Carrier Global (CARR) Operating Margin (2019 - 2026)
Carrier Global's (CARR) quarterly Operating Margin came in at 12.99% in Q2 2026, down 178.0% year-over-year from 16.65% in Q2 2025, and up 167.88% quarter-over-quarter from 4.85% in Q1 2026.
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Carrier Global (CARR) Operating Margin (2019 - 2026) Analysis & Trends
Carrier Global (CARR) has reported Operating Margin for 8 consecutive years, with 12.99% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Margin fell 178.0% year-over-year to 12.99% in Q2 2026; TTM through Jun 2026 was 7.8%, a 586.0% decrease from a year earlier, with the FY2025 full-year figure at 9.99%, down 178.0% from the prior year.
- Operating Margin was 12.99% for Q2 2026 at Carrier Global, up from 4.85% in the prior quarter.
- Over five years, Operating Margin peaked at 37.32% in Q1 2022 and troughed at 4.97% in Q4 2022.
- A 5-year average of 12.51% and a median of 12.34% in 2024 frame the typical range for Operating Margin.
- Across the five-year window, Operating Margin surged 2517 bps in 2022 and tumbled 2714 bps in 2023, its largest moves.
- Over 5 years, Operating Margin stood at 4.97% in 2022, then soared by 351 bps to 12.49% in 2023, then advanced by 20 bps to 15.03% in 2024, then slumped by 86 bps to 2.09% in 2025, then surged by 522 bps to 12.99% in 2026.
- The last three Operating Margin figures came in at 12.99% (Q2 2026), 4.85% (Q1 2026), and 2.09% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 98.27 Bn | 96.95 Bn | 2.26 Bn | 19.27% |
| 2 | Johnson Controls International | 87.97 Bn | 87.32 Bn | 2.47 Bn | 14.92% |
| 3 | Comfort Systems Usa | 56.85 Bn | 55.00 Bn | 844.23 Mn | 17.09% |
| 4 | Carrier Global | 47.99 Bn | 46.64 Bn | 1.94 Bn | 12.99% |
| 5 | Lennox International | 13.02 Bn | 12.97 Bn | 539.50 Mn | 22.97% |
| 6 | Modine Manufacturing | 9.82 Bn | 9.75 Bn | - | - |
| 7 | SPX Technologies | 9.64 Bn | 9.48 Bn | 272.80 Mn | 16.94% |
| 8 | Smith A O | 7.92 Bn | 7.74 Bn | 387.80 Mn | 16.68% |
| 9 | Aaon | 6.32 Bn | 6.32 Bn | 152.49 Mn | 10.99% |
| 10 | Csw Industrials | 4.90 Bn | 4.87 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.99% |
| Mar 31, 2026 | 4.85% |
| Dec 31, 2025 | 2.09% |
| Sep 30, 2025 | 9.66% |
| Jun 30, 2025 | 14.77% |
| Mar 31, 2025 | 12.05% |
| Dec 31, 2024 | 15.03% |
| Sep 30, 2024 | 12.75% |
| Jun 30, 2024 | 12.20% |
| Mar 31, 2024 | 7.10% |
| Dec 31, 2023 | 12.49% |
| Sep 30, 2023 | 10.33% |
| Jun 30, 2023 | 12.56% |
| Mar 31, 2023 | 10.18% |
| Dec 31, 2022 | -4.97% |
| Sep 30, 2022 | 27.99% |
| Jun 30, 2022 | 15.72% |
| Mar 31, 2022 | 37.32% |
| Dec 31, 2021 | 9.02% |
| Sep 30, 2021 | 15.50% |