Trane Technologies plc (TT) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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TT Revenue Growth
Revenue Breakdown (FY 2025)
TT's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
TT Revenue Analysis (2014–2025)
As of May 8, 2026, Trane Technologies plc (TT) generated trailing twelve-month (TTM) revenue of $21.60 billion, reflecting solid growth of +6.0% year-over-year. The most recent quarter (Q1 2026) recorded $4.97 billion in revenue, down 3.4% sequentially.
Looking at the longer-term picture, TT's 5-year compound annual growth rate (CAGR) stands at +11.4%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $21.32 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows TT's business is primarily driven by Product (66%), and Service (34%). With over half of revenue concentrated in Product, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including CARR (-1.9% YoY), JCI (+5.1% YoY), and LII (-2.0% YoY), TT has underperformed the peer group in terms of revenue growth. Compare TT vs CARR →
TT Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| TTCurrent | $21.6B | +6.0% | +11.4% | 18.6% | |
 CARR | $21.7B | -1.9% | +4.5% | 9.9% | |
 JCI | $23.6B | +5.1% | +1.1% | 12.0% | |
 LII | $5.2B | -2.0% | +7.4% | 19.5% | |
 AAON | $1.4B | +28.3% | +22.9% | 10.1% | |
 WMS | $2.9B | +1.6% | +11.7% | 22.6% |
TT Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $21.32B | +7.5% | $7.71B | 36.2% | $3.97B | 18.6% |
| 2024 | $19.84B | +12.2% | $7.08B | 35.7% | $3.50B | 17.6% |
| 2023 | $17.68B | +10.5% | $5.86B | 33.1% | $2.89B | 16.4% |
| 2022 | $15.99B | +13.1% | $4.96B | 31.0% | $2.42B | 15.1% |
| 2021 | $14.14B | +13.5% | $4.47B | 31.6% | $2.02B | 14.3% |
| 2020 | $12.45B | -4.8% | $3.80B | 30.5% | $1.53B | 12.3% |
| 2019 | $13.08B | +5.9% | $4.03B | 30.8% | $1.67B | 12.8% |
| 2018 | $12.34B | -13.1% | $3.76B | 30.5% | $1.51B | 12.2% |
| 2017 | $14.20B | +5.1% | $4.39B | 30.9% | $1.67B | 11.7% |
| 2016 | $13.51B | +1.6% | $4.20B | 31.1% | $1.60B | 11.9% |
Full TT Stock Analysis
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Start ComparisonTT — Frequently Asked Questions
Quick answers to the most common questions about buying TT stock.
Is TT's revenue growth accelerating or slowing?
TT maintains +6.0% revenue growth, in line with its 5-year CAGR of +11.4%. TTM revenue stands at $21.6B. Growth rate remains consistent with historical average.
What is TT's long-term revenue growth rate?
Trane Technologies plc's 5-year revenue CAGR of +11.4% reflects the sustained expansion pattern. Current YoY growth of +6.0% is near this long-term average.
How is TT's revenue distributed by segment?
TT reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.