TORVANTA
Industrials · S&P 500 · data as of 2026-10-05

TT stock analysis: Trane Technologies

Trane Technologies (TT) is an S&P 500 company in Building Products. It grades weakest on value.

The model's view of TT · subscribers

Where TT ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with TT · updated 2026-10-05 · from prices and SEC filings

TT price performance

TT against the S&P 500, one year
-10%+0%+10%+20%S&P 500 +18%TT +15%2025-09-292026-10-05
Year to date+21.8%S&P 500 +14.5% · ahead by 7.3 pts
1 year+12.1%S&P 500 +17.0% · behind by 5.0 pts
3 years+141.6%S&P 500 +89.3% · ahead by 52.3 pts
5 years+182.4%S&P 500 +91.3% · ahead by 91.1 pts

Total returns with dividends reinvested.

TT factor grades

Each grade compares TT with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

D+ValueP/E 35.6x (industry 24.3x)FCF yield 3.4% (industry 5.2%)
CGrowthRevenue growth +7% (industry +0%)EPS growth +5% (industry +2%)
B-ProfitabilityOperating margin 17.9% (industry 17.5%)ROIC 23.8% (industry 22.5%)
BMomentum12-month change +12%From 52-wk high -6%

TT in plain numbers

TT key statistics

SectorIndustrials
IndustryBuilding Products
IndexS&P 500
Market value$103.6B
Revenue growth (y/y)+7%
Free-cash-flow yield3.4%
Dividend yield0.9%
Next earnings (expected)2026-10-29
Valuation measures
Market value$103.6B
Enterprise value$108.2B
P/E (trailing)35.6x
Forward P/E (Torvanta estimate)34.4x
PEG (Torvanta estimate)9.53
Price / sales4.7x
Price / book12.0x
EV / revenue4.9x
EV / EBITDA24.7x
Financial highlights
Revenue, last 12 months$22.2B
Net income, last 12 months$2.9B
EPS, last 12 months (GAAP)$13.21
Operating margin17.9%
Net margin13.3%
Return on equity35.8%
Return on invested capital23.8%
Total debt$4.6B
Debt / equity0.54x
Free cash flow, last 12 months$3.5B
Interest cover18.1x
Current ratio1.07x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

TT earnings trends

Revenue vs earnings
$0$1.6B$3.2B$4.8B$6.4BSep 2024 Revenue: $5.4BDec 2024 Revenue: $4.9BMar 2025 Revenue: $4.7BJun 2025 Revenue: $5.7BSep 2025 Revenue: $5.7BDec 2025 Revenue: $5.1BMar 2026 Revenue: $5.0BJun 2026 Revenue: $6.4BSep 2024 Net income: $772.0MDec 2024 Net income: $604.3MMar 2025 Net income: $604.9MJun 2025 Net income: $874.8MSep 2025 Net income: $847.6MDec 2025 Net income: $591.3MMar 2026 Net income: $584.4MJun 2026 Net income: $925.7MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 14.2%Net margin: 12.4%Net margin: 12.9%Net margin: 15.2%Net margin: 14.8%Net margin: 11.5%Net margin: 11.8%Net margin: 14.6%0%8%15%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$1.0$2.1$3.1$4.2Sep 2024 EPS (GAAP, diluted): $3.4Dec 2024 EPS (GAAP, diluted): $2.7Mar 2025 EPS (GAAP, diluted): $2.7Jun 2025 EPS (GAAP, diluted): $3.9Sep 2025 EPS (GAAP, diluted): $3.8Dec 2025 EPS (GAAP, diluted): $2.7Mar 2026 EPS (GAAP, diluted): $2.6Jun 2026 EPS (GAAP, diluted): $4.2Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 +12% · Dec 2025 -0% · Mar 2026 -2% · Jun 2026 +7%

From the company's 10-Q and 10-K filings with the SEC.

Trane Technologies financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$14.1B$16.0B$17.7B$19.8B$21.3B
Net income$1.4B$1.8B$2.0B$2.6B$2.9B
EPS (GAAP)$5.88$7.49$8.79$11.24$12.99
Free cash flow$1.4B$1.2B$2.1B$2.8B$2.8B

TT earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-30$4.16+7%+11%-0.6%
2026-04-30$2.62-2%+6%+0.2%
2026-01-29$2.650%+6%+7.2%
2025-10-30$3.78+12%+6%+5.7%
2025-07-30$3.89+18%+8%-6.5%
2025-04-30$2.67+41%+11%+10.3%

About Trane Technologies

HeadquartersCo. Dublin, Ireland
Industry (SEC code)Auto Controls For Regulating Residential & Comml Environments
Fiscal year endsDecember 31
Incorporated inIreland
Listed onNYSE
FormerlyIngersoll-Rand plc

From the company's SEC registration record.

Companies similar to TT

CompanyMarket valueP/ERevenue growthOperating margin12-month change
TT Trane Technologies$103.6B35.6x+7%17.9%+12%
JCI Johnson Controls$95.7B28.4x+15%n/a+46%compare
CARR Carrier Global$46.3B36.4x-5%8.2%-5%compare
MAS Masco$13.8B17.0x-0%16.6%-1%compare
ALLE Allegion$13.1B20.1x+11%20.8%-12%
LII Lennox International$12.6B16.3x-2%19.5%-34%
AOS A. O. Smith$7.9B15.8x+0%17.5%-21%

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Frequently asked questions

Is TT stock a buy?

Torvanta does not tell individuals what to buy. Its grades for TT are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is TT's P/E ratio?

TT trades at about 35.6 times its last 12 months of GAAP earnings reported to the SEC, and about 34.4 times Torvanta's own estimate of the next 12 months.

When does TT report earnings next?

Based on its filing history, Torvanta expects Trane Technologies to report around 2026-10-29.

Does TT pay a dividend?

Yes. Its dividend yield is about 0.9%, and it has raised its dividend 4 years in a row.

How has TT performed against the S&P 500?

Over the past year TT returned +12.1%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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