NYSE Shariah screener · October 2026
Is Trane Technologies plc (TT) Halal?
Trane Technologies plc · NYSE: TT · Industrials
The short answer
Yes - Trane Technologies plc (TT) passes this Shariah stock screen at all three gates. Trane, the Dublin-based climate innovator, earns its revenue from HVAC (Trane brand), transport refrigeration (Thermo King brand), and data center cooling (FY2025 net revenues $21,321.9M) - none of which involve alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance as a core activity. The financial ratios pass: interest-bearing debt of $4,615.1M is about 4.57% of its ~$101B market cap ($458.94/share, October 2, 2026), below the ~33% ceiling, and interest income of $4.5M is about 0.021% of revenue, below the 5% ceiling. Musaffa classifies Trane Technologies halal and ShariaPortfolio rates it Shariah Compliant (5/5 standards). This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.
Gate 1 — Business activity: PASS
Trane Technologies plc (NYSE: TT), based in Swords, Dublin, Ireland (Ireland; Commission File No. 001-34400; EIN 98-0626632; ~44,000 employees; CEO Dave Regnery; CFO Christopher Kuehn), is a global climate innovator. Its brands are Trane and Thermo King. Its segments are Americas (commercial heating/cooling/ventilation, building controls, energy services, residential HVAC, transport refrigeration), EMEA, and Asia Pacific. It also provides turnkey data center cooling solutions and liquid cooling technology for data centers. Business-screen implication (factual): HVAC/climate, transport refrigeration, data center cooling - no alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance as a core activity. Gate 1 passes. Facts only.
Gate 2 — Debt and cash: PASS
Per Trane Technologies' FY2025 10-K (fiscal year ended December 31, 2025; $ millions), interest-bearing debt at December 31, 2025 was: short-term borrowings and current maturities of long-term debt $693.0M + long-term debt $3,922.1M = $4,615.1M (balance-sheet figures via the Q1 and Q2 2026 10-Q comparative balance sheets; Q2 2026 balance sheet: long-term debt $3,923.7M). Against a market cap of about $101B ($458.94 per share, Finnhub, October 2, 2026; sanity check: ~220.0M shares outstanding x $458.94 = about $101.0B - consistent), debt / market cap is about 4.57% - below the ~33% ceiling. Cash and cash equivalents of $1,763.3M is about 1.75% of market cap. Gate 2 passes. Facts only.
Gate 3 — Non-compliant income: PASS
Trane Technologies' FY2025 10-K income statement has no separate interest-income line (only 'Interest expense' and 'Other income/(expense), net'). Zoya's FY2025 annual-report parse reports interest income of $4.5M - the only parsed figure available, cited via Zoya with this honest note. $4.5M / FY2025 net revenues of $21,321.9M (products $13,982.3M + services $7,339.6M) = about 0.021% of revenue - below the 5% non-compliant income ceiling. Interest expense was $226.7M; net earnings were $2,935.7M. Gate 3 passes. Facts only.
Key figures used
- Business: global climate innovator (HQ Swords, Dublin, Ireland; ~44,000 employees) - Trane and Thermo King brands; segments: Americas, EMEA, Asia Pacific; HVAC, transport refrigeration, turnkey data center cooling and liquid cooling
- FY2025 (10-K; $ millions): net revenues $21,321.9M (products $13,982.3M + services $7,339.6M); operating income $3,967.4M; interest expense $226.7M; net earnings $2,935.7M; diluted EPS $12.98
- Debt: $4,615.1M interest-bearing (Dec 31, 2025) - about 4.57% of ~$101B market cap ($458.94, Oct 2, 2026), below the ~33% ceiling
- Interest income: $4.5M (Zoya's FY2025 annual-report parse; the 10-K discloses no separate line) - about 0.021% of $21,321.9M net revenues, below the 5% ceiling
- No haram segments: HVAC/climate, transport refrigeration, data center cooling - no alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance
- Third-party screeners: Musaffa classifies halal (AAOIFI, Oct 2026); ShariaPortfolio rates 'Shariah Compliant ... passes 5/5 Shariah standards'; Zoya covers (garbled page - data only, no PASS/FAIL quoted)
- Material: Q2 2026 (Jul 30, 2026): revenue $6.4B (+10.6% YoY), net income $925.7M (+5.8%), raised full-year revenue and EPS guidance; $12.1B backlog; Wells Fargo initiated coverage with Overweight, $536 price target (Sep 2026); next earnings October 29, 2026; dividend $2.10/share quarterly ($4.20 annualized, ~0.88% yield)
- Listing: NYSE-listed ordinary shares (ticker TT; Ireland; Commission File No. 001-34400); live quote $458.94 Oct 2, 2026 - no delisting
Frequently asked questions
What does Trane Technologies do?
Trane Technologies plc (NYSE: TT), based in Swords, Dublin, Ireland (Ireland; Commission File No. 001-34400; EIN 98-0626632; ~44,000 employees; CEO Dave Regnery), is a global climate innovator. Its brands are Trane and Thermo King. Its segments are Americas (commercial heating/cooling/ventilation, building controls, energy services, residential HVAC, transport refrigeration), EMEA, and Asia Pacific. It also provides turnkey data center cooling solutions and liquid cooling technology for data centers. Its ordinary shares trade on the New York Stock Exchange (ticker TT). In FY2025 (year ended December 31, 2025) it reported net revenues of $21,321.9M.
Why does Trane Technologies pass this Shariah stock screen?
Trane Technologies passes all three gates of this Shariah stock screen. Gate 1 (business activity): HVAC/climate (Trane, Thermo King brands), transport refrigeration, and data center cooling involve no alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance as a core activity - a clean business. Gate 2 (debt): interest-bearing debt of $4,615.1M is about 4.57% of its ~$101B market cap (October 2, 2026), below the ~33% ceiling. Gate 3 (non-compliant income): interest income of $4.5M is about 0.021% of FY2025 net revenues ($21,321.9M), below the 5% ceiling. Result: PASS. One honest sourcing note: the 10-K discloses no separate interest-income line - the $4.5M figure is Zoya's FY2025 annual-report parse, cited as such. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.
What is Trane Technologies' interest-bearing debt ratio?
Per Trane Technologies' FY2025 10-K (fiscal year ended December 31, 2025; $ millions), interest-bearing debt at December 31, 2025 was: short-term borrowings and current maturities of long-term debt $693.0M + long-term debt $3,922.1M = $4,615.1M (balance-sheet figures via the Q1 and Q2 2026 10-Q comparative balance sheets; Q2 2026 balance sheet: long-term debt $3,923.7M). Against a market cap of about $101B ($458.94 per share, Finnhub, October 2, 2026; sanity check: ~220.0M shares outstanding x $458.94 = about $101.0B - consistent), debt / market cap is about 4.57% - below the ~33% ceiling. Cash and cash equivalents of $1,763.3M is about 1.75% of market cap. Gate 2 passes. Facts only.
How much interest income does Trane Technologies earn?
Trane Technologies' FY2025 10-K income statement has no separate interest-income line (only 'Interest expense' and 'Other income/(expense), net'). Zoya's FY2025 annual-report parse reports interest income of $4.5M - the only parsed figure available, cited via Zoya. $4.5M / FY2025 net revenues of $21,321.9M (products $13,982.3M + services $7,339.6M) = about 0.021% of revenue - below the 5% non-compliant income ceiling. Interest expense was $226.7M; net earnings were $2,935.7M. Gate 3 passes. Facts only.
Do Zoya, Musaffa, or ShariaPortfolio cover Trane Technologies?
Zoya covers Trane Technologies at zoya.finance/stocks/tt: its auto-generated FAQ page is garbled/contradictory (one line reads 'Shariah-compliant and therefore considered halal,' another 'Shariah-compliant and therefore not considered halal'), so no clean Zoya PASS/FAIL can be quoted - only coverage and underlying data are reported (FY2025 revenue $21,321,900,000 and interest income $4,500,000, 0.02% of the combined total). Musaffa covers TT at musaffa.com/stock/TT/: 'As of October 2026, Trane Technologies PLC is classified as halal' (AAOIFI methodology). ShariaPortfolio covers TT at spscreener.mxcorporate.com/ticker/tt-trane-technologies-plc/: 'Trane Technologies PLC is Shariah Compliant. It passes 5/5 Shariah standards we screen against.'
Sources
- Trane Technologies plc FY2025 10-K (fiscal year ended December 31, 2025; $ millions): net revenues $21,321.9M (products $13,982.3M + services $7,339.6M); operating income $3,967.4M; interest expense $226.7M; net earnings $2,935.7M; short-term borrowings and current maturities of long-term debt $693.0M; long-term debt $3,922.1M; cash and cash equivalents $1,763.3M (balance-sheet figures via Q1 and Q2 2026 10-Q comparative balance sheets)
- Zoya Trane Technologies stock page (2026): coverage of TT; publishes FY2025 revenue $21,321,900,000 and interest income $4,500,000 (0.02% of the combined total); auto-generated FAQ text garbled/contradictory - data only, no PASS/FAIL quoted
- Musaffa Trane Technologies stock page (Oct 2026): 'As of October 2026, Trane Technologies PLC is classified as halal' (AAOIFI methodology)
- ShariaPortfolio Trane Technologies page: 'Trane Technologies PLC is Shariah Compliant. It passes 5/5 Shariah standards we screen against'
- Finnhub TT live market data (Oct 2, 2026): NYSE (XNYS), price ~$458.94 - live quote, no delisting
Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.
Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).