Direct Answer
Carrier Global reported revenue of $21.7 billion for the fiscal year ended December 31, 2025, with an operating margin of 10.0% and net income of $1.5 billion, according to its SEC filings. Revenue fell 3.3% from the prior year.
What Are Carrier Global's Key Financial Figures?
| Fiscal year | FY2025 ended December 31, 2025 | FY2024 ended December 31, 2024 | FY2023 ended December 31, 2023 | FY2022 ended December 31, 2022 |
|---|---|---|---|---|
| Revenue | $21.7 billion | $22.5 billion | $19.0 billion | $17.3 billion |
| Operating income | $2.2 billion | $2.6 billion | $2.2 billion | $4.0 billion |
| Operating margin | 10.0% | 11.8% | 11.4% | 23.0% |
| Net income | $1.5 billion | $5.6 billion | $1.3 billion | $3.5 billion |
| Net margin | 6.8% | 24.9% | 7.1% | 20.4% |
| Operating cash flow | $2.5 billion | $563 million | $2.6 billion | $1.7 billion |
| Capital expenditures | $392 million | $519 million | $439 million | $317 million |
| Free cash flow | $2.1 billion | $44 million | $2.2 billion | $1.4 billion |
Operating margin narrowed by 1.8 percentage points between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was $2.1 billion against net income of $1.5 billion; cash generation covered reported earnings.
What Does Carrier Global's Balance Sheet Show?
| Cash and cash equivalents | $1.6 billion |
|---|---|
| Long-term debt | $11.4 billion |
| Total assets | $37.2 billion |
| Total liabilities | $23.1 billion |
| Shareholders' equity | Not reported |
| Current ratio | 1.2x |
Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions.
Where These Numbers Come From
Every figure on this page is a value Carrier Global reported in its own SEC filings, read from the SEC's XBRL data (accession 0001783180-26-000008 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.
Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.
Frequently Asked Questions
What was Carrier Global's revenue in fiscal 2025?
Carrier Global reported revenue of $21.7 billion for the fiscal year ended December 31, 2025, according to its SEC filings.
What is Carrier Global's operating margin?
Carrier Global's operating margin was 10.0% in fiscal 2025: operating income of $2.2 billion on revenue of $21.7 billion.
How much free cash flow did Carrier Global generate?
Operating cash flow of $2.5 billion less capital expenditures of $392 million gives free cash flow of $2.1 billion for fiscal 2025.