Trane Technologies (TT) FY2024 results: revenue $19.8 billion, up 12.2% on the year
Trane Technologies plc (TT) reported revenue of $19.8 billion for fiscal 2024, the year ended 31 December 2024, up 12.2% on the year before. Net income was $2.6 billion, up 26.9%, and diluted earnings per share $11.24. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2025.
Revenue
$19.8 billion
+12.2% on the year
FY2017FY2024
Operating margin
17.6%
16.4% a year earlier
FY2017FY2024
Net income
$2.6 billion
+26.9% on the year
FY2017FY2024
Diluted EPS
$11.24
+28.2% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ 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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
3,146
2,390
1,504
+31.6%
Capital expenditure
371
301
292
+23.2%
Free cash flow
2,775
2,089
1,212
+32.8%
Free cash flow margin
14.0%
11.8%
7.6%
Cash from investing
-563
-1,172
-540
Cash from financing
-2,021
-1,350
-1,852
Depreciation and amortisation
379
348
324
+9.0%
Share-based compensation
82.9
64.3
56.3
+28.9%
Buybacks
1,281
669
1,200
+91.4%
Dividends paid
758
684
620
+10.8%
Dividend per share
$3.36
$3.00
$2.68
+12.0%
Diluted shares, weighted
228m
231m
235m
-1.0%
Shares outstanding at period end
249m
252m
253m
-1.1%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
7,457
6,995
6,089
+6.6%
Non-controlling interest
29.5
21.8
16.6
+35.3%
Debt
4,770
4,780
4,836
-0.2%
Other liabilities
7,890
7,595
7,140
+3.9%
Total liabilities and equity
20,147
19,392
18,082
+3.9%
Fixed assets
2,024
1,772
1,536
+14.2%
Goodwill
6,128
6,095
5,504
+0.5%
Intangible assets
3,308
3,440
3,264
-3.8%
Cash and equivalents
1,590
1,095
1,220
+45.2%
Receivables
3,090
2,957
2,780
+4.5%
Inventory
1,972
2,152
1,994
-8.4%
Other assets
2,034
1,880
1,783
+8.2%
Total assets
20,147
19,392
18,082
+3.9%
10-K for the year ended 31 December 2024, filed 6 February 2025: the filing.