Carrier Global Corporation (CARR) Revenue History
Annual and quarterly revenue from 2017 to 2025
Compound Annual Growth Rate (CAGR)
Loading revenue history...
CARR Revenue Growth
Revenue Breakdown (FY 2025)
CARR's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
CARR Revenue Analysis (2017–2025)
As of May 8, 2026, Carrier Global Corporation (CARR) generated trailing twelve-month (TTM) revenue of $21.87 billion, reflecting modest growth of +2.4% year-over-year. The most recent quarter (Q1 2026) recorded $5.34 billion in revenue, up 10.4% sequentially.
Looking at the longer-term picture, CARR's 5-year compound annual growth rate (CAGR) stands at +4.5%, indicating moderate growth over time. The company achieved its highest annual revenue of $22.49 billion in 2024.
Revenue diversification analysis shows CARR's business is primarily driven by Product (88%), and Service (12%). With over half of revenue concentrated in Product, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including TT (+6.4% YoY), LII (-2.0% YoY), and JCI (+5.1% YoY), CARR has underperformed the peer group in terms of revenue growth. Compare CARR vs TT →
CARR Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CARRCurrent | $21.9B | +2.4% | +4.5% | 9.9% | |
 TT | $21.3B | +6.4% | +11.4% | 18.6% | |
 LII | $5.2B | -2.0% | +7.4% | 19.5% | |
 JCI | $23.6B | +5.1% | +1.1% | 12.0% | |
 ALLE | $4.1B | +8.9% | +8.4% | 21.1% | |
 AAON | $1.4B | +28.3% | +22.9% | 10.1% |
CARR Historical Revenue Data (2017–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $21.75B | -3.3% | $5.63B | 25.9% | $2.15B | 9.9% |
| 2024 | $22.49B | +18.7% | $6.02B | 26.8% | $2.65B | 11.8% |
| 2023 | $18.95B | +9.6% | $5.17B | 27.3% | $2.16B | 11.4% |
| 2022 | $17.29B | -16.1% | $4.30B | 24.9% | $3.98B | 23.0% |
| 2021 | $20.61B | +18.1% | $6.01B | 29.1% | $2.65B | 12.8% |
| 2020 | $17.46B | -6.2% | $5.13B | 29.4% | $3.08B | 17.7% |
| 2019 | $18.61B | -1.6% | $5.46B | 29.3% | $2.49B | 13.4% |
| 2018 | $18.91B | +6.2% | $5.61B | 29.6% | $3.64B | 19.2% |
| 2017 | $17.81B | - | $5.23B | 29.4% | $3.03B | 17.0% |
Full CARR Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See CARR's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs CARR Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare CARR vs SPIR
Side-by-side business, growth, and profitability comparison vs Spire Global, Inc..
Start ComparisonCARR — Frequently Asked Questions
Quick answers to the most common questions about buying CARR stock.
Is CARR's revenue growth accelerating or slowing?
CARR revenue growth slowed to +2.4%, below the 5-year CAGR of +4.5%. TTM revenue is $21.9B. The deceleration marks a shift from historical growth rates.
What is CARR's long-term revenue growth rate?
Carrier Global Corporation's 5-year revenue CAGR of +4.5% reflects the variable expansion pattern. Current YoY growth of +2.4% is near this long-term average.
How is CARR's revenue distributed by segment?
CARR reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2017-2025 are available for download. Segment mix reveals concentration and diversification trends.