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Carrier Global total debt 2017–2026What is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.
Carrier Global's total debt was 11.88B USD on 30 September 2026, down 3.8% on a year before. At the end of fiscal year 2025 it was 12.67B USD.
Last updated 9 Nov 2026 · Next report 4 Feb 2027
Total debt
Growth
| Fiscal year | Period ending | Total debt | Growth | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Latest quarter | 30 Sept 2026 | 11.88B | -3.76% | 1.35B | -10.52B | 1.18 |
| FY2025 | 31 Dec 2025 | 12.67B | -0.32% | 1.56B | -11.11B | 0.92 |
| FY2024 | 31 Dec 2024 | 12.71B | -13.10% | 3.97B | -8.74B | 0.90 |
| FY2023 | 31 Dec 2023 | 14.63B | +56.08% | 9.85B | -4.77B | 1.69 |
| FY2022 | 31 Dec 2022 | 9.37B | -8.33% | 3.52B | -5.85B | 1.21 |
| FY2021 | 31 Dec 2021 | 10.22B | -7.32% | 2.99B | -7.24B | 1.51 |
| FY2020 | 31 Dec 2020 | 11.03B | +1,517.30% | 3.12B | -7.92B | 1.76 |
| FY2019 | 31 Dec 2019 | 682.00M | +137.63% | 952.00M | 270.00M | 0.05 |
| FY2018 | 31 Dec 2018 | 287.00M | +81.65% | 1.13B | 842.00M | 0.02 |
| FY2017 | 31 Dec 2017 | 158.00M | — | 1.32B | 1.17B | 0.01 |
| Quarter | Period ending | Total debt | Growth on a year before | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 11.88B | -3.76% | 1.35B | -10.52B | 1.18 |
| Q2 FY2026 | 30 Jun 2026 | 12.39B | +4.27% | 1.34B | -11.05B | 0.94 |
| Q1 FY2026 | 31 Mar 2026 | 12.57B | +8.19% | 1.37B | -11.20B | 0.93 |
| Q4 FY2025 | 31 Dec 2025 | 12.67B | -1.37% | 1.56B | -11.11B | 0.92 |
| Q3 FY2025 | 30 Sept 2025 | 12.34B | -4.17% | 1.42B | -10.92B | 0.85 |
| Q2 FY2025 | 30 Jun 2025 | 11.89B | -14.01% | 1.80B | -10.09B | 0.81 |
| Q1 FY2025 | 31 Mar 2025 | 11.62B | -33.21% | 1.70B | -9.92B | 0.84 |
| Q4 FY2024 | 31 Dec 2024 | 12.85B | -12.18% | 3.97B | -8.88B | 0.91 |
| Q3 FY2024 | 30 Sept 2024 | 12.88B | +39.21% | 2.23B | -10.65B | 0.88 |
| Q2 FY2024 | 30 Jun 2024 | 13.82B | +49.05% | 2.92B | -10.90B | 1.00 |
| Q1 FY2024 | 31 Mar 2024 | 17.40B | +85.98% | 1.31B | -16.09B | 1.51 |
| Q4 FY2023 | 31 Dec 2023 | 14.63B | +56.08% | 9.85B | -4.77B | 1.69 |
| Q3 FY2023 | 30 Sept 2023 | 9.25B | -1.63% | 3.90B | -5.35B | 1.13 |
| Q2 FY2023 | 30 Jun 2023 | 9.27B | +2.40% | 3.21B | -6.07B | 1.16 |
| Q1 FY2023 | 31 Mar 2023 | 9.36B | +3.36% | 3.35B | -6.01B | 1.15 |
| Q4 FY2022 | 31 Dec 2022 | 9.37B | -8.33% | 3.52B | -5.85B | 1.21 |
| Q3 FY2022 | 30 Sept 2022 | 9.40B | -7.84% | 2.99B | -6.42B | 1.31 |
| Q2 FY2022 | 30 Jun 2022 | 9.06B | -12.58% | 3.02B | -6.04B | 1.35 |
| Q1 FY2022 | 31 Mar 2022 | 9.05B | -12.55% | 3.60B | -5.45B | 1.27 |
| Q4 FY2021 | 31 Dec 2021 | 10.22B | -7.32% | 2.99B | -7.24B | 1.51 |
| Q3 FY2021 | 30 Sept 2021 | 10.20B | -19.34% | 2.67B | -7.53B | 1.48 |
| Q2 FY2021 | 30 Jun 2021 | 10.36B | -18.53% | 2.63B | -7.73B | 1.53 |
| Q1 FY2021 | 31 Mar 2021 | 10.35B | -13.42% | 2.60B | -7.75B | 1.60 |
| Q4 FY2020 | 31 Dec 2020 | 11.03B | +1,517.30% | 3.12B | -7.92B | 1.76 |
| Q3 FY2020 | 30 Sept 2020 | 12.65B | — | 3.85B | -8.80B | 2.48 |
| Q2 FY2020 | 30 Jun 2020 | 12.72B | — | 2.70B | -10.01B | 3.16 |
| Q1 FY2020 | 31 Mar 2020 | 11.96B | — | 768.00M | -11.19B | 4.43 |
| Q4 FY2019 | 31 Dec 2019 | 682.00M | — | 952.00M | 270.00M | 0.05 |
| Q1 FY2019 | 31 Mar 2019 | 0.00 | — | 1.13B | 1.13B | 0.00 |
Figures in USD at the end of each period. Net cash is cash and short-term investments less total debt; book value per share is on the diluted share count. The latest column is the most recent quarter.
Total debt counts commercial paper, term debt and lease liabilities.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Free cash flow,Stock buybacks,Balance sheet
Common questions about Carrier Global's debt
Source: Financial Modeling PrepVerified against SEC filings