Trane Technologies (TT) Financials

$429.78 -1.03 (-0.24%)

As of 05/20/2025 03:59 PM Eastern

Annual Income Statements for Trane Technologies

This table shows Trane Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	2,568	2,024	1,757	1,423	855	1,411	1,338	3,908	1,476	665
Consolidated Net Income / (Loss)	2,590	2,042	1,775	1,437	870	1,429	1,358	1,312	1,493	683
Net Income / (Loss) Continuing Operations	2,614	2,069	1,796	1,457	991	1,160	1,023	1,338	1,460	707
Total Pre-Tax Income	3,242	2,567	2,172	1,791	1,288	1,399	1,258	1,418	1,741	1,248
Total Operating Income	3,500	2,894	2,419	2,023	1,533	1,670	1,512	1,665	1,603	1,492
Total Gross Profit	7,081	5,857	4,965	4,470	3,803	3,990	3,761	4,386	4,201	4,023
Total Revenue	19,838	17,678	15,992	14,136	12,455	13,076	12,344	14,198	13,509	13,301
Operating Revenue	19,838	17,678	15,992	14,136	12,455	13,076	12,344	14,198	13,509	13,301
Total Cost of Revenue	12,758	11,820	11,027	9,667	8,651	9,086	8,583	9,812	9,308	9,277
Operating Cost of Revenue	12,758	11,820	11,027	9,667	8,651	9,086	8,583	9,812	9,308	9,277
Total Operating Expenses	3,580	2,963	2,546	2,446	2,271	2,320	2,249	2,721	2,598	2,532
Selling, General & Admin Expense	3,580	2,963	2,546	2,446	2,271	2,320	2,249	2,721	2,598	2,532
Total Other Income / (Expense), net	-258	-327	-247	-233	-245	-271	-254	-247	138	-244
Interest Expense	238	235	224	234	249	243	221	216	222	223
Other Income / (Expense), net	-20	-92	-23	1.10	4.10	-28	-33	-32	360	-21
Income Tax Expense	628	498	376	334	297	239	235	80	282	541
Net Income / (Loss) Discontinued Operations	-25	-27	-22	-21	-121	268	335	-51	33	-24
Net Income / (Loss) Attributable to Noncontrolling Interest	22	18	18	13	15	18	20	9.70	17	18
Basic Earnings per Share	$11.35	$8.85	$7.55	$5.96	$3.56	$5.84	$5.41	$5.11	$5.70	$2.51
Weighted Average Basic Shares Outstanding	224.29M	227.07M	229.07M	233.54M	238.43M	238.40M	242.17M	254.90M	259.20M	265.10M
Diluted Earnings per Share	$11.24	$8.77	$7.48	$5.87	$3.52	$5.77	$5.35	$5.05	$5.65	$2.48
Weighted Average Diluted Shares Outstanding	224.29M	227.07M	229.07M	233.54M	238.43M	238.40M	242.17M	254.90M	259.20M	265.10M
Weighted Average Basic & Diluted Shares Outstanding	224.29M	227.07M	229.07M	233.54M	238.43M	238.40M	242.17M	254.90M	259.20M	265.10M
Cash Dividends to Common per Share	$3.36	$3.00	$2.68	$2.36	$2.12	$2.12	$1.96	$1.70	$1.16	$1.16

This table shows Trane Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	605	604	772	755	436	504	626	586	307	439	548
Consolidated Net Income / (Loss)	609	612	778	760	440	508	632	591	311	444	552
Net Income / (Loss) Continuing Operations	618	615	787	767	445	517	639	597	317	449	560
Total Pre-Tax Income	753	751	968	973	551	615	796	766	390	523	665
Total Operating Income	819	808	1,025	1,034	634	688	864	885	457	581	740
Total Gross Profit	1,678	1,711	1,974	1,936	1,460	1,471	1,658	1,584	1,144	1,220	1,433
Total Revenue	4,689	4,874	5,441	5,307	4,216	4,424	4,883	4,705	3,666	4,074	4,372
Operating Revenue	4,689	4,874	5,441	5,307	4,216	4,424	4,883	4,705	3,666	4,074	4,372
Total Cost of Revenue	3,011	3,163	3,467	3,372	2,756	2,953	3,225	3,120	2,522	2,854	2,939
Operating Cost of Revenue	3,011	3,163	3,467	3,372	2,756	2,953	3,225	3,120	2,522	2,854	2,939
Total Operating Expenses	859	903	950	901	826	784	794	699	687	639	693
Selling, General & Admin Expense	859	903	950	901	826	784	794	699	687	639	693
Total Other Income / (Expense), net	-66	-57	-57	-62	-83	-73	-68	-119	-67	-58	-75
Interest Expense	58	60	63	58	58	57	58	62	58	56	56
Other Income / (Expense), net	-7.90	2.90	6.30	-4.10	-25	-15	-10	-57	-9.40	-2.30	-19
Income Tax Expense	135	135	181	206	106	98	158	170	73	74	105
Net Income / (Loss) Discontinued Operations	-8.90	-3.50	-8.90	-6.90	-5.40	-9.10	-6.50	-6.10	-5.50	-5.00	-7.90
Net Income / (Loss) Attributable to Noncontrolling Interest	4.20	7.60	5.90	4.60	3.50	3.30	6.00	4.50	4.00	4.90	4.50
Basic Earnings per Share	$2.70	$2.68	$3.42	$3.33	$1.92	$2.20	$2.74	$2.57	$1.34	$1.90	$2.36
Weighted Average Basic Shares Outstanding	224.40M	224.29M	225.80M	226.60M	227.40M	227.07M	228.60M	228.50M	229.30M	229.07M	231.90M
Diluted Earnings per Share	$2.67	$2.65	$3.39	$3.30	$1.90	$2.17	$2.72	$2.55	$1.33	$1.88	$2.34
Weighted Average Diluted Shares Outstanding	226.40M	224.29M	228M	228.70M	229.50M	227.07M	230.60M	230.30M	231.50M	229.07M	234M
Weighted Average Basic & Diluted Shares Outstanding	223.02M	224.29M	225.02M	225.67M	226.35M	227.07M	227.56M	228.40M	228.05M	229.07M	230.31M

This table details how cash moves in and out of Trane Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	495	-125	-939	-1,131	2,011	400	-1,292	-165	978	-968
Net Cash From Operating Activities	3,146	2,390	1,504	1,588	1,435	1,920	1,408	1,524	1,522	888
Net Cash From Continuing Operating Activities	3,178	2,427	1,699	1,594	1,766	1,524	997	1,562	1,433	924
Net Income / (Loss) Continuing Operations	2,614	2,069	1,796	1,457	991	1,160	1,023	1,338	1,460	707
Consolidated Net Income / (Loss)	2,590	2,042	1,775	1,437	870	1,429	1,358	1,312	1,493	683
Net Income / (Loss) Discontinued Operations	-25	-27	-22	-21	-121	268	335	-25	33	-24
Depreciation Expense	379	348	324	299	294	289	282	353	352	364
Non-Cash Adjustments To Reconcile Net Income	124	115	112	117	138	145	65	62	-362	158
Changes in Operating Assets and Liabilities, net	61	-106	-533	-280	342	-70	-373	-191	-51	-305
Net Cash From Discontinued Operating Activities	-32	-37	-195	-6.10	-331	396	411	-38	89	-35
Net Cash From Investing Activities	-563	-1,172	-540	-546	-376	-1,780	-629	-375	240	-1,193
Net Cash From Continuing Investing Activities	-563	-1,172	-540	-546	-339	-282	-562	-380	0.00	0.00
Purchase of Property, Plant & Equipment	-371	-301	-292	-223	-146	-205	-285	-221	-183	-250
Acquisitions	-180	-863	-235	-269	-194	-83	-286	-158	-9.20	-962
Purchase of Investments	-450	0.00	0.00	-	-	-	-	-	-	-
Sale of Property, Plant & Equipment	4.70	9.20	9.70	15	0.10	2.20	9.70	1.50	9.50	19
Sale and/or Maturity of Investments	450	0.00	0.00	-	-	-	-	-	0.00	0.00
Other Investing Activities, net	-17	-18	-23	-69	1.20	4.80	-1.20	2.70	-	-
Net Cash From Discontinued Investing Activities	0.00	0.00	-0.60	0.00	-38	-1,498	-68	-	0.00	0.00
Net Cash From Financing Activities	-2,021	-1,350	-1,852	-2,128	884	271	-1,379	-1,433	-727	-528
Net Cash From Continuing Financing Activities	-2,021	-1,350	-1,840	-2,029	884	272	-1,376	-1,433	-727	-528
Repayment of Debt	-514	-763	-14	-480	-305	-22	-1,145	-40	-177	-26
Repurchase of Common Equity	-1,281	-669	-1,200	-1,100	-250	-750	-900	-1,017	-250	-250
Payment of Dividends	-771	-697	-635	-576	-526	-526	-521	-453	-363	-313
Issuance of Debt	499	699	0.00	0.00	0.00	1,498	1,147	0.00	0.00	0.00
Other Financing Activities, net	47	79	8.80	128	1,965	73	43	77	63	61
Net Cash From Discontinued Financing Activities	0.00	0.00	0.00	0.00	0.00	-1.50	-2.90	-	0.00	0.00
Effect of Exchange Rate Changes	-67	7.70	-50	-46	68	-9.80	-46	118	-57	-136
Cash Interest Paid	233	217	218	235	244	221	201	210	209	172
Cash Income Taxes Paid	711	524	321	357	152	425	375	287	334	409

This table details how cash moves in and out of Trane Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-730	-780	595	925	-245	135	296	-29	-528	140	-10
Net Cash From Operating Activities	340	900	1,303	696	247	935	922	524	8.50	760	510
Net Cash From Continuing Operating Activities	346	906	1,314	704	254	944	935	531	17	765	516
Net Income / (Loss) Continuing Operations	618	615	787	767	445	517	639	597	317	449	560
Consolidated Net Income / (Loss)	609	612	778	760	440	508	632	591	311	444	552
Net Income / (Loss) Discontinued Operations	-8.90	-3.40	-9.00	-6.90	-5.40	-9.00	-6.60	-6.10	-5.50	-4.90	-8.00
Depreciation Expense	99	97	95	96	92	88	92	88	80	83	84
Non-Cash Adjustments To Reconcile Net Income	-40	63	2.90	11	47	32	21	27	35	57	21
Changes in Operating Assets and Liabilities, net	-331	131	429	-169	-330	307	182	-181	-414	177	-150
Net Cash From Discontinued Operating Activities	-6.00	-5.60	-11	-8.30	-7.20	-9.40	-12	-7.30	-8.30	-5.00	-5.50
Net Cash From Investing Activities	-385	324	-260	-545	-82	-436	-89	-556	-91	-215	-67
Net Cash From Continuing Investing Activities	0.00	-563	-	-	0.00	-1,172	-	-	0.00	-215	-67
Purchase of Property, Plant & Equipment	-119	-126	-88	-73	-84	-84	-83	-57	-77	-89	-59
Acquisitions	-265	-0.70	-174	-5.20	0.00	-353	-4.00	-506	0.00	-125	-
Sale and/or Maturity of Investments	0.00	-	-	-	-	-	-	-	-	-	-
Other Investing Activities, net	-0.90	-4.70	2.70	-17	2.10	-9.20	-1.90	7.10	-14	-10	-8.20
Net Cash From Discontinued Investing Activities	0.00	-	-	-	0.00	-	-	-	0.00	-	-
Net Cash From Financing Activities	-723	-1,030	-486	-118	-387	-398	-516	23	-459	-439	-411
Net Cash From Continuing Financing Activities	-723	-1,030	-486	-118	-387	-398	-516	23	-459	-427	-411
Repayment of Debt	0.00	-501	-0.90	-112	100	-46	-201	190	-706	-2.10	-
Repurchase of Common Equity	-478	-355	-302	-324	-300	-210	-160	-	-300	-300	-250
Payment of Dividends	-218	-189	-195	-195	-192	-171	-177	-175	-173	-153	-162
Issuance of Debt	0.00	-	-	499	0.00	0.10	-	-	699	-	-
Other Financing Activities, net	-28	14	11	16	6.10	28	22	7.50	21	29	0.30
Effect of Exchange Rate Changes	39	-73	39	-8.70	-24	35	-21	-20	14	34	-42

This table presents Trane Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	20,147	19,392	18,082	18,060	18,157	20,492	17,915	18,173	17,397	16,718
Total Current Assets	7,338	6,870	6,379	6,471	6,906	9,294	5,732	6,119	5,579	4,609
Cash & Equivalents	1,590	1,095	1,221	2,159	3,290	1,279	903	1,549	1,715	737
Short-Term Investments	0.00	0.00	-	-	-	-	-	-	-	-
Accounts Receivable	3,090	2,957	2,780	2,429	2,202	2,185	2,679	2,477	2,223	2,151
Inventories, net	1,972	2,152	1,994	1,531	1,189	1,279	1,678	1,555	1,386	1,411
Current Deferred & Refundable Income Taxes	0.00	0.00	0.00	0.00	-	0.00	-	0.00	0.00	0.00
Other Current Assets	686	666	385	352	224	345	472	537	256	311
Other Current Nonoperating Assets	0.00	0.00	0.00	0.00	-	4,207	-	-	-	-
Plant, Property, & Equipment, net	2,025	1,772	1,536	1,399	1,350	0.00	1,731	1,551	1,511	1,575
Total Noncurrent Assets	10,784	10,750	10,166	10,190	9,902	11,199	10,452	10,503	10,307	10,533
Goodwill	6,128	6,095	5,504	5,505	5,343	5,126	5,960	5,936	5,658	5,730
Intangible Assets	3,308	3,440	3,264	3,306	3,286	3,324	3,635	3,743	3,785	3,926
Other Noncurrent Operating Assets	1,348	1,215	1,399	1,380	1,272	2,749	858	824	864	877
Total Liabilities & Shareholders' Equity	20,147	19,392	18,082	18,060	18,157	20,492	17,915	18,173	17,397	16,718
Total Liabilities	12,660	12,375	11,976	11,787	11,730	13,180	10,850	10,966	10,679	10,838
Total Current Liabilities	6,069	6,054	5,687	4,752	4,339	5,239	4,316	4,828	3,590	3,648
Short-Term Debt	452	802	1,048	350	776	650	351	1,107	361	504
Accounts Payable	2,148	2,025	2,092	1,787	1,520	1,381	1,705	1,556	1,334	1,249
Accrued Expenses	2,790	2,635	2,006	2,070	1,592	1,564	1,728	1,655	1,426	1,458
Current Employee Benefit Liabilities	678	592	541	545	451	442	532	510	470	437
Other Current Nonoperating Liabilities	0.00	0.00	0.00	0.00	-	1,200	-	-	-	-
Total Noncurrent Liabilities	6,591	6,321	6,290	7,034	7,391	7,941	6,534	6,138	7,089	7,190
Long-Term Debt	4,318	3,978	3,788	4,492	4,497	4,923	3,741	2,957	3,709	3,714
Noncurrent Deferred & Payable Income Tax Liabilities	587	704	680	582	579	572	538	758	885	896
Noncurrent Employee Benefit Liabilities	562	597	667	811	1,025	1,048	1,193	1,285	1,357	1,410
Other Noncurrent Operating Liabilities	1,124	1,043	1,154	1,150	1,291	1,398	1,062	1,139	1,138	1,170
Total Equity & Noncontrolling Interests	7,487	7,017	6,105	6,273	6,427	7,312	7,065	7,207	6,718	5,879
Total Preferred & Common Equity	7,457	6,995	6,089	6,256	6,408	7,268	7,023	7,140	6,644	5,817
Total Common Equity	7,457	6,995	6,089	6,256	6,408	7,268	7,023	7,140	6,644	5,817
Common Stock	249	252	253	260	263	263	266	735	618	492
Retained Earnings	9,792	9,134	8,321	8,353	8,495	9,731	9,440	8,903	8,019	6,898
Treasury Stock	-1,719	-1,719	-1,719	-1,719	-1,719	-1,719	-1,719	-1,719	-703	-453
Accumulated Other Comprehensive Income / (Loss)	-864	-671	-766	-638	-632	-1,007	-964	-779	-1,291	-1,121
Noncontrolling Interest	30	22	17	17	19	45	42	67	75	63

This table presents Trane Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	20,117	20,147	20,904	20,199	19,341	19,392	18,903	18,907	17,897	18,082	17,740
Total Current Assets	6,934	7,338	8,100	7,714	6,887	6,870	6,727	6,675	6,075	6,379	6,299
Restricted Cash	861	-	1,470	875	850	-	960	664	693	-	1,080
Short-Term Investments	0.00	0.00	458	451	-	0.00	-	-	-	-	-
Accounts Receivable	3,158	3,090	3,393	3,433	2,940	2,957	3,143	3,200	2,606	2,780	2,867
Inventories, net	2,221	1,972	2,033	2,204	2,383	2,152	2,192	2,356	2,344	1,994	1,949
Other Current Assets	695	686	745	751	715	666	433	456	432	385	402
Plant, Property, & Equipment, net	2,069	2,025	1,907	1,828	1,788	1,772	1,684	1,655	1,582	1,536	1,432
Total Noncurrent Assets	11,114	10,784	10,897	10,657	10,666	10,750	10,493	10,577	10,240	10,166	10,009
Goodwill	6,358	6,128	6,214	6,058	6,060	6,095	5,719	5,748	5,523	5,504	5,370
Intangible Assets	3,340	3,308	3,365	3,352	3,391	3,440	3,338	3,389	3,231	3,264	3,241
Other Noncurrent Operating Assets	1,416	1,348	1,319	1,248	1,215	1,215	1,436	1,440	1,486	1,399	1,397
Total Liabilities & Shareholders' Equity	20,117	20,147	20,904	20,199	19,341	19,392	18,903	18,907	17,897	18,082	17,740
Total Liabilities	12,600	12,660	13,289	13,232	12,430	12,375	12,203	12,629	11,843	11,976	11,871
Total Current Liabilities	6,367	6,069	6,629	6,592	6,102	6,054	5,214	5,593	4,831	5,687	5,546
Short-Term Debt	852	452	952	952	902	802	348	550	348	1,048	1,050
Accounts Payable	2,265	2,148	2,195	2,180	2,008	2,025	2,093	2,177	1,963	2,092	2,061
Accrued Expenses	2,791	2,790	2,864	2,965	2,759	2,635	2,258	2,442	2,166	2,006	1,956
Current Employee Benefit Liabilities	459	678	618	496	433	592	515	424	355	541	478
Total Noncurrent Liabilities	6,233	6,591	6,661	6,639	6,329	6,321	6,989	7,036	7,012	6,290	6,326
Long-Term Debt	3,920	4,318	4,317	4,316	3,979	3,978	4,476	4,477	4,482	3,788	3,788
Noncurrent Deferred & Payable Income Tax Liabilities	560	587	678	695	678	704	696	694	636	680	639
Noncurrent Employee Benefit Liabilities	563	562	576	594	602	597	625	680	675	667	731
Other Noncurrent Operating Liabilities	1,191	1,124	1,090	1,034	1,070	1,043	1,191	1,186	1,219	1,154	1,168
Total Equity & Noncontrolling Interests	7,518	7,487	7,614	6,968	6,911	7,017	6,700	6,277	6,054	6,105	5,868
Total Preferred & Common Equity	7,491	7,457	7,592	6,947	6,890	6,995	6,682	6,259	6,036	6,089	5,858
Total Common Equity	7,491	7,457	7,592	6,947	6,890	6,995	6,682	6,259	6,036	6,089	5,858
Common Stock	248	249	250	250	251	252	252	276	253	253	255
Retained Earnings	9,703	9,792	9,698	9,195	9,104	9,134	8,971	8,445	8,202	8,321	8,320
Treasury Stock	-1,719	-1,719	-1,719	-1,719	-1,719	-1,719	-1,719	-1,719	-1,719	-1,719	-1,719
Accumulated Other Comprehensive Income / (Loss)	-741	-864	-636	-778	-746	-671	-822	-743	-699	-766	-998
Noncontrolling Interest	27	30	23	20	21	22	19	18	18	17	10

This table displays calculated financial ratios and metrics derived from Trane Technologies' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.22%	10.54%	13.12%	13.50%	-4.75%	5.93%	-13.06%	5.10%	1.57%	3.18%
EBITDA Growth	22.53%	15.84%	17.02%	26.90%	-5.14%	9.62%	-11.37%	-14.17%	26.16%	3.84%
EBIT Growth	24.21%	16.96%	18.34%	31.72%	-6.38%	11.02%	-9.48%	-16.77%	33.44%	2.52%
NOPAT Growth	21.02%	16.59%	21.49%	39.57%	-14.84%	12.65%	-21.73%	16.90%	59.01%	-20.53%
Net Income Growth	26.83%	15.04%	23.53%	65.13%	-39.10%	5.23%	3.44%	-12.09%	118.61%	-28.16%
EPS Growth	28.16%	17.25%	27.43%	66.76%	-38.99%	7.85%	5.94%	-10.62%	127.82%	-27.06%
Operating Cash Flow Growth	31.64%	58.88%	-5.31%	10.68%	-25.24%	36.35%	-7.59%	0.11%	71.31%	-8.71%
Free Cash Flow Firm Growth	111.36%	9.42%	12.32%	-19.76%	-54.88%	334.89%	-24.36%	-43.36%	3,184.18%	-95.91%
Invested Capital Growth	-0.32%	10.09%	8.54%	6.50%	-2.22%	-16.12%	5.46%	7.14%	-3.06%	9.29%
Revenue Q/Q Growth	2.32%	2.02%	3.26%	2.84%	-0.04%	24.97%	-19.80%	1.86%	0.24%	0.64%
EBITDA Q/Q Growth	3.96%	3.25%	5.18%	3.19%	3.31%	23.17%	-19.87%	3.16%	-2.11%	1.18%
EBIT Q/Q Growth	4.14%	3.47%	5.63%	3.38%	4.13%	22.31%	-19.35%	3.61%	-2.12%	0.57%
NOPAT Q/Q Growth	3.10%	3.49%	7.27%	3.92%	2.61%	32.01%	-33.92%	24.36%	-2.55%	4.95%
Net Income Q/Q Growth	4.20%	3.22%	25.28%	-10.21%	-5.63%	2.86%	-12.60%	24.04%	-2.34%	-3.05%
EPS Q/Q Growth	4.46%	3.42%	8.25%	5.39%	-5.38%	3.41%	-12.58%	25.31%	-3.09%	-3.88%
Operating Cash Flow Q/Q Growth	-1.10%	7.88%	28.46%	-11.17%	-14.30%	22.77%	-9.04%	19.17%	-13.14%	21.93%
Free Cash Flow Firm Q/Q Growth	21.75%	2.86%	48.98%	-24.39%	-70.90%	642.33%	3.92%	-32.44%	-7.90%	275.82%
Invested Capital Q/Q Growth	-2.64%	1.29%	0.99%	4.26%	-0.60%	-28.45%	-1.52%	5.41%	-2.70%	-3.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	35.69%	33.13%	31.05%	31.62%	30.54%	30.52%	30.47%	30.89%	31.10%	30.25%
EBITDA Margin	19.46%	17.82%	17.00%	16.44%	14.70%	14.76%	14.27%	14.00%	17.14%	13.80%
Operating Margin	17.64%	16.37%	15.13%	14.31%	12.31%	12.77%	12.25%	11.73%	11.87%	11.22%
EBIT Margin	17.54%	15.85%	14.98%	14.32%	12.34%	12.56%	11.98%	11.51%	14.53%	11.06%
Profit (Net Income) Margin	13.05%	11.55%	11.10%	10.16%	6.99%	10.92%	11.00%	9.24%	11.05%	5.13%
Tax Burden Percent	79.88%	79.53%	81.70%	80.23%	67.54%	102.12%	107.93%	92.55%	85.72%	54.72%
Interest Burden Percent	93.15%	91.63%	90.67%	88.46%	83.82%	85.21%	85.06%	86.79%	88.72%	84.84%
Effective Tax Rate	19.36%	19.41%	17.31%	18.62%	23.04%	17.06%	18.68%	5.66%	16.17%	43.34%
Return on Invested Capital (ROIC)	26.42%	22.84%	21.42%	18.96%	13.87%	14.70%	12.31%	16.72%	14.58%	9.43%
ROIC Less NNEP Spread (ROIC-NNEP)	19.63%	14.88%	14.26%	9.97%	-5.07%	16.63%	16.79%	6.09%	19.68%	4.02%
Return on Net Nonoperating Assets (RNNOA)	9.29%	8.28%	7.25%	3.66%	-1.21%	5.18%	6.71%	2.13%	9.12%	2.02%
Return on Equity (ROE)	35.71%	31.12%	28.67%	22.62%	12.66%	19.87%	19.02%	18.85%	23.70%	11.45%
Cash Return on Invested Capital (CROIC)	26.74%	13.24%	13.23%	12.67%	16.12%	32.23%	6.99%	9.83%	17.69%	0.55%
Operating Return on Assets (OROA)	17.60%	14.95%	13.26%	11.18%	7.95%	8.55%	8.20%	9.19%	11.51%	8.65%
Return on Assets (ROA)	13.10%	10.90%	9.82%	7.93%	4.50%	7.44%	7.52%	7.38%	8.75%	4.01%
Return on Common Equity (ROCE)	35.58%	31.03%	28.60%	22.56%	12.61%	19.75%	18.88%	18.66%	23.44%	11.34%
Return on Equity Simple (ROE_SIMPLE)	34.72%	29.19%	29.15%	22.96%	13.58%	19.66%	19.33%	18.38%	22.47%	11.74%
Net Operating Profit after Tax (NOPAT)	2,822	2,332	2,000	1,646	1,180	1,385	1,230	1,571	1,344	845
NOPAT Margin	14.23%	13.19%	12.51%	11.65%	9.47%	10.59%	9.96%	11.07%	9.95%	6.35%
Net Nonoperating Expense Percent (NNEP)	6.79%	7.96%	7.16%	9.00%	18.94%	-1.93%	-4.48%	10.63%	-5.09%	5.41%
Return On Investment Capital (ROIC_SIMPLE)	23.03%	19.77%	18.28%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	64.31%	66.87%	68.95%	68.38%	69.46%	69.48%	69.53%	69.11%	68.90%	69.75%
SG&A Expenses to Revenue	18.05%	16.76%	15.92%	17.31%	18.23%	17.74%	18.22%	19.16%	19.23%	19.03%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	18.05%	16.76%	15.92%	17.31%	18.23%	17.74%	18.22%	19.16%	19.23%	19.03%
Earnings before Interest and Taxes (EBIT)	3,480	2,802	2,396	2,024	1,537	1,642	1,479	1,634	1,963	1,471
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,860	3,150	2,719	2,324	1,831	1,931	1,761	1,987	2,315	1,835
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.15	7.85	6.20	7.42	5.19	3.17	2.27	2.17	1.99	1.66
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.19	3.11	2.36	3.28	2.67	1.76	1.29	1.09	0.98	0.72
Price to Earnings (P/E)	32.37	27.15	21.48	32.62	38.93	16.32	11.90	3.97	8.95	14.51
Dividend Yield	0.91%	1.24%	1.64%	1.21%	23.04%	2.21%	3.03%	2.74%	2.66%	3.14%
Earnings Yield	3.09%	3.68%	4.66%	3.07%	2.57%	6.13%	8.40%	25.21%	11.17%	6.89%
Enterprise Value to Invested Capital (EV/IC)	8.09	5.48	4.25	5.49	4.20	3.18	1.87	1.86	1.72	1.41
Enterprise Value to Revenue (EV/Rev)	4.35	3.32	2.59	3.48	2.83	2.09	1.55	1.27	1.16	0.99
Enterprise Value to EBITDA (EV/EBITDA)	22.37	18.62	15.21	21.14	19.27	14.17	10.87	9.10	6.76	7.18
Enterprise Value to EBIT (EV/EBIT)	24.80	20.93	17.27	24.27	22.96	16.67	12.95	11.07	7.97	8.96
Enterprise Value to NOPAT (EV/NOPAT)	30.58	25.15	20.68	29.84	29.91	19.75	15.57	11.51	11.64	15.60
Enterprise Value to Operating Cash Flow (EV/OCF)	27.44	24.54	27.50	30.93	24.59	14.25	13.60	11.87	10.28	14.84
Enterprise Value to Free Cash Flow (EV/FCFF)	30.22	43.39	33.48	44.67	25.75	9.01	27.41	19.59	9.60	265.57
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.64	0.68	0.79	0.77	0.82	0.76	0.58	0.56	0.61	0.72
Long-Term Debt to Equity	0.58	0.57	0.62	0.72	0.70	0.67	0.53	0.41	0.55	0.63
Financial Leverage	0.47	0.56	0.51	0.37	0.24	0.31	0.40	0.35	0.46	0.50
Leverage Ratio	2.73	2.86	2.92	2.85	2.81	2.67	2.53	2.55	2.71	2.85
Compound Leverage Factor	2.54	2.62	2.65	2.52	2.36	2.28	2.15	2.22	2.40	2.42
Debt to Total Capital	38.92%	40.52%	44.20%	43.56%	45.06%	43.25%	36.67%	36.06%	37.73%	41.77%
Short-Term Debt to Total Capital	3.69%	6.80%	9.58%	3.15%	6.63%	5.05%	3.14%	9.82%	3.34%	4.99%
Long-Term Debt to Total Capital	35.23%	33.72%	34.62%	40.41%	38.43%	38.20%	33.53%	26.24%	34.38%	36.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.24%	0.18%	0.15%	0.15%	0.17%	0.35%	0.38%	0.59%	0.69%	0.62%
Common Equity to Total Capital	60.84%	59.30%	55.65%	56.28%	54.77%	56.40%	62.95%	63.35%	61.58%	57.61%
Debt to EBITDA	1.24	1.52	1.78	2.08	2.88	2.89	2.32	2.05	1.76	2.30
Net Debt to EBITDA	0.82	1.17	1.33	1.15	1.08	2.22	1.81	1.27	1.02	1.90
Long-Term Debt to EBITDA	1.12	1.26	1.39	1.93	2.46	2.55	2.12	1.49	1.60	2.02
Debt to NOPAT	1.69	2.05	2.42	2.94	4.47	4.02	3.33	2.59	3.03	4.99
Net Debt to NOPAT	1.13	1.58	1.81	1.63	1.68	3.10	2.59	1.60	1.75	4.12
Long-Term Debt to NOPAT	1.53	1.71	1.89	2.73	3.81	3.55	3.04	1.88	2.76	4.39
Altman Z-Score	6.25	4.76	3.90	4.28	3.49	2.85	2.67	2.70	2.67	2.27
Noncontrolling Interest Sharing Ratio	0.35%	0.29%	0.27%	0.29%	0.47%	0.60%	0.76%	1.01%	1.09%	1.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.21	1.13	1.12	1.36	1.59	1.77	1.33	1.27	1.55	1.26
Quick Ratio	0.77	0.67	0.70	0.97	1.27	0.66	0.83	0.83	1.10	0.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,857	1,352	1,235	1,100	1,371	3,038	699	923	1,630	50
Operating Cash Flow to CapEx	859.69%	819.76%	533.14%	763.97%	982.20%	944.64%	511.93%	693.13%	878.70%	384.42%
Free Cash Flow to Firm to Interest Expense	11.98	5.76	5.53	4.71	5.51	12.51	3.16	4.28	7.36	0.22
Operating Cash Flow to Interest Expense	13.19	10.19	6.73	6.80	5.77	7.91	6.37	7.06	6.87	3.98
Operating Cash Flow Less CapEx to Interest Expense	11.66	8.95	5.47	5.91	5.18	7.07	5.13	6.04	6.09	2.95
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.00	0.94	0.89	0.78	0.64	0.68	0.68	0.80	0.79	0.78
Accounts Receivable Turnover	6.56	6.16	6.14	6.10	5.68	5.38	4.79	6.04	6.18	6.23
Inventory Turnover	6.19	5.70	6.26	7.11	7.01	6.15	5.31	6.67	6.66	6.70
Fixed Asset Turnover	10.45	10.69	10.90	10.29	0.00	0.00	7.52	9.27	8.75	8.72
Accounts Payable Turnover	6.11	5.74	5.69	5.85	5.96	5.89	5.26	6.79	7.21	7.31
Days Sales Outstanding (DSO)	55.63	59.23	59.45	59.79	64.28	67.88	76.24	60.42	59.09	58.58
Days Inventory Outstanding (DIO)	58.99	64.01	58.33	51.35	52.06	59.39	68.75	54.71	54.83	54.48
Days Payable Outstanding (DPO)	59.70	63.56	64.20	62.44	61.21	62.00	69.35	53.76	50.65	49.95
Cash Conversion Cycle (CCC)	54.92	59.68	53.59	48.70	55.13	65.27	75.64	61.37	63.27	63.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	10,667	10,702	9,721	8,956	8,409	8,600	10,253	9,722	9,074	9,360
Invested Capital Turnover	1.86	1.73	1.71	1.63	1.46	1.39	1.24	1.51	1.47	1.48
Increase / (Decrease) in Invested Capital	-34	981	765	547	-191	-1,653	531	648	-286	796
Enterprise Value (EV)	86,322	58,651	41,360	49,130	35,285	27,362	19,144	18,085	15,647	13,184
Market Capitalization	83,113	54,944	37,728	46,430	33,284	23,023	15,914	15,504	13,217	9,641
Book Value per Share	$33.14	$30.74	$26.44	$26.34	$26.68	$30.33	$28.59	$28.58	$25.72	$22.28
Tangible Book Value per Share	($8.79)	($11.16)	($11.63)	($10.75)	($9.25)	($4.93)	($10.47)	($10.16)	($10.84)	($14.71)
Total Capital	12,257	11,797	10,942	11,115	11,699	12,886	11,156	11,271	10,789	10,097
Total Debt	4,770	4,780	4,836	4,842	5,272	5,573	4,091	4,064	4,070	4,218
Total Long-Term Debt	4,318	3,978	3,788	4,492	4,497	4,923	3,741	2,957	3,709	3,714
Net Debt	3,180	3,685	3,616	2,683	1,982	4,295	3,188	2,515	2,356	3,481
Capital Expenditures (CapEx)	366	292	282	208	146	203	275	220	173	231
Debt-free, Cash-free Net Working Capital (DFCFNWC)	131	523	520	-90	52	3,427	864	849	635	728
Debt-free Net Working Capital (DFNWC)	1,721	1,618	1,740	2,069	3,342	4,706	1,767	2,398	2,350	1,465
Net Working Capital (NWC)	1,269	816	692	1,719	2,567	4,055	1,416	1,291	1,989	961
Net Nonoperating Expense (NNE)	233	290	226	210	310	-43	-128	259	-149	162
Net Nonoperating Obligations (NNO)	3,180	3,685	3,616	2,683	1,982	1,288	3,188	2,515	2,356	3,481
Total Depreciation and Amortization (D&A)	379	348	324	299	294	289	282	353	352	364
Debt-free, Cash-free Net Working Capital to Revenue	0.66%	2.96%	3.25%	-0.64%	0.42%	26.21%	7.00%	5.98%	4.70%	5.48%
Debt-free Net Working Capital to Revenue	8.68%	9.15%	10.88%	14.64%	26.84%	35.99%	14.31%	16.89%	17.39%	11.02%
Net Working Capital to Revenue	6.40%	4.62%	4.33%	12.16%	20.61%	31.01%	11.47%	9.09%	14.72%	7.23%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$11.35	$8.85	$7.55	$5.96	$3.56	$5.84	$5.41	$5.11	$5.70	$2.51
Adjusted Weighted Average Basic Shares Outstanding	224.29M	227.07M	229.07M	233.54M	238.43M	238.40M	242.17M	249.89M	259.51M	256.85M
Adjusted Diluted Earnings per Share	$11.24	$8.77	$7.48	$5.87	$3.52	$5.77	$5.35	$5.05	$5.65	$2.48
Adjusted Weighted Average Diluted Shares Outstanding	224.29M	227.07M	229.07M	233.54M	238.43M	238.40M	242.17M	249.89M	259.51M	256.85M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$5.84	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	224.29M	227.07M	229.07M	233.54M	238.43M	238.40M	242.17M	249.89M	259.51M	256.85M
Normalized Net Operating Profit after Tax (NOPAT)	2,822	2,332	2,000	1,646	1,180	1,385	1,230	1,571	1,344	845
Normalized NOPAT Margin	14.23%	13.19%	12.51%	11.65%	9.47%	10.59%	9.96%	11.07%	9.95%	6.35%
Pre Tax Income Margin	16.34%	14.52%	13.58%	12.67%	10.34%	10.70%	10.19%	9.99%	12.89%	9.38%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	14.60	11.95	10.72	8.66	6.18	6.76	6.69	7.57	8.86	6.60
NOPAT to Interest Expense	11.84	9.95	8.95	7.05	4.74	5.71	5.56	7.28	6.07	3.79
EBIT Less CapEx to Interest Expense	13.06	10.70	9.46	7.77	5.59	5.92	5.45	6.55	8.08	5.56
NOPAT Less CapEx to Interest Expense	10.30	8.70	7.69	6.16	4.16	4.87	4.32	6.26	5.29	2.75
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.77%	34.12%	35.76%	40.09%	60.41%	36.81%	38.37%	34.50%	24.30%	45.78%
Augmented Payout Ratio	79.23%	66.90%	103.39%	116.69%	89.15%	89.32%	104.69%	111.99%	41.05%	82.41%

This table displays calculated financial ratios and metrics derived from Trane Technologies' official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.22%	10.17%	11.43%	12.81%	15.00%	8.60%	11.69%	12.27%	9.25%	14.14%	17.53%
EBITDA Growth	29.96%	19.34%	18.99%	22.90%	32.83%	15.01%	17.58%	16.18%	13.43%	25.41%	24.05%
EBIT Growth	33.21%	20.56%	20.69%	24.41%	36.08%	16.24%	18.51%	16.78%	15.46%	28.34%	25.03%
NOPAT Growth	31.19%	14.56%	20.14%	18.26%	38.10%	15.83%	11.27%	22.69%	17.17%	37.30%	31.30%
Net Income Growth	38.49%	20.55%	23.03%	28.64%	41.37%	14.32%	14.46%	14.72%	18.11%	416.88%	35.16%
EPS Growth	40.53%	22.12%	24.63%	29.41%	42.86%	15.43%	16.24%	18.06%	20.91%	43.51%	39.29%
Operating Cash Flow Growth	37.34%	-3.73%	41.23%	32.81%	2,808.24%	22.95%	80.77%	24.26%	104.52%	78.01%	24.26%
Free Cash Flow Firm Growth	178.03%	272.98%	279.54%	217.28%	23.13%	-51.32%	40.34%	-16.88%	58.64%	-45.14%	-219.66%
Invested Capital Growth	4.45%	-0.32%	3.70%	2.53%	7.36%	10.09%	9.76%	12.17%	7.15%	8.54%	12.06%
Revenue Q/Q Growth	-3.81%	-10.42%	2.52%	25.90%	-4.72%	-9.39%	3.79%	28.34%	-10.02%	-6.82%	4.33%
EBITDA Q/Q Growth	0.33%	-19.43%	-0.04%	60.83%	-7.87%	-19.67%	3.25%	73.82%	-20.23%	-17.87%	2.02%
EBIT Q/Q Growth	0.07%	-21.39%	0.08%	69.20%	-9.43%	-21.31%	3.16%	85.07%	-22.64%	-19.77%	1.66%
NOPAT Q/Q Growth	1.53%	-20.51%	2.15%	59.13%	-11.34%	-16.64%	0.55%	85.83%	-25.64%	-19.92%	10.87%
Net Income Q/Q Growth	-0.46%	-21.34%	2.37%	72.78%	-13.36%	-19.72%	7.04%	89.87%	-29.93%	-19.62%	7.28%
EPS Q/Q Growth	0.75%	-21.83%	2.73%	73.68%	-12.44%	-20.22%	6.67%	91.73%	-29.26%	-19.66%	8.33%
Operating Cash Flow Q/Q Growth	-62.27%	-30.92%	87.18%	181.51%	-73.56%	1.36%	76.01%	6,064.71%	-98.88%	49.02%	20.99%
Free Cash Flow Firm Q/Q Growth	-73.35%	57.61%	-19.03%	329.49%	40.93%	-63.58%	47.11%	-50.41%	-16.28%	35.50%	-3.62%
Invested Capital Q/Q Growth	7.14%	-2.64%	0.42%	-0.29%	2.24%	1.29%	-0.71%	4.40%	4.84%	0.99%	1.48%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	35.78%	35.10%	36.29%	36.47%	34.63%	33.25%	33.96%	33.68%	31.19%	29.94%	32.77%
EBITDA Margin	19.41%	18.61%	20.69%	21.22%	16.61%	17.18%	19.38%	19.48%	14.38%	16.22%	18.41%
Operating Margin	17.47%	16.57%	18.83%	19.49%	15.04%	15.54%	17.70%	18.82%	12.46%	14.25%	16.91%
EBIT Margin	17.30%	16.63%	18.95%	19.41%	14.44%	15.19%	17.49%	17.60%	12.20%	14.20%	16.49%
Profit (Net Income) Margin	12.99%	12.55%	14.30%	14.32%	10.43%	11.47%	12.95%	12.56%	8.49%	10.90%	12.64%
Tax Burden Percent	80.90%	81.52%	80.37%	78.13%	79.86%	82.56%	79.40%	77.07%	79.81%	84.98%	83.07%
Interest Burden Percent	92.84%	92.62%	93.89%	94.42%	90.46%	91.46%	93.22%	92.56%	87.13%	90.35%	92.26%
Effective Tax Rate	17.92%	18.01%	18.71%	21.16%	19.16%	15.96%	19.78%	22.13%	18.78%	14.07%	15.74%
Return on Invested Capital (ROIC)	26.03%	25.22%	27.58%	26.85%	20.97%	22.61%	24.37%	24.49%	16.75%	20.97%	24.23%
ROIC Less NNEP Spread (ROIC-NNEP)	24.45%	23.76%	26.05%	25.51%	19.19%	20.69%	22.77%	22.05%	15.18%	19.23%	21.82%
Return on Net Nonoperating Assets (RNNOA)	13.46%	11.25%	13.12%	16.00%	12.09%	11.51%	13.81%	14.88%	9.60%	9.78%	10.35%
Return on Equity (ROE)	39.49%	36.47%	40.70%	42.84%	33.06%	34.12%	38.18%	39.37%	26.34%	30.76%	34.58%
Cash Return on Invested Capital (CROIC)	22.31%	26.74%	21.81%	21.61%	16.31%	13.24%	13.02%	10.23%	13.95%	13.23%	9.10%
Operating Return on Assets (OROA)	17.81%	16.68%	18.46%	18.69%	14.14%	14.33%	16.54%	16.18%	11.20%	12.56%	14.21%
Return on Assets (ROA)	13.37%	12.60%	13.93%	13.79%	10.21%	10.82%	12.25%	11.54%	7.79%	9.64%	10.89%
Return on Common Equity (ROCE)	39.36%	36.34%	40.58%	42.72%	32.96%	34.02%	38.09%	39.26%	26.27%	30.67%	34.52%
Return on Equity Simple (ROE_SIMPLE)	36.83%	0.00%	32.74%	33.68%	31.50%	0.00%	29.60%	30.33%	30.19%	0.00%	24.18%
Net Operating Profit after Tax (NOPAT)	672	662	833	815	512	578	693	689	371	499	623
NOPAT Margin	14.34%	13.58%	15.31%	15.36%	12.15%	13.06%	14.20%	14.65%	10.12%	12.25%	14.25%
Net Nonoperating Expense Percent (NNEP)	1.59%	1.46%	1.53%	1.34%	1.78%	1.93%	1.60%	2.44%	1.57%	1.74%	2.41%
Return On Investment Capital (ROIC_SIMPLE)	5.47%	5.40%	-	-	-	4.90%	-	-	-	4.56%	-
Cost of Revenue to Revenue	64.22%	64.90%	63.71%	63.53%	65.37%	66.75%	66.04%	66.32%	68.81%	70.06%	67.23%
SG&A Expenses to Revenue	18.31%	18.53%	17.46%	16.98%	19.60%	17.71%	16.26%	14.86%	18.73%	15.69%	15.86%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	18.31%	18.53%	17.46%	16.98%	19.60%	17.71%	16.26%	14.86%	18.73%	15.69%	15.86%
Earnings before Interest and Taxes (EBIT)	811	810	1,031	1,030	609	672	854	828	447	578	721
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	910	907	1,126	1,126	700	760	946	916	527	661	805
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	10.09	11.15	11.56	10.72	9.92	7.85	6.86	6.88	6.88	6.20	5.62
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.72	4.19	4.52	3.95	3.75	3.11	2.64	2.56	2.55	2.36	2.12
Price to Earnings (P/E)	27.61	32.37	35.55	32.06	31.73	27.15	23.39	22.91	23.03	21.48	23.51
Dividend Yield	1.03%	0.91%	0.84%	0.97%	1.03%	1.24%	1.46%	1.50%	1.52%	1.64%	1.83%
Earnings Yield	3.62%	3.09%	2.81%	3.12%	3.15%	3.68%	4.28%	4.37%	4.34%	4.66%	4.25%
Enterprise Value to Invested Capital (EV/IC)	6.96	8.09	8.31	7.19	6.61	5.48	4.70	4.46	4.48	4.25	3.81
Enterprise Value to Revenue (EV/Rev)	3.91	4.35	4.70	4.16	3.97	3.32	2.87	2.82	2.80	2.59	2.37
Enterprise Value to EBITDA (EV/EBITDA)	19.54	22.37	24.54	22.20	21.78	18.62	16.29	16.31	16.43	15.21	14.19
Enterprise Value to EBIT (EV/EBIT)	21.59	24.80	27.26	24.77	24.42	20.93	18.35	18.43	18.61	17.27	16.17
Enterprise Value to NOPAT (EV/NOPAT)	26.66	30.58	33.27	30.19	29.25	25.15	22.06	21.73	22.24	20.68	19.67
Enterprise Value to Operating Cash Flow (EV/OCF)	24.55	27.44	28.64	28.00	27.53	24.54	22.44	26.32	26.87	27.50	31.33
Enterprise Value to Free Cash Flow (EV/FCFF)	31.86	30.22	38.82	33.68	41.99	43.39	37.82	46.10	33.24	33.48	44.23
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.63	0.64	0.69	0.76	0.71	0.68	0.72	0.80	0.80	0.79	0.82
Long-Term Debt to Equity	0.52	0.58	0.57	0.62	0.58	0.57	0.67	0.71	0.74	0.62	0.65
Financial Leverage	0.55	0.47	0.50	0.63	0.63	0.56	0.61	0.67	0.63	0.51	0.47
Leverage Ratio	2.73	2.73	2.78	2.95	2.87	2.86	2.92	3.04	2.94	2.92	2.91
Compound Leverage Factor	2.54	2.52	2.61	2.79	2.60	2.61	2.72	2.82	2.56	2.64	2.68
Debt to Total Capital	38.83%	38.92%	40.90%	43.06%	41.39%	40.52%	41.86%	44.47%	44.38%	44.20%	45.18%
Short-Term Debt to Total Capital	6.93%	3.69%	7.39%	7.78%	7.65%	6.80%	3.02%	4.87%	3.20%	9.58%	9.81%
Long-Term Debt to Total Capital	31.90%	35.23%	33.51%	35.28%	33.74%	33.72%	38.84%	39.60%	41.18%	34.62%	35.38%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.22%	0.24%	0.18%	0.17%	0.18%	0.18%	0.16%	0.16%	0.17%	0.15%	0.09%
Common Equity to Total Capital	60.96%	60.84%	58.92%	56.78%	58.43%	59.30%	57.98%	55.37%	55.46%	55.65%	54.72%
Debt to EBITDA	1.17	1.24	1.42	1.49	1.47	1.52	1.58	1.73	1.74	1.78	1.87
Net Debt to EBITDA	0.96	0.82	0.90	1.12	1.21	1.17	1.27	1.50	1.49	1.33	1.45
Long-Term Debt to EBITDA	0.96	1.12	1.16	1.22	1.20	1.26	1.47	1.54	1.61	1.39	1.47
Debt to NOPAT	1.60	1.69	1.92	2.03	1.97	2.05	2.14	2.30	2.35	2.42	2.59
Net Debt to NOPAT	1.31	1.13	1.22	1.52	1.63	1.58	1.72	2.00	2.01	1.81	2.01
Long-Term Debt to NOPAT	1.31	1.53	1.58	1.66	1.61	1.71	1.99	2.05	2.18	1.89	2.03
Altman Z-Score	5.45	5.81	5.78	5.18	5.05	4.40	4.08	3.77	3.82	3.57	3.38
Noncontrolling Interest Sharing Ratio	0.33%	0.35%	0.29%	0.29%	0.30%	0.29%	0.23%	0.28%	0.30%	0.27%	0.18%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.09	1.21	1.22	1.17	1.13	1.13	1.29	1.19	1.26	1.12	1.14
Quick Ratio	0.50	0.77	0.58	0.59	0.48	0.67	0.60	0.57	0.54	0.70	0.52
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	186	696	442	546	-238	-403	-246	-465	-309	-266	-413
Operating Cash Flow to CapEx	285.53%	716.48%	1,475.20%	954.60%	294.99%	1,119.52%	1,108.53%	920.91%	11.02%	854.27%	866.21%
Free Cash Flow to Firm to Interest Expense	3.19	11.65	7.01	9.49	-4.09	-7.01	-4.25	-7.55	-5.37	-4.77	-7.39
Operating Cash Flow to Interest Expense	5.84	15.05	20.68	12.10	4.25	16.29	15.93	8.51	0.15	13.63	9.14
Operating Cash Flow Less CapEx to Interest Expense	3.80	12.95	19.27	10.83	2.81	14.83	14.49	7.58	-1.19	12.03	8.09
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.03	1.00	0.97	0.96	0.98	0.94	0.95	0.92	0.92	0.89	0.86
Accounts Receivable Turnover	6.66	6.56	5.93	5.68	6.57	6.16	5.77	5.64	6.47	6.14	5.84
Inventory Turnover	5.65	6.19	5.94	5.40	5.10	5.70	5.66	5.39	5.30	6.26	6.24
Fixed Asset Turnover	10.53	10.45	10.80	10.81	10.82	10.69	11.12	10.92	10.85	10.90	11.19
Accounts Payable Turnover	6.09	6.11	5.85	5.65	6.07	5.74	5.64	5.48	5.74	5.69	5.60
Days Sales Outstanding (DSO)	54.79	55.63	61.52	64.29	55.53	59.23	63.30	64.66	56.38	59.45	62.45
Days Inventory Outstanding (DIO)	64.56	58.99	61.46	67.62	71.56	64.01	64.47	67.71	68.80	58.33	58.53
Days Payable Outstanding (DPO)	59.93	59.70	62.37	64.62	60.12	63.56	64.68	66.66	63.55	64.20	65.14
Cash Conversion Cycle (CCC)	59.42	54.92	60.61	67.29	66.97	59.68	63.09	65.71	61.63	53.59	55.85
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,428	10,667	10,956	10,910	10,942	10,702	10,565	10,640	10,192	9,721	9,626
Invested Capital Turnover	1.82	1.86	1.80	1.75	1.73	1.73	1.72	1.67	1.65	1.71	1.70
Increase / (Decrease) in Invested Capital	487	-34	391	270	750	981	939	1,155	680	765	1,036
Enterprise Value (EV)	79,505	86,322	91,089	78,417	72,365	58,651	49,701	47,451	45,690	41,360	36,676
Market Capitalization	75,568	83,113	87,725	74,454	68,313	54,944	45,817	43,070	41,535	37,728	32,909
Book Value per Share	$33.40	$33.14	$33.64	$30.69	$30.30	$30.74	$29.26	$27.44	$26.35	$26.44	$25.28
Tangible Book Value per Share	($9.84)	($8.79)	($8.81)	($10.88)	($11.26)	($11.16)	($10.40)	($12.62)	($11.86)	($11.63)	($11.88)
Total Capital	12,289	12,257	12,884	12,236	11,792	11,797	11,525	11,304	10,884	10,942	10,706
Total Debt	4,771	4,770	5,269	5,268	4,881	4,780	4,825	5,027	4,830	4,836	4,837
Total Long-Term Debt	3,920	4,318	4,317	4,316	3,979	3,978	4,476	4,477	4,482	3,788	3,788
Net Debt	3,911	3,180	3,342	3,942	4,031	3,685	3,865	4,363	4,137	3,616	3,757
Capital Expenditures (CapEx)	119	126	88	73	84	84	83	57	77	89	59
Debt-free, Cash-free Net Working Capital (DFCFNWC)	558	131	495	748	838	523	901	968	899	520	723
Debt-free Net Working Capital (DFNWC)	1,419	1,721	2,423	2,074	1,687	1,618	1,861	1,632	1,592	1,740	1,804
Net Working Capital (NWC)	567	1,269	1,471	1,122	785	816	1,513	1,082	1,243	692	754
Net Nonoperating Expense (NNE)	63	50	55	55	73	70	61	99	60	55	71
Net Nonoperating Obligations (NNO)	3,911	3,180	3,342	3,942	4,031	3,685	3,865	4,363	4,137	3,616	3,757
Total Depreciation and Amortization (D&A)	99	97	95	96	92	88	92	88	80	83	84
Debt-free, Cash-free Net Working Capital to Revenue	2.75%	0.66%	2.56%	3.97%	4.59%	2.96%	5.20%	5.76%	5.51%	3.25%	4.67%
Debt-free Net Working Capital to Revenue	6.99%	8.68%	12.50%	11.01%	9.26%	9.15%	10.74%	9.70%	9.76%	10.88%	11.65%
Net Working Capital to Revenue	2.79%	6.40%	7.59%	5.96%	4.31%	4.62%	8.73%	6.43%	7.63%	4.33%	4.87%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.70	$2.68	$3.42	$3.33	$1.92	$2.20	$2.74	$2.57	$1.34	$1.90	$2.36
Adjusted Weighted Average Basic Shares Outstanding	224.40M	224.29M	225.80M	226.60M	227.40M	227.07M	228.60M	228.50M	229.30M	229.07M	231.90M
Adjusted Diluted Earnings per Share	$2.67	$2.65	$3.39	$3.30	$1.90	$2.17	$2.72	$2.55	$1.33	$1.88	$2.34
Adjusted Weighted Average Diluted Shares Outstanding	226.40M	224.29M	228M	228.70M	229.50M	227.07M	230.60M	230.30M	231.50M	229.07M	234M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	223.02M	224.29M	225.02M	225.67M	226.35M	227.07M	227.56M	228.40M	228.05M	229.07M	230.31M
Normalized Net Operating Profit after Tax (NOPAT)	672	662	833	815	512	578	693	689	371	499	623
Normalized NOPAT Margin	14.34%	13.58%	15.31%	15.36%	12.15%	13.06%	14.20%	14.65%	10.12%	12.25%	14.25%
Pre Tax Income Margin	16.06%	15.40%	17.79%	18.33%	13.06%	13.90%	16.31%	16.29%	10.63%	12.83%	15.21%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	13.96	13.55	16.36	17.91	10.48	11.71	14.75	13.44	7.77	10.36	12.92
NOPAT to Interest Expense	11.57	11.07	13.22	14.18	8.82	10.07	11.97	11.19	6.44	8.94	11.17
EBIT Less CapEx to Interest Expense	11.91	11.45	14.96	16.65	9.04	10.26	13.32	12.52	6.43	8.77	11.86
NOPAT Less CapEx to Interest Expense	9.52	8.97	11.82	12.91	7.38	8.61	10.54	10.27	5.10	7.35	10.11
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	28.85%	29.77%	30.32%	31.46%	32.98%	34.12%	34.30%	34.93%	35.64%	35.76%	43.82%
Augmented Payout Ratio	81.70%	79.23%	76.01%	73.93%	63.83%	66.90%	72.71%	79.72%	98.75%	103.39%	142.66%

Frequently Asked Questions About Trane Technologies' Financials

When does Trane Technologies's financial year end?

According to the most recent income statement we have on file, Trane Technologies' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Trane Technologies' net income changed over the last 9 years?

Trane Technologies' net income appears to be on an upward trend, with a most recent value of $2.59 billion in 2024, rising from $682.80 million in 2015. The previous period was $2.04 billion in 2023. See Trane Technologies' forecast for analyst expectations on what’s next for the company.

What is Trane Technologies's operating income?

Trane Technologies's total operating income in 2024 was $3.50 billion, based on the following breakdown:

Total Gross Profit: $7.08 billion
Total Operating Expenses: $3.58 billion

How has Trane Technologies revenue changed over the last 9 years?

Over the last 9 years, Trane Technologies' total revenue changed from $13.30 billion in 2015 to $19.84 billion in 2024, a change of 49.2%.

How much debt does Trane Technologies have?

Trane Technologies' total liabilities were at $12.66 billion at the end of 2024, a 2.3% increase from 2023, and a 16.8% increase since 2015.

How much cash does Trane Technologies have?

In the past 9 years, Trane Technologies' cash and equivalents has ranged from $736.80 million in 2015 to $3.29 billion in 2020, and is currently $1.59 billion as of their latest financial filing in 2024.

How has Trane Technologies' book value per share changed over the last 9 years?

Over the last 9 years, Trane Technologies' book value per share changed from 22.28 in 2015 to 33.14 in 2024, a change of 48.7%.

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This page (NYSE:TT) was last updated on 5/21/2025 by MarketBeat.com Staff

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Trane Technologies (TT) Financials

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Trane Technologies (TT) Financials

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