Trane Technologies (TT) Stock Analysis & Overview

Trane Technologies plc (NYSE: TT) is an Ireland-incorporated heating, ventilation, air conditioning and refrigeration company that sells mainly under the Trane® and Thermo King® brands, serving commercial buildings, homes, transport refrigeration and data centers. This page profiles the listed company and its stock: it brings together TradingView market widgets, financial reference data taken from Trane Technologies’ SEC filings, and a dated, clearly labelled third-party Shariah-screening snapshot for research purposes. Trane Technologies’ fiscal year ends December 31. Widgets update dynamically; the tables and screening notes are static and carry their own reporting periods and dates. For other NYSE-listed company profiles see SaGeminieTech’s NYSE hub.

Trane Technologies plc (TT) Symbol Information

TT trades on the New York Stock Exchange under the ticker symbol TT, as stated on the cover of Trane Technologies’ annual report and confirmed against the SEC’s ticker-and-exchange listing. The panel below summarizes the current symbol — price, exchange and identifying details — as a quick reference before reviewing deeper fundamentals and charts.

TT Advanced Stock Chart

The interactive chart below displays TT price and volume history across time intervals from intraday to multi-year views. Developments that Trane Technologies’ own filings highlight include net revenues rising each year from $17,677.6 million in 2023 to $21,321.9 million in 2025, a year-end 2025 order backlog of $7,769.4 million, a 2025 slowdown in residential markets that the company attributes to a regulatory refrigerant transition and softer consumer demand, and the February 2026 acquisition of data center cooling specialist Stellar Energy. Commercial construction and data center activity can also influence price. Price history is one input among several and should be read alongside fundamentals.

Trane Technologies plc Financial Statements and Fundamentals

Key figures worth examining for Trane Technologies include revenue growth by segment, the mix between equipment and services revenue, and operating margin. Net revenues were $21,321.9 million in 2025, up from $19,838.2 million in 2024 and $17,677.6 million in 2023; net earnings attributable to Trane Technologies plc were $2,918.6 million in 2025, up from $2,567.9 million in 2024 and $2,023.9 million in 2023 (10-K).

In the first six months of 2026, net revenues were $11,322.9 million, compared with $10,434.9 million in the same period of 2025 (about 8.5% higher, calculated), and net earnings attributable to Trane Technologies plc were $1,510.1 million, compared with $1,479.7 million (Form 10-Q for the quarter ended June 30, 2026).

Trane Technologies plc reported financial figures — US GAAP, $ millions, fiscal years ended December 31
Metric	FY2023	FY2024	FY2025
Net revenues (reported)	17,677.6	19,838.2	21,321.9
Operating income (reported)	2,894.0	3,500.1	3,967.4
Research and development expense (reported)	252.3	309.6	347.6
Net earnings attributable to Trane Technologies plc (reported)	2,023.9	2,567.9	2,918.6
Diluted earnings per share (reported)	$8.77	$11.24	$12.98
Net cash provided by operating activities (reported)	2,389.6	3,145.6	3,194.5
Operating margin (calculated: operating income ÷ net revenues)	16.4%	17.6%	18.6%

Source: Trane Technologies plc Annual Report on Form 10-K for the year ended December 31, 2025 (SEC filing, filed 2026-02-05), with 2024 and 2023 comparatives as presented in that filing and its SEC XBRL data. Rows marked “calculated” are derived by SaGeminieTech from the reported inputs shown.

Trane Technologies plc selected balance-sheet measures — $ millions
Measure	December 31, 2025	June 30, 2026
Cash and cash equivalents (June 2026: including restricted cash)	1,763.3	1,318.3
Short-term borrowings and current maturities of long-term debt	693.0	693.1
Long-term debt (noncurrent)	3,922.1	3,923.7
Total assets	21,420.7	23,925.6
Total equity attributable to Trane Technologies plc	8,579.2	8,622.9

Sources: 2025 Form 10-K balance sheet and the Form 10-Q for the quarter ended June 30, 2026 (SEC filing, filed 2026-07-30), via SEC XBRL data. In April 2026 the company entered into a new $1.5 billion senior unsecured revolving credit agreement running through April 2031, replacing a $1 billion facility (Form 8-K filed 2026-04-24).

Trane Technologies plc Company Profile and Business Model

Trane Technologies plc is a public limited company incorporated in Ireland in 2009, with registered offices in Swords, Co. Dublin, that files annual reports on Form 10-K with the SEC. It describes itself as a global climate innovator and generates revenue primarily through the design, manufacture, sale and service of heating, ventilation and air conditioning (HVAC) systems, transport refrigeration and custom refrigeration solutions, sold mainly under its Trane® and Thermo King® brands. The company states that its growth strategy includes expanding recurring revenue through services and rental options.

Trane Technologies reports three segments organized by geography. Americas (North America and Latin America) covers commercial heating, cooling and ventilation systems, building controls, energy services, residential heating and cooling, and transport refrigeration. EMEA and Asia Pacific cover commercial HVAC systems and services and transport refrigeration in their regions. The product list in the 10-K includes data center HVAC systems, data center liquid cooling solutions, data center facility controls and data center services. On February 17, 2026, the company acquired Stellar Energy Americas, Inc., which it describes as a provider of turnkey data center cooling solutions, for gross consideration of $553.4 million (excluding $185.4 million of cash acquired); results are reported in the Americas segment (Form 10-Q, Note 15).

The 10-K lists David S. Regnery as Chair of the Board and Chief Executive Officer and Christopher J. Kuehn as Executive Vice President and Chief Financial Officer. In June 2026 the board appointed Donald E. Simmons, previously Group President, Americas, as Executive Vice President and Chief Operating Officer, effective July 1, 2026 (Form 8-K filed 2026-06-10). As of December 31, 2025, the company employed approximately 44,000 people in 62 countries, and approximately 25% of 2025 net revenues came from outside the United States. Trane Technologies is the first heating, cooling and refrigeration company profiled on this site; see SaGeminieTech’s Eaton profile, which covers electrical power management including data center power, for a related but distinct part of building and data center infrastructure.

Trane Technologies plc net revenues by reportable segment — US GAAP, $ millions
Segment	FY2025	FY2024	FY2023	Share of FY2025 (calculated)
Americas	17,168.8	15,903.2	13,832.0	80.5%
EMEA	2,802.1	2,556.7	2,401.2	13.1%
Asia Pacific	1,351.0	1,378.3	1,444.4	6.3%

Source: 2025 Form 10-K, disaggregated revenue and segment notes (filing). Order backlog at December 31, 2025 was $7,769.4 million ($6,298.6 million Americas, $775.9 million EMEA, $694.9 million Asia Pacific), compared with $6,747.7 million a year earlier; the company states it expects to ship a majority of that backlog during 2026.

Trane Technologies plc net revenues by type — equipment vs. services, $ millions
Type	FY2025	FY2024	FY2023	Share of FY2025 (calculated)
Equipment	13,982.3	13,314.5	11,975.4	65.6%
Services	7,339.6	6,523.7	5,702.2	34.4%

Calculated by SaGeminieTech by adding the equipment and services revenue reported for each of the three segments in the 10-K’s disaggregated-revenue note; the totals reconcile to reported net revenues for each year. Services revenue grew from $5,702.2 million in 2023 to $7,339.6 million in 2025.

Trane Technologies plc Historical Stock-Price Overview

The overview below covers TT price and percentage change across several date ranges, with volume and moving-average context. Trane Technologies’ reported net revenues rose from $17,677.6 million in 2023 to $21,321.9 million in 2025, and diluted earnings per share rose from $8.77 to $12.98 over the same period (table above). Price history is best interpreted alongside those revenue, margin and backlog trends rather than in isolation.

Trane Technologies plc Shariah Compliance Snapshot

The snapshot below reflects third-party Shariah screening for TT based on AAOIFI-derived methodology, as reported by two providers, Zoya and Musaffa, plus figures independently calculated by SaGeminieTech from Trane Technologies’ SEC filings and a market-capitalization snapshot. Both provider pages were read on 2026-10-03. Screening results change as market capitalization, debt, cash and non-permissible income change — treat this as a starting reference for further verification, not a certification, and not investment or religious guidance.

Current StatusZoya screens TT as Shariah-compliant (zoya.finance/stocks/tt; AAOIFI standard; last updated October 2026) and Musaffa classifies it as HALAL with an A+ rating, passing both business and financial screening criteria (musaffa.com/stock/TT; AAOIFI-based methodology; last updated August 5, 2026, based on the 2026 second-quarter report). The two sources agree as of 2026-10-03.

Debt / Market CapIndependently calculated: 4.52%. Short-term borrowings and current maturities ($693.1 million) plus noncurrent long-term debt ($3,923.7 million) at June 30, 2026 total $4,616.8 million, divided by a market capitalization of $102,070 million at the 2026-10-02 close (stockanalysis.com). Under the commonly cited 30–33% threshold.

Cash / Market CapIndependently calculated: 1.29%. Cash, cash equivalents and restricted cash of $1,318.3 million at June 30, 2026, divided by the same $102,070 million market capitalization. Well under the commonly cited 30–33% threshold.

Non-Permissible IncomeZoya’s public page states $4.5 million of interest income for fiscal 2025. SEC XBRL data for the 2025 10-K reports interest income of $9.0 million, so the page uses the filed figure. On that basis interest income is about 0.04% of revenue plus interest income — far below the 5% threshold under either figure.

Business ActivityHeating, ventilation and air conditioning systems, transport and custom refrigeration, building controls, energy services and related rental and repair services. No lending, conventional banking, insurance, gambling or alcohol-related segment was found in the 10-K’s description of the business or its segment reporting; the non-permissible revenue split beyond interest income is not publicly disclosed, so this item relies on the providers’ business screens.

Screening BasisAAOIFI Standard (per Zoya’s and Musaffa’s stated methodologies), cross-checked here against Trane Technologies’ 2025 Form 10-K, its Form 10-Q for the quarter ended June 30, 2026, SEC XBRL data and a market-capitalization snapshot.

Last ReviewedZoya last updated October 2026; Musaffa last updated August 5, 2026; both provider pages were read on 2026-10-03. Debt and cash figures are as of June 30, 2026; market capitalization is as of the 2026-10-02 close.

Trane Technologies plc AAOIFI-style screening ratios — independently calculated
Ratio	Numerator	Denominator	Result	Commonly cited threshold
Interest-bearing debt ÷ market capitalization	Total debt: $4,616.8 million (10-Q, June 30, 2026)	Market capitalization: $102,070 million (stockanalysis.com, close 2026-10-02)	4.52%	< 30–33%
Cash ÷ market capitalization	Cash, cash equivalents and restricted cash: $1,318.3 million (10-Q, June 30, 2026)	Market capitalization: $102,070 million (close 2026-10-02)	1.29%	< 30–33%
Non-permissible (interest) income ÷ (revenue + interest income)	Interest income: $9.0 million (SEC XBRL, fiscal 2025)	Revenue + interest income: $21,321.9m + $9.0m = $21,330.9m	0.04%	< 5%

Zoya’s stated interest-income figure ($4.5 million) does not match the $9.0 million reported in SEC XBRL data for fiscal 2025; the filed figure is used here, and the ratio stays far below the 5% threshold either way. In the first half of 2026, interest income was $7.6 million on net revenues of $11,322.9 million (about 0.07%). Market capitalization is a point-in-time figure (2026-10-02 close) applied to June 30, 2026 balance-sheet figures; it moves daily and these ratios should be recalculated before relying on them.

This snapshot is a screening summary for research purposes, not a certification of Shariah compliance and not investment or religious guidance. All three AAOIFI-style ratios were independently calculated for this page and fall well under commonly cited thresholds. Confirm the latest status directly with Zoya, with Musaffa, or with a qualified Shariah adviser before relying on any compliance conclusion.

Key Investor Considerations for Trane Technologies plc

Potential Strengths

Net revenues grew each year from $17,677.6 million in 2023 to $21,321.9 million in 2025, with operating margin rising from 16.4% to 18.6% (calculated)
Services revenue reached $7,339.6 million in 2025, about one-third of the total, supported by a large installed base
Year-end 2025 backlog of $7,769.4 million, up from $6,747.7 million a year earlier
Data center cooling offering broadened by the February 2026 Stellar Energy acquisition
All three independently calculated AAOIFI-style ratios are well under commonly cited thresholds

Material Risks

The company states that residential markets weakened considerably during 2025 due to a regulatory refrigerant transition and softer consumer demand
Revenue is concentrated in the Americas segment (about 80% of 2025 net revenues), while Asia Pacific revenue declined from $1,444.4 million in 2023 to $1,351.0 million in 2025
Exposure to commercial construction and data center capital-spending cycles, as well as tariffs and global trade policy, which the 10-K identifies as uncertainties
Legacy asbestos-related claims: two subsidiaries, Aldrich and Murray, are in Chapter 11 proceedings intended to resolve current and future asbestos claims
Highly competitive markets with competitors that vary by product line, according to the 10-K

Frequently Asked Questions

What does Trane Technologies do?

Trane Technologies designs, manufactures, sells and services heating, ventilation and air conditioning systems, transport refrigeration and custom refrigeration solutions, mainly under the Trane® and Thermo King® brands, according to its 2025 Form 10-K.

On which exchange is Trane Technologies listed?

Trane Technologies plc’s ordinary shares trade on the New York Stock Exchange under the ticker symbol TT, as confirmed against the SEC’s ticker-and-exchange listing.

Where is Trane Technologies incorporated?

Trane Technologies plc is a public limited company incorporated in Ireland in 2009, with registered offices in Swords, Co. Dublin. It files annual reports with the SEC on Form 10-K.

How much revenue does Trane Technologies make from services?

Services revenue was $7,339.6 million in 2025, about 34% of net revenues of $21,321.9 million, based on SaGeminieTech’s sum of the segment figures in the 10-K’s disaggregated-revenue note.

Is Trane Technologies involved in data center cooling?

Yes. The 10-K lists data center HVAC systems, liquid cooling solutions, facility controls and services among its products, and the company acquired Stellar Energy, which it describes as a provider of turnkey data center cooling solutions, in February 2026.

How is Trane Technologies different from Eaton on this site?

Both serve buildings and data centers, but this page covers Trane Technologies’ heating, cooling and refrigeration business, while the Eaton profile covers electrical power management.

Is Trane Technologies stock currently Shariah compliant?

Zoya screens TT as Shariah-compliant and Musaffa classifies it as HALAL, both under AAOIFI-based methodologies (read 2026-10-03). SaGeminieTech independently calculated debt/market cap of 4.52%, cash/market cap of 1.29% and non-permissible income of about 0.04%, all well under commonly cited thresholds; the page uses the $9.0 million interest income reported in SEC data rather than Zoya’s stated $4.5 million. This is a screening summary, not a compliance certification — check a current, named screening source or a qualified Shariah adviser before relying on any status.

Conclusion

Trane Technologies is a heating, cooling and refrigeration company whose company-reported net revenues grew from $17,677.6 million in 2023 to $21,321.9 million in 2025, with about 80% coming from the Americas segment and roughly one-third from services. Its filings point to a year-end 2025 backlog of $7,769.4 million, weaker residential demand during the 2025 refrigerant transition, and an expanding data center cooling offering following the Stellar Energy acquisition. SaGeminieTech independently checked Trane Technologies’ Shariah-screening ratios against its SEC filings and a market-capitalization snapshot and found all three AAOIFI-style ratios well under typical thresholds, while correcting one provider’s interest-income figure to the filed amount. The tools on this page — charts, financials, technical indicators and news — support ongoing research into Trane Technologies, but they do not replace a review of its official filings or independent financial, legal, tax or Shariah advice.

This page is informational and is not investment advice, a recommendation to buy, sell or hold any security, or a prediction of future returns. See SaGeminieTech’s Disclaimer.

Trane Technologies plc (TT) – Company Overview, Business Model & Stock Analysis