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CARR vs. MAIR: Carrier Global vs. Madison Air Stock Comparison

How do Carrier Global (CARR) and Madison Air (MAIR) 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 Madison Air (MAIR) are both classified in the Building Products sub-industry within the broader Building Products industry, placing them in the closest GICS peer bucket.

Carrier Global (CARR) has traded publicly since March 19, 2020, giving it several years of listed trading history, while Madison Air (MAIR) only listed on April 16, 2026 and has a limited public-market record.

Company profile comparison for Carrier Global (CARR) and Madison Air (MAIR)
Profile ItemCARRMAIR
NameCarrier Global Corp.Madison Air Solutions Corporation Class A Common Stock
Country/RegionUnited StatesUnited States
GICS SectorIndustrialsIndustrials
GICS Industry GroupCapital GoodsCapital Goods
GICS IndustryBuilding ProductsBuilding Products
GICS Sub-IndustryBuilding ProductsBuilding Products
Market Capitalization42.86 billion USD11.56 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateMarch 19, 2020April 16, 2026
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

CARR
MAIR
GSPC
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Carrier Global (CARR) vs. Madison Air (MAIR), 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 Madison Air (MAIR). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Carrier Global (CARR) and Madison Air (MAIR)
MetricCARRMAIR
Total Return (1Y)-4.90%--
Total Return (3Y, Annualized)3.62%--
Total Return (5Y, Annualized)1.11%--

Risk Profile

Drawdown History

CARR
MAIR
GSPC
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Carrier Global (CARR) vs. Madison Air (MAIR), 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 Madison Air (MAIR). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Carrier Global (CARR) and Madison Air (MAIR)
MetricCARRMAIR
Volatility (1Y, Annualized)35.35%57.10%
Beta (5Y)1.321.60
Max Drawdown (5Y)-39.75%-51.16%
Avg. Volume (3M)6.08M2.60M

Risk-Adjusted Performance

Risk-Return Positioning

Both CARR and MAIR need 1-year volatility and 1-year return to plot risk-return positioning.

Risk-Adjusted Metrics

Risk-adjusted metrics for Carrier Global (CARR) and Madison Air (MAIR)
MetricCARRMAIR
Sharpe Ratio (1Y)-0.26--
Sortino Ratio (1Y)-0.36--

Profitability

ROE (TTM)

Madison Air (MAIR) has no ROE value reported for this period; Carrier Global (CARR) reports a negative figure of -13.44%, which needs context because negative ROE can reflect losses or negative shareholders’ equity.

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%

MAIR

Capital Goods industry group

--

Max
40.55%
Q3
19.29%
Median
12.12%
Q1
4.08%
Min
-17.12%
MAIR
--
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Carrier Global (CARR) vs. Madison Air (MAIR): MAIR does not report ROE, so it has no value marker; CARR is benchmarked against the Capital Goods industry group.

Net Margin (TTM)

Carrier Global (CARR) reports a negative net margin of -7.90%, usually indicating a net loss over the period. Meanwhile Madison Air (MAIR) reports 3.73%, 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%

MAIR

Capital Goods industry group

3.73%

Max
27.47%
Q3
12.10%
Median
6.30%
MAIR
3.73%
Q1
1.40%
Min
-12.89%
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Carrier Global (CARR) vs. Madison Air (MAIR): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Madison Air (MAIR) at 19.76% 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%

MAIR

Capital Goods industry group

19.76%

Max
36.60%
MAIR
19.76%
Q3
18.33%
Median
11.12%
Q1
5.14%
Min
-12.63%
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Carrier Global (CARR) vs. Madison Air (MAIR): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Carrier Global (CARR) and Madison Air (MAIR)
MetricCARRMAIR
ROE (TTM)-13.44%--
ROA (TTM)3.43%--
Net Margin (TTM)-7.90%3.73%
Operating Margin (TTM)11.00%19.76%
Gross Margin (TTM)24.38%39.06%

Growth

Revenue Growth

Madison Air (MAIR) at 34.07% sits in the top revenue growth quartile, while Carrier Global (CARR) at -3.29% is in the bottom quartile, showing a clear gap in revenue momentum.

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Carrier Global (CARR) vs. Madison Air (MAIR): A comparison of their Revenue Growth across different time periods.

EPS Growth

Madison Air (MAIR) at -2.32% is around its peer norm for EPS growth, while Carrier Global (CARR) at -72.03% drops into the bottom quartile, signaling weaker earnings momentum.

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Carrier Global (CARR) vs. Madison Air (MAIR): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Carrier Global (CARR) and Madison Air (MAIR)
MetricCARRMAIR
Revenue Growth (YoY)-3.29%34.07%
Revenue Growth (3Y CAGR)7.95%--
EPS Growth (YoY)-72.03%-2.32%
EPS Growth (3Y CAGR)-25.14%--

Financial Strength

Current Ratio (MRQ)

Madison Air (MAIR) at 1.82 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

MAIR

Capital Goods industry group

1.82

Max
5.22
Q3
2.95
Median
2.08
MAIR
1.82
Q1
1.43
Min
0.36
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Carrier Global (CARR) vs. Madison Air (MAIR): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Madison Air (MAIR) at 0.87 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

MAIR

Capital Goods industry group

0.87

Max
2.33
Q3
1.12
MAIR
0.87
Median
0.60
Q1
0.29
Min
0.00
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Carrier Global (CARR) vs. Madison Air (MAIR): 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 Madison Air (MAIR)
MetricCARRMAIR
Current Ratio (MRQ)1.001.82
Debt / Equity (MRQ)1.140.87
Net Debt / EBITDA3.243.37

Dividends

Dividend Yield (TTM)

Madison Air (MAIR) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Carrier Global (CARR) reports a yield of 1.80%, ranking against industry peers normally.

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%

MAIR

Capital Goods industry group

0.00%

Max
2.66%
Q3
1.14%
Median
0.24%
MAIR
0.00%
Q1
0.00%
Min
0.00%
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Carrier Global (CARR) vs. Madison Air (MAIR): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Madison Air (MAIR) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Carrier Global (CARR) reports a payout of 67.39%, ranking against industry peers normally.

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%

MAIR

Capital Goods industry group

0.00%

Max
67.39%
Q3
28.02%
Median
6.86%
MAIR
0.00%
Q1
0.00%
Min
0.00%
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Carrier Global (CARR) vs. Madison Air (MAIR): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Carrier Global (CARR) and Madison Air (MAIR)
MetricCARRMAIR
Dividend Yield (TTM)1.80%0.00%
Dividend Payout Ratio (TTM)67.39%0.00%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Madison Air (MAIR) trades at 164.57 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
--

MAIR

Capital Goods industry group

164.57

MAIR
164.57
Max
59.38
Q3
35.92
Median
25.41
Q1
19.47
Min
3.03
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Carrier Global (CARR) vs. Madison Air (MAIR): CARR does not report P/E ratio, so it has no value marker; MAIR is benchmarked against the Capital Goods industry group.

P/S Ratio (TTM)

On P/S ratio, both Carrier Global (CARR) at 1.88 and Madison Air (MAIR) at 3.09 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

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

MAIR

Capital Goods industry group

3.09

Max
7.54
Q3
3.76
MAIR
3.09
Median
2.15
Q1
1.03
Min
0.03
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Carrier Global (CARR) vs. Madison Air (MAIR): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Carrier Global (CARR) at 4.27 and Madison Air (MAIR) at 3.17 are valued close to their industries’ norm against book — neither stands out from peers.

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

MAIR

Capital Goods industry group

3.17

Max
9.66
Q3
5.00
MAIR
3.17
Median
3.12
Q1
1.81
Min
-1.08
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Carrier Global (CARR) vs. Madison Air (MAIR): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Carrier Global (CARR) and Madison Air (MAIR)
MetricCARRMAIR
P/E Ratio (TTM)--164.57
P/S Ratio (TTM)1.883.09
P/B Ratio (MRQ)4.273.17
Free Cash Flow Yield (TTM)4.54%--