What is Carrier Global Corporation's earnings per share (EPS)?

Carrier Global Corporation (CARR) reported diluted earnings per share of $1.72 for fiscal year 2025. This represents a -72.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Carrier Global Corporation (CARR) Financials

CARR NYSE

Trailing 12 months to June 30, 2026

Revenue $22.1B -1.6% YoY

Net Income $1.2B YoY not available

EPS (Diluted) $1.45 -8.8% YoY

Free Cash Flow $1.9B +255.7% YoY

Market Cap $46.5B as of Oct 26, 2026

Price / Sales 2.1x on $22.1B revenue, trailing 12 months to June 30, 2026

Price / Earnings 38.1x on $1.2B net income, trailing 12 months to June 30, 2026

Price / Book 3.5x on $13.1B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 26, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 28, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 28, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CARR SEC filings page.

Carrier Global Corporation (CARR) reported $22.1B in revenue over the twelve months to Jun 30, 2026, down 1.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CARR FY2025 2026-10-26

Carrier’s 2025 results show cash generation rebounded sharply even as operating profitability and short-term balance-sheet cushion weakened.

FY2025 paired a -73.5% net-income decline with a 346.4% operating-cash-flow increase, showing the prior year’s earnings spike was not a dependable guide to cash generation. Free cash flow recovered from $44M to $2.1B even as operating margin fell, separating cash recovery from operating improvement.

Revenue fell 3.3% while operating income fell 17.9%. With operating margin at 10.0%, the sharper profit decline indicates weaker operating leverage rather than a simple sales slowdown.

Debt-to-equity was 0.8x, versus 1.6x in FY2023, so the balance sheet is less debt-heavy than two years earlier. Yet current ratio slipped to 1.2x, leaving less short-term headroom even as liabilities represented 62.0% of assets.

Financial Health Signals

Financial Health Score 48/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Carrier Global Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Carrier Global Corporation has an operating margin of 10.0%, meaning the company retains $10 of operating profit per $100 of revenue. This strong profitability earns a score of 65/100, reflecting efficient cost management and pricing power. This is down from 11.8% the prior year.

Growth

Carrier Global Corporation's revenue declined 3.3% year-over-year, from $22.5B to $21.7B. This contraction results in a growth score of 57/100.

Leverage

Carrier Global Corporation has elevated debt relative to equity (D/E of 0.82), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 22/100, reflecting increased financial risk.

Liquidity

Carrier Global Corporation's current ratio of 1.20 is below the typical benchmark, resulting in a score of 29/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Carrier Global Corporation has a free cash flow margin of 9.8%, earning a moderate score of 56/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Carrier Global Corporation's ROE of 10.8% shows moderate profitability relative to equity, earning a score of 59/100. This is down from 39.8% the prior year.

Altman Z-Score Grey Zone

2.49

Carrier Global Corporation scores 2.49, placing it in the grey zone between 1.81 and 2.99. The largest contribution to the score comes from a market capitalization of $46.5B against total liabilities of $23.1B. This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

4/8

Carrier Global Corporation passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.

Earnings Quality Cash-Backed

1.69x

For every $1 of reported earnings, Carrier Global Corporation generates $1.69 in operating cash flow ($2.5B OCF vs $1.5B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

4.74x

Carrier Global Corporation earns $4.74 in operating income for every $1 of interest expense ($2.2B vs $458.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$6.4B

YoY+3.9%

QoQ+18.9%

5Y CAGR+3.1%

Carrier Global Corporation generated $6.4B in revenue in Q2 2026. This represents an increase of 3.9% from the same quarter a year earlier. Against the prior quarter it is up 18.9%.

EBITDA

$1.5B

YoY+19.2%

QoQ+153.3%

Carrier Global Corporation's EBITDA was $1.5B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 19.2% from the same quarter a year earlier. Against the prior quarter it is up 153.3%.

Net Income

$501.0M

YoY-15.2%

QoQ+110.5%

Carrier Global Corporation reported $501.0M in net income in Q2 2026. This represents a decrease of 15.2% from the same quarter a year earlier. Against the prior quarter it is up 110.5%.

EPS (Diluted)

$0.60

YoY-11.8%

QoQ+114.3%

5Y CAGR+1.8%

Carrier Global Corporation earned $0.60 per diluted share (EPS) in Q2 2026. This represents a decrease of 11.8% from the same quarter a year earlier. Against the prior quarter it is up 114.3%.

Cash & Balance Sheet

Free Cash Flow

$810.0M

YoY+42.6%

QoQn/m

5Y CAGR+10.9%

Carrier Global Corporation generated $810.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 42.6% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Cash & Debt

$1.3B

YoY-25.2%

QoQ-2.0%

5Y CAGR-12.6%

Carrier Global Corporation held $1.3B in cash against $10.3B in long-term debt as of Q2 2026.

Dividends Per Share

$0.48

YoY+6.7%

Carrier Global Corporation paid $0.48 per share in dividends in Q2 2026. This represents an increase of 6.7% from the same quarter a year earlier.

Shares Outstanding

Diluted avg 837M

Carrier Global Corporation had a weighted average of 837M diluted shares in Q2 2026; the shares outstanding count is not reported for that period.

Margins & Returns

Operating Margin

13.0%

YoY-1.8pp

QoQ+8.1pp

5Y change-1.4pp

Carrier Global Corporation's operating margin was 13.0% in Q2 2026, reflecting core business profitability. This is down 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.1 percentage points.

Net Margin

7.9%

YoY-1.8pp

QoQ+3.4pp

Carrier Global Corporation's net profit margin was 7.9% in Q2 2026, showing the share of revenue converted to profit. This is down 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.4 percentage points.

Return on Equity

3.8%

YoY-0.2pp

QoQ+2.0pp

Carrier Global Corporation's quarterly ROE was 3.8% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

R&D Spending

$148.0M

YoY-8.1%

QoQ+3.5%

Carrier Global Corporation invested $148.0M in research and development in Q2 2026. This represents a decrease of 8.1% from the same quarter a year earlier. Against the prior quarter it is up 3.5%.

Share Buybacks

$439.0M

YoY+29.1%

QoQ+43.5%

5Y CAGR+36.1%

Carrier Global Corporation spent $439.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 29.1% from the same quarter a year earlier. Against the prior quarter it is up 43.5%.

Capital Expenditures

$117.0M

YoY+44.4%

QoQ+24.5%

5Y CAGR+8.2%

Carrier Global Corporation invested $117.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 44.4% from the same quarter a year earlier. Against the prior quarter it is up 24.5%.

CARR Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CARR quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY228-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K
Revenue	$22.1B	$21.7B-3.3%	$22.5B+18.7%	$19.0B+9.6%	$17.3B-16.1%	$20.6B+18.1%	$17.5B-6.2%	$18.6B-1.6%	$18.9B
Cost of Revenue	N/A	N/A	$16.5B+19.7%	$13.8B+6.1%	$13.0B	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	$6.0B+15.9%	$5.2B+20.1%	$4.3B	N/A	N/A	N/A	N/A
R&D Expenses	$602.0M	$625.0M-8.9%	$686.0M+39.1%	$493.0M+18.5%	$416.0M-17.3%	$503.0M+20.0%	$419.0M+4.5%	$401.0M+0.3%	$400.0M
SG&A Expenses	$3.2B	$3.1B-3.3%	$3.2B+22.6%	$2.6B+31.9%	$2.0B-36.6%	$3.1B+10.6%	$2.8B+2.1%	$2.8B+2.7%	$2.7B
Operating Income	$1.7B	$2.2B-17.9%	$2.6B+22.5%	$2.2B-45.8%	$4.0B+50.6%	$2.6B-14.2%	$3.1B+23.8%	$2.5B-31.5%	$3.6B
EBITDA	N/A	$3.4B-11.1%	$3.9B+46.3%	$2.7B-38.5%	$4.3B+44.6%	$3.0B-12.8%	$3.4B+21.0%	$2.8B-29.2%	$4.0B
Interest Expense	$480.0M	$458.0M-21.0%	$580.0M+89.5%	$306.0M+28.6%	$238.0M-25.4%	$319.0M+7.0%	$298.0M	N/A	N/A
Income Tax	$51.0M	$240.0M-77.4%	$1.1B+103.8%	$521.0M-15.4%	$616.0M-11.9%	$699.0M-17.7%	$849.0M+64.2%	$517.0M-51.8%	$1.1B
Net Income	$1.2B	$1.5B-73.5%	$5.6B+315.4%	$1.3B-61.8%	$3.5B+112.4%	$1.7B-16.0%	$2.0B-6.3%	$2.1B-22.6%	$2.7B
EPS (Basic)	N/A	$1.74-72.1%	$6.24+287.6%	$1.61-61.6%	$4.19+118.2%	$1.92-16.2%	$2.29-6.1%	$2.44-22.8%	$3.16
EPS (Diluted)	$1.45	$1.72-72.0%	$6.15+289.2%	$1.58-61.5%	$4.10+119.3%	$1.87-16.9%	$2.25-7.8%	$2.44-22.8%	$3.16
Diluted Shares (Avg)	N/A	862M-5.4%	912M+6.9%	853M-1.0%	861M-3.3%	890M+1.1%	880M+1.6%	866M0.0%	866M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'248-K	Q3'2410-Q
Revenue	$6.4B+3.9%	$5.3B+2.4%	$4.8B-6.0%	$5.6B-6.8%	$6.1B+3.0%	$5.2B-3.7%	$5.1B+19.3%	$6.0B+21.3%
R&D Expenses	$148.0M-8.1%	$143.0M-6.5%	$160.0M	$151.0M-12.2%	$161.0M+0.6%	$153.0M-20.3%	N/A	$172.0M+36.5%
SG&A Expenses	$810.0M-0.4%	$861.0M+18.1%	$747.0M	$803.0M+0.5%	$813.0M+3.0%	$729.0M-9.7%	N/A	$799.0M+20.3%
Operating Income	$825.0M-8.6%	$259.0M-58.8%	$101.0M-87.0%	$539.0M-29.4%	$903.0M+24.7%	$629.0M+63.4%	$774.0M+43.6%	$763.0M+49.6%
EBITDA	$1.5B+19.2%	$574.0M-38.4%	$430.0M	$864.0M-19.6%	$1.2B+19.8%	$932.0M+34.5%	N/A	$1.1B+77.7%
Interest Expense	$105.0M+15.4%	$90.0M+9.8%	$188.0M	$97.0M	$91.0M-42.0%	$82.0M-41.8%	N/A	N/A
Income Tax	$180.0M+11.1%	-$96.0M-186.5%	-$32.0M	-$1.0M-100.6%	$162.0M+35.0%	$111.0M+136.2%	N/A	$172.0M-2.8%
Net Income	$501.0M-15.2%	$238.0M-42.2%	$53.0M	$428.0M-4.3%	$591.0M-74.7%	$412.0M+53.2%	N/A	$447.0M+25.2%
EPS (Basic)	$0.61-11.6%	$0.29-38.3%	$0.07n/m	$0.500.0%	$0.69-73.4%	$0.47+56.7%	-$0.05-110.0%	$0.50+16.3%
EPS (Diluted)	$0.60-11.8%	$0.28-40.4%	$0.07n/m	$0.50+2.0%	$0.68-73.3%	$0.47+62.1%	-$0.05-110.2%	$0.49+16.7%
Diluted Shares (Avg)	837M-3.4%	843M-4.0%	N/A	859M-6.2%	866M-5.4%	878M-3.8%	N/A	915M+7.1%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.

CARR Balance Sheet

CARR quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY228-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K
Total Assets	$37.2B-0.6%	$37.4B+14.0%	$32.8B+25.8%	$26.1B-0.3%	$26.2B+4.3%	$25.1B+12.0%	$22.4B	N/A
Current Assets	$8.5B-13.7%	$9.9B-49.5%	$19.6B+98.2%	$9.9B-13.4%	$11.4B+33.8%	$8.5B+43.0%	$6.0B	N/A
Cash & Equivalents	$1.6B-60.8%	$4.0B-59.7%	$9.9B+198.7%	$3.3B+10.4%	$3.0B-4.1%	$3.1B+227.2%	$952.0M-15.7%	$1.1B
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Inventory	$2.5B+8.0%	$2.3B+26.1%	$1.8B-30.9%	$2.6B+34.0%	$2.0B+20.9%	$1.6B+22.3%	$1.3B	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	$2.8B+2.0%	$2.7B	N/A
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Goodwill	$15.5B+6.2%	$14.6B+94.2%	$7.5B-1.4%	$7.6B-18.4%	$9.3B-7.8%	$10.1B+2.6%	$9.9B+0.4%	$9.8B
Total Liabilities	$23.1B+0.2%	$23.0B-3.4%	$23.8B+32.2%	$18.0B-5.6%	$19.1B+3.0%	$18.5B+132.3%	$8.0B	N/A
Current Liabilities	$7.1B-9.9%	$7.9B+13.0%	$7.0B+15.7%	$6.0B-9.0%	$6.6B+29.7%	$5.1B+14.3%	$4.5B	N/A
Non-Current Liabilities	$15.9B+5.5%	$15.1B-10.2%	$16.8B+40.6%	$12.0B-3.8%	$12.5B-7.1%	$13.4B+282.8%	$3.5B	N/A
Long-Term Debt	$11.4B+3.1%	$11.0B-22.6%	$14.2B+63.7%	$8.7B-8.5%	$9.5B-5.2%	$10.0B+12139.0%	$82.0M	N/A
Total Equity	$13.8B-2.0%	$14.1B+62.3%	$8.7B+11.8%	$7.8B+14.6%	$6.8B+8.2%	$6.3B-55.7%	$14.1B	N/A
Retained Earnings	$12.2B+6.2%	$11.5B+74.2%	$6.6B+12.4%	$5.9B+104.7%	$2.9B+74.4%	$1.6Bn/m	$0	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'248-K	Q3'2410-Q
Total Assets	$37.4B-2.9%	$37.2B+2.0%	$37.2B-0.6%	$38.1B-5.3%	$38.5B-4.8%	$36.4B-10.7%	$37.4B+14.0%	$40.2B+51.5%
Current Assets	$9.4B+3.1%	$9.0B+6.8%	$8.5B-13.7%	$8.8B-21.0%	$9.1B-21.1%	$8.4B-27.9%	$9.9B-49.5%	$11.2B+6.5%
Cash & Equivalents	$1.3B-25.2%	$1.4B-19.3%	$1.6B-60.8%	$1.4B-36.0%	$1.8B-34.8%	$1.7B+43.9%	$4.0B-59.7%	$2.2B-39.6%
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Inventory	$2.8B-4.5%	$2.6B-2.5%	$2.5B+8.0%	$3.0B+13.5%	$2.9B-5.2%	$2.6B-17.0%	$2.3B+26.1%	$2.6B+3.3%
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Goodwill	$15.3B-2.6%	$15.3B+2.4%	$15.5B+6.2%	$15.7B+2.5%	$15.7B+2.8%	$15.0B-2.6%	$14.6B+94.2%	$15.3B+55.7%
Total Liabilities	$23.9B+1.8%	$23.4B+5.1%	$23.1B+0.2%	$23.2B-7.6%	$23.5B-10.9%	$22.2B-23.0%	$23.0B-3.4%	$25.2B+39.4%
Current Liabilities	$9.2B+17.9%	$8.6B+22.5%	$7.1B-9.9%	$7.7B-25.4%	$7.8B-26.7%	$7.0B-18.8%	$7.9B+13.0%	$10.4B+63.5%
Non-Current Liabilities	$14.7B-6.3%	$14.8B-2.9%	$15.9B+5.5%	$15.5B+4.8%	$15.7B-0.1%	$15.2B-24.8%	$15.1B-10.2%	$14.8B+26.4%
Long-Term Debt	$10.3B-9.0%	$10.4B-5.9%	$11.4B+3.1%	$11.3B+9.7%	$11.3B+0.6%	$11.1B-29.2%	$11.0B-22.6%	$10.3B+19.5%
Total Equity	$13.1B-10.6%	$13.5B-2.9%	$13.8B-2.0%	$14.5B-1.3%	$14.7B+6.8%	$13.9B+19.9%	$14.1B+62.3%	$14.7B+79.5%
Retained Earnings	$12.5B+2.0%	$12.4B+4.5%	$12.2B+6.2%	$12.5B+34.7%	$12.3B+38.9%	$11.9B+73.4%	$11.5B+74.2%	$9.3B+43.4%

Not reported in any period shown, so not listed: Accounts Receivable.

CARR Cash Flow Statement

CARR quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY228-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K
Operating Cash Flow	$2.4B	$2.5B+346.4%	$563.0M-78.4%	$2.6B+49.6%	$1.7B-22.1%	$2.2B+32.2%	$1.7B-18.0%	$2.1B+0.4%	$2.1B
Depreciation & Amortization	N/A	$1.3B+3.4%	$1.2B+150.9%	$491.0M+49.7%	$328.0M-3.0%	$338.0M+0.6%	$336.0M+0.3%	$335.0M-6.2%	$357.0M
Stock-Based Compensation	N/A	$74.0M-24.5%	$98.0M+21.0%	$81.0M+5.2%	$77.0M-16.3%	$92.0M+19.5%	$77.0M+48.1%	$52.0M+18.2%	$44.0M
Capital Expenditures	$459.0M	$392.0M-24.5%	$519.0M+18.2%	$439.0M+38.5%	$317.0M-7.8%	$344.0M+10.3%	$312.0M+28.4%	$243.0M-7.6%	$263.0M
Free Cash Flow	$1.9B	$2.1B+4720.5%	$44.0M-98.0%	$2.2B+52.0%	$1.4B-24.7%	$1.9B+37.2%	$1.4B-24.2%	$1.8B+1.6%	$1.8B
Investing Cash Flow	-$464.0M	-$307.0Mn/m	-$2.0Bn/m	-$660.0M-137.8%	$1.7Bn/m	-$692.0M-162.6%	$1.1Bn/m	-$259.0M-162.4%	$415.0M
Financing Cash Flow	-$2.3B	-$4.7Bn/m	-$4.6B-200.5%	$4.6Bn/m	-$2.9Bn/m	-$1.6Bn/m	-$681.0Mn/m	-$2.0Bn/m	-$2.6B
Dividends Paid	$782.0M	$772.0M+15.2%	$670.0M+8.1%	$620.0M+21.8%	$509.0M+22.1%	$417.0M+202.2%	$138.0Mn/m	$0n/m	$0
Share Buybacks	$2.0B	$2.9B+48.8%	$1.9B+3035.5%	$62.0M-95.5%	$1.4B+161.9%	$527.0Mn/m	$0n/m	$0	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'248-K	Q3'2410-Q
Operating Cash Flow	$927.0M+42.8%	$79.0M-83.6%	$1.0B+687.9%	$341.0Mn/m	$649.0M-1.7%	$483.0M+1107.5%	$132.0M-87.6%	-$269.0M-125.8%
Depreciation & Amortization	$629.0M+98.4%	$315.0M+4.0%	$329.0M	$325.0M+4.2%	$317.0M+7.8%	$303.0M-1.6%	N/A	$312.0M+228.4%
Stock-Based Compensation	$12.0M-42.9%	$21.0M-8.7%	N/A	$11.0M-60.7%	$21.0M-19.2%	$23.0M+4.5%	N/A	$28.0M+21.7%
Capital Expenditures	$117.0M+44.4%	$94.0M+49.2%	$131.0M-39.6%	$117.0M+27.2%	$81.0M-25.0%	$63.0M-38.2%	$217.0M-2.3%	$92.0M+26.0%
Free Cash Flow	$810.0M+42.6%	-$15.0M-103.6%	$909.0Mn/m	$224.0Mn/m	$568.0M+2.9%	$420.0Mn/m	-$85.0M-110.1%	-$361.0M-137.3%
Investing Cash Flow	-$170.0Mn/m	-$65.0Mn/m	-$110.0M-103.6%	-$119.0M-110.3%	-$55.0M-101.1%	-$23.0Mn/m	$3.1Bn/m	$1.2Bn/m
Financing Cash Flow	-$760.0Mn/m	-$141.0Mn/m	-$787.0Mn/m	-$591.0Mn/m	-$547.0Mn/m	-$2.7B-215.5%	-$1.7B-131.8%	-$1.5Bn/m
Dividends Paid	$199.0M+3.6%	$201.0M+1.5%	$189.0M+21.2%	$193.0M+4.9%	$192.0M+12.3%	$198.0M+24.5%	$156.0M+0.6%	$184.0M+17.9%
Share Buybacks	$439.0M+29.1%	$306.0M-76.2%	$479.0M-68.3%	$785.0M+82.1%	$340.0Mn/m	$1.3Bn/m	$1.5Bn/m	$431.0Mn/m

CARR Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CARR quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY228-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K
Gross Margin	N/A	26.6%-0.6pp	27.2%+2.4pp	24.9%	N/A	N/A	N/A	N/A
Operating Margin	10.0%-1.8pp	11.8%+0.4pp	11.4%-11.6pp	23.0%+10.2pp	12.8%-4.8pp	17.7%+4.3pp	13.4%-5.8pp	19.2%
Net Margin	6.8%-18.1pp	24.9%+17.8pp	7.1%-13.3pp	20.4%+12.4pp	8.1%-3.3pp	11.3%0.0pp	11.4%-3.1pp	14.4%
Return on Equity	10.8%-29.1pp	39.8%+24.3pp	15.6%-30.0pp	45.6%+21.0pp	24.6%-7.1pp	31.7%+16.7pp	15.0%	N/A
Return on Assets	4.0%-11.0pp	15.0%+10.9pp	4.1%-9.4pp	13.6%+7.2pp	6.4%-1.5pp	7.9%-1.5pp	9.4%	N/A
Current Ratio	1.20-0.1x	1.25-1.6x	2.80+1.2x	1.64-0.1x	1.72+0.1x	1.67+0.3x	1.33	N/A
Debt-to-Equity	0.820.0x	0.78-0.9x	1.64+0.5x	1.12-0.3x	1.41-0.2x	1.61+1.6x	0.01	N/A
Liabilities-to-Equity	1.670.0x	1.63-1.1x	2.74+0.4x	2.32-0.5x	2.82-0.1x	2.96+2.4x	0.57	N/A
Asset Turnover	0.580.0x	0.600.0x	0.58-0.1x	0.66-0.1x	0.79+0.1x	0.70-0.1x	0.83	N/A
FCF Margin	9.8%+9.6pp	0.2%-11.2pp	11.4%+3.2pp	8.3%-0.9pp	9.2%+1.3pp	7.9%-1.9pp	9.8%+0.3pp	9.5%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'248-K	Q3'2410-Q
Operating Margin	13.0%-1.8pp	4.9%-7.2pp	2.1%-12.9pp	9.7%-3.1pp	14.8%+2.6pp	12.0%+5.0pp	15.0%+2.5pp	12.8%+2.4pp
Net Margin	7.9%-1.8pp	4.5%-3.4pp	1.1%	7.7%+0.2pp	9.7%-29.7pp	7.9%+2.9pp	N/A	7.5%+0.2pp
Return on Equity	3.8%-0.2pp	1.8%-1.2pp	0.4%	2.9%-0.1pp	4.0%-13.0pp	3.0%+0.6pp	N/A	3.0%-1.3pp
Return on Assets	1.3%-0.2pp	0.6%-0.5pp	0.1%	1.1%0.0pp	1.5%-4.2pp	1.1%+0.5pp	N/A	1.1%-0.2pp
Current Ratio	1.02-0.1x	1.05-0.2x	1.20-0.1x	1.14+0.1x	1.17+0.1x	1.20-0.2x	1.25-1.6x	1.08-0.6x
Debt-to-Equity	0.780.0x	0.770.0x	0.820.0x	0.78+0.1x	0.770.0x	0.80-0.6x	0.78-0.9x	0.70-0.4x
Liabilities-to-Equity	1.82+0.2x	1.74+0.1x	1.670.0x	1.60-0.1x	1.60-0.3x	1.61-0.9x	1.63-1.1x	1.71-0.5x
Asset Turnover	0.170.0x	0.140.0x	0.130.0x	0.150.0x	0.160.0x	0.140.0x	0.140.0x	0.150.0x
FCF Margin	12.8%+3.5pp	-0.3%-8.3pp	18.8%+20.4pp	4.0%+10.1pp	9.3%0.0pp	8.1%+9.2pp	-1.7%-21.1pp	-6.0%-25.6pp

Not reported in any period shown, so not listed: Gross Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Carrier Global Corporation CARR	FY2025	$21.7B	$1.5B	6.8%	$46.5B	48/100
Johnson Controls International plc JCI	FY2025	$23.6B	$3.3B	14.0%	$89.3B	49/100
Trane Technologies plc TT	FY2025	$21.3B	$2.9B	13.7%	$100.1B	67/100
Lennox International Inc. LII	FY2025	$5.2B	$805.8M	15.5%	$12.6B	63/100
Carlisle Companies, Inc. CSL	FY2025	$5.0B	$740.7M	14.8%	$13.7B	70/100
Builders FirstSource, Inc. BLDR	FY2025	$15.2B	$435.2M	2.9%	$6.0B	47/100

Where Carrier Global Corporation Ranks

Frequently Asked Questions

What is Carrier Global Corporation's annual revenue?

Carrier Global Corporation (CARR) reported $21.7B in total revenue for fiscal year 2025. This represents a -3.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Carrier Global Corporation's revenue growing?

Carrier Global Corporation (CARR) revenue declined by 3.3% year-over-year, from $22.5B to $21.7B in fiscal year 2025.

Is Carrier Global Corporation profitable?

Yes, Carrier Global Corporation (CARR) reported a net income of $1.2B over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $1.5B, with a net profit margin of 6.8%.

What is Carrier Global Corporation's EBITDA?

Carrier Global Corporation (CARR) had EBITDA of $3.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Carrier Global Corporation have?

As of fiscal year 2025, Carrier Global Corporation (CARR) had $1.6B in cash and equivalents against $11.4B in long-term debt.

What is Carrier Global Corporation's operating margin?

Carrier Global Corporation (CARR) had an operating margin of 10.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Carrier Global Corporation's net profit margin?

Carrier Global Corporation (CARR) had a net profit margin of 6.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Carrier Global Corporation pay dividends?

Yes, Carrier Global Corporation (CARR) paid $0.68 per share in dividends during fiscal year 2025.

What is Carrier Global Corporation's return on equity (ROE)?

Carrier Global Corporation (CARR) has a return on equity of 10.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Carrier Global Corporation's free cash flow?

Carrier Global Corporation (CARR) generated $2.1B in free cash flow during fiscal year 2025. This represents a 4720.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Carrier Global Corporation's operating cash flow?

Carrier Global Corporation (CARR) generated $2.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Carrier Global Corporation's total assets?

Carrier Global Corporation (CARR) had $37.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Carrier Global Corporation's capital expenditures?

Carrier Global Corporation (CARR) invested $392.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Carrier Global Corporation spend on research and development?

Carrier Global Corporation (CARR) invested $625.0M in research and development during fiscal year 2025.

Does Carrier Global Corporation buy back shares?

Yes, Carrier Global Corporation (CARR) spent $2.9B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Carrier Global Corporation have outstanding?

Carrier Global Corporation (CARR) had 836M shares outstanding as of fiscal year 2025.

What is Carrier Global Corporation's current ratio?

Carrier Global Corporation (CARR) had a current ratio of 1.20 as of fiscal year 2025, which is considered adequate.

What is Carrier Global Corporation's debt-to-equity ratio?

Carrier Global Corporation (CARR) had a debt-to-equity ratio of 0.82 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

What is Carrier Global Corporation's liabilities-to-equity ratio?

Carrier Global Corporation (CARR) had a liabilities-to-equity ratio of 1.67 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.

What is Carrier Global Corporation's return on assets (ROA)?

Carrier Global Corporation (CARR) had a return on assets of 4.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Carrier Global Corporation's P/E ratio?

Carrier Global Corporation (CARR) trades at 38.1x earnings, its market capitalization divided by $1.2B net income, trailing 12 months to June 30, 2026. The market capitalization is $46.5B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Carrier Global Corporation's price-to-sales ratio?

Carrier Global Corporation (CARR) trades at 2.1x sales, its market capitalization divided by $22.1B revenue, trailing 12 months to June 30, 2026. The market capitalization is $46.5B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Carrier Global Corporation's Altman Z-Score?

Carrier Global Corporation (CARR) has an Altman Z-Score of 2.49, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Carrier Global Corporation's Piotroski F-Score?

Carrier Global Corporation (CARR) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Carrier Global Corporation's earnings high quality?

Carrier Global Corporation (CARR) has an earnings quality ratio of 1.69x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Carrier Global Corporation cover its interest payments?

Carrier Global Corporation (CARR) has an interest coverage ratio of 4.74x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Carrier Global Corporation?

Carrier Global Corporation (CARR) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.