Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Trane Technologies plc, solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Trane Technologies plc debt to equity ratio improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Trane Technologies plc debt to capital ratio improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Trane Technologies plc debt to assets ratio improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Trane Technologies plc financial leverage ratio decreased from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Trane Technologies plc interest coverage ratio improved from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
Debt to Equity
Trane Technologies plc, debt to equity calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Short-term borrowings and current maturities of long-term debt | 348,300) | 1,048,000) | 1,049,900) | 1,049,800) | 350,400) | 350,400) | 350,400) | 475,400) | 475,400) | 775,600) | 775,100) | 649,900) | 949,700) | 650,500) | 650,500) | 829,200) | 374,400) | 350,600) | 350,600) | 599,600) | 605,200) | |||||||
| Long-term debt,excluding current maturities | 4,481,800) | 3,788,300) | 3,787,500) | 3,786,700) | 4,492,600) | 4,491,700) | 4,490,700) | 4,489,800) | 4,496,300) | 4,496,500) | 4,494,200) | 4,618,200) | 4,624,800) | 4,922,900) | 4,921,900) | 4,920,600) | 5,226,500) | 3,740,700) | 3,739,800) | 3,738,900) | 3,745,500) | |||||||
| Total debt | 4,830,100) | 4,836,300) | 4,837,400) | 4,836,500) | 4,843,000) | 4,842,100) | 4,841,100) | 4,965,200) | 4,971,700) | 5,272,100) | 5,269,300) | 5,268,100) | 5,574,500) | 5,573,400) | 5,572,400) | 5,749,800) | 5,600,900) | 4,091,300) | 4,090,400) | 4,338,500) | 4,350,700) | |||||||
| Total Trane Technologies plc shareholders’ equity | 6,036,100) | 6,088,600) | 5,858,300) | 5,723,500) | 5,998,600) | 6,255,900) | 6,475,100) | 6,457,300) | 6,296,700) | 6,407,700) | 6,366,700) | 5,936,900) | 5,772,600) | 7,267,600) | 7,237,600) | 7,130,500) | 6,885,800) | 7,022,700) | 7,308,100) | 6,787,100) | 7,080,700) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to equity1 | 0.80 | 0.79 | 0.83 | 0.85 | 0.81 | 0.77 | 0.75 | 0.77 | 0.79 | 0.82 | 0.83 | 0.89 | 0.97 | 0.77 | 0.77 | 0.81 | 0.81 | 0.58 | 0.56 | 0.64 | 0.61 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 117.95 | — | — | — | — | |||||||
| Caterpillar Inc. | 2.04 | 2.33 | 2.34 | 2.35 | 2.20 | 2.29 | 2.21 | 2.23 | 2.30 | 2.42 | 2.55 | 2.81 | 2.61 | 2.58 | 2.54 | 2.45 | 2.32 | — | — | — | — | |||||||
| Eaton Corp. plc | 0.50 | 0.51 | 0.56 | 0.59 | 0.58 | 0.52 | 0.57 | 0.79 | 0.68 | 0.54 | 0.57 | 0.58 | 0.59 | 0.52 | 0.51 | 0.50 | 0.47 | — | — | — | — | |||||||
| GE Aerospace | 0.71 | 0.89 | 0.97 | 0.94 | 0.86 | 0.87 | 1.68 | 1.90 | 2.12 | 2.11 | 2.39 | 2.43 | 2.41 | 3.21 | 3.34 | 2.95 | 3.06 | — | — | — | — | |||||||
| Honeywell International Inc. | 1.13 | 1.17 | 0.96 | 1.09 | 1.05 | 1.06 | 1.19 | 1.19 | 1.19 | 1.28 | 1.23 | 1.22 | 0.91 | 0.87 | 1.03 | 0.91 | 0.86 | — | — | — | — | |||||||
| Lockheed Martin Corp. | 1.62 | 1.68 | 0.96 | 1.02 | 1.16 | 1.07 | 1.21 | 1.87 | 1.93 | 2.02 | 2.56 | 3.38 | 3.68 | 4.05 | 3.48 | 4.75 | 5.65 | — | — | — | — | |||||||
| RTX Corp. | 0.47 | 0.44 | 0.48 | 0.45 | 0.43 | 0.43 | 0.44 | 0.44 | 0.44 | 0.44 | 0.48 | 0.49 | 1.18 | 1.04 | 1.10 | 1.11 | 1.14 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Debt to equity = Total debt ÷ Total Trane Technologies plc shareholders’ equity
= 4,830,100 ÷ 6,036,100 = 0.80
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Trane Technologies plc debt to equity ratio improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023. |
Debt to Capital
Trane Technologies plc, debt to capital calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Short-term borrowings and current maturities of long-term debt | 348,300) | 1,048,000) | 1,049,900) | 1,049,800) | 350,400) | 350,400) | 350,400) | 475,400) | 475,400) | 775,600) | 775,100) | 649,900) | 949,700) | 650,500) | 650,500) | 829,200) | 374,400) | 350,600) | 350,600) | 599,600) | 605,200) | |||||||
| Long-term debt,excluding current maturities | 4,481,800) | 3,788,300) | 3,787,500) | 3,786,700) | 4,492,600) | 4,491,700) | 4,490,700) | 4,489,800) | 4,496,300) | 4,496,500) | 4,494,200) | 4,618,200) | 4,624,800) | 4,922,900) | 4,921,900) | 4,920,600) | 5,226,500) | 3,740,700) | 3,739,800) | 3,738,900) | 3,745,500) | |||||||
| Total debt | 4,830,100) | 4,836,300) | 4,837,400) | 4,836,500) | 4,843,000) | 4,842,100) | 4,841,100) | 4,965,200) | 4,971,700) | 5,272,100) | 5,269,300) | 5,268,100) | 5,574,500) | 5,573,400) | 5,572,400) | 5,749,800) | 5,600,900) | 4,091,300) | 4,090,400) | 4,338,500) | 4,350,700) | |||||||
| Total Trane Technologies plc shareholders’ equity | 6,036,100) | 6,088,600) | 5,858,300) | 5,723,500) | 5,998,600) | 6,255,900) | 6,475,100) | 6,457,300) | 6,296,700) | 6,407,700) | 6,366,700) | 5,936,900) | 5,772,600) | 7,267,600) | 7,237,600) | 7,130,500) | 6,885,800) | 7,022,700) | 7,308,100) | 6,787,100) | 7,080,700) | |||||||
| Total capital | 10,866,200) | 10,924,900) | 10,695,700) | 10,560,000) | 10,841,600) | 11,098,000) | 11,316,200) | 11,422,500) | 11,268,400) | 11,679,800) | 11,636,000) | 11,205,000) | 11,347,100) | 12,841,000) | 12,810,000) | 12,880,300) | 12,486,700) | 11,114,000) | 11,398,500) | 11,125,600) | 11,431,400) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to capital1 | 0.44 | 0.44 | 0.45 | 0.46 | 0.45 | 0.44 | 0.43 | 0.43 | 0.44 | 0.45 | 0.45 | 0.47 | 0.49 | 0.43 | 0.44 | 0.45 | 0.45 | 0.37 | 0.36 | 0.39 | 0.38 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||||
| Boeing Co. | 1.39 | 1.39 | 1.45 | 1.35 | 1.36 | 1.35 | 1.30 | 1.36 | 1.40 | 1.40 | 1.24 | 1.23 | 1.33 | 1.46 | 1.20 | 1.38 | 0.99 | — | — | — | — | |||||||
| Caterpillar Inc. | 0.67 | 0.70 | 0.70 | 0.70 | 0.69 | 0.70 | 0.69 | 0.69 | 0.70 | 0.71 | 0.72 | 0.74 | 0.72 | 0.72 | 0.72 | 0.71 | 0.70 | — | — | — | — | |||||||
| Eaton Corp. plc | 0.34 | 0.34 | 0.36 | 0.37 | 0.37 | 0.34 | 0.36 | 0.44 | 0.40 | 0.35 | 0.36 | 0.37 | 0.37 | 0.34 | 0.34 | 0.33 | 0.32 | — | — | — | — | |||||||
| GE Aerospace | 0.41 | 0.47 | 0.49 | 0.48 | 0.46 | 0.47 | 0.63 | 0.65 | 0.68 | 0.68 | 0.70 | 0.71 | 0.71 | 0.76 | 0.77 | 0.75 | 0.75 | — | — | — | — | |||||||
| Honeywell International Inc. | 0.53 | 0.54 | 0.49 | 0.52 | 0.51 | 0.51 | 0.54 | 0.54 | 0.54 | 0.56 | 0.55 | 0.55 | 0.48 | 0.46 | 0.51 | 0.48 | 0.46 | — | — | — | — | |||||||
| Lockheed Martin Corp. | 0.62 | 0.63 | 0.49 | 0.50 | 0.54 | 0.52 | 0.55 | 0.65 | 0.66 | 0.67 | 0.72 | 0.77 | 0.79 | 0.80 | 0.78 | 0.83 | 0.85 | — | — | — | — | |||||||
| RTX Corp. | 0.32 | 0.31 | 0.32 | 0.31 | 0.30 | 0.30 | 0.30 | 0.31 | 0.31 | 0.31 | 0.32 | 0.33 | 0.54 | 0.51 | 0.52 | 0.53 | 0.53 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 4,830,100 ÷ 10,866,200 = 0.44
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Trane Technologies plc debt to capital ratio improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023. |
Debt to Assets
Trane Technologies plc, debt to assets calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Short-term borrowings and current maturities of long-term debt | 348,300) | 1,048,000) | 1,049,900) | 1,049,800) | 350,400) | 350,400) | 350,400) | 475,400) | 475,400) | 775,600) | 775,100) | 649,900) | 949,700) | 650,500) | 650,500) | 829,200) | 374,400) | 350,600) | 350,600) | 599,600) | 605,200) | |||||||
| Long-term debt,excluding current maturities | 4,481,800) | 3,788,300) | 3,787,500) | 3,786,700) | 4,492,600) | 4,491,700) | 4,490,700) | 4,489,800) | 4,496,300) | 4,496,500) | 4,494,200) | 4,618,200) | 4,624,800) | 4,922,900) | 4,921,900) | 4,920,600) | 5,226,500) | 3,740,700) | 3,739,800) | 3,738,900) | 3,745,500) | |||||||
| Total debt | 4,830,100) | 4,836,300) | 4,837,400) | 4,836,500) | 4,843,000) | 4,842,100) | 4,841,100) | 4,965,200) | 4,971,700) | 5,272,100) | 5,269,300) | 5,268,100) | 5,574,500) | 5,573,400) | 5,572,400) | 5,749,800) | 5,600,900) | 4,091,300) | 4,090,400) | 4,338,500) | 4,350,700) | |||||||
| Total assets | 17,897,400) | 18,081,600) | 17,739,800) | 17,680,800) | 17,636,900) | 18,059,800) | 18,202,200) | 18,369,400) | 17,824,800) | 18,156,700) | 17,939,400) | 17,223,600) | 17,635,600) | 20,492,300) | 20,306,900) | 20,667,600) | 19,781,000) | 17,914,900) | 18,304,500) | 18,377,900) | 18,365,100) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to assets1 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.28 | 0.29 | 0.29 | 0.31 | 0.32 | 0.27 | 0.27 | 0.28 | 0.28 | 0.23 | 0.22 | 0.24 | 0.24 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||||
| Boeing Co. | 0.41 | 0.42 | 0.42 | 0.42 | 0.43 | 0.42 | 0.43 | 0.43 | 0.42 | 0.42 | 0.38 | 0.38 | 0.27 | 0.20 | 0.19 | 0.15 | 0.12 | — | — | — | — | |||||||
| Caterpillar Inc. | 0.44 | 0.45 | 0.45 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.47 | 0.47 | 0.50 | 0.50 | 0.49 | 0.48 | 0.49 | 0.46 | 0.45 | — | — | — | — | |||||||
| Eaton Corp. plc | 0.25 | 0.25 | 0.26 | 0.28 | 0.27 | 0.25 | 0.27 | 0.33 | 0.30 | 0.25 | 0.26 | 0.27 | 0.27 | 0.25 | 0.25 | 0.25 | 0.24 | — | — | — | — | |||||||
| GE Aerospace | 0.14 | 0.17 | 0.17 | 0.18 | 0.18 | 0.18 | 0.27 | 0.27 | 0.29 | 0.30 | 0.31 | 0.32 | 0.32 | 0.34 | 0.35 | 0.34 | 0.34 | — | — | — | — | |||||||
| Honeywell International Inc. | 0.32 | 0.31 | 0.28 | 0.31 | 0.31 | 0.30 | 0.33 | 0.33 | 0.34 | 0.35 | 0.35 | 0.35 | 0.28 | 0.27 | 0.31 | 0.28 | 0.28 | — | — | — | — | |||||||
| Lockheed Martin Corp. | 0.29 | 0.29 | 0.22 | 0.22 | 0.23 | 0.23 | 0.23 | 0.23 | 0.24 | 0.24 | 0.25 | 0.26 | 0.26 | 0.27 | 0.28 | 0.28 | 0.29 | — | — | — | — | |||||||
| RTX Corp. | 0.21 | 0.20 | 0.21 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.33 | 0.31 | 0.32 | 0.33 | 0.33 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 4,830,100 ÷ 17,897,400 = 0.27
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Trane Technologies plc debt to assets ratio improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023. |
Financial Leverage
Trane Technologies plc, financial leverage calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Total assets | 17,897,400) | 18,081,600) | 17,739,800) | 17,680,800) | 17,636,900) | 18,059,800) | 18,202,200) | 18,369,400) | 17,824,800) | 18,156,700) | 17,939,400) | 17,223,600) | 17,635,600) | 20,492,300) | 20,306,900) | 20,667,600) | 19,781,000) | 17,914,900) | 18,304,500) | 18,377,900) | 18,365,100) | |||||||
| Total Trane Technologies plc shareholders’ equity | 6,036,100) | 6,088,600) | 5,858,300) | 5,723,500) | 5,998,600) | 6,255,900) | 6,475,100) | 6,457,300) | 6,296,700) | 6,407,700) | 6,366,700) | 5,936,900) | 5,772,600) | 7,267,600) | 7,237,600) | 7,130,500) | 6,885,800) | 7,022,700) | 7,308,100) | 6,787,100) | 7,080,700) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Financial leverage1 | 2.97 | 2.97 | 3.03 | 3.09 | 2.94 | 2.89 | 2.81 | 2.84 | 2.83 | 2.83 | 2.82 | 2.90 | 3.06 | 2.82 | 2.81 | 2.90 | 2.87 | 2.55 | 2.50 | 2.71 | 2.59 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 961.67 | — | — | — | — | |||||||
| Caterpillar Inc. | 4.61 | 5.16 | 5.19 | 5.16 | 4.82 | 5.02 | 4.85 | 4.85 | 4.87 | 5.11 | 5.13 | 5.57 | 5.35 | 5.38 | 5.22 | 5.34 | 5.10 | — | — | — | — | |||||||
| Eaton Corp. plc | 2.04 | 2.06 | 2.14 | 2.15 | 2.12 | 2.07 | 2.14 | 2.39 | 2.27 | 2.13 | 2.14 | 2.14 | 2.17 | 2.04 | 2.01 | 1.98 | 1.95 | — | — | — | — | |||||||
| GE Aerospace | 5.20 | 5.16 | 5.75 | 5.35 | 4.92 | 4.93 | 6.33 | 7.09 | 7.30 | 7.13 | 7.64 | 7.62 | 7.43 | 9.40 | 9.42 | 8.71 | 8.96 | — | — | — | — | |||||||
| Honeywell International Inc. | 3.54 | 3.73 | 3.40 | 3.55 | 3.45 | 3.47 | 3.60 | 3.56 | 3.53 | 3.68 | 3.51 | 3.50 | 3.25 | 3.17 | 3.32 | 3.23 | 3.12 | — | — | — | — | |||||||
| Lockheed Martin Corp. | 5.66 | 5.71 | 4.35 | 4.53 | 5.15 | 4.64 | 5.38 | 7.99 | 8.15 | 8.43 | 10.25 | 13.22 | 14.29 | 15.20 | 12.66 | 16.79 | 19.34 | — | — | — | — | |||||||
| RTX Corp. | 2.22 | 2.19 | 2.25 | 2.26 | 2.20 | 2.21 | 2.23 | 2.23 | 2.24 | 2.25 | 2.37 | 2.40 | 3.54 | 3.34 | 3.44 | 3.41 | 3.46 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Financial leverage = Total assets ÷ Total Trane Technologies plc shareholders’ equity
= 17,897,400 ÷ 6,036,100 = 2.97
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Trane Technologies plc financial leverage ratio decreased from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
Interest Coverage
Trane Technologies plc, interest coverage calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Net earnings (loss) attributable to Trane Technologies plc | 307,100) | 439,100) | 547,900) | 509,300) | 260,200) | 317,800) | 405,700) | 464,700) | 235,200) | 244,700) | 400,600) | 238,800) | (29,200) | 296,100) | 458,800) | 456,100) | 199,900) | 254,000) | 515,100) | 448,100) | 120,400) | |||||||
| Add: Net income attributable to noncontrolling interest | 4,000) | 4,900) | 4,500) | 5,600) | 3,200) | 3,300) | 3,000) | 4,300) | 2,600) | 4,500) | 4,000) | 3,300) | 3,300) | 5,000) | 4,600) | 4,200) | 3,800) | 7,400) | 4,300) | 4,500) | 3,700) | |||||||
| Less: Discontinued operations, net of tax | (5,500) | (5,000) | (7,900) | (1,600) | (7,000) | (8,000) | (13,300) | (200) | 900) | (1,000) | (5,500) | (36,200) | (78,700) | 23,900) | 24,400) | (5,600) | (2,100) | 5,500) | (11,700) | (5,900) | (9,400) | |||||||
| Add: Income tax expense | 73,200) | 73,500) | 104,700) | 136,600) | 61,100) | 65,500) | 96,800) | 122,800) | 48,400) | 72,400) | 89,900) | 83,500) | 51,000) | 74,500) | 112,900) | 123,300) | 43,000) | 121,400) | (1,100) | 128,000) | 33,000) | |||||||
| Add: Interest expense | 57,600) | 55,800) | 55,800) | 55,900) | 56,000) | 56,000) | 57,700) | 59,300) | 60,700) | 61,900) | 62,400) | 61,300) | 63,100) | 63,300) | 64,100) | 64,700) | 50,900) | 49,000) | 48,500) | 50,300) | 72,900) | |||||||
| Earnings before interest and tax (EBIT) | 447,400) | 578,300) | 720,800) | 709,000) | 387,500) | 450,600) | 576,500) | 651,300) | 346,000) | 384,500) | 562,400) | 423,100) | 166,900) | 415,000) | 616,000) | 653,900) | 299,700) | 426,300) | 578,500) | 636,800) | 239,400) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Interest coverage1 | 10.91 | 10.72 | 10.14 | 9.41 | 9.02 | 8.66 | 8.17 | 7.96 | 6.97 | 6.18 | 6.27 | 6.44 | 7.26 | 8.17 | 8.73 | 9.19 | 9.77 | 8.52 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | ||||||||||||||||||||||||||||
| Boeing Co. | -0.53 | -0.98 | -2.54 | -1.40 | -1.31 | -0.88 | -2.29 | -2.55 | -4.26 | -5.71 | -3.83 | -3.86 | -6.13 | -2.19 | — | — | — | — | — | — | — | |||||||
| Caterpillar Inc. | 21.33 | 20.80 | 22.05 | 20.08 | 19.10 | 17.88 | 14.11 | 11.79 | 9.28 | 8.80 | 9.94 | 13.07 | 17.44 | 19.62 | — | — | — | — | — | — | — | |||||||
| Eaton Corp. plc | 19.85 | 21.22 | 21.33 | 24.31 | 22.57 | 21.11 | 20.08 | 15.71 | 11.87 | 12.72 | 11.39 | 11.72 | 13.79 | 11.98 | — | — | — | — | — | — | — | |||||||
| GE Aerospace | 6.73 | 1.88 | -1.66 | -1.16 | -1.49 | -0.96 | 2.15 | 1.11 | 0.65 | 2.59 | 2.16 | 2.11 | 2.64 | 1.27 | — | — | — | — | — | — | — | |||||||
| Honeywell International Inc. | 14.34 | 16.41 | 20.95 | 20.60 | 21.35 | 22.09 | 20.98 | 18.89 | 16.79 | 17.75 | 18.10 | 20.68 | 23.18 | 22.17 | — | — | — | — | — | — | — | |||||||
| Lockheed Martin Corp. | 10.58 | 11.72 | 13.31 | 10.88 | 14.12 | 14.27 | 13.67 | 15.97 | 15.44 | 14.93 | 14.16 | 13.35 | 12.63 | 12.09 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Interest coverage
= (EBITQ1 2023
+ EBITQ4 2022
+ EBITQ3 2022
+ EBITQ2 2022)
÷ (Interest expenseQ1 2023
+ Interest expenseQ4 2022
+ Interest expenseQ3 2022
+ Interest expenseQ2 2022)
= (447,400 + 578,300 + 720,800 + 709,000)
÷ (57,600 + 55,800 + 55,800 + 55,900)
= 10.91
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Trane Technologies plc interest coverage ratio improved from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |