Start with its own history
At 28.00×, TT is 16.5% above its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · TTIndustrial - MachineryUpdated Nov 5, 2026
Trane Technologies plc P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
28.00×
16.5% abovethe 10-year annual average
Share price410.48
÷Earnings per share14.66
Price and EPS in quote currency. Calculation details
Investors are paying 28.00 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 24.04×
3-year average29.86×3 positive annual observations
5-year average29.15×5 positive annual observations
10-year average24.04×10 positive annual observations
Peer median · TTM30.03×7 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 29.73× | -7.9% |
| Dec 31, 2024 | 32.29× | +17.2% |
| Dec 31, 2023 | 27.56× | +23.8% |
| Dec 31, 2022 | 22.26× | -34.3% |
| Dec 31, 2021 | 33.90× | -16.9% |
| Dec 31, 2020 | 40.78× | +130.9% |
| Dec 31, 2019 | 17.66× | +38.0% |
| Dec 31, 2018 | 12.80× | -3.5% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 13.25× | +29.8% |
| Dec 31, 2016 | 10.21× | -39.5% |
| Dec 31, 2015 | 16.89× | +21.5% |
| Dec 31, 2014 | 13.89× | -36.3% |
| Dec 31, 2013 | 21.82× | +102.3% |
| Dec 31, 2012 | 10.79× | -47.1% |
| Dec 31, 2011 | 20.38× | +10.5% |
| Dec 31, 2010 | 18.45× | -6.2% |
| Dec 31, 2009 | 19.67× | N/M |
| Dec 31, 2008 | N/M | N/M |
| Dec 31, 2007 | 2.64× | -71.9% |
| Dec 31, 2006 | 9.40× | -6.4% |
| Dec 31, 2005 | 10.04× | +13.4% |
| Dec 31, 2004 | 8.85× | -36.8% |
| Dec 31, 2003 | 14.01× | N/M |
| Dec 31, 2002 | N/M | N/M |
| Dec 31, 2001 | 21.63× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How TT compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 TT This stockTrane Technologies plc | 28.00× |
 CARRCarrier Global Corporation | N/M |
 LIILennox International Inc. | 16.60× |
 AAONAAON, Inc. | 30.03× |
 002050.SZZhejiang Sanhua Intelligent Controls Co.,Ltd | 37.23× |
 002837.SZShenzhen Envicool Technology Co., Ltd. | 95.73× |
 000811.SZMoon Environment Technology Co.,Ltd. | 31.82× |
 DNZOYDENSO Corporation | 11.76× |
 0300.HKMidea Group | 13.32× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does TT’s P/E tell you?
Compare like with like
The median of the 7 positive peer ratios above is 30.03×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take TT into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("TT", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 410.48 ÷ EPS 14.66 = 28.00×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
TT P/E ratio: common questions
The essentials behind the numbers.
Trane Technologies plc's current P/E is 28.00× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.