CARRIER GLOBAL Corp

CARR 10-K · Q4 2025

CARR Q4 2025 request

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Revenue 4,837 5,148 -6.0%
Show Product Lines breakouts
Product 4,138 4,530 -8.7%
Product · CST 707 628 +12.6%
Product · Related Party 581 627 -7.3%
Service 699 618 +13.1%
Service · CST 65 53 +22.6%
Show Business Segments breakouts
CST · Operating Segments 772 681 +13.4%
Show Geography breakouts
Asia Pacific 958 931 +2.9%
Europe 1,611 1,535 +5.0%
Other 159 166 -4.2%
US 2,109 2,516 -16.2%
Show — breakouts
Revenue 1,645 2,069 -20.5%
Revenue -5,076 -4,510 -12.5%
Revenue -3,110 -2,707 -14.9%
Revenue -6,539 -6,260 -4.5%
Revenue -6,949 -6,708 -3.6%
Revenue -7,210 -7,027 -2.6%
Revenue 2,788 3,168 -12.0%
Revenue -5,196 -4,686 -10.9%
Revenue 1,668 1,469 +13.5%
Show Consolidation Items breakouts
Operating Segments 4,837 5,148 -6.0%
Cost of Revenue (Q)
Show Product Lines breakouts
Product -3,351 -3,335 -0.5%
Product · Related Party -55 -59 +6.8%
Service -525 -469 -11.9%
Show Business Segments breakouts
CST · Operating Segments -581 -486 -19.5%
Show — breakouts
Cost of Revenue -1,475 -1,586 +7.0%
Cost of Revenue 3,099 2,832 +9.4%
Cost of Revenue 2,104 2,043 +3.0%
Show Consolidation Items breakouts
Operating Segments -3,597 -3,593 -0.1%
Total Costs & Expenses -4,783 -4,769 -0.3%
Research & Development -160 -162 +1.2%
Show Business Segments breakouts
CST · Operating Segments -17 -20 +15.0%
Show — breakouts
Research & Development -89 -92 +3.3%
Research & Development 197 229 -14.0%
Research & Development 183 217 -15.7%
Show Consolidation Items breakouts
Operating Segments -140 -147 +4.8%
Selling, General & Administrative -747 -803 +7.0%
Show Business Segments breakouts
CST · Operating Segments -72 -79 +8.9%
Show — breakouts
Selling, General & Administrative -236 -265 +10.9%
Selling, General & Administrative 324 177 +83.1%
Selling, General & Administrative -239 -365 +34.5%
Show Consolidation Items breakouts
Operating Segments -682 -761 +10.4%
Operating Income 101 774 -87.0%
Show Business Segments breakouts
CST · Operating Segments 112 97 +15.5%
Show — breakouts
Operating Income 168 435 -61.4%
Operating Income -1,534 -1,422 -7.9%
Operating Income -1,538 -1,419 -8.4%
Show Consolidation Items breakouts
Operating Segments 495 707 -30.0%
Income Before Taxes 5 693 -99.3%
Income Tax Expense (Benefit) 32 -723 +104.4%
Net Income 62 2,569 -97.6%
Net Income 53 2,551 -97.9%
Comprehensive Income 149 1,247 -88.1%
EPS (Basic) 0.07 2.85 -97.5%
EPS (Diluted) 0.07 2.81 -97.5%
Wtd Avg Shares (Basic) -4.4 -2.7 -63.0%
Wtd Avg Shares (Diluted) -5.3 -2.7 -96.3%
Income Loss From Equity Method Investments 47 44 +6.8%
Show Business Segments breakouts
CST · Operating Segments 0 0
Show — breakouts
Income Loss From Equity Method Investments 24 29 -17.2%
Income Loss From Equity Method Investments -2 -14 +85.7%
Income Loss From Equity Method Investments -105 -107 +1.9%
Show Consolidation Items breakouts
Operating Segments 46 45 +2.2%
Net Income Loss Attributable To Noncontrolling Interest 9 18 -50.0%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 2024 YoY
Current Assets
Cash & Cash Equivalents 1,555 3,969 -60.8%
Inventory 2,483 2,299 +8.0%
Total Current Assets 8,533 9,891 -13.7%
Show Equity Method Investment Nonconsolidated Investee breakouts
Equity Method Investment Nonconsolidated Investee Or Group Of Investees 11,835 12,823 -7.7%
Non-Current Assets
Property, Plant & Equipment 3,165 2,999 +5.5%
Show Geography breakouts
Asia Pacific 482 486 -0.8%
Europe 1,404 1,253 +12.1%
Other 490 453 +8.2%
US 789 807 -2.2%
Operating Lease Right-of-Use Assets 546 554 -1.4%
Goodwill 15,501 14,601 +6.2%
Show Business Segments breakouts
CSA · Operating Segments 5,075 5,059 +0.3%
CSAME · Operating Segments 1,410 1,380 +2.2%
CSE · Operating Segments 7,808 7,035 +11.0%
CST · Operating Segments 1,208 1,127 +7.2%
Intangible Assets 6,326 6,432 -1.6%
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Relationships 4,570 4,668 -2.1%
Patents and trademarks 754 738 +2.2%
Technology and other 1,002 1,026 -2.3%
Deferred Tax Assets 1,074 1,131 -5.0%
Other Non-Current Assets 668 558 +19.7%
Total Assets 37,190 37,403 -0.6%
Show Equity Method Investment Nonconsolidated Investee breakouts
Equity Method Investment Nonconsolidated Investee Or Group Of Investees 14,253 15,219 -6.3%
Current Liabilities
Accounts Payable 2,702 2,458 +9.9%
Show Related Party Transactions By Related Party breakouts
Related Party 40 32 +25.0%
Accrued Liabilities 3,774 4,098 -7.9%
Deferred Revenue (Current) -691 -553 -25.0%
Commercial Paper 325
Current Portion of Long-Term Debt 108 1,252 -91.4%
Total Current Liabilities 7,114 7,892 -9.9%
Show Equity Method Investment Nonconsolidated Investee breakouts
Equity Method Investment Nonconsolidated Investee Or Group Of Investees 9,675 11,053 -12.5%
Debt Current 468 1,336 -65.0%
Non-Current Liabilities
Long-Term Debt (Q)
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure · Unsecured Debt 10,842 11,728 -7.6%
Long-Term Debt 11,365 11,026 +3.1%
Operating Lease Liabilities 418 432 -3.2%
Deferred Tax Liabilities 1,833 2,015 -9.0%
Other Non-Current Liabilities 2,140 1,429 +49.8%
Total Liabilities 23,062 23,008 +0.2%
Show Equity Method Investment Nonconsolidated Investee breakouts
Equity Method Investment Nonconsolidated Investee Or Group Of Investees 9,911 11,263 -12.0%
Contract With Customer Liability Noncurrent -203 -164 -23.8%
Stockholders' Equity
Common Stock 10 9 +11.1%
Additional Paid-In Capital 8,665 8,610 +0.6%
Retained Earnings 12,193 11,483 +6.2%
Accumulated Other Comprehensive Income -269 -2,106 +87.2%
Total Liabilities & Equity 37,190 37,403 -0.6%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Stock-Based Compensation 19 22 -13.6%
Deferred Income Taxes -85 -56 -51.8%
Other Non-Cash Items 229 -198 +215.7%
Change in Inventory 447 216 +106.9%
Net Cash from Operations 1,040 132 +687.9%
Investing Activities
Other Investing Activities 31 -17 +282.4%
Net Cash from Investing -110 3,089 -103.6%
Financing Activities
Share Repurchases -479 -1,513 +68.3%
Net Cash from Financing -787 -1,686 +53.3%
Other Cash Flow
Net Change in Cash 156 1,450 -89.2%

Values in millions USD. Source: SEC EDGAR 10-K filing.

This table is rendered from the same JSON returned by /api/financials.

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