Trane Technologies (TT) Net Margin (2009 - 2026)
Trane Technologies (TT) recorded Net Margin of 15.51% in Q3 2026, up 0.75 percentage points from 14.76% a year earlier and up 0.94 percentage points from the prior quarter.
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Analysis
Trane Technologies (TT) Net Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Trane Technologies' Net Margin came in at 13.56% as of Sep 30, 2026, down 0.36 percentage points year-over-year; for FY2025, it came in at 13.69%, up 0.74 percentage points from FY2024.
- Annual Net Margin has increased for five straight years, with a five-year change of +6.82 percentage points (FY2020 to FY2025).
- Across earlier years, Net Margin came in at 12.94% in FY2024 (+1.50 pp), 11.45% in FY2023 (+0.47 pp), 10.98% in FY2022 (+0.91 pp) and 10.07% in FY2021 (+3.20 pp).
- The Q3 2026 figure is the highest quarterly Net Margin since Q4 2018.
- On a year-over-year basis, Net Margin rose in five of the last eight quarters, with an average year-over-year change of +0.40 percentage points.
- Peak year-over-year performance for Net Margin in the last five years was a gain of 2.55 percentage points in Q1 2025, against a drop of 1.14 percentage points in Q1 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 14.57% (Q2 2026), 11.76% (Q1 2026) and 11.49% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 92.47 Bn | 87.09 Bn | 2.38 Bn | 15.51% |
| 2 | Johnson Controls International | 85.88 Bn | 83.61 Bn | 2.47 Bn | 11.32% |
| 3 | Carrier Global | 43.83 Bn | 38.20 Bn | 1.90 Bn | -41.40% |
| 4 | Comfort Systems Usa | 39.03 Bn | 32.98 Bn | 934.48 Mn | 12.98% |
| 5 | Otis Worldwide | 30.08 Bn | 26.47 Bn | 1.16 Bn | 10.58% |
| 6 | James Hardie Industries | 17.47 Bn | 16.40 Bn | 562.40 Mn | 10.57% |
| 7 | Masco | 16.84 Bn | 14.64 Bn | 720.00 Mn | 11.70% |
| 8 | Allegion | 16.15 Bn | 14.78 Bn | 548.20 Mn | 18.84% |
| 9 | Carlisle Companies | 15.63 Bn | 12.54 Bn | 494.90 Mn | 14.22% |
| 10 | Lennox International | 12.03 Bn | 11.85 Bn | 497.20 Mn | 14.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 15.51% |
| Jun 30, 2026 | 14.57% |
| Mar 31, 2026 | 11.76% |
| Dec 31, 2025 | 11.49% |
| Sep 30, 2025 | 14.76% |
| Jun 30, 2025 | 15.22% |
| Mar 31, 2025 | 12.90% |
| Dec 31, 2024 | 12.40% |
| Sep 30, 2024 | 14.19% |
| Jun 30, 2024 | 14.23% |
| Mar 31, 2024 | 10.35% |
| Dec 31, 2023 | 11.40% |
| Sep 30, 2023 | 12.83% |
| Jun 30, 2023 | 12.46% |
| Mar 31, 2023 | 8.38% |
| Dec 31, 2022 | 10.78% |
| Sep 30, 2022 | 12.53% |
| Jun 30, 2022 | 12.15% |
| Mar 31, 2022 | 7.75% |
| Dec 31, 2021 | 8.90% |
API Access
Trane Technologies Net 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=net-margin&ticker=TT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=TT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();