Trane Technologies Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	21,322	19,838	17,678	15,992	14,136
Revenue Growth (YoY)	7.48%	12.22%	10.54%	13.12%	13.50%
Cost of Revenue	13,612	12,758	11,820	11,027	9,667
Gross Profit	7,710	7,081	5,857	4,965	4,470
Selling, General & Admin	3,743	3,580	2,963	2,547	2,446
Total Operating Expenses	3,743	3,580	2,963	2,547	2,446
Operating Income	3,967	3,500	2,894	2,419	2,023
Interest Expense	-226.7	-238.4	-234.5	-223.5	-233.7
Other Non-Operating Income (Expense)	-62.1	-19.9	-92.2	-23.3	1.1
Total Non-Operating Income (Expense)	-288.8	-258.3	-326.7	-246.8	-232.6
Pretax Income	3,679	3,242	2,567	2,172	1,791
Provision for Income Taxes	705.9	627.6	498.4	375.9	333.5
Net Income	2,919	2,568	2,024	1,757	1,423
Minority Interest in Earnings	17.1	21.6	17.8	18.2	13.2
Earnings From Discontinued Operations	-37	-24.7	-27.2	-21.5	-20.6
Net Income to Common	2,919	2,568	2,024	1,757	1,423
Net Income Growth	13.66%	26.88%	15.22%	23.40%	66.50%
Shares Outstanding (Basic)	223	226	229	233	239
Shares Outstanding (Diluted)	225	228	231	235	242
Shares Change (YoY)	-1.53%	-1.00%	-1.79%	-3.05%	-0.33%
EPS (Basic)	13.09	11.35	8.85	7.65	5.96
EPS (Diluted)	12.98	11.24	8.77	7.57	5.87
EPS Growth	15.48%	28.16%	15.85%	28.96%	46.02%
Free Cash Flow	2,812	2,775	2,089	1,212	1,365
Free Cash Flow Growth	1.31%	32.84%	72.32%	-11.21%	5.94%
Free Cash Flow Per Share	12.50	12.15	9.05	5.16	5.63
Dividends Per Share	3.760	3.360	3.000	2.680	2.360
Dividend Growth	11.91%	12.00%	11.94%	13.56%	11.32%
Gross Margin	36.16%	35.69%	33.13%	31.05%	31.62%
Operating Margin	18.61%	17.64%	16.37%	15.13%	14.31%
Profit Margin	13.94%	13.18%	11.70%	11.23%	10.31%
FCF Margin	13.19%	13.99%	11.82%	7.58%	9.66%
EBITDA	4,344	3,848	3,273	2,743	2,323
EBITDA Margin	20.37%	19.40%	18.52%	17.15%	16.43%
EBIT	3,967	3,500	2,894	2,419	2,023
EBIT Margin	18.61%	17.64%	16.37%	15.13%	14.31%
Effective Tax Rate	19.19%	19.36%	19.41%	17.31%	18.62%

Updated Jan 29, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q