Saturday 17 October 2026 Export TT’s income statement to Excel — free account

Trane Technologies plc

TT Industrials Building Products & Equipment

Trane Technologies plc’s revenue for fiscal 2025 (year ended December 2025) was $21.3 billion, up 7.48% from fiscal 2024. In the quarter to June 2026, revenue grew 10.6%, EPS grew 6.94%, free cash flow grew 67.9% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for five, operating cash flow growth for three; insiders bought in the last twelve months.

458.89 1.53 +0.33%

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Market cap: $100.6B
P/E: 34.8×
Fwd P/E: 30.8×
Dividend yield: 0.89%
F-score: 9/9
Altman Z: 6.44
Beneish M: −2.46
Dividend safety: 89/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 0.17

Total sells 75.65

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	1	—	—	—	—	—	—	—
Sell	—	—	—	8	3	2	—	—	—	2	—	1

Insider Ownership 0.67%

Capital & Financial Ratios $m

Market Cap 100,630.00

Revenue 22,209.90

Net Income 2,972.50

Free Cash Flow 3,567.10

Net Debt 3,298.50

Current Ratio 1.07

Debt/Equity 0.53

P/E ratio 34.76

Fwd P/E 30.80

P/S ratio 4.57

P/B ratio 11.73

Past 5Y EPS Growth 29.82%

This Y EPS Growth 17.00%

Next Y EPS Growth 15.99%

Next Y revenue growth 11.35%

Next 5Y EPS Growth 15.98%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 81.68%

10-year low 10-year high

P/S against its own 10 years 90.90%

10-year low 10-year high

P/B against its own 10 years 90.64%

10-year low 10-year high

EV/Sales against its own 10 years 90.42%

10-year low 10-year high

EV/FCF against its own 10 years 58.83%

10-year low 10-year high

Dividends

Payout Ratio 0.31

Annual Dividend Rate 4.09

Annual Dividend Yield 0.89%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	4.08	1.05 1.05 1.05
2025	3.76	0.94 0.94 0.94 0.94
2024	3.36	0.84 0.84 0.84 0.84
2023	3.00	0.75 0.75 0.75 0.75
2022	2.68	0.67 0.67 0.67 0.67
2021	2.36	0.59 0.59 0.59 0.59
2020	2.12	0.53 0.53 0.53 0.53
2019	1.64	0.41 0.41 0.41 0.41
2018	1.52	0.35 0.35 0.41 0.41
2017	1.32	0.31 0.31 0.35 0.35
2016	1.06	0.25 0.25 0.25 0.31

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,095	1,590	1,763	1,318
Receivables	2,957	3,090	3,235	4,235
Inventory	2,152	1,972	2,104	2,617
Other	666	686	761	837
	6,870	7,338	7,863	9,007

	2023	2024	2025	Q'26
Payables	2,025	2,148	2,154	2,976
ST’ Debt	802	452	693	693
Other	—	—	—	—
	6,054	6,069	6,287	8,391

Compound Annual Growth %

	10y	5y	3y
Sales	4.83%	11.35%	10.06%
Cash Flow	13.65%	17.36%	28.54%
Earnings	15.95%	27.84%	18.44%
Book Value	3.88%	6.00%	12.10%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	4,969	6,354	—	—	—
’25	4,689	5,746	5,743	5,145	21,322
’24	4,216	5,307	5,441	4,874	19,838
’23	3,666	4,705	4,883	4,424	17,678
’22	3,356	4,190	4,372	4,074	15,992
’21	3,018	3,830	3,720	3,569	14,136
’20	2,641	3,139	3,496	3,179	12,455

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	626	1,088	—	—	—
’25	340	692	1,004	1,159	3,195
’24	247	696	1,303	900	3,146
’23	9	524	922	935	2,390
’22	(188)	422	510	760	1,504
’21	260	491	411	427	1,588
’20	(328)	205	931	627	1,435

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	547	1,011	—	—	—
’25	221	602	936	1,074	2,832
’24	163	623	1,214	779	2,780
’23	(69)	467	839	861	2,098
’22	(263)	353	451	681	1,222
’21	216	457	367	341	1,380
’20	(362)	180	901	570	1,289

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	2.62	4.16	—	—	—
’25	2.67	3.89	3.78	2.64	12.98
’24	1.90	3.30	3.39	2.66	11.24
’23	1.33	2.55	2.72	2.19	8.77
’22	1.10	2.16	2.34	1.89	7.48
’21	0.97	1.91	1.68	1.32	5.87
’20	(0.12)	0.99	1.64	1.01	3.52

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	36.52	57.68	61.78	69.12	70.00	137.98	120.64	162.04	233.76	298.15	Analyst estimates 2026–2028 Powerpack
	High	61.45	74.65	83.07	107.32	153.72	207.06	201.65	245.27	422.00	476.19
People
People	Employees	45,000	46,000	49,000	50,000	35,000	37,000	39,000	40,000	45,000	44,000
	Revenue/emp, $m	0.30	0.31	0.25	0.26	0.36	0.38	0.41	0.44	0.44	0.48
Income, $m
Income, $m	Revenue	13,509	14,198	12,344	13,076	12,455	14,136	15,992	17,678	19,838	21,322
	Gross margin, %	31.10	30.89	30.47	30.52	30.54	31.62	31.05	33.13	35.69	36.16
	EBT	1,741	1,418	1,258	1,399	1,288	1,791	2,172	2,567	3,242	3,679
	EBT margin, %	12.89	9.99	10.19	10.70	10.34	12.67	13.58	14.52	16.34	17.25
	Net income	1,493	1,312	1,358	1,429	870	1,437	1,775	2,042	2,590	2,936
	Depreciation	352	353	282	289	294	299	324	348	379	376
Per share, $
Per share, $	Revenue	52.12	55.70	49.93	54.12	51.87	59.22	68.75	77.33	87.70	95.61
	Earnings	5.65	5.05	5.35	5.77	3.52	5.87	7.48	8.77	11.24	12.98
	Cash flow	5.87	5.98	5.70	7.95	5.98	6.65	6.47	10.45	13.91	14.33
	Capex	(0.67)	(0.86)	(1.11)	(0.84)	(0.61)	(0.87)	(1.21)	(1.28)	(1.62)	(1.63)
	Free cash flow	5.20	5.11	4.58	7.10	5.37	5.78	5.25	9.18	12.29	12.70
	Book value	25.92	28.27	28.58	30.27	26.77	26.28	26.25	30.70	33.10	38.57
	Shares, m	259	255	247	242	240	239	233	229	226	223
Valuation, ×
Valuation, ×	P/E	10.46	13.58	13.21	17.84	41.24	34.36	22.90	27.38	32.83	29.98
	P/S	1.13	1.24	1.42	1.91	2.80	3.41	2.49	3.11	4.21	4.07
	P/B	2.27	2.44	2.48	3.41	5.42	7.69	6.54	7.84	11.16	10.09
	EV/Sales	1.30	1.41	1.68	2.23	2.96	3.60	2.72	3.32	4.37	4.20
	EV/FCF	13.07	15.39	18.26	17.02	28.58	36.88	35.61	27.97	31.20	31.65
Cash, $m
Cash, $m	Operating cash flow	1,522	1,524	1,408	1,920	1,435	1,588	1,504	2,390	3,146	3,195
	Capex	(173)	(220)	(275)	(203)	(146)	(208)	(282)	(291)	(366)	(362)
	Free cash flow	1,349	1,304	1,133	1,716	1,289	1,380	1,222	2,098	2,780	2,832
Balance, $m
Balance, $m	Working capital	1,989	1,291	1,416	4,055	2,567	1,719	692	816	1,269	1,576
	Total debt	4,070	4,064	4,091	5,573	5,272	4,842	4,836	4,780	4,770	4,615
	Net debt	2,356	2,515	3,188	4,295	1,982	2,683	3,616	3,685	3,180	2,852
	Shareholders’ equity	6,718	7,207	7,065	7,312	6,427	6,273	6,105	7,017	7,487	8,601
Returns, %
Returns, %	ROA	8.65	7.32	7.41	7.35	4.42	7.86	9.72	10.80	12.99	14.04
	ROIC	11.04	10.71	9.22	8.99	11.39	14.12	15.55	16.90	20.51	21.65
	ROE	23.44	18.71	18.74	19.63	12.44	22.42	28.38	30.85	35.41	36.28

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
TT Trane Technologies plc	$100.6B	34.8×	30.8×	+10.56% (above 0%: growing)	+6.94% (above 0%: growing)	+67.93% (above 0%: growing)	35.57%	19.27%
JCI Johnson Controls International plc	$89.4B	25.2×	30.7×	+9.29% (above 0%: growing)	+14.95% (above 0%: growing)	+72.29% (above 0%: growing)	37.41%	14.92%	Compare
CARR Carrier Global Corporation	$45.3B	37.9×	31.1×	+3.89% (above 0%: growing)	−13.04% (below 0%: shrinking)	+42.61% (above 0%: growing)	27.21%	12.99%	Compare
MAS Masco Corporation	$14.3B	16.8×	16.5×	−2.88% (below 0%: shrinking)	+25.00% (above 0%: growing)	+67.78% (above 0%: growing)	43.57%	23.64%	Compare
CSL Carlisle Companies Incorporated	$13.3B	19.0×	18.5×	+8.33% (above 0%: growing)	+6.75% (above 0%: growing)	−22.53% (below 0%: shrinking)	36.20%	22.45%	Compare
LII Lennox International, Inc.	$12.4B	16.1×	20.8×	+2.96% (above 0%: growing)	−1.40% (below 0%: shrinking)	+133.39% (above 0%: growing)	34.91%	22.97%	Compare
WMS Advanced Drainage Systems, Inc.	$9.7B	21.9×	21.2×	+20.63% (above 0%: growing)	+18.92% (above 0%: growing)	−8.28% (below 0%: shrinking)	40.76%	25.43%	Compare
OC Owens Corning Inc	$9.0B	— (loss-making)	13.4×	+0.33% (above 0%: growing)	−34.19% (below 0%: shrinking)	+61.87% (above 0%: growing)	28.77%	17.49%	Compare
SPXC SPX Technologies, Inc.	$8.4B	29.5×	34.3×	+22.92% (above 0%: growing)	+40.18% (above 0%: growing)	+96.84% (above 0%: growing)	40.18%	16.94%	Compare
Median of peers	$12.9B	21.9×	21.0×	+6.11%	+10.85%	+64.83%	36.81%	19.97%

All 35 Building Products & Equipment stocks →

Trane Technologies plc (TT) key facts

Strength: Trane Technologies plc’s revenue for fiscal 2025 (year ended December 2025) was $21.3 billion, up 7.48% from fiscal 2024.
Strength: Net income was $2.9 billion, or $12.98 per share (basic), a net margin of 13.7%.
Trane Technologies plc (TT) is a Building Products & Equipment company in the Industrials sector, listed on the New York Stock Exchange.
As of October 16, 2026, TT traded at $458.89, a market capitalization of $100.6 billion.
At that price the stock trades at 34.8× trailing-twelve-month earnings and 4.6× sales; its P/E is higher than 82% of its own readings over the past ten years.
Trane Technologies plc pays an annual dividend of $4.09 per share, a yield of 0.89%, with a payout ratio of 31.0%.
Return on equity was 36.3% and debt-to-equity 0.53.
Its Piotroski F-score is 9 out of 9 and its Altman Z-score is 6.44 (safe zone) for fiscal 2025.