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1. Company Snapshot

1.a. Company Description

Carel Industries S.p.A., together with its subsidiaries, designs, manufactures, markets, and distributes control and humidification solutions for the commercial, industrial, and residential heating, ventilation, and air-conditioning (HVAC); and refrigeration markets in Europe, the Middle East, Africa, North America, South America, and the Asia Pacific.It offers programmable controllers, room and unit terminals, HVAC and refrigeration parametric controls, isothermal and adiabatic humidifiers, water treatment systems, IoT digital services, remote management and monitoring systems, connectivity products, sensors and protection devices, food retail products, electronic expansion valves and drivers, speed controllers and investors, obsolete products, and power solutions, as well as temperature, humidity, and pressure control solutions.The company also provides technical support, field, digital, and repair services, as well as spare parts.


In addition, it offers system and unit control solutions.Carel Industries S.p.A. was founded in 1973 and is headquartered in Brugine, Italy.

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1.b. Last Insights on CRL

Carel Industries' recent performance was impacted by a decline in net profit, despite robust revenue growth and improved profitability. The company's strong organic growth was driven by its HVAC segment and North American operations. A recent earnings call highlighted these positives, but a dip in the last month may have raised concerns among investors. With a solid year-to-date gain, investors are weighing their next move. The company's impressive 39.2% return over the last year and 26.6% gain since the start of the year underscore its growth trajectory.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Carel Industries SpA (FRA:CIG) Q3 2025 Earnings Call Highlights: Strong Organic Growth and ...

Nov -22

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Does Recent Share Dip Signal a New Opportunity for Carel Industries in 2025?

Sep -09

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Carel Industries SpA (FRA:CIG) Q2 2025 Earnings Call Highlights: Strong Organic Growth Amidst ...

Aug -04

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Carel Industries SpA (FRA:CIG) Q1 2025 Earnings Call Highlights: Navigating Growth and Challenges

May -14

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Carel Industries SpA (FRA:CIG) Q2 2024 Earnings Call Highlights: Navigating Challenges with ...

Oct -09

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (8.76%)

6. Segments

Heating Ventilation Air Conditioning

Expected Growth: 8.5%

Carel Industries S.p.A.'s 8.5% growth in Heating Ventilation Air Conditioning (HVAC) is driven by increasing demand for energy-efficient solutions, growing adoption of IoT-enabled HVAC systems, and rising investments in building automation and smart buildings. Additionally, stringent regulations and standards for energy consumption and indoor air quality are also contributing to the segment's growth.

Refrigeration

Expected Growth: 9.5%

Carel Industries S.p.A.'s refrigeration segment growth of 9.5% is driven by increasing demand for energy-efficient solutions, expansion in the food retail and industrial process cooling markets, and growing adoption of natural refrigerants. Additionally, the company's focus on innovation, strategic partnerships, and geographic expansion into emerging markets contribute to its growth momentum.

Non-core

Expected Growth: 7.0%

Carel Industries S.p.A.'s non-core segment growth of 7.0% is driven by strategic divestments, improved operational efficiency, and a focus on high-margin businesses. Additionally, the company's efforts to optimize its product portfolio and reduce complexity have contributed to this growth. Furthermore, the divestment of non-core assets has enabled the company to redirect resources towards core businesses, driving growth and profitability.

7. Detailed Products

HVAC Controls

Carel Industries S.p.A. offers a range of HVAC (Heating, Ventilation, and Air Conditioning) controls that provide efficient and precise temperature control solutions for various applications.

Refrigeration Controls

Carel Industries S.p.A. provides advanced refrigeration controls that optimize the performance of refrigeration systems, ensuring energy efficiency and reduced energy consumption.

Humidity and Temperature Sensors

Carel Industries S.p.A. offers a range of humidity and temperature sensors that provide accurate and reliable measurements for various applications.

Data Loggers and Monitoring Systems

Carel Industries S.p.A. provides data loggers and monitoring systems that enable real-time monitoring and data analysis for various applications.

Air Quality and Gas Sensors

Carel Industries S.p.A. offers air quality and gas sensors that detect and measure various gases and pollutants, ensuring a safe and healthy environment.

8. Carel Industries S.p.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Carel Industries S.p.A. operates in a market with moderate threat of substitutes, as customers have some alternatives but they are not very attractive.

Bargaining Power Of Customers

Carel Industries S.p.A. has a diverse customer base, which reduces the bargaining power of individual customers.

Bargaining Power Of Suppliers

Carel Industries S.p.A. has a moderate dependence on its suppliers, but it has some bargaining power due to its size and reputation.

Threat Of New Entrants

The market in which Carel Industries S.p.A. operates has low barriers to entry, making it easy for new entrants to join the market.

Intensity Of Rivalry

The market in which Carel Industries S.p.A. operates is highly competitive, with many players competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 30.45%
Debt Cost 6.35%
Equity Weight 69.55%
Equity Cost 9.25%
WACC 8.37%
Leverage 43.77%

11. Quality Control: Carel Industries S.p.A. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Value: 4.5

Growth: 8.8

Quality: 6.3

Yield: 3.1

Momentum: 9.0

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A-Score: 4.6/10

Value: 5.4

Growth: 6.1

Quality: 6.7

Yield: 5.0

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A-Score: 4.5/10

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Carel

A-Score: 4.2/10

Value: 1.6

Growth: 5.0

Quality: 7.1

Yield: 1.2

Momentum: 7.0

Volatility: 3.0

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A-Score: 4.0/10

Value: 6.2

Growth: 6.2

Quality: 4.8

Yield: 2.5

Momentum: 0.5

Volatility: 3.7

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Nynomic

A-Score: 2.7/10

Value: 7.3

Growth: 2.9

Quality: 3.2

Yield: 0.0

Momentum: 0.5

Volatility: 2.3

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

24.7$

Current Price

24.7$

Potential

-0.00%

Expected Cash-Flows