Carrier Global (CARR) Operating Margin (2019 - 2026)
Carrier Global (CARR) recorded Operating Margin of -36.29% in Q3 2026, down 45.95 percentage points from 9.66% a year earlier and down 49.28 percentage points from the prior quarter.
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Analysis
Carrier Global (CARR) Operating Margin (2019 - 2026) Analysis & Trends
On a TTM basis, Carrier Global's Operating Margin came in at -4.77% as of Sep 30, 2026, down 17.67 percentage points year-over-year; for FY2025, it came in at 9.99%, down 1.78 percentage points from FY2024.
- Annual Operating Margin has a five-year change of -7.67 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 11.77% in FY2024 (+0.37 pp), 11.40% in FY2023 (-11.65 pp), 23.04% in FY2022 (+10.21 pp) and 12.83% in FY2021 (-4.83 pp).
- The Q3 2026 figure is the lowest quarterly Operating Margin in data going back to Q1 2019.
- On a year-over-year basis, Operating Margin has declined for five consecutive quarters, with an average year-over-year change of -7.61 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 25.17 percentage points in Q1 2022, against a drop of 45.95 percentage points in Q3 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 12.99% (Q2 2026), 4.85% (Q1 2026) and 2.09% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 92.23 Bn | 86.85 Bn | 2.38 Bn | 19.87% |
| 2 | Johnson Controls International | 86.24 Bn | 83.97 Bn | 2.47 Bn | 14.92% |
| 3 | Carrier Global | 44.23 Bn | 38.61 Bn | 1.90 Bn | -36.29% |
| 4 | Comfort Systems Usa | 38.60 Bn | 32.55 Bn | 934.48 Mn | 16.58% |
| 5 | Otis Worldwide | 30.22 Bn | 26.61 Bn | 1.16 Bn | 15.84% |
| 6 | James Hardie Industries | 17.38 Bn | 16.31 Bn | 562.40 Mn | 18.44% |
| 7 | Masco | 16.80 Bn | 14.61 Bn | 720.00 Mn | 17.19% |
| 8 | Allegion | 16.08 Bn | 14.71 Bn | 548.20 Mn | 24.27% |
| 9 | Carlisle Companies | 15.53 Bn | 12.43 Bn | 494.90 Mn | 20.04% |
| 10 | Lennox International | 12.05 Bn | 11.87 Bn | 497.20 Mn | 19.85% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -36.29% |
| 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% |
API Access
Carrier Global Operating 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=operating-margin&ticker=CARR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=CARR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();