Trane Technologies plc (TT)

Name: Trane Technologies plc (TT): results, filings decoded, planned insider sales, 13F holders, insiders, Congress and short interest
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

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Trane Technologies plc (TT) reported revenue of $6.4 billion for Q2 FY2026, the quarter ended 30 June 2026, up 10.6% on the same quarter a year earlier. Net income was $926 million, up 5.8% on the year, and diluted earnings per share $4.16. The figures are the company's own, from the 10-Q it filed with the SEC on 30 July 2026.

Revenue$6.4 billionup 10.6%

Net income$926 millionup 5.8%

Diluted EPS$4.16

QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE34.2%

ROCE31.8%

Operating margin17.9%

Net margin13.3%

FCF margin16.0%

Interest cover18.12

Debt to equity0.46

Cash conversion1.31

Share count, 1 year-1.1%

Sales CAGR, 3 years10.1%

Profit CAGR, 3 years18.4%

EPS, TTM$13.20

At the close of 21 September 2026

Price$433.32

Market cap$95.3 billion

Stock P/E32.83

Price to book11.06

EV / EBITDA22.69

Dividend yield0.9%

Market cap / sales4.29

52-week high$503.46

52-week low$376.43

Price, 1 year6.6%

Price CAGR, 3 years29.3%

Price CAGR, 5 years18.9%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Trane Technologies plc files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

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50-day average 200-day average Volume

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on TT

Filings	21 in twelve months: 9 current reports (8-K), about 4 results of operations; 2 officer or director change; 1 regulation fd disclosure; 1 shareholder vote; 1 material agreement
Planned insider sales	17 Form 144 notices in twelve months, $53.1 million; latest 5 August 2026
Options tape	put/call 0.38 by open interest on 23 September 2026; the straddle prices a 5.7% move to 16 October 2026
Holders	10 of the followed funds hold it; largest FMR LLC; 5 Schedule 13D or 13G filings in twelve months
Insider trading	18 sales and 1 purchase on Form 4 in twelve months
Congress	0 House trades disclosed in six months
Short interest	3.0 million shares short, 3.07 days to cover at 31 August 2026
Documents	the 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	4,883	4,424	4,216	5,307	5,441	4,874	4,688	5,746	5,742	5,144	4,969	6,354
Cost of revenue	3,225	n/a	2,756	3,372	3,467	n/a	3,011	3,586	3,624	n/a	3,241	4,094
Gross profit	1,658	n/a	1,460	1,936	1,974	n/a	1,678	2,161	2,118	n/a	1,728	2,260
Gross margin	34%	n/a	35%	36%	36%	n/a	36%	38%	37%	n/a	35%	36%
SG&A	794	784	826	901	950	903	859	996	953	935	952	1,035
Operating income	864	688	634	1,034	1,025	808	819	1,164	1,165	819	776	1,224
Operating margin	18%	16%	15%	19%	19%	17%	17%	20%	20%	16%	16%	19%
Interest expense	57.9	57.4	58.1	57.5	63.0	59.8	58.1	57.4	55.6	55.6	55.6	53.1
Pre-tax income	796	615	551	973	968	751	753	1,093	1,092	741	n/a	n/a
Tax rate	20%	16%	19%	21%	19%	18%	18%	20%	21%	17%	n/a	n/a
Net income	626	504	436	755	772	604	605	875	848	591	584	926
Net margin	13%	11%	10%	14%	14%	12%	13%	15%	15%	11%	12%	15%
Diluted EPS	$2.72	$2.17	$1.90	$3.30	$3.39	$2.65	$2.67	$3.89	$3.78	$2.64	$2.62	$4.16
Operating cash flow	922	935	247	696	1,303	900	340	692	1,004	1,159	626	1,088
Capital expenditure	83.2	83.5	83.8	72.9	88.3	126	119	89.9	68.4	106	79.7	76.4
Free cash flow	839	851	163	623	1,214	774	221	602	936	1,053	546	1,011
Buybacks	160	210	300	324	302	355	478	402	370	231	287	469
Dividends paid	172	171	190	190	189	189	210	210	209	208	232	232
Shares outstanding	228m	252m	226m	226m	225m	249m	223m	223m	222m	221m	221m	220m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

	FY2014	FY2015 †	FY2016 †	FY2017 †	FY2018 †	FY2019 †	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Revenue	12,891	13,301	13,509	14,198	12,344	13,076	12,455	14,136	15,992	17,678	19,838	21,322	22,210
Cost of revenue	8,983	9,277	9,308	9,812	8,582	9,086	8,651	n/a	n/a	n/a	n/a	n/a	n/a
Gross profit	3,909	3,999	4,180	4,386	4,821	5,147	3,803	n/a	n/a	n/a	n/a	n/a	n/a
Gross margin	30.3%	30.1%	30.9%	30.9%	39.1%	39.4%	30.5%	n/a	n/a	n/a	n/a	n/a	n/a
Research and development	212	206	208	211	167	174	165	194	211	252	310	348	n/a
Selling, general and administrative	2,504	2,532	2,598	2,721	2,249	2,320	2,271	2,446	2,546	2,963	3,580	3,743	3,875
Operating income	1,405	1,492	1,603	1,665	1,512	1,670	1,533	2,023	2,419	2,894	3,500	3,967	3,985
Operating margin	10.9%	11.2%	11.9%	11.7%	12.2%	12.8%	12.3%	14.3%	15.1%	16.4%	17.6%	18.6%	17.9%
Interest expense	225	223	222	216	221	243	249	234	224	234	238	227	220
Pre-tax income	1,209	1,248	1,741	1,418	1,258	1,399	1,288	1,791	2,172	2,567	3,242	3,679	n/a
Income tax	294	541	282	80.2	235	239	297	334	376	498	628	706	709
Effective tax rate	24.3%	43.3%	16.2%	5.7%	18.7%	17.1%	23.0%	18.6%	17.3%	19.4%	19.4%	19.2%	n/a
Net income	932	665	1,476	1,303	1,338	1,411	855	1,423	1,756	2,024	2,568	2,919	2,949
Net margin	7.2%	5.0%	10.9%	9.2%	10.8%	10.8%	6.9%	10.1%	11.0%	11.4%	12.9%	13.7%	13.3%
Diluted EPS	$3.40	$2.48	$5.65	$5.05	$5.35	$5.77	$3.52	$5.87	$7.48	$8.77	$11.24	$12.98	$13.20
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

	FY2014	FY2015 †	FY2016 †	FY2017 †	FY2018 †	FY2019 †	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Operating cash flow	973	888	1,522	1,524	1,408	1,920	1,435	1,588	1,504	2,390	3,146	3,194	3,877
Capital expenditure	234	250	183	221	285	205	146	223	292	301	371	383	330
Free cash flow	740	639	1,339	1,302	1,123	1,714	1,289	1,365	1,212	2,089	2,775	2,812	3,546
Free cash flow margin	5.7%	4.8%	9.9%	9.2%	9.1%	13.1%	10.3%	9.7%	7.6%	11.8%	14.0%	13.2%	16.0%
Depreciation and amortisation	332	364	352	353	362	397	294	299	324	348	379	376	390
Share-based compensation	67.7	62.7	69.6	70.8	78.8	66.4	69.5	66.5	56.3	64.3	82.9	86.6	91.9
Buybacks	1,375	250	250	1,017	900	750	250	1,100	1,200	669	1,281	1,481	1,358
Dividends paid	265	303	349	430	480	510	507	561	620	684	758	837	880
Dividend per share	$1.00	$1.16	$0.00	$1.70	$1.96	$2.12	$2.12	$2.36	$2.68	$3.00	$3.36	$3.76	n/a
Diluted shares, weighted	274m	268m	262m	258m	250m	244m	243m	242m	235m	231m	228m	225m	222m
Shares outstanding at period end	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	253m	252m	249m	n/a	220m
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

	FY2014	FY2015 †	FY2016 †	FY2017 †	FY2018 †	FY2019 †	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Total assets	17,298	16,739	17,397	18,173	17,915	20,492	18,157	18,060	18,082	19,392	20,147	21,421	23,926
Cash and equivalents	1,705	737	1,715	1,524	878	1,279	3,290	2,159	1,220	1,095	1,590	1,763	n/a
Receivables	2,119	2,151	2,223	2,477	2,679	2,185	2,202	2,429	2,780	2,957	3,090	3,235	4,235
Inventory	1,359	1,411	1,386	1,555	1,678	1,279	1,189	1,531	1,994	2,152	1,972	2,104	2,617
Goodwill	5,390	5,730	5,658	5,936	5,099	5,126	5,343	5,505	5,504	6,095	6,128	6,457	7,032
Long-term debt	4,108	4,086	4,060	4,057	4,091	5,573	5,272	4,842	4,836	4,780	4,770	4,615	3,924
Operating lease liabilities	n/a	n/a	n/a	n/a	n/a	394	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shareholders' equity	5,987	5,817	6,644	7,140	7,023	7,268	6,408	6,256	6,089	6,995	7,457	8,579	8,623
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

	10 years	5 years	3 years	TTM
Sales growth, compounded	4.8%	11.4%	10.1%	7.0%
Profit growth, compounded	15.9%	27.8%	18.4%	3.3%
Return on equity, average	24.1%	29.8%	32.5%	34.0%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Filings

Filing	Period	Filed	Where
10-Q	30 June 2026	30 July 2026	EDGAR
10-Q	31 March 2026	30 April 2026	EDGAR
10-K	31 December 2025	5 February 2026	EDGAR
10-Q	30 September 2025	30 October 2025	EDGAR
10-Q	30 June 2025	30 July 2025	EDGAR
10-Q	31 March 2025	30 April 2025	EDGAR
10-K	31 December 2024	6 February 2025	EDGAR
10-Q	30 September 2024	30 October 2024	EDGAR
10-Q	30 June 2024	31 July 2024	EDGAR
10-Q	31 March 2024	30 April 2024	EDGAR

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