FirmAtlas
Company handbook · TT · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
TT · CIK 1466258 · LATEST FILING: 10-Q JUN '26 · FILED JUL 30, 2026
TRANE TECHNOLOGIES PLC
$458.89
+1.53 (+0.33%)
Close, Oct 16, 2026 · 52-week $348–506
Last fiscal year
TRANE TECHNOLOGIES PLC reported revenue of $21.3B for the year ended Dec 31, 2025 (FY25), up 7.5% from FY24. Net income was $2.9B, operating cash flow $3.2B and free cash flow $2.8B. Source: 10-K filed Feb 5, 2026.
Market cap
$103.2B
P/E
35.0
EV/EBITDA
25.4x
P/B
12.0
Div yield
0.69%
ROIC
29.1%
Revenue 1Y
7.5%/yr
EPS 1Y
15.5%/yr
Shares 1Y
−10%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEODavid S. Regnery
HQCo. Dublin, Ireland
AuditorPricewaterhouseCoopers LLP
Employees44,000
Year endsDecember
Revenue by segment · FY25
Product66%
Service34%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
21.4%
21.4%
30.2%
10.3%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$5.6B deployed
Capex
$754M
13.5%
Acquisitions
$456M
8.2%
Dividends
$1.6B
28.6%
Buybacks
$2.8B
49.6%
Operating cash flow over the period: $6.3B. Total debt changed by −$155M. R&D of $657M is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
19,838
21,322+7.5%
22,210
YoY
+7.5%
Operating income
3,500
3,967+13.4%
3,985
Operating margin
17.6%
18.6%+1.0 pp
—
EBITDA
3,694
4,175+13.0%
—
EBITDA margin
18.6%
19.6%+1.0 pp
—
Interest expense
238
227−4.9%
—
Interest coverage
15.50x
18.42x+2.92x
—
Net income
2,568
2,919+13.7%
2,949
YoY
+13.7%
Net margin
12.9%
13.7%+0.7 pp
—
EPS (diluted, $)
11.24
12.98+15.5%
13.19
YoY
+15.5%
Balance sheet
Total assets
20,147
21,421+6.3%
23,926
Cash & short-term investments
1,590
1,763+10.9%
—
Accounts receivable
3,090
3,235+4.7%
—
Inventory
1,972
2,104+6.7%
—
Net PP&E
2,024
2,251+11.2%
—
Other assets
11,470
12,067+5.2%
—
Total liabilities
12,689
12,842+1.2%
15,303
Accounts payable
2,148
2,154+0.3%
—
Total debt
4,770
4,615−3.3%
3,924
Other liabilities
5,771
6,072+5.2%
—
Shareholders’ equity
7,457
8,579+15.0%
8,623
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
3,146
3,194+1.6%
3,877
Net income
2,590
2,936+13.4%
—
Depreciation & amortization
194
207+6.9%
—
Stock-based compensation
83
87+4.5%
—
Working capital & other
279
(35)−112.6%
—
Cash from investing
(563)
(640)n/m
—
Capex
(371)
(383)n/m
—
PP&E sold
5
21+338.3%
—
Acquisitions
(180)
(276)n/m
—
Investments bought
(450)
0n/m
—
Other investing
433
(2)−100.4%
—
Cash from financing
(2,021)
(2,496)n/m
—
Debt raised
498
0−100.0%
—
Debt repaid
(508)
(159)n/m
—
Dividends
(758)
(837)n/m
—
Buybacks
(1,281)
(1,481)n/m
—
Shares issued
47
13−73.1%
—
Other financing
(20)
(31)n/m
—
Net change in cash
495
173−65.0%
—
Free cash flow (OCF − capex)
2,775
2,812+1.3%
3,546
Where the cash went
Operating cash flow
3,146
3,194+1.6%
3,877
Reinvested in the business
551
659+19.6%
—
% of operating cash flow
17.5%
20.6%
Capex
371
383+3.3%
330
Acquisitions
180
276+53.1%
—
R&D (memo, already in costs)
310
348+12.3%
—
Free cash flow
2,775
2,812+1.3%
3,546
YoY
+1.3%
Returned to shareholders
2,038
2,319+13.8%
—
% of free cash flow
73.5%
82.5%
Dividends
758
837+10.5%
—
Buybacks
1,281
1,481+15.7%
—
Change in total debt
—
(155)
—
Cash left over
—
62
—
FCF conversion (FCF ÷ net income)
108.1%
96.3%−11.7 pp
—
Owner earnings
—
2,472
—
Owner earnings margin
—
11.6%
—
Buyback yield
1.4%
1.7%+0.3 pp
—
Returns & ratios
ROIC (all capital)
26.5%
29.1%+2.5 pp
—
ROIC (operating)
57.2%
61.8%+4.7 pp
—
Net debt / EBITDA
0.86x
0.68x−0.18x
—
Debt / equity
0.64x
0.54x−0.10x
—
Cash conversion cycle (days)
54
55+1 d
—
ROE
34.4%
34.0%−0.4 pp
—
ROA
12.7%
13.6%+0.9 pp
—
ROCE
24.9%
26.2%+1.4 pp
—
NOPAT
2,822
3,206+13.6%
—
Invested capital (operating)
4,938
5,436+10.1%
—
Invested capital (all)
10,638
11,431+7.5%
—
Reinvestment rate
—
15.5%
—
Debtor days
57
55−1 d
—
Inventory days
36
36−0 d
—
Days payable
40
37−3 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
5,742
5,145
4,969
6,354
vs year-ago quarter
Gross profit
2,118
—
1,728
2,260
Gross margin
36.9%
—
34.8%
35.6%
Operating income
1,165
819
776
1,224
Net income
848
591
584
926
vs year-ago quarter
Net margin
14.8%
11.5%
11.8%
14.6%
EPS (diluted, $)
3.78
2.63
2.62
4.16
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
21,374
21,421
22,755
23,926
Cash & equivalents
—
1,763
—
—
Total debt
3,921
4,615
3,923
3,924
Shareholders’ equity
8,326
8,579
8,591
8,623
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
1,004
1,159
626
1,088
Capex
68
106
80
76
Free cash flow
936
1,053
546
1,011
vs year-ago quarter