• Trane Technologies average return on tangible equity for 2023 was -71.28, a 17.9% increase from 2022.
• Trane Technologies average return on tangible equity for 2022 was -60.46, a 0.45% increase from 2021.
• Trane Technologies average return on tangible equity for 2021 was -60.19, a 46.91% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.