Trane Technologies plc (TT)

Trane Technologies plc designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, and custom and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps; chillers; coils and condensers; auxiliary power, cold storage, and condensing units; controls contracting and commissioning, decarbonization programs, and gensets; dehumidifiers; energy and water efficiency programs; energy recovery ventilators and power solutions; energy storage; furnaces; home automation; humidifiers; HVAC performance-monitoring products; and indoor air quality assessments and related products for HVAC and transport solutions. The company also provides asset management, building management, bus air purification, bus and rail HVAC, container refrigeration, control, ductless, geothermal, data center and multi-pipe HVAC, package heating and cooling, rail refrigeration, residential air filtration, self and vehicle powered truck refrigeration, temporary heating and cooling, truck refrigeration, unitary, variable refrigerant flow, and trailer refrigeration systems. In addition, it offers industrial process refrigeration, installation contracting, lighting retrofit, medical grade refrigeration, refrigerant reclamation, renewable energy and storage, residential hybrid heating, telematics, thermostats/controls and associated digital, ventilation, and stationary cold storage solutions; packaged rooftop units; rate chambers; residential air filters; thermal energy storage; transport heater products; temperature freezers; energy infrastructure programs and management, repair and maintenance, smart and AI-enabled, and rental services; water source heat pumps; and aftermarket and OEM parts and supplies. The company was formerly known as Ingersoll-Rand Plc and changed its name to Trane Technologies plc in March 2020. The company was founded in 1885 and is headquartered in Swords, Ireland.

Symbol
TT
Exchange
NYSE
Sector
Industrials
Industry
Building Products & Equipment
Market cap
$102.52B
52 week range
348.06 - 505.87

Valuation

Share price
$463.91 (close of 2026-10-02)
P/E (TTM)
34.88x
Price to book
11.86x
Price to free cash flow
28.91x
Enterprise value
$107.14B
Book value per share
$39.12

Price performance

PeriodChange
1 day+1.08%
5 days+2.08%
1 month+5.67%
3 months-2.97%
6 months+8.63%
Year to date+19.20%
1 year+9.53%
3 years+134.18%
5 years+165.49%
10 years+780.12%
All time+20703.14%

Members of Congress who disclosed TT trades

Josh Gottheimer · Jefferson Shreve · Val Hoyle · Alan Armstrong

Super investors holding TT

Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates) · Mairs & Power (Mairs & Power Inc)

Profitability and growth

Return on equity
33.93%
Return on invested capital
28.48%
Return on assets
13.63%
Return on capital employed
26.22%
Gross margin
37.79%
Net margin
13.69%
EBITDA margin
20.37%
Revenue growth
7.48%
Net income growth
13.66%
Free cash flow growth
1.32%

Cash flow and balance sheet

Free cash flow yield (TTM)
3.46%
Current ratio
1.07x
Net debt to EBITDA
1.06x

Latest reported year

Period end
2025-12-31
Fiscal year
2025
Revenue
$21.32B
Cost of revenue
$13.26B
Gross profit
$8.06B
EBITDA
$4.34B
Net income
$2.92B
Earnings per share
$13.09
Research and development
$347.60M
Interest expense
$226.70M
Shares outstanding
223.00M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$21.32B$8.06B$2.92B$13.09
2024-12-31$19.84B$7.39B$2.57B$11.35
2023-12-31$17.68B$6.11B$2.02B$8.85
2022-12-31$15.99B$5.18B$1.76B$7.55
2021-12-31$14.14B$4.66B$1.42B$5.96
2020-12-31$12.45B$3.80B$854.90M$3.56
2019-12-31$13.08B$3.99B$1.41B$5.84
2018-12-31$12.34B$3.76B$1.34B$5.41
2017-12-31$14.20B$4.39B$1.30B$5.11
2016-12-31$13.51B$4.20B$1.48B$5.70

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3137.79%13.69%33.93%28.48%
2024-12-3137.25%12.94%34.30%26.93%
2023-12-3134.56%11.45%28.84%22.39%
2022-12-3132.37%10.98%28.77%21.02%
2021-12-3132.99%10.07%22.69%18.87%
2020-12-3130.54%6.86%13.30%14.70%
2019-12-3130.52%10.79%19.29%11.76%
2018-12-3130.47%10.84%18.93%11.83%
2017-12-3130.89%9.17%18.07%16.26%
2016-12-3131.10%10.93%21.97%14.57%

Cash and debt by year

Period endCashDebt
2025-12-31$1.76B$3.92B
2024-12-31$1.59B$4.32B
2023-12-31$1.10B$3.98B
2022-12-31$1.22B$3.79B
2021-12-31$2.16B$4.49B
2020-12-31$3.29B$4.50B
2019-12-31$1.28B$4.92B
2018-12-31$878.40M$3.74B
2017-12-31$1.52B$2.96B
2016-12-31$1.71B$3.71B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$2.81B$86.60M
2024-12-31$2.77B$82.90M
2023-12-31$2.09B$64.30M
2022-12-31$1.21B$56.30M
2021-12-31$1.37B$66.50M
2020-12-31$1.29B$69.50M
2019-12-31$1.71B$66.40M
2018-12-31$1.12B$78.80M
2017-12-31$1.30B$70.80M
2016-12-31$1.34B$69.60M

Dividend history

Most recent payment
2026-09-04
Paid in the last twelve months
$3.15
Payment dateDividend per share
2026-09-04$1.05
2026-06-05$1.05
2026-03-06$1.05
2025-09-05$0.94
2025-06-06$0.94
2025-03-07$0.94
2024-12-06$0.84
2024-09-06$0.84

Investor relations

Next earnings report

Next confirmed report
2026-10-29
Consensus EPS estimate
$4.74

Past earnings dates

ReportedFiscal periodEPS estimate
2026-07-30Jun/2026$4.27
2026-04-30Mar/2026$2.53
2026-01-29Dec/2025$2.82
2025-10-30Sep/2025$3.80
2025-07-30Jun/2025$3.76
2025-04-30Mar/2025$2.20
2025-01-30Dec/2024$2.54
2024-10-30Sep/2024$3.23

Filings and sources

Company website
tranetechnologies.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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