Carrier Global

Industrials Building Products Palm Beach Gardens, Florida Last filing Feb 5, 2026 · FY2025

                    Revenue
                    FY2025
                
$21.7B
                    3y CAGR +7.9%
                    
                    P69
                    
                    n/a
                    
                    Net income
                    FY2025
                
$1.5B
                    Net margin +6.8%
                    
                    P20
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$37.2B
                    ROA +4.0%
                    
                    P14
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$2.5B
                    FCF margin +9.8%
                    
                    P32
                    
                    n/a

8 yrs · FY2018–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

34 accounts · 1 year

Total assets $37.2B

Total liabilities $23.1B

Shareholders equity $14.1B

Account	2025	Trend
Assets
Cash and Cash Equivalents	7.2%
Accounts Receivable	12.1%
Inventory	11.4%
Prepaid Expenses	5.8%
Other Current Assets	5.8%
Total Current Assets	39.2%
Property,Plant and Equipment	14.6%
Operating Lease Assets	2.5%
Goodwill	71.3%
Intangible Assets	29.1%
Long Term Investments	6.1%
Deferred Tax Assets	4.9%
Other Noncurrent Assets	3.1%
Total Assets	171.0%
Liabilities
Accounts Payable	12.4%
Accrued Liabilities	17.4%
Deferred Revenue	3.2%
Current Portion of Long Term Debt	0.5%
Other Current Liabilities	9.8%
Total Current Liabilities	32.7%
Long Term Debt	52.3%
Deferred Revenue Noncurrent	0.9%
Operating Lease Liabilities Noncurrent	1.9%
Deferred Tax Liabilities	8.4%
Other Noncurrent Liabilities	9.8%
Total Liabilities	106.0%
Equity
Common Stock	0.0%
Additional Paid In Capital	39.8%
Retained Earnings	56.1%
Treasury Stock	11.9%
Accumulated Other Comprehensive Income	-1.2%
Noncontrolling Interest	1.5%
Total Stockholders Equity	65.0%
Total Liabilitiesand Equity	171.0%

Income Statement

Revenue, expense, and profitability

19 accounts · 1 year

Revenue $21.7B

Operating income $2.2B

Net income $1.5B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	100.0%
Expenses Cost of Revenue	91.2%
Expenses Research and Development	2.9%
Expenses Selling,General and Administrative	14.2%
Expenses Depreciation and Amortization	5.9%
Expenses Share Based Compensation	0.3%
Expenses Restructuring and Asset Impairment	0.8%
Expenses Operating Expenses	91.2%
Other Income Expense Operating Income	10.0%
Other Income Expense Interest Expense	2.1%
Other Income Expense Other Income/expense	0.2%
Other Income Expense Income Before Tax	8.3%
Income Tax Income Tax Expense	1.1%
net Income net Income	6.8%
net Income Comprehensive Income	15.3%
Earnings Per Share Basic Eps	0.0%
Earnings Per Share Diluted Eps	0.0%
Earnings Per Share Weighted Average Shares Basic	3.9%
Earnings Per Share Weighted Average Shares Diluted	4.0%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 1 year

Operating cash flow $2.5B

Investing cash flow $-307.0M

Financing cash flow $-4.7B

Account	2025	Trend
CashFlow
Operating Activities net Income	6.8%
Operating Activities Depreciation and Amortization	5.9%
Operating Activities Stock Based Compensation	0.3%
Operating Activities Deferred Income Taxes	-1.8%
Operating Activities Changes In Operating Assets and Liabilities	0.4%
Operating Activities net Cash From Operating Activities	11.6%
Investing Activities Capital Expenditures	1.8%
Investing Activities Business Acquisitions	0.5%
Investing Activities Other Investing Activities	-0.1%
Investing Activities net Cash From Investing Activities	-1.4%
Financing Activities Proceeds From Debt	0.2%
Financing Activities Repayment of Debt	5.6%
Financing Activities Repurchase of Common Stock	13.3%
Financing Activities Dividends Paid	3.5%
Financing Activities Other Financing Activities	-0.1%
Financing Activities net Cash From Financing Activities	-21.5%
Cash Reconciliation net Change In Cash	-11.0%
Cash Reconciliation Cash At Beginning of Period	7.2%
Cash Reconciliation Cash At End of Period	7.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+8.8%
Operating margin	+10.0%
Net margin	+6.8%
FCF margin	+9.8%
Growth
Revenue CAGR (3y)	+7.9%
Returns
ROE	+10.5%
ROA	+4.0%
ROIC	+7.8%
Liquidity
Current ratio	1.20x
Quick ratio	0.59x
Leverage
D/E	1.63x
Interest coverage	4.74x
Efficiency
Asset turnover	0.58x
Cash conversion cycle	+40d

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Carrier Global

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