CARR vs. HWM: Carrier Global vs. Howmet Aerospace Stock Comparison

November 11, 2026

How do Carrier Global (CARR) and Howmet Aerospace (HWM) 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 Howmet Aerospace (HWM) both fall under the Capital Goods industry group, but CARR is classified in Building Products while HWM is classified in Aerospace & Defense.

Company profile comparison for Carrier Global (CARR) and Howmet Aerospace (HWM)
Profile Item	CARR	HWM
Name	Carrier Global Corp.	Howmet Aerospace Inc.
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Building Products	Aerospace & Defense
GICS Sub-Industry	Building Products	Aerospace & Defense
Market Capitalization	42.86 billion USD	81.84 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	March 19, 2020	November 1, 2016
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CARR

HWM

GSPC

Carrier Global (CARR) vs. Howmet Aerospace (HWM), 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 Howmet Aerospace (HWM). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Carrier Global (CARR) and Howmet Aerospace (HWM)
Metric	CARR	HWM
Total Return (1Y)	-4.90%	5.06%
Total Return (3Y, Annualized)	3.62%	64.83%
Total Return (5Y, Annualized)	1.11%	46.04%

Risk Profile

Drawdown History

CARR

HWM

GSPC

Carrier Global (CARR) vs. Howmet Aerospace (HWM), 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 Howmet Aerospace (HWM). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Carrier Global (CARR) and Howmet Aerospace (HWM)
Metric	CARR	HWM
Volatility (1Y, Annualized)	35.35%	37.60%
Beta (5Y)	1.32	1.27
Max Drawdown (5Y)	-39.75%	-36.47%
Avg. Volume (3M)	6.08M	3.47M

Risk-Adjusted Performance

Risk-Return Positioning

CARR and HWM 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 Howmet Aerospace (HWM)
Metric	CARR	HWM
Sharpe Ratio (1Y)	-0.26	0.02
Sortino Ratio (1Y)	-0.36	0.03

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 Howmet Aerospace (HWM) reports 37.65%, 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%

HWM

Capital Goods industry group

37.65%

Max: 40.55%
HWM: 37.65%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Carrier Global (CARR) vs. Howmet Aerospace (HWM): 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 Howmet Aerospace (HWM) reports 21.10%, 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%

HWM

Capital Goods industry group

21.10%

Max: 27.47%
HWM: 21.10%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

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

Operating Margin (TTM)

Howmet Aerospace (HWM) at 28.78% 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%

HWM

Capital Goods industry group

28.78%

Max: 36.60%
HWM: 28.78%
Q3: 18.33%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

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

Profitability Metrics

Profitability metrics for Carrier Global (CARR) and Howmet Aerospace (HWM)
Metric	CARR	HWM
ROE (TTM)	-13.44%	37.65%
ROA (TTM)	3.43%	13.97%
Net Margin (TTM)	-7.90%	21.10%
Operating Margin (TTM)	11.00%	28.78%
Gross Margin (TTM)	24.38%	36.63%

Growth

Revenue Growth

Howmet Aerospace (HWM) at 11.06% 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. Howmet Aerospace (HWM): A comparison of their Revenue Growth across different time periods.

EPS Growth

Howmet Aerospace (HWM) at 32.03% sits in the top EPS growth quartile, while Carrier Global (CARR) at -72.03% is in the bottom quartile, showing a clear gap in earnings momentum.

Carrier Global (CARR) vs. Howmet Aerospace (HWM): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Carrier Global (CARR) and Howmet Aerospace (HWM)
Metric	CARR	HWM
Revenue Growth (YoY)	-3.29%	11.06%
Revenue Growth (3Y CAGR)	7.95%	13.37%
EPS Growth (YoY)	-72.03%	32.03%
EPS Growth (3Y CAGR)	-25.14%	49.51%

Financial Strength

Current Ratio (MRQ)

Howmet Aerospace (HWM) at 1.86 keeps current ratio within its industry’s typical mid-range, while Carrier Global (CARR) at 1.00 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for CARR.

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

HWM

Capital Goods industry group

1.86

Max: 5.22
Q3: 2.95
Median: 2.08
HWM: 1.86
Q1: 1.43
Min: 0.36

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

Debt / Equity (MRQ)

Howmet Aerospace (HWM) at 0.80 carries an industry-typical debt-to-equity mix, while Carrier Global (CARR) at 1.14 uses more debt funding than most peers.

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

HWM

Capital Goods industry group

0.80

Max: 2.33
Q3: 1.12
HWM: 0.80
Median: 0.60
Q1: 0.29
Min: 0.00

Carrier Global (CARR) vs. Howmet Aerospace (HWM): 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 Howmet Aerospace (HWM)
Metric	CARR	HWM
Current Ratio (MRQ)	1.00	1.86
Debt / Equity (MRQ)	1.14	0.80
Net Debt / EBITDA	3.24	1.35

Dividends

Dividend Yield (TTM)

Carrier Global (CARR) at 1.80% delivers top-quartile income for its industry, while Howmet Aerospace (HWM) at 0.25% pays a more typical yield — both are credible income propositions, CARR the richer one.

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%

HWM

Capital Goods industry group

0.25%

Max: 2.66%
Q3: 1.14%
HWM: 0.25%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Howmet Aerospace (HWM) at 9.80% pays out a band-typical share of earnings, while Carrier Global (CARR) at 67.39% distributes more than its industry norm — less retained, thinner cover.

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%

HWM

Capital Goods industry group

9.80%

Max: 67.39%
Q3: 28.02%
HWM: 9.80%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Carrier Global (CARR) and Howmet Aerospace (HWM)
Metric	CARR	HWM
Dividend Yield (TTM)	1.80%	0.25%
Dividend Payout Ratio (TTM)	67.39%	9.80%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Howmet Aerospace (HWM) trades at 40.35 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: --

HWM

Capital Goods industry group

40.35

Max: 59.38
HWM: 40.35
Q3: 35.92
Median: 25.41
Q1: 19.47
Min: 3.03

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

P/S Ratio (TTM)

Carrier Global (CARR) at 1.88 prices around its industry’s typical P/S ratio, while Howmet Aerospace (HWM) at 8.41 clears its benchmark range — HWM looks notably rich on 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

HWM

Capital Goods industry group

8.41

HWM: 8.41
Max: 7.54
Q3: 3.76
Median: 2.15
Q1: 1.03
Min: 0.03

Carrier Global (CARR) vs. Howmet Aerospace (HWM): 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 Howmet Aerospace (HWM) at 14.20 prices above its benchmark range — HWM 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

HWM

Capital Goods industry group

14.20

HWM: 14.20
Max: 9.66
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

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

Valuation Metrics

Valuation metrics for Carrier Global (CARR) and Howmet Aerospace (HWM)
Metric	CARR	HWM
P/E Ratio (TTM)	--	40.35
P/S Ratio (TTM)	1.88	8.41
P/B Ratio (MRQ)	4.27	14.20
Free Cash Flow Yield (TTM)	4.54%	1.58%