Pricing Log in Create free account
Friday 6 November 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.

Revenue
+12.3%
EPS
−732.0%
Free cash flow
+200.9%
Total debt
−3.71%

Quarter to September 2026, against a year earlier

53.57 0.36 +0.68%
Market cap
$43.5B
P/E
0.0×
Fwd P/E
47.7×
Dividend yield
1.80%
F-score
5/9
Altman Z
2.45
Beneish M
−2.56
Dividend safety
67/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Carrier Global Corporation (CARR) Debt to equity

Alert me on Debt to equity

Carrier Global Corporation's debt to equity at the end of the quarter to 30 September 2026 was 1.1×, up 0.3× from fiscal 2025 (0.8×). Over the past ten years it has ranged from 0.0× (fiscal 2017) to 1.6× (fiscal 2023); the current reading is higher than 44% of that period. That is above the Building Products & Equipment industry median of 0.6× and above the Industrials sector median of 0.3×.

Debt to equity, annual

Embed this chart

Annual newest first

Period Debt to equity Change
FY2025 0.8× (1.79%)
FY2024 0.9× (46.26%)
FY2023 1.6× 44.98%
FY2022 1.1× (19.90%)
FY2021 1.4× (12.09%)
FY2020 1.6× 6,934.84%
FY2019 0.0× 9.95%
FY2018 0.0× —
FY2017 0.0× —

Quarterly newest first

Period Debt to equity Change
Sep 2026 1.1× 24.10%
Jun 2026 0.9× 0.70%
Mar 2026 0.9× 5.18%
Dec 2025 0.8× 4.31%
29 more quarters

Against its own ten years

Low 0.0× High 1.6×
Ten-year median 0.9×
Current reading's percentile 44

Debt to equity against peers

Company Debt to equity
MAS Masco Corporation compare −16.8×
TT Trane Technologies plc compare 0.5×
JCI Johnson Controls International plc compare 0.7×
MAIR Madison Air Solutions Corporation compare 0.8×
LII Lennox International, Inc. compare 0.9×
WMS Advanced Drainage Systems, Inc. compare 1.0×
CARR Carrier Global Corporation 1.1×
OC Owens Corning Inc compare 1.5×
CSL Carlisle Companies Incorporated compare 2.0×
Building Products & Equipment industry median 0.6×
Industrials sector median 0.3×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

More on CARR