Carrier Global Corporation (CARR) vs Madison Air Solutions Corporation (MAIR)

Carrier Global Corporation and Madison Air Solutions Corporation are both Building Products & Equipment companies. Carrier Global Corporation is the larger, with a market value of $43.5B against $10.8B — 4.0× the size. Carrier Global Corporation has negative trailing earnings, so its P/E is not meaningful; Madison Air Solutions Corporation trades at 48.8×. Madison Air Solutions Corporation has the higher net margin (4.75% vs −7.90%) and the higher return on invested capital (5.83% vs −3.31%). Across the 18 metrics below, Madison Air Solutions Corporation leads on 15 and Carrier Global Corporation on 3.

Valuation

Metric CARR MAIR Building Products & Equipment median
P/E n/m 48.77 23.33
P/S 1.92 2.94 2.09
P/B 4.20 2.76 2.85
Price to free cash flow 18.42 14.72 18.42
EV/EBITDA 16.37 16.26 13.29
EV/Sales 2.37 3.76 2.28
Earnings yield (4.15%) 2.05% 3.04%
Free cash flow yield 5.43% 6.79% 4.26%

Profitability

Metric CARR MAIR Building Products & Equipment median
Gross margin 24.64% 38.43% 31.88%
Operating margin (4.77%) 17.56% 7.18%
Net margin (7.90%) 4.75% 4.11%
Free cash flow margin 10.43% 19.99% 6.41%
Return on equity (14.26%) 0.00% 5.95%
Return on assets (5.03%) 3.90% 3.90%
Return on invested capital (3.31%) 5.83% 5.54%

Growth

Metric CARR MAIR Building Products & Equipment median
Revenue growth (TTM) 3.33% — 6.27%
EPS growth (last fiscal year) (72.03%) (44.63%) (28.29%)
Revenue growth, 5-year CAGR 4.49% — 4.81%
Net income growth, 5-year CAGR (5.62%) — 0.00%

Health

Metric CARR MAIR Building Products & Equipment median
Debt to equity 1.10 0.84 0.55
Current ratio 1.00 1.82 1.83
Net debt to EBITDA 2.98 7.54 1.45

Dividend

Metric CARR MAIR Building Products & Equipment median
Dividend yield 1.80% — 1.37%
Payout ratio 0.67 — 0.28

Size

Metric CARR MAIR Building Products & Equipment median
Market cap 43.53b 10.75b 3.22b

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