Trane Technologies plc TT

Technology SIC 3822 - Auto Controls For Regulating Residential & Comml Environments NAICS Manufacturing › Computer and Electronic Product Manufacturing › Navigational, Measuring, Electromedical, and Control Instruments Manufacturing › Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use derived NYSE

Trane Technologies plc, a public limited company, incorporated in Ireland in 2009, and its consolidated subsidiaries (collectively we, us, our, the Company) is a global climate innovator. We bring sustainable and efficient solutions to buildings, homes and transportation through our strategic brands, Trane® and Thermo King®, and our environmentally responsible portfolio of products, services and connected intelligent controls. We generate revenue and cash primarily through the design, manufacture, sales and service of solutions for Heating, Ventilation and Air Conditioning (HVAC), transport refrigeration, and custom refrigeration solutions. As an industry leader with an extensive global install base, our growth strategy includes expanding recurring revenue through services and rental options. Our unique business operating system, uplifting culture and highly engaged team around the world are also central to our earnings and cash flow growth.

Last close 444.90 2026-10-23
Market cap $97.89B 2026-06-30 share count
52-week range 348.06 - 505.87

Valuation FY2025 figures against the last close

P/S4.6x
P/E34.3x
P/FCF34.8x
EV/EBITDA23.2x
Dividend yield0.9%
Diluted EPS12.98

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • Americas
  • Emea
  • Asia Pacific
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 Americas, FY2025: 17.2B (80.5%) 81% Americas Emea, FY2025: 2.8B (13.1%) 13% Emea Asia Pacific, FY2025: 1.4B (6.3%) 6% FY2024 Americas, FY2024: 15.9B (80.2%) 80% Emea, FY2024: 2.6B (12.9%) 13% Asia Pacific, FY2024: 1.4B (6.9%) 7% FY2023 Americas, FY2023: 13.8B (78.2%) 78% Emea, FY2023: 2.4B (13.6%) 14% Asia Pacific, FY2023: 1.4B (8.2%) 8%
Region FY2025FY2024FY2023
Americas $17.17B $15.90B $13.83B
Emea $2.80B $2.56B $2.40B
Asia Pacific $1.35B $1.38B $1.44B

As the company reported it, from the “Revenue Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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
R&D $347.6M$309.6M$252.3M$211.2M$193.5M$165.0M$174.2M$166.7M$210.8M$207.9M
SG&A $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 $226.7M$238.4M$234.5M$223.5M$233.7M$248.7M$242.8M$221.0M$215.8M$221.5M
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 $705.9M$627.6M$498.4M$375.9M$333.5M$296.8M$238.6M$234.9M$80.2M$281.5M
Net income $2.92B$2.57B$2.02B$1.76B$1.42B$854.9M$1.41B$1.34B$1.30B$1.48B
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
Shares, diluted (wtd. avg.) 224.9M228.4M230.7M234.9M242.3M243.1M244.4M250.1M258.1M261.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.76B$1.59B$1.10B$1.22B$2.16B$3.29B$1.28B$878.4M$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
Total current assets $7.86B$7.34B$6.87B$6.38B$6.47B$6.91B$9.29B$5.73B$6.12B$5.58B
Property, plant and equipment $2.25B$2.02B$1.77B$1.54B$1.40B$1.35B$1.35B$1.73B$1.55B$1.51B
Goodwill $6.46B$6.13B$6.10B$5.50B$5.50B$5.34B$5.13B$5.10B$5.94B$5.66B
Other intangibles $3.24B$3.31B$3.44B$3.26B$3.31B$3.29B$3.32B$3.63B$3.74B$3.79B
Total assets $21.42B$20.15B$19.39B$18.08B$18.06B$18.16B$20.49B$17.91B$18.17B$17.40B
Accounts payable $2.15B$2.15B$2.03B$2.09B$1.79B$1.52B$1.38B$1.71B$1.56B$1.33B
Short-term debt $693.0M$452.2M$801.9M$1.05B$350.4M$775.6M$650.3M$350.6M$1.11B$360.8M
Total current liabilities $6.29B$6.07B$6.05B$5.69B$4.75B$4.34B$5.24B$4.32B$4.83B$3.59B
Long-term debt $3.92B$4.32B$3.98B$3.79B$4.49B$4.50B$4.92B$3.74B$2.96B$3.71B
Total liabilities $12.82B$12.66B$12.37B$11.98B$11.79B$11.73B$13.18B$10.85B$10.97B$10.68B
Retained earnings $10.42B$9.79B$9.13B$8.32B$8.35B$8.50B$9.73B$9.44B$8.90B$8.02B
Total equity $8.58B$7.46B$7.02B$6.11B$6.27B$6.43B$7.31B$7.06B$7.21B$6.72B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $3.19B$3.15B$2.39B$1.50B$1.59B$1.44B$1.92B$1.41B$1.52B$1.52B
Depreciation and amortisation $376.3M$379.4M$348.1M$323.6M$299.4M$294.3M$288.8M$282.3M$353.3M$352.2M
Stock-based compensation $86.6M$82.9M$64.3M$56.3M$66.5M$69.5M$66.4M$78.8M$70.8M—
Capital expenditure $383.0M$370.6M$300.7M$291.8M$223.0M$146.2M$205.4M$284.7M$221.3M$182.7M
Investing cash flow -$640.0M-$562.9M-$1.17B-$540.4M-$545.7M-$376.2M-$1.78B-$629.4M-$374.7M$240.1M
Financing cash flow -$2.50B-$2.02B-$1.35B-$1.85B-$2.13B$884.3M$270.5M-$1.38B-$1.43B-$726.9M
Dividends paid $837.3M$757.5M$683.7M$620.2M$561.1M$507.3M$510.1M$479.5M$430.1M$348.6M
Buybacks $1.48B$1.28B$669.3M$1.20B$1.10B$250.0M$750.1M$900.2M$1.02B$250.1M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-026679.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 10B 20B 30B Revenue, FY2016: 13.5B Gross profit, FY2016: 4.2B Net income, FY2016: 1.5B Revenue, FY2017: 14.2B Gross profit, FY2017: 4.4B Net income, FY2017: 1.3B Revenue, FY2018: 12.3B Gross profit, FY2018: 3.8B Net income, FY2018: 1.3B Revenue, FY2019: 13.1B Gross profit, FY2019: 4B Net income, FY2019: 1.4B Revenue, FY2020: 12.5B Gross profit, FY2020: 3.8B Net income, FY2020: 854.9M Revenue, FY2021: 14.1B Net income, FY2021: 1.4B Revenue, FY2022: 16B Net income, FY2022: 1.8B Revenue, FY2023: 17.7B Net income, FY2023: 2B Revenue, FY2024: 19.8B Net income, FY2024: 2.6B Revenue, FY2025: 21.3B Net income, FY2025: 2.9B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $13.51B $14.20B $12.34B $13.08B $12.45B $14.14B $15.99B $17.68B $19.84B $21.32B
Gross profit $4.20B $4.39B $3.76B $3.99B $3.80B — — — — —
Net income $1.48B $1.30B $1.34B $1.41B $854.9M $1.42B $1.76B $2.02B $2.57B $2.92B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.