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Trane Technologies (TT) Financials

Trane Technologies logo
$330.39 -13.57 (-3.95%)
As of 03:58 PM Eastern
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Annual Income Statements for Trane Technologies

Annual Income Statements for Trane Technologies

This table shows Trane Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders		 665 1,476 3,908 1,338 1,411 855 1,423 1,757 2,024 2,568
Consolidated Net Income / (Loss)		 683 1,493 1,312 1,358 1,429 870 1,437 1,775 2,042 2,590
Net Income / (Loss) Continuing Operations		 707 1,460 1,338 1,023 1,160 991 1,457 1,796 2,069 2,614
Total Pre-Tax Income 		1,248 1,741 1,418 1,258 1,399 1,288 1,791 2,172 2,567 3,242
Total Operating Income		 1,492 1,603 1,665 1,512 1,670 1,533 2,023 2,419 2,894 3,500
Total Gross Profit		 4,023 4,201 4,386 3,761 3,990 3,803 4,470 4,965 5,857 7,081
Total Revenue		 13,301 13,509 14,198 12,344 13,076 12,455 14,136 15,992 17,678 19,838
Operating Revenue		 13,301 13,509 14,198 12,344 13,076 12,455 14,136 15,992 17,678 19,838
Total Cost of Revenue		 9,277 9,308 9,812 8,583 9,086 8,651 9,667 11,027 11,820 12,758
Operating Cost of Revenue		 9,277 9,308 9,812 8,583 9,086 8,651 9,667 11,027 11,820 12,758
Total Operating Expenses		 2,532 2,598 2,721 2,249 2,320 2,271 2,446 2,546 2,963 3,580
Selling, General & Admin Expense		 2,532 2,598 2,721 2,249 2,320 2,271 2,446 2,546 2,963 3,580
Total Other Income / (Expense), net		 -244 138 -247 -254 -271 -245 -233 -247 -327 -258
Interest Expense		 223 222 216 221 243 249 234 224 235 238
Other Income / (Expense), net		 -21 360 -32 -33 -28 4.10 1.10 -23 -92 -20
Income Tax Expense		 541 282 80 235 239 297 334 376 498 628
Net Income / (Loss) Discontinued Operations		 -24 33 -51 335 268 -121 -21 -22 -27 -25
Net Income / (Loss) Attributable to Noncontrolling Interest		 18 17 9.70 20 18 15 13 18 18 22
Basic Earnings per Share		 $2.51 $5.70 $5.11 $5.41 $5.84 $3.56 $5.96 $7.55 $8.85 $11.35
Weighted Average Basic Shares Outstanding		 265.10M 259.20M 254.90M 242.17M 238.40M 238.43M 233.54M 229.07M 227.07M 224.29M
Diluted Earnings per Share		 $2.48 $5.65 $5.05 $5.35 $5.77 $3.52 $5.87 $7.48 $8.77 $11.24
Weighted Average Diluted Shares Outstanding		 265.10M 259.20M 254.90M 242.17M 238.40M 238.43M 233.54M 229.07M 227.07M 224.29M
Weighted Average Basic & Diluted Shares Outstanding		 265.10M 259.20M 254.90M 242.17M 238.40M 238.43M 233.54M 229.07M 227.07M 224.29M
Cash Dividends to Common per Share		 $1.16 $1.16 $1.70 $1.96 $2.12 $2.12 $2.36 $2.68 $3.00 $3.36

Quarterly Income Statements for Trane Technologies

This table shows Trane Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Income / (Loss) Attributable to Common Shareholders		 548 439 307 586 626 504 436 755 772 604
Consolidated Net Income / (Loss)		 552 444 311 591 632 508 440 760 778 612
Net Income / (Loss) Continuing Operations		 560 449 317 597 639 517 445 767 787 615
Total Pre-Tax Income 		665 523 390 766 796 615 551 973 968 751
Total Operating Income		 740 581 457 885 864 688 634 1,034 1,025 808
Total Gross Profit		 1,433 1,220 1,144 1,584 1,658 1,471 1,460 1,936 1,974 1,711
Total Revenue		 4,372 4,074 3,666 4,705 4,883 4,424 4,216 5,307 5,441 4,874
Operating Revenue		 4,372 4,074 3,666 4,705 4,883 4,424 4,216 5,307 5,441 4,874
Total Cost of Revenue		 2,939 2,854 2,522 3,120 3,225 2,953 2,756 3,372 3,467 3,163
Operating Cost of Revenue		 2,939 2,854 2,522 3,120 3,225 2,953 2,756 3,372 3,467 3,163
Total Operating Expenses		 693 639 687 699 794 784 826 901 950 903
Selling, General & Admin Expense		 693 639 687 699 794 784 826 901 950 903
Total Other Income / (Expense), net		 -75 -58 -67 -119 -68 -73 -83 -62 -57 -57
Interest Expense		 56 56 58 62 58 57 58 58 63 60
Other Income / (Expense), net		 -19 -2.30 -9.40 -57 -10 -15 -25 -4.10 6.30 2.90
Income Tax Expense		 105 74 73 170 158 98 106 206 181 135
Net Income / (Loss) Discontinued Operations		 -7.90 -5.00 -5.50 -6.10 -6.50 -9.10 -5.40 -6.90 -8.90 -3.50
Net Income / (Loss) Attributable to Noncontrolling Interest		 4.50 4.90 4.00 4.50 6.00 3.30 3.50 4.60 5.90 7.60
Basic Earnings per Share		 $2.36 $1.90 $1.34 $2.57 $2.74 $2.20 $1.92 $3.33 $3.42 $2.68
Weighted Average Basic Shares Outstanding		 231.90M 229.07M 229.30M 228.50M 228.60M 227.07M 227.40M 226.60M 225.80M 224.29M
Diluted Earnings per Share		 $2.34 $1.88 $1.33 $2.55 $2.72 $2.17 $1.90 $3.30 $3.39 $2.65
Weighted Average Diluted Shares Outstanding		 234M 229.07M 231.50M 230.30M 230.60M 227.07M 229.50M 228.70M 228M 224.29M
Weighted Average Basic & Diluted Shares Outstanding		 230.31M 229.07M 228.05M 228.40M 227.56M 227.07M 226.35M 225.67M 225.02M 224.29M

Annual Cash Flow Statements for Trane Technologies

This table details how cash moves in and out of Trane Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents		 -968 978 -165 -1,292 400 2,011 -1,131 -939 -125 495
Net Cash From Operating Activities		 888 1,522 1,524 1,408 1,920 1,435 1,588 1,504 2,390 3,146
Net Cash From Continuing Operating Activities		 924 1,433 1,562 997 1,524 1,766 1,594 1,699 2,427 3,178
Net Income / (Loss) Continuing Operations		 707 1,460 1,338 1,023 1,160 991 1,457 1,796 2,069 2,614
Consolidated Net Income / (Loss)		 683 1,493 1,312 1,358 1,429 870 1,437 1,775 2,042 2,590
Net Income / (Loss) Discontinued Operations		 -24 33 -25 335 268 -121 -21 -22 -27 -25
Depreciation Expense		 364 352 353 282 289 294 299 324 348 379
Non-Cash Adjustments To Reconcile Net Income		 158 -362 62 65 145 138 117 112 115 124
Changes in Operating Assets and Liabilities, net		 -305 -51 -191 -373 -70 342 -280 -533 -106 61
Net Cash From Discontinued Operating Activities		 -35 89 -38 411 396 -331 -6.10 -195 -37 -32
Net Cash From Investing Activities		 -1,193 240 -375 -629 -1,780 -376 -546 -540 -1,172 -563
Net Cash From Continuing Investing Activities		 0.00 0.00 -380 -562 -282 -339 -546 -540 -1,172 -563
Purchase of Property, Plant & Equipment		 -250 -183 -221 -285 -205 -146 -223 -292 -301 -371
Acquisitions		 -962 -9.20 -158 -286 -83 -194 -269 -235 -863 -180
Purchase of Investments		 - - - - - - - 0.00 0.00 -450
Sale of Property, Plant & Equipment		 19 9.50 1.50 9.70 2.20 0.10 15 9.70 9.20 4.70
Sale and/or Maturity of Investments		 0.00 0.00 - - - - - 0.00 0.00 450
Other Investing Activities, net		 - - 2.70 -1.20 4.80 1.20 -69 -23 -18 -17
Net Cash From Discontinued Investing Activities		 0.00 0.00 - -68 -1,498 -38 0.00 -0.60 0.00 0.00
Net Cash From Financing Activities		 -528 -727 -1,433 -1,379 271 884 -2,128 -1,852 -1,350 -2,021
Net Cash From Continuing Financing Activities		 -528 -727 -1,433 -1,376 272 884 -2,029 -1,840 -1,350 -2,021
Repayment of Debt		 -26 -177 -40 -1,145 -22 -305 -480 -14 -763 -514
Repurchase of Common Equity		 -250 -250 -1,017 -900 -750 -250 -1,100 -1,200 -669 -1,281
Payment of Dividends		 -313 -363 -453 -521 -526 -526 -576 -635 -697 -771
Issuance of Debt		 0.00 0.00 0.00 1,147 1,498 0.00 0.00 0.00 699 499
Other Financing Activities, net		 61 63 77 43 73 1,965 128 8.80 79 47
Net Cash From Discontinued Financing Activities		 0.00 0.00 - -2.90 -1.50 0.00 0.00 0.00 0.00 0.00
Effect of Exchange Rate Changes		 -136 -57 118 -46 -9.80 68 -46 -50 7.70 -67
Cash Interest Paid		 172 209 210 201 221 244 235 218 217 233
Cash Income Taxes Paid		 409 334 287 375 425 152 357 321 524 711

Quarterly Cash Flow Statements for Trane Technologies

This table details how cash moves in and out of Trane Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Change in Cash & Equivalents		 -10 140 -528 -29 296 135 -245 925 595 -780
Net Cash From Operating Activities		 510 760 8.50 524 922 935 247 696 1,303 900
Net Cash From Continuing Operating Activities		 516 765 17 531 935 944 254 704 1,314 906
Net Income / (Loss) Continuing Operations		 560 449 317 597 639 517 445 767 787 615
Consolidated Net Income / (Loss)		 552 444 311 591 632 508 440 760 778 612
Net Income / (Loss) Discontinued Operations		 -8.00 -4.90 -5.50 -6.10 -6.60 -9.00 -5.40 -6.90 -9.00 -3.40
Depreciation Expense		 84 83 80 88 92 88 92 96 95 97
Non-Cash Adjustments To Reconcile Net Income		 21 57 35 27 21 32 47 11 2.90 63
Changes in Operating Assets and Liabilities, net		 -150 177 -414 -181 182 307 -330 -169 429 131
Net Cash From Discontinued Operating Activities		 -5.50 -5.00 -8.30 -7.30 -12 -9.40 -7.20 -8.30 -11 -5.60
Net Cash From Investing Activities		 -67 -215 -91 -556 -89 -436 -82 -545 -260 324
Net Cash From Continuing Investing Activities		 -67 -215 0.00 - - -1,172 0.00 - - -563
Purchase of Property, Plant & Equipment		 -59 -89 -77 -57 -83 -84 -84 -73 -88 -126
Acquisitions		 - -125 0.00 -506 -4.00 -353 0.00 -5.20 -174 -0.70
Other Investing Activities, net		 -8.20 -10 -14 7.10 -1.90 -9.20 2.10 -17 2.70 -4.70
Net Cash From Financing Activities		 -411 -439 -459 23 -516 -398 -387 -118 -486 -1,030
Net Cash From Continuing Financing Activities		 -411 -427 -459 23 -516 -398 -387 -118 -486 -1,030
Repayment of Debt		 - -2.10 -706 190 -201 -46 100 -112 -0.90 -501
Repurchase of Common Equity		 -250 -300 -300 - -160 -210 -300 -324 -302 -355
Payment of Dividends		 -162 -153 -173 -175 -177 -171 -192 -195 -195 -189
Other Financing Activities, net		 0.30 29 21 7.50 22 28 6.10 16 11 14
Effect of Exchange Rate Changes		 -42 34 14 -20 -21 35 -24 -8.70 39 -73

Annual Balance Sheets for Trane Technologies

This table presents Trane Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Assets		 16,718 17,397 18,173 17,915 20,492 18,157 18,060 18,082 19,392 20,147
Total Current Assets		 4,609 5,579 6,119 5,732 9,294 6,906 6,471 6,379 6,870 7,338
Cash & Equivalents		 737 1,715 1,549 903 1,279 3,290 2,159 1,221 1,095 1,590
Short-Term Investments		 - - - - - - - - 0.00 0.00
Accounts Receivable		 2,151 2,223 2,477 2,679 2,185 2,202 2,429 2,780 2,957 3,090
Inventories, net		 1,411 1,386 1,555 1,678 1,279 1,189 1,531 1,994 2,152 1,972
Current Deferred & Refundable Income Taxes		 0.00 0.00 0.00 - 0.00 - 0.00 0.00 0.00 0.00
Other Current Assets		 311 256 537 472 345 224 352 385 666 686
Other Current Nonoperating Assets		 - - - - 4,207 - 0.00 0.00 0.00 0.00
Plant, Property, & Equipment, net		 1,575 1,511 1,551 1,731 0.00 1,350 1,399 1,536 1,772 2,025
Total Noncurrent Assets		 10,533 10,307 10,503 10,452 11,199 9,902 10,190 10,166 10,750 10,784
Goodwill		 5,730 5,658 5,936 5,960 5,126 5,343 5,505 5,504 6,095 6,128
Intangible Assets		 3,926 3,785 3,743 3,635 3,324 3,286 3,306 3,264 3,440 3,308
Other Noncurrent Operating Assets		 877 864 824 858 2,749 1,272 1,380 1,399 1,215 1,348
Total Liabilities & Shareholders' Equity		 16,718 17,397 18,173 17,915 20,492 18,157 18,060 18,082 19,392 20,147
Total Liabilities		 10,838 10,679 10,966 10,850 13,180 11,730 11,787 11,976 12,375 12,660
Total Current Liabilities		 3,648 3,590 4,828 4,316 5,239 4,339 4,752 5,687 6,054 6,069
Short-Term Debt		 504 361 1,107 351 650 776 350 1,048 802 452
Accounts Payable		 1,249 1,334 1,556 1,705 1,381 1,520 1,787 2,092 2,025 2,148
Accrued Expenses		 1,458 1,426 1,655 1,728 1,564 1,592 2,070 2,006 2,635 2,790
Current Employee Benefit Liabilities		 437 470 510 532 442 451 545 541 592 678
Other Current Nonoperating Liabilities		 - - - - 1,200 - 0.00 0.00 0.00 0.00
Total Noncurrent Liabilities		 7,190 7,089 6,138 6,534 7,941 7,391 7,034 6,290 6,321 6,591
Long-Term Debt		 3,714 3,709 2,957 3,741 4,923 4,497 4,492 3,788 3,978 4,318
Noncurrent Deferred & Payable Income Tax Liabilities		 896 885 758 538 572 579 582 680 704 587
Noncurrent Employee Benefit Liabilities		 1,410 1,357 1,285 1,193 1,048 1,025 811 667 597 562
Other Noncurrent Operating Liabilities		 1,170 1,138 1,139 1,062 1,398 1,291 1,150 1,154 1,043 1,124
Total Equity & Noncontrolling Interests		 5,879 6,718 7,207 7,065 7,312 6,427 6,273 6,105 7,017 7,487
Total Preferred & Common Equity		 5,817 6,644 7,140 7,023 7,268 6,408 6,256 6,089 6,995 7,457
Total Common Equity		 5,817 6,644 7,140 7,023 7,268 6,408 6,256 6,089 6,995 7,457
Common Stock		 492 618 735 266 263 263 260 253 252 249
Retained Earnings		 6,898 8,019 8,903 9,440 9,731 8,495 8,353 8,321 9,134 9,792
Treasury Stock		 -453 -703 -1,719 -1,719 -1,719 -1,719 -1,719 -1,719 -1,719 -1,719
Accumulated Other Comprehensive Income / (Loss)		 -1,121 -1,291 -779 -964 -1,007 -632 -638 -766 -671 -864
Noncontrolling Interest		 63 75 67 42 45 19 17 17 22 30

Quarterly Balance Sheets for Trane Technologies

This table presents Trane Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Total Assets		 17,740 18,082 17,897 18,907 18,903 19,392 19,341 20,199 20,904 20,147
Total Current Assets		 6,299 6,379 6,075 6,675 6,727 6,870 6,887 7,714 8,100 7,338
Cash & Equivalents		 - 1,221 - - - 1,095 - - - 1,590
Short-Term Investments		 - - - - - 0.00 - 451 458 0.00
Accounts Receivable		 2,867 2,780 2,606 3,200 3,143 2,957 2,940 3,433 3,393 3,090
Inventories, net		 1,949 1,994 2,344 2,356 2,192 2,152 2,383 2,204 2,033 1,972
Current Deferred & Refundable Income Taxes		 - 0.00 - - - 0.00 - - - 0.00
Other Current Assets		 402 385 432 456 433 666 715 751 745 686
Other Current Nonoperating Assets		 - 0.00 - - - 0.00 - - - 0.00
Plant, Property, & Equipment, net		 1,432 1,536 1,582 1,655 1,684 1,772 1,788 1,828 1,907 2,025
Total Noncurrent Assets		 10,009 10,166 10,240 10,577 10,493 10,750 10,666 10,657 10,897 10,784
Goodwill		 5,370 5,504 5,523 5,748 5,719 6,095 6,060 6,058 6,214 6,128
Intangible Assets		 3,241 3,264 3,231 3,389 3,338 3,440 3,391 3,352 3,365 3,308
Other Noncurrent Operating Assets		 1,397 1,399 1,486 1,440 1,436 1,215 1,215 1,248 1,319 1,348
Total Liabilities & Shareholders' Equity		 17,740 18,082 17,897 18,907 18,903 19,392 19,341 20,199 20,904 20,147
Total Liabilities		 11,871 11,976 11,843 12,629 12,203 12,375 12,430 13,232 13,289 12,660
Total Current Liabilities		 5,546 5,687 4,831 5,593 5,214 6,054 6,102 6,592 6,629 6,069
Short-Term Debt		 1,050 1,048 348 550 348 802 902 952 952 452
Accounts Payable		 2,061 2,092 1,963 2,177 2,093 2,025 2,008 2,180 2,195 2,148
Accrued Expenses		 1,956 2,006 2,166 2,442 2,258 2,635 2,759 2,965 2,864 2,790
Current Employee Benefit Liabilities		 478 541 355 424 515 592 433 496 618 678
Other Current Nonoperating Liabilities		 - 0.00 - - - 0.00 - - - 0.00
Total Noncurrent Liabilities		 6,326 6,290 7,012 7,036 6,989 6,321 6,329 6,639 6,661 6,591
Long-Term Debt		 3,788 3,788 4,482 4,477 4,476 3,978 3,979 4,316 4,317 4,318
Noncurrent Deferred & Payable Income Tax Liabilities		 639 680 636 694 696 704 678 695 678 587
Noncurrent Employee Benefit Liabilities		 731 667 675 680 625 597 602 594 576 562
Other Noncurrent Operating Liabilities		 1,168 1,154 1,219 1,186 1,191 1,043 1,070 1,034 1,090 1,124
Total Equity & Noncontrolling Interests		 5,868 6,105 6,054 6,277 6,700 7,017 6,911 6,968 7,614 7,487
Total Preferred & Common Equity		 5,858 6,089 6,036 6,259 6,682 6,995 6,890 6,947 7,592 7,457
Total Common Equity		 5,858 6,089 6,036 6,259 6,682 6,995 6,890 6,947 7,592 7,457
Common Stock		 255 253 253 276 252 252 251 250 250 249
Retained Earnings		 8,320 8,321 8,202 8,445 8,971 9,134 9,104 9,195 9,698 9,792
Treasury Stock		 -1,719 -1,719 -1,719 -1,719 -1,719 -1,719 -1,719 -1,719 -1,719 -1,719
Accumulated Other Comprehensive Income / (Loss)		 -998 -766 -699 -743 -822 -671 -746 -778 -636 -864
Noncontrolling Interest		 10 17 18 18 19 22 21 20 23 30

Annual Metrics and Ratios for Trane Technologies

This table displays calculated financial ratios and metrics derived from Trane Technologies' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 3.18% 1.57% 5.10% -13.06% 5.93% -4.75% 13.50% 13.12% 10.54% 12.22%
EBITDA Growth		 3.84% 26.16% -14.17% -11.37% 9.62% -5.14% 26.90% 17.02% 15.84% 22.53%
EBIT Growth		 2.52% 33.44% -16.77% -9.48% 11.02% -6.38% 31.72% 18.34% 16.96% 24.21%
NOPAT Growth		 -20.53% 59.01% 16.90% -21.73% 12.65% -14.84% 39.57% 21.49% 16.59% 21.02%
Net Income Growth		 -28.16% 118.61% -12.09% 3.44% 5.23% -39.10% 65.13% 23.53% 15.04% 26.83%
EPS Growth		 -27.06% 127.82% -10.62% 5.94% 7.85% -38.99% 66.76% 27.43% 17.25% 28.16%
Operating Cash Flow Growth		 -8.71% 71.31% 0.11% -7.59% 36.35% -25.24% 10.68% -5.31% 58.88% 31.64%
Free Cash Flow Firm Growth		 -95.91% 3,184.18% -43.36% -24.36% 334.89% -54.88% -19.76% 12.32% 9.42% 111.36%
Invested Capital Growth		 9.29% -3.06% 7.14% 5.46% -16.12% -2.22% 6.50% 8.54% 10.09% -0.32%
Revenue Q/Q Growth		 0.64% 0.24% 1.86% -19.80% 24.97% -0.04% 2.84% 3.26% 2.02% 2.32%
EBITDA Q/Q Growth		 1.18% -2.11% 3.16% -19.87% 23.17% 3.31% 3.19% 5.18% 3.25% 3.96%
EBIT Q/Q Growth		 0.57% -2.12% 3.61% -19.35% 22.31% 4.13% 3.38% 5.63% 3.47% 4.14%
NOPAT Q/Q Growth		 4.95% -2.55% 24.36% -33.92% 32.01% 2.61% 3.92% 7.27% 3.49% 3.10%
Net Income Q/Q Growth		 -3.05% -2.34% 24.04% -12.60% 2.86% -5.63% -10.21% 25.28% 3.22% 4.20%
EPS Q/Q Growth		 -3.88% -3.09% 25.31% -12.58% 3.41% -5.38% 5.39% 8.25% 3.42% 4.46%
Operating Cash Flow Q/Q Growth		 21.93% -13.14% 19.17% -9.04% 22.77% -14.30% -11.17% 28.46% 7.88% -1.10%
Free Cash Flow Firm Q/Q Growth		 275.82% -7.90% -32.44% 3.92% 642.33% -70.90% -24.39% 48.98% 2.86% 21.75%
Invested Capital Q/Q Growth		 -3.67% -2.70% 5.41% -1.52% -28.45% -0.60% 4.26% 0.99% 1.29% -2.64%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 30.25% 31.10% 30.89% 30.47% 30.52% 30.54% 31.62% 31.05% 33.13% 35.69%
EBITDA Margin		 13.80% 17.14% 14.00% 14.27% 14.76% 14.70% 16.44% 17.00% 17.82% 19.46%
Operating Margin		 11.22% 11.87% 11.73% 12.25% 12.77% 12.31% 14.31% 15.13% 16.37% 17.64%
EBIT Margin		 11.06% 14.53% 11.51% 11.98% 12.56% 12.34% 14.32% 14.98% 15.85% 17.54%
Profit (Net Income) Margin		 5.13% 11.05% 9.24% 11.00% 10.92% 6.99% 10.16% 11.10% 11.55% 13.05%
Tax Burden Percent		 54.72% 85.72% 92.55% 107.93% 102.12% 67.54% 80.23% 81.70% 79.53% 79.88%
Interest Burden Percent		 84.84% 88.72% 86.79% 85.06% 85.21% 83.82% 88.46% 90.67% 91.63% 93.15%
Effective Tax Rate		 43.34% 16.17% 5.66% 18.68% 17.06% 23.04% 18.62% 17.31% 19.41% 19.36%
Return on Invested Capital (ROIC)		 9.43% 14.58% 16.72% 12.31% 14.70% 13.87% 18.96% 21.42% 22.84% 26.42%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.02% 19.68% 6.09% 16.79% 16.63% -5.07% 9.97% 14.26% 14.88% 19.63%
Return on Net Nonoperating Assets (RNNOA)		 2.02% 9.12% 2.13% 6.71% 5.18% -1.21% 3.66% 7.25% 8.28% 9.29%
Return on Equity (ROE)		 11.45% 23.70% 18.85% 19.02% 19.87% 12.66% 22.62% 28.67% 31.12% 35.71%
Cash Return on Invested Capital (CROIC)		 0.55% 17.69% 9.83% 6.99% 32.23% 16.12% 12.67% 13.23% 13.24% 26.74%
Operating Return on Assets (OROA)		 8.65% 11.51% 9.19% 8.20% 8.55% 7.95% 11.18% 13.26% 14.95% 17.60%
Return on Assets (ROA)		 4.01% 8.75% 7.38% 7.52% 7.44% 4.50% 7.93% 9.82% 10.90% 13.10%
Return on Common Equity (ROCE)		 11.34% 23.44% 18.66% 18.88% 19.75% 12.61% 22.56% 28.60% 31.03% 35.58%
Return on Equity Simple (ROE_SIMPLE)		 11.74% 22.47% 18.38% 19.33% 19.66% 13.58% 22.96% 29.15% 29.19% 34.72%
Net Operating Profit after Tax (NOPAT)		 845 1,344 1,571 1,230 1,385 1,180 1,646 2,000 2,332 2,822
NOPAT Margin		 6.35% 9.95% 11.07% 9.96% 10.59% 9.47% 11.65% 12.51% 13.19% 14.23%
Net Nonoperating Expense Percent (NNEP)		 5.41% -5.09% 10.63% -4.48% -1.93% 18.94% 9.00% 7.16% 7.96% 6.79%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 18.28% 19.77% 23.03%
Cost of Revenue to Revenue		 69.75% 68.90% 69.11% 69.53% 69.48% 69.46% 68.38% 68.95% 66.87% 64.31%
SG&A Expenses to Revenue		 19.03% 19.23% 19.16% 18.22% 17.74% 18.23% 17.31% 15.92% 16.76% 18.05%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 19.03% 19.23% 19.16% 18.22% 17.74% 18.23% 17.31% 15.92% 16.76% 18.05%
Earnings before Interest and Taxes (EBIT)		 1,471 1,963 1,634 1,479 1,642 1,537 2,024 2,396 2,802 3,480
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,835 2,315 1,987 1,761 1,931 1,831 2,324 2,719 3,150 3,860
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.66 1.99 2.17 2.27 3.17 5.19 7.42 6.20 7.85 11.15
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.72 0.98 1.09 1.29 1.76 2.67 3.28 2.36 3.11 4.19
Price to Earnings (P/E)		 14.51 8.95 3.97 11.90 16.32 38.93 32.62 21.48 27.15 32.37
Dividend Yield		 3.14% 2.66% 2.74% 3.03% 2.21% 23.04% 1.21% 1.64% 1.24% 0.91%
Earnings Yield		 6.89% 11.17% 25.21% 8.40% 6.13% 2.57% 3.07% 4.66% 3.68% 3.09%
Enterprise Value to Invested Capital (EV/IC)		 1.41 1.72 1.86 1.87 3.18 4.20 5.49 4.25 5.48 8.09
Enterprise Value to Revenue (EV/Rev)		 0.99 1.16 1.27 1.55 2.09 2.83 3.48 2.59 3.32 4.35
Enterprise Value to EBITDA (EV/EBITDA)		 7.18 6.76 9.10 10.87 14.17 19.27 21.14 15.21 18.62 22.37
Enterprise Value to EBIT (EV/EBIT)		 8.96 7.97 11.07 12.95 16.67 22.96 24.27 17.27 20.93 24.80
Enterprise Value to NOPAT (EV/NOPAT)		 15.60 11.64 11.51 15.57 19.75 29.91 29.84 20.68 25.15 30.58
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.84 10.28 11.87 13.60 14.25 24.59 30.93 27.50 24.54 27.44
Enterprise Value to Free Cash Flow (EV/FCFF)		 265.57 9.60 19.59 27.41 9.01 25.75 44.67 33.48 43.39 30.22
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.72 0.61 0.56 0.58 0.76 0.82 0.77 0.79 0.68 0.64
Long-Term Debt to Equity		 0.63 0.55 0.41 0.53 0.67 0.70 0.72 0.62 0.57 0.58
Financial Leverage		 0.50 0.46 0.35 0.40 0.31 0.24 0.37 0.51 0.56 0.47
Leverage Ratio		 2.85 2.71 2.55 2.53 2.67 2.81 2.85 2.92 2.86 2.73
Compound Leverage Factor		 2.42 2.40 2.22 2.15 2.28 2.36 2.52 2.65 2.62 2.54
Debt to Total Capital		 41.77% 37.73% 36.06% 36.67% 43.25% 45.06% 43.56% 44.20% 40.52% 38.92%
Short-Term Debt to Total Capital		 4.99% 3.34% 9.82% 3.14% 5.05% 6.63% 3.15% 9.58% 6.80% 3.69%
Long-Term Debt to Total Capital		 36.78% 34.38% 26.24% 33.53% 38.20% 38.43% 40.41% 34.62% 33.72% 35.23%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.62% 0.69% 0.59% 0.38% 0.35% 0.17% 0.15% 0.15% 0.18% 0.24%
Common Equity to Total Capital		 57.61% 61.58% 63.35% 62.95% 56.40% 54.77% 56.28% 55.65% 59.30% 60.84%
Debt to EBITDA		 2.30 1.76 2.05 2.32 2.89 2.88 2.08 1.78 1.52 1.24
Net Debt to EBITDA		 1.90 1.02 1.27 1.81 2.22 1.08 1.15 1.33 1.17 0.82
Long-Term Debt to EBITDA		 2.02 1.60 1.49 2.12 2.55 2.46 1.93 1.39 1.26 1.12
Debt to NOPAT		 4.99 3.03 2.59 3.33 4.02 4.47 2.94 2.42 2.05 1.69
Net Debt to NOPAT		 4.12 1.75 1.60 2.59 3.10 1.68 1.63 1.81 1.58 1.13
Long-Term Debt to NOPAT		 4.39 2.76 1.88 3.04 3.55 3.81 2.73 1.89 1.71 1.53
Altman Z-Score		 2.27 2.67 2.70 2.67 2.85 3.49 4.28 3.90 4.76 6.25
Noncontrolling Interest Sharing Ratio		 1.01% 1.09% 1.01% 0.76% 0.60% 0.47% 0.29% 0.27% 0.29% 0.35%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 1.26 1.55 1.27 1.33 1.77 1.59 1.36 1.12 1.13 1.21
Quick Ratio		 0.79 1.10 0.83 0.83 0.66 1.27 0.97 0.70 0.67 0.77
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 50 1,630 923 699 3,038 1,371 1,100 1,235 1,352 2,857
Operating Cash Flow to CapEx		 384.42% 878.70% 693.13% 511.93% 944.64% 982.20% 763.97% 533.14% 819.76% 859.69%
Free Cash Flow to Firm to Interest Expense		 0.22 7.36 4.28 3.16 12.51 5.51 4.71 5.53 5.76 11.98
Operating Cash Flow to Interest Expense		 3.98 6.87 7.06 6.37 7.91 5.77 6.80 6.73 10.19 13.19
Operating Cash Flow Less CapEx to Interest Expense		 2.95 6.09 6.04 5.13 7.07 5.18 5.91 5.47 8.95 11.66
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.78 0.79 0.80 0.68 0.68 0.64 0.78 0.89 0.94 1.00
Accounts Receivable Turnover		 6.23 6.18 6.04 4.79 5.38 5.68 6.10 6.14 6.16 6.56
Inventory Turnover		 6.70 6.66 6.67 5.31 6.15 7.01 7.11 6.26 5.70 6.19
Fixed Asset Turnover		 8.72 8.75 9.27 7.52 0.00 0.00 10.29 10.90 10.69 10.45
Accounts Payable Turnover		 7.31 7.21 6.79 5.26 5.89 5.96 5.85 5.69 5.74 6.11
Days Sales Outstanding (DSO)		 58.58 59.09 60.42 76.24 67.88 64.28 59.79 59.45 59.23 55.63
Days Inventory Outstanding (DIO)		 54.48 54.83 54.71 68.75 59.39 52.06 51.35 58.33 64.01 58.99
Days Payable Outstanding (DPO)		 49.95 50.65 53.76 69.35 62.00 61.21 62.44 64.20 63.56 59.70
Cash Conversion Cycle (CCC)		 63.11 63.27 61.37 75.64 65.27 55.13 48.70 53.59 59.68 54.92
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 9,360 9,074 9,722 10,253 8,600 8,409 8,956 9,721 10,702 10,667
Invested Capital Turnover		 1.48 1.47 1.51 1.24 1.39 1.46 1.63 1.71 1.73 1.86
Increase / (Decrease) in Invested Capital		 796 -286 648 531 -1,653 -191 547 765 981 -34
Enterprise Value (EV)		 13,184 15,647 18,085 19,144 27,362 35,285 49,130 41,360 58,651 86,322
Market Capitalization		 9,641 13,217 15,504 15,914 23,023 33,284 46,430 37,728 54,944 83,113
Book Value per Share		 $22.28 $25.72 $28.58 $28.59 $30.33 $26.68 $26.34 $26.44 $30.74 $33.14
Tangible Book Value per Share		 ($14.71) ($10.84) ($10.16) ($10.47) ($4.93) ($9.25) ($10.75) ($11.63) ($11.16) ($8.79)
Total Capital		 10,097 10,789 11,271 11,156 12,886 11,699 11,115 10,942 11,797 12,257
Total Debt		 4,218 4,070 4,064 4,091 5,573 5,272 4,842 4,836 4,780 4,770
Total Long-Term Debt		 3,714 3,709 2,957 3,741 4,923 4,497 4,492 3,788 3,978 4,318
Net Debt		 3,481 2,356 2,515 3,188 4,295 1,982 2,683 3,616 3,685 3,180
Capital Expenditures (CapEx)		 231 173 220 275 203 146 208 282 292 366
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 728 635 849 864 3,427 52 -90 520 523 131
Debt-free Net Working Capital (DFNWC)		 1,465 2,350 2,398 1,767 4,706 3,342 2,069 1,740 1,618 1,721
Net Working Capital (NWC)		 961 1,989 1,291 1,416 4,055 2,567 1,719 692 816 1,269
Net Nonoperating Expense (NNE)		 162 -149 259 -128 -43 310 210 226 290 233
Net Nonoperating Obligations (NNO)		 3,481 2,356 2,515 3,188 1,288 1,982 2,683 3,616 3,685 3,180
Total Depreciation and Amortization (D&A)		 364 352 353 282 289 294 299 324 348 379
Debt-free, Cash-free Net Working Capital to Revenue		 5.48% 4.70% 5.98% 7.00% 26.21% 0.42% -0.64% 3.25% 2.96% 0.66%
Debt-free Net Working Capital to Revenue		 11.02% 17.39% 16.89% 14.31% 35.99% 26.84% 14.64% 10.88% 9.15% 8.68%
Net Working Capital to Revenue		 7.23% 14.72% 9.09% 11.47% 31.01% 20.61% 12.16% 4.33% 4.62% 6.40%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.51 $5.70 $5.11 $5.41 $5.84 $3.56 $5.96 $7.55 $8.85 $11.35
Adjusted Weighted Average Basic Shares Outstanding		 256.85M 259.51M 249.89M 242.17M 238.40M 238.43M 233.54M 229.07M 227.07M 224.29M
Adjusted Diluted Earnings per Share		 $2.48 $5.65 $5.05 $5.35 $5.77 $3.52 $5.87 $7.48 $8.77 $11.24
Adjusted Weighted Average Diluted Shares Outstanding		 256.85M 259.51M 249.89M 242.17M 238.40M 238.43M 233.54M 229.07M 227.07M 224.29M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $5.84 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 256.85M 259.51M 249.89M 242.17M 238.40M 238.43M 233.54M 229.07M 227.07M 224.29M
Normalized Net Operating Profit after Tax (NOPAT)		 845 1,344 1,571 1,230 1,385 1,180 1,646 2,000 2,332 2,822
Normalized NOPAT Margin		 6.35% 9.95% 11.07% 9.96% 10.59% 9.47% 11.65% 12.51% 13.19% 14.23%
Pre Tax Income Margin		 9.38% 12.89% 9.99% 10.19% 10.70% 10.34% 12.67% 13.58% 14.52% 16.34%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 6.60 8.86 7.57 6.69 6.76 6.18 8.66 10.72 11.95 14.60
NOPAT to Interest Expense		 3.79 6.07 7.28 5.56 5.71 4.74 7.05 8.95 9.95 11.84
EBIT Less CapEx to Interest Expense		 5.56 8.08 6.55 5.45 5.92 5.59 7.77 9.46 10.70 13.06
NOPAT Less CapEx to Interest Expense		 2.75 5.29 6.26 4.32 4.87 4.16 6.16 7.69 8.70 10.30
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 45.78% 24.30% 34.50% 38.37% 36.81% 60.41% 40.09% 35.76% 34.12% 29.77%
Augmented Payout Ratio		 82.41% 41.05% 111.99% 104.69% 89.32% 89.15% 116.69% 103.39% 66.90% 79.23%

Quarterly Metrics and Ratios for Trane Technologies

This table displays calculated financial ratios and metrics derived from Trane Technologies' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 17.53% 14.14% 9.25% 12.27% 11.69% 8.60% 15.00% 12.81% 11.43% 10.17%
EBITDA Growth		 24.05% 25.41% 13.43% 16.18% 17.58% 15.01% 32.83% 22.90% 18.99% 19.34%
EBIT Growth		 25.03% 28.34% 15.46% 16.78% 18.51% 16.24% 36.08% 24.41% 20.69% 20.56%
NOPAT Growth		 31.30% 37.30% 17.17% 22.69% 11.27% 15.83% 38.10% 18.26% 20.14% 14.56%
Net Income Growth		 35.16% 416.88% 18.11% 14.72% 14.46% 14.32% 41.37% 28.64% 23.03% 20.55%
EPS Growth		 39.29% 43.51% 20.91% 18.06% 16.24% 15.43% 42.86% 29.41% 24.63% 22.12%
Operating Cash Flow Growth		 24.26% 78.01% 104.52% 24.26% 80.77% 22.95% 2,808.24% 32.81% 41.23% -3.73%
Free Cash Flow Firm Growth		 -219.66% -45.14% 58.64% -16.88% 40.34% -51.32% 23.13% 217.28% 279.54% 272.98%
Invested Capital Growth		 12.06% 8.54% 7.15% 12.17% 9.76% 10.09% 7.36% 2.53% 3.70% -0.32%
Revenue Q/Q Growth		 4.33% -6.82% -10.02% 28.34% 3.79% -9.39% -4.72% 25.90% 2.52% -10.42%
EBITDA Q/Q Growth		 2.02% -17.87% -20.23% 73.82% 3.25% -19.67% -7.87% 60.83% -0.04% -19.43%
EBIT Q/Q Growth		 1.66% -19.77% -22.64% 85.07% 3.16% -21.31% -9.43% 69.20% 0.08% -21.39%
NOPAT Q/Q Growth		 10.87% -19.92% -25.64% 85.83% 0.55% -16.64% -11.34% 59.13% 2.15% -20.51%
Net Income Q/Q Growth		 7.28% -19.62% -29.93% 89.87% 7.04% -19.72% -13.36% 72.78% 2.37% -21.34%
EPS Q/Q Growth		 8.33% -19.66% -29.26% 91.73% 6.67% -20.22% -12.44% 73.68% 2.73% -21.83%
Operating Cash Flow Q/Q Growth		 20.99% 49.02% -98.88% 6,064.71% 76.01% 1.36% -73.56% 181.51% 87.18% -30.92%
Free Cash Flow Firm Q/Q Growth		 -3.62% 35.50% -16.28% -50.41% 47.11% -63.58% 40.93% 329.49% -19.03% 57.61%
Invested Capital Q/Q Growth		 1.48% 0.99% 4.84% 4.40% -0.71% 1.29% 2.24% -0.29% 0.42% -2.64%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 32.77% 29.94% 31.19% 33.68% 33.96% 33.25% 34.63% 36.47% 36.29% 35.10%
EBITDA Margin		 18.41% 16.22% 14.38% 19.48% 19.38% 17.18% 16.61% 21.22% 20.69% 18.61%
Operating Margin		 16.91% 14.25% 12.46% 18.82% 17.70% 15.54% 15.04% 19.49% 18.83% 16.57%
EBIT Margin		 16.49% 14.20% 12.20% 17.60% 17.49% 15.19% 14.44% 19.41% 18.95% 16.63%
Profit (Net Income) Margin		 12.64% 10.90% 8.49% 12.56% 12.95% 11.47% 10.43% 14.32% 14.30% 12.55%
Tax Burden Percent		 83.07% 84.98% 79.81% 77.07% 79.40% 82.56% 79.86% 78.13% 80.37% 81.52%
Interest Burden Percent		 92.26% 90.35% 87.13% 92.56% 93.22% 91.46% 90.46% 94.42% 93.89% 92.62%
Effective Tax Rate		 15.74% 14.07% 18.78% 22.13% 19.78% 15.96% 19.16% 21.16% 18.71% 18.01%
Return on Invested Capital (ROIC)		 24.23% 20.97% 16.75% 24.49% 24.37% 22.61% 20.97% 26.85% 27.58% 25.22%
ROIC Less NNEP Spread (ROIC-NNEP)		 21.82% 19.23% 15.18% 22.05% 22.77% 20.69% 19.19% 25.51% 26.05% 23.76%
Return on Net Nonoperating Assets (RNNOA)		 10.35% 9.78% 9.60% 14.88% 13.81% 11.51% 12.09% 16.00% 13.12% 11.25%
Return on Equity (ROE)		 34.58% 30.76% 26.34% 39.37% 38.18% 34.12% 33.06% 42.84% 40.70% 36.47%
Cash Return on Invested Capital (CROIC)		 9.10% 13.23% 13.95% 10.23% 13.02% 13.24% 16.31% 21.61% 21.81% 26.74%
Operating Return on Assets (OROA)		 14.21% 12.56% 11.20% 16.18% 16.54% 14.33% 14.14% 18.69% 18.46% 16.68%
Return on Assets (ROA)		 10.89% 9.64% 7.79% 11.54% 12.25% 10.82% 10.21% 13.79% 13.93% 12.60%
Return on Common Equity (ROCE)		 34.52% 30.67% 26.27% 39.26% 38.09% 34.02% 32.96% 42.72% 40.58% 36.34%
Return on Equity Simple (ROE_SIMPLE)		 24.18% 0.00% 30.19% 30.33% 29.60% 0.00% 31.50% 33.68% 32.74% 0.00%
Net Operating Profit after Tax (NOPAT)		 623 499 371 689 693 578 512 815 833 662
NOPAT Margin		 14.25% 12.25% 10.12% 14.65% 14.20% 13.06% 12.15% 15.36% 15.31% 13.58%
Net Nonoperating Expense Percent (NNEP)		 2.41% 1.74% 1.57% 2.44% 1.60% 1.93% 1.78% 1.34% 1.53% 1.46%
Return On Investment Capital (ROIC_SIMPLE)		 - 4.56% - - - 4.90% - - - 5.40%
Cost of Revenue to Revenue		 67.23% 70.06% 68.81% 66.32% 66.04% 66.75% 65.37% 63.53% 63.71% 64.90%
SG&A Expenses to Revenue		 15.86% 15.69% 18.73% 14.86% 16.26% 17.71% 19.60% 16.98% 17.46% 18.53%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 15.86% 15.69% 18.73% 14.86% 16.26% 17.71% 19.60% 16.98% 17.46% 18.53%
Earnings before Interest and Taxes (EBIT)		 721 578 447 828 854 672 609 1,030 1,031 810
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 805 661 527 916 946 760 700 1,126 1,126 907
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 5.62 6.20 6.88 6.88 6.86 7.85 9.92 10.72 11.56 11.15
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.12 2.36 2.55 2.56 2.64 3.11 3.75 3.95 4.52 4.19
Price to Earnings (P/E)		 23.51 21.48 23.03 22.91 23.39 27.15 31.73 32.06 35.55 32.37
Dividend Yield		 1.83% 1.64% 1.52% 1.50% 1.46% 1.24% 1.03% 0.97% 0.84% 0.91%
Earnings Yield		 4.25% 4.66% 4.34% 4.37% 4.28% 3.68% 3.15% 3.12% 2.81% 3.09%
Enterprise Value to Invested Capital (EV/IC)		 3.81 4.25 4.48 4.46 4.70 5.48 6.61 7.19 8.31 8.09
Enterprise Value to Revenue (EV/Rev)		 2.37 2.59 2.80 2.82 2.87 3.32 3.97 4.16 4.70 4.35
Enterprise Value to EBITDA (EV/EBITDA)		 14.19 15.21 16.43 16.31 16.29 18.62 21.78 22.20 24.54 22.37
Enterprise Value to EBIT (EV/EBIT)		 16.17 17.27 18.61 18.43 18.35 20.93 24.42 24.77 27.26 24.80
Enterprise Value to NOPAT (EV/NOPAT)		 19.67 20.68 22.24 21.73 22.06 25.15 29.25 30.19 33.27 30.58
Enterprise Value to Operating Cash Flow (EV/OCF)		 31.33 27.50 26.87 26.32 22.44 24.54 27.53 28.00 28.64 27.44
Enterprise Value to Free Cash Flow (EV/FCFF)		 44.23 33.48 33.24 46.10 37.82 43.39 41.99 33.68 38.82 30.22
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.82 0.79 0.80 0.80 0.72 0.68 0.71 0.76 0.69 0.64
Long-Term Debt to Equity		 0.65 0.62 0.74 0.71 0.67 0.57 0.58 0.62 0.57 0.58
Financial Leverage		 0.47 0.51 0.63 0.67 0.61 0.56 0.63 0.63 0.50 0.47
Leverage Ratio		 2.91 2.92 2.94 3.04 2.92 2.86 2.87 2.95 2.78 2.73
Compound Leverage Factor		 2.68 2.64 2.56 2.82 2.72 2.61 2.60 2.79 2.61 2.52
Debt to Total Capital		 45.18% 44.20% 44.38% 44.47% 41.86% 40.52% 41.39% 43.06% 40.90% 38.92%
Short-Term Debt to Total Capital		 9.81% 9.58% 3.20% 4.87% 3.02% 6.80% 7.65% 7.78% 7.39% 3.69%
Long-Term Debt to Total Capital		 35.38% 34.62% 41.18% 39.60% 38.84% 33.72% 33.74% 35.28% 33.51% 35.23%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.09% 0.15% 0.17% 0.16% 0.16% 0.18% 0.18% 0.17% 0.18% 0.24%
Common Equity to Total Capital		 54.72% 55.65% 55.46% 55.37% 57.98% 59.30% 58.43% 56.78% 58.92% 60.84%
Debt to EBITDA		 1.87 1.78 1.74 1.73 1.58 1.52 1.47 1.49 1.42 1.24
Net Debt to EBITDA		 1.45 1.33 1.49 1.50 1.27 1.17 1.21 1.12 0.90 0.82
Long-Term Debt to EBITDA		 1.47 1.39 1.61 1.54 1.47 1.26 1.20 1.22 1.16 1.12
Debt to NOPAT		 2.59 2.42 2.35 2.30 2.14 2.05 1.97 2.03 1.92 1.69
Net Debt to NOPAT		 2.01 1.81 2.01 2.00 1.72 1.58 1.63 1.52 1.22 1.13
Long-Term Debt to NOPAT		 2.03 1.89 2.18 2.05 1.99 1.71 1.61 1.66 1.58 1.53
Altman Z-Score		 3.38 3.57 3.82 3.77 4.08 4.40 5.05 5.18 5.78 5.81
Noncontrolling Interest Sharing Ratio		 0.18% 0.27% 0.30% 0.28% 0.23% 0.29% 0.30% 0.29% 0.29% 0.35%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 1.14 1.12 1.26 1.19 1.29 1.13 1.13 1.17 1.22 1.21
Quick Ratio		 0.52 0.70 0.54 0.57 0.60 0.67 0.48 0.59 0.58 0.77
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -413 -266 -309 -465 -246 -403 -238 546 442 696
Operating Cash Flow to CapEx		 866.21% 854.27% 11.02% 920.91% 1,108.53% 1,119.52% 294.99% 954.60% 1,475.20% 716.48%
Free Cash Flow to Firm to Interest Expense		 -7.39 -4.77 -5.37 -7.55 -4.25 -7.01 -4.09 9.49 7.01 11.65
Operating Cash Flow to Interest Expense		 9.14 13.63 0.15 8.51 15.93 16.29 4.25 12.10 20.68 15.05
Operating Cash Flow Less CapEx to Interest Expense		 8.09 12.03 -1.19 7.58 14.49 14.83 2.81 10.83 19.27 12.95
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.86 0.89 0.92 0.92 0.95 0.94 0.98 0.96 0.97 1.00
Accounts Receivable Turnover		 5.84 6.14 6.47 5.64 5.77 6.16 6.57 5.68 5.93 6.56
Inventory Turnover		 6.24 6.26 5.30 5.39 5.66 5.70 5.10 5.40 5.94 6.19
Fixed Asset Turnover		 11.19 10.90 10.85 10.92 11.12 10.69 10.82 10.81 10.80 10.45
Accounts Payable Turnover		 5.60 5.69 5.74 5.48 5.64 5.74 6.07 5.65 5.85 6.11
Days Sales Outstanding (DSO)		 62.45 59.45 56.38 64.66 63.30 59.23 55.53 64.29 61.52 55.63
Days Inventory Outstanding (DIO)		 58.53 58.33 68.80 67.71 64.47 64.01 71.56 67.62 61.46 58.99
Days Payable Outstanding (DPO)		 65.14 64.20 63.55 66.66 64.68 63.56 60.12 64.62 62.37 59.70
Cash Conversion Cycle (CCC)		 55.85 53.59 61.63 65.71 63.09 59.68 66.97 67.29 60.61 54.92
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 9,626 9,721 10,192 10,640 10,565 10,702 10,942 10,910 10,956 10,667
Invested Capital Turnover		 1.70 1.71 1.65 1.67 1.72 1.73 1.73 1.75 1.80 1.86
Increase / (Decrease) in Invested Capital		 1,036 765 680 1,155 939 981 750 270 391 -34
Enterprise Value (EV)		 36,676 41,360 45,690 47,451 49,701 58,651 72,365 78,417 91,089 86,322
Market Capitalization		 32,909 37,728 41,535 43,070 45,817 54,944 68,313 74,454 87,725 83,113
Book Value per Share		 $25.28 $26.44 $26.35 $27.44 $29.26 $30.74 $30.30 $30.69 $33.64 $33.14
Tangible Book Value per Share		 ($11.88) ($11.63) ($11.86) ($12.62) ($10.40) ($11.16) ($11.26) ($10.88) ($8.81) ($8.79)
Total Capital		 10,706 10,942 10,884 11,304 11,525 11,797 11,792 12,236 12,884 12,257
Total Debt		 4,837 4,836 4,830 5,027 4,825 4,780 4,881 5,268 5,269 4,770
Total Long-Term Debt		 3,788 3,788 4,482 4,477 4,476 3,978 3,979 4,316 4,317 4,318
Net Debt		 3,757 3,616 4,137 4,363 3,865 3,685 4,031 3,942 3,342 3,180
Capital Expenditures (CapEx)		 59 89 77 57 83 84 84 73 88 126
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 723 520 899 968 901 523 838 748 495 131
Debt-free Net Working Capital (DFNWC)		 1,804 1,740 1,592 1,632 1,861 1,618 1,687 2,074 2,423 1,721
Net Working Capital (NWC)		 754 692 1,243 1,082 1,513 816 785 1,122 1,471 1,269
Net Nonoperating Expense (NNE)		 71 55 60 99 61 70 73 55 55 50
Net Nonoperating Obligations (NNO)		 3,757 3,616 4,137 4,363 3,865 3,685 4,031 3,942 3,342 3,180
Total Depreciation and Amortization (D&A)		 84 83 80 88 92 88 92 96 95 97
Debt-free, Cash-free Net Working Capital to Revenue		 4.67% 3.25% 5.51% 5.76% 5.20% 2.96% 4.59% 3.97% 2.56% 0.66%
Debt-free Net Working Capital to Revenue		 11.65% 10.88% 9.76% 9.70% 10.74% 9.15% 9.26% 11.01% 12.50% 8.68%
Net Working Capital to Revenue		 4.87% 4.33% 7.63% 6.43% 8.73% 4.62% 4.31% 5.96% 7.59% 6.40%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.36 $1.90 $1.34 $2.57 $2.74 $2.20 $1.92 $3.33 $3.42 $2.68
Adjusted Weighted Average Basic Shares Outstanding		 231.90M 229.07M 229.30M 228.50M 228.60M 227.07M 227.40M 226.60M 225.80M 224.29M
Adjusted Diluted Earnings per Share		 $2.34 $1.88 $1.33 $2.55 $2.72 $2.17 $1.90 $3.30 $3.39 $2.65
Adjusted Weighted Average Diluted Shares Outstanding		 234M 229.07M 231.50M 230.30M 230.60M 227.07M 229.50M 228.70M 228M 224.29M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 230.31M 229.07M 228.05M 228.40M 227.56M 227.07M 226.35M 225.67M 225.02M 224.29M
Normalized Net Operating Profit after Tax (NOPAT)		 623 499 371 689 693 578 512 815 833 662
Normalized NOPAT Margin		 14.25% 12.25% 10.12% 14.65% 14.20% 13.06% 12.15% 15.36% 15.31% 13.58%
Pre Tax Income Margin		 15.21% 12.83% 10.63% 16.29% 16.31% 13.90% 13.06% 18.33% 17.79% 15.40%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 12.92 10.36 7.77 13.44 14.75 11.71 10.48 17.91 16.36 13.55
NOPAT to Interest Expense		 11.17 8.94 6.44 11.19 11.97 10.07 8.82 14.18 13.22 11.07
EBIT Less CapEx to Interest Expense		 11.86 8.77 6.43 12.52 13.32 10.26 9.04 16.65 14.96 11.45
NOPAT Less CapEx to Interest Expense		 10.11 7.35 5.10 10.27 10.54 8.61 7.38 12.91 11.82 8.97
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 43.82% 35.76% 35.64% 34.93% 34.30% 34.12% 32.98% 31.46% 30.32% 29.77%
Augmented Payout Ratio		 142.66% 103.39% 98.75% 79.72% 72.71% 66.90% 63.83% 73.93% 76.01% 79.23%

Frequently Asked Questions About Trane Technologies' Financials

When does Trane Technologies's fiscal year end?

According to the most recent income statement we have on file, Trane Technologies' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Trane Technologies' net income changed over the last 9 years?

Trane Technologies' net income appears to be on an upward trend, with a most recent value of $2.59 billion in 2024, rising from $682.80 million in 2015. The previous period was $2.04 billion in 2023.

What is Trane Technologies's operating income?
Trane Technologies's total operating income in 2024 was $3.50 billion, based on the following breakdown:
  • Total Gross Profit: $7.08 billion
  • Total Operating Expenses: $3.58 billion
How has Trane Technologies revenue changed over the last 9 years?

Over the last 9 years, Trane Technologies' total revenue changed from $13.30 billion in 2015 to $19.84 billion in 2024, a change of 49.2%.

How much debt does Trane Technologies have?

Trane Technologies' total liabilities were at $12.66 billion at the end of 2024, a 2.3% increase from 2023, and a 16.8% increase since 2015.

How much cash does Trane Technologies have?

In the past 9 years, Trane Technologies' cash and equivalents has ranged from $736.80 million in 2015 to $3.29 billion in 2020, and is currently $1.59 billion as of their latest financial filing in 2024.

How has Trane Technologies' book value per share changed over the last 9 years?

Over the last 9 years, Trane Technologies' book value per share changed from 22.28 in 2015 to 33.14 in 2024, a change of 48.7%.

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This page (NYSE:TT) was last updated on 4/16/2025 by MarketBeat.com Staff
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