CARR vs. FAST: Carrier Global vs. Fastenal Stock Comparison

November 11, 2026

How do Carrier Global (CARR) and Fastenal (FAST) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Carrier Global (CARR) and Fastenal (FAST) both fall under the Capital Goods industry group, but CARR is classified in Building Products while FAST is classified in Trading Companies & Distributors.

Fastenal (FAST) has more than two decades of public-market history since August 20, 1987, whereas Carrier Global (CARR) listed on March 19, 2020 and has a much shorter record to draw on.

Company profile comparison for Carrier Global (CARR) and Fastenal (FAST)
Profile Item	CARR	FAST
Name	Carrier Global Corp.	Fastenal Co.
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Building Products	Trading Companies & Distributors
GICS Sub-Industry	Building Products	Trading Companies & Distributors
Market Capitalization	42.86 billion USD	60.80 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	March 19, 2020	August 20, 1987
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CARR

FAST

GSPC

Carrier Global (CARR) vs. Fastenal (FAST), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Carrier Global (CARR) and Fastenal (FAST). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Carrier Global (CARR) and Fastenal (FAST). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Carrier Global (CARR) and Fastenal (FAST)
Metric	CARR	FAST
Total Return (1Y)	-4.90%	36.82%
Total Return (3Y, Annualized)	3.62%	25.71%
Total Return (5Y, Annualized)	1.11%	15.98%

Risk Profile

Drawdown History

CARR

FAST

GSPC

Carrier Global (CARR) vs. Fastenal (FAST), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Carrier Global (CARR) and Fastenal (FAST). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Carrier Global (CARR) has an aggressive beta of 1.32, indicating higher sensitivity to broad-market moves, while Fastenal (FAST) is defensive at 0.64 and tends to be less market-sensitive — they sit on opposite ends of the beta spectrum.

Risk profile metrics for Carrier Global (CARR) and Fastenal (FAST)
Metric	CARR	FAST
Volatility (1Y, Annualized)	35.35%	24.55%
Beta (5Y)	1.32	0.64
Max Drawdown (5Y)	-39.75%	-30.71%
Avg. Volume (3M)	6.08M	7.21M

Risk-Adjusted Performance

Risk-Return Positioning

CARR and FAST are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Carrier Global (CARR) and Fastenal (FAST)
Metric	CARR	FAST
Sharpe Ratio (1Y)	-0.26	1.33
Sortino Ratio (1Y)	-0.36	2.00

Profitability

ROE (TTM)

Carrier Global (CARR) reports a negative ROE of -13.44%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Fastenal (FAST) reports 35.26%, ranking against industry peers normally.

CARR

Capital Goods industry group

-13.44%

Max: 40.55%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
CARR: -13.44%
Min: -17.12%

FAST

Capital Goods industry group

35.26%

Max: 40.55%
FAST: 35.26%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Carrier Global (CARR) vs. Fastenal (FAST): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Carrier Global (CARR) reports a negative net margin of -7.90%, usually indicating a net loss over the period. Meanwhile Fastenal (FAST) reports 15.62%, ranking against industry peers normally.

CARR

Capital Goods industry group

-7.90%

Max: 27.47%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
CARR: -7.90%
Min: -12.89%

FAST

Capital Goods industry group

15.62%

Max: 27.47%
FAST: 15.62%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

Carrier Global (CARR) vs. Fastenal (FAST): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Fastenal (FAST) at 21.55% operates in the top operating margin quartile, ahead of Carrier Global (CARR) at 11.00%, which runs around its industry’s norm.

CARR

Capital Goods industry group

11.00%

Max: 36.60%
Q3: 18.33%
Median: 11.12%
CARR: 11.00%
Q1: 5.14%
Min: -12.63%

FAST

Capital Goods industry group

21.55%

Max: 36.60%
FAST: 21.55%
Q3: 18.33%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

Carrier Global (CARR) vs. Fastenal (FAST): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Carrier Global (CARR) and Fastenal (FAST)
Metric	CARR	FAST
ROE (TTM)	-13.44%	35.26%
ROA (TTM)	3.43%	21.97%
Net Margin (TTM)	-7.90%	15.62%
Operating Margin (TTM)	11.00%	21.55%
Gross Margin (TTM)	24.38%	44.61%

Growth

Revenue Growth

Fastenal (FAST) at 8.67% is around its peer norm for revenue growth, while Carrier Global (CARR) at -3.29% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Carrier Global (CARR) vs. Fastenal (FAST): A comparison of their Revenue Growth across different time periods.

EPS Growth

Fastenal (FAST) at 9.00% is around its peer norm for EPS growth, while Carrier Global (CARR) at -72.03% drops into the bottom quartile, signaling weaker earnings momentum.

Carrier Global (CARR) vs. Fastenal (FAST): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Carrier Global (CARR) and Fastenal (FAST)
Metric	CARR	FAST
Revenue Growth (YoY)	-3.29%	8.67%
Revenue Growth (3Y CAGR)	7.95%	5.52%
EPS Growth (YoY)	-72.03%	9.00%
EPS Growth (3Y CAGR)	-25.14%	4.87%

Financial Strength

Current Ratio (MRQ)

Fastenal (FAST) at 3.93 carries current ratio above its industry’s typical mid-range, while Carrier Global (CARR) at 1.00 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

CARR

Capital Goods industry group

1.00

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
CARR: 1.00
Min: 0.36

FAST

Capital Goods industry group

3.93

Max: 5.22
FAST: 3.93
Q3: 2.95
Median: 2.08
Q1: 1.43
Min: 0.36

Carrier Global (CARR) vs. Fastenal (FAST): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Fastenal (FAST) at 0.11 keeps leverage in the lower quartile, while Carrier Global (CARR) at 1.14 sits in the higher-leverage quartile.

CARR

Capital Goods industry group

1.14

Max: 2.33
CARR: 1.14
Q3: 1.12
Median: 0.60
Q1: 0.29
Min: 0.00

FAST

Capital Goods industry group

0.11

Max: 2.33
Q3: 1.12
Median: 0.60
Q1: 0.29
FAST: 0.11
Min: 0.00

Carrier Global (CARR) vs. Fastenal (FAST): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Carrier Global (CARR) and Fastenal (FAST)
Metric	CARR	FAST
Current Ratio (MRQ)	1.00	3.93
Debt / Equity (MRQ)	1.14	0.11
Net Debt / EBITDA	3.24	0.12

Dividends

Dividend Yield (TTM)

Both Carrier Global (CARR) at 1.80% and Fastenal (FAST) at 1.81% offer top-quartile dividend income relative to share price within their industries.

CARR

Capital Goods industry group

1.80%

Max: 2.66%
CARR: 1.80%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

FAST

Capital Goods industry group

1.81%

Max: 2.66%
FAST: 1.81%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

Carrier Global (CARR) vs. Fastenal (FAST): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Both pay out more than their industries’ typical bands, and FAST more so: Carrier Global (CARR) at 67.39% sits above the band, while Fastenal (FAST) at 78.05% exceeds every peer in its group.

CARR

Capital Goods industry group

67.39%

CARR: 67.39%
Max: 67.39%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

FAST

Capital Goods industry group

78.05%

FAST: 78.05%
Max: 67.39%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

Carrier Global (CARR) vs. Fastenal (FAST): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Carrier Global (CARR) and Fastenal (FAST)
Metric	CARR	FAST
Dividend Yield (TTM)	1.80%	1.81%
Dividend Payout Ratio (TTM)	67.39%	78.05%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Fastenal (FAST) trades at 43.08 times trailing earnings, ranked against its peers, while Carrier Global (CARR) has no P/E ratio this period.

CARR

Capital Goods industry group

Max: 59.38
Q3: 35.92
Median: 25.41
Q1: 19.47
Min: 3.03
CARR: --

FAST

Capital Goods industry group

43.08

Max: 59.38
FAST: 43.08
Q3: 35.92
Median: 25.41
Q1: 19.47
Min: 3.03

Carrier Global (CARR) vs. Fastenal (FAST): CARR does not report P/E ratio, so it has no value marker; FAST is benchmarked against the Capital Goods industry group.

P/S Ratio (TTM)

Carrier Global (CARR) at 1.88 is priced about in line with its industry on P/S ratio, while Fastenal (FAST) at 6.70 sits in the pricier quartile — FAST costs more per dollar of sales.

CARR

Capital Goods industry group

1.88

Max: 7.54
Q3: 3.76
Median: 2.15
CARR: 1.88
Q1: 1.03
Min: 0.03

FAST

Capital Goods industry group

6.70

Max: 7.54
FAST: 6.70
Q3: 3.76
Median: 2.15
Q1: 1.03
Min: 0.03

Carrier Global (CARR) vs. Fastenal (FAST): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

Carrier Global (CARR) at 4.27 sits near its industry’s typical P/B ratio, while Fastenal (FAST) at 14.65 prices above its benchmark range — FAST looks rich relative to book.

CARR

Capital Goods industry group

4.27

Max: 9.66
Q3: 5.00
CARR: 4.27
Median: 3.12
Q1: 1.81
Min: -1.08

FAST

Capital Goods industry group

14.65

FAST: 14.65
Max: 9.66
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

Carrier Global (CARR) vs. Fastenal (FAST): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Carrier Global (CARR) and Fastenal (FAST)
Metric	CARR	FAST
P/E Ratio (TTM)	--	43.08
P/S Ratio (TTM)	1.88	6.70
P/B Ratio (MRQ)	4.27	14.65
Free Cash Flow Yield (TTM)	4.54%	1.51%