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Trane Technologies TT Debt-to-equity

Debt-to-equity at other companies

EMCOR Group logo
EMCOR GroupEME
0.1×0.0×
Johnson Controls International logo
Johnson Controls InternationalJCI
0.1×-0.5×
Comfort Systems USA logo
Comfort Systems USAFIX
0.1×0.0×
Lennox International logo
Lennox InternationalLII
1.4×-0.2×
Carrier Global logo
Carrier GlobalCARR
0.9×+0.1×
Vertiv Holdings Co logo
Vertiv Holdings CoVRT
0.7×-0.4×

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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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+84.5%
CapEx$79.7M-33.0%
Free cash flow$546.5M+148%

Valuation

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Market cap$104.45B+22.1%
P/E36×+4.8×
P/S4.8×+0.6×

Profitability

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Gross margin31.8%
Operating margin18.2%0.0pp
Net margin13.4%-0.1pp

Returns & leverage

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Return on equity36%-2.0pp
Current ratio1.1×0.0×

Where this comes from

Calculated from Trane Technologies’s reported figures.

Based on the most recent quarter.

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 debt-to-equity?
Trane Technologies (TT) reported debt-to-equity of 0.5× in Q1 2026.
How has Trane Technologies's debt-to-equity changed year-over-year?
Trane Technologies's debt-to-equity decreased by 28.3% year-over-year, from 0.6× to 0.5×.
What is the long-term trend for Trane Technologies's debt-to-equity?
Over 4 years (2021 to 2025), Trane Technologies's debt-to-equity has grown at a -5.9% compound annual growth rate (CAGR), from 3.1× to 2.4×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.