Trane Technologies (TT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Trane Technologies

NYSE•Industrials•Building Products & Equipment

$423.33+1.65(<0.01%)After hours

Market Cap

$93.70B

P/E

31.8x

P/S

4.2x

P/B

10.8x

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.

How this company scores

ExcellentMetricSide Score: 84/100

Strongest: Cash & Earnings Quality (25/25); weakest: Growth (17/25).

Profitability22/25

Growth17/25

Balance Sheet & Red Flags20/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowStrong marginsHigh ROELow leverage

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 31.8x5y range 20.4x – 35.6x

Currently near its 20-quarter median.

P/S · 4.2x5y range 2.1x – 4.7x

Currently near its 20-quarter median.

P/B · 10.8x5y range 5.3x – 12.4x

Price & Volume

Market Cap $93.70B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $22.21B
Q. Revenue: $6.35B
TTM EBITDA: $4.19B
TTM Op. Income: $3.98B
Q. Op. Income: $1.22B
TTM Net Income: $2.95B
Q. Net Income: $925.70M
EPS: $4.19
Shares Out.: $221.00M

$22.21B in TTM revenue grew 7.0% YoY, reaching $6.35B last quarter. TTM EBITDA of $4.19B and TTM operating income of $3.98B show growth is flowing through to the bottom line. TTM net income of $2.95B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 35.6%
EBITDA Margin: 19.3%
Op. Margin: 19.3%
Net Margin: 14.6%

Op. margin of 19.3% is down 1.0% YoY — costs are rising relative to revenue. Net margin at 14.6% and gross margin of 35.6% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 5% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 31.8x
P/S Ratio: 4.2x
P/B Ratio: 10.8x

At 31.8x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 4.2x and P/B of 10.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $23.93B
Cash: N/A
Long-Term Debt: $3.92B
Book Value: $8.65B
D/E Ratio: 0.5
Debt/EBITDA: 3.2

With $23.93B in assets and $3.92B in long-term debt, D/E is 0.5and book value is $8.65B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 6 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.10B
TTM Free Cash Flow: $3.58B
FCF Margin: 16.1%
FCF / Net Income: 1.2

TTM FCF of $3.58B on $1.10B in operating cash flow. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.