Carrier Global (CARR) Gross Margin (2019 - 2026)
Carrier Global (CARR) recorded Gross Margin of 30.35% in Q3 2026, up 0.19 percentage points from 30.17% a year earlier but down 0.24 percentage points from the prior quarter.
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Analysis
Carrier Global (CARR) Gross Margin (2019 - 2026) Analysis & Trends
On a TTM basis, Carrier Global's Gross Margin came in at 28.90% as of Sep 30, 2026, up 2.31 percentage points year-over-year; for FY2025, it came in at 30.21%, up 3.61 percentage points from FY2024.
- Annual Gross Margin has a five-year change of +0.94 percentage points (FY2020 to FY2025).
- Across earlier years, Gross Margin came in at 26.60% in FY2024 (-0.64 pp), 27.24% in FY2023 (+2.38 pp), 24.86% in FY2022 (-4.16 pp) and 29.01% in FY2021 (-0.26 pp).
- Quarterly Gross Margin has ranged from 4.06% in Q4 2022 to 32.67% in Q2 2025 over the past five years.
- On a year-over-year basis, Gross Margin rose in four of the last eight quarters, with an average year-over-year change of -0.67 percentage points.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 21.82 percentage points in Q4 2023, against a drop of 22.56 percentage points in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 30.59% (Q2 2026), 28.12% (Q1 2026) and 25.64% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 93.66 Bn | 88.28 Bn | 2.38 Bn | 35.28% |
| 2 | Johnson Controls International | 87.35 Bn | 85.08 Bn | 2.47 Bn | 37.41% |
| 3 | Carrier Global | 43.73 Bn | 38.10 Bn | 1.90 Bn | 30.35% |
| 4 | Comfort Systems Usa | 39.84 Bn | 33.80 Bn | 934.48 Mn | 24.81% |
| 5 | Otis Worldwide | 29.53 Bn | 25.92 Bn | 1.16 Bn | 29.56% |
| 6 | James Hardie Industries | 17.19 Bn | 15.75 Bn | 562.40 Mn | 39.38% |
| 7 | Masco | 16.43 Bn | 14.23 Bn | 720.00 Mn | 36.62% |
| 8 | Allegion | 15.94 Bn | 14.56 Bn | 548.20 Mn | 46.75% |
| 9 | Carlisle Companies | 15.38 Bn | 12.28 Bn | 494.90 Mn | 33.82% |
| 10 | Lennox International | 11.88 Bn | 11.69 Bn | 497.20 Mn | 31.62% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 30.35% |
| Jun 30, 2026 | 30.59% |
| Mar 31, 2026 | 28.12% |
| Dec 31, 2025 | 25.64% |
| Sep 30, 2025 | 30.17% |
| Jun 30, 2025 | 32.67% |
| Mar 31, 2025 | 31.62% |
| Dec 31, 2024 | 10.37% |
| Sep 30, 2024 | 31.78% |
| Jun 30, 2024 | 31.48% |
| Mar 31, 2024 | 30.94% |
| Dec 31, 2023 | 25.88% |
| Sep 30, 2023 | 30.11% |
| Jun 30, 2023 | 18.24% |
| Mar 31, 2023 | 13.79% |
| Dec 31, 2022 | 4.06% |
| Sep 30, 2022 | 27.10% |
| Jun 30, 2022 | 27.77% |
| Mar 31, 2022 | 27.78% |
| Dec 31, 2021 | 26.61% |
API Access
Carrier Global Gross Margin 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=gross-margin&ticker=CARR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=CARR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();