Trane Technologies plc

TT · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$86,301	$83,113	$55,501	$38,712	$47,990	$34,481	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	$5,626	$5,324	$5,084	$6,995	$6,001	$5,131	$3,712	$3,062	$2,587	$3,097	$2,353	$2,208	$1,501	$2,105	$1,377	$1,405	$867	$865
Enterprise value	$89,174	$86,937	$59,207	$42,345	$50,690	$36,483	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	$8,647	$8,778	$8,657	$9,879	$8,950	$8,607	$4,968	$4,556	$2,984	$3,537	$2,638	$2,447	$2,034	$2,355	$1,560	$1,604	$1,167	$1,318
P/E (TTM) at period end	29.57×	32.37×	27.42×	22.04×	33.72×	40.33×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	21.63×	7.60×	11.83×	11.79×	13.48×	10.37×	11.33×	12.26×	21.74×	–	14.66×	8.10×	10.41×	8.52×	13.02×	8.62×	10.86×
P/S (TTM) at period end	4.05×	4.19×	3.14×	2.42×	3.39×	2.77×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.63×	0.62×	0.60×	0.89×	0.80×	0.82×	0.55×	0.53×	0.57×	0.77×	0.62×	0.62×	0.40×	0.61×	0.46×	0.53×	0.31×	0.33×
P/B at period end	10.06×	11.14×	7.93×	6.36×	7.67×	5.38×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.62×	1.36×	1.45×	2.27×	2.22×	2.19×	1.78×	1.71×	1.69×	2.29×	1.82×	1.35×	0.96×	1.43×	1.11×	1.24×	0.78×	0.82×
EV / EBITDA (TTM)	20.53×	22.41×	18.26×	15.44×	21.82×	19.97×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	10.18×	11.83×	7.21×	7.31×	7.26×	9.40×	5.61×	6.74×	5.86×	8.52×	9.04×	6.40×	4.47×	5.33×	–	–	–	–
EV / Sales (TTM)	4.18×	4.38×	3.35×	2.65×	3.59×	2.93×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.97×	1.02×	1.03×	1.26×	1.19×	1.38×	0.74×	0.80×	0.66×	0.88×	0.70×	0.68×	0.54×	0.68×	0.52×	0.61×	0.42×	0.50×
Returns
Return on equity	34.0%	34.4%	28.9%	28.8%	22.8%	13.3%	19.4%	19.0%	18.2%	22.2%	11.4%	15.6%	8.8%	14.3%	5.0%	8.1%	6.4%	(39.4%)	50.2%	19.1%	18.3%	14.5%	14.3%	(5.0%)	6.3%	19.2%	19.2%	18.8%	16.3%	17.1%	15.1%	13.8%	10.6%	(18.1%)	9.2%	11.9%	13.7%	13.0%	9.5%	9.1%	7.5%
Return on invested capital	28.0%	25.0%	21.8%	20.6%	18.4%	14.0%	11.9%	12.0%	16.1%	14.8%	9.0%	12.4%	9.8%	8.0%	0.0%	9.0%	7.3%	(20.7%)	17.5%	16.7%	16.3%	16.3%	11.6%	9.4%	5.7%	8.4%	11.7%	11.3%	7.7%	12.9%	9.5%	12.5%	10.5%	7.0%	9.4%	11.1%	13.6%	14.0%	13.5%	10.0%	8.1%
Dividend yield	1.0%	0.9%	1.2%	1.6%	1.2%	1.5%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	2.0%	2.1%	2.2%	1.5%	1.6%	1.8%	2.3%	2.6%	2.9%	2.4%	–	3.1%	4.5%	3.2%	–	–	–	–
Financial health
Current ratio	1.25×	1.21×	1.13×	1.12×	1.36×	1.59×	1.77×	1.33×	1.27×	1.55×	1.26×	1.56×	1.68×	1.39×	1.28×	1.47×	1.13×	0.98×	2.38×	1.13×	1.33×	1.60×	1.16×	1.08×	1.07×	0.76×	1.65×	1.50×	1.09×	1.97×	1.76×	1.93×	1.86×	1.82×	2.16×	1.76×	2.37×	2.43×	2.42×	2.03×	2.18×
Debt / equity	0.54×	0.64×	0.68×	0.79×	0.77×	0.82×	0.77×	0.58×	0.57×	0.61×	0.73×	0.71×	0.50×	0.45×	0.53×	0.46×	0.58×	0.77×	0.18×	0.37×	0.37×	0.33×	0.52×	0.93×	0.88×	1.05×	0.85×	0.92×	1.47×	0.63×	0.81×	0.29×	0.39×	0.27×	0.23×	0.37×	0.26×	0.35×	0.33×	0.48×	0.50×
Effective tax rate	19.2%	19.4%	19.4%	17.3%	18.6%	23.0%	17.1%	18.7%	5.7%	16.2%	43.3%	24.3%	22.8%	26.8%	99.3%	22.6%	13.7%	7.0%	21.8%	17.6%	16.1%	14.1%	13.7%	5.2%	(35.9%)	34.1%	35.3%	34.2%	38.0%	37.0%	37.0%	36.0%	35.5%	36.8%	36.0%	35.0%	35.0%	30.0%	33.0%	34.8%	40.0%
Share count
Diluted shares outstanding	225	228	231	235	242	243	244	250	258	262	268	274	298	311	339	340	329	304	295	323	341	351	345	340	333	325	428	331	329	324	320	317	317	313	311	311	321	311	306	306	312

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$22,210	$21,322	$19,838	$17,678	$15,992	$14,136	$12,455	$13,076	$12,344	$14,198	$13,509	$13,301	$12,891	$12,350	$11,988	$14,782	$14,001	$13,009	$13,045	$8,763	$11,409	$10,547	$9,394	$9,876	$8,951	$8,604	$8,412	$7,819	$7,540	$6,239	$6,703	$5,729	$4,508	$4,021	$3,784	$3,586	$3,738	$3,447	$3,021	$2,648	$2,800	$2,637
Cost of revenue	($14,350)	($13,612)	($12,758)	($11,820)	($11,027)	($9,667)	($8,651)	($9,086)	($8,582)	($9,812)	($9,308)	($9,277)	($8,983)	($8,722)	($8,534)	($9,280)	($10,158)	($9,542)	($9,548)	($6,272)	($8,424)	($7,744)	($6,854)	($7,471)	($6,826)	($6,736)	($6,230)	($5,673)	($5,280)	($4,421)	($4,827)	($4,131)	($3,244)	($2,893)	($2,765)	($2,616)	($2,697)	($2,495)	($2,188)	($1,875)	($2,031)	($1,940)
Gross profit	$7,860	$7,710	$7,080	$5,857	$4,965	$4,470	$3,803	$3,990	$3,761	$4,386	$4,201	$4,023	$3,909	$3,628	$3,455	$5,502	$3,843	$3,467	$3,498	$2,491	$2,985	$2,803	$2,540	$2,405	$2,125	$1,868	$2,183	$2,146	$2,260	$1,818	$1,876	$1,598	$1,263	$1,128	$1,018	$970	$1,041	$953	$833	$773	$768	$697
Operating expenses
Research and development	–	($348)	($310)	($252)	($211)	($194)	($165)	($174)	($167)	($211)	($208)	($206)	($212)	($218)	($235)	($218)	($244)	($255)	($201)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($3,875)	($3,743)	($3,580)	($2,963)	($2,546)	($2,446)	($2,271)	($2,320)	($2,249)	($2,721)	($2,598)	($2,532)	($2,504)	($2,523)	($2,383)	($2,395)	($2,680)	($2,687)	($2,309)	($1,433)	($1,544)	($1,441)	($1,419)	($1,538)	($1,440)	($1,454)	($1,147)	($1,052)	($1,200)	($1,079)	($990)	($922)	($753)	($713)	($727)	($588)	($586)	($511)	($471)	($432)	($478)	($422)
Total operating expenses	($3,875)	($3,743)	($3,580)	($2,963)	($2,546)	($2,446)	($2,271)	($2,320)	($2,249)	($2,721)	($2,598)	($2,532)	($2,504)	($2,523)	($2,383)	($5,063)	($2,581)	($2,582)	($6,019)	($1,433)	($1,544)	($1,441)	($1,419)	($1,535)	($1,482)	($1,444)	($1,265)	($1,066)	($1,291)	($1,095)	($1,192)	($1,101)	($886)	($836)	($843)	($696)	($684)	($592)	($548)	($505)	($553)	($494)
Total costs and expenses	($18,225)	($17,354)	($16,338)	($14,784)	($13,573)	($12,113)	($10,922)	($11,406)	($10,832)	($12,532)	($11,906)	($11,809)	($11,487)	($11,246)	($10,916)	($14,343)	($12,740)	($12,124)	($15,566)	($7,705)	($9,968)	($9,185)	($8,273)	($9,006)	($8,308)	($8,181)	($7,494)	($6,739)	($6,571)	($5,516)	($6,019)	($5,232)	($4,130)	($3,730)	($3,609)	($3,313)	($3,380)	($3,086)	($2,736)	($2,379)	($2,584)	($2,434)
Operating income	$3,985	$3,967	$3,500	$2,894	$2,419	$2,023	$1,533	$1,670	$1,512	$1,665	$1,603	$1,492	$1,405	$1,105	$1,072	$439	$1,261	$885	($2,521)	$1,058	$1,441	$1,362	$1,120	$870	$643	$424	$918	$1,080	$969	$724	$684	$497	$377	$292	$175	$273	$357	$361	$286	$269	$215	$203
Earnings
EBITDA	$4,375	$4,344	$3,880	$3,242	$2,742	$2,323	$1,827	$1,959	$1,794	$2,019	$1,955	$1,856	$1,737	$1,439	$1,406	$797	$1,698	$1,307	($2,072)	$1,197	$1,632	$1,558	$1,295	$1,064	$849	$742	$1,201	$1,352	$1,233	$916	$886	$676	$510	$415	$292	$382	$455	$442	–	–	–	–
Interest income	$14	$9	$36	$15	$9	$4	$4	$3	$6	$9	$8	$11	$13	$13	$16	$26	$15	$13	$96	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($220)	($227)	($238)	($234)	($224)	($234)	($249)	($243)	($221)	($216)	($222)	($223)	($225)	($279)	($252)	($278)	($283)	($302)	($243)	($136)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$3,732	$3,679	$3,242	$2,567	$2,172	$1,791	$1,288	$1,399	$1,258	$1,418	$1,741	$1,248	$1,209	$830	$848	$189	$1,011	$594	($2,756)	$938	$1,315	$1,270	$984	$688	$388	$134	$664	$870	$732	$578	$568	$429	$330	$254	$183	$235	$285	$311	$231	$161	$154	$133
Income tax expense	($709)	($706)	($628)	($498)	($376)	($334)	($297)	($239)	($235)	($80)	($282)	($541)	($294)	($189)	($227)	($187)	($228)	($82)	$192	($204)	($232)	($205)	($138)	($94)	($20)	$48	($226)	($307)	($251)	($220)	($210)	($159)	($119)	($90)	($67)	($85)	($100)	($109)	($69)	($53)	($54)	($53)
Net income	$2,949	$2,919	$2,568	$2,024	$1,756	$1,423	$855	$1,411	$1,338	$1,303	$1,476	$665	$932	$619	$1,019	$343	$642	$451	($2,625)	$3,967	$1,032	$1,054	$830	$644	($174)	$246	$669	$591	$509	$380	$358	$270	$211	$142	($234)	$151	$185	$202	$162	$108	$101	$80
Per share
Diluted EPS (GAAP)	$13.20	$12.98	$11.24	$8.77	$7.48	$5.87	$3.52	$5.77	$5.35	$5.05	$5.65	$2.48	$3.40	$2.07	$3.28	$1.01	$1.89	$1.37	($8.73)	$13.43	$3.20	$3.09	$3.47	$1.87	($0.51)	$0.74	$2.06	$1.38	$1.54	$1.16	$1.11	$0.85	$0.67	$0.45	($0.75)	$0.49	$0.60	$0.63	$0.50	$0.33	$0.32	$0.26
Basic EPS (GAAP)	$13.31	$13.09	$11.35	$8.85	$7.55	$5.96	$3.56	$5.84	$5.41	$5.11	$5.70	$2.51	$3.44	$2.11	$3.35	$1.06	$1.98	$1.41	($8.73)	$13.64	$3.23	$3.12	$3.52	$1.88	($0.51)	$0.75	$2.08	$1.81	$1.56	$1.17	$1.11	$0.85	$0.67	$0.46	($0.75)	$0.49	$0.60	$0.63	$0.50	$0.33	$0.32	$0.26
Basic shares outstanding	222	223	226	229	233	239	240	242	247	255	259	265	270	294	304	325	325	321	301	291	320	338	346	343	337	328	323	327	327	327	323	318	317	313	313	311	311	321	311	306	301	312
Margins
Gross margin	35.4%	36.2%	35.7%	33.1%	31.0%	31.6%	30.5%	30.5%	30.5%	30.9%	31.1%	30.2%	30.3%	29.4%	28.8%	37.2%	27.4%	26.6%	26.8%	28.4%	26.2%	26.6%	27.0%	24.4%	23.7%	21.7%	25.9%	27.4%	30.0%	29.1%	28.0%	27.9%	28.0%	28.0%	26.9%	27.0%	27.8%	27.6%	27.6%	29.2%	27.4%	26.4%
Operating margin	17.9%	18.6%	17.6%	16.4%	15.1%	14.3%	12.3%	12.8%	12.2%	11.7%	11.9%	11.2%	10.9%	8.9%	8.9%	3.0%	9.0%	6.8%	(19.3%)	12.1%	12.6%	12.9%	11.9%	8.8%	7.2%	4.9%	10.9%	13.8%	12.9%	11.6%	10.2%	8.7%	8.4%	7.2%	4.6%	7.6%	9.6%	10.5%	9.4%	10.1%	7.7%	7.7%
Net margin	13.3%	13.7%	12.9%	11.4%	11.0%	10.1%	6.9%	10.8%	10.8%	9.2%	10.9%	5.0%	7.2%	5.0%	8.5%	2.3%	4.6%	3.5%	(20.1%)	45.3%	9.0%	10.0%	8.8%	6.5%	(1.9%)	2.9%	8.0%	7.6%	6.8%	6.1%	5.3%	4.7%	4.7%	3.5%	(6.2%)	4.2%	5.0%	5.9%	5.3%	4.1%	3.6%	3.0%

Analyst consensus

Buy27 analysts

Bearish · 1 · Hold · 13 · Bullish · 13

Earnings history

	EPS	Estimate
Q3 2024	$3.37	$3.25	Beat
Q4 2024	$2.61	$2.52	Beat
Q1 2025	$2.45	$2.20	Beat
Q2 2025	$3.88	$3.79	Beat
Q3 2025	$3.88	$3.80	Beat
Q4 2025	$2.86	$2.81	Beat
Q1 2026	$2.63	$2.53	Beat
Q2 2026	$4.31	$4.27	Beat

Peers

Company overview

IPO dateMar 17, 1980

CEODavid S. Regnery

Employees44,000

SectorIndustrials

IndustryIndustrial - Machinery

CountryIE

ExchangeNew York Stock Exchange

Websitewww.tranetechnologies.com

Trane Technologies plc designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, and custom and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps; chillers; coils and condensers; auxiliary power, cold storage, and condensing units; controls contracting and commissioning, decarbonization programs, and gensets; dehumidifiers; energy and water efficiency programs; energy recovery ventilators and power solutions; energy storage; furnaces; home automation; humidifiers; HVAC performance-monitoring products; and indoor air quality assessments and related products for HVAC and transport solutions. The company also provides asset management, building management, bus air purification, bus and rail HVAC, container refrigeration, control, ductless, geothermal, data center and multi-pipe HVAC, package heating and cooling, rail refrigeration, residential air filtration, self and vehicle powered truck refrigeration, temporary heating and cooling, truck refrigeration, unitary, variable refrigerant flow, and trailer refrigeration systems. In addition, it offers industrial process refrigeration, installation contracting, lighting retrofit, medical grade refrigeration, refrigerant reclamation, renewable energy and storage, residential hybrid heating, telematics, thermostats/controls and associated digital, ventilation, and stationary cold storage solutions; packaged rooftop units; rate chambers; residential air filters; thermal energy storage; transport heater products; temperature freezers; energy infrastructure programs and management, repair and maintenance, smart and AI-enabled, and rental services; water source heat pumps; and aftermarket and OEM parts and supplies. The company was formerly known as Ingersoll-Rand Plc and changed its name to Trane Technologies plc in March 2020. The company was founded in 1885 and is headquartered in Swords, Ireland.

Athenic provides research and information tools for educational purposes only and is not a registered investment adviser or broker-dealer. Nothing on this page is investment advice or a recommendation to buy or sell any security. Market data may be delayed. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal.