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Financials · CARR

Carrier Global Corporation (CARR) financials

For the twelve months ended Sep 30, 2026, Carrier Global Corporation reported $22.79B of revenue and -$1.73B of net income.

Revenue, TTM
$22.79B
Revenue growth, YoY
+3.3%
Net income, TTM
-$1.73B
Net margin
-7.6%
Free cash flow, TTM
$2.38B
EPS, diluted, TTM
-$2.21
Cash
$1.35B
Total debt
$11.47B
P/S
1.91
Market cap
$43.63B
Annual revenue$21.75B
FY2018FY2025
Annual net income$1.48B
FY2018FY2025
Annual free cash flow$2.12B
FY2018FY2025

CARR revenue and earnings growth

CARR revenueQ3 2026$6.26B

Quarter YoY
+12.3%
QoQ
-1.4%
FY YoY
-3.3%
5Y CAGR
+4.5%

CARR revenue was $6.26B in fiscal Q3 2026 (ended Sep 30, 2026), up 12.3% from a year earlier and down 1.4% from the prior quarter. For the full fiscal 2025 it was $21.75B, down 3.3% from fiscal 2024. Compound annual growth was +4.5% over 5 years. It rose in 3 of the last 7 fiscal years.

CARR net incomeQ3 2026-$2.59B

FY YoY
-73.5%
5Y CAGR
-5.6%

CARR net income was -$2.59B in fiscal Q3 2026 (ended Sep 30, 2026), compared with $428.00M a year earlier. For the full fiscal 2025 it was $1.48B, down 73.5% from fiscal 2024. Compound annual growth was -5.6% over 5 years. It rose in 2 of the last 7 fiscal years.

CARR EPSQ3 2026-$3.16

FY YoY
-72.0%
5Y CAGR
-5.2%

CARR diluted EPS was -$3.16 in fiscal Q3 2026 (ended Sep 30, 2026), compared with $0.50 a year earlier. For the full fiscal 2025 it was $1.72, down 72.0% from fiscal 2024. Compound annual growth was -5.2% over 5 years.

CARR free cash flowQ3 2026$674.00M

Quarter YoY
+200.9%
QoQ
-16.8%
FY YoY
48x
5Y CAGR
+9.0%

CARR free cash flow was $674.00M in fiscal Q3 2026 (ended Sep 30, 2026), up 200.9% from a year earlier and down 16.8% from the prior quarter. For the full fiscal 2025 it was $2.12B, up about 48-fold from fiscal 2024. Compound annual growth was +9.0% over 5 years. It rose in 4 of the last 7 fiscal years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Revenue$21.75B$22.49B$18.95B$17.29B$20.61B$17.46B$18.61B$18.91B
Cost of revenue-$16.50B$13.79B$12.99B----
Gross profit-$5.98B$5.16B$4.30B----
Research and development$625.00M$686.00M$493.00M$416.00M$503.00M$419.00M$401.00M$400.00M
Selling, general and admin$3.09B$3.20B$2.61B$1.98B$3.12B$2.82B$2.76B$2.69B
Operating income$2.17B$2.65B$2.16B$3.98B$2.65B$3.08B$2.49B$3.64B
Pre-tax income$1.80B$2.27B$2.00B$3.82B$2.40B$2.85B$2.67B$3.84B
Income tax$240.00M$1.06B$521.00M$616.00M$699.00M$849.00M$517.00M$1.07B
Net income$1.48B$5.60B$1.35B$3.53B$1.66B$1.98B$2.12B$2.73B
EPS, basic$1.74$6.24$1.61$4.19$1.92$2.29$2.44$3.16
EPS, diluted$1.72$6.15$1.58$4.10$1.87$2.25$2.44$3.16
Diluted shares862.4M911.7M853.0M861.2M890.3M880.2M866.2M866.2M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Cash and equivalents$1.55B$3.97B$9.85B$3.30B$2.77B$3.12B$957.00M$1.13B
Receivables$2.64B$2.65B$2.08B$2.83B$2.40B$2.78B$2.73B-
Inventory$2.48B$2.30B$1.82B$2.64B$1.97B$1.63B$1.33B-
Current assets$8.53B$9.89B$19.58B$9.88B$11.41B$8.52B$5.96B-
Goodwill$15.50B$14.60B$7.52B$7.63B$9.35B$10.14B$9.88B$9.85B
Total assets$37.19B$37.40B$32.82B$26.09B$26.17B$25.09B$22.41B-
Current liabilities$7.11B$7.89B$6.98B$6.03B$6.63B$5.11B$4.47B-
Short-term debt$468.00M$1.34B$51.00M$140.00M$183.00M$191.00M$237.00M-
Long-term debt$11.37B$11.03B$14.24B$8.70B$9.51B$10.04B$82.00M-
Total debt$11.83B$12.36B$14.29B$8.84B$9.70B$10.23B$319.00M-
Total liabilities$23.06B$23.01B$23.82B$18.01B$19.08B$18.52B$7.97B-
Shareholders' equity$14.13B$14.39B$9.01B$8.08B$7.09B$6.58B$14.44B$14.27B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Operating cash flow$2.51B$563.00M$2.61B$1.74B$2.24B$1.69B$2.06B$2.06B
Capital expenditures$392.00M$519.00M$439.00M$317.00M$344.00M$312.00M$243.00M$263.00M
Free cash flow$2.12B$44.00M$2.17B$1.43B$1.89B$1.38B$1.82B$1.79B
Investing cash flow-$307.00M-$2.02B-$660.00M$1.75B-$692.00M$1.11B-$259.00M$415.00M
Financing cash flow-$4.67B-$4.64B$4.61B-$2.93B-$1.56B-$681.00M-$1.98B-$2.63B
Dividends paid$772.00M$670.00M$620.00M$509.00M$417.00M$138.00M$0$0
Share repurchases$2.89B$1.94B$62.00M$1.38B$527.00M$0$0-
Stock-based compensation$74.00M$98.00M$81.00M$77.00M$92.00M$77.00M$52.00M$44.00M
Depreciation and amortization$1.27B$1.23B$491.00M$328.00M$338.00M$336.00M$335.00M$357.00M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Revenue growth, YoY-3.3%18.7%9.6%-16.1%18.1%-6.2%-1.6%-
Net income growth, YoY-73.5%315.4%-61.8%112.4%-16.0%-6.3%-22.6%-
EPS growth, YoY-72.0%289.2%-61.5%119.3%-16.9%-7.8%-22.8%-
Gross margin-26.6%27.2%24.9%----
Operating margin10.0%11.8%11.4%23.0%12.8%17.7%13.4%19.2%
Net margin6.8%24.9%7.1%20.4%8.1%11.4%11.4%14.5%
Free cash flow margin9.8%0.2%11.4%8.2%9.2%7.9%9.8%9.5%
Return on equity10.5%38.9%15.0%43.8%23.5%30.1%14.7%19.2%
Return on assets4.0%15.0%4.1%13.5%6.4%7.9%9.4%-
Current ratio1.201.252.801.641.721.671.33-
Debt to equity0.840.861.591.091.371.550.02-

Source: XBRL data Carrier Global Corporation files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

CARR peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
CARR$22.79B+3.3%-$1.73B-7.6%$43.63B
ASML€32.67B+15.6%€9.61B29.4%$583.23B
LRCX$26.13B+33.4%$8.45B32.3%$276.45B
TMO$47.35B+8.3%$7.07B14.9%$267.38B
DE$47.98B+8.0%$4.87B10.2%$186.39B
DHR$25.61B+5.5%$4.33B16.9%$165.41B
ETN$31.98B+20.1%$3.90B12.2%$139.59B
JCI$24.43B+5.1%$3.53B14.5%$85.71B
ITW$16.65B+4.8%$3.23B19.4%$81.49B

CARR FAQ

8 questions
  • What is CARR revenue?
    Carrier Global Corporation (CARR) reported $22.79B of revenue for the twelve months ended Sep 30, 2026. That is up 3.3% from the year before. Revenue for fiscal 2025 was $21.75B.
  • Is CARR profitable?
    No. Carrier Global Corporation reported a net loss of $1.73B for the twelve months ended Sep 30, 2026.
  • How much cash and debt does CARR have?
    Carrier Global Corporation reported $1.35B in cash and cash equivalents and $11.47B of debt on its most recent balance sheet in SEC filings.
  • How fast is CARR revenue growing?
    Carrier Global Corporation's revenue changed -3.3% in fiscal 2025, to $21.75B. Its compound annual growth rate was +4.5% over 5 years.
  • What is CARR free cash flow?
    Carrier Global Corporation generated $2.38B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $2.86B less capital expenditures.
  • What is CARR earnings per share?
    Diluted earnings per share were -$2.21 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did CARR last report financial results?
    The latest statements here come from Carrier Global Corporation's 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
  • Where does this CARR financial data come from?
    Quantisnow builds these statements from the structured XBRL data Carrier Global Corporation files with the SEC. It is provided for information only and is not investment advice.