Carrier Global Corp (CARR)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 17,821,000 | 19,299,000 | 17,044,000 | 15,298,000 |
| Revenue | US$ in thousands | 21,458,000 | 21,970,000 | 20,292,000 | 18,281,000 |
| Gross profit margin | 83.05% | 87.84% | 83.99% | 83.68% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $17,821,000K ÷ $21,458,000K
= 83.05%
Carrier Global Corp's gross profit margin has fluctuated over the past five years. In 2023, the gross profit margin increased to 28.88% from 26.76% in 2022, but it remains lower than the levels seen in 2021, 2020, and 2019 at 29.01%, 29.27%, and 29.12%, respectively. This indicates that the company's profitability from its core operations has improved recently but has not yet returned to the levels seen in the prior years. Further analysis of the company's cost structure and pricing strategies may provide insights into the factors influencing the gross profit margin.
Peer comparison
Dec 31, 2023
Company name
Symbol
Gross profit margin
Carrier Global Corp
CARR
83.05%
AAON Inc
AAON
34.29%
Lennox International Inc
LII
31.07%