Saturday 17 October 2026 Export CARR’s income statement to Excel — free account

Carrier Global Corporation

CARR Industrials Building Products & Equipment

Carrier Global Corporation’s revenue for fiscal 2025 (year ended December 2025) was $21.7 billion, down 3.29% from fiscal 2024. In the quarter to June 2026, revenue grew 3.89%, EPS fell 13.0%, free cash flow grew 42.6% and total debt rose 4.45%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for five consecutive years; insiders bought in the last twelve months.

55.00 0.04 +0.07%

Follow CARR

Alert me

Market cap: $45.3B
P/E: 37.9×
Fwd P/E: 31.1×
Dividend yield: 2.15%
F-score: 5/9
Altman Z: 2.45
Beneish M: −2.56
Dividend safety: 67/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 1.02

Total sells 750.00

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	1	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	1	—	—	—	—	—

Insider Ownership 5.21%

Capital & Financial Ratios $m

Market Cap 45,300.00

Revenue 22,108.00

Net Income 1,323.00

Free Cash Flow 1,928.00

Net Debt 10,608.00

Current Ratio 1.02

Debt/Equity 0.89

P/E ratio 37.93

Fwd P/E 31.10

P/S ratio 2.06

P/B ratio 3.38

Past 5Y EPS Growth (5.23%)

This Y EPS Growth 11.60%

Next Y EPS Growth 14.22%

Next Y revenue growth 20.25%

Next 5Y EPS Growth 13.09%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 88.13%

10-year low 10-year high

P/S against its own 10 years 35.25%

10-year low 10-year high

P/B against its own 10 years 5.80%

10-year low 10-year high

EV/Sales against its own 10 years 43.05%

10-year low 10-year high

EV/FCF against its own 10 years 39.72%

10-year low 10-year high

Dividends

Payout Ratio 0.82

Annual Dividend Rate 1.19

Annual Dividend Yield 2.15%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.96	0.24 0.24 0.24 0.24
2025	1.09	0.23 0.23 0.23
2024	0.80	0.19 0.19 0.19 0.23
2023	0.75	0.19 0.19 0.19 0.19
2022	0.64	0.15 0.15 0.15 0.19
2021	0.51	0.12 0.12 0.12 0.15
2020	0.28	0.08 0.08 0.12
2019	Powerpack
2018	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	9,852	3,969	1,555	1,344
Receivables	2,080	2,651	2,639	3,246
Inventory	1,823	2,299	2,483	2,759
Other	728	972	1,264	1,250
	19,576	9,891	8,533	9,414

	2023	2024	2025	Q'26
Payables	2,483	2,458	2,702	3,216
ST’ Debt	51	1,252	468	1,638
Other	425	1,336	468	—
	6,981	7,892	7,114	9,231

Compound Annual Growth %

	10y	5y	3y
Sales	—	4.49%	7.95%
Cash Flow	—	8.23%	12.97%
Earnings	—	(5.62%)	(25.12%)
Book Value	—	16.52%	20.49%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	5,341	6,351	—	—	—
’25	5,218	6,113	5,579	4,837	21,747
’24	5,420	5,934	5,984	5,148	22,486
’23	5,273	5,992	4,935	2,751	18,951
’22	4,654	5,211	5,451	1,972	17,288
’21	4,699	5,440	5,341	5,133	20,613
’20	3,888	3,972	5,002	4,594	17,456

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	79	927	—	—	—
’25	483	649	341	1,040	2,513
’24	40	660	(269)	132	563
’23	120	384	1,041	1,062	2,607
’22	(202)	32	790	1,123	1,743
’21	184	561	579	913	2,237
’20	47	509	937	199	1,692

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(15)	810	—	—	—
’25	420	568	224	909	2,121
’24	(62)	552	(361)	(85)	44
’23	50	310	968	840	2,168
’22	(258)	(34)	699	1,019	1,426
’21	131	482	505	775	1,893
’20	(1)	463	880	38	1,380

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.28	0.60	—	—	—
’25	0.47	0.68	0.50	0.06	1.72
’24	0.29	2.55	0.62	2.82	6.15
’23	0.44	0.23	0.42	0.49	1.58
’22	1.58	0.67	1.53	0.32	4.10
’21	0.43	0.55	0.53	0.36	1.87
’20	0.11	0.30	0.84	1.00	2.25

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	11.50	34.21	33.10	40.28	53.13	50.30	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	41.48	58.89	54.64	60.04	83.32	81.09
People
People	Employees	—	—	—	52,635	19,000	58,000	52,000	53,000	48,000	47,000
	Revenue/emp, $m	—	0.00	0.00	0.35	0.92	0.36	0.33	0.36	0.47	0.46
Income, $m
Income, $m	Revenue	—	17,814	18,914	18,608	17,456	20,613	17,288	18,951	22,486	21,747
	Gross margin, %	—	29.11	29.44	29.12	29.27	29.01	24.86	27.24	26.60	25.86
	EBT	—	3,054	3,842	2,672	2,855	2,400	3,823	1,999	2,274	1,798
	EBT margin, %	—	17.14	20.31	14.36	16.36	11.64	22.11	10.55	10.11	8.27
	Net income	—	1,267	2,769	2,155	2,006	1,701	3,584	1,440	5,708	1,587
	Depreciation	—	372	357	335	336	338	328	491	1,232	1,274
Per share, $
Per share, $	Revenue	—	20.57	21.84	21.48	20.15	23.76	20.50	22.63	25.03	25.51
	Earnings	—	1.42	3.20	2.49	2.29	1.92	4.19	1.61	6.24	1.74
	Cash flow	—	2.42	2.37	2.38	1.95	2.58	2.07	3.11	0.63	2.95
	Capex	—	(0.38)	(0.30)	(0.28)	(0.36)	(0.40)	(0.38)	(0.52)	(0.58)	(0.46)
	Free cash flow	—	2.05	2.07	2.10	1.59	2.18	1.69	2.59	0.05	2.49
	Book value	—	0.00	16.47	16.66	7.59	8.18	9.58	10.75	16.03	16.57
	Shares, m	—	866	866	866	867	868	843	837	898	852
Valuation, ×
Valuation, ×	P/E	—	2.66	4.82	4.82	16.47	28.25	9.95	34.85	10.68	30.72
	P/S	—	0.00	0.56	0.56	1.87	2.28	2.03	2.49	2.73	2.07
	P/B	—	0.72	0.72	0.72	4.97	6.63	4.35	5.25	4.26	3.19
	EV/Sales	—	0.00	0.52	0.52	2.28	2.61	2.34	2.73	3.10	2.54
	EV/FCF	—	0.00	5.55	5.55	28.84	28.41	28.34	23.85	1,584.18	26.08
Cash, $m
Cash, $m	Operating cash flow	—	2,098	2,055	2,063	1,692	2,237	1,743	2,607	563	2,513
	Capex	—	(326)	(263)	(243)	(312)	(344)	(317)	(439)	(519)	(392)
	Free cash flow	—	1,772	1,792	1,820	1,380	1,893	1,426	2,168	44	2,121
Balance, $m
Balance, $m	Working capital	—	—	1,643	1,490	3,414	4,780	3,847	12,595	1,999	1,419
	Total debt	—	—	287	319	10,227	9,696	8,842	14,293	12,278	11,833
	Net debt	—	—	(842)	(633)	7,112	6,709	5,322	4,441	8,309	10,278
	Shareholders’ equity	—	—	14,269	14,435	6,578	7,094	8,076	9,005	14,395	14,128
Returns, %
Returns, %	ROA	—	11.29	25.16	9.59	8.35	6.49	13.53	4.58	15.96	3.98
	ROIC	—	0.00	16.93	11.28	14.08	11.98	18.58	10.04	7.28	5.56
	ROE	—	0.00	19.52	14.74	18.86	24.34	46.59	15.80	47.90	10.41

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
TT Trane Technologies plc	$100.6B	34.8×	30.8×	+10.56% (above 0%: growing)	+6.94% (above 0%: growing)	+67.93% (above 0%: growing)	35.57%	19.27%	Compare
JCI Johnson Controls International plc	$89.4B	25.2×	30.7×	+9.29% (above 0%: growing)	+14.95% (above 0%: growing)	+72.29% (above 0%: growing)	37.41%	14.92%	Compare
CARR Carrier Global Corporation	$45.3B	37.9×	31.1×	+3.89% (above 0%: growing)	−13.04% (below 0%: shrinking)	+42.61% (above 0%: growing)	27.21%	12.99%
MAS Masco Corporation	$14.3B	16.8×	16.5×	−2.88% (below 0%: shrinking)	+25.00% (above 0%: growing)	+67.78% (above 0%: growing)	43.57%	23.64%	Compare
CSL Carlisle Companies Incorporated	$13.3B	19.0×	18.5×	+8.33% (above 0%: growing)	+6.75% (above 0%: growing)	−22.53% (below 0%: shrinking)	36.20%	22.45%	Compare
LII Lennox International, Inc.	$12.4B	16.1×	20.8×	+2.96% (above 0%: growing)	−1.40% (below 0%: shrinking)	+133.39% (above 0%: growing)	34.91%	22.97%	Compare
WMS Advanced Drainage Systems, Inc.	$9.7B	21.9×	21.2×	+20.63% (above 0%: growing)	+18.92% (above 0%: growing)	−8.28% (below 0%: shrinking)	40.76%	25.43%	Compare
OC Owens Corning Inc	$9.0B	— (loss-making)	13.4×	+0.33% (above 0%: growing)	−34.19% (below 0%: shrinking)	+61.87% (above 0%: growing)	28.77%	17.49%	Compare
SPXC SPX Technologies, Inc.	$8.4B	29.5×	34.3×	+22.92% (above 0%: growing)	+40.18% (above 0%: growing)	+96.84% (above 0%: growing)	40.18%	16.94%	Compare
Median of peers	$12.9B	21.9×	21.0×	+8.81%	+10.94%	+67.86%	36.81%	20.86%

All 35 Building Products & Equipment stocks →

Carrier Global Corporation (CARR) key facts

Concern: Carrier Global Corporation’s revenue for fiscal 2025 (year ended December 2025) was $21.7 billion, down 3.29% from fiscal 2024.
Carrier Global Corporation (CARR) is a Building Products & Equipment company in the Industrials sector, listed on the New York Stock Exchange.
As of October 16, 2026, CARR traded at $55.00, a market capitalization of $45.3 billion.
Carrier Global Corporation pays an annual dividend of $1.19 per share, a yield of 2.15%, with a payout ratio of 82.3%.
Return on equity was 10.4% and debt-to-equity 0.89.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 2.45 (grey zone) for fiscal 2025.