HON vs. TT: Honeywell vs. Trane Technologies Stock Comparison

November 11, 2026

How do Honeywell (HON) and Trane Technologies (TT) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Honeywell (HON) and Trane Technologies (TT) both fall under the Capital Goods industry group, but HON is classified in Industrial Conglomerates while TT is classified in Building Products.

Company profile comparison for Honeywell (HON) and Trane Technologies (TT)
Profile Item	HON	TT
Name	Honeywell International Inc.	Trane Technologies plc
Country/Region	United States	Ireland
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Industrial Conglomerates	Building Products
GICS Sub-Industry	Industrial Conglomerates	Building Products
Market Capitalization	69.74 billion USD	87.94 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	January 2, 1962	March 17, 1980
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

HON

GSPC

Honeywell (HON) vs. Trane Technologies (TT), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Honeywell (HON) and Trane Technologies (TT). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

Calendar-year total returns for Honeywell (HON) and Trane Technologies (TT). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Honeywell (HON) and Trane Technologies (TT)
Metric	HON	TT
Total Return (1Y)	14.14%	-2.56%
Total Return (3Y, Annualized)	9.90%	25.06%
Total Return (5Y, Annualized)	2.32%	18.70%

Risk Profile

Drawdown History

HON

GSPC

Honeywell (HON) vs. Trane Technologies (TT), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…

Distribution of monthly total returns for Honeywell (HON) and Trane Technologies (TT). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Honeywell (HON) and Trane Technologies (TT)
Metric	HON	TT
Volatility (1Y, Annualized)	27.11%	30.26%
Beta (5Y)	0.80	1.18
Max Drawdown (5Y)	-25.21%	-39.76%
Avg. Volume (3M)	2.82M	1.24M

Risk-Adjusted Performance

Risk-Return Positioning

HON and TT are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Honeywell (HON) and Trane Technologies (TT)
Metric	HON	TT
Sharpe Ratio (1Y)	0.36	-0.23
Sortino Ratio (1Y)	0.52	-0.31

Profitability

ROE (TTM)

Both companies show strong equity returns, but Honeywell (HON) at 44.39% is the standout with ROE above its industry range; Trane Technologies (TT) at 36.94% also sits in the top quartile.

HON

Capital Goods industry group

44.39%

HON: 44.39%
Max: 40.55%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

TT

Capital Goods industry group

36.94%

Max: 40.55%
TT: 36.94%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Honeywell (HON) vs. Trane Technologies (TT): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both Honeywell (HON) at 18.68% and Trane Technologies (TT) at 13.56% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

HON

Capital Goods industry group

18.68%

Max: 27.47%
HON: 18.68%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

TT

Capital Goods industry group

13.56%

Max: 27.47%
TT: 13.56%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

Honeywell (HON) vs. Trane Technologies (TT): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Trane Technologies (TT) at 19.85% operates in the top operating margin quartile, ahead of Honeywell (HON) at 16.92%, which runs around its industry’s norm.

HON

Capital Goods industry group

16.92%

Max: 36.60%
Q3: 18.33%
HON: 16.92%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

TT

Capital Goods industry group

19.85%

Max: 36.60%
TT: 19.85%
Q3: 18.33%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

Honeywell (HON) vs. Trane Technologies (TT): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Honeywell (HON) and Trane Technologies (TT)
Metric	HON	TT
ROE (TTM)	44.39%	36.94%
ROA (TTM)	7.13%	11.42%
Net Margin (TTM)	18.68%	13.56%
Operating Margin (TTM)	16.92%	19.85%
Gross Margin (TTM)	37.21%	34.99%

Growth

Revenue Growth

Both Honeywell (HON) at 7.85% and Trane Technologies (TT) at 7.48% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Honeywell (HON) vs. Trane Technologies (TT): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Honeywell (HON) at -8.27% and Trane Technologies (TT) at 15.48% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Honeywell (HON) vs. Trane Technologies (TT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Honeywell (HON) and Trane Technologies (TT)
Metric	HON	TT
Revenue Growth (YoY)	7.85%	7.48%
Revenue Growth (3Y CAGR)	1.82%	10.06%
EPS Growth (YoY)	-8.27%	15.48%
EPS Growth (3Y CAGR)	3.20%	20.17%

Financial Strength

Current Ratio (MRQ)

Both Honeywell (HON) at 0.96 and Trane Technologies (TT) at 1.12 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

HON

Capital Goods industry group

0.96

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
HON: 0.96
Min: 0.36

TT

Capital Goods industry group

1.12

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
TT: 1.12
Min: 0.36

Honeywell (HON) vs. Trane Technologies (TT): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Both Honeywell (HON) at 0.76 and Trane Technologies (TT) at 0.46 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

HON

Capital Goods industry group

0.76

Max: 2.33
Q3: 1.12
HON: 0.76
Median: 0.60
Q1: 0.29
Min: 0.00

TT

Capital Goods industry group

0.46

Max: 2.33
Q3: 1.12
Median: 0.60
TT: 0.46
Q1: 0.29
Min: 0.00

Honeywell (HON) vs. Trane Technologies (TT): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Honeywell (HON) and Trane Technologies (TT)
Metric	HON	TT
Current Ratio (MRQ)	0.96	1.12
Debt / Equity (MRQ)	0.76	0.46
Net Debt / EBITDA	1.23	0.66

Dividends

Dividend Yield (TTM)

Trane Technologies (TT) at 1.04% pays an industry-typical yield; Honeywell (HON) at 3.63% is above its entire peer range — the higher number, but one that calls for a look at payout sustainability before treating it as an advantage.

HON

Capital Goods industry group

3.63%

HON: 3.63%
Max: 2.66%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

TT

Capital Goods industry group

1.04%

Max: 2.66%
Q3: 1.14%
TT: 1.04%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

Honeywell (HON) vs. Trane Technologies (TT): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Both Honeywell (HON) at 38.87% and Trane Technologies (TT) at 28.42% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

HON

Capital Goods industry group

38.87%

Max: 67.39%
HON: 38.87%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

TT

Capital Goods industry group

28.42%

Max: 67.39%
TT: 28.42%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

Honeywell (HON) vs. Trane Technologies (TT): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Honeywell (HON) and Trane Technologies (TT)
Metric	HON	TT
Dividend Yield (TTM)	3.63%	1.04%
Dividend Payout Ratio (TTM)	38.87%	28.42%

Valuation

P/E Ratio (TTM)

Honeywell (HON) at 10.91 sits in the cheaper P/E ratio quartile, while Trane Technologies (TT) at 27.92 is closer to its industry’s usual earnings multiple — a discount for HON, though growth and earnings durability still matter.

HON

Capital Goods industry group

10.91

Max: 59.38
Q3: 35.92
Median: 25.41
Q1: 19.47
HON: 10.91
Min: 3.03

TT

Capital Goods industry group

27.92

Max: 59.38
Q3: 35.92
TT: 27.92
Median: 25.41
Q1: 19.47
Min: 3.03

Honeywell (HON) vs. Trane Technologies (TT): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

Honeywell (HON) at 1.85 is priced about in line with its industry on P/S ratio, while Trane Technologies (TT) at 3.79 sits in the pricier quartile — TT costs more per dollar of sales.

HON

Capital Goods industry group

1.85

Max: 7.54
Q3: 3.76
Median: 2.15
HON: 1.85
Q1: 1.03
Min: 0.03

TT

Capital Goods industry group

3.79

Max: 7.54
TT: 3.79
Q3: 3.76
Median: 2.15
Q1: 1.03
Min: 0.03

Honeywell (HON) vs. Trane Technologies (TT): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

Honeywell (HON) at 3.12 is valued about in line with its industry on P/B ratio, while Trane Technologies (TT) at 9.66 carries an above-peer premium to book — TT is pricier on assets.

HON

Capital Goods industry group

3.12

Max: 9.66
Q3: 5.00
HON: 3.12
Median: 3.12
Q1: 1.81
Min: -1.08

TT

Capital Goods industry group

9.66

TT: 9.66
Max: 9.66
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

Honeywell (HON) vs. Trane Technologies (TT): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Honeywell (HON) and Trane Technologies (TT)
Metric	HON	TT
P/E Ratio (TTM)	10.91	27.92
P/S Ratio (TTM)	1.85	3.79
P/B Ratio (MRQ)	3.12	9.66
Free Cash Flow Yield (TTM)	10.07%	3.94%