Trane Technologies (TT)

NYSE Industrials Building Products S&P 500

$401.76

+9.33 (+2.38%)

Close of Nov 06, 2026 · end-of-day data

Source: Trane Technologies's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$13.51B	$14.20B	$12.34B	$13.08B	$12.45B	$14.14B	$15.99B	$17.68B	$19.84B	$21.32B
Cost of revenue	$9.31B	$9.81B	$8.58B	$9.09B	$8.65B	—	—	—	—	—
Gross profit	$4.20B	$4.39B	$3.76B	$3.99B	$3.80B	—	—	—	—	—
Research & development	$207.90M	$210.80M	$166.70M	$174.20M	$165.00M	$193.50M	$211.20M	$252.30M	$309.60M	$347.60M
Selling, general & admin	$2.60B	$2.72B	$2.25B	$2.32B	$2.27B	$2.45B	$2.55B	$2.96B	$3.58B	$3.74B
Operating income	$1.60B	$1.67B	$1.51B	$1.67B	$1.53B	$2.02B	$2.42B	$2.89B	$3.50B	$3.97B
Interest expense	$221.50M	$215.80M	$221.00M	$242.80M	$248.70M	$233.70M	$223.50M	$234.50M	$238.40M	$226.70M
Pre-tax income	$1.74B	$1.42B	$1.26B	$1.40B	$1.29B	$1.79B	$2.17B	$2.57B	$3.24B	$3.68B
Income tax	$281.50M	$80.20M	$234.90M	$238.60M	$296.80M	$333.50M	$375.90M	$498.40M	$627.60M	$705.90M
Net income	$1.48B	$1.30B	$1.34B	$1.41B	$854.90M	$1.42B	$1.76B	$2.02B	$2.57B	$2.92B
EBITDA	$1.96B	$2.02B	$1.87B	$2.07B	$1.83B	$2.32B	$2.74B	$3.24B	$3.88B	$4.34B
EPS (basic)	$5.70	$5.11	$5.41	$5.84	$3.56	$5.96	$7.55	$8.85	$11.35	$13.09
EPS (diluted)	$5.65	$5.05	$5.35	$5.77	$3.52	$5.87	$7.48	$8.77	$11.24	$12.98
Diluted shares	261.70M	258.10M	250.10M	244.40M	243.10M	242.30M	234.90M	230.70M	228.40M	224.90M
Gross margin	31.1%	30.9%	30.5%	30.5%	30.5%	—	—	—	—	—
Operating margin	11.9%	11.7%	12.2%	12.8%	12.3%	14.3%	15.1%	16.4%	17.6%	18.6%
Net margin	10.9%	9.2%	10.8%	10.8%	6.9%	10.1%	11.0%	11.4%	12.9%	13.7%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$1.71B	$1.52B	$878.40M	$1.28B	$3.29B	$2.16B	$1.22B	$1.10B	$1.59B	$1.76B
Receivables	$2.22B	$2.48B	$2.68B	$2.18B	$2.20B	$2.43B	$2.78B	$2.96B	$3.09B	$3.24B
Inventory	$1.39B	$1.56B	$1.68B	$1.28B	$1.19B	$1.53B	$1.99B	$2.15B	$1.97B	$2.10B
Total current assets	$5.58B	$6.12B	$5.73B	$9.29B	$6.91B	$6.47B	$6.38B	$6.87B	$7.34B	$7.86B
Goodwill	$5.66B	$5.94B	$5.10B	$5.13B	$5.34B	$5.50B	$5.50B	$6.10B	$6.13B	$6.46B
Total assets	$17.40B	$18.17B	$17.91B	$20.49B	$18.16B	$18.06B	$18.08B	$19.39B	$20.15B	$21.42B
Total current liabilities	$3.59B	$4.83B	$4.32B	$5.24B	$4.34B	$4.75B	$5.69B	$6.05B	$6.07B	$6.29B
Short-term debt	$360.80M	$1.11B	$350.60M	$650.30M	$775.60M	$350.40M	$1.05B	$801.90M	$452.20M	$693.00M
Long-term debt	$3.71B	$2.96B	$3.74B	$4.92B	$4.50B	$4.49B	$3.79B	$3.98B	$4.32B	$3.92B
Total debt	$4.07B	$4.06B	$4.09B	$5.57B	$5.27B	$4.84B	$4.84B	$4.78B	$4.77B	$4.62B
Total liabilities	$10.68B	$10.97B	$10.85B	$13.18B	$11.73B	$11.79B	$11.98B	$12.37B	$12.66B	$12.82B
Shareholders' equity	$6.64B	$7.14B	$7.02B	$7.27B	$6.41B	$6.26B	$6.09B	$7.00B	$7.46B	$8.58B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$1.52B	$1.52B	$1.41B	$1.92B	$1.44B	$1.59B	$1.50B	$2.39B	$3.15B	$3.19B
Capital expenditures	$182.70M	$221.30M	$284.70M	$205.40M	$146.20M	$223.00M	$291.80M	$300.70M	$370.60M	$383.00M
Free cash flow	$1.34B	$1.30B	$1.12B	$1.71B	$1.29B	$1.37B	$1.21B	$2.09B	$2.77B	$2.81B
Investing cash flow	$240.10M	-$374.70M	-$629.40M	-$1.78B	-$376.20M	-$545.70M	-$540.40M	-$1.17B	-$562.90M	-$640.00M
Financing cash flow	-$726.90M	-$1.43B	-$1.38B	$270.50M	$884.30M	-$2.13B	-$1.85B	-$1.35B	-$2.02B	-$2.50B
Dividends paid	$348.60M	$430.10M	$479.50M	$510.10M	$507.30M	$561.10M	$620.20M	$683.70M	$757.50M	$837.30M
Share buybacks	$250.10M	$1.02B	$900.20M	$750.10M	$250.00M	$1.10B	$1.20B	$669.30M	$1.28B	$1.48B
Stock-based compensation	$69.60M	$70.80M	$78.80M	$66.40M	$69.50M	$66.50M	$56.30M	$64.30M	$82.90M	$86.60M
Depreciation & amortization	$352.20M	$353.30M	$361.50M	$397.40M	$294.30M	$299.40M	$323.60M	$348.10M	$379.40M	$376.30M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$4.42B	$4.22B	$5.31B	$5.44B	$4.87B	$4.69B	$5.75B	$5.74B	$5.14B	$4.97B	$6.35B	$6.76B
Cost of revenue	—	$2.76B	$3.37B	$3.47B	—	$3.01B	$3.59B	$3.62B	—	$3.24B	$4.09B	$4.37B
Gross profit	—	$1.46B	$1.94B	$1.97B	—	$1.68B	$2.16B	$2.12B	—	$1.73B	$2.26B	$2.38B
Selling, general & admin	$783.70M	$826.10M	$901.30M	$949.80M	$903.20M	$858.60M	$996.40M	$952.90M	$934.90M	$952.00M	$1.04B	$1.04B
Operating income	$687.60M	$633.80M	$1.03B	$1.02B	$807.60M	$818.90M	$1.16B	$1.17B	$819.00M	$776.10M	$1.22B	$1.34B
Interest expense	$57.40M	$58.10M	$57.50M	$63.00M	$59.90M	$58.10M	$57.40M	$55.60M	$55.60M	$55.60M	$53.10M	$52.40M
Pre-tax income	$614.80M	$550.70M	$972.60M	$967.90M	$750.60M	$752.90M	$1.09B	$1.09B	$741.30M	—	—	$1.29B
Income tax	$98.20M	$105.50M	$205.80M	$181.10M	$135.30M	$134.90M	$216.70M	$231.50M	$122.80M	$136.30M	$218.20M	$219.90M
Net income	$504.30M	$436.30M	$755.30M	$772.00M	$604.30M	$604.90M	$874.80M	$847.60M	$591.30M	$584.40M	$925.70M	$1.05B
EBITDA	$775.50M	$725.30M	$1.13B	$1.12B	$904.30M	$918.00M	$1.26B	$1.25B	$909.80M	$877.20M	$1.33B	$1.45B
EPS (basic)	$2.21	$1.92	$3.33	$3.42	$2.68	$2.70	$3.92	$3.81	$2.67	$2.64	$4.19	$4.77
EPS (diluted)	$2.19	$1.90	$3.30	$3.39	$2.65	$2.67	$3.89	$3.78	$2.65	$2.62	$4.16	$4.74
Diluted shares	-200.00K	229.50M	228.70M	228.00M	-400.00K	226.40M	225.10M	224.40M	-400.00K	223.10M	222.50M	221.40M
Gross margin	—	34.6%	36.5%	36.3%	—	35.8%	37.6%	36.9%	—	34.8%	35.6%	35.3%
Operating margin	15.5%	15.0%	19.5%	18.8%	16.6%	17.5%	20.3%	20.3%	15.9%	15.6%	19.3%	19.9%
Net margin	11.4%	10.3%	14.2%	14.2%	12.4%	12.9%	15.2%	14.8%	11.5%	11.8%	14.6%	15.5%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$1.10B	—	—	—	$1.59B	—	—	—	$1.76B	—	—	—
Receivables	$2.96B	$2.94B	$3.43B	$3.39B	$3.09B	$3.16B	$3.61B	$3.60B	$3.24B	$3.77B	$4.23B	$4.09B
Inventory	$2.15B	$2.38B	$2.20B	$2.03B	$1.97B	$2.22B	$2.36B	$2.36B	$2.10B	$2.40B	$2.62B	$2.60B
Total current assets	$6.87B	$6.89B	$7.71B	$8.10B	$7.34B	$6.93B	$7.51B	$7.86B	$7.86B	$8.00B	$9.01B	$8.71B
Goodwill	$6.10B	$6.06B	$6.06B	$6.21B	$6.13B	$6.36B	$6.45B	$6.44B	$6.46B	$6.96B	$7.03B	$7.08B
Total assets	$19.39B	$19.34B	$20.20B	$20.90B	$20.15B	$20.12B	$20.99B	$21.37B	$21.42B	$22.75B	$23.93B	$23.89B
Total current liabilities	$6.05B	$6.10B	$6.59B	$6.63B	$6.07B	$6.37B	$6.80B	$6.52B	$6.29B	$7.31B	$8.39B	$7.75B
Short-term debt	$801.90M	$902.10M	$952.00M	$952.20M	$452.20M	$851.70M	$694.60M	$694.70M	$693.00M	$693.10M	$693.10M	$293.10M
Long-term debt	$3.98B	$3.98B	$4.32B	$4.32B	$4.32B	$3.92B	$3.92B	$3.92B	$3.92B	$3.92B	$3.92B	$3.92B
Total debt	$4.78B	$4.88B	$5.27B	$5.27B	$4.77B	$4.77B	$4.62B	$4.62B	$4.62B	$4.62B	$4.62B	$4.22B
Total liabilities	$12.37B	$12.43B	$13.23B	$13.29B	$12.66B	$12.60B	$13.14B	$13.03B	$12.82B	$14.14B	$15.28B	$14.76B
Shareholders' equity	$7.00B	$6.89B	$6.95B	$7.59B	$7.46B	$7.49B	$7.83B	$8.33B	$8.58B	$8.59B	$8.62B	$9.11B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$934.80M	$247.20M	$695.90M	$1.30B	$899.90M	$339.50M	$692.10M	$1.00B	$1.16B	$626.20M	$1.09B	$1.31B
Capital expenditures	$83.50M	$83.80M	$72.90M	$88.30M	$125.60M	$118.90M	$89.90M	$68.40M	—	$79.70M	$76.40M	$108.10M
Free cash flow	$851.30M	$163.40M	$623.00M	$1.21B	$774.30M	$220.60M	$602.20M	$935.60M	$1.16B	$546.50M	$1.01B	$1.21B
Investing cash flow	-$436.10M	-$81.70M	-$544.90M	-$260.00M	$323.70M	-$385.10M	-$100.90M	-$68.60M	-$85.40M	-$755.70M	-$146.60M	-$188.00M
Financing cash flow	-$398.20M	-$386.70M	-$117.60M	-$485.90M	-$1.03B	-$723.10M	-$757.80M	-$576.20M	-$438.70M	-$546.00M	-$697.20M	-$1.21B
Dividends paid	$170.70M	$189.50M	$189.90M	$189.40M	$188.70M	$209.90M	$210.10M	$209.10M	$208.20M	$231.50M	$231.70M	$230.50M
Share buybacks	$209.50M	$300.30M	$324.10M	$301.70M	$354.70M	$477.50M	$402.10M	$370.40M	$231.30M	$287.30M	$469.10M	$582.10M
Stock-based compensation	$10.40M	$19.80M	$23.50M	$20.30M	$19.30M	$22.20M	$25.20M	$19.90M	$19.30M	$26.80M	$24.80M	$26.70M
Depreciation & amortization	$87.90M	$91.50M	$96.20M	$95.00M	$96.70M	$99.10M	$98.10M	$88.30M	$90.80M	$101.10M	$110.00M	$105.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.