Carrier Global Corp (CARR)
Debt-to-assets ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | 10,337,000 | 11,270,000 | 15,647,000 | 14,242,000 | 8,651,000 | 8,655,000 | 8,708,000 | 8,702,000 | 8,670,000 | 8,298,000 | 8,305,000 | 9,513,000 | 9,558,000 | 9,600,000 | 9,577,000 | 10,036,000 |
| Total assets | US$ in thousands | 37,403,000 | 40,201,000 | 40,424,000 | 40,810,000 | 32,822,000 | 26,544,000 | 26,284,000 | 26,411,000 | 26,086,000 | 25,350,000 | 23,662,000 | 24,193,000 | 26,172,000 | 25,788,000 | 25,738,000 | 24,868,000 | 25,093,000 |
| Debt-to-assets ratio | 0.00 | 0.26 | 0.28 | 0.38 | 0.43 | 0.33 | 0.33 | 0.33 | 0.33 | 0.34 | 0.35 | 0.34 | 0.36 | 0.37 | 0.37 | 0.39 | 0.40 |
December 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $37,403,000K
= 0.00
The debt-to-assets ratio of Carrier Global Corp has shown a declining trend over the past few years, indicating an improvement in the company's financial leverage and risk profile. Starting at 0.40 as of December 31, 2020, the ratio steadily decreased to 0.33 by March 31, 2023, suggesting a reduction in debt relative to total assets during this period.
However, there was a notable increase in the debt-to-assets ratio to 0.43 by December 31, 2023, which might indicate a spike in debt levels compared to total assets at that point in time. This increase could be a cause for further analysis to understand the factors driving the change in the company's financial structure.
Subsequently, the ratio decreased to 0.28 by June 30, 2024, before dropping significantly to 0.00 by December 31, 2024. The sudden decrease to 0.00 might indicate an anomaly or error in the data for that period, as it is rare for a company to have no debt relative to its total assets.
Overall, the decreasing trend in the debt-to-assets ratio from 2020 to 2024, with the exception of the anomaly in December 2024, suggests that Carrier Global Corp has been effectively managing its debt levels in relation to its asset base, which could positively impact its financial stability and performance.
Peer comparison
Dec 31, 2024