Trane Technologies plc stock research
FY2026 Q1
Trane Technologies (TT) Gross Margin & Quarterly History
Explore Trane Technologies plc (TT) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue decreased from the prior quarter but increased compared to the same quarter last year. Gross profit remained stable year over year, while cost of revenue rose, resulting in a gross margin that weakened relative to the year-ago period.
- The gross margin declined compared to the same quarter last year, driven by a proportionally larger increase in cost of revenue relative to revenue growth.
- Compared to the immediately preceding quarter, revenue was lower, but gross profit and cost of revenue data for that quarter are missing, preventing a full margin comparison. Versus the same quarter one year earlier, revenue was higher, gross profit was stable, cost of revenue was higher, and gross margin was lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
34.8%
Gross profit
$1.7B
Revenue
$5.0B
Cost of revenue
$3.2B
Quarter-over-quarter change
-2.1 pts
Year-over-year change
-1.0 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2025 | $4.7B | $1.7B | $3.0B | 35.8% |
| Jun 30, 2025 | $5.7B | $2.2B | $3.6B | 37.6% |
| Sep 30, 2025 | $5.7B | $2.1B | $3.6B | 36.9% |
| Mar 31, 2026 | $5.0B | $1.7B | $3.2B | 34.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2025
-2.1 pts
Year-over-year change
Mar 31, 2025
-1.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin declined compared to the same quarter last year, driven by a proportionally larger increase in cost of revenue relative to revenue growth.
Compared to the immediately preceding quarter, revenue was lower, but gross profit and cost of revenue data for that quarter are missing, preventing a full margin comparison. Versus the same quarter one year earlier, revenue was higher, gross profit was stable, cost of revenue was higher, and gross margin was lower.
Monitor the trajectory of cost of revenue relative to revenue, as its faster growth contributed to the margin decline versus the prior year.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Trane Technologies plc (TT) | 34.8% |