Carrier Global (CARR) Operating Margin (2019 - 2026)
Carrier Global (CARR) recorded Operating Margin of 12.99% in Q2 2026, down 1.78 percentage points from 14.77% a year earlier but up 8.14 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 7.80% as of Jun 30, 2026, down 5.86 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).
- Quarterly Operating Margin has ranged from -4.97% in Q4 2022 to 37.32% in Q1 2022 over the past five years.
- On a year-over-year basis, Operating Margin has declined for four consecutive quarters, with an average year-over-year change of -1.57 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 27.14 percentage points in Q1 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 4.85% (Q1 2026), 2.09% (Q4 2025) and 9.66% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 99.46 Bn | 94.20 Bn | 2.26 Bn | 19.27% |
| 2 | Johnson Controls International | 90.21 Bn | 87.98 Bn | 2.47 Bn | 14.92% |
| 3 | Comfort Systems Usa | 58.39 Bn | 53.64 Bn | 844.23 Mn | 17.09% |
| 4 | Carrier Global | 46.05 Bn | 40.68 Bn | 1.94 Bn | 12.99% |
| 5 | Otis Worldwide | 25.26 Bn | 21.87 Bn | 1.14 Bn | 14.90% |
| 6 | James Hardie Industries | 14.74 Bn | 13.47 Bn | 548.70 Mn | 14.76% |
| 7 | Masco | 13.48 Bn | 11.59 Bn | 868.00 Mn | 23.59% |
| 8 | Allegion | 13.22 Bn | 11.93 Bn | 517.50 Mn | 22.12% |
| 9 | Carlisle Companies | 12.99 Bn | 9.34 Bn | 568.40 Mn | 22.45% |
| 10 | Lennox International | 12.73 Bn | 12.54 Bn | 539.50 Mn | 22.97% |
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% |
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();