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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$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$106.86B+22.1%
P/E36.9×+4.9×
P/S+0.6×

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

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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:RevenueFromContractWithCustomerExcludingAssessedTax.

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 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.