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Carrier Global CARR CSE — CapEx

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Other financials

Income statement

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Revenue$5.3B+2.4%
Gross profit$1.5B+15.9%
Operating income$259.0M-58.8%
Net income$238.0M-42.2%
EPS (diluted)$0.28-40.4%

Balance sheet

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Cash & equivalents$1.4B-19.3%
Total debt$12.8B+9.6%
Total equity$13.8B-2.8%
Total assets$37.2B+2.0%

Cash flow

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Operating cash flow$79.0M-83.6%
CapEx$94.0M+49.2%
Free cash flow-$15.0M-104%

Valuation

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Market cap$63.12B+4.5%
Enterprise value$74.6B+5.9%
P/E48.2×+37.7×
P/S2.9×+0.2×

Profitability

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Gross margin26.6%-0.6pp
Operating margin8.2%-4.7pp
Net margin6%-19.8pp
FCF margin7.7%

Returns & leverage

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Return on equity9.4%-34.7pp
Debt / equity0.9×+0.1×
Current ratio1.1×-0.2×

Where this comes from

Reported directly by Carrier Global in its filing.

Tagged under the XBRL concept us-gaap:CapitalExpendituresIncurredButNotYetPaid.

The official record: Carrier Global’s 10-K, filed February 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Carrier Global's CSE — capex?
Carrier Global (CARR) reported CSE — capex of $33.75M in Q4 2025.
How has Carrier Global's CSE — capex changed year-over-year?
Carrier Global's CSE — capex decreased by 31.5% year-over-year, from $49.25M to $33.75M.
What is the long-term trend for Carrier Global's CSE — capex?
Over 2 years (2023 to 2025), Carrier Global's CSE — capex has grown at a 46.4% compound annual growth rate (CAGR), from $63M to $135M.
What does CSE — capex mean?
This represents the cash outflows used by the Climate Solutions Europe segment to acquire, upgrade, or maintain physical assets such as manufacturing facilities and machinery. It reflects the segment's commitment to long-term growth, capacity expansion, and technological modernization. High levels of expenditure often indicate a strategy of scaling operations or improving production efficiency.