Trane Technologies (TT) FY2015 results: revenue $13.3 billion, up 3.2% on the year
Trane Technologies plc (TT) reported revenue of $13.3 billion for fiscal 2015, the year ended 31 December 2015, up 3.2% on the year before. Net income was $665 million, down 28.7%, and diluted earnings per share $2.48. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2016.
Revenue
$13.3 billion
+3.2% on the year
FY2008FY2015
Operating margin
11.2%
10.9% a year earlier
FY2008FY2015
Net income
$665 million
-28.7% on the year
FY2008FY2015
Diluted EPS
$2.48
-27.1% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
13,301
12,891
12,350
+3.2%
Cost of revenue
9,277
8,983
8,722
+3.3%
Gross profit
4,023
3,909
3,628
+2.9%
Gross margin
30.2%
30.3%
29.4%
Research and development
206
212
218
-3.0%
Selling, general and administrative
2,532
2,504
2,523
+1.1%
Operating income
1,492
1,405
1,105
+6.2%
Operating margin
11.2%
10.9%
8.9%
Interest expense
223
225
279
-1.0%
Pre-tax income
1,248
1,209
830
+3.2%
Income tax
541
294
189
+84.1%
Effective tax rate
43.3%
24.3%
22.8%
Net income
665
932
619
-28.7%
Net margin
5.0%
7.2%
5.0%
Diluted EPS
$2.48
$3.40
$2.07
-27.1%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
888
973
1,092
-8.7%
Capital expenditure
250
234
242
+6.9%
Free cash flow
639
740
849
-13.6%
Free cash flow margin
4.8%
5.7%
6.9%
Cash from investing
-1,193
-197
-215
Cash from financing
-528
-860
347
Depreciation and amortisation
364
332
334
+9.5%
Share-based compensation
62.7
67.7
71.8
-7.4%
Buybacks
250
1,375
1,213
-81.8%
Dividends paid
303
265
246
+14.6%
Dividend per share
$1.16
$1.00
$0.63
+16.0%
Diluted shares, weighted
268m
274m
298m
-2.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
5,817
5,987
7,069
-2.9%
Non-controlling interest
62.5
58.0
62.4
+7.8%
Debt
4,218
4,224
3,504
-0.2%
Other liabilities
6,642
7,029
7,022
-5.5%
Total liabilities and equity
16,739
17,298
17,658
-3.2%
Fixed assets
1,575
1,477
1,468
+6.6%
Goodwill
5,730
5,390
5,541
+6.3%
Intangible assets
3,926
3,784
3,922
+3.8%
Cash and equivalents
737
1,705
1,937
-56.8%
Receivables
2,151
2,119
2,072
+1.5%
Inventory
1,411
1,359
1,166
+3.8%
Other assets
1,209
1,465
1,552
-17.4%
Total assets
16,739
17,298
17,658
-3.2%
10-K for the year ended 31 December 2015, filed 12 February 2016: the filing.