What was CARRIER GLOBAL Corp's revenue in fiscal 2025?

CARRIER GLOBAL Corp reported revenue of $21.75B for fiscal 2025, down 3.3% from fiscal 2024.

What is CARRIER GLOBAL Corp's net margin?

Operating margin was 10.0% and net margin was 6.8%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.

What is CARRIER GLOBAL Corp's diluted EPS?

Diluted EPS was $1.72, down 72.0% from the prior year.

Are CARRIER GLOBAL Corp insiders buying or selling shares?

Over the past 12 months, insiders reported 1 open-market purchase totalling $1.0M and 1 open-market sale totalling $750.0M on Form 4.

Overview

CARRIER GLOBAL Corp

CARRNYSEIndustrialsAir-Cond & Warm Air Heatg Equip & Comm & Indl Refrig EquipCIK 0001783180S&P 500

Latest 10-K: FY2025, filed Feb 5, 2026 · Open the 10-K (Inline XBRL) ↗

Ask about CARR in Workspace

Revenue: $21.75B; 3.3%YoYdown from FY2024; TotalRevenue
Gross profit: Not reported
Operating income: $2.17B; 17.9%YoYdown from FY2024; OperatingIncome
Net income: $1.48B; 73.5%YoYdown from FY2024; NetIncome
Diluted EPS: $1.72; 72.0%YoYdown from FY2024; EPSDiluted
Diluted shares: 862.4M; 5.4%YoYdown from FY2024; WeightedAvgSharesDiluted

At a glance

Growth

CARRIER GLOBAL Corp reported revenue of $21.75B for fiscal 2025, down 3.3% from fiscal 2024.
Revenue grew faster than the median S&P 500 member in 3 of the last 5 fiscal years.

Profitability

Operating margin was 10.0% and net margin was 6.8%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.

Per share

Diluted EPS was $1.72, down 72.0% from the prior year.

Insiders & holders

Over the past 12 months, insiders reported 1 open-market purchase totalling $1.0M and 1 open-market sale totalling $750.0M on Form 4.

Written from the filed figures on this page by fixed rules — no AI.

Data as of Oct 23, 2026 · Sources: SEC EDGAR 10-K, Form 4

Quick answers

What was CARRIER GLOBAL Corp's revenue in fiscal 2025?: CARRIER GLOBAL Corp reported revenue of $21.75B for fiscal 2025, down 3.3% from fiscal 2024.
What is CARRIER GLOBAL Corp's net margin?: Operating margin was 10.0% and net margin was 6.8%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
What is CARRIER GLOBAL Corp's diluted EPS?: Diluted EPS was $1.72, down 72.0% from the prior year.
Are CARRIER GLOBAL Corp insiders buying or selling shares?: Over the past 12 months, insiders reported 1 open-market purchase totalling $1.0M and 1 open-market sale totalling $750.0M on Form 4.

Data as of Oct 23, 2026 · Sources: SEC EDGAR 10-K

Financial statements

Annual figures from the 10-K, most recent fiscal year first.

Income Statement

5 annual periods

Chip: YoY change.

Income Statement, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: S&P 500 median change. Line under a label: how many S&P 500 companies its median rests on.
Line item	FY2025	FY2024	FY2023	FY2022	FY2021	4Y CAGR
Revenue	$21.75B3.3%down S&P 500 6.4%	$22.49B18.7%up S&P 500 4.5%	$18.95B9.6%up S&P 500 4.8%	$17.29B16.1%down S&P 500 10.3%	$20.61B18.1%up S&P 500 13.8%	1.3% S&P 500 6.6%
Gross Profit Median of 315 / 498	—	$5.98B15.9%up S&P 500 5.5%	$5.16B20.1%up S&P 500 5.2%	$4.30B S&P 500 8.3%	—	— S&P 500 6.2%
Operating Income Median of 373 / 498	$2.17B17.9%down S&P 500 7.3%	$2.65B22.5%up S&P 500 7.4%	$2.16B45.8%down S&P 500 4.9%	$3.98B50.6%up S&P 500 7.5%	$2.65B14.2%down S&P 500 23.5%	-4.8% S&P 500 7.2%
Net Income	$1.48B73.5%down S&P 500 4.8%	$5.60B315.4%up S&P 500 5.7%	$1.35B61.8%down S&P 500 1.9%	$3.53B112.4%up S&P 500 1.3%	$1.66B^§16.0%down S&P 500 33.9%	-2.8% S&P 500 4.1%
EPS (Diluted)	$1.7272.0%down S&P 500 6.2%	$6.15289.2%up S&P 500 7.9%	$1.5861.5%down S&P 500 1.9%	$4.10119.3%up S&P 500 1.5%	$1.8716.9%down S&P 500 34.8%	-2.1% S&P 500 5.6%

§ Net income available to common stockholders; the company files no net-income line.

Balance Sheet

5 annual periods

Chip: YoY change.

Balance Sheet, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: S&P 500 median change. Line under a label: how many S&P 500 companies its median rests on.
Line item	FY2025	FY2024	FY2023	FY2022	FY2021	4Y CAGR
Total Assets	$37.19B0.6%down S&P 500 5.6%	$37.40B14.0%up S&P 500 3.4%	$32.82B25.8%up S&P 500 4.1%	$26.09B0.3%down S&P 500 2.2%	$26.17B4.3%up S&P 500 6.7%	9.2% S&P 500 4.7%
Total Liabilities Median of 357 / 498	$23.06B0.2%up S&P 500 6.4%	$23.01B3.4%down S&P 500 1.9%	$23.82B32.2%up S&P 500 2.9%	$18.01B5.6%down S&P 500 2.0%	$19.08B3.0%up S&P 500 5.2%	4.9% S&P 500 4.4%
Stockholders' Equity	$14.13B1.9%down S&P 500 6.8%	$14.39B59.9%up S&P 500 5.4%	$9.01B11.5%up S&P 500 7.3%	$8.08B13.8%up S&P 500 2.5%	$7.09B7.8%up S&P 500 9.0%	18.8% S&P 500 6.1%
Cash & Equivalents	$1.55B60.8%down S&P 500 5.2%	$3.97B59.7%down S&P 500 1.9%	$9.85B198.7%up S&P 500 6.7%	$3.30B10.4%up S&P 500 -8.6%	$2.99B4.1%down S&P 500 -2.9%	-15.1% S&P 500 2.0%
Total Debt Median of 393 / 498	$11.47B6.6%down S&P 500 2.3%	$12.28B14.1%down S&P 500 0.1%	$14.29B61.6%up S&P 500 0.1%	$8.84B8.8%down S&P 500 0.1%	$9.70B5.2%down S&P 500 0.0%	4.3% S&P 500 3.7%

Cash Flow Statement

5 annual periods

Chip: YoY change.

Cash Flow Statement, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: S&P 500 median change. Line under a label: how many S&P 500 companies its median rests on.
Line item	FY2025	FY2024	FY2023	FY2022	FY2021	4Y CAGR
Operating Cash Flow	$2.51B346.4%up S&P 500 6.3%	$0.56B78.4%down S&P 500 4.8%	$2.61B49.6%up S&P 500 9.9%	$1.74B22.1%down S&P 500 -0.7%	$2.24B32.2%up S&P 500 10.7%	3.0% S&P 500 7.0%
Capital Expenditures	$392.00M24.5%down S&P 500 5.4%	$519.00M18.2%up S&P 500 2.8%	$439.00M38.5%up S&P 500 11.3%	$317.00M7.8%down S&P 500 14.0%	$344.00M10.3%up S&P 500 8.1%	3.3% S&P 500 9.0%
Free Cash Flow Median of 378 / 498	$2.12B4720.5%up S&P 500 7.3%	$0.04B98.0%down S&P 500 6.1%	$2.17B52.0%up S&P 500 8.8%	$1.43B24.7%down S&P 500 -11.3%	$1.89B37.2%up S&P 500 10.2%	2.9% S&P 500 4.9%

n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.

S&P 500 median = median of the companies in the index on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-20. This compares reported figures, not share-price returns. Methodology

Ratios & valuation

FY2025

Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.

Valuation · Earnings yield

What a dollar of market value earned

3.3%

Wall Street

on net earnings

FY2024 9.0%

4.7%

Value investor

on free cash flow

FY2024 0.1%

Gap +1.4 pts: Value-investor figure 1.4 points higher

How it’s calculated

Wall Street · on net earnings

Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)

pe_ratio (ratio table)

P/E 30.7×

Value investor · on free cash flow

(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)

free cash flow ÷ market cap

Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.

Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.

Cash & capital allocation

Where the cash went in FY2025, from the 10-K cash flow statement.

Operating cash flow: $2.51B
Capex: $392.00M
Free cash flow: $2.12B
R&D: $625.00M
Buybacks: $2.89B
Dividends: $772.00M
Debt repaid: $1.21B
Debt issued: $48.00M
Net debt change: -$1.16B

Uses of operating cash flow, FY2025

Buybacks115.1%
Dividends30.7%
Capex15.6%
Debt repayment48.2%

Each use is shown against operating cash flow on its own; the uses overlap.

Buybacks + dividends exceeded free cash flow in FY2025, FY2024, FY2022.

Free cash flow by year

FY21$1.89B
FY22$1.43B
FY23$2.17B
FY24$44.00M
FY25$2.12B

Buybacks by year

FY21$527.00M
FY22$1.38B
FY23$62.00M
FY24$1.94B
FY25$2.89B

Smart money

Who is trading and holding CARRIER GLOBAL Corp, from Form 4, 13F and 13D/13G filings.

Insiders

Insider activity · past 12 months

Open-market trades reported on Form 4 in the past 365 days.

Buys: 1; 1 insider
Sales: 1; 1 insider
Value sold: $750.0M
Shares sold: 12,094,823
Net shares: -12,075,523; bought minus sold
Last trade: May 20, 2026

Purchases 0% of valueSales 100% of value

Latest open-market insider trades from Form 4
Insider	Type	Date	Shares	Price	Value	Filing
Viessmann MaximilianDirector	Sell	May 20, 2026	12,094,823	$62.01	$749,999,974	View filing on SEC EDGAR
Gitlin David L.Chairman and CEO	Buy	Nov 25, 2025	19,300	$52.62	$1,015,566	View filing on SEC EDGAR

Open-market purchases (code P) and sales (code S) only. Grants, option exercises and tax withholding are excluded. Sales may be made under pre-arranged Rule 10b5-1 plans.

Ownership

Largest institutional holders · 13F

The institutions holding CARRIER GLOBAL Corp, from their latest 13F filings.

Illustrative structure — live values are not shown here right now

See plans

Blockholders, 5% and over

13D/G

SC 13D / 13G, latest filing per filer.

Couldn't load blockholder filings right now.

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Percent of the class as each filer last reported it; filings older than a year may no longer reflect the stake. Latest filing per filer within three years; a later filing reporting 0% removes the filer.

Full history, every insider and 13F filer, 13D/G activist stakes, and webhooks are on Institutional.

See Institutional

Smart money

Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.

Restatement Radar

6 numbers CARRIER GLOBAL Corp later changed — same XBRL tag, both filings linked.

numbers changed: 6
restating filings: 3
came with an amendment or a non-reliance notice: 0

May 1, 2025 · 10-Q
changed 1 number
No amendment filed
Open filing
- Pretax incomeQ1 2024$335M restated to $244M−27.2%
  As reported · Apr 25, 2024us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Jul 29, 2025 · 10-Q
changed 1 number
No amendment filed
Open filing
- Pretax incomeQ2 2024$3.5B restated to $567M−83.9%
  As reported · Jul 25, 2024us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Jul 29, 2025 · 8-K
changed 4 numbers
No amendment filed
Open filing
- Operating incomeQ2 2024$3.7B restated to $724M−80.4%
  As reported · Jul 25, 2024us-gaap:OperatingIncomeLoss
- Operating incomeQ2 2023$489M restated to $651M+33.1%
  As reported · Jul 27, 2023us-gaap:OperatingIncomeLoss
- Operating incomeQ1 2024$500M restated to $385M−23.0%
  As reported · Apr 25, 2024us-gaap:OperatingIncomeLoss
- Operating incomeQ3 2023$645M restated to $510M−20.9%
  As reported · Oct 26, 2023us-gaap:OperatingIncomeLoss

CARR is not the only one.

See every restatement we've found across the market — or get an alert the next time CARR revises a number.

Restatement Radar Alert me

Restatements are detected by comparing every vintage of a fact across all of CARRIER GLOBAL Corp's filings back to 1993. A revision is not by itself a sign of wrongdoing — companies re-file for many legitimate reasons. This list is not exhaustive: it shows CARR's most significant revisions, and a figure absent from it has not been certified as unrevised.

Peers, filings & research

Sector Peers

Uber Technologies, Inc

HONEYWELL INTERNATIONAL INC

Recent SEC filings

The six newest, periodic reports and 8-Ks together. Dates are SEC filing dates.

All filings on EDGAR

Six most recent SEC filings, newest first
Form	Filing	Filed	Document
8-K	Current report (material events) · Event dated Jul 28, 2026 0001783180-26-000030 · accepted 10:58 UTC	Jul 28, 2026	Open	Filed Jul 28, 2026 · 0001783180-26-000030
10-Q	Quarterly report · Quarter ended Jun 30, 2026 0001783180-26-000032 · accepted 18:04 UTC	Jul 28, 2026	Open	Filed Jul 28, 2026 · 0001783180-26-000032
8-K	Current report (material events) · Event dated Jul 24, 2026 0000950142-26-002161 · accepted 20:05 UTC	Jul 24, 2026	Open	Filed Jul 24, 2026 · 0000950142-26-002161
8-K	Current report (material events) · Event dated Apr 30, 2026 0001783180-26-000023 · accepted 10:59 UTC	Apr 30, 2026	Open	Filed Apr 30, 2026 · 0001783180-26-000023
10-Q	Quarterly report · Quarter ended Mar 31, 2026 0001783180-26-000026 · accepted 19:19 UTC	Apr 30, 2026	Open	Filed Apr 30, 2026 · 0001783180-26-000026
10-K	Annual report · Fiscal year ended Dec 31, 2025 0001783180-26-000008 · accepted 20:26 UTC	Feb 5, 2026	Open	Filed Feb 5, 2026 · 0001783180-26-000008

“Open” goes to the Inline XBRL viewer when the filing has one, else the primary document. The accession opens the EDGAR index.

Research Reports

No published research on CARR yet.

Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on CARR and publish the result to your public profile.

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The data behind this page

27 tables, history 1993–present. Every figure above is a row you can query.

Fundamentals

Standardized financial facts, ratios and filings.

fact: 120.5Mrows
ratio: 5.3Mrows
filing: 2.35Mrows
entity: 19,888rows

292 standard concepts.

Built from these SEC forms

10-K
10-K/A
10-K405
10-KT
10-Q
10-Q/A
10-QT
20-F
20-F/A
40-F
40-F/A
8-K
8-K/A
6-K
6-K/A
S-1
S-3
S-4
S-11
F-1
F-3
F-4
POS AM
10-KSBsoon
10-QSBsoon
DEF 14Asoon
DEF 14Csoon
DEFA14Asoon
PRE 14Asoon
DEFM14Asoon
425soon
SC TO-Tsoon
SC TO-Isoon
SC 14D9soon
SC 13E3soon
CORRESPsoon
NT 10-Ksoon
NT 10-Qsoon
NT 20-Fsoon
N-PORT-Psoon

Smart money

Insider and institutional filings.

institutional_holding: 59.5Mrows
insider_transaction: 11.4Mrows
insider_filing: 5.2Mrows
insider_ownership: 1.33Mrows

78M+ smart-money rows in all.

Built from these SEC forms

Form 3
Form 3/A
Form 4
Form 4/A
Form 5
Form 5/A
13F-HR
13F-HR/A
13F-NT
13F-NT/A
SC 13D
SC 13D/A
SC 13G
SC 13G/A
Form 144
Form 144/A

One real fact row for CARRIER GLOBAL Corp

Fact receiptOperatingCashFlow

Operating cash flow · FY2025

$2.51B

2,513,000,000 USD

CARRIER GLOBAL Corp reported Operating cash flow of $2.5B for fiscal year 2025 in its 10-K filed Feb 5, 2026.

Fiscal period: 2025 FY
Period end: 2025-12-31
Form: 10-K
Filed: Feb 5, 2026
Entity (CIK): 0001783180

Provenance trail

Filed with the SEC
Form 10-K, filed Feb 5, 2026.
Accession 0001783180-26-000008
Open in the Inline XBRL viewer for 0001783180-26-000008
Reported in the filing
Operating cash flow for fiscal year 2025, the period ended 2025-12-31, in USD. Valuein maps the filed line to the standard concept OperatingCashFlow.
Stored as one fact row
Every channel returns this row with the same id.
fact_id 1aba1fa2c949877b3df21623a567d69af62760bdb1487c48a1682e588eb696d3
Shown on this page
The same $2.51B appears in the Cash Flow Statement and in Cash & capital allocation.

fact rowjson

{  "entity_id": "0001783180",  "standard_concept": "OperatingCashFlow",  "fiscal_year": 2025,  "fiscal_period": "FY",  "period_end": "2025-12-31",  "numeric_value": 2513000000,  "unit": "USD",  "accession": "0001783180-26-000008",  "fact_id": "1aba1fa2c949877b3df21623a567d69af62760bdb1487c48a1682e588eb696d3"}

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Terminalbash

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Python

from valuein_sdk import ValueinClient with ValueinClient() as client:    sql = """        SELECT fiscal_year, numeric_value FROM fact        WHERE entity_id = '0001783180'          AND standard_concept = 'TotalRevenue'          AND fiscal_period = 'FY'    """    print(client.run_query(sql))

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Cite this page

Data as of Oct 23, 2026. Canonical address: https://valuein.biz/data/CARR

APA-style text

Valuein. (2026, October 23). CARRIER GLOBAL Corp (CARR) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/CARR

BibTeX

@misc{valuein_carr_2026,
  author = {{Valuein}},
  title = {CARRIER GLOBAL Corp (CARR) financial statements, earnings power and smart-money summary},
  year = {2026},
  howpublished = {\url{https://valuein.biz/data/CARR}},
  note = {Data as of 2026-10-23; source: SEC EDGAR filings}
}

Open 10-K in SEC Inline XBRL viewer

10-K filed Feb 5, 2026 · accession 0001783180-26-000008

Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.

point-in-time · survivorship-free · every number traceable to its SEC filing

View CARR filings on SEC EDGAR

At a glance

Growth

Profitability

Per share

Insiders & holders

02Financial statements

Income Statement

Balance Sheet

Cash Flow Statement

Ratios & valuation

03Cash & capital allocation

Uses of operating cash flow, FY2025

Free cash flow by year

Buybacks by year

04Smart money

Insiders

Insider activity · past 12 months

Ownership

Largest institutional holders · 13F

Blockholders, 5% and over

Smart money

May 1, 2025 · 10-Q

Jul 29, 2025 · 10-Q

Jul 29, 2025 · 8-K

06Peers, filings & research

Sector Peers

Recent SEC filings

Research Reports

07The data behind this page

Fundamentals

Built from these SEC forms

Smart money

Built from these SEC forms

One real fact row for CARRIER GLOBAL Corp

Provenance trail

Get the same data

08Cite this page

03Cash & capital allocation

Uses of operating cash flow, FY2025

Free cash flow by year

Buybacks by year

04Smart money

Insiders

Insider activity · past 12 months

Ownership

Largest institutional holders · 13F

Blockholders, 5% and over

May 1, 2025 · 10-Q

Jul 29, 2025 · 10-Q

Jul 29, 2025 · 8-K

Sector Peers

Recent SEC filings

07The data behind this page

Fundamentals

Built from these SEC forms

Smart money

Built from these SEC forms

One real fact row for CARRIER GLOBAL Corp

Provenance trail

Get the same data

Financial statements

Cash & capital allocation

Smart money

Peers, filings & research

The data behind this page

Cite this page

Cash & capital allocation

Smart money

The data behind this page