Trane Technologies plc
Auto Controls For Regulating Residential & Comml Environments
Trane Technologies manufactures and services commercial and residential HVAC systems and transportation refrigeration solutions under its prominent Trane, American Standard, and Thermo King brands. The company generates approximately 70% of sales from equipment and 30% from parts and services.
It is a $105B technology company. Revenue grew 7.0% over the last year, it keeps 13¢ of every dollar of sales as profit, and its net debt equals ~0.8 years of free cash flow. It trades at 35.6× earnings — in the most expensive third of its own history.
- Website
- tranetechnologies.com
- Location
- Co. Dublin, L2
- Employees
- 44 000
- Sector
- Technology
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong growth, profitability, quality and moat; Valuation lags behind.
Valuation44
- P/E vs own history82th pct · 0/25
- FCF yield3.4% · 12/25
- P/S4.7x · 20/25
- EV/EBITDA24.7x · 12/25
Growth90
- Revenue CAGR10.8% · 20/25
- Net income CAGR19.7% · 20/25
- EPS CAGR ~5Y27.8% · 25/25
- Fwd implied growth37.4% · 25/25
Profitability90
- ROIC27.1% · 25/25
- ROE34.6% · 25/25
- Net margin13.3% · 20/25
- Operating margin17.9% · 20/25
Health74
- Altman Z5.57 · 25/25
- Current ratio1.07 · 12/25
- Interest coverage16.8x · 25/25
- Net cash / debtD/A 13% · 12/25
Quality95
- Piotroski F8/9 · 25/25
- Beneish M-2.45 · 20/25
- FCF conversion120% · 25/25
- Margin stabilityσ 3.6% · 25/25
Moat81
- ROIC >12% years10/10 yrs · 25/25
- Median gross margin31.0% · 13/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 6.9% · 18/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$2.92B net income
- 2020MilestoneIngersoll Rand spun off its non-refrigeration businesses and was rebranded as Trane Technologies
- 2017MilestoneThe Asthma and Allergy Foundation of America and Allergy Standards Limited announced that the…
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $10B$13.5B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- Dec 17, 2007AcquisitionTrane announced it had agreed to be acquired by Ireland-based Ingersoll Rand in a cash and…
- Nov 28, 2007MilestoneAmerican Standard then renamed itself Trane Inc. effective November 28, 2007
- 1984AcquisitionTrane was acquired by the American Standard Companies
- 1982AcquisitionTrane purchased General Electric's Central Air Conditioning Division
- 1931ProductTrane's first air conditioning unit was developed in 1931
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Strong cash conversion — FCF is 16.0% of revenue
- Could repay net debt from ~0.9 years of free cash flow
- Interest covered 16.8× by operating earnings
- High returns on invested capital (ROIC 27.1%)
- Piotroski F-Score 8/9 — fundamentally strong checklist
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+7.0% YoY
- Profitable — makes more than it spends$2.95B TTM
- Profit growing — earnings are higher than last year+20.2% YoY
- Generates cash — cash left after running and investing$3.55B TTM
- Debt under control — could handle its obligations~0.8y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$105B market cap
- Not printing shares — share count not ballooning — you keep your slice+0.1% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 5.6 — safe
- Pays a dividend — returns cash to shareholdersyield 0.84%
- Valuation not extreme — price not wildly above earningsP/E 35.6
Peer comparisonTrane Technologies plc vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| TT this company | $105.0B | 35.6 | +7.0% | 13.3% | Solid |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: TT vs NVDA · TT vs AAPL · TT vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/TT
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of TT on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $476.98 · market cap $105B.