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Stocks / United States / CARR · Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip · NYSE

Carrier Global Corp. (CARR)

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Carrier Global Corp. (CARR) reported revenue of $5.3 billion for Q1 FY2026, the quarter ended 31 March 2026, up 2.4% on the same quarter a year earlier. Net income was $238 million, down 42.2% on the year, and diluted earnings per share $0.28. The figures are the company's own, from the 10-Q it filed with the SEC on 30 April 2026.

Revenue$5.3 billionup 2.4%
Net income$238 milliondown 42.2%
Diluted EPS$0.28
QuarterQ1 FY2026ended 31 March 2026

Ratios

From the filings

ROE9.5%
ROCE7.4%
Operating margin8.2%
Net margin6.0%
FCF margin7.7%
Interest covern/a
Debt to equity0.76
Cash conversion1.61
Share count, 1 year-3.1%
Sales CAGR, 3 years7.9%
Profit CAGR, 3 years-25.1%
EPS, TTM$1.53

At the close of 21 September 2026

Price$54.62
Market cap$45.4 billion
Stock P/E35.70
Price to book3.29
EV / EBITDA17.62
Dividend yield1.2%
Market cap / sales2.07
52-week high$76.00
52-week low$50.36
Price, 1 year-9.6%
Price CAGR, 3 years1.1%
Price CAGR, 5 years0.8%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Carrier Global Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on CARR

Filings16 in twelve months: 6 current reports (8-K), about 4 results of operations; 1 officer or director change; 1 shareholder vote; 1 regulation fd disclosure
Planned insider sales1 Form 144 notice in twelve months, $750.0 million; latest 20 May 2026
Options tapeput/call 7.22 by open interest on 23 September 2026; the straddle prices a 3.0% move to 25 September 2026
Holders10 of the followed funds hold it; largest Capital Research Global Investors; 6 Schedule 13D or 13G filings in twelve months
Insider trading1 sale and 1 purchase on Form 4 in twelve months
Congress8 House trades disclosed in six months
Short interest15.3 million shares short, 2.78 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q2 FY2023Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026
Revenue5,9925,7314,3166,1826,6895,9845,1485,2186,1135,5794,8375,341
R&D151157170224187172103153161151160143
SG&A784831961985975799438729813803747861
Operating income4896455395003,691763774629903539101259
Operating margin8%11%12%8%55%13%15%12%15%10%2%5%
Pre-tax income4225945593353,524770-2,3555488124335.0170
Tax rate45%36%21%14%33%22%n/a20%20%-0%-640%-56%
Net income1993574202692,3374472,55141259142853.0238
Net margin3%6%10%4%35%7%50%8%10%8%1%4%
Diluted EPS$0.23$0.42$0.49$0.29$2.55$0.49$2.82$0.47$0.68$0.50$0.07$0.28
Operating cash flow3841,0411,06240.0660-2691324836493411,04079.0
Capital expenditure74.092.023310411187.021763.081.011713194.0
Free cash flow310949829-64.0549-356-85.0420568224909-15.0
Buybacks0.00.00.00.00.04311,5131,288340785479306
Dividends paid155156155159171184156198192193189201
Shares outstanding838m839m840m901m903m897m878m857m851m842m836m831m
Filing10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 8 fiscal years and the trailing twelve months

FY2018FY2019FY2020 FY2021FY2022 FY2023 FY2024FY2025TTM
Revenue18,91418,60817,45620,61317,28818,95122,48621,74721,870
Cost of revenuen/an/an/an/a12,99113,78916,505n/an/a
Gross profitn/an/an/an/a7,4308,3095,981n/an/a
Gross marginn/an/an/an/a43.0%43.8%26.6%n/an/a
Research and development400401419503416493686625615
Selling, general and administrative2,6892,7612,8203,1201,9772,6073,1973,0923,224
Operating income3,6372,4913,0832,6453,9842,1602,6462,1721,802
Operating margin19.2%13.4%17.7%12.8%23.0%11.4%11.8%10.0%8.2%
Interest expensen/an/a298319238306580458n/a
Pre-tax income3,8422,6722,8552,4003,8231,9992,2741,7981,420
Income tax1,0735178496996165211,06224033.0
Effective tax rate27.9%19.3%29.7%29.1%16.1%26.1%46.7%13.3%2.3%
Net income2,7342,1161,9821,6643,5341,3495,6041,4841,310
Net margin14.5%11.4%11.4%8.1%20.4%7.1%24.9%6.8%6.0%
Diluted EPS$3.16$2.44$2.25$1.87$4.10$1.58$6.15$1.72$1.53
Filing10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed. FY2024: the four quarters as first filed in the 10-Qs do not add to the year as filed in the 10-K, because the company later restated them (a spin-off or discontinued operations).

Cash flow and capital returned

FY2018FY2019FY2020 FY2021FY2022 FY2023 FY2024FY2025TTM
Operating cash flow2,0552,0631,6922,2371,7432,6075632,5132,109
Capital expenditure263243312344317439519392423
Free cash flow1,7921,8201,3801,8931,4262,16844.02,1211,686
Free cash flow margin9.5%9.8%7.9%9.2%8.2%11.4%0.2%9.8%7.7%
Depreciation and amortisation3573353363383284911,2321,2741,286
Share-based compensation44.052.077.092.077.081.098.074.072.0
Buybacksn/a0.00.05271,38062.01,9442,8921,910
Dividends paid0.00.0138417509620670772775
Dividend per sharen/an/a$0.28$0.51$0.64$0.74$0.80$0.68n/a
Diluted shares, weighted866m866m880m890m861m853m912m862m843m
Shares outstanding at period endn/an/a868m863m835m840m878m836m831m
Filing10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2018FY2019FY2020 FY2021FY2022 FY2023 FY2024FY2025TTM
Total assetsn/a22,40625,09326,17226,08632,82237,40337,19037,186
Cash and equivalents1,1299523,1152,9873,2989,8523,9691,5551,371
Receivablesn/a2,7262,7812,4032,8332,0802,6512,6393,130
Inventoryn/a1,3321,6291,9702,6401,8232,2992,4832,581
Goodwill9,8499,88410,1399,3497,6267,52014,60115,50115,313
Long-term debtn/a31910,2279,5138,70214,24211,02611,36510,422
Long-term debt including finance leasesn/a82.010,0369,5138,70214,24211,02611,36510,422
Borrowings, as the company tags themn/a31910,0009,500n/an/an/an/an/a
Operating lease liabilitiesn/a682642527529333432418415
Shareholders' equity14,26914,1026,5787,0948,0769,00514,39514,12813,801
Filing10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a4.5%7.9%-5.1%
Profit growth, compoundedn/a-5.6%-25.1%-77.2%
Return on equity, averagen/a26.3%21.5%10.5%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Johnson Controls International plc JCI$88.6 billion26.2526.1%n/a14.9%0.641.0%
Carrier Global Corp. CARR$45.4 billion35.709.5%8.2%-5.1%0.761.2%
Lennox International Inc. LII$12.7 billion16.3764.5%19.5%-2.0%0.941.4%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202628 July 2026EDGAR
10-Q31 March 202630 April 2026EDGAR
10-K31 December 20255 February 2026EDGAR
10-Q30 September 202528 October 2025EDGAR
10-Q30 June 202529 July 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202411 February 2025EDGAR
10-Q30 September 202425 October 2024EDGAR
10-Q30 June 202425 July 2024EDGAR
10-Q31 March 202425 April 2024EDGAR

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