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.
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Carrier Global Corporation (CARR) Free cash flow margin
Carrier Global Corporation's free cash flow margin over the twelve months to 30 June 2026 was 8.72%, down 1.0 percentage points from fiscal 2025 (9.75%). Over the past ten years it has ranged from 0.20% (fiscal 2024) to 11.4% (fiscal 2023); the current reading is higher than 67% of that period. That is above the Building Products & Equipment industry median of 7.60% and above the Industrials sector median of 2.43%.
Free cash flow margin, annual
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Annual newest first
| Period | Free cash flow margin | Change (points) |
|---|---|---|
| FY2025 | 9.75% | 9.55 |
| FY2024 | 0.20% | (11.24) |
| FY2023 | 11.4% | 3.19 |
| FY2022 | 8.25% | (0.93) |
| FY2021 | 9.18% | 1.27 |
| FY2020 | 7.91% | (1.87) |
| FY2019 | 9.78% | 0.31 |
| FY2018 | 9.47% | (0.48) |
| FY2017 | 9.95% | — |
Against its own ten years
Free cash flow margin against peers
| Company | Free cash flow margin |
|---|---|
| WMS Advanced Drainage Systems, Inc. compare | 17.1% |
| CSL Carlisle Companies Incorporated compare | 17.0% |
| TT Trane Technologies plc compare | 16.1% |
| MAS Masco Corporation compare | 15.0% |
| LII Lennox International, Inc. compare | 14.0% |
| JCI Johnson Controls International plc compare | 12.8% |
| SPXC SPX Technologies, Inc. compare | 12.3% |
| OC Owens Corning Inc compare | 9.87% |
| CARR Carrier Global Corporation | 8.72% |
| Building Products & Equipment industry median | 7.60% |
| Industrials sector median | 2.43% |
| Market median | 0.00% |
What Free cash flow margin is
Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.
(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue
More on CARR
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement