Question 1

What is Carrier Global's P/B ratio?

Accepted Answer

Carrier Global (CARR) P/B ratio is 4.2× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Carrier Global?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Carrier Global specifically, the relevant sector benchmark is the current sector median of 5.0×.

Question 5

Is Carrier Global's P/B ratio high or low?

Accepted Answer

Carrier Global's P/B ratio of 4.2× is below its own 5-year average of 4.8× and below the sector median of 5.0×. That places the current reading at the 21th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Carrier Global's historical P/B ratio range?

Accepted Answer

In the available daily series, Carrier Global (CARR) P/B ratio has ranged from a low of 0.7× in 2019 to a high of 7.7× in 2021. The 5-year average is 4.8× and the 5-year median is 4.5×.

Question 7

What was Carrier Global's P/B ratio in 2025?

Accepted Answer

Carrier Global (CARR) P/B ratio at the end of 2025 was 3.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Carrier Global's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$44.34B	$13.80B	3.2×	-1.1×	Dec 31, 2025
2024	$60.76B	$14.08B	4.3×	-1.2×	Dec 31, 2024
2023	$48.24B	$8.68B	5.6×	+1.1×	Dec 31, 2023
2022	$34.47B	$7.76B	4.4×	-2.5×	Dec 31, 2022
2021	$46.93B	$6.77B	6.9×	+1.7×	Dec 31, 2021
2020	$32.68B	$6.25B	5.2×	+4.5×	Dec 31, 2020
2019	$10.39B	$14.10B	0.7×	—	Dec 31, 2019


PACCAR (PCAR)	3.1×
Franklin Electric Co. (FELE)	3.0×
Huntington Ingalls Industries (HII)	2.9×
Brady (BRC)	2.9×
Fortive (FTV)	2.9×
Southwest Airlines (LUV)	2.7×
Xylem (XYL)	2.6×
FedEx (FDX)	2.5×
Axon Enterprise (TASR)	2.4×
Builders FirstSource (BLDR)	2.3×
McGrath RentCorp (MGRC)	2.2×
Tennant (TNC)	2.2×
Delta Air Lines (DAL)	2.1×
AGCO (AGCO)	2.0×
Textron (TXT)	1.9×
Archer Aviation (ACHR)	1.9×
United Airlines Holdings (UAL)	1.9×
Alamo Group (ALG)	1.7×
Matthews International (MATW)	1.6×
MDU Resources Group (MDU)	1.5×
Amentum Holdings (AMTM)	1.4×
ABM Industries (ABM)	1.4×
Stanley Black & Decker (SWK)	1.2×
Alaska Air Group (ALK)	1.1×
Versant Media Group, Inc. Class A (VSNT)	0.7×

P/B Ratio for Carrier Global (CARR)

P/B Ratio daily chart for Carrier Global (CARR)

Historical P/B Ratio for Carrier Global (CARR) from 2019 to 2025

About P/B Ratio at Carrier Global (CARR)

Carrier Global P/B Ratio by Year

Carrier Global P/B Ratio 2025: 3.2×

Carrier Global P/B Ratio 2024: 4.3×

Carrier Global P/B Ratio 2023: 5.6×

Carrier Global P/B Ratio 2022: 4.4×

Carrier Global P/B Ratio 2021: 6.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Carrier Global (CARR) Key Financials

P/B Ratio daily chart for Carrier Global (CARR)

Historical P/B Ratio for Carrier Global (CARR) from 2019 to 2025

About P/B Ratio at Carrier Global (CARR)

Carrier Global P/B Ratio by Year

Carrier Global P/B Ratio 2025: 3.2×

Carrier Global P/B Ratio 2024: 4.3×

Carrier Global P/B Ratio 2023: 5.6×

Carrier Global P/B Ratio 2022: 4.4×

Carrier Global P/B Ratio 2021: 6.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Carrier Global's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Carrier Global?

+Is Carrier Global's P/B ratio high or low?

+What is Carrier Global's historical P/B ratio range?

+What was Carrier Global's P/B ratio in 2025?

+Why does Carrier Global's P/B ratio change over time?

Carrier Global (CARR) Key Financials