Carrier Global vs Johnson Controls
Carrier Global and Johnson Controls are similar in size: $21.75bn and $23.60bn of revenue in their latest fiscal years. Johnson Controls grew faster (2.8% against -3.3%). Johnson Controls kept more of each dollar of sales as profit: a net margin of 13.9% against 6.8%. Johnson Controls carries less debt relative to equity (76.7% against 83.8%).
| Latest fiscal year | Carrier GlobalCARR, 2025 | Johnson ControlsJCI, 2025 |
|---|---|---|
| Revenue | $21.75bn | $23.60bn |
| Revenue growth | -3.3% | 2.8% |
| Net income | $1.48bn | $3.29bn |
| Operating margin | 10.0% | — |
| Net margin | 6.8% | 13.9% |
| Return on equity | 10.4% | 22.7% |
| Free cash flow | $2.12bn | $2.12bn |
| Cash | $1.55bn | $379m |
| Total debt | $11.83bn | $9.92bn |
| Debt to equity | 83.8% | 76.7% |
| Dividend per share | $0.68 | $1.51 |
| Dividend yield | 1.7% | 1.1% |
| Share buybacks | $2.89bn | $5.99bn |
| Employees | 47,000 | 87,000 |
| Market value | $45.42bn | $91.59bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 55 (Moderate) | 45 (Moderate) |
| Insider trades, 12 months | 1 buys, 1 sales | 1 buys, 16 sales |