Trane Technologies plc (TT) Financial Statements

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Trane Technologies financial statements at a glance

Trane Technologies reported revenue of $21.32 billion for fiscal year 2025 (ended December 31, 2025), up 7.5% from fiscal year 2024. Net income was $2.92 billion, a net margin of 13.7%, and diluted earnings per share were $12.98.

At the end of fiscal year 2025 it had total assets of $21.42 billion, total liabilities of $12.82 billion and shareholders' equity of $8.58 billion, with cash and short-term investments of $1.76 billion and total debt of $4.62 billion.

Its operations brought in $3.19 billion of cash; capital spending was $383.00 million, leaving free cash flow of $2.81 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

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Trane Technologies plc

TTIreland
Manufacturing and Production
USD (Local)

Income Statement

Annual • USD

Total Revenue
21.32B
Prev Year: 19.84B
YoY: +7.5%
Operating Revenue
21.32B
Prev Year: 19.84B
YoY: +7.5%
Total Unusual Items Excluding Goodwill
-15.40M
Prev Year: -24.10M
YoY: +36.1%
Total Unusual Items
-15.40M
Prev Year: -24.10M
YoY: +36.1%
Normalized EBITDA
4.30B
Prev Year: 3.88B
YoY: +10.6%
Tax Rate for Calcs
0.192
Prev Year: 0
Tax Effect of Unusual Items
-2.96M
Prev Year: -4.68M
YoY: +36.8%
Net Income from Discontinued Operations
-37.00M
Prev Year: -24.70M
YoY: -49.8%
Other Income Expense
-71.10M
Prev Year: -55.80M
YoY: -27.4%
Other Non-operating Income (expense)
-55.70M
Prev Year: -31.70M
YoY: -75.7%
Gain on Sale of Securities
-15.40M
Prev Year: -24.10M
YoY: +36.1%
Selling General and Administrative
3.74B
Prev Year: 3.58B
YoY: +4.5%
Cost of Revenue
13.61B
Prev Year: 12.76B
YoY: +6.7%
Gross Profit
7.71B
Prev Year: 7.08B
YoY: +8.9%
Operating Expense
3.74B
Prev Year: 3.58B
YoY: +4.5%
Operating Income
3.97B
Prev Year: 3.50B
YoY: +13.4%
Net Non Operating Interest Income Expense
-217.70M
Prev Year: -202.50M
YoY: -7.5%
Non-operating Interest Income
9.00M
Prev Year: 35.90M
YoY: -74.9%
Non-operating Interest Expense
226.70M
Prev Year: 238.40M
YoY: -4.9%
Pre-tax Income
3.68B
Prev Year: 3.24B
YoY: +13.5%
Provision for Income Taxes
705.90M
Prev Year: 627.60M
YoY: +12.5%
Net Income Common Stockholders
2.92B
Prev Year: 2.57B
YoY: +13.7%
Net Income
2.92B
Prev Year: 2.57B
YoY: +13.7%
Net Income Including Non-Controlling Interests
2.94B
Prev Year: 2.59B
YoY: +13.4%
Net Income from Continuing Operations
2.97B
Prev Year: 2.61B
YoY: +13.7%
Noncontrolling Interests
-17.10M
Prev Year: -21.60M
YoY: +20.8%
Diluted NI Available to Com Stockholders
2.92B
Prev Year: 2.57B
YoY: +13.7%
Basic EPS
13.178
Diluted EPS
12.98
Weighted Average Shares (basic)
221.47M
Weighted Average Shares (diluted)
224.90M
Total Operating Income as Reported
3.97B
Prev Year: 3.50B
YoY: +13.4%
Total Expenses
17.35B
Prev Year: 16.34B
YoY: +6.2%
Net Income from Continuing and Discontinued Operation
2.92B
Prev Year: 2.57B
YoY: +13.7%
Normalized Income
2.97B
Prev Year: 2.61B
YoY: +13.6%
Interest Income
9.00M
Prev Year: 35.90M
YoY: -74.9%
Interest Expense
226.70M
Prev Year: 238.40M
YoY: -4.9%
Net Interest Income
-217.70M
Prev Year: -202.50M
YoY: -7.5%
EBIT
3.91B
Prev Year: 3.48B
YoY: +12.2%
EBITDA
4.28B
Prev Year: 3.86B
YoY: +10.9%
Reconciled Cost of Revenue
13.61B
Prev Year: 12.76B
YoY: +6.7%
Reconciled Depreciation
376.30M
Prev Year: 379.40M
YoY: -0.8%
Net Income from Continuing Operation Net Minority Interest
2.96B
Prev Year: 2.59B
YoY: +14.0%
Values in USD

Trane Technologies key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$21.3B$19.8B$17.7B$16.0B$14.1B
Gross profit$7.7B$7.1B$5.9B$5.0B$4.5B
Operating income$4.0B$3.5B$2.9B$2.4B$2.0B
Net income$2.9B$2.6B$2.0B$1.8B$1.4B
Diluted EPS$12.98–$8.77$7.48$5.87
Total assets$21.4B$20.1B$19.4B$18.1B$18.1B
Total liabilities$12.8B$12.7B$12.4B$12.0B$11.8B
Shareholders' equity$8.6B$7.5B$7.0B$6.1B$6.3B
Cash and short-term investments$1.8B$1.6B$1.1B$1.2B$2.2B
Total debt$4.6B$4.8B$4.8B$4.8B$4.8B
Operating cash flow$3.2B$3.1B$2.4B$1.5B$1.6B
Capital spending$383.0M$370.6M$300.7M$291.8M$223.0M
Free cash flow$2.8B$2.8B$2.1B$1.2B$1.4B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was Trane Technologies's revenue in fiscal year 2025?

$21.32 billion, up 7.5% from $19.84 billion in fiscal year 2024.

How much profit does Trane Technologies make?

Trane Technologies reported net income of $2.92 billion for fiscal year 2025 (13.7% of revenue); operating income was $3.97 billion.

How much cash and debt does Trane Technologies have?

At the end of fiscal year 2025: cash and short-term investments of $1.76 billion and total debt of $4.62 billion.

What is Trane Technologies's free cash flow?

$2.81 billion in fiscal year 2025 (operating cash flow of $3.19 billion minus capital spending of $383.00 million).

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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