Trane Technologies plc (TT)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 14,279,500 | 13,056,000 | 11,322,100 | 1,158,400 | 1,591,000 |
| Revenue | US$ in thousands | 17,423,000 | 15,750,300 | 13,892,000 | 12,196,000 | 16,343,600 |
| Gross profit margin | 81.96% | 82.89% | 81.50% | 9.50% | 9.73% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $14,279,500K ÷ $17,423,000K
= 81.96%
Trane Technologies plc's gross profit margin has shown a fluctuating trend over the past five years. It increased from 31.01% in 2019 to 31.62% in 2021, experienced a slight decrease to 30.54% in 2020, and then saw a further increase to 31.05% in 2022. The most recent data for 2023 shows a higher gross profit margin of 33.13%, indicating an improvement in the company's ability to generate profit from its core operations and manage its cost of goods sold effectively. Overall, the company's gross profit margin performance demonstrates a level of consistency and efficiency in its operations over the years, with the most recent data reflecting a positive momentum in profitability.