Carrier Global Corp (CARR)

Carrier Global Corporation provides intelligent climate and energy solutions in the United States, Europe, the Asia Pacific, and internationally. It operates through four segments: Climate Solutions Americas; Climate Solutions Europe; Climate Solutions Asia Pacific, Middle East & Africa; and Climate Solutions Transportation. The company provides air conditioners, heating systems, heat pumps, home and building energy management systems, automation systems, aftermarket components, and repair and maintenance and rental services, as well as modernization and upgrades to meet the heating, cooling, and ventilation needs of residential and commercial customers. It also offers transport refrigeration and monitoring products, services, and digital solutions for trucks, trailers, shipping containers, and intermodal and rail applications. The company offers its products under the Carrier, Viessmann, Toshiba, Automated Logic, Bryant, CIAT, Day & Night, Heil, NORESCO, Carrier Transicold, and Sensitech brands. The company was incorporated in 2019 and is headquartered in Palm Beach Gardens, Florida.

Symbol: CARR
Exchange: NYSE
Sector: Industrials
Industry: Building Products & Equipment
Market cap: $46.03B
52 week range: 50.24 - 76.76

Valuation

Share price: $55.12 (close of 2026-10-02)
P/E (TTM): 35.33x
Price to book: 3.33x
Price to free cash flow: 27.30x
Enterprise value: $57.23B
Book value per share: $16.53

Price performance

Period	Change
1 day	-0.18%
5 days	-2.22%
1 month	-4.27%
3 months	-21.34%
6 months	-1.06%
Year to date	+4.31%
1 year	-6.42%
3 years	+1.03%
5 years	+5.07%
All time	+359.33%

Members of Congress who disclosed CARR trades

Julie Johnson · Jared Moskowitz · Maria Elvira Salazar · Lisa McClain · Kevin Hern · Rick Larsen · Tommy Tuberville

Super investors holding CARR

Dodge & Cox (Dodge & Cox Funds) · Ken Griffin (Citadel) · Sarah Ketterer (Causeway Capital Management LLC) · Mairs & Power (Mairs & Power Inc)

Profitability and growth

Return on equity: 10.50%
Return on invested capital: 7.78%
Return on assets: 3.99%
Return on capital employed: 7.22%
Gross margin: 27.08%
Net margin: 6.82%
EBITDA margin: 15.85%
Revenue growth: -3.29%
Net income growth: -73.52%
Free cash flow growth: 4720.45%

Cash flow and balance sheet

Free cash flow yield (TTM): 3.66%
Current ratio: 1.05x
Net debt to EBITDA: 3.54x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $21.75B
Cost of revenue: $15.86B
Gross profit: $5.89B
EBITDA: $3.45B
Net income: $1.48B
Earnings per share: $1.74
Research and development: $625.00M
Shares outstanding: 852.40M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$21.75B	$5.89B	$1.48B	$1.74
2024-12-31	$22.49B	$5.98B	$5.60B	$6.24
2023-12-31	$18.95B	$5.16B	$1.35B	$1.61
2022-12-31	$17.29B	$4.30B	$3.53B	$4.19
2021-12-31	$20.61B	$6.27B	$1.70B	$1.92
2020-12-31	$17.46B	$6.32B	$2.01B	$2.29
2019-12-31	$18.61B	$5.65B	$2.15B	$2.44
2018-12-31	$18.91B	$6.73B	$2.77B	$3.16

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	27.08%	6.82%	10.50%	7.78%
2024-12-31	26.60%	24.92%	38.93%	6.82%
2023-12-31	27.24%	7.12%	14.98%	11.89%
2022-12-31	24.86%	20.44%	43.76%	23.80%
2021-12-31	30.41%	8.25%	23.98%	39.34%
2020-12-31	36.22%	11.49%	30.50%	15.41%
2019-12-31	30.38%	11.58%	14.93%	13.48%
2018-12-31	35.56%	14.64%	19.41%	19.51%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$1.55B	$11.37B
2024-12-31	$3.97B	$11.03B
2023-12-31	$9.85B	-
2022-12-31	$3.30B	-
2021-12-31	$2.99B	-
2020-12-31	$3.12B	$10.04B
2019-12-31	$952.00M	$82.00M

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$2.12B	$74.00M
2024-12-31	$44.00M	$98.00M
2023-12-31	$2.17B	$81.00M
2022-12-31	$1.43B	$77.00M
2021-12-31	$1.89B	$92.00M
2020-12-31	$1.38B	$77.00M
2019-12-31	$1.82B	$52.00M
2018-12-31	$1.79B	$44.00M

Dividend history

Most recent payment: 2026-07-21
Paid in the last twelve months: $0.94

Payment date	Dividend per share
2026-07-21	$0.24
2026-05-04	$0.24
2026-01-20	$0.24
2025-10-29	$0.23
2025-07-21	$0.23
2025-05-02	$0.23
2024-12-20	$0.23
2024-10-25	$0.19

Investor relations

Next earnings report

Next confirmed report: 2026-10-27
Consensus EPS estimate: $0.81

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-07-28	Jun/2026	$0.83
2026-04-30	Mar/2026	$0.50
2026-02-05	Dec/2025	$0.36
2025-10-28	Sep/2025	$0.55
2025-07-29	Jun/2025	$0.91
2025-07-23	-	-
2025-05-01	Mar/2025	$0.58
2025-04-23	-	-

Filings and sources

Company website: carrier.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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