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A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Carrier Global's Debt-to-Equity or its related term are showing as below:
XSWX:CARR'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.08 Med: 1.21 Max: 4.43
Current: 0.94
During the past 9 years, the highest Debt-to-Equity Ratio of Carrier Global was 4.43. The lowest was 0.08. And the median was 1.21.
XSWX:CARR's Debt-to-Equity is ranked worse than 74.02% of 1609
companies
in the Construction industry
Industry Median: 0.41
vs XSWX:CARR: 0.94
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Carrier Global Debt-to-Equity Related Terms
Carrier Global Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Carrier Global's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XSWX:CARR vs JCI, LII, MAIR: Debt-to-Equity Comparison
For the Building Products & Equipment subindustry, Carrier Global's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Carrier Global Debt-to-Equity vs Construction Industry
For the Construction industry and Industrials sector, Carrier Global's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Carrier Global's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Carrier Global (XSWX:CARR) has a Debt-to-Equity of 0.94 as of Jun. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Carrier Global and its competitors. This is 22% below median its historical median of 1.21. Over the past decade, Carrier Global's Debt-to-Equity has ranged from 0.08 to 4.43. According to the industry distribution chart, Carrier Global ranks #1191 out of 1609 companies in the Construction industry, placing it in the top 74%.
Is Carrier Global's Debt-to-Equity too high?
Carrier Global's current Debt-to-Equity of 0.94 is 22% below median its 10-year median of 1.21. Over the past 10 years, this metric has ranged from a low of 0.08 to a high of 4.43. The Construction industry median Debt-to-Equity is 0.41. Carrier Global's value of 0.94 is 129.3% above this industry median. Based on the distribution chart, Carrier Global ranks #1191 out of 1609 companies in the Construction industry, which is below the industry midpoint. Overall, Carrier Global has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does Carrier Global's Debt-to-Equity compare to JCI and LII?
According to the Construction industry distribution chart, Carrier Global ranks #1191 out of 1609 companies for Debt-to-Equity. This places Carrier Global in the lower half of its industry. The industry median Debt-to-Equity is 0.41. Carrier Global's value of 0.94 is 129.3% above this benchmark. Historically, Carrier Global's own Debt-to-Equity has ranged from 0.08 to 4.43 over the past decade. While the company's 10-year median is 1.21 vs. the industry median of 0.41, Carrier Global has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Construction company?
The median Debt-to-Equity among Construction companies is 0.41, based on 1,609 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Carrier Global's current Debt-to-Equity of 0.94 is 129.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Carrier Global and its competitors. For the Construction industry, the median Debt-to-Equity is 0.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carrier Global's current Debt-to-Equity is 0.94, which is 22% below median its own 10-year median of 1.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Carrier Global stock overvalued right now?
Carrier Global (XSWX:CARR) has a current Debt-to-Equity of 0.94. The stock's GF Value™ is CHF55.76, compared to a current price of CHF50.60 — trading 9.3% below its estimated fair value. The current Debt-to-Equity is 0.94, which is 22% below median its 10-year median of 1.21 and 129.3% above the Construction industry median of 0.41. Carrier Global's overall GF Score™ is 81/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Carrier Global (XSWX:CARR), the current Debt-to-Equity is 0.94 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Carrier Global (XSWX:CARR) Overvalued in 2026?
Based on GuruFocus' analysis, Carrier Global stock appears to be undervalued.
The current stock price of CHF50.60 is trading 9.3% below its estimated GF Value™ of CHF55.76.
Key valuation signals for XSWX:CARR:
Debt-to-Equity: 0.94 (22% below median its 10-year median of 1.21)
GF Value™: CHF55.76 vs. price of CHF50.60 (9.3% below fair value)
Industry Position: 129.3% above the Construction median (#1191 of 1609)
No single metric tells the full story. See the XSWX:CARR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Carrier Global, spun out of United Technologies in 2020, manufactures and services commercial and residential HVAC systems and transportation refrigeration solutions under its flagship Carrier brand, as well as Bryant, Payne, Heil, and others across various price points. In 2024, Carrier acquired Viessmann Climate Solutions to expand its footprint in Europe with heat pumps, boilers, and solar PV equipment. Proceeds from the sale of Carrier's fire and security (Honeywell) and commercial refrigeration (Haier) businesses reduced debt and focused the company on global HVAC and refrigeration solutions. Carrier generates 75% of sales from equipment and 25% from parts and services. The company derives 50% of revenue from the US, 30% from Europe, and 20% from the Asia-Pacific region.
81GF Score
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