Carrier Global Corporation (CARR)
Carrier Global makes heating, ventilation, air-conditioning, and refrigeration systems.
CARR vs JCI: how the two businesses compare
- Similar size: JCI and CARR each brought in about $23.6B of yearly revenue.
- More profitable: JCI keeps 14 cents of each sales dollar as profit, against 7 cents at CARR.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Johnson Controls International (JCI) and Carrier Global (CARR) reported similar revenue: $23.6B (fiscal year ended Sep 2025) versus $21.7B (fiscal year ended Dec 2025). CARR's net margin was 6.8% and JCI's 13.9%. Both file with the SEC under the same industry code, SIC 3585 (Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip).
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Industrials
- Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip
- Same classification
- Different
- CARR December 31 · JCI September 30
- Feb 5, 2026
CARR vs JCI: quick comparison
| Company fact | CARR | JCI |
|---|---|---|
| Company | Carrier Global Corporation | Johnson Controls International plc |
| Exchange | NYSE | NYSE |
| SEC industry | Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip | Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip |
| Fiscal year-end | December 31 | September 30 |
| Latest annual filing | 10-K · 2026-02-05 | 10-K · 2025-11-14 |
CARR vs JCI: audited financials
- Scale: revenue is roughly in line ($23.6B for JCI versus $21.7B for CARR).
- Net margin: JCI kept 13.9% of revenue as net income versus 6.8% at CARR.
- Periods: the fiscal years end about 3 months apart (2025-12-31 for CARR, 2025-09-30 for JCI), so each figure reflects somewhat different demand and cost conditions.
| Metric | CARR | JCI |
|---|---|---|
| Revenue | $21.7B2025-01-01 to 2025-12-31 · SEC filing | $23.6B2024-10-01 to 2025-09-30 · SEC filing |
| Net income | $1.5B2025-01-01 to 2025-12-31 · SEC filing | $3.3B2024-10-01 to 2025-09-30 · SEC filing |
| Operating cash flow | $2.5B2025-01-01 to 2025-12-31 · SEC filing | — |
| Diluted EPS | $1.722025-01-01 to 2025-12-31 · SEC filing | $5.032024-10-01 to 2025-09-30 · SEC filing |
| Net margin | 6.8%2025-01-01 to 2025-12-31 · SEC filing | 13.9%2024-10-01 to 2025-09-30 · SEC filing |
CARR: FY ending 2025-12-31 · JCI: FY ending 2025-09-30. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where CARR and JCI overlap, and where they don't
Overlap
- Same SEC industry: both report under SIC 3585, Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip.
- Shared research theme: Economic trends.
Differences
- Offset fiscal calendars: CARR's year ends December 31 and JCI's September 30, about 3 months apart.
- Profitability: net margin of 6.8% for CARR versus 13.9% for JCI.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Johnson Controls International plc (JCI)
Johnson Controls makes building systems for climate control, fire safety, and security.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves CARR
We have not yet published a company-specific driver list for CARR. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-05.
What moves JCI
We have not yet published a company-specific driver list for JCI. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2025-11-14.
The investment question
You now know how CARR and JCI are classified, when their fiscal years end, and where their exposures overlap. Those are the facts. The investment question is what each share price already assumes about their exposure to economic trends, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. CARR's fiscal year ends December 31, while JCI's ends September 30. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 20 matched transaction rows for CARR and 7 matched transaction rows for JCI. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
CARR primary filings
JCI primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving CARR or JCI
CARR vs JCI FAQs
Are CARR and JCI direct competitors?
Carrier Global and Johnson Controls International share the SEC industry classification “Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip.” That makes the operating comparison relevant, but it does not prove that every product, customer, or revenue stream competes directly.
Is CARR or JCI the bigger company by revenue?
Johnson Controls International (JCI) and Carrier Global (CARR) reported similar revenue: $23.6B (fiscal year ended Sep 2025) versus $21.7B (fiscal year ended Dec 2025). CARR's net margin was 6.8% and JCI's 13.9%. Both file with the SEC under the same industry code, SIC 3585 (Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip). Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, CARR or JCI?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this CARR vs JCI comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Carrier Global Corporation and Johnson Controls International plc tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
CARR vs JCI compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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