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Trane Technologies plc (NYSE:TT)

This company has been moved to the archive! The financial data has not been updated since May 3, 2023.

Total Asset Turnover
since 2005

Microsoft Excel

Calculation

Trane Technologies plc, total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Net revenues1 ÷ Total assets1
Dec 31, 2022 0.88 = 15,991,700 ÷ 18,081,600
Dec 31, 2021 0.78 = 14,136,400 ÷ 18,059,800
Dec 31, 2020 0.69 = 12,454,700 ÷ 18,156,700
Dec 31, 2019 0.81 = 16,598,900 ÷ 20,492,300
Dec 31, 2018 0.87 = 15,668,200 ÷ 17,914,900
Dec 31, 2017 0.78 = 14,197,600 ÷ 18,173,300
Dec 31, 2016 0.78 = 13,508,900 ÷ 17,397,400
Dec 31, 2015 0.79 = 13,300,700 ÷ 16,738,800
Dec 31, 2014 0.75 = 12,891,400 ÷ 17,298,500
Dec 31, 2013 0.70 = 12,350,500 ÷ 17,658,100
Dec 31, 2012 0.76 = 14,034,900 ÷ 18,492,900
Dec 31, 2011 0.79 = 14,782,000 ÷ 18,754,200
Dec 31, 2010 0.70 = 14,079,100 ÷ 19,990,900
Dec 31, 2009 0.66 = 13,195,300 ÷ 19,991,000
Dec 31, 2008 0.63 = 13,227,400 ÷ 20,924,500
Dec 31, 2007 0.61 = 8,763,100 ÷ 14,376,200
Dec 31, 2006 0.94 = 11,409,300 ÷ 12,145,900
Dec 31, 2005 0.90 = 10,546,900 ÷ 11,756,400

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in thousands

The total asset turnover ratio has experienced significant volatility between 2005 and 2022, characterized by an initial sharp contraction, a prolonged period of recovery, and a temporary decline in 2020 followed by a strong rebound.

Efficiency Trends and Volatility
The asset turnover ratio reached an early peak of 0.94 in 2006 before plummeting to 0.61 in 2007. This marked the lowest efficiency level in the analyzed period. Following this trough, the ratio entered a gradual upward trajectory, climbing to 0.87 by 2018. This long-term recovery indicates a steady improvement in the ability to generate revenue from the company's asset base over a decade.
Impact of Asset Base Expansion
A notable divergence occurred between 2007 and 2008, where total assets surged from approximately 14.4 billion to 20.9 billion. This substantial increase in the asset denominator suppressed the turnover ratio during this period, keeping it between 0.61 and 0.66 despite a recovery in net revenues. The subsequent gradual decline and stabilization of total assets toward 18 billion contributed to the gradual rise in the turnover ratio through 2018.
Analysis of Recent Fluctuations
A significant downturn is observed in 2020, with the turnover ratio dropping to 0.69. This decline was driven primarily by a contraction in net revenues, which fell from 16.6 billion in 2019 to 12.5 billion in 2020, while the asset base remained relatively stable. However, a rapid recovery followed, with the ratio increasing to 0.78 in 2021 and reaching 0.88 in 2022, signaling a return to high operational efficiency levels near those seen in the mid-2000s.

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Comparison to Competitors

Trane Technologies plc, total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
Trane Technologies plc Boeing Co. Caterpillar Inc. Eaton Corp. plc GE Aerospace Honeywell International Inc. Lockheed Martin Corp. RTX Corp.
Dec 31, 2022 0.88 0.49 0.69 0.59 0.39 0.57 1.25 0.42
Dec 31, 2021 0.78 0.45 0.58 0.58 0.36 0.53 1.32 0.40
Dec 31, 2020 0.69 0.38 0.50 0.56 0.29 0.51 1.29 0.35
Dec 31, 2019 0.81 0.57 0.65 0.65 0.33 0.63 1.26 0.55
Dec 31, 2018 0.87 0.86 0.66 0.70 0.37 0.72 1.20 0.50
Dec 31, 2017 0.78 1.01 0.55 0.63 0.30 0.68 1.10 0.62
Dec 31, 2016 0.78 1.05 0.48 0.65 0.30 0.73 0.99 0.64
Dec 31, 2015 0.79 1.02 0.56 0.67 0.21 0.78 0.94 0.64
Dec 31, 2014 0.75 0.91 0.62 0.67 0.16 0.89 1.23 0.71
Dec 31, 2013 0.70 0.93 0.62 0.62 0.15 0.86 1.25 0.69
Dec 31, 2012 0.76 0.92 0.71 0.46 0.15 0.90 1.22 0.65
Dec 31, 2011 0.79 0.86 0.70 0.90 0.13 0.92 1.23 0.95
Dec 31, 2010 0.70 0.94 0.62 0.79 0.13 0.88 1.31 0.93
Dec 31, 2009 0.66 1.10 0.49 0.73 0.13 0.86 1.29 0.94
Dec 31, 2008 0.63 1.13 0.71 0.92 0.14 1.03 1.28 1.03
Dec 31, 2007 0.61 1.13 0.75 0.97 0.13 1.02 1.45 0.99
Dec 31, 2006 0.94 1.19 0.76 1.08 0.14 1.01 1.40 1.00
Dec 31, 2005 0.90 0.91 0.72 1.09 0.14 0.86 1.34 0.92

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Sector (Capital Goods)

Trane Technologies plc, total asset turnover, long-term trends, comparison to sector (capital goods)

Microsoft Excel
Trane Technologies plc Capital Goods
Dec 31, 2022 0.88 0.54
Dec 31, 2021 0.78 0.50
Dec 31, 2020 0.69 0.43
Dec 31, 2019 0.81 0.54
Dec 31, 2018 0.87 0.58
Dec 31, 2017 0.78 0.54
Dec 31, 2016 0.78 0.54
Dec 31, 2015 0.79 0.46
Dec 31, 2014 0.75 0.41
Dec 31, 2013 0.70 0.39
Dec 31, 2012 0.76 0.38
Dec 31, 2011 0.79 0.36
Dec 31, 2010 0.70 0.34
Dec 31, 2009 0.66 0.33
Dec 31, 2008 0.63 0.35
Dec 31, 2007 0.61 0.34
Dec 31, 2006 0.94 0.36
Dec 31, 2005 0.90 0.33

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Industry (Industrials)

Trane Technologies plc, total asset turnover, long-term trends, comparison to industry (industrials)

Microsoft Excel
Trane Technologies plc Industrials
Dec 31, 2022 0.88 0.66
Dec 31, 2021 0.78 0.58
Dec 31, 2020 0.69 0.50
Dec 31, 2019 0.81 0.62
Dec 31, 2018 0.87 0.67
Dec 31, 2017 0.78 0.62
Dec 31, 2016 0.78 0.61
Dec 31, 2015 0.79 0.54
Dec 31, 2014 0.75 0.49
Dec 31, 2013 0.70 0.47
Dec 31, 2012 0.76 0.46
Dec 31, 2011 0.79 0.45
Dec 31, 2010 0.70 0.41
Dec 31, 2009 0.66 0.39
Dec 31, 2008 0.63 0.43
Dec 31, 2007 0.61 0.41
Dec 31, 2006 0.94 0.43
Dec 31, 2005 0.90 0.40

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).