This page shows Trane Technologies Plc (TT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Trane Technologies Plc has an operating margin of 18.6%, meaning the company retains $19 of operating profit per $100 of revenue. This results in a moderate score of 64/100, indicating healthy but not exceptional operating efficiency. This is up from 17.6% the prior year.
Trane Technologies Plc's revenue grew 7.5% year-over-year to $21.3B, a solid pace of expansion. This earns a growth score of 46/100.
Trane Technologies Plc carries a low D/E ratio of 0.46, meaning only $0.46 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 93/100, indicating a strong balance sheet with room for future borrowing.
Trane Technologies Plc's current ratio of 1.25 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 20/100, which could limit financial flexibility.
Trane Technologies Plc has a free cash flow margin of 13.2%, earning a moderate score of 58/100. The company generates positive cash flow after capital investments, but with room for improvement.
Trane Technologies Plc earns a strong 34.0% return on equity (ROE), meaning it generates $34 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 87/100. This is down from 34.4% the prior year.
Trane Technologies Plc scores 6.56, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($89.4B) relative to total liabilities ($12.8B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Trane Technologies Plc passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Trane Technologies Plc generates $1.09 in operating cash flow ($3.2B OCF vs $2.9B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Trane Technologies Plc earns $17.5 in operating income for every $1 of interest expense ($4.0B vs $226.7M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Trane Technologies Plc generated $21.3B in revenue in fiscal year 2025. This represents an increase of 7.5% from the prior year.
Trane Technologies Plc's EBITDA was $4.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 12.0% from the prior year.
Trane Technologies Plc reported $2.9B in net income in fiscal year 2025. This represents an increase of 13.7% from the prior year.
Cash & Balance Sheet
Trane Technologies Plc generated $2.8B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 1.3% from the prior year.
Trane Technologies Plc held $1.8B in cash against $3.9B in long-term debt as of fiscal year 2025.
Trane Technologies Plc had 221M shares outstanding in fiscal year 2025. This represents a decrease of 1.3% from the prior year.
Margins & Returns
Trane Technologies Plc's operating margin was 18.6% in fiscal year 2025, reflecting core business profitability. This is up 1.0 percentage points from the prior year.
Trane Technologies Plc's net profit margin was 13.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.8 percentage points from the prior year.
Trane Technologies Plc's ROE was 34.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.4 percentage points from the prior year.
Capital Allocation
Trane Technologies Plc invested $347.6M in research and development in fiscal year 2025. This represents an increase of 12.3% from the prior year.
Trane Technologies Plc spent $1.5B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 15.7% from the prior year.
Trane Technologies Plc invested $383.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 3.3% from the prior year.
TT Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.1B-10.4% | $5.7B-0.1% | $5.7B+22.6% | $4.7B-3.8% | $4.9B-10.4% | $5.4B+2.5% | $5.3B+25.9% | $4.2B |
| Cost of Revenue | N/A | $3.6B+1.1% | $3.6B+19.1% | $3.0B | N/A | $3.5B+2.8% | $3.4B+22.4% | $2.8B |
| Gross Profit | N/A | $2.1B-2.0% | $2.2B+28.8% | $1.7B | N/A | $2.0B+2.0% | $1.9B+32.6% | $1.5B |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $934.9M-1.9% | $952.9M-4.4% | $996.4M+16.0% | $858.6M-4.9% | $903.2M-4.9% | $949.8M+5.4% | $901.3M+9.1% | $826.1M |
| Operating Income | $819.0M-29.7% | $1.2B+0.1% | $1.2B+42.2% | $818.9M+1.4% | $807.5M-21.2% | $1.0B-0.9% | $1.0B+63.2% | $633.8M |
| Interest Expense | $55.6M0.0% | $55.6M-3.1% | $57.4M-1.2% | $58.1M-2.8% | $59.8M-5.1% | $63.0M+9.6% | $57.5M-1.0% | $58.1M |
| Income Tax | $122.8M-47.0% | $231.5M+6.8% | $216.7M+60.6% | $134.9M-0.2% | $135.2M-25.3% | $181.1M-12.0% | $205.8M+95.1% | $105.5M |
| Net Income | $591.3M-30.2% | $847.6M-3.1% | $874.8M+44.6% | $604.9M+0.1% | $604.3M-21.7% | $772.0M+2.2% | $755.3M+73.1% | $436.3M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TT Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $21.4B+0.2% | $21.4B+1.8% | $21.0B+4.3% | $20.1B-0.1% | $20.1B-3.6% | $20.9B+3.5% | $20.2B+4.4% | $19.3B |
| Current Assets | $7.9B0.0% | $7.9B+4.7% | $7.5B+8.2% | $6.9B-5.5% | $7.3B-9.4% | $8.1B+5.0% | $7.7B+12.0% | $6.9B |
| Cash & Equivalents | $1.8B | N/A | N/A | N/A | $1.6B | N/A | N/A | N/A |
| Inventory | $2.1B-10.7% | $2.4B-0.2% | $2.4B+6.3% | $2.2B+12.7% | $2.0B-3.0% | $2.0B-7.7% | $2.2B-7.5% | $2.4B |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $6.5B+0.2% | $6.4B0.0% | $6.4B+1.4% | $6.4B+3.8% | $6.1B-1.4% | $6.2B+2.6% | $6.1B0.0% | $6.1B |
| Total Liabilities | $12.8B-1.6% | $13.0B-0.8% | $13.1B+4.2% | $12.6B-0.5% | $12.7B-4.7% | $13.3B+0.4% | $13.2B+6.4% | $12.4B |
| Current Liabilities | $6.3B-3.6% | $6.5B-4.1% | $6.8B+6.8% | $6.4B+4.9% | $6.1B-8.4% | $6.6B+0.6% | $6.6B+8.0% | $6.1B |
| Long-Term Debt | $3.9B0.0% | $3.9B0.0% | $3.9B0.0% | $3.9B-9.2% | $4.3B0.0% | $4.3B0.0% | $4.3B+8.5% | $4.0B |
| Total Equity | $8.6B+3.0% | $8.3B+6.3% | $7.8B+4.6% | $7.5B+0.5% | $7.5B-1.8% | $7.6B+9.3% | $6.9B+0.8% | $6.9B |
| Retained Earnings | $10.4B+1.0% | $10.3B+5.2% | $9.8B+1.1% | $9.7B-0.9% | $9.8B+1.0% | $9.7B+5.5% | $9.2B+1.0% | $9.1B |
TT Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.2B+15.4% | $1.0B+45.1% | $692.1M+103.9% | $339.5M-62.3% | $899.9M-30.9% | $1.3B+87.2% | $695.9M+181.5% | $247.2M |
| Capital Expenditures | $105.8M+54.7% | $68.4M-23.9% | $89.9M-24.4% | $118.9M-5.3% | $125.6M+42.2% | $88.3M+21.1% | $72.9M-13.0% | $83.8M |
| Free Cash Flow | $1.1B+12.6% | $935.6M+55.4% | $602.2M+173.0% | $220.6M-71.5% | $774.3M-36.2% | $1.2B+94.9% | $623.0M+281.3% | $163.4M |
| Investing Cash Flow | -$85.4M-24.5% | -$68.6M+32.0% | -$100.9M+73.8% | -$385.1M-219.0% | $323.7M+224.5% | -$260.0M+52.3% | -$544.9M-567.0% | -$81.7M |
| Financing Cash Flow | -$438.7M+23.9% | -$576.2M+24.0% | -$757.8M-4.8% | -$723.1M+29.8% | -$1.0B-112.1% | -$485.9M-313.2% | -$117.6M+69.6% | -$386.7M |
| Dividends Paid | $208.2M-0.4% | $209.1M-0.5% | $210.1M+0.1% | $209.9M+11.2% | $188.7M-0.4% | $189.4M-0.3% | $189.9M+0.2% | $189.5M |
| Share Buybacks | $231.3M-37.6% | $370.4M-7.9% | $402.1M-15.8% | $477.5M+34.6% | $354.7M+17.6% | $301.7M-6.9% | $324.1M+7.9% | $300.3M |
TT Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | 36.9%-0.7pp | 37.6%+1.8pp | 35.8% | N/A | 36.3%-0.2pp | 36.5%+1.8pp | 34.6% |
| Operating Margin | 15.9%-4.4pp | 20.3%+0.0pp | 20.3%+2.8pp | 17.5%+0.9pp | 16.6%-2.3pp | 18.8%-0.7pp | 19.5%+4.5pp | 15.0% |
| Net Margin | 11.5%-3.3pp | 14.8%-0.5pp | 15.2%+2.3pp | 12.9%+0.5pp | 12.4%-1.8pp | 14.2%-0.0pp | 14.2%+3.9pp | 10.3% |
| Return on Equity | 6.9%-3.3pp | 10.2%-1.0pp | 11.2%+3.1pp | 8.1%-0.0pp | 8.1%-2.1pp | 10.2%-0.7pp | 10.9%+4.5pp | 6.3% |
| Return on Assets | 2.8%-1.2pp | 4.0%-0.2pp | 4.2%+1.2pp | 3.0%0.0pp | 3.0%-0.7pp | 3.7%-0.1pp | 3.7%+1.5pp | 2.3% |
| Current Ratio | 1.25+0.0 | 1.20+0.1 | 1.10+0.0 | 1.09-0.1 | 1.21-0.0 | 1.22+0.1 | 1.17+0.0 | 1.13 |
| Debt-to-Equity | 0.46-0.0 | 0.47-0.0 | 0.50-0.0 | 0.52-0.1 | 0.58+0.0 | 0.57-0.1 | 0.62+0.0 | 0.58 |
| FCF Margin | 20.5%+4.2pp | 16.3%+5.8pp | 10.5%+5.8pp | 4.7%-11.2pp | 15.9%-6.4pp | 22.3%+10.6pp | 11.7%+7.9pp | 3.9% |
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Frequently Asked Questions
What is Trane Technologies Plc's annual revenue?
Trane Technologies Plc (TT) reported $21.3B in total revenue for fiscal year 2025. This represents a 7.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Trane Technologies Plc's revenue growing?
Trane Technologies Plc (TT) revenue grew by 7.5% year-over-year, from $19.8B to $21.3B in fiscal year 2025.
Is Trane Technologies Plc profitable?
Yes, Trane Technologies Plc (TT) reported a net income of $2.9B in fiscal year 2025, with a net profit margin of 13.7%.
What is Trane Technologies Plc's EBITDA?
Trane Technologies Plc (TT) had EBITDA of $4.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Trane Technologies Plc have?
As of fiscal year 2025, Trane Technologies Plc (TT) had $1.8B in cash and equivalents against $3.9B in long-term debt.
What is Trane Technologies Plc's operating margin?
Trane Technologies Plc (TT) had an operating margin of 18.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Trane Technologies Plc's net profit margin?
Trane Technologies Plc (TT) had a net profit margin of 13.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Trane Technologies Plc's return on equity (ROE)?
Trane Technologies Plc (TT) has a return on equity of 34.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Trane Technologies Plc's free cash flow?
Trane Technologies Plc (TT) generated $2.8B in free cash flow during fiscal year 2025. This represents a 1.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Trane Technologies Plc's operating cash flow?
Trane Technologies Plc (TT) generated $3.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Trane Technologies Plc's total assets?
Trane Technologies Plc (TT) had $21.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Trane Technologies Plc's capital expenditures?
Trane Technologies Plc (TT) invested $383.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Trane Technologies Plc spend on research and development?
Trane Technologies Plc (TT) invested $347.6M in research and development during fiscal year 2025.
What is Trane Technologies Plc's current ratio?
Trane Technologies Plc (TT) had a current ratio of 1.25 as of fiscal year 2025, which is considered adequate.
What is Trane Technologies Plc's debt-to-equity ratio?
Trane Technologies Plc (TT) had a debt-to-equity ratio of 0.46 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Trane Technologies Plc's return on assets (ROA)?
Trane Technologies Plc (TT) had a return on assets of 13.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Trane Technologies Plc's Altman Z-Score?
Trane Technologies Plc (TT) has an Altman Z-Score of 6.56, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Trane Technologies Plc's Piotroski F-Score?
Trane Technologies Plc (TT) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Trane Technologies Plc's earnings high quality?
Trane Technologies Plc (TT) has an earnings quality ratio of 1.09x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Trane Technologies Plc cover its interest payments?
Trane Technologies Plc (TT) has an interest coverage ratio of 17.5x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Trane Technologies Plc?
Trane Technologies Plc (TT) scores 61 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.