CARRIER GLOBAL Corp CARR
Carrier Global Corporation ("we" or "our" or the "Company") is a global leader in intelligent climate and energy solutions, focused on providing differentiated, digitally enabled lifecycle solutions to our customers. Our portfolio includes industry-leading brands such as Carrier, Viessmann, Toshiba, Automated Logic and Carrier Transicold, among others, that offer innovative heating, cooling and cold chain solutions to enhance the lives we live and the world we share. We also provide a broad array of related building services, including audit, design, installation, system integration, repair, maintenance and monitoring.
Through our performance-driven culture, we anticipate creating long-term shareowner value by investing strategically to strengthen our product position in homes, buildings and across the cold chain to drive profitable growth. We believe our business segments are well positioned to benefit from favorable secular trends, including the mega-trends of urbanization, population growth and demographic shifts, food security and safety, electrification, increasing demand for climate control and accelerated digitalization. Coupled with our industry-leading brands and track record of innovation, we continue to provide market-leading solutions for our customers.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.75B | $22.49B | $18.95B | $17.29B | $20.61B | $17.46B | $18.61B | $18.91B | — |
| Cost of revenue | — | $16.50B | $13.79B | $12.99B | — | — | — | — | — |
| Gross profit | — | $5.98B | $5.16B | $4.30B | — | — | — | — | — |
| R&D | $625.0M | $686.0M | $493.0M | $416.0M | $503.0M | $419.0M | $401.0M | $400.0M | — |
| SG&A | $3.09B | $3.20B | $2.61B | $1.98B | $3.12B | $2.82B | $2.76B | $2.69B | — |
| Total operating expenses | $19.84B | $20.39B | $16.89B | $15.38B | $18.26B | $15.59B | $16.35B | $16.43B | — |
| Operating income | $2.17B | $2.65B | $2.16B | $3.98B | $2.65B | $3.08B | $2.49B | $3.64B | — |
| Pre-tax income | $1.80B | $2.27B | $2.00B | $3.82B | $2.40B | $2.85B | $2.67B | $3.84B | — |
| Income tax | $240.0M | $1.06B | $521.0M | $616.0M | $699.0M | $849.0M | $517.0M | $1.07B | — |
| Net income | $1.48B | $5.60B | $1.35B | $3.53B | $1.70B | $2.01B | $2.15B | $2.77B | — |
| EPS, basic | 1.74 | 6.24 | 1.61 | 4.19 | 1.92 | 2.29 | 2.44 | 3.16 | — |
| EPS, diluted | 1.72 | 6.15 | 1.58 | 4.10 | 1.87 | 2.25 | 2.44 | 3.16 | — |
| Shares, diluted (wtd. avg.) | $862.4M | $911.7M | $853.0M | $861.2M | $890.3M | $880.2M | $866.2M | $866.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.55B | $3.97B | $9.85B | $3.30B | $2.77B | $3.12B | $957.0M | $1.13B | $1.33B |
| Receivables | $2.64B | $2.65B | $2.08B | $2.83B | $2.40B | $2.78B | $2.73B | — | — |
| Inventory | $2.48B | $2.30B | $1.82B | $2.64B | $1.97B | $1.63B | $1.33B | — | — |
| Total current assets | $8.53B | $9.89B | $19.58B | $9.88B | $11.41B | $8.52B | $5.96B | — | — |
| Property, plant and equipment | $3.17B | $3.00B | $2.16B | $2.24B | $1.83B | $1.81B | $1.66B | — | — |
| Goodwill | $15.50B | $14.60B | $7.52B | $7.63B | $9.35B | $10.14B | $9.88B | $9.85B | — |
| Other intangibles | $6.33B | $6.43B | $945.0M | $1.34B | $509.0M | $1.04B | $1.08B | — | — |
| Total assets | $37.19B | $37.40B | $32.82B | $26.09B | $26.17B | $25.09B | $22.41B | — | — |
| Accounts payable | $2.70B | $2.46B | $2.48B | $2.83B | $2.33B | $1.94B | $1.70B | — | — |
| Short-term debt | $108.0M | $1.25B | $51.0M | $140.0M | $183.0M | $191.0M | $237.0M | — | — |
| Total current liabilities | $7.11B | $7.89B | $6.98B | $6.03B | $6.63B | $5.11B | $4.47B | — | — |
| Long-term debt | $11.37B | $11.03B | — | — | — | $10.04B | $82.0M | — | — |
| Total liabilities | $23.06B | $23.01B | $23.82B | $18.01B | $19.08B | $18.52B | $7.97B | — | — |
| Retained earnings | $12.19B | $11.48B | $6.59B | $5.87B | $2.87B | $1.64B | $0 | — | — |
| Total equity | $14.13B | $14.39B | $9.01B | $8.08B | $7.09B | $6.58B | $14.44B | $14.27B | $14.78B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.51B | $563.0M | $2.61B | $1.74B | $2.24B | $1.69B | $2.06B | $2.06B | — |
| Depreciation and amortisation | $1.27B | $1.23B | $491.0M | $328.0M | $338.0M | $336.0M | $335.0M | $357.0M | — |
| Stock-based compensation | $74.0M | $98.0M | $81.0M | $77.0M | $92.0M | $77.0M | $52.0M | $44.0M | — |
| Capital expenditure | $392.0M | $519.0M | $439.0M | $317.0M | $344.0M | $312.0M | $243.0M | $263.0M | — |
| Investing cash flow | -$307.0M | -$2.02B | -$660.0M | $1.75B | -$692.0M | $1.11B | -$259.0M | $415.0M | — |
| Financing cash flow | -$4.67B | -$4.64B | $4.61B | -$2.93B | -$1.56B | -$681.0M | -$1.98B | -$2.63B | — |
| Dividends paid | $772.0M | $670.0M | $620.0M | $509.0M | $417.0M | $138.0M | $0 | $0 | — |
| Buybacks | $2.89B | $1.94B | $62.0M | $1.38B | $527.0M | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001783180-26-000008.
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| GCDT | Green Circle Decarbonize Technology Ltd | — | — | — |