Trane Technologies Plc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Trane Technologies Plc (TT) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Trane Technologies Plc vs Its Competitors
- TTM: Trailing 12-month revenue of 23,227M vs 170,247M combined for its competitors (12.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+16.4% annualized vs trailing 12 months), vs accelerating (+5.7%) for its tracked peer group.
- Growth: Trane Technologies Plc generated 17.7% revenue growth year over year in Q3 2026, vs 11.8% for its competitors combined.
- Profitability: Its 15.5% net margin compares with 12.2% for the peer group.
- Scale: Trane Technologies Plc ranks #2 of 37 companies by market capitalization in the Miscellaneous Manufacturing industry, holding 18.5% of industry market cap.
- Peer revenue share: Trane Technologies Plc accounted for 13.1% of combined revenue among its tracked peer group, up from 12.5% a year earlier.
- Peer differentiation: Revenue per employee of $0.53M compares with $0.56M for the peer group (0.9x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
TT Sales vs. its Competitors, Q3 2026
Trane Technologies Plc reported revenue growth of 17.71 % year on year in Q3 2026, above its competitors' combined revenue growth of 11.83 %.
With a net margin of 15.51 %, Trane Technologies Plc achieved higher profitability than its competitors (12.23 %).
Trane Technologies Plc generated 13.06 % of the combined sales of its peer group, up from 12.49 % a year earlier.
API endpoints for this dataset
Trane Technologies Plc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Trane Technologies Plc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Trane Technologies Plc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Trane Technologies Plc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Trane Technologies Plc's competitor groups requires a Commercial License.
For context: the Miscellaneous Manufacturing industry grew revenue 10.1% year over year, combined, vs 17.7% for Trane Technologies Plc. Trane Technologies Plc's share of combined industry revenue moved from 8.13% to 8.69%, a gain of 0.57 percentage points.
Trane Technologies Plc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Trane Technologies Plc | Yes | Yes | Yes | No |
| Competitors combined (35) | ||||
| High-Confidence Competitors (7) | ||||
| Similar-Size Competitors (6) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
TT Stock Performance relative to its Competitors
TT Stock Performance relative to High-Confidence Competitors
TT Stock Performance relative to Similar-Size Competitors
TT Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | The Manitowoc Company Inc | 282.9% | Outperformed |
| 2 | Trex Company Inc | 282.9% | Outperformed |
| 3 | Stanley Black and Decker Inc | 282.9% | Outperformed |
| 4 | National Presto Industries Inc | 282.9% | Outperformed |
| 5 | Emerson Electric Co | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Trane Technologies Plc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Trane Technologies Plc's Comment on Competition and Industry Peers
Publicly Traded Peers of Trane Technologies Plc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Trane Technologies Plc |
90,940.05 | 23,227.10 |
 General Electric Company |
346,090.86 | 52,575.00 |
 Danaher Corporation |
161,456.09 | 25,608.00 |
 Parker hannifin Corporation |
119,976.08 | 22,407.00 |
 Emerson Electric Co |
94,407.88 | 18,637.00 |
 Johnson Controls International Plc |
85,484.15 | 24,433.00 |
| SUBTOTAL | 1,198,169.49 | 721,584.75 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Trane Technologies Plc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Trane Technologies Plc's Competitors Named by the Company
Competitive relationships identified from Trane Technologies Plc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Johnson Controls International Plc | Company report | 85% |
| Airjoule Technologies Corporation | Company report | 85% |
| Lennox International Inc | Company report | 85% |
| Emcor Group Inc | Company report | 85% |
| XPDBU | Company report | 85% |
| Aura Systems Inc | Company report | 85% |
| Aaon Inc | Company report | 85% |
| Carrier Global Corporation | Company report | 85% |
| Core and Main Inc | Company report | 85% |
| Evoair Holdings Inc | Company report | 85% |
| Modine Manufacturing Co | Company report | 85% |
| Emerson Electric Co | Company report | 85% |
| General Electric Company | Company report | 85% |
| Hudson Technologies Inc | Company report | 85% |
| Parker hannifin Corporation | Company report | 85% |
| Federal Signal Corporation | Company report | 85% |
| Ameresco Inc | Company report | 85% |
| A O Smith Corporation | Company report | 85% |
Company report basis, confidence, active dates and source counts for Trane Technologies Plc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Trane Technologies Plc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| General Electric Company | Commercial Engines and Services, Reportable 73.25 % |
| Danaher Corporation | Diagnostics 43.97 % |
| Parker hannifin Corporation | Diversified Industrial 66.93 % |
| Emerson Electric Co | Safety and Productivity 11.33 % |
| Johnson Controls International Plc | Americas 66.79 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Trane Technologies Plc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Trane Technologies Plc | 90,940 | 527,889 | 72,055 |
| General Electric Company | 346,091 | 922,368 | 159,930 |
| Danaher Corporation | 161,456 | 426,800 | 72,183 |
| Parker hannifin Corporation | 119,976 | 374,386 | 62,239 |
| Emerson Electric Co | 94,408 | 255,301 | 35,329 |
| Johnson Controls International Plc | 85,484 | 108,591 | 16,342 |
| PEERS TOTAL | 1,107,229 | 557,834 | 97,848 |
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Trane Technologies Plc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Trane Technologies Plc | Americas 83.55 % |
| Danaher Corporation | North America 41.81 % |
| Parker hannifin Corporation | North America 67.21 % |
| Cummins Inc | United States 56.10 % |
| Emcor Group Inc | UNITED STATES 100.00 % |
| Dover Corp | United States 56.96 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Trane Technologies Plc's Position in Industry Market Structure
Market-capitalization share and concentration across all 34 companies in Trane Technologies Plc's industry classification, broader than the peer set above. Market cap in millions of $.Trane Technologies Plc ranks #2 of 34 companies by market capitalization in its industry, holding 18.49 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,541, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Abb Ltd | 151,750 | 31.39 % |
| 2 | Trane Technologies Plc | 89,392 | 18.49 % |
| 3 | Ferguson Enterprises Inc | 45,338 | 9.38 % |
| 4 | Xylem Inc | 23,144 | 4.79 % |
| 5 | Amcor Plc | 1,234 | 5.2% |
| 6 | Snap on Inc | 1,234 | 5.2% |
| 7 | Itt Inc | 1,234 | 5.2% |
| 8 | Stanley Black and Decker Inc | 1,234 | 5.2% |
| 9 | Idex Corp | 1,234 | 5.2% |
| 10 | Watsco Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Trane Technologies Plc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Trane Technologies Plc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Abb Ltd | 151,750 | 10.25 % |
| 2 | Trane Technologies Plc | 89,392 | -7.59 % |
| 3 | Ferguson Enterprises Inc | 45,338 | -5.78 % |
| 4 | Xylem Inc | 1,234 | 12.3% |
| 5 | Amcor Plc | 1,234 | 12.3% |
| 6 | Snap on Inc | 1,234 | 12.3% |
| 7 | Itt Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Trane Technologies Plc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Trane Technologies Plc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Miscellaneous Manufacturing industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (53 companies). See the full Miscellaneous Manufacturing industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 46.16 % | 25.62 % (avg) | +20.5 pp |
| Operating Margin | 17.92 % | industry median | +2.3 pp |
| EBITDA Margin | 14.56 % | 4.07 % (avg) | +10.5 pp |
| Capital Intensity (Capex / Revenue) | 1.59 % | 6.55 % (avg) | -5.0 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Trane Technologies Plc's Valuation vs Competitive Position
Valuation multiples vs the Miscellaneous Manufacturing industry average (53 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Miscellaneous Manufacturing industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 42.5x | 25.6x | +17.0x |
| EV / EBITDA | 31.3x | 15.9x | +15.4x |
| P/B | 11.6x | 3.0x | +8.7x |
| Return on Equity | 36.24 % | industry aggregate | 19.31 % |
| Return on Invested Capital | 16.76 % | 0.17 % (avg) | 16.59 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Trane Technologies Plc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 15.20 % | 1.49 % | - | 13.50 % | 13.12 % | 10.54 % | 12.22 % | 7.48 % |
| Operating Margin | 12.54 % | 12.16 % | 12.31 % | 14.31 % | 15.13 % | 16.37 % | 17.64 % | 18.61 % |
| Return on Invested Capital | 9.79 % | 8.89 % | 7.76 % | 10.08 % | 13.17 % | 14.56 % | 16.61 % | 17.23 % |
| P/E | 13.2x | 17.7x | 41.3x | 32.4x | 23.1x | - | 328.1x | 42.9x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Trane Technologies Plc's Strategic Group Map
Trane Technologies Plc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Trane Technologies Plc's trailing-12-month revenue growth of 10.3% and operating margin of 17.9% compares with an average of 7.9% growth and 17.4% margin across its 8 closest peers by combined growth, margin and ROIC -- Trane Technologies Plc sits above that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Trane Technologies Plc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Trane Technologies Plc falls in the Dog quadrant: relative market share of 0.59x vs its largest competitor, in an industry growing revenue 2.9% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Trane Technologies Plc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,541 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 1.59 % vs industry average 6.55 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Trane Technologies Plc's dedicated Suppliers and Customers pages, not here.
Trane Technologies Plc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Trane Technologies Plc falls in the Low attractiveness / High strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Trane Technologies Plc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Return on equity 19.3 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+16.4% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Trane Technologies Plc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Trane Technologies Plc | 0.06 | 1.13 | 0.52 |
| General Electric Company | - | 0.90 | 1.09 |
| Danaher Corporation | - | 1.75 | 0.45 |
| Parker hannifin Corporation | 0.08 | 1.11 | 0.73 |
| Emerson Electric Co | 0.05 | 0.88 | 0.65 |
| Johnson Controls International Plc | 0.05 | 0.96 | 0.70 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Trane Technologies Plc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Trane Technologies Plc | Q3 2026 | +17.7 % | +23.3 % |
| General Electric Company | Q3 2026 | +15.9 % | +6.2 % |
| Danaher Corporation | Q3 2026 | +8.3 % | +36.0 % |
| Parker hannifin Corporation | Q2 2026 | +17.9 % | +9.4 % |
| Emerson Electric Co | Q2 2026 | +7.0 % | +22.5 % |
| Johnson Controls International Plc | Q1 2026 | +8.2 % | +17.1 % |
| PEERS TOTAL | +10.8 % | +67.8 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Trane Technologies Plc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Trane Technologies Plc | Q3 2026 | +20.7 % | +58.0 % |
| General Electric Company | Q3 2026 | +450.6 % | +9.4 % |
| Danaher Corporation | Q3 2026 | +7.4 % | -12.7 % |
| Parker hannifin Corporation | Q2 2026 | +17.4 % | +22.5 % |
| Emerson Electric Co | Q2 2026 | +2.7 % | +9.7 % |
| Johnson Controls International Plc | Q1 2026 | +7.6 % | - |
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Trane Technologies Plc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Trane Technologies Plc | 13.79% | 19.71% | 36.24% |
| General Electric Company | 7.10% | 10.18% | 50.08% |
| Danaher Corporation | 4.91% | 5.57% | 8.18% |
| Parker hannifin Corporation | 11.12% | 14.01% | 24.66% |
| Emerson Electric Co | 6.13% | 8.71% | 12.69% |
| Johnson Controls International Plc | 9.33% | 15.77% | 26.03% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Trane Technologies Plc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Trane Technologies Plc | 38.00 | 3.92 |
| General Electric Company | 38.43 | 6.58 |
| Danaher Corporation | 37.45 | 6.30 |
| Parker hannifin Corporation | 32.26 | 5.35 |
| Emerson Electric Co | 36.82 | 5.07 |
| Johnson Controls International Plc | 25.27 | 3.50 |
| PEERS AVERAGE | 9.53 | 1.66 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.