Trane Technologies (TT) FY2017 results: revenue $14.2 billion, up 5.1% on the year
Trane Technologies plc (TT) reported revenue of $14.2 billion for fiscal 2017, the year ended 31 December 2017, up 5.1% on the year before. Net income was $1.3 billion, down 11.8%, and diluted earnings per share $5.05. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2019.
Revenue
$14.2 billion
+5.1% on the year
FY2010FY2017
Operating margin
11.7%
11.9% a year earlier
FY2010FY2017
Net income
$1.3 billion
-11.8% on the year
FY2010FY2017
Diluted EPS
$5.05
-10.6% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
14,198
13,509
13,301
+5.1%
Cost of revenue
9,812
9,308
9,277
+5.4%
Gross profit
4,386
4,201
4,023
+4.4%
Gross margin
30.9%
31.1%
30.2%
Research and development
211
208
206
+1.4%
Selling, general and administrative
2,721
2,598
2,532
+4.7%
Operating income
1,665
1,603
1,492
+3.9%
Operating margin
11.7%
11.9%
11.2%
Interest expense
216
222
223
-2.6%
Pre-tax income
1,418
1,741
1,248
-18.6%
Income tax
80.2
282
541
-71.5%
Effective tax rate
5.7%
16.2%
43.3%
Net income
1,303
1,476
665
-11.8%
Net margin
9.2%
10.9%
5.0%
Diluted EPS
$5.05
$5.65
$2.48
-10.6%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,524
1,522
888
+0.1%
Capital expenditure
221
183
250
+21.1%
Free cash flow
1,302
1,339
639
-2.8%
Free cash flow margin
9.2%
9.9%
4.8%
Cash from investing
-375
240
-1,193
Cash from financing
-1,432
-727
-528
Depreciation and amortisation
353
352
364
+0.3%
Share-based compensation
70.8
69.6
62.7
+1.7%
Buybacks
1,017
250
250
+306.6%
Dividends paid
430
349
303
+23.4%
Dividend per share
$1.70
$0.00
$1.16
Diluted shares, weighted
258m
262m
268m
-1.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
7,140
6,644
5,817
+7.5%
Non-controlling interest
66.6
74.5
62.5
-10.6%
Debt
4,057
4,060
4,218
-0.1%
Other liabilities
6,909
6,619
6,642
+4.4%
Total liabilities and equity
18,173
17,397
16,739
+4.5%
Fixed assets
1,551
1,511
1,575
+2.7%
Goodwill
5,936
5,658
5,730
+4.9%
Intangible assets
3,743
3,785
3,926
-1.1%
Cash and equivalents
1,524
1,715
737
-11.1%
Receivables
2,477
2,223
2,151
+11.4%
Inventory
1,555
1,386
1,411
+12.2%
Other assets
1,386
1,119
1,209
+23.8%
Total assets
18,173
17,397
16,739
+4.5%
10-K for the year ended 31 December 2017, filed 12 February 2019: the filing.