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TT Trane Technologies plc

NYSEIndustrialsAuto Controls For Regulating Residential & Comml EnvironmentsCo. Dublin, IrelandFY ends December 31

New 8-K: Filed an 8-K current report in the last 7 days.Profitable 5/5: Fiscal years with net income above zero, out of the last five reported.FY2025 10-K filed Feb 5, 2026 (SEC EDGAR)

FY2025 at a glance

Fundamentals from SEC filings, not quotes
Revenue
$21.3BYoYup 7.48%ended Dec 31, 2025
Net income
$2.92B13.7% margin
Diluted EPS
$12.98YoYup 15.48%
Free cash flow
—
Cash
$1.76BNet debt $2.16B
Total debt
$3.92BD/E 0.46×
About Trane Technologies plc

Overview

Trane Technologies plc (TT) is listed on NYSE; the SEC classifies it under "Auto Controls For Regulating Residential & Comml Environments".

For fiscal 2025 (ended Dec 31, 2025) it reported revenue of $21.32B, up 7.5% from fiscal 2024.

Net income was $2.92B, a net margin of 13.7%.

At fiscal year end it had total assets of $21.42B and stockholders' equity of $8.58B (40.1% of assets).

Fiscal years shown
FY2016–FY2025 (10 years)
Latest 10-K
Feb 5, 2026
Latest filing
10-QOct 29, 2026
FY2016–FY2025 · annual 10-K

Charts

Revenue and net income

Revenue and net income, fiscal years FY2016 to FY2025.
PeriodRevenueNet incomeNet margin
FY2016$13.5B$1.48B10.9%
FY2017$14.2B$1.3B9.2%
FY2018$15.7B$1.34B8.5%
FY2019$16.6B$1.41B8.5%
FY2020$12.5B$855M6.9%
FY2021$14.1B$1.42B10.1%
FY2022$16B$1.76B11.0%
FY2023$17.7B$2.02B11.4%
FY2024$19.8B$2.57B12.9%
FY2025$21.3B$2.92B13.7%

Gross, operating and net margin

Gross, operating and net margin, fiscal years FY2016 to FY2025.
PeriodGross marginOperating marginNet margin
FY201630.9%11.6%10.9%
FY201730.9%11.7%9.2%
FY201830.8%12.2%8.5%
FY201931.0%12.2%8.5%
FY202030.5%12.3%6.9%
FY2021—14.3%10.1%
FY2022—15.1%11.0%
FY2023—16.4%11.4%
FY2024—17.6%12.9%
FY2025—18.6%13.7%

Diluted EPS

Diluted EPS, fiscal years FY2016 to FY2025.
PeriodEPS (diluted)
FY2016$5.65
FY2017$5.05
FY2018$5.35
FY2019$5.77
FY2020$3.52
FY2021$5.87
FY2022$7.48
FY2023$8.77
FY2024$11.24
FY2025$12.98

Free cash flow vs net income

Free cash flow vs net income, fiscal years FY2016 to FY2025.
PeriodFree cash flowNet income
FY2016$1.32B$1.48B
FY2017$1.3B$1.3B
FY2018$1.04B$1.34B
FY2019$1.67B$1.41B
FY2020$1.29B$855M
FY2021$1.37B$1.42B
FY2022$1.21B$1.76B
FY2023$2.09B$2.02B
FY2024$2.78B$2.57B
FY2025—$2.92B

Diluted shares

Diluted shares, fiscal years FY2016 to FY2025.
PeriodDiluted shares (weighted)
FY2016262M
FY2017258M
FY2018250M
FY2019244M
FY2020243M
FY2021242M
FY2022235M
FY2023231M
FY2024228M
FY2025225M

Cash vs total debt

Cash vs total debt, fiscal years FY2016 to FY2025.
PeriodCash & equivalentsTotal debt
FY2016$1.71B$3.71B
FY2017$1.55B$2.96B
FY2018$903M$3.74B
FY2019$1.3B$4.92B
FY2020$3.29B$4.5B
FY2021$2.16B$4.49B
FY2022$1.22B$3.79B
FY2023$1.1B$3.98B
FY2024$1.59B$4.32B
FY2025$1.76B$3.92B

Each bar is one fiscal year as reported in its 10-K; bars below the zero line are negative and gaps are years not reported. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

FY2025 · 5-year trend

Ratios

Profitability

Operating margin
18.6%
Net margin
13.7%
FCF margin
—
Return on equity
36.4%
Return on assets
14.0%

Growth

Growth. Compound annual growth: (end ÷ start)^(1 ÷ years) − 1, both ends positive.
Metric1y3y CAGR5y CAGR9y CAGR
Revenueup 7.48%up 10.06%up 11.35%—
EPS (diluted)up 15.48%up 20.17%up 29.82%up 9.68%
Free cash flow————
Change in share count
-1.53%

Financial strength

Current ratio
1.25×
Debt / equity
0.46×
Liabilities / assets
59.8%
Net debt
$2.16B
Interest coverage
17.5×
Equity / assets
40.1%

Shareholder returns

Dividends per share
$3.76
Dividends paid
$837M
Buybacks
$1.48B
Payout ratio
28.7%
Stock comp. / revenue
0.4%
Piotroski F-Score · Altman Z''-Score

Quality screens

Piotroski F-Score

8 of 8 checks passed

FY2025 vs FY2024

Partial: 8 of 9 checks could be computed.

  • PassPositive return on assets14.5%
  • PassPositive operating cash flow$3.19B
  • PassReturn on assets improved14.5% vs 13.2%
  • PassOperating cash flow above net income15.9% vs 14.5%
  • PassLong-term debt / assets fell18.3% vs 21.4%
  • PassCurrent ratio improved1.25× vs 1.21×
  • PassNo increase in share count225M vs 228M
  • —Not computableGross margin improved—
  • PassAsset turnover improved1.06× vs 1.02×

Altman Z''-Score

Safe zone (above 2.60)

FY2025

Altman Z''-Score: Components
ComponentsRatioWeightPoints
Working capital / assets0.074×6.560.48
Retained earnings / assets0.487×3.261.59
Operating income / assets0.185×6.721.24
Equity / liabilities0.669×1.050.70
Z''4.02

Screening heuristic, not a recommendation. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Last 10 fiscal years · newest first

Financial statements

USD millions, except per-share figures (USD). Share counts in millions.

Income statement

Income statement. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Revenue21,32219,83817,67815,99214,13612,45516,59915,66814,19813,509
YoY (Revenue)+7.48%+12.22%+10.54%+13.12%+13.50%-24.97%+5.94%—+5.10%—
Gross profit—————3,8035,1474,8214,3864,180
Research & development348310252211194165237—211208
Selling, general & admin.3,7433,5802,9632,5462,4462,2713,1302,9032,7212,607
Operating income3,9673,5002,8942,4192,0231,5332,0181,9171,6651,573
Interest expense227238235224234249243221216222
Pretax income3,6793,2422,5672,1721,7911,2881,7421,6601,4181,741
Income tax70662849837633429735428180.2282
Net income2,9192,5682,0241,7571,4238551,4111,3381,3031,476
YoY (Net income)+13.66%+26.88%+15.22%+23.40%+66.50%-39.41%+5.48%+2.69%-11.76%—
EPS (basic)13.0911.358.857.555.963.565.845.415.115.70
EPS (diluted)12.9811.248.777.485.873.525.775.355.055.65
YoY (EPS (diluted))+15.48%+28.16%+17.25%+27.43%+66.76%-38.99%+7.85%+5.94%-10.62%—
Diluted shares (weighted)225228231235242243244250258262

Balance sheet

Balance sheet. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Cash & equivalents1,7631,5901,0951,2212,1593,2901,3049031,5491,715
Inventory2,1041,9722,1521,9941,5311,1891,7121,6781,5551,386
Current assets7,8637,3386,8706,3796,4716,9066,2175,7326,1195,579
Goodwill6,4576,1286,0955,5045,5055,3436,7835,9605,9365,658
Intangible assets3,2373,3083,4403,2643,3063,2864,1493,6353,7433,785
Total assets21,42120,14719,39218,08218,06018,15720,49217,91518,17317,397
Current liabilities6,2876,0696,0545,6874,7524,3394,8624,3164,8283,590
Short-term debt———————000
Long-term debt3,9224,3183,9783,7884,4924,4974,9233,7412,9573,709
Total liabilities12,82012,66012,37511,97611,78711,73013,18010,85010,96610,679
Retained earnings10,4229,7929,1348,3218,3538,4959,7319,4408,9038,019
Stockholders' equity8,5797,4576,9956,0896,2566,4087,2687,0237,1406,644
Shares outstanding221249252229234238238242250260

Cash flow

Cash flow. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Operating cash flow3,1953,1462,3901,5041,5881,4351,9201,4081,5241,500
Capital expenditures—371301292223146254366221183
Free cash flow—2,7752,0891,2121,3651,2891,6651,0421,3021,318
YoY (Free cash flow)—+32.85%+72.32%-11.21%+5.94%-22.61%+59.80%-19.97%-1.16%—
Depreciation & amortization——————397362353352
Stock-based compensation86.682.964.356.366.569.566.480.873.669.6
Share repurchases1,4811,2816691,2001,1002507509001,017250
Dividends paid837758684620561507510480430349
Dividends per share3.763.363.002.682.362.122.120.000.000.00
Key financials (annual, 10-K)

Values as reported in each fiscal year's Form 10-K (XBRL data on SEC EDGAR); growth and ratios are computed from those values. Revenue is the total revenue figure the company tagged (omitted when the only figure tagged is evidently partial, e.g. below net income); growth is only shown between consecutive ~12-month fiscal years reported with the same revenue measure. Per-share figures and share counts are as reported and not adjusted for later stock splits. — = not reported.

FY2025 · per diluted weighted share

Per share and valuation context

EPS (diluted)
$12.98
Revenue per share
$94.81
FCF per share
—
Book value per share
$38.15
Tangible book per share
-$4.96
Cash per share
$7.84
Dividends per share
$3.76
Public floatas of Jun 30, 2025
$97.2B

Price ratios need a live quote. This page shows no stock prices. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Price ratio calculator

Type a share price to compute ratios from the latest 10-K figures. Nothing is stored or sent. (FY2025)

Market capPrice × diluted weighted shares
—
P/EPrice ÷ diluted EPS
—
P/BPrice ÷ book value per share
—
P/SPrice ÷ revenue per share
—
P/FCFPrice ÷ FCF per share
—
Dividend yieldDividends per share ÷ price
—
SEC EDGAR

Filing timeline

  1. 10-QNew
    Quarterly report· Sep 30, 2026(SEC EDGAR)
  2. 8-KNew
    Current report· Oct 29, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  3. 10-Q
    Quarterly report· Jun 30, 2026(SEC EDGAR)
  4. 8-K
    Current report· Jul 30, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  5. 8-K
    Current report· Jul 20, 2026(SEC EDGAR)
    • 5.02Officer or director changes
    • 9.01Financial statements and exhibits
  6. 8-K
    Current report· Jun 4, 2026(SEC EDGAR)
    • 5.02Officer or director changes
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
  7. 8-K
    Current report· Jun 4, 2026(SEC EDGAR)
    • 5.07Shareholder vote results
  8. 10-Q
    Quarterly report· Mar 31, 2026(SEC EDGAR)
  9. 8-K
    Current report· Apr 30, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  10. 8-K
    Current report· Apr 23, 2026(SEC EDGAR)
    • 1.01Material agreement
All filings on SEC EDGAR

Frequently asked questions

What does Trane Technologies plc do?

The SEC classifies Trane Technologies plc under Standard Industrial Classification (SIC) code 3822, "Auto Controls For Regulating Residential & Comml Environments". It is headquartered in Co. Dublin, Ireland. It is incorporated in Ireland. In fiscal 2025 it reported revenue of $21.32B and net income of $2.92B in its annual 10-K report.

What was Trane Technologies plc's revenue in 2025?

Trane Technologies plc reported revenue of $21.32B for fiscal 2025, which ended Dec 31, 2025, up 7.5% from $19.84B in fiscal 2024, according to its annual 10-K report filed with the SEC on Feb 5, 2026.

What was Trane Technologies plc's net income in 2025?

Trane Technologies plc reported net income of $2.92B for fiscal 2025, a net margin of 13.7% of revenue.

Where is Trane Technologies plc listed?

According to the SEC, Trane Technologies plc's ticker TT is listed on NYSE.

When does Trane Technologies plc's fiscal year end?

According to the SEC, Trane Technologies plc's fiscal year ends on December 31; its latest reported fiscal year (2025) ended Dec 31, 2025.

Source: SEC EDGAR · Last updated:

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Not investment advice: This page shows financial data that companies reported to the US Securities and Exchange Commission, for information only. It is not investment advice or a recommendation to buy or sell any security, and it shows no stock prices. Data may be incomplete, restated or out of date — check the original filings on SEC EDGAR before making decisions.