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Trane Technologies TT Operating margin

Operating margin at other companies

EMCOR Group logo
EMCOR GroupEME
10.1%+0.8pp
Comfort Systems USA logo
Comfort Systems USAFIX
13.4%+3.5pp
Lennox International logo
Lennox InternationalLII
19.7%+0.3pp
Carrier Global logo
Carrier GlobalCARR
8.2%-4.7pp
Vertiv Holdings Co logo
Vertiv Holdings CoVRT
18.3%+0.9pp
Ferguson Enterprises logo
Ferguson EnterprisesFERG
8.7%-0.1pp

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%
Net margin13.4%-0.1pp

Returns & leverage

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Return on equity36%-2.0pp
Debt / equity0.5×-0.2×
Current ratio1.1×0.0×

Where this comes from

Calculated from Trane Technologies’s reported figures.

Based on trailing twelve months.

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 operating margin?
Trane Technologies (TT) reported operating margin of 18.2% in Q1 2026.
How has Trane Technologies's operating margin changed year-over-year?
Trane Technologies's operating margin increased by 0.1% year-over-year, from 18.1% to 18.2%.
What is the long-term trend for Trane Technologies's operating margin?
Over 4 years (2021 to 2025), Trane Technologies's operating margin has grown at a 6.9% compound annual growth rate (CAGR), from 56.7% to 73.9%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.