Carrier Global Corp (CARR) - Net Assets
Based on the latest financial reports, Carrier Global Corp (CARR) has net assets worth $14.13 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($37.19 Billion) and total liabilities ($23.06 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check CARR cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $14.13 Billion |
| % of Total Assets | 37.99% |
| Annual Growth Rate | -0.57% |
| 5-Year Change | 99.15% |
| 10-Year Change | N/A |
| Growth Volatility | 29.15 |
Carrier Global Corp - Net Assets Trend (2017–2025)
This chart illustrates how Carrier Global Corp's net assets have evolved over time, based on quarterly financial data. Also explore Carrier Global Corp assets under control for the complete picture of this company's asset base.
Annual Net Assets for Carrier Global Corp (2017–2025)
The table below shows the annual net assets of Carrier Global Corp from 2017 to 2025. For live valuation and market cap data, see Carrier Global Corp (CARR) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $14.13 Billion | -1.85% |
| 2024-12-31 | $14.39 Billion | +59.86% |
| 2023-12-31 | $9.01 Billion | +11.50% |
| 2022-12-31 | $8.08 Billion | +13.84% |
| 2021-12-31 | $7.09 Billion | +7.84% |
| 2020-12-31 | $6.58 Billion | -54.43% |
| 2019-12-31 | $14.44 Billion | +1.16% |
| 2018-12-31 | $14.27 Billion | -3.48% |
| 2017-12-31 | $14.78 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Carrier Global Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1219300000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $12.19 Billion | 88.33% |
| Common Stock | $10.00 Million | 0.07% |
| Other Comprehensive Income | $-269.00 Million | -1.95% |
| Other Components | $1.87 Billion | 13.55% |
| Total Equity | $13.80 Billion | 100.00% |
Carrier Global Corp Competitors by Market Cap
The table below lists competitors of Carrier Global Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
UCB SA
BR:UCB
|
$51.45 Billion |
|
Mercedes-Benz Group AG
F:MBG
|
$51.50 Billion |
|
E.ON SE
F:EOAA
|
$51.50 Billion |
|
L3Harris Technologies Inc
NYSE:LHX
|
$51.53 Billion |
|
Thales S.A.
PA:HO
|
$51.35 Billion |
|
Elite Material Co Ltd
TW:2383
|
$51.20 Billion |
|
ASE Industrial Holding Co Ltd ADR
NYSE:ASX
|
$51.18 Billion |
|
Bayerische Motoren Werke Aktiengesellschaft
XETRA:BMW
|
$50.66 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Carrier Global Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 14,081,000,000 to 13,804,000,000, a change of -277,000,000 (-2.0%).
- Net income of 1,493,000,000 contributed positively to equity growth.
- Dividend payments of 772,000,000 reduced retained earnings.
- Share repurchases of 2,892,000,000 reduced equity.
- Other comprehensive income increased equity by 1,837,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.49 Billion | +10.82% |
| Dividends Paid | $772.00 Million | -5.59% |
| Share Repurchases | $2.89 Billion | -20.95% |
| Other Comprehensive Income | $1.84 Billion | +13.31% |
| Other Changes | $57.00 Million | +0.41% |
| Total Change | $- | -1.97% |
Book Value vs Market Value Analysis
This analysis compares Carrier Global Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.15x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | $16.51 | $67.62 | x |
| 2018-12-31 | $15.95 | $67.62 | x |
| 2019-12-31 | $16.28 | $67.62 | x |
| 2020-12-31 | $7.10 | $67.62 | x |
| 2021-12-31 | $7.60 | $67.62 | x |
| 2022-12-31 | $9.01 | $67.62 | x |
| 2023-12-31 | $10.17 | $67.62 | x |
| 2024-12-31 | $15.44 | $67.62 | x |
| 2025-12-31 | $16.30 | $67.62 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Carrier Global Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 10.82%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.87%
- • Asset Turnover: 0.58x
- • Equity Multiplier: 2.69x
- Recent ROE (10.82%) is below the historical average (23.58%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 8.51% | 6.89% | 0.81x | 1.53x | $-214.30 Million |
| 2018 | 19.65% | 14.45% | 0.87x | 1.56x | $1.34 Billion |
| 2019 | 15.00% | 11.37% | 0.83x | 1.59x | $705.80 Million |
| 2020 | 31.70% | 11.35% | 0.70x | 4.01x | $1.36 Billion |
| 2021 | 24.59% | 8.07% | 0.79x | 3.87x | $987.30 Million |
| 2022 | 45.55% | 20.44% | 0.66x | 3.36x | $2.76 Billion |
| 2023 | 16.60% | 6.52% | 0.67x | 3.78x | $572.30 Million |
| 2024 | 39.80% | 24.92% | 0.60x | 2.66x | $4.20 Billion |
| 2025 | 10.82% | 6.87% | 0.58x | 2.69x | $112.60 Million |
Industry Comparison
This section compares Carrier Global Corp's net assets metrics with peer companies in the Building Products & Equipment industry.
Industry Context
- Industry: Building Products & Equipment
- Average net assets among peers: $706,353,029
- Average return on equity (ROE) among peers: -11.49%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Carrier Global Corp (CARR) | $14.13 Billion | 8.51% | 1.63x | $51.37 Billion |
| AAON Inc (AAON) | $237.23 Million | 22.97% | 0.25x | $7.43 Billion |
| Antelope Enterprise Holdings Ltd (AEHL) | $49.56 Million | -179.09% | 2.59x | $621.73K |
| Montana Technologies Corporation (AIRJ) | $284.10 Million | -0.98% | 0.04x | $212.76 Million |
| Apogee Enterprises Inc (APOG) | $140.40 Million | 12.68% | 1.75x | $780.82 Million |
| Alpha Pro Tech Ltd (APT) | $33.23 Million | 9.03% | 0.15x | $44.96 Million |
| Arlo Technologies (ARLO) | $100.91 Million | -30.23% | 1.96x | $1.44 Billion |
| Aspen Aerogels Inc (ASPN) | $58.99 Million | -8.07% | 0.75x | $291.74 Million |
| Armstrong World Industries Inc (AWI) | $691.00 Million | 2.07% | 5.03x | $7.27 Billion |
| Azek Company Inc (AZEK) | $505.55 Million | 1.33% | 2.52x | $7.82 Billion |
| Builders FirstSource Inc (BLDR) | $4.96 Billion | 55.40% | 1.14x | $8.37 Billion |
About Carrier Global Corp
Carrier Global Corporation provides intelligent climate and energy solutions in the United States, Europe, the Asia Pacific, and internationally. It operates through four segments: Climate Solutions Americas; Climate Solutions Europe; Climate Solutions Asia Pacific, Middle East & Africa; and Climate Solutions Transportation. The company provides air conditioners, heating systems, heat pumps, home… Read more