NOC vs. TT: Northrop Grumman vs. Trane Technologies Stock Comparison

November 11, 2026

How do Northrop Grumman (NOC) 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

Northrop Grumman (NOC) and Trane Technologies (TT) both fall under the Capital Goods industry group, but NOC is classified in Aerospace & Defense while TT is classified in Building Products.

Company profile comparison for Northrop Grumman (NOC) and Trane Technologies (TT)
Profile Item	NOC	TT
Name	Northrop Grumman Corporation	Trane Technologies plc
Country/Region	United States	Ireland
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Aerospace & Defense	Building Products
GICS Sub-Industry	Aerospace & Defense	Building Products
Market Capitalization	74.59 billion USD	87.94 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	December 31, 1981	March 17, 1980
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

NOC

GSPC

Northrop Grumman (NOC) 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

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Trailing total returns for Northrop Grumman (NOC) and Trane Technologies (TT). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Northrop Grumman (NOC) and Trane Technologies (TT)
Metric	NOC	TT
Total Return (1Y)	-3.34%	-2.56%
Total Return (3Y, Annualized)	7.23%	25.06%
Total Return (5Y, Annualized)	9.98%	18.70%

Risk Profile

Drawdown History

NOC

GSPC

Northrop Grumman (NOC) 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

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

Risk Metrics

Northrop Grumman (NOC) reports a negative beta of -0.12, suggesting inverse market sensitivity over the measurement window. That is uncommon for ordinary equities and can reflect commodity-linked or hedge-like exposure, but it can also come from statistical noise. Trane Technologies (TT) has a non-negative beta of 1.18.

Risk profile metrics for Northrop Grumman (NOC) and Trane Technologies (TT)
Metric	NOC	TT
Volatility (1Y, Annualized)	28.86%	30.26%
Beta (5Y)	-0.12	1.18
Max Drawdown (5Y)	-37.80%	-39.76%
Avg. Volume (3M)	902.47K	1.24M

Risk-Adjusted Performance

Risk-Return Positioning

NOC 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 Northrop Grumman (NOC) and Trane Technologies (TT)
Metric	NOC	TT
Sharpe Ratio (1Y)	-0.26	-0.23
Sortino Ratio (1Y)	-0.37	-0.31

Profitability

ROE (TTM)

Both Northrop Grumman (NOC) at 26.07% and Trane Technologies (TT) at 36.94% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

NOC

Capital Goods industry group

26.07%

Max: 40.55%
NOC: 26.07%
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%

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

Net Margin (TTM)

Trane Technologies (TT) at 13.56% retains a top-quartile share of revenue as profit, ahead of Northrop Grumman (NOC) at 10.37%, which keeps about the industry-typical share.

NOC

Capital Goods industry group

10.37%

Max: 27.47%
Q3: 12.10%
NOC: 10.37%
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%

Northrop Grumman (NOC) 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 Northrop Grumman (NOC) at 12.91%, which runs around its industry’s norm.

NOC

Capital Goods industry group

12.91%

Max: 36.60%
Q3: 18.33%
NOC: 12.91%
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%

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

Profitability Metrics

Profitability metrics for Northrop Grumman (NOC) and Trane Technologies (TT)
Metric	NOC	TT
ROE (TTM)	26.07%	36.94%
ROA (TTM)	7.11%	11.42%
Net Margin (TTM)	10.37%	13.56%
Operating Margin (TTM)	12.91%	19.85%
Gross Margin (TTM)	20.03%	34.99%

Growth

Revenue Growth

Both Northrop Grumman (NOC) at 2.24% 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.

Northrop Grumman (NOC) vs. Trane Technologies (TT): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Northrop Grumman (NOC) at 2.61% 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.

Northrop Grumman (NOC) vs. Trane Technologies (TT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Northrop Grumman (NOC) and Trane Technologies (TT)
Metric	NOC	TT
Revenue Growth (YoY)	2.24%	7.48%
Revenue Growth (3Y CAGR)	4.65%	10.06%
EPS Growth (YoY)	2.61%	15.48%
EPS Growth (3Y CAGR)	-2.60%	20.17%

Financial Strength

Current Ratio (MRQ)

Both Northrop Grumman (NOC) at 1.23 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.

NOC

Capital Goods industry group

1.23

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
NOC: 1.23
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

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

Debt / Equity (MRQ)

Both Northrop Grumman (NOC) at 0.93 and Trane Technologies (TT) at 0.46 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

NOC

Capital Goods industry group

0.93

Max: 2.33
Q3: 1.12
NOC: 0.93
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

Northrop Grumman (NOC) 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 Northrop Grumman (NOC) and Trane Technologies (TT)
Metric	NOC	TT
Current Ratio (MRQ)	1.23	1.12
Debt / Equity (MRQ)	0.93	0.46
Net Debt / EBITDA	1.87	0.66

Dividends

Dividend Yield (TTM)

Northrop Grumman (NOC) at 1.82% delivers top-quartile income for its industry, while Trane Technologies (TT) at 1.04% pays a more typical yield — both are credible income propositions, NOC the richer one.

NOC

Capital Goods industry group

1.82%

Max: 2.66%
NOC: 1.82%
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%

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

Dividend Payout Ratio (TTM)

Both Northrop Grumman (NOC) at 30.18% and Trane Technologies (TT) at 28.42% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

NOC

Capital Goods industry group

30.18%

Max: 67.39%
NOC: 30.18%
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%

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

Dividend Metrics

Dividend metrics for Northrop Grumman (NOC) and Trane Technologies (TT)
Metric	NOC	TT
Dividend Yield (TTM)	1.82%	1.04%
Dividend Payout Ratio (TTM)	30.18%	28.42%

Valuation

P/E Ratio (TTM)

Northrop Grumman (NOC) at 16.57 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 NOC, though growth and earnings durability still matter.

NOC

Capital Goods industry group

16.57

Max: 59.38
Q3: 35.92
Median: 25.41
Q1: 19.47
NOC: 16.57
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

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

P/S Ratio (TTM)

Northrop Grumman (NOC) at 1.71 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.

NOC

Capital Goods industry group

1.71

Max: 7.54
Q3: 3.76
Median: 2.15
NOC: 1.71
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

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

P/B Ratio (MRQ)

Northrop Grumman (NOC) at 3.99 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.

NOC

Capital Goods industry group

3.99

Max: 9.66
Q3: 5.00
NOC: 3.99
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

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

Valuation Metrics

Valuation metrics for Northrop Grumman (NOC) and Trane Technologies (TT)
Metric	NOC	TT
P/E Ratio (TTM)	16.57	27.92
P/S Ratio (TTM)	1.71	3.79
P/B Ratio (MRQ)	3.99	9.66
Free Cash Flow Yield (TTM)	4.21%	3.94%