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Trane Technologies TT Product — Net revenues

Other product segments

Service
$1.73B+13.9%

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Other financials

Income statement

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Revenue$6.4B+10.6%
Gross profit$10.4B+384%
Operating income$1.2B+5.2%
Net income$925.7M+5.8%
EPS (diluted)$4.16+6.9%

Balance sheet

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Cash & equivalents$1.8B+10.9%
Total debt$4.6B0.0%
Total equity$8.6B+10.4%
Total assets$23.9B+14.0%

Cash flow

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Operating cash flow$1.1B+57.2%
CapEx$76.4M-15.0%
Free cash flow$1.1B+75.4%

Valuation

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Market cap$104.95B+9.7%
P/E35.6×+2.1×
P/S4.7×+0.1×

Profitability

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Gross margin31.8%
Operating margin17.9%-0.4pp
Net margin13.3%-0.5pp
FCF margin16.2%+2.6pp

Returns & leverage

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Return on equity35.8%-2.9pp
Debt / equity0.5×-0.1×
Current ratio1.1×0.0×

Where this comes from

Reported directly by Trane Technologies in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Trane Technologies’s 10-Q, filed April 30, 2026.

Filed
Apr 30, 2026, 1:32 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-028743
In millions, except per share amountsThree months ended / March 31, 2026Three months ended / March 31, 2025
Net revenues$4,969.4$4,688.5
Cost of goods sold(3,241.3)(3,011.0)
Selling and administrative expenses(952.0)(858.6)
Operating income776.1818.9
Interest expense(55.6)(58.1)
Other income/(expense), net15.3(7.9)
Earnings before income taxes735.8752.9
Provision for income taxes(136.3)(134.9)

Item 1.Financial Statements

FAQ

What is Trane Technologies's product — net revenues?
Trane Technologies (TT) reported product — net revenues of $3.24B in Q1 2026.
How has Trane Technologies's product — net revenues changed year-over-year?
Trane Technologies's product — net revenues increased by 2.2% year-over-year, from $3.17B to $3.24B.
What is the long-term trend for Trane Technologies's product — net revenues?
Over 3 years (2021 to 2025), Trane Technologies's product — net revenues has grown at a 13.8% compound annual growth rate (CAGR), from $9.5B to $13.98B.
What does product — net revenues mean?
This metric represents the total gross revenue generated from the sale of physical equipment and hardware within a specific business segment, excluding revenue derived from aftermarket services or maintenance contracts. It serves as a primary indicator of market demand for the company's core manufactured offerings and reflects the volume and pricing power of the product portfolio. Tracking this allows investors to isolate the performance of the core manufacturing business from recurring service-based revenue streams.

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