Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Carrier Global Corporation (CARR) Halal?

PASS

Carrier Global Corporation · NYSE: CARR · Industrials

The short answer

Yes - Carrier Global Corporation (CARR) passes this Shariah stock screen on all three gates. It is an HVAC and refrigeration climate-solutions business across four reportable segments (FY2025 net sales $21,747M) with no alcohol, gambling, tobacco, conventional-finance, pork, or adult-entertainment operations disclosed in its FY2025 10-K; the former Fire & Security segment was fully divested in 2024. Interest-bearing debt of $11,952M is about 26.26% of its ~$45.52B market cap ($55.22, October 2, 2026; 824,325,057 shares), below the ~33% ceiling, and separately disclosed interest income of $94M is about 0.43% of revenue, below the 5% ceiling. Musaffa independently classifies CARR as halal (October 2026). This is a factual screen, not a religious ruling.

Gate 1 — Business activity: PASS

Carrier Global Corporation (NYSE: CARR), headquartered in Palm Beach Gardens, Florida, is a global provider of intelligent climate and energy solutions. Per its FY2025 10-K (Note 21), it operates through four reportable segments: Climate Solutions Americas (heating, cooling and ventilation products, controls, services and solutions for residential and commercial customers in North and South America; $10,470M of FY2025 net sales), Climate Solutions Europe ($5,044M), Climate Solutions Asia Pacific, Middle East & Africa ($3,339M), and Climate Solutions Transportation (global transport refrigeration and monitoring products, services and digital solutions for trucks, trailers, shipping containers, intermodal and rail; $2,894M). FY2025 total net sales were $21,747M. The former Fire & Security segment was fully divested during 2024 (the 10-K notes the sale of the Commercial & Residential Fire business completed December 2, 2024). Haram check (factual, from the filing): the 10-K discloses no alcohol, gambling, tobacco, conventional-finance, pork, adult-entertainment, or weapons operations - the business is HVAC and refrigeration manufacturing and services throughout. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per Carrier's Q2 2026 10-Q (filed July 28, 2026; balance sheet as of June 30, 2026), interest-bearing debt was $11,952M - short-term borrowings and current portion of long-term debt $1,638M plus long-term debt $10,314M. Against a market cap of about $45.52B ($55.22 current price on October 2, 2026 per Finnhub; 824,325,057 shares outstanding per the 10-Q cover page as of July 15, 2026), debt / market cap is about 26.26%, below the ~33% ceiling. Cash and cash equivalents of $1,344M are about 2.95% of market cap. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Carrier's FY2025 10-K (filed February 5, 2026) separately discloses interest income of $94M in its MD&A non-operating income breakdown (interest expense $458M; interest (expense) income, net $(364)M). Against FY2025 net sales of $21,747M, interest income is about 0.43% of revenue - far below the 5% non-compliant income ceiling. This ratio is computed from a primary-filing figure, not an aggregator reconstruction. Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does Carrier Global do?

Carrier Global Corporation (NYSE: CARR), headquartered in Palm Beach Gardens, Florida, is a global provider of intelligent climate and energy solutions. Per its FY2025 10-K (Note 21, Segment Financial Data), it operates through four reportable segments: Climate Solutions Americas (heating, cooling and ventilation products, controls, services and solutions for residential and commercial customers in North and South America; $10,470M of FY2025 net sales), Climate Solutions Europe ($5,044M), Climate Solutions Asia Pacific, Middle East & Africa ($3,339M), and Climate Solutions Transportation (global transport refrigeration and monitoring products, services and digital solutions for trucks, trailers, shipping containers, intermodal and rail; $2,894M). FY2025 total net sales were $21,747M. The former Fire & Security segment was fully divested during 2024 (the 10-K notes the sale of the Commercial & Residential Fire business completed December 2, 2024).

Why does Carrier pass this Shariah stock screen?

Carrier passes this screen on all three gates, based on its own filings. Gate 1 (business activity): all four reportable segments are HVAC and refrigeration climate solutions; the 10-K discloses no alcohol, gambling, tobacco, conventional-finance, pork, or adult-entertainment operations, and the Fire & Security business was divested in 2024. Gate 2 (debt): interest-bearing debt of $11,952M is about 26.26% of its ~$45.5B market cap, below the ~33% ceiling. Gate 3 (non-compliant income): the FY2025 10-K MD&A separately discloses interest income of $94M against net sales of $21,747M - about 0.43% of revenue, below the 5% ceiling. Musaffa independently classifies CARR as halal (October 2026). This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is Carrier's interest-bearing debt ratio?

Per Carrier's Q2 2026 10-Q (filed July 28, 2026; balance sheet as of June 30, 2026), interest-bearing debt was $11,952M - short-term borrowings and current portion of long-term debt $1,638M plus long-term debt $10,314M. Against a market cap of about $45.52B ($55.22 current price on October 2, 2026 per Finnhub; 824,325,057 shares outstanding per the 10-Q cover page as of July 15, 2026), debt / market cap is about 26.26% - below the ~33% ceiling. Cash and cash equivalents of $1,344M are about 2.95% of market cap.

What is Carrier's non-compliant income ratio?

Carrier's FY2025 10-K (filed February 5, 2026) separately discloses interest income of $94M in its MD&A non-operating income breakdown (interest expense was $458M; interest (expense) income, net was $(364)M). Against FY2025 net sales of $21,747M, interest income is about 0.43% of revenue - far below the 5% non-compliant income ceiling. Gate 3 passes on a primary-filing figure, not a reconstruction.

Do Zoya, Musaffa, or ShariaPortfolio cover Carrier?

Zoya covers CARR, but its public page's compliance-status field renders blank - the page template shows conflicting boilerplate with no filled date and no definitive readable rating, so no Zoya rating is reported here. Zoya's page does cite FY2025 revenue of $21,747M and interest income of $169M (0.78% of revenue), which differs from the $94M (0.43%) separately disclosed in Carrier's own FY2025 10-K MD&A; this page uses the filing figure. Musaffa covers CARR as "halal" as of October 2026 under its AAOIFI methodology (musaffa.com/stock/CARR/). No ShariaPortfolio screening page or rating for CARR was found - reported as absent, not invented. This page applies the screen directly from Carrier's own filings and reports these positions honestly.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).