Trane Technologies plc designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, and custom and transport refrigeration.
Profile & Fundamentals
Trane Technologies: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Trane Technologies Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Trane Technologies plc designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, and custom and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps; chillers; coils and condensers; auxiliary power, cold storage, and condensing units; controls contracting and commissioning, decarbonization programs, and gensets; dehumidifiers; energy and water efficiency programs; energy recovery ventilators and power solutions; energy storage; furnaces; home automation; humidifiers; HVAC performance-monitoring products; and indoor air quality assessments and related products for HVAC and transport solutions. The company also provides asset management, building management, bus air purification, bus and rail HVAC, container refrigeration, control, ductless, geothermal, data center and multi-pipe HVAC, package heating and cooling, rail refrigeration, residential air filtration, self and vehicle powered truck refrigeration, temporary heating and cooling, truck refrigeration, unitary, variable refrigerant flow, and trailer refrigeration systems. In addition, it offers industrial process refrigeration, installation contracting, lighting retrofit, medical grade refrigeration, refrigerant reclamation, renewable energy and storage, residential hybrid heating, telematics, thermostats/controls and associated digital, ventilation, and stationary cold storage solutions; packaged rooftop units; rate chambers; residential air filters; thermal energy storage; transport heater products; temperature freezers; energy infrastructure programs and management, repair and maintenance, smart and AI-enabled, and rental services; water source heat pumps; and aftermarket and OEM parts and supplies. The company was formerly known as Ingersoll-Rand Plc and changed its name to Trane Technologies plc in March 2020. The company was founded in 1885 and is headquartered in Swords, Ireland.
Company profile record
Trane Technologies plc
Common Stock · Industrials · Building Products
Company
- Company / asset
- Trane Technologies plc
- Security type
- Common Stock
- Sector
- Industrials
- Industry
- Building Products
- HQ
- 🇮🇪 Ireland
- Head office
- 170/175 Lakeview Drive, Swords, Ireland
Leadership & scale
- Chief executive
- Mr. David S. Regnery
- CEO year born
- 1963
- Full-time employees
- 44K
- Fiscal year end
- December
- IPO date
- 1985-07-01
Fundamentals snapshot
- Market Cap
- USD 106.3B
- P/E
- 36.0x
- Revenue (Q2 26)
- USD 6.4B
- Profit (Q2 26)
- USD 925.7M
- Dividend Yield
- 0.6%
- Revenue (FY 25)
- USD 21.3B
- Shares in public float
- 219.4M
- Insider ownership
- 0.27%
Reporting & identifiers
- Symbol
- TT.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- IE00BK9ZQ967
- Asset ID
- equity_7845e72e-ee7b-570c-b9c1-606234f64a58
Ownership
Shares Outstanding
Latest: 223.1M | Max: 253.9M | Min: 223.1M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
98.35%
219.4M latest reported shares
Insider Ownership
0.27%
Latest reported insider stake
Short Float
0.02%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 253,900,000 |
| 2018-01-01 | 247,700,000 |
| 2019-01-01 | 242,900,000 |
| 2020-01-01 | 244,300,000 |
| 2021-01-01 | 240,700,000 |
| 2022-01-01 | 232,400,000 |
| 2023-01-01 | 229,900,000 |
| 2024-01-01 | 227,300,000 |
| 2025-01-01 | 223,600,000 |
| 2026-01-01 | 223,100,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 21,644,072 | 9.84% | 2026-03-31 |
| JPMorgan Chase & Co | 16,735,421 | 7.61% | 2026-03-31 |
| Vanguard Capital Management, LLC | 14,382,748 | 6.54% | 2026-03-31 |
| State Street Corp | 10,104,859 | 4.59% | 2026-03-31 |
| FMR Inc | 9,866,235 | 4.48% | 2026-03-31 |
| Vanguard MStar Total Stk Mkt Idx Invest | 7,024,067 | 3.19% | 2026-08-31 |
| Vanguard 500 Index Investor | 5,870,541 | 2.67% | 2026-08-31 |
| Morgan Stanley - Brokerage Accounts | 5,302,761 | 2.41% | 2026-03-31 |
| Geode Capital Management, LLC | 5,186,223 | 2.36% | 2026-03-31 |
| Vanguard Portfolio Management, LLC | 3,533,795 | 1.61% | 2026-03-31 |
| iShares Core S&P 500 ETF | 2,943,387 | 1.34% | 2026-08-31 |
| NORGES BANK | 2,916,886 | 1.33% | 2026-06-30 |
| Fidelity 500 Index | 2,858,472 | 1.3% | 2026-07-31 |
| UBS Asset Mgmt Americas Inc | 2,822,174 | 1.28% | 2026-03-31 |
| Nuveen, LLC | 2,813,561 | 1.28% | 2026-03-31 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The company delivered strong financial progress, with twelve-month revenue expanding past twenty-two billion dollars and operating income approaching four billion dollars. This expansion is powered by booming demand for commercial climate systems and specialized datacenter cooling, which has built a record twelve-billion-dollar backlog. High-margin maintenance services provide steady, recurring revenue that helps shield total earnings from broader economic softness. However, a closer look reveals that recent top-line gains were driven by equipment shipping volumes rather than price increases. While cash generation remains excellent, with free cash flow surpassing reported net income, future earnings compounding will depend heavily on factory operational efficiency and project delivery rather than repeated price hikes.
The company delivered strong financial progress, with twelve-month revenue expanding past twenty-two billion dollars and operating income approaching four billion dollars. This expansion is powered by booming demand for commercial climate systems and specialized datacenter cooling, which has built a record twelve-billion-dollar backlog. High-margin maintenance services provide steady, recurring revenue that helps shield total earnings from broader economic softness. However, a closer look reveals that recent top-line gains were driven by equipment shipping volumes rather than price increases. While cash generation remains excellent, with free cash flow surpassing reported net income, future earnings compounding will depend heavily on factory operational efficiency and project delivery rather than repeated price hikes.
Revenue, Net Income, and Free Cash Flow
Latest: USD 21.3B | Max: USD 21.3B | Min: USD 854.9M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 30x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Operating profit margins have expanded significantly over the past five years, rising from around twelve percent to over eighteen percent. This structural improvement was driven by price increases, favorable sales mix toward advanced commercial systems, and the growth of high-margin building service contracts that carry higher profitability than basic equipment manufacturing. More recently, margin expansion has leveled off due to higher raw material expenses, trade tariffs, and integration costs from newly acquired businesses. Because past price increases from refrigerant changes are now completed, sustaining margins will require strong manufacturing productivity and higher sales of recurring digital building services.
Operating profit margins have expanded significantly over the past five years, rising from around twelve percent to over eighteen percent. This structural improvement was driven by price increases, favorable sales mix toward advanced commercial systems, and the growth of high-margin building service contracts that carry higher profitability than basic equipment manufacturing. More recently, margin expansion has leveled off due to higher raw material expenses, trade tariffs, and integration costs from newly acquired businesses. Because past price increases from refrigerant changes are now completed, sustaining margins will require strong manufacturing productivity and higher sales of recurring digital building services.
Profitability Margins
Latest: 36.2% | Max: 36.2% | Min: 6.9%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
36.2%
Gross profit / revenue
Operating Margin
18.6%
Operating income / revenue
Net Margin
13.7%
Net income / revenue
FCF Margin
13.2%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 13,508,900,000 | 1,476,200,000 | 1,317,500,000 |
| 2017-12-31 | 14,197,600,000 | 1,302,600,000 | 1,302,200,000 |
| 2018-12-31 | 12,343,800,000 | 1,337,600,000 | 1,042,200,000 |
| 2019-12-31 | 13,075,900,000 | 1,410,900,000 | 1,665,400,000 |
| 2020-12-31 | 12,454,700,000 | 854,900,000 | 1,288,800,000 |
| 2021-12-31 | 14,136,400,000 | 1,423,400,000 | 1,365,300,000 |
| 2022-12-31 | 15,991,700,000 | 1,756,500,000 | 1,212,200,000 |
| 2023-12-31 | 17,677,600,000 | 2,023,900,000 | 2,088,900,000 |
| 2024-12-31 | 19,838,200,000 | 2,567,900,000 | 2,775,000,000 |
| 2025-12-31 | 21,321,900,000 | 2,918,600,000 | 2,811,500,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 29.82 | Trailing four quarters |
| 2024-12-31 | 32.69 | Trailing four quarters |
| 2023-12-31 | 27.71 | Trailing four quarters |
| 2022-12-31 | 22.24 | Annual net income |
| 2021-12-31 | 34.16 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 31.1 | 11.87 | 10.93 | 9.75 |
| 2017-12-31 | 30.89 | 11.73 | 9.17 | 9.17 |
| 2018-12-31 | 30.47 | 12.25 | 10.84 | 8.44 |
| 2019-12-31 | 30.8 | 12.77 | 10.79 | 12.74 |
| 2020-12-31 | 30.54 | 12.31 | 6.86 | 10.35 |
| 2021-12-31 | 31.62 | 14.31 | 10.07 | 9.66 |
| 2022-12-31 | 31.05 | 15.13 | 10.98 | 7.58 |
| 2023-12-31 | 33.13 | 16.37 | 11.45 | 11.82 |
| 2024-12-31 | 35.69 | 17.64 | 12.94 | 13.99 |
| 2025-12-31 | 36.16 | 18.61 | 13.69 | 13.19 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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