CARRIER GLOBAL Corp (CARR) closed fiscal year 2025 with a gross margin of 25.9 % and a net margin of 6.8 %.
CARRIER GLOBAL Corp (CARR) closed fiscal year 2025 with a gross margin of 25.9 % and a net margin of 6.8 %. The same year shows an EBITDA margin of 15.8 % and an EBIT margin of 10.0 %. The free cash flow margin was 9.8 %. Against the previous year the gross margin moved −0.7 pp and the net margin −18.1 pp. Across the period the gross margin ranges between 25.9 % in 2025 and 27.2 % in 2023. The series covers 8 fiscal years, from 2018 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | 27.24 % | 26.60 % | 25.86 % |
| EBITDA margin (%) | 21.12 % | 15.19 % | 19.59 % | 14.47 % | 24.94 % | 13.99 % | 17.25 % | 15.85 % |
| EBIT margin (%) | 19.23 % | 13.39 % | 17.66 % | 12.83 % | 23.04 % | 11.40 % | 11.77 % | 9.99 % |
| Net margin (%) | 14.45 % | 11.37 % | 11.35 % | 8.07 % | 20.44 % | 7.12 % | 24.92 % | 6.82 % |
| FCF margin (%) | 9.47 % | 9.78 % | 7.91 % | 9.18 % | 8.25 % | 11.44 % | 0.20 % | 9.75 % |
