What is Trane Technologies's acquisitions?

Trane Technologies (TT) reported acquisitions of $668.2M in Q1 2026.

How has Trane Technologies's acquisitions changed year-over-year?

Trane Technologies's acquisitions increased by 151.9% year-over-year, from $265.3M to $668.2M.

What is the long-term trend for Trane Technologies's acquisitions?

Over 2 years (2021 to 2025), Trane Technologies's acquisitions has grown at a 1.3% compound annual growth rate (CAGR), from $269.2M to $276M.

What does acquisitions mean?

Cash paid for business acquisitions net of cash acquired in the target company — the primary M&A cash flow line.

Trane Technologies TT Acquisitions

Acquisitions at other companies

Modine ManufacturingMOD

$0-100%

SPX TechnologiesSPXC

$439.6M+44.6%

WSO

WatscoWSO

$0-100%

EMCOR GroupEME

$43.67M-94.9%

Comfort Systems USAFIX

$6.1M-91.1%

Lennox InternationalLII

$136.25M+30,378%

Other financials

Income statement

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Revenue$5.0B+6.0%

Gross profit$1.7B+3.0%

Operating income$776.1M-5.2%

Net income$584.4M-3.4%

EPS (diluted)$2.62-1.9%

Balance sheet

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Cash & equivalents$1.8B+10.9%

Total debt$3.9B-17.8%

Total equity$8.6B+14.7%

Total assets$22.8B+13.1%

Cash flow

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Operating cash flow$626.2M+84.4%

CapEx$79.7M-33.0%

Free cash flow$546.5M+148%

Valuation

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Market cap$111.29B+18.9%

P/E38.4×+4.2×

P/S5.2×+0.5×

Profitability

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Gross margin31.8%—

Operating margin18.2%0.0pp

Net margin13.4%-0.1pp

FCF margin14.5%+0.6pp

Returns & leverage

See full

Return on equity36%-2.0pp

Debt / equity0.5×-0.2×

Current ratio1.1×0.0×

Where this comes from

Reported directly by Trane Technologies in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired.

The official record: Trane Technologies’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Trane Technologies's acquisitions?: Trane Technologies (TT) reported acquisitions of $668.2M in Q1 2026.
How has Trane Technologies's acquisitions changed year-over-year?: Trane Technologies's acquisitions increased by 151.9% year-over-year, from $265.3M to $668.2M.
What is the long-term trend for Trane Technologies's acquisitions?: Over 2 years (2021 to 2025), Trane Technologies's acquisitions has grown at a 1.3% compound annual growth rate (CAGR), from $269.2M to $276M.
What does acquisitions mean?: Cash paid for business acquisitions net of cash acquired in the target company — the primary M&A cash flow line.