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USD millions

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2019

FY2018

Revenue

21,747

22,486

18,951

17,288

20,613

17,456

18,608

18,914

Net income

1,484

5,604

1,349

3,534

1,664

1,982

2,116

2,734

Diluted EPS

1.72

6.15

1.58

4.10

1.87

2.25

2.44

3.16

Diluted shares

862

912

853

861

890

880

866

Operating cash flow

2,513

563

2,607

1,743

2,237

1,692

2,063

2,055

Capital expenditures

392

519

439

317

344

312

243

263

Free cash flow

2,121

2,168

1,426

1,893

1,380

1,820

1,792

Cash & equivalents

1,555

3,969

9,852

3,520

2,987

3,115

952

—

Total assets

37,190

37,403

32,822

26,086

26,172

25,093

22,406

—

Total liabilities

23,062

23,008

23,817

18,010

19,078

18,515

7,971

—

Shareholders' equity

14,128

14,395

9,005

8,076

7,094

6,578

14,435

—

CARRIER GLOBAL CORPORATION

CARRCIK 00017831808 fiscal years

RevenueFY2025

$21.75B3.3%

Net incomeFY2025

$1.48B73.5%

Free cash flowFY2025

$2.12B4,720.5%

Diluted EPSFY2025

$1.7272.0%

Trends

FY2018–FY2025 · hover a year for its filing

Revenue & net incomeRevenueNet income

revenue 1.1× since FY2018 · net margin 14.5% → 6.8%

MarginsNet marginFCF margin

FY2025: net 6.8% · free cash flow 9.8% of revenue

Cash flowOperating cash flowFree cash flow

FY2025: $2.51B operating cash − $392.0M capex = $2.12B free cash flow

Returns on capitalReturn on equityReturn on assets

return on equity 15% (FY2019) → 11% (FY2025) · on assets 4.0%

Balance sheetLiabilitiesEquity

FY2025: $37.19B assets · $23.06B liabilities · $14.13B equity

Financial statements

Annual Quarterly

USD millions, except per-share values; share counts in millions. Hover a value for its XBRL tag and filing accession.

USD millions	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Revenue	21,747	22,486	18,951	17,288	20,613	17,456	18,608	18,914
Net income	1,484	5,604	1,349	3,534	1,664	1,982	2,116	2,734
Diluted EPS	1.72	6.15	1.58	4.10	1.87	2.25	2.44	3.16
Diluted shares	862	912	853	861	890	880	866	866
Operating cash flow	2,513	563	2,607	1,743	2,237	1,692	2,063	2,055
Capital expenditures	392	519	439	317	344	312	243	263
Free cash flow	2,121	44	2,168	1,426	1,893	1,380	1,820	1,792
Cash & equivalents	1,555	3,969	9,852	3,520	2,987	3,115	952	—
Total assets	37,190	37,403	32,822	26,086	26,172	25,093	22,406	—
Total liabilities	23,062	23,008	23,817	18,010	19,078	18,515	7,971	—
Shareholders' equity	14,128	14,395	9,005	8,076	7,094	6,578	14,435	—

As reported in SEC filings; a missing tag shows “—”, never zero. Free cash flow is operating cash flow − capex. Methodology