Carrier Global (CARR) Free Cash Flow (2019 - 2026)
Carrier Global's Free Cash Flow came in at $674 million for Q3 2026, up 200.9% from $224 million a year earlier but down 16.8% from the prior quarter.
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Analysis
Carrier Global (CARR) Free Cash Flow (2019 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Carrier Global reported Free Cash Flow of $2.38 billion, up 75.1% year-over-year; for FY2025, it was $2.12 billion, up 101.6% from FY2024.
- Free Cash Flow carries a five-year compound annual growth rate of 9.0% (FY2020 to FY2025).
- Going back by year, Free Cash Flow was $1.05 billion in FY2024 (-51.5%), $2.17 billion in FY2023 (+52.0%), $1.43 billion in FY2022 (-24.7%) and $1.89 billion in FY2021 (+37.2%).
- The five-year range for quarterly Free Cash Flow is -$258 million (Q1 2022) to $1.02 billion (Q4 2022).
- Year-over-year, Free Cash Flow increased in four of the last six quarters, with growth averaging 106.9%.
- The fastest year-over-year change in Free Cash Flow over five years came in Q4 2025 (growth of 522.6%), and the weakest in Q4 2024 (a decline of 82.6%).
- Business Quant data shows CARR's Free Cash Flow at $810 million (Q2 2026), -$15 million (Q1 2026) and $909 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 91.50 Bn | 86.14 Bn | 2.38 Bn | 1.22 Bn |
| 2 | Johnson Controls International | 83.63 Bn | 81.11 Bn | 2.71 Bn | 1.08 Bn |
| 3 | Carrier Global | 44.36 Bn | 39.10 Bn | 1.90 Bn | 674.00 Mn |
| 4 | Comfort Systems Usa | 38.92 Bn | 32.88 Bn | 934.48 Mn | 799.53 Mn |
| 5 | Otis Worldwide | 29.51 Bn | 26.06 Bn | 1.16 Bn | 298.00 Mn |
| 6 | Masco | 16.33 Bn | 14.40 Bn | 720.00 Mn | 332.00 Mn |
| 7 | Allegion | 16.19 Bn | 14.81 Bn | 548.20 Mn | 278.60 Mn |
| 8 | James Hardie Industries | 16.17 Bn | 15.36 Bn | 562.40 Mn | 281.20 Mn |
| 9 | Carlisle Companies | 15.38 Bn | 12.28 Bn | 494.90 Mn | 277.30 Mn |
| 10 | Madison Air Solutions | 12.50 Bn | 9.16 Bn | 422.70 Mn | 157.90 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 674.00 Mn |
| Jun 30, 2026 | 810.00 Mn |
| Mar 31, 2026 | -15.00 Mn |
| Dec 31, 2025 | 909.00 Mn |
| Sep 30, 2025 | 224.00 Mn |
| Jun 30, 2025 | 563.00 Mn |
| Mar 31, 2025 | 425.00 Mn |
| Dec 31, 2024 | 146.00 Mn |
| Sep 30, 2024 | 416.00 Mn |
| Jun 30, 2024 | 547.00 Mn |
| Mar 31, 2024 | -57.00 Mn |
| Dec 31, 2023 | 840.00 Mn |
| Sep 30, 2023 | 968.00 Mn |
| Jun 30, 2023 | 310.00 Mn |
| Mar 31, 2023 | 50.00 Mn |
| Dec 31, 2022 | 1.02 Bn |
| Sep 30, 2022 | 699.00 Mn |
| Jun 30, 2022 | -34.00 Mn |
| Mar 31, 2022 | -258.00 Mn |
| Dec 31, 2021 | 775.00 Mn |
API Access
Carrier Global Free Cash Flow API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=free-cash-flow&ticker=CARR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "ticker": "CARR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=free-cash-flow&ticker=CARR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();