CARRNYSEAir-Cond & Warm Air Heatg Equip & Comm & Indl Refrig EquipFiscal year ends December 31
CARRIER GLOBAL Corp
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Jul 28, 2026
$55.21+0.21 (+0.38%)
Close on Oct 19, 2026
- Market cap
- $46.53B
- P/E (TTM)
- 36.3
- Dividend yield
- 1.22%
Margins
Share of revenue, fiscal years 2017 to 2025
Gross margin
–
Operating margin
10.0%−7.7 pts over 5 years
Net margin
6.8%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -3.3% | +7.9% | +4.5% | – | |
| Operating income | -17.9% | -18.3% | -6.8% | – | |
| Net income | -73.5% | -25.1% | – | – | |
| EPS, diluted | -72.0% | -25.1% | -5.2% | – | |
| Free cash flow | +4720.5% | +14.1% | +9.0% | – | |
| Dividend per share | -15.1% | +2.1% | +19.2% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on assets | – | – | 4.0% | |
| Current ratio | – | 1.67 | 1.20 | |
| Net debt to EBITDA | – | 2.08× | 2.98× | |
| Interest coverage | – | 10.3× | 4.7× | |
| Inventory turnover | – | – | – | |
| Capex to revenue | – | 1.8% | 1.8% | |
| Diluted shares | – | 880M | 862M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Carrier Global generated $9.66B from operations and spent $11.80B on capital expenditure, dividends and share buybacks. 17% of that went back into the business.
Generated
$9.66B
Used
$11.80B
Capital expenditure$2.01B17%Dividends$2.99B25%Share buybacks$6.81B58%
DuPont needs revenue, assets and equity
This company does not report all three for consecutive years.
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$1.48B
- Cash generatingOperating cash flow above zero$2.51B
- Return on assets improvedROA up on the prior year17.1% → 4.0%
- Earnings backed by cashOperating cash flow above net income$2.51B vs $1.48B
- Less leverageLong-term debt to assets fell29.5% → 30.6%
- Better liquidityCurrent ratio rose1.25 → 1.20
- No dilutionShare count did not rise912M → 862M
- Gross margin improvedGross margin up on the prior year26.60% → –
- More efficientAsset turnover rose0.69 → 0.58