Carrier Global (CARR) FY2024 results: revenue $22.5 billion, up 18.7% on the year
Carrier Global Corp. (CARR) reported revenue of $22.5 billion for fiscal 2024, the year ended 31 December 2024, up 18.7% on the year before. Net income was $5.6 billion, up 315.4%, and diluted earnings per share $6.15. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2025.
Revenue
$22.5 billion
+18.7% on the year
FY2018FY2024
Operating margin
11.8%
11.4% a year earlier
FY2018FY2024
Net income
$5.6 billion
+315.4% on the year
FY2018FY2024
Diluted EPS
$6.15
+289.2% on the year
FY2018FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
563
2,607
1,743
-78.4%
Capital expenditure
519
439
317
+18.2%
Free cash flow
44.0
2,168
1,426
-98.0%
Free cash flow margin
0.2%
11.4%
8.2%
Cash from investing
-2,025
-660
1,745
Cash from financing
-4,636
4,612
-2,931
Depreciation and amortisation
1,232
491
328
+150.9%
Share-based compensation
98.0
81.0
77.0
+21.0%
Buybacks
1,944
62.0
1,380
+3,035.5%
Dividends paid
670
620
509
+8.1%
Dividend per share
$0.80
$0.74
$0.64
+6.7%
Diluted shares, weighted
912m
853m
861m
+6.9%
Shares outstanding at period end
878m
840m
835m
+4.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
14,395
9,005
8,076
+59.9%
Debt
12,362
14,293
8,842
-13.5%
Operating lease liabilities
432
333
529
+29.7%
Other liabilities
10,214
9,191
8,639
+11.1%
Total liabilities and equity
37,403
32,822
26,086
+14.0%
Fixed assets
2,999
2,160
2,241
+38.8%
Goodwill
14,601
7,520
7,626
+94.2%
Intangible assets
6,432
945
1,342
+580.6%
Cash and equivalents
3,969
9,852
3,298
-59.7%
Receivables
2,651
2,080
2,833
+27.5%
Inventory
2,299
1,823
2,640
+26.1%
Other assets
4,452
8,442
6,106
-47.3%
Total assets
37,403
32,822
26,086
+14.0%
10-K for the year ended 31 December 2024, filed 11 February 2025: the filing.