TT · Trane Technologies PLC - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $21.32B | $19.84B | $17.68B | $15.99B | $14.14B | $12.45B |
| Cost of Revenue | - | - | - | - | - | $8.65B |
| Gross Profit | - | - | - | - | - | $3.80B |
| R&D | $347.60M | $309.60M | $252.30M | $211.20M | $193.50M | $165.00M |
| SG&A | $3.74B | $3.58B | $2.96B | $2.55B | $2.45B | $2.27B |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $207.40M | $194.00M | $178.30M | $176.50M | $170.50M | $172.80M |
| Operating Income | $3.97B | $3.50B | $2.89B | $2.42B | $2.02B | $1.53B |
| Interest Expense | $226.70M | $238.40M | $234.50M | $223.50M | $233.70M | $248.70M |
| Income Tax | $705.90M | $627.60M | $498.40M | $375.90M | $333.50M | $296.80M |
| Net Income | $2.92B | $2.57B | $2.02B | $1.76B | $1.42B | $854.90M |
| EPS - Basic | $13.09 | $11.35 | $8.85 | $7.55 | $5.96 | $3.56 |
| EPS - Diluted | $12.98 | $11.24 | $8.77 | $7.48 | $5.87 | $3.52 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.76B | $1.59B | $1.10B | $1.22B | $2.16B | $3.29B |
| Accounts Receivable | $3.24B | $3.09B | $2.96B | $2.78B | $2.43B | $2.20B |
| Inventory | $2.10B | $1.97B | $2.15B | $1.99B | $1.53B | $1.19B |
| Accounts Payable | $2.15B | $2.15B | $2.03B | $2.09B | $1.79B | $1.52B |
| Current Assets | $7.86B | $7.34B | $6.87B | $6.38B | $6.47B | $6.91B |
| Total Assets | $21.42B | $20.15B | $19.39B | $18.08B | $18.06B | $18.16B |
| Current Liabilities | $6.29B | $6.07B | $6.05B | $5.69B | $4.75B | $4.34B |
| Long-term Debt | $3.92B | $4.32B | $3.98B | $3.79B | $4.49B | $4.50B |
| Total Liabilities | $12.82B | $12.66B | $12.37B | $11.98B | $11.79B | $11.73B |
| Stockholders' Equity | $8.58B | $7.46B | $7.00B | $6.09B | $6.26B | $6.41B |
| Retained Earnings | $10.42B | $9.79B | $9.13B | $8.32B | $8.35B | $8.50B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.19B | $3.15B | $2.39B | $1.50B | $1.59B | $1.44B |
| Investing Cash Flow | ($640.00M) | ($562.90M) | ($1.17B) | ($540.40M) | ($545.70M) | ($376.20M) |
| Financing Cash Flow | ($2.50B) | ($2.02B) | ($1.35B) | ($1.85B) | ($2.13B) | $884.30M |
| CapEx | $383.00M | $370.60M | $300.70M | $291.80M | $223.00M | $146.20M |
| Free Cash Flow | $2.81B | $2.77B | $2.09B | $1.21B | $1.37B | $1.29B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | 30.5% |
| Operating margin | 18.6% | 17.6% | 16.4% | 15.1% | 14.3% | 12.3% |
| EBITDA margin | 19.6% | 18.6% | 17.4% | 16.2% | 15.5% | 13.7% |
| Net margin | 13.7% | 12.9% | 11.4% | 11.0% | 10.1% | 6.9% |
| Free cash flow margin | 13.2% | 14.0% | 11.8% | 7.6% | 9.7% | 10.3% |
| FCF / Net income | 0.96 | 1.08 | 1.03 | 0.69 | 0.96 | 1.51 |
| R&D / Revenue | 1.6% | 1.6% | 1.4% | 1.3% | 1.4% | 1.3% |
| SG&A / Revenue | 17.6% | 18.0% | 16.8% | 15.9% | 17.3% | 18.2% |
| Effective tax rate | 19.5% | 19.6% | 19.8% | 17.6% | 19.0% | 25.8% |
| Return on assets | 13.6% | 12.7% | 10.4% | 9.7% | 7.9% | 4.7% |
| Return on equity | 34.0% | 34.4% | 28.9% | 28.8% | 22.8% | 13.3% |
| Return on invested capital | 25.6% | 23.9% | 21.2% | 20.2% | 15.3% | 10.4% |
| Liquidity | ||||||
| Current ratio | 1.25 | 1.21 | 1.13 | 1.12 | 1.36 | 1.59 |
| Quick ratio | 0.92 | 0.88 | 0.78 | 0.77 | 1.04 | 1.32 |
| Cash ratio | 0.28 | 0.26 | 0.18 | 0.21 | 0.45 | 0.76 |
| Leverage | ||||||
| Debt / Equity | 0.46 | 0.58 | 0.57 | 0.62 | 0.72 | 0.70 |
| Debt / Assets | 0.18 | 0.21 | 0.21 | 0.21 | 0.25 | 0.25 |
| Debt / EBITDA | 0.94 | 1.17 | 1.29 | 1.46 | 2.05 | 2.64 |
| Interest coverage | 17.5x | 14.7x | 12.3x | 10.8x | 8.7x | 6.2x |
| Equity multiplier | 2.50 | 2.70 | 2.77 | 2.97 | 2.89 | 2.83 |
| Liabilities / Assets | 0.60 | 0.63 | 0.64 | 0.66 | 0.65 | 0.65 |
| Efficiency | ||||||
| Asset turnover | 1.00 | 0.98 | 0.91 | 0.88 | 0.78 | 0.69 |
| Inventory turnover | - | - | - | - | - | 7.27 |
| Days sales outstanding | 55d | 57d | 61d | 63d | 63d | 65d |
| Days inventory outstanding | - | - | - | - | - | 50d |
| Days payable outstanding | - | - | - | - | - | 64d |
| Cash conversion cycle | - | - | - | - | - | 51d |
| Valuation | ||||||
| P / E | 30.0x | 32.9x | 27.8x | 22.5x | 34.4x | 41.2x |
| P / B | 10.2x | 11.3x | 8.0x | 6.5x | 7.8x | 5.5x |
| P / S | 4.1x | 4.3x | 3.2x | 2.5x | 3.5x | 2.8x |
| EV / EBITDA | 21.5x | 23.6x | 19.3x | 16.2x | 23.4x | 21.4x |
| Growth | ||||||
| Revenue growth (YoY) | 7.5% | 12.2% | 10.5% | 13.1% | 13.5% | -25.0% |
| Revenue CAGR (3y) | 10.1% | 12.0% | 12.4% | -1.2% | 1.5% | -4.3% |
| Revenue CAGR (5y) | 11.4% | 3.6% | 5.5% | 2.4% | 0.9% | -1.3% |
| Gross profit growth (YoY) | - | - | - | - | - | -26.1% |
| Operating income growth (YoY) | 13.4% | 20.9% | 19.6% | 19.6% | 32.0% | -24.0% |
| Net income growth (YoY) | 13.7% | 26.9% | 15.2% | 23.4% | 66.5% | -39.4% |
| EPS growth (YoY) | 15.5% | 28.2% | 17.2% | 27.4% | 66.8% | -39.0% |
| EPS CAGR (3y) | 20.2% | 24.2% | 35.6% | 9.0% | 3.1% | -11.3% |
| EPS CAGR (5y) | 29.8% | 14.3% | 10.4% | 8.2% | 0.8% | 7.3% |
| FCF growth (YoY) | 1.3% | 32.8% | 72.3% | -11.2% | 5.9% | -22.6% |
| FCF CAGR (5y) | 16.9% | 10.8% | 14.9% | -1.4% | 0.7% | 16.5% |
| Book value growth (YoY) | 15.0% | 6.6% | 14.9% | -2.7% | -2.4% | -11.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$21.32B totalProduct$13.98B · 65.6%
Service$7.34B · 34.4%
Geographic
$21.32B totalAmericas$17.17B · 80.5%
EMEA$2.80B · 13.1%
Asia Pacific$1.35B · 6.3%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.31
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
8/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Dividends
$2.93/share trailing 12 months · -15.3% YoY
| Ex-date | Per share |
|---|---|
| Mar 6, 2026 | $1.0500 |
| Sep 5, 2025 | $0.9400 |
| Jun 6, 2025 | $0.9400 |
| Mar 7, 2025 | $0.9400 |
| Dec 6, 2024 | $0.8400 |
| Sep 6, 2024 | $0.8400 |
| Jun 7, 2024 | $0.8400 |
| Feb 29, 2024 | $0.8400 |
| Nov 30, 2023 | $0.7500 |
| Aug 31, 2023 | $0.7500 |
| Jun 1, 2023 | $0.7500 |
| Mar 2, 2023 | $0.7500 |
| Dec 1, 2022 | $0.6700 |
| Sep 1, 2022 | $0.6700 |
| Jun 2, 2022 | $0.6700 |
| Mar 3, 2022 | $0.6700 |
| Dec 2, 2021 | $0.5900 |
| Sep 2, 2021 | $0.5900 |
| Jun 3, 2021 | $0.5900 |
| Mar 4, 2021 | $0.5900 |
| Dec 3, 2020 | $0.5300 |
| Sep 3, 2020 | $0.5300 |
| Jun 4, 2020 | $0.5300 |
| Mar 12, 2020 | $0.5300 |