Last 48 quarters of trend data · Industrials · Construction
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Trane Technologies plc's quarterly P/E stands at 39.8x, up 26.1% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 26.0% YoY to 27.5x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 37.24 | 39.77 | 36.86 | 27.91 | 28.11 | 31.55 | 34.71 | 28.67 | 24.92 | 39.50 | 27.84 | 18.65 | 18.75 |
| — | +26.1% | +6.2% | -2.7% | +12.8% | -20.1% | +24.7% | +53.7% | +32.9% | +14.2% | +25.2% | +20.5% | +24.7% | |
| P/S Ratio | 5.02 | 4.68 | 4.23 | 4.12 | 4.28 | 4.07 | 4.31 | 4.07 | 3.54 | 4.09 | 3.17 | 2.40 | 2.34 |
| — | +15.0% | -1.8% | +1.2% | +20.9% | -0.5% | +35.9% | +70.0% | +51.4% | +40.7% | +32.2% | +23.6% | +28.2% | |
| P/B Ratio | 12.57 | 10.80 | 10.12 | 11.34 | 12.53 | 10.15 | 11.21 | 11.64 | 10.80 | 9.97 | 7.99 | 6.96 | 7.00 |
| — | +6.4% | -9.8% | -2.5% | +16.1% | +1.8% | +40.3% | +67.1% | +54.3% | +42.1% | +25.2% | +20.6% | +31.5% | |
| P/FCF | 38.06 | 42.91 | 20.48 | 24.81 | 40.88 | 86.44 | 27.11 | 18.25 | 30.34 | 105.41 | 16.47 | 13.94 | 23.57 |
| — | -50.4% | -24.4% | +36.0% | +34.7% | -18.0% | +64.6% | +30.9% | +28.7% | — | +13.2% | -25.7% | +8.6% | |
| EV / EBITDA | 25.96 | 27.51 | 24.70 | 19.58 | 20.26 | 21.84 | 24.09 | 20.64 | 17.61 | 25.14 | 19.26 | 13.24 | 12.43 |
| — | +26.0% | +2.5% | -5.1% | +15.1% | -13.1% | +25.0% | +55.8% | +41.7% | +15.5% | +19.6% | +15.9% | +14.4% | |
| EV / EBIT | 27.69 | 31.09 | 28.20 | 21.39 | 22.22 | 24.72 | 26.88 | 22.41 | 19.47 | 29.95 | 22.22 | 14.83 | 14.62 |
| — | +25.8% | +4.9% | -4.6% | +14.2% | -17.5% | +20.9% | +51.2% | +33.2% | +14.7% | +20.5% | +13.6% | +20.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Trane Technologies plc's operating margin was 15.6% in Q1 2026, down 0.3 pp QoQ and down 1.8 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 18.0% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.2% | 34.8% | 34.1% | 36.9% | 37.6% | 35.8% | 35.1% | 36.3% | 36.5% | 34.6% | 33.3% | 34.0% | 33.7% |
| — | -2.8% | -2.9% | +1.7% | +3.1% | +3.3% | +5.5% | +6.9% | +8.3% | +11.0% | +11.1% | +3.6% | +6.6% | |
| Operating Margin | 18.6% | 15.6% | 15.9% | 20.3% | 20.3% | 17.5% | 16.6% | 18.8% | 19.5% | 15.0% | 15.5% | 17.7% | 18.8% |
| — | -10.6% | -3.9% | +7.8% | +4.0% | +16.2% | +6.6% | +6.4% | +3.5% | +20.7% | +9.1% | +4.6% | +11.0% | |
| Net Margin | 13.7% | 11.8% | 11.5% | 14.8% | 15.2% | 12.9% | 12.4% | 14.2% | 14.2% | 10.3% | 11.4% | 12.8% | 12.5% |
| — | -8.8% | -7.3% | +4.0% | +7.0% | +24.7% | +8.8% | +10.6% | +14.2% | +23.5% | +5.8% | +2.3% | +2.5% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 36.3% | 6.8% | 7.0% | 10.5% | 11.4% | 8.1% | 8.0% | 10.6% | 10.9% | 6.3% | 7.3% | 9.6% | 9.5% |
| — | -15.8% | -12.8% | -1.2% | +4.6% | +28.7% | +9.0% | +10.0% | +14.8% | +24.4% | +0.3% | +2.1% | +9.5% | |
| ROA | 14.0% | 2.6% | 2.8% | 4.0% | 4.3% | 3.0% | 2.9% | 3.8% | 3.8% | 2.3% | 2.6% | 3.3% | 3.2% |
| — | -11.9% | -6.1% | +6.5% | +11.4% | +33.4% | +11.8% | +13.4% | +19.9% | +32.0% | +7.4% | +7.1% | +10.5% | |
| ROIC | 26.2% | 4.9% | 5.3% | 7.4% | 7.6% | 5.6% | 5.5% | 6.7% | 7.0% | 4.4% | 4.8% | 6.1% | 6.4% |
| — | -11.3% | -3.8% | +10.1% | +8.6% | +26.6% | +13.2% | +10.6% | +9.3% | +27.9% | +7.7% | +5.2% | +13.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Trane Technologies plc's Debt/EBITDA ratio is 5.3x, up from 5.1x last quarter — elevated, raising questions about debt serviceability.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.54 | 0.54 | 0.54 | 0.55 | 0.59 | 0.63 | 0.64 | 0.69 | 0.76 | 0.71 | 0.68 | 0.72 | 0.80 |
| — | -15.6% | -15.8% | -20.1% | -22.3% | -10.1% | -6.5% | -3.6% | -5.3% | -11.2% | -13.8% | -12.9% | -5.0% | |
| Debt / EBITDA | 1.09 | 5.26 | 5.07 | 3.68 | 3.66 | 5.20 | 5.28 | 4.71 | 4.66 | 6.73 | 6.16 | 5.05 | 5.16 |
| — | +1.2% | -3.8% | -21.8% | -21.6% | -22.8% | -14.4% | -6.7% | -9.7% | -25.2% | -15.6% | -14.1% | -15.6% | |
| Current Ratio | 1.25 | 1.10 | 1.25 | 1.20 | 1.10 | 1.09 | 1.21 | 1.22 | 1.17 | 1.13 | 1.13 | 1.29 | 1.19 |
| — | +0.6% | +3.4% | -1.4% | -5.7% | -3.5% | +6.5% | -5.3% | -2.0% | -10.2% | +1.2% | +13.6% | +9.7% | |
| Quick Ratio | 0.92 | 0.77 | 0.92 | 0.84 | 0.76 | 0.74 | 0.88 | 0.92 | 0.84 | 0.74 | 0.78 | 0.87 | 0.77 |
| — | +3.6% | +3.6% | -7.8% | -9.5% | +0.3% | +13.5% | +5.2% | +8.2% | -4.4% | +1.1% | +10.9% | +2.6% | |
| Interest Coverage | 17.17 | 13.96 | 14.33 | 20.63 | 19.77 | 13.96 | 13.53 | 16.36 | 17.78 | 10.48 | 11.71 | 14.75 | 13.44 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying TT stock.
Trane Technologies plc's current P/E is 37.2x. The average P/E over the last 4 quarters is 33.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Trane Technologies plc's current operating margin is 18.6%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Trane Technologies plc's business trajectory between earnings reports.