Analyze Portfolio
NYSE · Industrials

CARRIER GLOBAL Corp (CARR)

As-reported financials and recent SEC filings for CARRIER GLOBAL Corp, latest fiscal period FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About CARRIER GLOBAL Corp

Carrier Global Corporation provides climate and energy solutions worldwide, including heating, cooling, ventilation, and cold chain products and services. Its offerings include air conditioners, heat pumps, energy management systems, and transport refrigeration products, serving residential, commercial, healthcare, retail, and transportation customers. The company operates through four segments covering the Americas, Europe, Asia Pacific, Middle East & Africa, and transportation, selling products directly and through various distribution channels.

Snapshot

Revenue
$21.75B
Revenue growth (YoY)
-3.3%
Net income
$1.48B
Diluted EPS
$1.72
Gross margin
Operating margin
10.0%
Net margin
6.8%
FCF margin
9.8%
ROE
10.5%
P/E (TTM)
46.2×
Market cap
$57.58B
Debt / equity
0.8×

Fundamentals are from SEC filings. P/E and market cap are derived from recent market prices, refreshed on a rolling basis (typically within the past week).

What changed at CARRIER GLOBAL

  • Revenue fell 3.3% to $21.7B in FY2025, slower than the 18.7% the year before.
  • Operating margin is 10.0% in FY2025, -2.8 pp against 12.8% in FY2021.
  • Most recent quarter Q1 FY2026: revenue $5.3B, up 2.4% from Q1 FY2025.
  • Free cash flow was $2.1B in FY2025, 9.8% of revenue.
  • Net income fell 73.5% to $1.5B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where CARRIER GLOBAL’s fundamentals sit among the 684 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin10.0%
66th percentile of 606
Net margin6.8%
66th percentile of 646
FCF margin9.8%
70th percentile of 561
Revenue growth (YoY)-3.3%
25th percentile of 669
ROE10.5%
62nd percentile of 601
P/E (TTM)46.2×
81st percentile of 435
Debt / equity0.80×
69th percentile of 406
Short interest3.03d
38th percentile of 676

No open-market insider buys in the last 90 days; 1 insider sale totaling $750.0M. For context, about 16% of companies in the universe saw any open-market insider buying in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 5 quant / multi-strat books), based on each investor’s most recent 13F (latest Q1 2026).

Conviction investors
3
+5 quant / multi-strat
Initiated / added
2
0 new, 2 added
Reduced / exited
7
5 trimmed, 2 exited
Combined position
$1.99B
reported long value
InvestorAs ofPosition valueSharesChange
Dodge & CoxQ1 2026$1.50B26.6MAdded
Citadel AdvisorsquantQ1 2026$203.4M3.6MReduced
AQR Capital ManagementquantQ1 2026$137.3M2.5MAdded
D. E. ShawquantQ1 2026$78.8M1.4MReduced
Millennium ManagementquantQ1 2026$41.6M739.0KReduced
Gotham Asset ManagementQ1 2026$15.0M266.0KReduced
Markel GroupQ1 2026$13.2M235.0KHeld
Two Sigma InvestmentsquantQ1 2026$312,9715.6KReduced

No longer held by: Point72 Asset Management (as of Q1 2026), Renaissance Technologies (as of Q1 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
open-market
Bought (90d)
open-market value
Sells (90d)
1
$750.0M
Signal
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-05-20
Viessmann MaximilianDirectorSell12.1M$62.01$750.0M

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
15.8M
settled 2026-07-15
Change vs prior
+0.3%
vs previous settlement
Days to cover
3.03
at avg daily volume
Avg daily volume
5.2M
FINRA reported
SettlementShares shortChangeDays to cover
2026-07-1515.8M+0.3%3.03
2026-06-3015.7M-5.4%2.71
2026-06-1516.6M-1.7%2.48
2026-05-2916.9M-12.8%2.22
2026-05-1519.4M+16.6%3.54
2026-04-3016.6M-11.8%2.33
2026-04-1518.9M-7.2%2.75
2026-03-3120.3M+2.0%2.74

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$21.75B$22.49B$18.95B$17.29B$20.61B
Gross profit$5.98B$5.16B$4.30B
Operating income$2.17B$2.65B$2.16B$3.98B$2.65B
Net income$1.48B$5.60B$1.35B$3.53B$1.70B
Diluted EPS$1.72$6.15$1.58$4.10$1.87

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$2.51B$563.0M$2.61B$1.74B$2.24B
Capital expenditure$392.0M$519.0M$439.0M$317.0M$344.0M
Free cash flow$2.12B$44.0M$2.17B$1.43B$1.89B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2026$5.34B2.4%$238.0M$0.28
Q4 FY2025$4.84B-6.0%$53.0M$0.06
Q3 FY2025$5.58B-6.8%$428.0M$0.50
Q2 FY2025$6.11B3.0%$591.0M$0.68
Q1 FY2025$5.22B-3.7%$412.0M$0.47
Q4 FY2024$5.15B19.3%$2.55B$2.82
Q3 FY2024$5.98B21.3%$447.0M$0.49
Q2 FY2024$5.93B14.5%$2.34B$2.55

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorIndustrials
SIC industryAir-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip
Fiscal year endDecember 31
Latest fiscal periodFY2025
SEC filings since2019
SEC CIK1783180

Recent SEC filings

10-K2026-02-05
View on EDGAR →
10-K2025-02-11
View on EDGAR →
10-Q2026-07-28
View on EDGAR →
10-Q2026-04-30
View on EDGAR →
10-Q2025-10-28
View on EDGAR →
10-Q2025-07-29
View on EDGAR →
8-K2026-07-28
View on EDGAR →
8-K2026-07-24
View on EDGAR →

Largest Industrials peers

All Industrials companies →

Monitor CARR

Get an alert when CARRIER GLOBAL files something material, see which superinvestors own it, and ask its filings a question with cited answers.

Monitor CARR free

Includes one free filing-grounded research answer. Or check your whole portfolio, no account needed.

Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.