Trane Technologies revenue and financials

TT · NYSE · USD

$470.87+1.50%+$6.95

Close · October 5, 2026

In the fiscal year ended December 2025, Trane Technologies reported revenue of $21.32B (+7.48% year over year). Net income was $2.92B, a net margin of 13.7%.

Annual revenue · 2025: $21.32B

$13.51B2016
$14.2B2017
$12.34B2018
$13.08B2019
$12.45B2020
$14.14B2021
$15.99B2022
$17.68B2023
$19.84B2024
$21.32B2025

Fiscal year ending in December. Sources and method on the page Methodology and sources.

At a glance

Revenue growth: +7.48%; 2025 vs 2024
Net income growth: +13.66%; 2025 vs 2024
Net margin: 13.7%; 2024: 12.9%

Financial data

Amounts in millions of USD; per-share values in USD; shares in millions.

Income statement · Annual
Item	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Total revenue	21,322	19,838	17,678	15,992	14,136	12,455	13,076	12,344	14,198	13,509
Cost of revenue	13,612	12,758	11,820	11,027	—	8,651	9,086	8,583	9,812	9,308
Gross profit	7,710	7,081	5,857	4,965	—	—	—	—	—	—
Selling, general and administrative	3,743	3,580	2,963	2,546	—	—	—	—	—	—
Research and development	348	310	252	211	194	165	174	167	211	208
Operating income	3,967	3,500	2,894	2,419	2,023	1,533	1,670	1,512	1,665	1,603
EBIT	3,905	3,480	2,802	2,396	—	—	—	—	—	—
EBITDA	4,282	3,860	3,150	2,719	—	—	—	—	—	—
Interest expense	227	238	235	224	234	249	243	221	216	222
Pre-tax income	3,679	3,242	2,567	2,172	—	—	—	—	—	—
Income tax	706	628	498	376	334	297	239	235	80.2	282
Net income	2,919	2,568	2,024	1,757	1,423	855	1,411	1,338	1,303	1,476
Net income to common shareholders	2,919	2,568	2,024	1,757	—	—	—	—	—	—
Basic EPS	13.09	11.35	8.85	7.55	5.96	3.56	5.84	5.41	5.11	5.70
Diluted EPS	12.98	11.24	8.77	7.48	5.87	3.52	5.77	5.35	5.05	5.65
Average shares (basic)	221	224	227	229	—	—	—	—	—	—
Average shares (diluted)	225	228	231	235	242	243	244	250	258	262