Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $18.9B | $18.6B | $17.5B | $20.6B | $17.3B | $19.0B | $22.5B | $21.7B |
| Revenue growth | — | -1.6% | -6.2% | 18.1% | -16.1% | 9.6% | 18.7% | -3.3% |
| Operating income | $3.64B | $2.49B | $3.08B | $2.65B | $3.98B | $2.16B | $2.65B | $2.17B |
| Operating margin | 19.2% | 13.4% | 17.7% | 12.8% | 23.0% | 11.4% | 11.8% | 10.0% |
| Net income | $2.77B | $2.15B | $2.01B | $1.70B | $3.53B | $1.35B | $5.60B | $1.48B |
| Net margin | 14.6% | 11.6% | 11.5% | 8.3% | 20.4% | 7.1% | 24.9% | 6.8% |
| EPS (diluted) | $3.16 | $2.44 | $2.25 | $1.87 | $4.10 | $1.58 | $6.15 | $1.72 |
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.06B | $2.06B | $1.69B | $2.24B | $1.74B | $2.61B | $563M | $2.51B |
| Capital expenditures | $263M | $243M | $312M | $344M | $317M | $439M | $519M | $392M |
| Free cash flow | $1.79B | $1.82B | $1.38B | $1.89B | $1.43B | $2.17B | $44.0M | $2.12B |
| Share buybacks | — | $0.00 | $0.00 | $527M | $1.38B | $62.0M | $1.94B | $2.89B |
| Dividends paid | $0.00 | $0.00 | $138M | $417M | $509M | $620M | $670M | $772M |
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.13B | $952M | $3.12B | $2.99B | $3.30B | $9.85B | $3.97B | $1.55B |
| Total assets | — | $22.4B | $25.1B | $26.2B | $26.1B | $32.8B | $37.4B | $37.2B |
| Total liabilities | — | $7.97B | $18.5B | $19.1B | $18.0B | $23.8B | $23.0B | $23.1B |
| Long-term debt | — | $82.0M | $10.0B | — | — | — | $11.0B | $11.4B |
| Shareholders' equity | $14.3B | $14.4B | $6.58B | $7.09B | $8.08B | $9.01B | $14.4B | $14.1B |
| Retained earnings | — | $0.00 | $1.64B | $2.87B | $5.87B | $6.59B | $11.5B | $12.2B |
| Shares (wtd avg diluted) | 866M | 866M | 880M | 890M | 861M | 853M | 912M | 862M |
Every figure is extracted from CARRIER GLOBAL Corp’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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