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Friday 6 November 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.

Revenue
+17.7%
EPS
+25.4%
Free cash flow
+28.8%
Total debt
−8.63%

Quarter to September 2026, against a year earlier

400.63 8.20 +2.09%
Market cap
$85.9B
P/E
27.8×
Fwd P/E
27.1×
Dividend yield
1.04%
F-score
9/9
Altman Z
6.44
Beneish M
−2.46
Dividend safety
89/100
Overview Business Profile Earnings & Analysis
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Trane Technologies plc (TT) Operating margin

Alert me on Operating margin

Trane Technologies plc's operating margin over the twelve months to 30 September 2026 was 17.9%, down 0.7 percentage points from fiscal 2025 (18.6%). Over the past ten years it has ranged from 11.2% (fiscal 2015) to 18.6% (fiscal 2025) — the current reading is the highest in ten years. That is above the Building Products & Equipment industry median of 7.18% and above the Industrials sector median of 5.21%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 18.6% 0.97
FY2024 17.6% 1.27
FY2023 16.4% 1.24
FY2022 15.1% 0.82
FY2021 14.3% 2.00
FY2020 12.3% (0.46)
FY2019 12.8% 0.52
FY2018 12.3% 0.52
FY2017 11.7% (0.14)
FY2016 11.9% 0.65

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 19.9% 0.60
Jun 2026 19.3% 3.65
Mar 2026 15.6% (0.30)
Dec 2025 15.9% (4.37)
43 more quarters

Against its own ten years

Low 11.2% High 18.6%
Ten-year median 12.8%
Current reading's percentile 86

Operating margin against peers

Company Operating margin
WMS Advanced Drainage Systems, Inc. compare 19.6%
CSL Carlisle Companies Incorporated compare 19.5%
LII Lennox International, Inc. compare 18.8%
MAS Masco Corporation compare 17.9%
TT Trane Technologies plc 17.9%
MAIR Madison Air Solutions Corporation compare 17.6%
JCI Johnson Controls International plc compare 14.4%
OC Owens Corning Inc compare 2.33%
CARR Carrier Global Corporation compare −4.77%
Building Products & Equipment industry median 7.18%
Industrials sector median 5.21%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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