CARRIER GLOBAL CORPORATION

EDGAR

Annual consolidated revenue for 2025: about USD 21.75B, using the latest reported figures. The previous period, 2024, was about USD 22.49B.

Watchlist

Latest quarter

Revenue

6.26 billion USD

2026 Q3 · USD

Exact inputs and evidence
  • Revenue: 6263000000 USD Source

Operating margin

-36.29%

2026 Q3 · %

Exact inputs and evidence
  • Operating Income: -2273000000 USD Source
  • Revenue: 6263000000 USD Source

Operating cash flow

813 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 1819000000 USD Source
  • Operating Cash Flow: 1006000000 USD Source
Cash and cash equivalents
1.35 billion USD Source
Exact value

1354000000 USD

Long-term debt including current maturities
10.2 billion USD Source
Exact value

10227000000 USD

Shares outstanding
836 million shares Source
Exact value

836141122 shares

Reported share-count change

-4.80% · -42.2 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 878337677 shares · 2024-12-31· Source
  • 836141122 shares · 2025-12-31· Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-29.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 8 of 11 periods available· newest 2025-12-31
  • Operating income: 8 of 11 periods available· newest 2025-12-31
  • Net income: 4 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 8 of 11 periods available· newest 2025-12-31
  • capital expenditure: No compatible figures in this window
  • Total assets: 7 of 11 periods available· newest 2025-12-31
  • Total liabilities: 7 of 11 periods available· newest 2025-12-31
  • Current assets: 7 of 11 periods available· newest 2025-12-31
  • Current liabilities: 7 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 8 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 2 of 11 periods available· newest 2020-12-31
  • Shares outstanding: 6 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    -3.3%

    Prior period

    USD 22.49 billion

    –

    Current period

    USD 21.75 billion

    –

    Exact inputs and evidence

    21747000000 − 22486000000 = -739000000 USD

    22486000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    21747000000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Net income

    -73.5%

    Prior period

    USD 5.6 billion

    –

    Current period

    USD 1.48 billion

    –

    Exact inputs and evidence

    1484000000 − 5604000000 = -4120000000 USD

    5604000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1484000000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    +346.4%

    Prior period

    USD 563 million

    –

    Current period

    USD 2.51 billion

    –

    Exact inputs and evidence

    2513000000 − 563000000 = 1950000000 USD

    563000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    2513000000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Comparable inputs unavailable for: Capital expenditure.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 21.75 billion 100% of revenue
  • Operating costs Derived USD 19.58 billion 90% of revenue
  • Operating income USD 2.17 billion 10% of revenue
  • Tax, interest and other Derived USD 688 million 3.2% of revenue
  • Net income USD 1.48 billion 6.8% of revenue

Cash

  • Operating cash flow USD 2.51 billion 12% of revenue
  • Capital expenditure Unavailable An input is unavailable.
  • Free cash flow Derived Unavailable An input is unavailable.

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2018 Not shown: operating income or net income is not reported.
  • 2019 Not shown: operating income or net income is not reported.
  • 2020 Not shown: operating income or net income is not reported.
  • 2021 Not shown: operating income or net income is not reported.
  • 2022 20%77%
  • 2023 89%
  • 2024 Net income was higher than operating income, so the split is not drawn.
  • 2025 90%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2018 2018-01-01 – 2018-12-3118914000000 15277000000 Derived 3637000000 UnavailableUnavailableUnavailable
Source
2019 2019-01-01 – 2019-12-3118608000000 16117000000 Derived 2491000000 UnavailableUnavailableUnavailable
Source
2020 2020-01-01 – 2020-12-3117456000000 14373000000 Derived 3083000000 UnavailableUnavailableUnavailable
Source
2021 2021-01-01 – 2021-12-3120613000000 17968000000 Derived 2645000000 UnavailableUnavailableUnavailable
Source
2022 2022-01-01 – 2022-12-3117288000000 13304000000 Derived 3984000000 450000000 Derived 3534000000 Unavailable
Source
2023 2023-01-01 – 2023-12-3118951000000 16791000000 Derived 2160000000 811000000 Derived 1349000000 Unavailable
Source
2024 2024-01-01 – 2024-12-3122486000000 19840000000 Derived 2646000000 -2958000000 Derived 5604000000 Unavailable
Source
2025 2025-01-01 – 2025-12-3121747000000 19575000000 Derived 2172000000 688000000 Derived 1484000000 Unavailable
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 21.7B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.24.3B18.2B12.1B6.1B0.0201820222025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Revenue18914000000
2019Revenue18608000000
2020Revenue17456000000
2021Revenue20613000000
2022Revenue17288000000
2023Revenue18951000000
2024Revenue22486000000
2025Revenue21747000000

Revenue growth

Change in revenue from the same financial period one year earlier.

-3.3% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.21%11%1%-9%-19%201820222025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2018Year over yearNo prior comparable period
2019Year over year-1.6%
2020Year over year-6.2%
2021Year over year18.1%
2022Year over year-16.1%
2023Year over year9.6%
2024Year over year18.7%
2025Year over year-3.3%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 10% 2025
Net margin 6.8% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.26.9%20.2%13.5%6.7%0.0%201820222025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2018Operating margin19.2%
2019Operating margin13.4%
2020Operating margin17.7%
2021Operating margin12.8%
2022Operating margin23%
2023Operating margin11.4%
2024Operating margin11.8%
2025Operating margin10%
2018-12-31Net marginNot reported
2019-12-31Net marginNot reported
2020-12-31Net marginNot reported
2021-12-31Net marginNot reported
2022Net margin20.4%
2023Net margin7.1%
2024Net margin24.9%
2025Net margin6.8%
2018Free cash flow marginNot reported
2019Free cash flow marginNot reported
2020Free cash flow marginNot reported
2021Free cash flow marginNot reported
2022Free cash flow marginNot reported
2023Free cash flow marginNot reported
2024Free cash flow marginNot reported
2025Free cash flow marginNot reported

Operating cash flow

Cash generated by the company’s normal business operations.

USD 2.5B 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.8B2.1B1.4B703.9M0.0201820222025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Operating cash flow2055000000
2019Operating cash flow2063000000
2020Operating cash flow1692000000
2021Operating cash flow2237000000
2022Operating cash flow1743000000
2023Operating cash flow2607000000
2024Operating cash flow563000000
2025Operating cash flow2513000000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

Not enough comparable data to show this history.
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Free cash flowUnavailable
2019Free cash flowUnavailable
2020Free cash flowUnavailable
2021Free cash flowUnavailable
2022Free cash flowUnavailable
2023Free cash flowUnavailable
2024Free cash flowUnavailable
2025Free cash flowUnavailable

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

62% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.80%60%40%20%0%2018-12-3120222025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2018-12-31Liabilities / assetsNot reportedNo source recorded
2019Liabilities / assets35.6%
2020Liabilities / assets73.8%
2021Liabilities / assets72.9%
2022Liabilities / assets69%
2023Liabilities / assets72.6%
2024Liabilities / assets61.5%
2025Liabilities / assets62%

Current assets to current liabilities

Current assets divided by current liabilities.

1.2× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.3.03×2.27×1.51×0.76×0.00×2018-12-3120222025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2018-12-31Current assets / current liabilitiesNot reportedNo source recorded
2019Current assets / current liabilities1.33×
2020Current assets / current liabilities1.67×
2021Current assets / current liabilities1.72×
2022Current assets / current liabilities1.64×
2023Current assets / current liabilities2.8×
2024Current assets / current liabilities1.25×
2025Current assets / current liabilities1.2×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2018 2018-01-01 – 2018-12-31
Unavailable Not reported for this period.
USD 2.06 billion
Exact value

Exact value: 2055000000 USD

2018-01-01 – 2018-12-31: 2055000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2019 2019-01-01 – 2019-12-31
Unavailable Not reported for this period.
USD 2.06 billion
Exact value

Exact value: 2063000000 USD

2019-01-01 – 2019-12-31: 2063000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2020 2020-01-01 – 2020-12-31
Unavailable Not reported for this period.
USD 1.69 billion
Exact value

Exact value: 1692000000 USD

2020-01-01 – 2020-12-31: 1692000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2021 2021-01-01 – 2021-12-31
Unavailable Not reported for this period.
USD 2.24 billion
Exact value

Exact value: 2237000000 USD

2021-01-01 – 2021-12-31: 2237000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2022 2022-01-01 – 2022-12-31
USD 3.53 billion
Exact value

Exact value: 3534000000 USD

2022-01-01 – 2022-12-31: 3534000000 USD Inspect Net Income Open source
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USD 1.74 billion
Exact value

Exact value: 1743000000 USD

2022-01-01 – 2022-12-31: 1743000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2023 2023-01-01 – 2023-12-31
USD 1.35 billion
Exact value

Exact value: 1349000000 USD

2023-01-01 – 2023-12-31: 1349000000 USD Inspect Net Income Open source
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USD 2.61 billion
Exact value

Exact value: 2607000000 USD

2023-01-01 – 2023-12-31: 2607000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2024 2024-01-01 – 2024-12-31
USD 5.6 billion
Exact value

Exact value: 5604000000 USD

2024-01-01 – 2024-12-31: 5604000000 USD Inspect Net Income Open source
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USD 563 million
Exact value

Exact value: 563000000 USD

2024-01-01 – 2024-12-31: 563000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2025 2025-01-01 – 2025-12-31
USD 1.48 billion
Exact value

Exact value: 1484000000 USD

2025-01-01 – 2025-12-31: 1484000000 USD Inspect Net Income Open source
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USD 2.51 billion
Exact value

Exact value: 2513000000 USD

2025-01-01 – 2025-12-31: 2513000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

39 filings · 6,152 latest values · 6,152 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001783180, 1783180, CARR, edgar:1783180

Also known as CARRIER GLOBAL CORPORATION, CARRIER GLOBAL Corp, Carrier Global Corp