Global climate solutions
Carrier Global Corporation
Carrier Global earns revenue from residential and commercial heating and cooling, transport refrigeration equipment, controls, and lifecycle services. Its products move through specialist distributors such as Watsco and installation channels such as The Home Depot, while refrigerants and cloud services are important operating inputs.
CARR Updated Sep 12, 2026 3 AI consumers· 3 recurring
Per the valuechain.wiki graph, Carrier Global Corporation is directly linked to 4 companies (1 supply, 2 revenue, 1 investment relationships) and reaches 48 companies within two hops; the links are backed by 11 dated sources, 5 of them primary filings (as of 2026-09-12).
Financials & Segments
- Total revenue · FY2025 net sales of $21.747 billion
- Segments · Climate Solutions Americas · Climate Solutions Europe · Climate Solutions Asia Pacific, Middle East & Africa · Climate Solutions Transportation
Revenue from
- Watsco, Inc. High confidence· Market share 62% · FY2025 · Carrier products as a share of Watsco's total FY2025 purchases
Watsco purchases Carrier products at scale and distributes them to HVAC contractors. Carrier represented 62% of Watsco's total purchases in FY2025. - Comfort Systems USA, Inc. High confidence
Carrier is a principal manufacturer of chillers and rooftop HVAC units used by Comfort Systems USA in commercial MEP systems, while supplier-specific purchase value and contract terms were not disclosed. - The Home Depot, Inc. Medium confidence
The Home Depot offers installation of Carrier-branded HVAC systems in the United States. Public materials do not disclose the value of Carrier-related sales or their share of Carrier revenue.
Pays to
- Koura Fluorochemicals High confidence
Under a long-term supply agreement, Koura supplies refrigerants across Carrier's HVAC and refrigeration portfolios in North America, Europe, and Asia Pacific. The contract value has not been disclosed.Confirms EN Carrier Global Corporation Published Jan 19, 2021: Koura Fluorochemicals Joins the Carrier Alliance Supplier Program - Amazon Medium confidence
Carrier has migrated legacy systems to AWS and uses AWS services in digital operations spanning factories and product initiatives. Contract spending has not been disclosed.Confirms EN Amazon Web Services Published Jul 20, 2021: Amazon Web Services-led Hackathon Sparks Innovation at Carrier
Investors
- Honeywell Technologies High confidence· Amount $4.9B · transaction closed 2024-06-03 · Total consideration for the Global Access Solutions acquisition, net of cash acquired, per Honeywell FY2025 Form 10-K
Carrier Global sold its Global Access Solutions business to Honeywell in June 2024, bringing LenelS2, Onity, and Supra into Honeywell's Building Automation business, for an announced deal value of $4.95 billion, while Honeywell's FY2025 10-K records $4.913 billion of total consideration net of cash acquired and Carrier reports $5.0 billion of cash proceeds.Confirms EN Honeywell Published Jun 3, 2024: Honeywell Completes Acquisition Of Carrier's Global Access Solutions Business And Updates 2024 Outlook
Investments
- Viessmann Climate Solutions High confidence· Contract value $14.2B · 2024-01-02 · Total consideration for the acquisition of Viessmann Climate Solutions
Carrier acquired Viessmann Climate Solutions in January 2024, adding European residential and light-commercial HVAC and heat-pump operations. Carrier's 2025 Form 10-K reports total consideration of $14.2 billion.Confirms EN SEC EDGAR Published Feb 5, 2026: Carrier Global Corporation 2025 Annual Report on Form 10-KMentions KO Samsung Securities Research Center Published Jul 1, 2024: Four Questions for Power: Global Power EquipmentConfirms EN ZEW - Leibniz Centre for European Economic Research Published May 1, 2024: Mergers and Acquisitions in Climate Solutions Manufacturing
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Comfort Systems USA, Inc. | lead1 | +89 | +17 | +79.6 | +106.9 | +120.9 | +72.8 |
| The Home Depot, Inc. | lead1 | +59.5 | -22 | +12.8 | +15 | -9.3 | -4.7 |
| Carrier Global Corporation | node | +45.3 | -22.7 | +41.5 | +20.3 | -21.8 | +14.3 |
| Amazon | benef1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| Honeywell Technologies | benef1 | -0.3 | +4.9 | +0 | +10 | -6.4 | +3.8 |
| SanDisk | benef2 | · | · | · | · | · | +633 |
| Seagate Technology | benef2 | +87.5 | -51.4 | +69.1 | +4.1 | +225.3 | +209.1 |
| Marvell | benef2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +163.4 |
| Wiwynn | benef2 | +24.7 | -22.3 | +206.4 | +3.5 | +64.4 | +120.2 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +86.6 |
| Corning | benef2 | +5.9 | -11.6 | -1.2 | +60.6 | +87.8 | +77.2 |
| Arista Networks | benef2 | +97.9 | -15.6 | +94.1 | +87.7 | +18.5 | +47.9 |
| Occidental Petroleum | benef2 | +67.7 | +119.1 | -4.1 | -15.9 | -14.9 | +47.4 |
| GE Vernova | benef2 | · | · | · | · | +99 | +44.4 |
| Caterpillar | benef2 | +16 | +18.6 | +25.9 | +24.7 | +60.3 | +42.9 |
| FedEx | benef2 | +0.7 | -31.6 | +49.1 | +13.5 | +5.1 | +39.6 |
| Ciena | benef2 | +45.6 | -33.8 | -11.7 | +88.4 | +175.8 | +37.3 |
| Jabil | benef2 | +66.4 | -2.5 | +87.4 | +13.3 | +58.7 | +36.3 |
| Alchip Technologies | benef2 | +14.3 | -8.7 | +365.1 | -18.9 | +0.8 | +36.1 |
| Globalstar | benef2 | +241.2 | +14.7 | +45.9 | +6.7 | +96.6 | +34.9 |
| Eaton | benef2 | +46.7 | -7.2 | +56.2 | +39.5 | -2.8 | +30.1 |
| Quanta Computer | benef2 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +28.5 |
| Digital Realty | benef2 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +23.4 |
| Schneider Electric | benef2 | +25.9 | +1.6 | +25.8 | +36.1 | +0.5 | +20.7 |
| Foxconn (Hon Hai) | benef2 | -5.1 | +2.8 | +7.8 | +80.1 | +26.9 | +19.6 |
| Credo Technology | benef2 | · | · | +46.3 | +245.2 | +114.1 | +18.5 |
| ABB | benef2 | +23.9 | +7.3 | +18.9 | +39 | +36.1 | +18.4 |
| Entergy | benef2 | +17.1 | +3.6 | -6.1 | +56 | +25.3 | +18.2 |
| Norfolk Southern | benef2 | +27.3 | -15.6 | -1.6 | +1.6 | +25.6 | +15.6 |
| Colgate-Palmolive Company | benef2 | +2.1 | -5.4 | +3.8 | +16.6 | -11 | +14.4 |
| Cummins | benef2 | -1.7 | +14.1 | +1.7 | +48.9 | +49.4 | +11 |
| United Parcel Service, Inc. | benef2 | +30 | -16.2 | -6 | -15.9 | -15.9 | +8 |
| NXP Semiconductors | benef2 | +44.8 | -29.2 | +48.4 | -8 | +6.4 | +5.9 |
| Celestica | benef2 | +37.9 | +1.3 | +159.8 | +215.2 | +220.3 | +5.7 |
| Procter & Gamble | benef2 | +20.5 | -5 | -0.9 | +17.3 | -12.3 | +4.5 |
| Amorepacific | benef2 | -30.1 | -5.7 | -18.4 | +9.9 | +8.2 | +4.1 |
| Exelon | benef2 | +41.5 | +8.3 | -14 | +9.2 | +20 | +1.9 |
| Vistra | benef2 | +19.6 | +5.1 | +70.7 | +261.5 | +17.7 | -7.2 |
| Fabrinet | benef2 | +52.7 | +8.2 | +48.4 | +15.5 | +107.1 | -10.5 |
| IonQ | benef2 | · | -79.3 | +259.1 | +237.1 | +7.4 | -11.9 |
| Abbott Laboratories | benef2 | +30.5 | -20.7 | +2.3 | +4.8 | +12.9 | -11.9 |
| Talen Energy | benef2 | · | · | · | +214.8 | +86.1 | -15.4 |
| Quantum Computing Inc | benef2 | -75.8 | -55.7 | -39.5 | +1712.7 | -38 | -21.9 |
| D-Wave Quantum | benef2 | · | -85.3 | -38.9 | +854.5 | +211.3 | -36.6 |
| Nike | benef2 | +18.7 | -29 | -6 | -29.1 | -13.8 | -38.1 |
YTD as of 2026-09-04 · source: Yahoo Finance
Carrier Global Corporation operates across Global climate solutions. It is +14.3% in 2026. Demand side (avg +34.1%), the stock (+14.3%) and supply side (avg +12%) are moving in step. Propagation has completed a lap, so the next leg depends on individual results more than chain direction. Among connected nodes the furthest ahead is Comfort Systems USA, Inc. (+72.8%) and the furthest behind is The Home Depot, Inc. (-4.7%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. Its products move through specialist distributors such as Watsco and installation channels such as The Home Depot, while refrigerants and cloud services are important operating inputs.
Analysis generated from returns as of 2026-09-04