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

Trailing 12 months to March 31, 2026

Revenue $21.9B -1.9% YoY

Net Income $1.3B YoY not available

EPS (Diluted) $1.53 -55.8% YoY

Free Cash Flow $1.7B +220.5% YoY

Market Cap $47.4B as of Sep 11, 2026

Price / Sales 2.2x on $21.9B revenue, trailing 12 months to March 31, 2026

Price / Earnings 36.2x on $1.3B net income, trailing 12 months to March 31, 2026

Price / Book 3.4x on $13.8B equity, Q1 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 Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported Apr 30, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed Apr 30, 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 $21.9B in revenue over the twelve months to Mar 31, 2026, down 1.9% 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 2026-08-29

Carrier’s dominant mechanic is volatile earnings quality: cash generation recovered sharply in FY2025 while distributions continued to exceed free cash flow.

In FY2024, net income reached $5.6B while operating cash flow was only $563M, making reported profit a poor guide to cash available that year. In FY2025, net income normalized to $1.5B but operating cash flow rebounded to $2.5B, indicating the prior earnings-to-cash gap was episodic rather than the current operating pattern.

Total liabilities were roughly $23B in both FY2024 and FY2025, while the current ratio fell from 1.3x to 1.2x. That combination points to a thinner short-term liquidity cushion, even as debt-to-equity remained near 0.8x in FY2025.

FY2025 free cash flow was $2.1B, yet buybacks and dividends totaled $3.7B, meaning shareholder distributions exceeded internally generated cash by about $1.5B. The mismatch reflects capital returns, not unusually heavy reported reinvestment.

Financial Health Signals

Financial Health Score 49/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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 68/100, 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 0.80), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 23/100, reflecting increased financial risk.

Liquidity

Carrier Global Corporation's current ratio of 1.20 is below the typical benchmark, resulting in a score of 28/100. 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 10.5% shows moderate profitability relative to equity, earning a score of 60/100. This is down from 38.9% the prior year.

Altman Z-Score Grey Zone

2.51

Carrier Global Corporation scores 2.51, placing it in the grey zone between 1.81 and 2.99. 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, neither operating efficiency signal passes.

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

$5.3B

YoY+2.4%

QoQ+10.4%

5Y CAGR+2.6%

Carrier Global Corporation generated $5.3B in revenue in Q1 2026. This represents an increase of 2.4% from the same quarter a year earlier. Against the prior quarter it is up 10.4%.

EBITDA

$574.0M

YoY-38.4%

QoQ+33.5%

Carrier Global Corporation's EBITDA was $574.0M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 38.4% from the same quarter a year earlier. Against the prior quarter it is up 33.5%.

Net Income

$238.0M

YoY-42.2%

QoQ+349.1%

Carrier Global Corporation reported $238.0M in net income in Q1 2026. This represents a decrease of 42.2% from the same quarter a year earlier. Against the prior quarter it is up 349.1%.

EPS (Diluted)

$0.28

YoY-40.4%

QoQ+300.0%

5Y CAGR-8.2%

Carrier Global Corporation earned $0.28 per diluted share (EPS) in Q1 2026. This represents a decrease of 40.4% from the same quarter a year earlier. Against the prior quarter it is up 300.0%.

Cash & Balance Sheet

Free Cash Flow

-$15.0M

YoY-103.6%

QoQ-101.7%

Carrier Global Corporation recorded an outflow of $15.0M in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents a decrease of 103.6% from the same quarter a year earlier. Against the prior quarter it is down 101.7%.

Cash & Debt

$1.4B

YoY-19.3%

QoQ-11.8%

5Y CAGR-12.0%

Carrier Global Corporation held $1.4B in cash against $10.4B in long-term debt as of Q1 2026.

Shares Outstanding

831M

YoY-3.1%

QoQ-0.6%

5Y CAGR-0.9%

Carrier Global Corporation had 831M shares outstanding in Q1 2026. This represents a decrease of 3.1% from the same quarter a year earlier. Against the prior quarter it is down 0.6%.

Dividends Per Share

Not reported for Q1 2026.

Margins & Returns

Operating Margin

4.9%

YoY-7.2pp

QoQ+2.8pp

5Y change-7.3pp

Carrier Global Corporation's operating margin was 4.9% in Q1 2026, reflecting core business profitability. This is down 7.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.8 percentage points.

Net Margin

4.5%

YoY-3.4pp

QoQ+3.4pp

Carrier Global Corporation's net profit margin was 4.5% in Q1 2026, showing the share of revenue converted to profit. This is down 3.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.4 percentage points.

Return on Equity

1.7%

YoY-1.2pp

QoQ+1.3pp

Carrier Global Corporation's ROE was 1.7% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 1.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.3 percentage points.

Gross Margin

Not reported for Q1 2026.

Capital Allocation

R&D Spending

$143.0M

YoY-6.5%

QoQ-10.6%

Carrier Global Corporation invested $143.0M in research and development in Q1 2026. This represents a decrease of 6.5% from the same quarter a year earlier. Against the prior quarter it is down 10.6%.

Share Buybacks

$306.0M

YoY-76.2%

QoQ-36.1%

5Y CAGR+53.4%

Carrier Global Corporation spent $306.0M on share buybacks in Q1 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 76.2% from the same quarter a year earlier. Against the prior quarter it is down 36.1%.

Capital Expenditures

$94.0M

YoY+49.2%

QoQ-28.2%

5Y CAGR+12.1%

Carrier Global Corporation invested $94.0M in capex in Q1 2026, funding long-term assets and infrastructure. This represents an increase of 49.2% from the same quarter a year earlier. Against the prior quarter it is down 28.2%.

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	$21.9B	$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	$615.0M	$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	$1.8B	$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	$466.0M	$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	$33.0M	$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	$1.3B	$1.5B-73.5%	$5.6B+315.4%	$1.3B-61.8%	$3.5B+107.8%	$1.7B-15.2%	$2.0B-6.9%	$2.2B-22.2%	$2.8B
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)	$1.53	$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	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'248-K	Q3'2410-Q	Q2'248-K
Revenue	$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%	$5.9B+14.5%
R&D Expenses	$143.0M-6.5%	$160.0M	$151.0M-12.2%	$161.0M+0.6%	$153.0M-20.3%	N/A	$172.0M+36.5%	$160.0M+6.0%
SG&A Expenses	$861.0M+18.1%	$747.0M	$803.0M+0.5%	$813.0M+3.0%	$729.0M-9.7%	N/A	$799.0M+20.3%	$789.0M+0.6%
Operating Income	$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%	$724.0M+11.2%
EBITDA	$574.0M-38.4%	$430.0M	$864.0M-19.6%	$1.2B+19.8%	$932.0M+34.5%	N/A	$1.1B+77.7%	$1.0B+29.2%
Interest Expense	$90.0M+9.8%	$188.0M	$97.0M	$91.0M-42.0%	$82.0M-41.8%	N/A	N/A	$157.0M+134.3%
Income Tax	-$96.0M-186.5%	-$32.0M	-$1.0M-100.6%	$162.0M+35.0%	$111.0M+136.2%	N/A	$172.0M-2.8%	$120.0M-36.5%
Net Income	$238.0M-42.2%	$53.0M	$428.0M-4.3%	$591.0M-74.7%	$412.0M+53.2%	N/A	$447.0M+25.2%	$2.3B+903.0%
EPS (Basic)	$0.29-38.3%	$0.07+240.0%	$0.500.0%	$0.69-73.4%	$0.47+56.7%	-$0.05-110.0%	$0.50+16.3%	$2.59+979.2%
EPS (Diluted)	$0.28-40.4%	$0.07+240.0%	$0.50+2.0%	$0.68-73.3%	$0.47+62.1%	-$0.05-110.2%	$0.49+16.7%	$2.55+1008.7%
Diluted Shares (Avg)	843M-4.0%	N/A	859M-6.2%	866M-5.4%	878M-3.8%	N/A	915M+7.1%	915M+7.6%

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	$0	$0	$0	$0	$0	$0	$0	$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	$0	$0	$0	$0	$0	$0	$0	$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	$14.1B-1.9%	$14.4B+59.9%	$9.0B+11.5%	$8.1B+13.8%	$7.1B+7.8%	$6.6B-53.4%	$14.1B-1.2%	$14.3B
Retained Earnings	$12.2B+6.2%	$11.5B+74.2%	$6.6B+12.4%	$5.9B+104.7%	$2.9B+74.4%	$1.6B	$0	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'248-K	Q3'2410-Q	Q2'248-K
Total Assets	$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%	$40.4B+53.8%
Current Assets	$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%	$11.6B+14.1%
Cash & Equivalents	$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%	$2.8B-14.1%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$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%	$3.0B+12.8%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$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%	$15.2B+53.6%
Total Liabilities	$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%	$26.3B+46.4%
Current Liabilities	$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%	$10.7B+71.2%
Non-Current Liabilities	$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%	$15.7B+33.2%
Long-Term Debt	$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%	$11.3B+30.2%
Total Equity	$13.8B-2.8%	$14.1B-1.9%	$14.8B-1.3%	$15.0B+6.6%	$14.2B+19.3%	$14.4B+59.9%	$15.0B+76.9%	$14.1B+69.9%
Retained Earnings	$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%	$8.9B+44.5%

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	$2.1B	$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	$423.0M	$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	$1.7B	$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	-$349.0M	-$307.0M+84.8%	-$2.0B-206.8%	-$660.0M-137.8%	$1.7B+352.2%	-$692.0M-162.6%	$1.1B+527.0%	-$259.0M-162.4%	$415.0M
Financing Cash Flow	-$2.1B	-$4.7B-0.8%	-$4.6B-200.5%	$4.6B+257.4%	-$2.9B-87.6%	-$1.6B-129.4%	-$681.0M+65.6%	-$2.0B+24.6%	-$2.6B
Dividends Paid	$775.0M	$772.0M+15.2%	$670.0M+8.1%	$620.0M+21.8%	$509.0M+22.1%	$417.0M+202.2%	$138.0M	$0	$0
Share Buybacks	$1.9B	$2.9B+48.8%	$1.9B+3035.5%	$62.0M-95.5%	$1.4B+161.9%	$527.0M	$0	$0	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'248-K	Q3'2410-Q	Q2'248-K
Operating Cash Flow	$79.0M-83.6%	$1.0B+687.9%	$341.0M+226.8%	$649.0M-1.7%	$483.0M+1107.5%	$132.0M-87.6%	-$269.0M-125.8%	$660.0M+71.9%
Depreciation & Amortization	$315.0M+4.0%	$329.0M	$325.0M+4.2%	$317.0M+7.8%	$303.0M-1.6%	N/A	$312.0M+228.4%	$294.0M+114.6%
Stock-Based Compensation	$21.0M-8.7%	N/A	$11.0M-60.7%	$21.0M-19.2%	$23.0M+4.5%	N/A	$28.0M+21.7%	$26.0M+44.4%
Capital Expenditures	$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%	$108.0M+45.9%
Free Cash Flow	-$15.0M-103.6%	$909.0M+1169.4%	$224.0M+162.0%	$568.0M+2.9%	$420.0M+777.4%	-$85.0M-110.1%	-$361.0M-137.3%	$552.0M+78.1%
Investing Cash Flow	-$65.0M-182.6%	-$110.0M-103.6%	-$119.0M-110.3%	-$55.0M-101.1%	-$23.0M+99.8%	$3.1B+1448.9%	$1.2B+958.5%	$4.8B+2553.1%
Financing Cash Flow	-$141.0M+94.9%	-$787.0M+53.3%	-$591.0M+61.7%	-$547.0M+85.5%	-$2.7B-215.5%	-$1.7B-131.8%	-$1.5B-748.4%	-$3.8B-1191.8%
Dividends Paid	$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%	$171.0M+10.3%
Share Buybacks	$306.0M-76.2%	$479.0M-68.3%	$785.0M+82.1%	$340.0M	$1.3B	$1.5B	$431.0M	$0

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%+12.2pp	8.3%-3.2pp	11.5%-0.1pp	11.6%-3.1pp	14.6%
Return on Equity	10.5%-28.4pp	38.9%+23.9pp	15.0%-28.8pp	43.8%+19.8pp	24.0%-6.5pp	30.5%+15.2pp	15.3%-4.1pp	19.4%
Return on Assets	4.0%-11.0pp	15.0%+10.9pp	4.1%-9.4pp	13.6%+7.1pp	6.5%-1.5pp	8.0%-1.6pp	9.6%	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	0.800.0x	0.77-0.8x	1.58+0.5x	1.08-0.3x	1.34-0.2x	1.53+1.5x	0.01	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	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'248-K	Q3'2410-Q	Q2'248-K
Operating Margin	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	12.2%-0.4pp
Net Margin	4.5%-3.4pp	1.1%	7.7%+0.2pp	9.7%-29.7pp	7.9%+2.9pp	N/A	7.5%+0.2pp	39.4%+34.9pp
Return on Equity	1.7%-1.2pp	0.4%	2.9%-0.1pp	3.9%-12.7pp	2.9%+0.6pp	N/A	3.0%-1.2pp	16.6%+13.8pp
Return on Assets	0.6%-0.5pp	0.1%	1.1%0.0pp	1.5%-4.2pp	1.1%+0.5pp	N/A	1.1%-0.2pp	5.8%+4.9pp
Current Ratio	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	1.08-0.5x
Debt-to-Equity	0.760.0x	0.800.0x	0.76+0.1x	0.760.0x	0.78-0.5x	0.77-0.8x	0.69-0.3x	0.80-0.2x
Asset Turnover	0.140.0x	0.130.0x	0.150.0x	0.160.0x	0.140.0x	0.140.0x	0.150.0x	0.15-0.1x
FCF Margin	-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	9.3%+3.3pp

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%	$47.4B	49/100
Johnson Controls International JCI	FY2025	$23.6B	$3.3B	14.0%	$86.5B	28/100
Trane Technologies Plc TT	FY2025	$21.3B	$2.9B	13.7%	$96.8B	68/100
Lennox International LII	FY2025	$5.2B	$805.8M	15.5%	$12.9B	63/100
Carlisle CSL	FY2025	$5.0B	$740.7M	14.8%	$13.1B	71/100
Builders Firstsource Inc BLDR	FY2025	$15.2B	$435.2M	2.9%	$6.3B	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 $1.5B in fiscal year 2025, 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 10.5% 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 0.80 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder 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 36.2x earnings, its market capitalization divided by net income of $1.3B net income, trailing 12 months to March 31, 2026. The market capitalization is $47.4B as of Sep 11, 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 2.2x sales, its market capitalization divided by revenue of $21.9B revenue, trailing 12 months to March 31, 2026. The market capitalization is $47.4B as of Sep 11, 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 2.51, 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 49 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite 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.