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CARRIER GLOBAL vs EvoAir: revenue, profit, margins and growth compared

CARRIER GLOBAL brought in $21.7B of revenue in fiscal 2025, EvoAir $284.7K in fiscal 2025. Revenue changed by -3.3% at CARRIER GLOBAL and -9.5% at EvoAir on the year before, so CARRIER GLOBAL grew faster. CARRIER GLOBAL kept 6.8% of its revenue as net profit, EvoAir -5,138.3%. Free cash flow was $2.1B at CARRIER GLOBAL and -$1.2M at EvoAir.

Side by side, latest fiscal year

CARREVOH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (August 31, 2025)
Revenue$21.7B$284.7K
Revenue growth-3.3%-9.5%
Net income$1.5B-$14.6M
Net margin6.8%-5,138.3%
Free cash flow$2.1B-$1.2M
Free cash flow margin9.8%-413.0%
Earnings per share (diluted)$1.72-$0.55
Cash$1.6B$93.3K
Debt$11.5Bn/a
Price to earnings32.5n/a
Market value$46.1B$625.2M
Dividend yield1.21%n/a
Rank by revenue in sector#30 of 587 · Industrials#569 of 587 · Industrials

Over the years

Revenue
CARR FY2018: $18.9BCARR FY2020: $18.6BCARR FY2020: $17.5BCARR FY2021: $20.6BCARR FY2022: $17.3BCARR FY2023: $19BCARR FY2024: $22.5BCARR FY2025: $21.7BEVOH FY2021: $774.8KEVOH FY2022: $1.2MEVOH FY2023: $388KEVOH FY2024: $314.7KEVOH FY2025: $284.7KFY18FY20FY21FY22FY23FY24FY25
CARR $21.7BEVOH $284.7K
Net income
CARR FY2018: $2.7BCARR FY2020: $2.1BCARR FY2020: $2BCARR FY2021: $1.7BCARR FY2022: $3.5BCARR FY2023: $1.3BCARR FY2024: $5.6BCARR FY2025: $1.5BEVOH FY2019: -$855EVOH FY2019: -$15.7KEVOH FY2020: -$14.4KEVOH FY2021: -$1.1MEVOH FY2022: -$5.2MEVOH FY2023: -$6.1MEVOH FY2024: -$25.9MEVOH FY2025: -$14.6MFY18FY19FY20FY21FY22FY23FY24FY25
CARR $1.5BEVOH -$14.6M
Net margin
CARR FY2018: 14.5%CARR FY2020: 11.4%CARR FY2020: 11.4%CARR FY2021: 8.1%CARR FY2022: 20.4%CARR FY2023: 7.1%CARR FY2024: 24.9%CARR FY2025: 6.8%EVOH FY2021: -140.0%EVOH FY2022: -439.4%EVOH FY2023: -1,561.2%EVOH FY2024: -8,222.8%EVOH FY2025: -5,138.3%FY18FY20FY21FY22FY23FY24FY25
CARR 6.8%EVOH -5,138.3%
Revenue growth
CARR FY2020: -1.6%CARR FY2020: -6.2%CARR FY2021: +18.1%CARR FY2022: -16.1%CARR FY2023: +9.6%CARR FY2024: +18.7%CARR FY2025: -3.3%EVOH FY2022: +53.7%EVOH FY2023: -67.4%EVOH FY2024: -18.9%EVOH FY2025: -9.5%FY20FY21FY22FY23FY24FY25
CARR -3.3%EVOH -9.5%
Free cash flow
CARR FY2018: $1.8BCARR FY2020: $1.8BCARR FY2020: $1.4BCARR FY2021: $1.9BCARR FY2022: $1.4BCARR FY2023: $2.2BCARR FY2024: $44MCARR FY2025: $2.1BEVOH FY2021: -$2.1MEVOH FY2022: -$2.1MEVOH FY2023: -$1.7MEVOH FY2024: -$1.1MEVOH FY2025: -$1.2MFY18FY20FY21FY22FY23FY24FY25
CARR $2.1BEVOH -$1.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about CARRIER GLOBAL and EvoAir

Which is bigger by revenue, CARRIER GLOBAL or EvoAir?

CARRIER GLOBAL is bigger by revenue: $21.7B in fiscal 2025, against $284.7K for EvoAir in fiscal 2025.

Which keeps more of its revenue as profit, CARRIER GLOBAL or EvoAir?

CARRIER GLOBAL had a net margin of 6.8% in fiscal 2025; EvoAir had -5,138.3% in fiscal 2025.

Which grew revenue faster, CARRIER GLOBAL or EvoAir?

In their latest fiscal years revenue changed by -3.3% at CARRIER GLOBAL and -9.5% at EvoAir.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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