Carrier GlobalXSWX:CARR +3.09%80 ROC (Joel Greenblatt) % is 26.25% as of Mar. 2026, which is 61% below its 10-year median of 68.02. GuruFocus rates XSWX:CARR with a GF Score™ of 80/100 and a GF Value™ of CHF55.08. The stock has 10 warning signs investors should review. Among 1,779 Construction companies, Carrier Global ranks better than 74.93% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Carrier Global's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 26.25%.
The historical rank and industry rank for Carrier Global's ROC (Joel Greenblatt) % or its related term are showing as below:
XSWX:CARR'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 47.17 Med: 68.02 Max: 237.51
Current: 47.17
During the past 9 years, Carrier Global's highest ROC (Joel Greenblatt) % was 237.51%. The lowest was 47.17%. And the median was 68.02%.
XSWX:CARR's ROC (Joel Greenblatt) % is ranked better than 74.93% of 1779
companies
in the Construction industry
Industry Median: 19.59
vs XSWX:CARR: 47.17
Carrier Global's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -10.80% per year.
Carrier Global (XSWX:CARR) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Carrier Global ROC (Joel Greenblatt) % Related Terms
Carrier Global ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Carrier Global's ROC (Joel Greenblatt) % 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: ROC (Joel Greenblatt) % Comparison
For the Building Products & Equipment subindustry, Carrier Global's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, Carrier Global's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Carrier Global's ROC (Joel Greenblatt) % falls into.
Carrier Global ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 26.25% mean?
Carrier Global (XSWX:CARR) has a ROC (Joel Greenblatt) % of 26.25% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Carrier Global and its competitors. This is 61% below median its historical median of 68.02. Over the past decade, Carrier Global's ROC (Joel Greenblatt) % has ranged from 47.17 to 237.51. According to the industry distribution chart, Carrier Global ranks #446 out of 1779 companies in the Construction industry, placing it in the top 25.1%.
Is Carrier Global's ROC (Joel Greenblatt) % too high?
Carrier Global's current ROC (Joel Greenblatt) % of 26.25% is 61% below median its 10-year median of 68.02. Over the past 10 years, this metric has ranged from a low of 47.17 to a high of 237.51. The Construction industry median ROC (Joel Greenblatt) % is 19.59. Carrier Global's value of 26.25% is 34% above this industry median. Based on the distribution chart, Carrier Global ranks #446 out of 1779 companies in the Construction industry, which is above the industry midpoint. Overall, Carrier Global has a GF Score™ of 80/100, reflecting its overall financial health beyond just this single metric.
How does Carrier Global's ROC (Joel Greenblatt) % compare to JCI and LII?
According to the Construction industry distribution chart, Carrier Global ranks #446 out of 1779 companies for ROC (Joel Greenblatt) %. This puts Carrier Global in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 19.59. Carrier Global's value of 26.25% is 34% above this benchmark. Historically, Carrier Global's own ROC (Joel Greenblatt) % has ranged from 47.17 to 237.51 over the past decade. While the company's 10-year median is 68.02 vs. the industry median of 19.59, 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 ROC (Joel Greenblatt) % for a Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.59, based on 1,779 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Carrier Global's current ROC (Joel Greenblatt) % of 26.25% is 34% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Carrier Global and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carrier Global's current ROC (Joel Greenblatt) % is 26.25%, which is 61% below median its own 10-year median of 68.02. 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 ROC (Joel Greenblatt) % of 26.25%. The stock's GF Value™ is CHF55.08, compared to a current price of CHF56.32 — trading 2.3% above its estimated fair value. The current ROC (Joel Greenblatt) % is 26.25%, which is 61% below median its 10-year median of 68.02 and 34% above the Construction industry median of 19.59. Carrier Global's overall GF Score™ is 80/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Carrier Global (XSWX:CARR), the current ROC (Joel Greenblatt) % is 26.25% as of Mar. 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 CHF56.32 is trading 2.3% above its estimated GF Value™ of CHF55.08.
Key valuation signals for XSWX:CARR:
ROC (Joel Greenblatt) %: 26.25% (61% below median its 10-year median of 68.02)
GF Value™: CHF55.08 vs. price of CHF56.32 (2.3% above fair value)
Industry Position: 34% above the Construction median (#446 of 1779)
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.
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