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TT

Trane Technologies plc

US$458.94+1.54% (US$6.96)
Day's range
US$445.00 – US$459.33
Day's volume
US$244.9m
52-week range
US$373.79 – US$502.27

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TT in numbers

Market cap
US$100.8bn
P/E
34.24
P/B
11.71
Dividend yield (12m)
0.89%
Net debt/EBITDA
0.90

The 12-month dividend yield of TT is 0.89%, below its 5-year average of 1.17%.

TT price history

02/10/202501/10/2026
Compare with

TT risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+3.11%+148.17%+169.75%
Volatility (annualised)31.58%27.25%27.89%
Largest drawdown-13.25%-18.66%-35.12%
Positive months5/1223/3635/60

How much did investing in TT return?

US$1,000.00 invested on 01/10/2021 would be worth US$2,694.96 today.

Value today in TT
US$2,694.96
Return over the period
+169.50%
Return per year
+21.93%
In the S&P 500
US$1,664.67

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

TT fundamentals

Valuation

  • P/E
    34.24
  • P/B
    11.71
  • EV/EBITDA
    23.94
  • EV/EBIT
    26.28
  • EV/Revenue
    4.72
  • P/EBIT
    25.30
  • P/S
    4.54
  • P/OCF
    26.00
  • P/FCF
    —
  • Earnings yield
    3.80%
  • PEG ratio
    —
  • Earnings per share
    US$13.40
  • Book value per share
    US$39.19

Debt

  • Net debt
    US$3.9bn
  • Net debt/EBITDA
    0.90
  • Net debt/Equity
    0.46
  • Debt/Equity
    0.46
  • Current ratio
    1.07
  • Quick ratio
    0.76
  • Cash ratio
    —

Efficiency

  • Gross margin
    —
  • EBITDA margin
    19.70%
  • Operating margin
    17.94%
  • Net margin
    13.28%
  • Asset turnover
    0.93

Profitability

  • ROE
    34.20%
  • ROA
    12.33%
  • ROIC
    20.96%
  • Payout
    30.52%

Growth

  • Revenue CAGR (5 years)
    10.43%
  • Earnings CAGR (5 years)
    17.00%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is TT's fair price?

Two classic value formulas, with today's numbers. The current price is US$458.94.

Graham's fair price
US$108.71
76.31% below the price

√(22.50 × US$13.40 × US$39.19)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$50.53
88.99% below the price

US$3.03 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

TT indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E29.5132.2627.3621.9233.1540.4822.4616.52
P/B10.0411.117.926.327.545.404.363.15
EV/EBITDA20.3322.0617.9714.9821.3219.6017.0913.32
Dividend yield0.97%0.91%1.23%1.59%1.17%1.46%1.59%2.15%
Earnings per shareUS$13.19US$11.45US$8.91US$7.67US$6.09US$3.59US$5.92US$5.52
Book value per shareUS$38.76US$33.25US$30.81US$26.58US$26.79US$26.87US$30.48US$29.00
ROE34.02%34.43%28.93%28.85%22.75%13.34%19.41%19.05%
ROIC29.86%27.71%23.61%23.11%19.17%15.49%12.69%12.44%
Gross margin—————30.54%30.52%30.47%
EBITDA margin20.37%19.56%18.34%17.15%16.43%14.67%15.81%15.18%
Net margin13.69%12.94%11.45%10.98%10.07%6.86%10.79%10.84%
Net debt/EBITDA0.500.700.890.941.000.661.761.53

TT financial statements

Line202520242023202220212020
Net revenueUS$21.3bnUS$19.8bnUS$17.7bnUS$16bnUS$14.1bnUS$12.5bn
Cost of sales—————-US$8.7bn
Gross profit—————US$3.8bn
EBITDAUS$4.3bnUS$3.9bnUS$3.2bnUS$2.7bnUS$2.3bnUS$1.8bn
EBITUS$4bnUS$3.5bnUS$2.9bnUS$2.4bnUS$2bnUS$1.5bn
Net finance result-US$62.1m-US$19.9m-US$92.2m-US$23.3mUS$1.1mUS$4.1m
Profit before taxUS$3.7bnUS$3.2bnUS$2.6bnUS$2.2bnUS$1.8bnUS$1.3bn
Income tax-US$705.9m-US$627.6m-US$498.4m-US$375.9m-US$333.5m-US$296.8m
Net incomeUS$2.9bnUS$2.6bnUS$2bnUS$1.8bnUS$1.4bnUS$854.9m

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does TT pay dividends?

Dividend yield per year

  • 1.91%2017
  • 2.15%2018
  • 1.59%2019
  • 1.46%2020
  • 1.17%2021
  • 1.59%2022
  • 1.23%2023
  • 0.91%2024
  • 0.97%2025
  • 0.69%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend03/09/202630/09/2026US$1.05
Dividend04/06/202630/06/2026US$1.05
Dividend05/03/202631/03/2026US$1.05
Dividend04/12/202531/12/2025US$0.94
Dividend04/09/202530/09/2025US$0.94
Dividend05/06/202530/06/2025US$0.94
Dividend06/03/202531/03/2025US$0.94
Dividend05/12/202431/12/2024US$0.84
Dividend05/09/202430/09/2024US$0.84
Dividend06/06/202428/06/2024US$0.84
Dividend28/02/202429/03/2024US$0.84
Dividend29/11/202329/12/2023US$0.75
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend30/08/202329/09/2023US$0.75
Dividend31/05/202330/06/2023US$0.75
Dividend01/03/202331/03/2023US$0.75
Dividend30/11/202230/12/2022US$0.67
Dividend31/08/202230/09/2022US$0.67
Dividend01/06/202230/06/2022US$0.67
Dividend02/03/202231/03/2022US$0.67
Dividend01/12/202131/12/2021US$0.59
Dividend01/09/202130/09/2021US$0.59
Dividend02/06/202130/06/2021US$0.59
Dividend03/03/202131/03/2021US$0.59
Dividend02/12/202031/12/2020US$0.53
Dividend02/09/202030/09/2020US$0.53
Dividend03/06/202030/06/2020US$0.53
Dividend11/03/202031/03/2020US$0.53
Dividend04/12/201931/12/2019US$0.41
Dividend04/09/201930/09/2019US$0.41
Dividend05/06/201928/06/2019US$0.41
Dividend06/03/201929/03/2019US$0.41
Dividend05/12/201831/12/2018US$0.41
Dividend05/09/201828/09/2018US$0.41
Dividend06/06/201829/06/2018US$0.35
Dividend07/03/201830/03/2018US$0.35
Dividend06/12/201729/12/2017US$0.35
Dividend06/09/201729/09/2017US$0.35
Dividend06/06/201730/06/2017US$0.31
Dividend07/03/201731/03/2017US$0.31
Dividend06/12/201630/12/2016US$0.31

About Trane Technologies

Sector
Manufacturing

Questions about TT

How much is TT today?

TT is at US$458.94 (1.54% on the day), last traded on 01/10/2026.

How much did TT pay in dividends in 2025?

TT paid US$3.76 per share in 2025, a dividend yield of 0.97%.

What are the P/E and P/B of TT?

TT trades at a P/E of 34.24 and a P/B of 11.71.

How much did TT return in 12 months?

TT returned 3.11% in 12 months, with annualised volatility of 31.58% and a largest drawdown of -13.25%.