Trane Technologies (TT) Gross Margin (2009 - 2026)
Trane Technologies (TT) reported Gross Margin of 35.28% for Q3 2026, down 1.61 percentage points from 36.89% a year earlier and down 0.29 percentage points from the prior quarter.
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Analysis
Trane Technologies (TT) Gross Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Trane Technologies' Gross Margin came in at 34.99%, down 1.43 percentage points year-over-year; for FY2025, it came in at 36.16%, up 0.47 percentage points from FY2024.
- Gross Margin has a five-year change of +5.62 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 35.69% in FY2024 (+50.16 pp), -14.46% in FY2023 (-59.97 pp), 45.51% in FY2022 (+13.89 pp) and 31.62% in FY2021 (+1.08 pp).
- Five-year quarterly Gross Margin spans a low of -156.93% in Q4 2023 and a high of 86.71% in Q4 2022.
- Year over year, Gross Margin has now declined in each of the last four quarters, with an average year-over-year change of +23.66 percentage points over the last eight quarters.
- The high point for year-over-year Gross Margin in five years was Q4 2024 (a gain of 192.03 percentage points); the low point was Q4 2023 (a drop of 243.64 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 35.57% (Q2 2026), 34.77% (Q1 2026) and 34.09% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 93.66 Bn | 88.28 Bn | 2.38 Bn | 35.28% |
| 2 | Johnson Controls International | 87.35 Bn | 85.08 Bn | 2.47 Bn | 37.41% |
| 3 | Carrier Global | 43.73 Bn | 38.10 Bn | 1.90 Bn | 30.35% |
| 4 | Comfort Systems Usa | 39.84 Bn | 33.80 Bn | 934.48 Mn | 24.81% |
| 5 | Otis Worldwide | 29.53 Bn | 25.92 Bn | 1.16 Bn | 29.56% |
| 6 | James Hardie Industries | 17.19 Bn | 15.75 Bn | 562.40 Mn | 39.38% |
| 7 | Masco | 16.43 Bn | 14.23 Bn | 720.00 Mn | 36.62% |
| 8 | Allegion | 15.94 Bn | 14.56 Bn | 548.20 Mn | 46.75% |
| 9 | Carlisle Companies | 15.38 Bn | 12.28 Bn | 494.90 Mn | 33.82% |
| 10 | Lennox International | 11.88 Bn | 11.69 Bn | 497.20 Mn | 31.62% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 35.28% |
| Jun 30, 2026 | 35.57% |
| Mar 31, 2026 | 34.77% |
| Dec 31, 2025 | 34.09% |
| Sep 30, 2025 | 36.89% |
| Jun 30, 2025 | 37.60% |
| Mar 31, 2025 | 35.78% |
| Dec 31, 2024 | 35.10% |
| Sep 30, 2024 | 36.29% |
| Jun 30, 2024 | 36.47% |
| Mar 31, 2024 | 34.63% |
| Dec 31, 2023 | -156.93% |
| Sep 30, 2023 | 33.96% |
| Jun 30, 2023 | 33.68% |
| Mar 31, 2023 | 31.19% |
| Dec 31, 2022 | 86.71% |
| Sep 30, 2022 | 32.77% |
| Jun 30, 2022 | 31.58% |
| Mar 31, 2022 | 29.47% |
| Dec 31, 2021 | 29.18% |
API Access
Trane Technologies Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=TT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "TT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=TT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();