Financials · TT

Trane Technologies plc (TT) financials

For the twelve months ended Sep 30, 2026, Trane Technologies plc reported $23.23B of revenue and $3.16B of net income.

Revenue, TTM
$23.23B
Revenue growth, YoY
+10.3%
Net income, TTM
$3.16B
Net income growth, YoY
+7.6%
Net margin
13.6%
Free cash flow, TTM
$3.82B
EPS, diluted, TTM
$14.16
EPS growth, YoY
+9.0%
Total debt
$4.22B
P/E
27.79
P/S
3.79
Market cap
$87.94B
Annual revenue$21.32B
FY2016FY2025
Annual net income$2.92B
FY2016FY2025
Annual free cash flow$2.81B
FY2016FY2025

TT revenue and earnings growth

TT revenueQ3 2026$6.76B

Quarter YoY
+17.7%
QoQ
+6.4%
FY YoY
+7.5%
5Y CAGR
+11.4%
10Y CAGR
+4.8%

TT revenue was $6.76B in fiscal Q3 2026 (ended Sep 30, 2026), up 17.7% from a year earlier and up 6.4% from the prior quarter. For the full fiscal 2025 it was $21.32B, up 7.5% from fiscal 2024. Compound annual growth was +11.4% over 5 years and +4.8% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

TT net incomeQ3 2026$1.05B

Quarter YoY
+23.7%
QoQ
+12.1%
FY YoY
+13.7%
5Y CAGR
+27.8%
10Y CAGR
+15.9%

TT net income was $1.05B in fiscal Q3 2026 (ended Sep 30, 2026), up 23.7% from a year earlier and up 12.1% from the prior quarter. For the full fiscal 2025 it was $2.92B, up 13.7% from fiscal 2024. Compound annual growth was +27.8% over 5 years and +15.9% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

TT EPSQ3 2026$4.74

Quarter YoY
+25.4%
QoQ
+13.9%
FY YoY
+15.5%
5Y CAGR
+29.8%
10Y CAGR
+18.0%

TT diluted EPS was $4.74 in fiscal Q3 2026 (ended Sep 30, 2026), up 25.4% from a year earlier and up 13.9% from the prior quarter. For the full fiscal 2025 it was $12.98, up 15.5% from fiscal 2024. Compound annual growth was +29.8% over 5 years and +18.0% over 10 years.

TT free cash flowQ3 2026$1.21B

Quarter YoY
+28.8%
QoQ
+19.2%
FY YoY
+1.3%
5Y CAGR
+16.9%
10Y CAGR
+16.0%

TT free cash flow was $1.21B in fiscal Q3 2026 (ended Sep 30, 2026), up 28.8% from a year earlier and up 19.2% from the prior quarter. For the full fiscal 2025 it was $2.81B, up 1.3% from fiscal 2024. Compound annual growth was +16.9% over 5 years and +16.0% over 10 years. It rose in 6 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

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Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$21.32B$19.84B$17.68B$15.99B$14.14B$12.45B$13.08B$12.34B$14.20B$13.51B
Cost of revenue-----$8.65B$9.09B$8.58B$9.81B$9.31B
Gross profit-----$3.80B$3.99B$3.76B$4.39B$4.20B
Research and development$347.60M$309.60M$252.30M$211.20M$193.50M$165.00M$174.20M$166.70M$210.80M$207.90M
Selling, general and admin$3.74B$3.58B$2.96B$2.55B$2.45B$2.27B$2.32B$2.25B$2.72B$2.60B
Operating income$3.97B$3.50B$2.89B$2.42B$2.02B$1.53B$1.67B$1.51B$1.67B$1.60B
Interest expense$226.70M$238.40M$234.50M$223.50M$233.70M$248.70M$242.80M$221.00M$215.80M$221.50M
Pre-tax income$3.68B$3.24B$2.57B$2.17B$1.79B$1.29B$1.40B$1.26B$1.42B$1.74B
Income tax$705.90M$627.60M$498.40M$375.90M$333.50M$296.80M$238.60M$234.90M$80.20M$281.50M
Net income$2.92B$2.57B$2.02B$1.76B$1.42B$854.90M$1.41B$1.34B$1.30B$1.48B
EPS, basic$13.09$11.35$8.85$7.55$5.96$3.56$5.84$5.41$5.11$5.70
EPS, diluted$12.98$11.24$8.77$7.48$5.87$3.52$5.77$5.35$5.05$5.65
Diluted shares224.9M228.4M230.7M234.9M242.3M243.1M244.4M250.1M258.1M261.7M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$1.76B$1.59B$1.10B$1.22B$2.16B$3.29B$1.28B$878.40M$1.52B$1.71B
Receivables$3.24B$3.09B$2.96B$2.78B$2.43B$2.20B$2.18B$2.68B$2.48B$2.22B
Inventory$2.10B$1.97B$2.15B$1.99B$1.53B$1.19B$1.28B$1.68B$1.56B$1.39B
Current assets$7.86B$7.34B$6.87B$6.38B$6.47B$6.91B$9.29B$5.73B$6.12B$5.58B
Goodwill$6.46B$6.13B$6.10B$5.50B$5.50B$5.34B$5.13B$5.10B$5.94B$5.66B
Total assets$21.42B$20.15B$19.39B$18.08B$18.06B$18.16B$20.49B$17.91B$18.17B$17.40B
Current liabilities$6.29B$6.07B$6.05B$5.69B$4.75B$4.34B$5.24B$4.32B$4.83B$3.59B
Short-term debt$693.00M$452.20M$801.90M$1.05B$350.40M$775.60M$650.30M$350.60M$1.11B$360.80M
Long-term debt$3.92B$4.32B$3.98B$3.79B$4.49B$4.50B$4.92B$3.74B$2.96B$3.71B
Total debt$4.62B$4.77B$4.78B$4.84B$4.84B$5.27B$5.57B$4.09B$4.06B$4.07B
Total liabilities$12.82B$12.66B$12.37B$11.98B$11.79B$11.73B$13.18B$10.85B$10.97B$10.68B
Shareholders' equity$8.58B$7.49B$7.02B$6.11B$6.27B$6.43B$7.31B$7.06B$7.21B$6.72B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$3.19B$3.15B$2.39B$1.50B$1.59B$1.44B$1.92B$1.41B$1.52B$1.52B
Capital expenditures$383.00M$370.60M$300.70M$291.80M$223.00M$146.20M$205.40M$284.70M$221.30M$182.70M
Free cash flow$2.81B$2.77B$2.09B$1.21B$1.37B$1.29B$1.71B$1.12B$1.30B$1.34B
Investing cash flow-$640.00M-$562.90M-$1.17B-$540.40M-$545.70M-$376.20M-$1.78B-$629.40M-$374.70M$240.10M
Financing cash flow-$2.50B-$2.02B-$1.35B-$1.85B-$2.13B$884.30M$270.50M-$1.38B-$1.43B-$726.90M
Dividends paid$837.30M$757.50M$683.70M$620.20M$561.10M$507.30M$510.10M$479.50M$430.10M$348.60M
Share repurchases$1.48B$1.28B$669.30M$1.20B$1.10B$250.00M$750.10M$900.20M$1.02B$250.10M
Stock-based compensation$86.60M$82.90M$64.30M$56.30M$66.50M$69.50M$66.40M$78.80M$70.80M-
Depreciation and amortization$376.30M$379.40M$348.10M$323.60M$299.40M$294.30M$288.80M$282.30M$353.30M$352.20M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY7.5%12.2%10.5%13.1%13.5%-4.8%5.9%-13.1%5.1%1.6%
Net income growth, YoY13.7%26.9%15.2%23.4%66.5%-39.4%5.5%2.7%-11.8%122.1%
EPS growth, YoY15.5%28.2%17.2%27.4%66.8%-39.0%7.9%5.9%-10.6%127.8%
Gross margin-----30.5%30.5%30.5%30.9%31.1%
Operating margin18.6%17.6%16.4%15.1%14.3%12.3%12.8%12.2%11.7%11.9%
Net margin13.7%12.9%11.4%11.0%10.1%6.9%10.8%10.8%9.2%10.9%
Free cash flow margin13.2%14.0%11.8%7.6%9.7%10.3%13.1%9.1%9.2%9.9%
Return on equity34.0%34.3%28.8%28.8%22.7%13.3%19.3%18.9%18.1%22.0%
Return on assets13.6%12.7%10.4%9.7%7.9%4.7%6.9%7.5%7.2%8.5%
Current ratio1.251.211.131.121.361.591.771.331.271.55
Debt to equity0.540.640.680.790.770.820.760.580.560.61

Source: XBRL data Trane Technologies plc files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

TT peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
TT$23.23B+10.3%$3.16B13.6%$87.94B
MGA$42.01B-1.9%$829.00M2.0%$16.00B
BWA$14.24B+0.4%$478.00M3.4%$9.80B
ALSN$5.24B+70.8%$583.00M11.1%$9.60B
ALV$11.07B+4.3%$624.00M5.6%$8.89B
APTV$16.71B+4.1%$769.00M4.6%$7.98B
LEA$23.79B+3.5%$584.40M2.5%$5.31B
MOD$3.63B+35.1%$130.20M3.6%$5.14B
GNTX$2.62B+7.7%$396.67M15.1%$4.19B

TT FAQ

8 questions
  • What is TT revenue?
    Trane Technologies plc (TT) reported $23.23B of revenue for the twelve months ended Sep 30, 2026. That is up 10.3% from the year before. Revenue for fiscal 2025 was $21.32B.
  • Is TT profitable?
    Yes. Trane Technologies plc earned $3.16B in net income for the twelve months ended Sep 30, 2026, a net margin of 13.6%.
  • How much cash and debt does TT have?
    Trane Technologies plc reported $4.22B of debt on its most recent balance sheet in SEC filings.
  • How fast is TT revenue growing?
    Trane Technologies plc's revenue changed +7.5% in fiscal 2025, to $21.32B. Its compound annual growth rate was +11.4% over 5 years and +4.8% over 10 years.
  • What is TT free cash flow?
    Trane Technologies plc generated $3.82B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $4.19B less capital expenditures.
  • What is TT earnings per share?
    Diluted earnings per share were $14.16 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did TT last report financial results?
    The latest statements here come from Trane Technologies plc's 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
  • Where does this TT financial data come from?
    Quantisnow builds these statements from the structured XBRL data Trane Technologies plc files with the SEC. It is provided for information only and is not investment advice.