TT vs. CARR

Last updated Apr 1, 2026

Compare and contrast key facts about Trane Technologies plc (TT) and Carrier Global Corporation (CARR).

Performance

TT vs. CARR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trane Technologies plc (TT) and Carrier Global Corporation (CARR). The values are adjusted to include any dividend payments, if applicable.

TT vs. CARR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TT Trane Technologies plc	7.33%	6.38%	52.97%	47.39%	-15.34%	41.02%	83.88%
CARR Carrier Global Corporation	7.02%	-21.57%	20.26%	41.47%	-22.68%	45.31%	124.99%

Fundamentals

Market Cap TT : $93.18B CARR : $47.68B
EPS TT : $13.01 CARR : $1.74
PE Ratio TT : 32.04 CARR : 32.33
PEG Ratio TT : 1.46 CARR : 0.48
PS Ratio TT : 4.39 CARR : 2.22
PB Ratio TT : 10.83 CARR : 3.45
Total Revenue (TTM) TT : $21.32B CARR : $21.75B
Gross Profit (TTM) TT : $7.71B CARR : $5.63B
EBITDA (TTM) TT : $4.21B CARR : $2.79B

Returns By Period

The year-to-date returns for both stocks are quite close, with TT having a 7.33% return and CARR slightly lower at 7.02%.

TT

• 1D: 3.17%
• 1M: -9.64%
• YTD: 7.33%
• 6M: -0.77%
• 1Y: 24.83%
• 3Y*: 32.81%
• 5Y*: 21.85%
• 10Y*: 22.93%

CARR

• 1D: 3.59%
• 1M: -12.56%
• YTD: 7.02%
• 6M: -4.91%
• 1Y: -9.63%
• 3Y*: 8.79%
• 5Y*: 7.57%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

TT vs. CARR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TT

TT Risk / Return Rank: 68
TT Sharpe Ratio Rank: 71
TT Sortino Ratio Rank: 65
TT Omega Ratio Rank: 65
TT Calmar Ratio Rank: 70
TT Martin Ratio Rank: 66

CARR

CARR Risk / Return Rank: 31
CARR Sharpe Ratio Rank: 30
CARR Sortino Ratio Rank: 27
CARR Omega Ratio Rank: 27
CARR Calmar Ratio Rank: 34
CARR Martin Ratio Rank: 36

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TT vs. CARR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trane Technologies plc (TT) and Carrier Global Corporation (CARR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TT	CARR	Difference
Sharpe ratio Return per unit of total volatility	0.85	-0.28	+1.12
Sortino ratio Return per unit of downside risk	1.36	-0.16	+1.52
Omega ratio Gain probability vs. loss probability	1.18	0.98	+0.20
Calmar ratio Return relative to maximum drawdown	1.34	-0.25	+1.59
Martin ratio Return relative to average drawdown	2.69	-0.42	+3.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TT vs. CARR - Sharpe Ratio Comparison

The current TT Sharpe Ratio is 0.85, which is higher than the CARR Sharpe Ratio of -0.28. The chart below compares the historical Sharpe Ratios of TT and CARR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TT	CARR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	-0.28	+1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.25	+0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.73	-0.26

Correlation

The correlation between TT and CARR is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TT vs. CARR - Dividend Comparison

TT's dividend yield for the trailing twelve months is around 0.93%, less than CARR's 2.02% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TT Trane Technologies plc	0.93%	0.97%	0.91%	1.23%	1.59%	1.17%	1.46%	1.59%	2.15%	1.91%	1.81%	2.10%
CARR Carrier Global Corporation	2.02%	1.70%	1.16%	1.30%	1.54%	0.94%	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

TT vs. CARR - Drawdown Comparison

The maximum TT drawdown since its inception was -77.91%, which is greater than CARR's maximum drawdown of -40.82%. Use the drawdown chart below to compare losses from any high point for TT and CARR.

Drawdown Indicators

	TT	CARR	Difference
Max Drawdown Largest peak-to-trough decline	-77.91%	-40.82%	-37.09%
Max Drawdown (1Y) Largest decline over 1 year	-19.97%	-37.38%	+17.41%
Max Drawdown (5Y) Largest decline over 5 years	-40.53%	-40.82%	+0.29%
Max Drawdown (10Y) Largest decline over 10 years	-51.13%	—	—
Current Drawdown Current decline from peak	-11.60%	-30.28%	+18.68%
Average Drawdown Average peak-to-trough decline	-14.88%	-13.99%	-0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.92%	22.44%	-12.52%

Volatility

TT vs. CARR - Volatility Comparison

The current volatility for Trane Technologies plc (TT) is 10.97%, while Carrier Global Corporation (CARR) has a volatility of 11.87%. This indicates that TT experiences smaller price fluctuations and is considered to be less risky than CARR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TT	CARR	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.97%	11.87%	-0.90%
Volatility (6M) Calculated over the trailing 6-month period	20.33%	22.42%	-2.09%
Volatility (1Y) Calculated over the trailing 1-year period	29.46%	34.94%	-5.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.00%	30.77%	-3.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.14%	33.04%	-4.90%

Financials

TT vs. CARR - Profitability Comparison

The chart below illustrates the profitability comparison between Trane Technologies plc and Carrier Global Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Trane Technologies plc reported a gross profit of 1.75B and revenue of 5.14B. Therefore, the gross margin over that period was 34.1%.

CARR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Carrier Global Corporation reported a gross profit of 961.00M and revenue of 4.84B. Therefore, the gross margin over that period was 19.9%.

TT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Trane Technologies plc reported an operating income of 819.00M and revenue of 5.14B, resulting in an operating margin of 15.9%.

CARR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Carrier Global Corporation reported an operating income of 101.00M and revenue of 4.84B, resulting in an operating margin of 2.1%.

TT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Trane Technologies plc reported a net income of 591.30M and revenue of 5.14B, resulting in a net margin of 11.5%.

CARR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Carrier Global Corporation reported a net income of 62.00M and revenue of 4.84B, resulting in a net margin of 1.3%.