Trane Technologies plc TT SPX

Industrials · Building Products & Equipment · Ireland

https://www.tranetechnologies.com

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.

Market & Price

Market Cap

$99.76B

Current Price

$451.30

High / Low (52W)

$492.54 / $375.52

Beta

1.26

Valuation

Stock P/E

34.48

Industry PE

28.38

Forward P/E

26.51

PEG Ratio

1.92

Book Value

$38.74

Price to Book

11.65

P/S

4.62

EV/EBITDA

24.41

Dividend Yield

0.93%

Profitability & Returns

ROCE

25.80%

ROE

36.63%

ROA

11.34%

Profit Margin

13.41%

Op Margin

15.52%

EPS (Latest Qtr)

$2.62

EPS (TTM)

$13.09

Balance Sheet & Liquidity

Debt/Equity

0.54

Quick Ratio

0.73

Current Ratio

1.09

Debt

$4.62B

Total Assets

$21.42B

Current Assets

$7.86B

Working Capital

$1.58B

Ownership

Promoter Holding

0.27%

Chg in Prom Hold

FII / Inst Holding

91.61%

Chg in FII Hold

-0.00%

Financial Snapshot

Enterprise Value

$103.33B

Total Revenue (TTM)

$21.60B

EBITDA

$4.23B

Free Cash Flow

$2.66B

Operating Cash Flow

$3.48B

Shares Outstanding

221.06M

Gross Margin

35.92%

Payout Ratio

29.56%

Growth (CAGR)

Revenue 5Y

10.06%

Profit 5Y

18.44%

Revenue (YoY)

6.00%

Earnings (YoY)

-2.10%

PROS

Strong return on equity of 36.6%.
Healthy ROCE of 25.8%.
Compounding revenue at 10.1% over 5 years.
Profit CAGR of 18.4% over 5 years.
Generates positive free cash flow.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	TT Trane Technologies plc SPX	451.30	34.48	$99.76B	0.93%	25.80%	36.63%	10.06%	18.44%
2	CAT Caterpillar Inc. SPX	875.87	43.66	$403.42B	0.69%	19.42%	51.33%	4.38%	9.83%
3	GE GE Aerospace SPX	323.76	40.17	$338.27B	0.58%	11.89%	45.43%	16.32%	195.89%
4	GEV GE Vernova Inc. SPXAI	968.32	28.33	$260.21B	0.21%	6.30%	75.71%	8.68%	92.84%
5	RTX RTX Corporation SPX	179.66	33.64	$241.95B	1.54%	9.41%	11.57%	9.72%	9.01%
6	UNP Union Pacific Corporation SPX	262.64	21.60	$155.93B	2.10%	16.19%	40.69%	-0.49%	0.66%
7	ETN Eaton Corporation plc SPXAI	400.60	39.20	$155.55B	1.10%	16.23%	20.84%	9.77%	18.41%
8	HON Honeywell International Inc. NDXSPX	237.86	38.00	$150.72B	2.00%	13.57%	24.26%	1.82%	-1.62%
9	DE Deere & Company SPX	542.18	30.67	$146.45B	1.20%	12.82%	18.35%	-4.50%	-11.00%

Quarterly Results

Figures in USD.

Metric	Sep 2013	Mar 2014	Jun 2014	Sep 2014	Mar 2015	Jun 2015	Sep 2015	Mar 2016	Jun 2016	Sep 2016	Mar 2017	Jun 2017	Sep 2017	Mar 2018	Jun 2018	Sep 2018	Mar 2019	Jun 2019	Sep 2019	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	3.38B	4.36B	4.03B	2.80B	3.62B	3.47B	2.64B	3.14B	3.50B	3.02B	3.83B	3.72B	3.36B	4.19B	4.37B	3.67B	4.70B	4.88B	4.22B	5.31B	5.44B	-	4.69B	5.75B	5.74B	5.14B	4.97B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.01B	3.59B	3.62B	3.39B	3.24B
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.68B	2.16B	2.12B	1.75B	1.73B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	858.60M	996.40M	952.90M	934.90M	952.00M
Operating Income	379.50M	155.00M	463.30M	440.00M	171.10M	452.20M	475.40M	225.40M	513.30M	511.70M	215.00M	557.60M	506.10M	243.40M	640.30M	587.00M	236.50M	566.90M	536.50M	154.40M	423.50M	566.90M	353.20M	651.00M	583.40M	388.20M	710.60M	739.50M	456.80M	885.40M	864.20M	633.80M	1.03B	1.02B	-	818.90M	1.16B	1.17B	819.00M	776.10M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	910.10M	1.25B	1.24B	887.70M	892.50M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	58.10M	58.20M	55.60M	55.60M	55.60M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	752.90M	1.09B	1.09B	741.30M	735.80M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	134.90M	216.70M	231.50M	122.80M	136.30M
Net Income	165.90M	79.00M	306.00M	291.30M	51.30M	78.90M	300.90M	152.40M	747.60M	377.40M	117.10M	358.60M	367.00M	120.40M	448.10M	515.10M	199.90M	456.10M	458.80M	-29.20M	238.80M	400.60M	235.20M	464.70M	405.70M	260.20M	509.30M	547.90M	307.10M	586.20M	626.30M	436.30M	755.30M	772.00M	-	604.90M	874.80M	847.60M	591.30M	584.40M
Diluted EPS	0.56	0.28	1.12	1.07	0.19	0.29	1.12	0.58	2.86	1.44	0.45	1.38	1.43	0.48	1.79	2.06	0.82	1.86	1.88	-0.12	0.99	1.64	0.97	1.91	1.68	1.10	2.16	2.34	1.33	2.55	2.72	1.90	3.30	3.39	-	2.67	3.89	3.78	2.64	2.62

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	-	-	13.51B	14.20B	12.34B	13.08B	12.45B	14.14B	15.99B	17.68B	19.84B	21.32B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11.03B	11.82B	12.76B	13.61B
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4.96B	5.86B	7.08B	7.71B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.55B	2.96B	3.58B	3.74B
Operating Income	1.06B	-2.52B	885.20M	1.26B	438.70M	1.07B	1.10B	1.40B	1.49B	1.60B	1.67B	1.51B	1.67B	1.53B	2.02B	2.42B	2.89B	3.50B	3.97B
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.72B	3.15B	3.86B	4.28B
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	223.50M	234.50M	238.40M	226.70M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.17B	2.57B	3.24B	3.68B
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	375.90M	498.40M	627.60M	705.90M
Net Income	3.97B	-2.62B	451.30M	642.20M	343.20M	1.02B	618.80M	931.70M	664.60M	1.48B	1.30B	1.34B	1.41B	854.90M	1.42B	1.76B	2.02B	2.57B	2.92B
Diluted EPS	13.43	-8.73	1.37	1.89	1.01	3.28	2.07	3.40	2.48	5.65	5.05	5.35	5.77	3.52	5.87	7.48	8.77	11.24	12.98
R&D Expense	-	201.10M	255.00M	244.00M	218.40M	235.40M	218.20M	212.30M	205.90M	207.90M	210.80M	166.70M	174.20M	165.00M	193.50M	211.20M	252.30M	309.60M	347.60M

Compounded Sales Growth

5 Years:	10.06%
1 Year:	6.00%

Compounded Profit Growth

5 Years:	18.44%
1 Year:	-2.10%

Stock Price Performance

1 Year:	+5.61%
6 Months:	+8.02%
3 Months:	-2.15%
1 Month:	-5.86%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2006	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	20.92B	19.99B	19.99B	18.84B	18.48B	17.66B	17.30B	16.72B	17.40B	18.17B	17.91B	20.49B	18.16B	-	18.08B	19.39B	20.15B	21.42B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6.38B	6.87B	7.34B	7.86B
Cash & Equivalents	355.80M	4.74B	550.20M	840.60M	840.60M	987.00M	708.40M	1.94B	1.71B	736.80M	1.71B	1.52B	878.40M	1.28B	3.29B	-	1.22B	1.10B	1.59B	1.76B
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.99B	2.15B	1.97B	2.10B
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.78B	2.96B	3.09B	3.24B
Total Liabilities	-	-	14.16B	12.79B	11.92B	11.83B	11.25B	10.53B	11.25B	10.84B	10.68B	10.97B	10.85B	13.18B	11.73B	-	11.98B	12.37B	12.66B	12.82B
Current Liabilities	-	-	5.51B	4.30B	4.29B	4.13B	4.33B	3.41B	3.67B	3.65B	3.59B	4.83B	4.32B	5.24B	4.34B	-	5.69B	6.05B	6.07B	6.29B
Long Term Debt	-	-	2.77B	2.90B	2.92B	2.88B	2.27B	3.15B	3.74B	3.71B	3.71B	2.96B	3.74B	4.92B	4.50B	-	3.79B	3.98B	4.32B	3.92B
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4.84B	4.78B	4.77B	4.62B
Total Equity	-	-	6.66B	7.07B	7.96B	6.92B	7.15B	7.07B	5.99B	5.82B	6.64B	7.14B	7.02B	7.27B	6.41B	-	6.09B	7.00B	7.46B	8.58B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	253.33M	251.67M	248.97M	244.97M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-	-	-	695.40M	1.19B	1.20B	1.09B	973.20M	888.40M	1.52B	1.52B	1.41B	1.92B	1.44B	-	1.50B	2.39B	3.15B	3.19B
Investing Cash Flow	-	-	-	-178.60M	207.50M	-146.50M	-215.40M	-197.00M	-1.19B	240.10M	-374.70M	-629.40M	-1.78B	-376.20M	-	-540.40M	-1.17B	-562.90M	-640.00M
Financing Cash Flow	-	-	-	-	-1.25B	-1.30B	346.60M	-859.50M	-527.60M	-726.90M	-1.43B	-1.38B	270.50M	884.30M	-	-1.85B	-1.35B	-2.02B	-2.50B
Capital Expenditure	-119.70M	-305.00M	-204.10M	-179.50M	-217.10M	-243.10M	-242.20M	-233.50M	-249.60M	-182.70M	-221.30M	-284.70M	-205.40M	-146.20M	-	-291.80M	-300.70M	-370.60M	-383.00M
Free Cash Flow	-	-	-	515.90M	969.70M	952.30M	849.30M	739.70M	638.80M	1.34B	1.30B	1.12B	1.71B	1.29B	-	1.21B	2.09B	2.77B	2.81B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-888.60M	-132.90M	562.10M	58.70M
Share Buybacks	2.00B	-2.00M	0	0	1.16B	839.80M	1.21B	1.37B	250.10M	250.10M	1.02B	900.20M	750.10M	250.00M	1.10B	1.20B	669.30M	1.28B	1.48B

Ratios (Annual)

Figures in %.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	31.0%	33.1%	35.7%	36.2%
Operating Margin %	-	-	-	-	-	-	-	-	-	11.9%	11.7%	12.2%	12.8%	12.3%	14.3%	15.1%	16.4%	17.6%	18.6%
Net Margin %	-	-	-	-	-	-	-	-	-	10.9%	9.2%	10.8%	10.8%	6.9%	10.1%	11.0%	11.4%	12.9%	13.7%
ROE %	-	-39.4%	6.4%	8.1%	5.0%	14.3%	8.8%	15.6%	11.4%	22.2%	18.2%	19.0%	19.4%	13.3%	-	28.8%	28.9%	34.4%	34.0%
ROCE %	-	-16.4%	5.6%	8.0%	3.0%	7.6%	7.8%	10.3%	11.4%	11.6%	12.5%	11.1%	10.9%	11.1%	-	19.5%	21.7%	24.9%	26.2%

Shareholding Pattern

Insiders

0.27%

Institutions

91.61%

Public Float

91.85%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	9.79%	21.64M	$9.77B
2	JPMORGAN CHASE & CO	7.57%	16.74M	$7.55B
3	Vanguard Capital Management LLC	6.51%	14.38M	$6.49B
4	State Street Corporation	4.57%	10.10M	$4.56B
5	FMR, LLC	4.46%	9.87M	$4.45B
6	Morgan Stanley	2.40%	5.30M	$2.39B
7	Geode Capital Management, LLC	2.35%	5.19M	$2.34B
8	Vanguard Portfolio Management LLC	1.60%	3.53M	$1.59B
9	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	1.28%	2.82M	$1.27B
10	Nuveen, LLC	1.27%	2.81M	$1.27B

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