Trane Technologies income statement

In fiscal 2025, Trane Technologies reported revenue of $21.32bn, up 7.5% on the year before, operating income of $3.97bn (a 18.6% margin) and net income of $2.92bn, or $12.98 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Trane Technologies: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Revenue	13.0	14.0	12.8	12.0	12.4	12.9	13.3	13.5	14.2	12.3	13.1	12.5	14.1	16.0	17.7	19.8	21.3	23.2
Cost of revenue	9.4	10.1	9.3	8.5	8.7	9.0	9.3	9.3	9.8	8.6	9.1	8.7	—	—	—	—	—	—
Gross profit	3.6	3.9	3.5	3.5	3.6	3.9	4.0	4.2	4.4	3.8	4.0	3.8	—	—	—	—	—	—
Research and development	0.3	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.3	0.3	0.3	—
Selling, general and administrative	2.7	2.7	2.4	2.4	2.5	2.5	2.5	2.6	2.7	2.2	2.3	2.3	2.4	2.5	3.0	3.6	3.7	4.0
Operating income	0.9	1.3	0.4	1.1	1.1	1.4	1.5	1.6	1.7	1.5	1.7	1.5	2.0	2.4	2.9	3.5	4.0	4.2
Interest expense	0.3	0.3	0.3	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2
Income before tax	0.6	1.0	0.2	0.8	0.8	1.2	1.2	1.7	1.4	1.3	1.4	1.3	1.8	2.2	2.6	3.2	3.7	—
Income tax	0.1	0.2	0.0	0.1	0.2	0.3	0.5	0.3	0.1	0.2	0.2	0.3	0.3	0.4	0.5	0.6	0.7	0.7
Net income	0.5	0.6	0.3	1.0	0.6	0.9	0.7	1.5	1.3	1.3	1.4	0.9	1.4	1.8	2.0	2.6	2.9	3.2
Diluted EPS	$1.37	$1.89	$1.01	$3.28	$2.07	$3.40	$2.48	$5.65	$5.05	$5.35	$5.77	$3.52	$5.87	$7.48	$8.77	$11.24	$12.98	$14.15
Diluted shares (average)	329m	340m	339m	311m	298m	274m	268m	262m	258m	250m	244m	243m	242m	235m	231m	228m	225m	223m
EBITDA	1.3	1.7	0.8	1.4	1.4	1.7	1.9	2.0	2.0	1.9	2.1	1.8	2.3	2.7	3.2	3.9	4.3	4.6

US$ millions unless shown otherwise. Fiscal quarters.

Trane Technologies: income statement, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Revenue	4,874	4,689	5,746	5,743	5,145	4,969	6,354	6,760
Cost of revenue	—	3,011	3,586	3,624	—	3,241	4,094	4,375
Gross profit	—	1,678	2,161	2,118	—	1,728	2,260	2,385
Selling, general and administrative	903	859	996	953	935	952	1,035	1,042
Operating income	808	819	1,164	1,165	819	776	1,224	1,343
Interest expense	60	58	57	56	56	56	53	52
Income before tax	751	753	1,093	1,092	741	—	—	1,285
Income tax	135	135	217	232	123	136	218	220
Net income	604	605	875	848	591	584	926	1,049
Diluted EPS	$2.65	$2.67	$3.89	$3.78	$2.65	$2.62	$4.16	$4.74
EBITDA	904	918	1,262	1,254	910	877	1,334	1,448

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Trane Technologies's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Trane Technologies.