gross profit bridgeinconsistent2024-12-31
Withheld: gross profit could not be reconciled with the rest of this filer’s statement.
Revenue
$21.75B
Fiscal year ended 2025-12-31Operating income
$2.17B
Fiscal year ended 2025-12-31Free cash flow
Unavailable
Fiscal year ended 2025-12-31CARRIER GLOBAL Corp (CARR) reported revenue of $21.75B and net income of $1.48B for the fiscal year ended 2025-12-31. This page shows 8 annual periods of income statement, balance sheet and cash flow figures normalized from CARRIER GLOBAL Corp’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $21.75B | $22.49B | $18.95B | $17.29B | $20.61B | $17.46B | $18.61B | $18.91B |
| Cost of revenue | Unavailable | $16.50B | $13.79B | $12.99B | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | $4.30B | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | $2.17B | $2.65B | $2.16B | $3.98B | $2.64B | $3.08B | $2.49B | $3.64B |
| Net income | $1.48B | $5.60B | $1.35B | $3.53B | Unavailable | Unavailable | Unavailable | Unavailable |
| Research & development | $625.00M | $686.00M | $493.00M | $416.00M | $503.00M | $419.00M | $401.00M | $400.00M |
| Weighted-average diluted shares | shares 862.40M | shares 911.70M | shares 853.00M | shares 861.20M | shares 890.30M | shares 880.20M | shares 866.20M | shares 866.20M |
| Pretax income | $1.80B | $2.27B | $2.00B | $3.82B | $2.40B | $2.86B | $2.67B | $3.84B |
| Income tax expense | $240.00M | $1.06B | $521.00M | $616.00M | $699.00M | $849.00M | $517.00M | $1.07B |
| Diluted EPS | $1.72 | $6.15 | $1.58 | $4.10 | $1.87 | $2.25 | $2.44 | $3.16 |
| Selling, general & administrative | $3.09B | $3.20B | $2.61B | $1.98B | $3.12B | $2.82B | $2.76B | $2.69B |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.56B | $3.97B | $9.85B | $3.30B | $2.99B | $3.12B | $952.00M | $1.13B |
| Total assets | $37.19B | $37.40B | $32.82B | $26.09B | $26.17B | $25.09B | $22.41B | Unavailable |
| Current assets | $8.53B | $9.89B | $19.58B | $9.88B | $11.41B | $8.52B | $5.96B | Unavailable |
| Total liabilities | $23.06B | $23.01B | $23.82B | $18.01B | $19.08B | $18.52B | $7.97B | Unavailable |
| Current liabilities | $7.11B | $7.89B | $6.98B | $6.03B | $6.63B | $5.11B | $4.47B | Unavailable |
| Total equity incl. NCI | $14.13B | $14.40B | $9.00B | $8.08B | $7.09B | $6.58B | $14.44B | $14.27B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | $2.48B | $2.30B | $1.82B | $2.64B | $1.97B | $1.63B | $1.33B | Unavailable |
| Accounts receivable | $2.64B | $2.65B | $2.08B | $2.83B | $2.40B | $2.78B | $2.73B | Unavailable |
| Goodwill | $15.50B | $14.60B | $7.52B | $7.63B | $9.35B | $10.14B | $9.88B | $9.85B |
| Long-term debt | $11.36B | $11.03B | $14.24B | $8.70B | $9.51B | $10.04B | $82.00M | Unavailable |
| Accounts payable | $2.70B | $2.46B | $2.48B | $2.83B | $2.33B | $1.94B | $1.70B | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.51B | $563.00M | $2.61B | $1.74B | $2.24B | $1.69B | $2.06B | $2.06B |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Investing cash flow | -$307.00M | -$2.02B | -$660.00M | $1.74B | -$692.00M | $1.11B | -$259.00M | $415.00M |
| Financing cash flow | -$4.67B | -$4.64B | $4.61B | -$2.93B | -$1.56B | -$681.00M | -$1.98B | -$2.63B |
| Net change in cash | -$2.39B | -$6.20B | $6.65B | $501.00M | -$33.00M | $2.16B | -$177.00M | -$196.00M |
| Stock-based compensation | $74.00M | $98.00M | $81.00M | $77.00M | $92.00M | $77.00M | $52.00M | $44.00M |
| Common dividends paid | $772.00M | $670.00M | $620.00M | $509.00M | $417.00M | $138.00M | $0 | $0 |
| Common share repurchases | $2.89B | $1.94B | $62.00M | $1.38B | $527.00M | $0 | $0 | Unavailable |
| Depreciation & amortization | $1.27B | $1.23B | $491.00M | $328.00M | $338.00M | $336.00M | $335.00M | $357.00M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | Unavailable | Unavailable | Unavailable | 24.9% | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | 10.0% | 11.8% | 11.4% | 23.0% | 12.8% | 17.7% | 13.4% | 19.2% |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | 0.3% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.3% | 0.2% |
| Current ratio | 1.20x | 1.25x | 2.80x | 1.64x | 1.72x | 1.67x | 1.33x | Unavailable |
| Revenue YoY growth | -3.3% | 18.7% | 9.6% | -16.1% | 18.1% | -6.2% | -1.6% | Unavailable |
| Net margin | 6.8% | 24.9% | 7.1% | 20.4% | Unavailable | Unavailable | Unavailable | Unavailable |
| R&D / revenue | 2.9% | 3.1% | 2.6% | 2.4% | 2.4% | 2.4% | 2.2% | 2.1% |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 0.80x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 13.3% | 46.7% | 26.1% | 16.1% | 29.1% | 29.7% | 19.3% | 27.9% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open CARR in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-04-30View SEC filing
10-K · Filed 2026-02-05View SEC filing
10-Q · Filed 2025-10-28View SEC filing
10-Q · Filed 2025-07-29View SEC filing
10-Q · Filed 2025-05-01View SEC filing
10-K · Filed 2025-02-11View SEC filing
Reconciliation checks needing review
2 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.
gross profit bridgeinconsistent2023-12-31
Withheld: gross profit could not be reconciled with the rest of this filer’s statement.