The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-27), Carrier Global's share price is CHF60.71. Carrier Global's Book Value per Share for the quarter that ended in Mar. 2026 was CHF12.74. Hence, Carrier Global's PB Ratio of today is 4.77.
Warning Sign:
Carrier Global Corp stock PB Ratio (=4.55) is close to 1-year high of 4.67.
The historical rank and industry rank for Carrier Global's PB Ratio or its related term are showing as below:
XSWX:CARR'
s PB Ratio Range Over the Past 10 Years
Min: 0.78 Med: 4.98 Max: 7.57
Current: 4.55
During the past 9 years, Carrier Global's highest PB Ratio was 7.57. The lowest was 0.78. And the median was 4.98.
XSWX:CARR's PB Ratio is ranked worse than 86.47% of 1722
companies
in the Construction industry
Industry Median: 1.31
vs XSWX:CARR: 4.55
During the past 12 months, Carrier Global's average Book Value Per Share Growth Rate was 0.40% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 21.10% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 20.10% per year.
During the past 9 years, the highest 3-Year average Book Value Per Share Growth Rate of Carrier Global was 26.90% per year. The lowest was -21.30% per year. And the median was 12.80% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Carrier Global PB Ratio Related Terms
Carrier Global PB Ratio Historical Data
* Premium members only.
The historical data trend for Carrier Global's PB Ratio 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.
For the Building Products & Equipment subindustry, Carrier Global's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Construction Industry
For the Construction industry and Industrials sector, Carrier Global's PB Ratio distribution charts can be found below:
* The bar in red indicates where Carrier Global's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Carrier Global's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Carrier Global (XSWX:CARR) has a PB Ratio of 4.77 as of Jun. 27, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Carrier Global and its competitors. This is near median its historical median of 4.98. Over the past decade, Carrier Global's PB Ratio has ranged from 0.78 to 7.57. According to the industry distribution chart, Carrier Global ranks #1489 out of 1722 companies in the Construction industry, placing it in the top 86.5%.
Is Carrier Global's PB Ratio too high?
Carrier Global's current PB Ratio of 4.77 is near median its 10-year median of 4.98. Over the past 10 years, this metric has ranged from a low of 0.78 to a high of 7.57. The Construction industry median PB Ratio is 1.31. Carrier Global's value of 4.77 is 264.1% above this industry median. Based on the distribution chart, Carrier Global ranks #1489 out of 1722 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Carrier Global has a GF Score™ of 79/100, reflecting its overall financial health beyond just this single metric.
How does Carrier Global's PB Ratio compare to JCI and MAIR?
According to the Construction industry distribution chart, Carrier Global ranks #1489 out of 1722 companies for PB Ratio. This places Carrier Global in the lower half of its industry. The industry median PB Ratio is 1.31. Carrier Global's value of 4.77 is 264.1% above this benchmark. Historically, Carrier Global's own PB Ratio has ranged from 0.78 to 7.57 over the past decade. While the company's 10-year median is 4.98 vs. the industry median of 1.31, 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 PB Ratio for a Construction company?
The median PB Ratio among Construction companies is 1.31, based on 1,722 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Carrier Global's current PB Ratio of 4.77 is 264.1% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Carrier Global and its competitors. For the Construction industry, the median PB Ratio is 1.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carrier Global's current PB Ratio is 4.77, which is near median its own 10-year median of 4.98. 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 PB Ratio of 4.77. The stock's GF Value™ is CHF55.81, compared to a current price of CHF60.71 — trading 8.8% above its estimated fair value. The current PB Ratio is 4.77, which is near median its 10-year median of 4.98 and 264.1% above the Construction industry median of 1.31. Carrier Global's overall GF Score™ is 79/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Carrier Global (XSWX:CARR), the current PB Ratio is 4.77 as of Jun. 27, 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 overvalued.
The current stock price of CHF60.71 is trading 8.8% above its estimated GF Value™ of CHF55.81.
Key valuation signals for XSWX:CARR:
PB Ratio: 4.77 (near median its 10-year median of 4.98)
GF Value™: CHF55.81 vs. price of CHF60.71 (8.8% above fair value)
Industry Position: 264.1% above the Construction median (#1489 of 1722)
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.
79GF Score
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