Trane Technologies (TT) FY2016 results: revenue $13.5 billion, up 1.6% on the year
Trane Technologies plc (TT) reported revenue of $13.5 billion for fiscal 2016, the year ended 31 December 2016, up 1.6% on the year before. Net income was $1.5 billion, up 122.1%, and diluted earnings per share $5.65. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2019.
Revenue
$13.5 billion
+1.6% on the year
FY2009FY2016
Operating margin
11.9%
11.2% a year earlier
FY2009FY2016
Net income
$1.5 billion
+122.1% on the year
FY2009FY2016
Diluted EPS
$5.65
+127.8% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
13,509
13,301
12,891
+1.6%
Cost of revenue
9,308
9,277
8,983
+0.3%
Gross profit
4,201
4,023
3,909
+4.4%
Gross margin
31.1%
30.2%
30.3%
Research and development
208
206
212
+1.0%
Selling, general and administrative
2,598
2,532
2,504
+2.6%
Operating income
1,603
1,492
1,405
+7.5%
Operating margin
11.9%
11.2%
10.9%
Interest expense
222
223
225
-0.7%
Pre-tax income
1,741
1,248
1,209
+39.5%
Income tax
282
541
294
-47.9%
Effective tax rate
16.2%
43.3%
24.3%
Net income
1,476
665
932
+122.1%
Net margin
10.9%
5.0%
7.2%
Diluted EPS
$5.65
$2.48
$3.40
+127.8%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,522
888
973
+71.3%
Capital expenditure
183
250
234
-26.8%
Free cash flow
1,339
639
740
+109.6%
Free cash flow margin
9.9%
4.8%
5.7%
Cash from investing
240
-1,193
-197
Cash from financing
-727
-528
-860
Depreciation and amortisation
352
364
332
-3.3%
Share-based compensation
69.6
62.7
67.7
+11.0%
Buybacks
250
250
1,375
0.0%
Dividends paid
349
303
265
+14.9%
Dividend per share
$0.00
$1.16
$1.00
Diluted shares, weighted
262m
268m
274m
-2.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
6,644
5,817
5,987
+14.2%
Non-controlling interest
74.5
62.5
58.0
+19.2%
Debt
4,060
4,218
4,224
-3.7%
Other liabilities
6,619
6,642
7,029
-0.3%
Total liabilities and equity
17,397
16,739
17,298
+3.9%
Fixed assets
1,511
1,575
1,477
-4.1%
Goodwill
5,658
5,730
5,390
-1.3%
Intangible assets
3,785
3,926
3,784
-3.6%
Cash and equivalents
1,715
737
1,705
+132.7%
Receivables
2,223
2,151
2,119
+3.4%
Inventory
1,386
1,411
1,359
-1.8%
Other assets
1,119
1,209
1,465
-7.4%
Total assets
17,397
16,739
17,298
+3.9%
10-K for the year ended 31 December 2016, filed 12 February 2019: the filing.