Trane Technologies (TT) stock
Industrials · Building Products
Trane Technologies (TT) is a Building Products company in the Industrials sector, headquartered in Dublin, Ireland. As of October 23, 2026, TT closed at $444.90, a market capitalization of $97.89 billion, the 120th largest company in the S&P 500. Over the last twelve months it generated $22.21 billion in revenue (+11% year over year) and $3.55 billion in free cash flow. The stock trades at 33.2x trailing earnings and 25.2x forward earnings.
- 1-year total return: +7.7% (dividends reinvested)
- 5-year return: +21.1% a year
- 52-week range: $348.06 – $505.87
- Gross margin 35.4%, operating margin 19.3%
- Dividend yield: 0.94%, 15 straight years of increases
- FI Handbook report card: B- across 10 metrics
- 13th largest of 83 Industrials stocks in the S&P 500
TT price chart
1Y price change: +7.0% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| TT | +1.8% | +15.1% | +7.7% | +34.5% | +21.1% | +26.1% | +14.3% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1980.
TT key statistics
- Market cap
- $97.9B
- #120 in S&P 500
- P/E (TTM)
- 33.2x
- Forward P/E
- 25.2x
- EPS (TTM)
- $13.42
- Revenue (TTM)
- $22.2B
- +11%
- Free cash flow
- $3.5B
- Gross margin
- 35.4%
- Operating margin
- 19.3%
- Return on equity
- 36.6%
- Dividend yield
- 0.94%
- 52-week range
- $348.06 – $505.87
- Beta
- 1.16
- Price / sales
- 4.4x
- EV / EBITDA
- 23.5x
- Debt / equity
- 0.53x
- Employees
- 44,000
TT report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth10.6%B
- Gross margin35.4%C
- Operating margin19.3%C
- FCF margin16.0%B
- Return on equity36.6%A
- Net debt / EBITDA0.8xB
- Forward P/E25.2xC
- PEG ratio1.5xC
- Shareholder yield2.5%C
- Share count change / yr-1.5%B
Trane Technologies financials
Revenue went from $13.5B in fiscal 2016 to $21.3B in fiscal 2025, growing 5.2% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.5B | $14.2B | $12.3B | $13.1B | $12.5B | $14.1B | $16.0B | $17.7B | $19.8B | $21.3B |
| Gross profit | $4.2B | $4.4B | $3.8B | $4.0B | $3.8B | — | — | — | — | — |
| Operating income | $1.6B | $1.7B | $1.5B | $1.7B | $1.5B | $2.0B | $2.4B | $2.9B | $3.5B | $4.0B |
| Net income | $1.5B | $1.3B | $1.3B | $1.4B | $854.9M | $1.4B | $1.8B | $2.0B | $2.6B | $2.9B |
| EPS (diluted) | $4.38 | $3.92 | $5.35 | $5.77 | $3.52 | $5.87 | $7.48 | $8.77 | $11.24 | $12.98 |
| Free cash flow | $1.3B | $1.3B | $1.1B | $1.7B | $1.3B | $1.4B | $1.2B | $2.1B | $2.8B | $2.8B |
| Buybacks | $250.1M | $1.0B | $900.2M | $750.1M | $250.0M | $1.1B | $1.2B | $669.3M | $1.3B | $1.5B |
| Dividends paid | $348.6M | $430.1M | $479.5M | $510.1M | $507.3M | $561.1M | $620.2M | $683.7M | $757.5M | $837.3M |
| Diluted shares | 337.3M | 332.7M | 250.1M | 244.4M | 243.1M | 242.3M | 234.9M | 230.7M | 228.4M | 224.9M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into TT?
A reverse DCF asks what growth the current price requires. With an enterprise value of $101.2B and $3.5B of trailing free cash flow, Trane Technologies needs to grow free cash flow about 19.6% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 16.9% a year over the last five years.
P/E ratio history
Current 34.3x vs. median 25.6x (10th–90th percentile 14.9x–40.2x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
TT dividend
- Dividend yield
- 0.94%
- Annual dividend
- $4.20
- Years of increases
- 15
- 5-yr dividend growth
- 5.9%
- per year
- Payout ratio
- 30%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
TT analyst price targets
23 analysts' average 12-month target is $529.12 (+19% vs. $444.90). Targets range from $422.00 to $575.00. 65% rate it a buy.
TT earnings
Next report: October 29, 2026. Trane Technologies has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $6.4B (+11% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 30, 2026 | $4.26 | $4.31 | +1.1% |
| Apr 30, 2026 | $2.53 | $2.63 | +3.9% |
| Jan 29, 2026 | $2.81 | $2.86 | +1.6% |
| Oct 30, 2025 | $3.78 | $3.88 | +2.7% |
| Jul 30, 2025 | $3.79 | $3.88 | +2.3% |
| Apr 30, 2025 | $2.20 | $2.45 | +11.3% |
| Jan 30, 2025 | $2.54 | $2.61 | +2.7% |
| Oct 30, 2024 | $3.24 | $3.37 | +4.0% |
Stocks like TT
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|---|---|---|---|---|---|
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TT news
- GEN or TT: Which Is the Better Value Stock Right Now? · Oct 23, 2026
- Trane Technologies (TT) Earnings Expected to Grow: What to Know Ahead of Next Week's Release · Oct 22, 2026
- Trane Technologies (TT) Outpaces Stock Market Gains: What You Should Know · Oct 21, 2026
- Trane Technologies to Acquire Cancoil, Strengthening Supply Chain Resiliency and Thermal Management Expertise · Oct 21, 2026
- 3 Big Reasons to Love Trane Technologies (TT) · Oct 19, 2026
TT stock FAQ
What is TT's market cap?
Trane Technologies's market capitalization is $97.89 billion as of October 23, 2026, ranking 120th in the S&P 500.
What is TT's P/E ratio?
TT trades at a trailing price-to-earnings ratio of 33.2x and a forward P/E of 25.2x. Its median P/E over the period we track is 25.6x.
Does TT pay a dividend?
Yes. Trane Technologies pays $4.20 per share a year, a 0.94% yield. It has raised its dividend 15 years in a row. Dividends grew 5.9% a year over the last five years.
How much has TT stock returned?
Including reinvested dividends, TT returned +7.7% over one year, +21.1% a year over five years, +26.1% a year over ten years through October 23, 2026.
Is TT stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Trane Technologies must grow free cash flow about 20% a year for the next decade. Its free cash flow grew 17% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the TT price target?
23 analysts cover TT with an average 12-month price target of $529.12, +19% from the current price. 65% of them rate it a buy.
When does TT report earnings?
Trane Technologies is expected to report earnings on October 29, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Trane Technologies have?
Trane Technologies has about 44,000 full-time employees, or $504,770 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology