Trane Technologies (TT) Gross Margin (2009 - 2026)
Trane Technologies (TT) posted Gross Margin of 35.57% for Q2 2026, up 2.28% on a QoQ basis from 34.77% in Q1 2026, and down 203.0% year-over-year from 34.53% in Q2 2025.
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Trane Technologies (TT) Gross Margin (2009 - 2026) Analysis & Trends
Trane Technologies has reported Gross Margin for 18 years, with the latest figure at 35.57% in Q2 2026.
- On a quarterly basis, Gross Margin fell 203.0% year-over-year to 35.57% in Q2 2026; TTM through Jun 2026 was 54.23%, a 48.0% decrease from a year earlier, with the FY2025 full-year figure at 55.79%, up 79.0% from the prior year.
- Gross Margin was 35.57% for Q2 2026 at Trane Technologies, up from 34.77% in the prior quarter.
- The five-year high for Gross Margin was 115.45% in Q4 2025, with the low at 29.47% in Q1 2022.
- Average Gross Margin over 5 years is 50.37%, with a median of 35.67% recorded in 2025.
- The sharpest annual moves came in 2022 and 2023: Gross Margin slumped 2158 bps in 2022, then soared 2354 bps in 2023.
- Over 5 years, Gross Margin stood at 86.71% in 2022, then increased by 27 bps to 110.25% in 2023, then advanced by 3 bps to 113.68% in 2024, then increased by 2 bps to 115.45% in 2025, then sank by 69 bps to 35.57% in 2026.
- The last three Gross Margin figures came in at 35.57% (Q2 2026), 34.77% (Q1 2026), and 115.45% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 96.94 Bn | 95.62 Bn | 2.26 Bn | 35.57% |
| 2 | Johnson Controls International | 86.86 Bn | 86.22 Bn | 2.47 Bn | 37.41% |
| 3 | Comfort Systems Usa | 55.80 Bn | 53.94 Bn | 844.23 Mn | 25.85% |
| 4 | Carrier Global | 46.70 Bn | 45.36 Bn | 1.94 Bn | 30.59% |
| 5 | Lennox International | 12.89 Bn | 12.84 Bn | 539.50 Mn | 34.91% |
| 6 | Modine Manufacturing | 9.48 Bn | 9.40 Bn | - | - |
| 7 | SPX Technologies | 9.33 Bn | 9.17 Bn | 272.80 Mn | 40.18% |
| 8 | Smith A O | 7.77 Bn | 7.59 Bn | 387.80 Mn | 38.61% |
| 9 | Aaon | 6.30 Bn | 6.30 Bn | 152.49 Mn | 24.32% |
| 10 | Csw Industrials | 4.80 Bn | 4.77 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 35.57% |
| Mar 31, 2026 | 34.77% |
| Dec 31, 2025 | 115.45% |
| Sep 30, 2025 | 36.89% |
| Jun 30, 2025 | 37.60% |
| Mar 31, 2025 | 35.78% |
| Dec 31, 2024 | 113.68% |
| Sep 30, 2024 | 36.29% |
| Jun 30, 2024 | 36.47% |
| Mar 31, 2024 | 34.63% |
| Dec 31, 2023 | 110.25% |
| 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 | 108.29% |
| Sep 30, 2021 | 32.37% |