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Carrier Global vs Aaon: CARR and AAON compared
Carrier Global is the larger company: $6.3B of revenue in its latest quarter (Q3 2026) against $627M for Aaon (Q2 2026). Aaon is growing faster (+101% against +12% a year earlier). Aaon is more profitable, with an operating margin of 11.0% against -36.3%.
Where the money goes: CARR and AAON
Carrier Global (CARR) · Q3 2026
Carrier Global, Q3 2026: revenue $6.3B (+12% year over year), operating margin -36.3%, net loss $2.5B, operating cash flow $813M. The chart follows the revenue to costs, profit and cash.
Aaon (AAON) · Q2 2026
Aaon, Q2 2026: revenue $627M (+101% year over year), operating margin 11.0%, net earnings $56.7M, operating cash flow $21.0M. The chart follows the revenue to costs, profit and cash.
| Carrier Global (CARR) | Aaon (AAON) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $6.3B | $627M |
| Revenue growth, Y/Y | +12% | +101% |
| Gross margin | — | 24.3% |
| Operating margin | -36.3% | 11.0% |
| Net earnings | −$2.5B | $56.7M |
| Net margin | -40.6% | 9.0% |
| Operating cash flow | $813M | $21.0M |
| Free cash flow | $674M | — |
| Market value | $43.7B | $4.8B |
| P/E | — | 30.1× |
| Analysts’ mean target | $68.70 | $128.50 |
Where the revenue comes from
Carrier Global
- Product: $5.6B (89%)
- Service: $678M (11%)
Aaon
- AAON Oklahoma: $262M (42%)
- BasX: $218M (35%)
- AAON Coil Products: $147M (23%)
Questions
Which is bigger, Carrier Global or Aaon?
Carrier Global is the larger company: $6.3B of revenue in its latest quarter (Q3 2026) against $627M for Aaon (Q2 2026).
Is Carrier Global or Aaon growing faster?
Aaon is growing faster (+101% against +12% a year earlier).
Which is more profitable, Carrier Global or Aaon?
Aaon is more profitable, with an operating margin of 11.0% against -36.3%.
More: Carrier Global earnings · how Carrier Global makes money · Aaon earnings · how Aaon makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Aug 10, 2026). Fiscal quarters can end on different dates. Not investment advice.