Carrier Global

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

                    Revenue
                    FY2025
                
$21.7B
                    3y CAGR +7.9%
                    
                    P69
                    
                    -3.3%
                    
                    Net income
                    FY2025
                
$1.5B
                    Net margin +6.8%
                    
                    P20
                    
                    -73.5%
                    
                    Total assets
                    FY2025
                
$37.2B
                    ROA +4.0%
                    
                    P14
                    
                    -0.6%
                    
                    Operating cash flow
                    FY2025
                
$2.5B
                    FCF margin +9.8%
                    
                    P32
                    
                    +346.4%

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 · 3 years

Total assets $37.2B

Total liabilities $23.1B

Shareholders equity $14.1B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	7.2%	17.7%	52.0%
Accounts Receivable	12.1%	11.8%	11.0%
Inventory	11.4%	10.2%	9.6%
Prepaid Expenses	5.8%	4.3%	3.8%
Other Current Assets	5.8%	4.3%	3.8%
Total Current Assets	39.2%	44.0%	103.3%
Property,Plant and Equipment	14.6%	13.3%	11.4%
Operating Lease Assets	2.5%	2.5%	2.2%
Goodwill	71.3%	64.9%	39.7%
Intangible Assets	29.1%	28.6%	5.0%
Long Term Investments	6.1%	5.3%	6.0%
Deferred Tax Assets	4.9%	5.0%	3.8%
Other Noncurrent Assets	3.1%	2.5%	1.6%
Total Assets	171.0%	166.3%	173.2%
Liabilities
Accounts Payable	12.4%	10.9%	13.1%
Accrued Liabilities	17.4%	18.6%	15.8%
Deferred Revenue	3.2%	2.5%	2.2%
Current Portion of Long Term Debt	0.5%	5.6%	0.3%
Other Current Liabilities	9.8%	6.4%	8.4%
Total Current Liabilities	32.7%	35.1%	36.8%
Long Term Debt	52.3%	49.8%	0.6%
Deferred Revenue Noncurrent	0.9%	0.7%	0.8%
Operating Lease Liabilities Noncurrent	1.9%	1.9%	1.8%
Deferred Tax Liabilities	8.4%	9.0%	2.8%
Other Noncurrent Liabilities	9.8%	6.4%	8.4%
Total Liabilities	106.0%	102.3%	125.7%
Equity
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	39.8%	38.3%	29.2%
Retained Earnings	56.1%	51.1%	34.8%
Treasury Stock	11.9%	8.6%	0.3%
Accumulated Other Comprehensive Income	-1.2%	-9.4%	-7.8%
Noncontrolling Interest	1.5%	1.4%	1.7%
Total Stockholders Equity	65.0%	64.0%	47.5%
Total Liabilitiesand Equity	171.0%	166.3%	173.2%

Income Statement

Revenue, expense, and profitability

19 accounts · 3 years

Revenue $21.7B

Operating income $2.2B

Net income $1.5B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%
Expenses Cost of Revenue	91.2%	73.4%	72.8%
Expenses Research and Development	2.9%	3.1%	2.6%
Expenses Selling,General and Administrative	14.2%	14.2%	13.8%
Expenses Depreciation and Amortization	5.9%	5.5%	2.6%
Expenses Share Based Compensation	0.3%	0.4%	0.4%
Expenses Restructuring and Asset Impairment	0.8%	0.5%	0.4%
Expenses Operating Expenses	91.2%	90.7%	89.1%
Other Income Expense Operating Income	10.0%	11.8%	11.4%
Other Income Expense Interest Expense	2.1%	2.6%	1.6%
Other Income Expense Other Income/expense	0.2%	1.4%	-0.6%
Other Income Expense Income Before Tax	8.3%	10.1%	10.5%
Income Tax Income Tax Expense	1.1%	4.7%	2.7%
net Income net Income	6.8%	24.9%	7.1%
net Income Comprehensive Income	15.3%	22.2%	8.2%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	3.9%	4.0%	4.4%
Earnings Per Share Weighted Average Shares Diluted	4.0%	4.1%	4.5%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 3 years

Operating cash flow $2.5B

Investing cash flow $-307.0M

Financing cash flow $-4.7B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	6.8%	24.9%	7.1%
Operating Activities Depreciation and Amortization	5.9%	5.5%	2.6%
Operating Activities Stock Based Compensation	0.3%	0.4%	0.4%
Operating Activities Deferred Income Taxes	-1.8%	-1.6%	-1.3%
Operating Activities Changes In Operating Assets and Liabilities	0.4%	-1.3%	-0.3%
Operating Activities net Cash From Operating Activities	11.6%	2.5%	13.8%
Investing Activities Capital Expenditures	1.8%	2.3%	2.3%
Investing Activities Business Acquisitions	0.5%	48.4%	0.4%
Investing Activities Other Investing Activities	-0.1%	-0.1%	-0.1%
Investing Activities net Cash From Investing Activities	-1.4%	-9.0%	-3.5%
Financing Activities Proceeds From Debt	0.2%	15.2%	29.6%
Financing Activities Repayment of Debt	5.6%	23.8%	0.6%
Financing Activities Repurchase of Common Stock	13.3%	8.6%	0.3%
Financing Activities Dividends Paid	3.5%	3.0%	3.3%
Financing Activities Other Financing Activities	-0.1%	-0.1%	-0.6%
Financing Activities net Cash From Financing Activities	-21.5%	-20.6%	24.3%
Cash Reconciliation net Change In Cash	-11.0%	-27.6%	35.1%
Cash Reconciliation Cash At Beginning of Period	7.2%	17.7%	52.0%
Cash Reconciliation Cash At End of Period	7.2%	17.7%	52.0%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+8.8%	+26.6%	+27.2%
Operating margin	+10.0%	+11.8%	+11.4%
Net margin	+6.8%	+24.9%	+7.1%
FCF margin	+9.8%	+0.2%	+11.4%
Growth
Revenue CAGR (3y)	+7.9%	+2.9%	+2.8%
Returns
ROE	+10.5%	+38.9%	+15.0%
ROA	+4.0%	+15.0%	+4.1%
ROIC	+7.8%	+6.2%	-233.1%
Liquidity
Current ratio	1.20x	1.25x	2.80x
Quick ratio	0.59x	0.84x	1.71x
Leverage
D/E	1.63x	1.60x	2.64x
Interest coverage	4.74x	4.56x	7.06x
Efficiency
Asset turnover	0.58x	0.60x	0.58x
Cash conversion cycle	+40d	+40d	+23d

Valuation

Price against fundamentals

FY2025 fundamentals · no price

No price data cached, so there is nothing to multiply. Load prices from the Stock Data tab and this panel reprices itself.

Notes

Your annotations

Not watched

Carrier Global

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

Your annotations

One-year price and volume history

Price data unavailable

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

Your annotations

One-year price and volume history

Price data unavailable

Recent price history