Trane Technologies (TT) Operating Margin (2009 - 2026)
Trane Technologies (TT) posted quarterly Operating Margin of 19.27% for Q2 2026, down 99.0% year-over-year from 1926.97% in Q2 2025, and up 23.38% quarter-over-quarter from 15.62% in Q1 2026.
Trane Technologies (TT) Operating Margin (2009 - 2026) Analysis & Trends
Trane Technologies' Operating Margin history runs 18 years deep, the most recent figure standing at 19.27% for Q2 2026.
- In Q2 2026, Operating Margin fell 99.0% year-over-year to 19.27%; the TTM figure through Jun 2026 stood at 17.94% (down 45.0% YoY), while the FY2025 annual figure was 18.61%, up 96.0% from the prior year.
- Operating Margin for Q2 2026 stood at 19.27%, up from 15.62% in the prior quarter.
- The five-year high for Operating Margin was 20.29% in Q3 2025, with the low at 11.57% in Q1 2022.
- The 5-year median for Operating Margin is 16.94% (2022), against an average of 16.83%.
- The sharpest annual moves came in 2024 and 2026: Operating Margin jumped 257 bps in 2024, then tumbled 185 bps in 2026.
- Trane Technologies' Operating Margin stood at 14.25% in 2022, then climbed by 9 bps to 15.54% in 2023, then grew by 7 bps to 16.57% in 2024, then declined by 4 bps to 15.92% in 2025, then advanced by 21 bps to 19.27% in 2026.
- Business Quant data shows TT's Operating Margin at 19.27% in Q2 2026, 15.62% in Q1 2026, and 15.92% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 99.71 Bn | 98.39 Bn | 2.26 Bn | 19.27% |
| 2 | Johnson Controls International | 87.29 Bn | 86.65 Bn | 2.47 Bn | 14.92% |
| 3 | Carrier Global | 49.78 Bn | 48.43 Bn | 1.94 Bn | 12.99% |
| 4 | Masco | 14.62 Bn | 14.07 Bn | 868.00 Mn | 23.59% |
| 5 | Carlisle Companies | 14.41 Bn | 13.74 Bn | 568.40 Mn | 22.45% |
| 6 | Lennox International | 14.06 Bn | 14.01 Bn | 539.50 Mn | 22.97% |
| 7 | Owens Corning | 11.84 Bn | 11.57 Bn | 793.00 Mn | 17.49% |
| 8 | Advanced Drainage Systems | 10.91 Bn | 10.75 Bn | 408.05 Mn | 25.43% |
| 9 | SPX Technologies | 10.27 Bn | 10.10 Bn | 272.80 Mn | 16.94% |
| 10 | Armstrong World Industries | 7.58 Bn | 7.50 Bn | 195.00 Mn | 28.35% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 19.27% |
| Mar 31, 2026 | 15.62% |
| Dec 31, 2025 | 15.92% |
| Sep 30, 2025 | 20.29% |
| Jun 30, 2025 | 20.26% |
| Mar 31, 2025 | 17.47% |
| Dec 31, 2024 | 16.57% |
| Sep 30, 2024 | 18.83% |
| Jun 30, 2024 | 19.49% |
| Mar 31, 2024 | 15.03% |
| Dec 31, 2023 | 15.54% |
| Sep 30, 2023 | 17.70% |
| Jun 30, 2023 | 18.82% |
| Mar 31, 2023 | 12.46% |
| Dec 31, 2022 | 14.25% |
| Sep 30, 2022 | 16.91% |
| Jun 30, 2022 | 16.96% |
| Mar 31, 2022 | 11.57% |
| Dec 31, 2021 | 12.21% |
| Sep 30, 2021 | 15.68% |