TT Trane Technologies margins

Relative Growth: Rel. Growth: 90

Relative Strength: Rel. Strength: 38

Relative Valuation: Rel. Valuation: 36

Relative Profitability: Rel. Profitability: 77

Gross margin

35%

Operating margin

17.7%

EBITDA margin

19.2%

Net margin

13.6%

Recent Trane Technologies shows a gross margin of 35%, an operating margin of 17.7%, an EBITDA margin of 19.2%, and a net margin of 13.6%. Gross margin led the decline across the available margins, contracting by 1.4 percentage points.

TT margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Trane Technologies's margins averaged 35.32% gross, 17.48% operating, 19.17% EBITDA, and 13.03% net. For Trane Technologies, operating, EBITDA, and net margins are above their three-year averages, while gross margin is below its three-year average.

TT margin expansion

Year-over-year margin changes in percentage points

The biggest contraction was in gross margin, which fell by 1.4 percentage points. The other available margins also declined.

Gross margin expansion

-1.4pp

Operating margin expansion

-1pp

EBITDA margin expansion

-1.1pp

Net margin expansion

-0.3pp

TT Gross margin

Over the last 3 years, the average gross margin for Trane Technologies was 35.32%. Against its three-year average, Trane Technologies's gross margin is currently 35%, 0.3 percentage points below its three-year average. Trane Technologies's gross margin ranged from a low of 33.1% in Dec 2023 to a high of 36.4% in Sep 2025.

TT Operating margin

Across the last 3 years, Trane Technologies's operating margin came to 17.48%. Trane Technologies currently reports an operating margin of 17.7%, 0.2 percentage points above its three-year average. Operating margin was highest at 18.7% in Sep 2025 and lowest at 15.8% in Dec 2023.

TT EBITDA margin

The average EBITDA margin for Trane Technologies was 19.17% in the last 3 years. Currently, the current EBITDA margin for Trane Technologies is 19.2%, 0 percentage points above its three-year average. The EBITDA margin for Trane Technologies moved between 17.6% in Dec 2023 and 20.3% in Sep 2025.

TT Net margin

Across the last 3 years, Trane Technologies recorded an average net margin of 13.03%. Trane Technologies's current net margin is 13.6% and is 0.6 percentage points above its three-year average. The highest net margin for Trane Technologies was 13.9% in Sep 2025, while the lowest was 11.4% in Dec 2023.

TT margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 35%, TT is above the Industrials sector and the industry average. Compared to its Industrials sector average of 32.5%, Trane Technologies's gross margin is 8% higher.

TT margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Trane Technologies's gross margin?

As of Sep 30, 2026, TT has a gross margin of 35%.

What is Trane Technologies's operating margin?

The current operating margin for TT is 17.7% as of Sep 30, 2026.

What is Trane Technologies's EBITDA margin?

For the period ending Sep 30, 2026, TT recorded an EBITDA margin of 19.2%.

What is Trane Technologies's net margin?

For the period ending Sep 30, 2026, TT recorded a net margin of 13.6%.

What are the average margins of TT?

Across the last 3 years, TT averaged 35.3% gross, 17.5% operating, 19.2% EBITDA, and 13.0% net.

What are the highest historical margins of TT?

Looking back across 5 years, TT reached 36.4% gross in Sep 2025, 18.7% operating in Sep 2025, 20.3% EBITDA in Sep 2025, and 13.9% net in Sep 2025.

What are the lowest historical margins of TT?

Looking back across 5 years, TT reached its lowest margins at 30.7% gross in Jun 2022, 14.2% operating in Mar 2022, 16.1% EBITDA in Mar 2022, and 10% net in Mar 2022.