A Business at a Glance
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TRIMBLE INC.
TRMB
$12.7B
Mkt Cap
$52.91
+5.08%
TRIMBLE INC. (TRMB) has a current P/E ratio of 30.1, compared to its historical median P/E of 40.0. The stock is currently considered Fair based on its historical valuation range.
TRIMBLE INC. (TRMB) has a 5-year average return on invested capital (ROIC) of 12.6%. This indicates solid capital allocation.
TRIMBLE INC. (TRMB) has a market capitalization of $12.7B. It is classified as a large-cap stock.
TRIMBLE INC. (TRMB) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 6.77%.
Based on historical P/E analysis, TRIMBLE INC. (TRMB) appears fair. The current P/E of 30.1 is 25% below its historical median of 40.0. The estimated fair value CAGR (P/E method) is 6.6%.
TRIMBLE INC. (TRMB) operates in the Measuring & Controlling Devices, Nec industry, within the Technology sector.
TRIMBLE INC. (TRMB) reported annual revenue of $3.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
Trimble is a technology solutions and platform provider serving foundational industries including construction, geospatial, natural resources, utilities, and transportation. The company operates through three reportable segments—Architects, Engineers, Construction, and Owners (AECO); Field Systems; and Transportation and Logistics (T&L)—each serving distinct customer bases including asset owners, contractors, architects, engineers, surveyors, energy companies, transportation carriers, and government entities. Trimble's business model centers on two open industry cloud platforms: one for construction connecting design, build, and operational phases, and one for transportation and logistics providing supply chain visibility and optimization. The company generates revenue through subscription services (including consumption, term, and perpetual licenses), Software-as-a-Service (SaaS) offerings, and hardware integrated with software capabilities; subscription and recurring revenue represent a steadily increasing portion of the business and provide a predictable foundation. Trimble's competitive moat derives from deep domain expertise across vertical markets, over 1,000 unique patents, extensive three-dimensional modeling and AI capabilities, and the integration of data, software, and hardware that creates detailed insights across physical and digital workflows. The company distributes globally through direct sales, independent dealers, joint ventures (including with Caterpillar, AGCO, Hilti, and Nikon), original equipment manufacturers, and distribution alliances, with sales supported by offices in over 40 countries and products sold in more than 160 countries.
【Platform momentum and AI integration】 Management expects continued execution of the Connect and Scale platform strategy, with mid-teens annual recurring revenue (ARR) growth and low-to-mid-teens revenue growth trajectory aligned to deliver 2027 targets of $3 billion in ARR, $4 billion in revenue, and 30% EBITDA margins. The company is deploying AI, Generative AI, Machine Learning, and Computer Vision across its solutions to drive customer productivity through process automation and operational insights, with development resources approaching a 10% dedication to applied AI and agentic development. Management anticipates strong operating leverage while reinvesting for future growth, with free cash flow expected to approximate non-GAAP net income and at least one-third of free cash flow allocated to share repurchases. The company continues to pursue strategic acquisitions focused on strengthening core market positions and adding cross-sell capabilities, while maintaining a consistent macroeconomic environment assumption that includes pockets of strength in data centers and infrastructure but a more challenged freight market in transportation.
| Metric | Target | Period |
|---|---|---|
| Revenue | $3.875 billion | FY2026 |
| Earnings Per Share | $3.55 | FY2026 |
| ARR Growth | 13% | FY2026 |
| EBITDA Margins | 29.7% | FY2026 |
| Revenue | $950 million | Q2 FY2026 |
| Earnings Per Share | $0.80 | Q2 FY2026 |
| ARR Growth | 13% | Q2 FY2026 |
| EBITDA Margins | 27.7% | Q2 FY2026 |
Revenue (FY2026): “The midpoint of our 2026 full year guidance for revenue is $3.875 billion, a $15 million increase from the prior guidance and represents approximately 8% growth.”
Earnings Per Share (FY2026): “We are also increasing our EPS guidance to $3.55.”
ARR Growth (FY2026): “We expect the midpoint of ARR growth at 13%”
EBITDA Margins (FY2026): “and EBITDA margins at 29.7% as our model delivers strong operating leverage while allowing us to reinvest for future growth.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 3.6B | 3.6B | 3.7B | 3.7B | 3.8B | 3.7B |
| Net Income | 424M | 424M | 1.5B | 1.5B | 311M | 450M |
| EPS | $1.76 | $1.76 | $6.09 | $6.09 | $1.25 | $1.80 |
| Free Cash Flow | 361M | 361M | 498M | 498M | 555M | 348M |
| ROIC | 7.1% | 7.4% | 21.1% | 21.1% | 5.7% | 7.6% |
| Gross Margin | 69.1% | 69.1% | 65.1% | 65.1% | 61.4% | 57.3% |
| Debt/Equity | 0.24 | 0.24 | 0.24 | 0.33 | 0.83 | 0.48 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 592M | 592M | 461M | 461M | 449M | 511M |
| Operating Margin | 16.5% | 16.5% | 12.5% | 12.5% | 11.8% | 13.9% |
| ROE | 7.3% | 7.3% | 26.2% | 29.4% | 7.3% | 11.2% |
| Shares Outstanding | 241M | 241M | 247M | 247M | 249M | 250M |
| Metric | 2019 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 2.4B | 2.4B | 2.7B | 3.1B | 3.3B | 3.3B | 3.7B | 3.7B | 3.8B | 3.7B | 3.7B | 3.6B | 3.6B |
| Gross Margin | 53.9% | 52.3% | 51.9% | 53.7% | 54.6% | 54.4% | 55.6% | 57.3% | 61.4% | 65.1% | 65.1% | 69.1% | 69.1% |
| R&D | 318M | 350M | 370M | 446M | 470M | 470M | 537M | 542M | 664M | 662M | 662M | 631M | 631M |
| SG&A | 247M | 256M | 302M | 350M | 331M | 331M | 369M | 422M | 488M | 548M | 548M | 483M | 483M |
| EBIT | 261M | 180M | 236M | 321M | 376M | 376M | 561M | 511M | 449M | 461M | 461M | 592M | 592M |
| Op. Margin | 10.9% | 7.6% | 8.9% | 10.2% | 11.5% | 11.5% | 15.3% | 13.9% | 11.8% | 12.5% | 12.5% | 16.5% | 16.5% |
| Net Income | 214M | 132M | 118M | 283M | 514M | 514M | 493M | 450M | 311M | 1.5B | 1.5B | 424M | 424M |
| Net Margin | 8.9% | 5.6% | 4.5% | 9.0% | 15.8% | 15.7% | 13.5% | 12.2% | 8.2% | 40.8% | 40.8% | 11.8% | 11.8% |
| Non-Recurring | 3.6M | 31M | 19M | 15M | 27M | 47M | 68M | 129M | 55M | 16M | 1.7B | 22M | 22M |
| Returns on Capital | |||||||||||||
| ROIC | 5.5% | 4.0% | 5.2% | 8.8% | 8.1% | 7.5% | 9.8% | 7.6% | 5.7% | 21.1% | 21.1% | 7.4% | 7.1% |
| ROE | 9.4% | 5.7% | 5.0% | 11.1% | 17.8% | 16.5% | 14.0% | 11.2% | 7.3% | 29.4% | 26.2% | 7.3% | 7.3% |
| ROA | 5.7% | 3.5% | 3.0% | 5.6% | 8.3% | 7.7% | 7.2% | 6.3% | 3.7% | 15.8% | 15.9% | 4.5% | 4.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 407M | 431M | 430M | 487M | 585M | 585M | 751M | 391M | 597M | 531M | 531M | 386M | 386M |
| Free Cash Flow | 360M | 405M | 386M | 419M | 516M | 516M | 704M | 348M | 555M | 498M | 498M | 361M | 361M |
| Owner Earnings | 255M | 279M | 267M | 298M | 471M | 397M | 536M | 99M | 201M | 141M | 141M | 40M | 40M |
| CapEx | 47M | 26M | 44M | 68M | 69M | 69M | 46M | 43M | 42M | 34M | 34M | 25M | 25M |
| Maint. CapEx | 109M | 99M | 98M | 112M | 39M | 113M | 92M | 172M | 251M | 232M | 232M | 200M | 200M |
| Growth CapEx | 0 | 0 | 0 | 0 | 30M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 109M | 99M | 98M | 112M | 39M | 113M | 92M | 172M | 251M | 232M | 232M | 200M | 200M |
| CapEx/OCF | 11.6% | 6.0% | 10.2% | 13.9% | N/A | 11.8% | 8.5% | 11.0% | 7.0% | N/A | 6.3% | 6.6% | 6.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 98M | 120M | 285M | 93M | 180M | 180M | 180M | 395M | 100M | 175M | 175M | 863M | 863M |
| Buyback Yield | 1.5% | 2.5% | 3.7% | 0.8% | 0.0% | 1.6% | 0.5% | 2.2% | 0.7% | 0.0% | 0.9% | 5.1% | 6.8% |
| Stock-Based Comp | 43M | 53M | 65M | 77M | 75M | 75M | 123M | 120M | 145M | 159M | 159M | 147M | 147M |
| Debt Repayment | 900M | 465M | 495M | 1.9B | 1.3B | 1.3B | 450M | 590M | 2.3B | 2.2B | 2.2B | 577M | 577M |
| Balance Sheet | |||||||||||||
| Net Debt | 587M | 293M | 377M | 1.8B | 1.7B | 1.9B | 1.1B | 1.7B | 3.5B | 1.2B | 652M | 1.1B | 1.1B |
| Cash & Equiv. | 148M | 216M | 359M | 173M | 189M | 189M | 326M | 271M | 230M | 739M | 739M | 253M | 253M |
| Long-Term Debt | 671M | 490M | 786M | 1.7B | 1.6B | 1.6B | 1.3B | 1.2B | 2.5B | 1.4B | 1.4B | 1.4B | 1.4B |
| Debt/Equity | 0.31 | 0.27 | 0.38 | 0.74 | 0.59 | 0.66 | 0.37 | 0.48 | 0.83 | 0.33 | 0.24 | 0.24 | 0.24 |
| Interest Coverage | 13.9 | 7.0 | 9.4 | 4.4 | N/A | 4.6 | 8.6 | 7.2 | 2.8 | N/A | 5.1 | 8.0 | 8.0 |
| Equity | 2.3B | 2.3B | 2.4B | 2.7B | 3.1B | 3.1B | 3.9B | 4.1B | 4.5B | 5.7B | 5.7B | 5.8B | 5.8B |
| Total Assets | 3.9B | 3.7B | 4.3B | 5.8B | 6.6B | 6.6B | 7.1B | 7.3B | 9.5B | 9.5B | 9.5B | 9.3B | 9.3B |
| Total Liabilities | 1.5B | 1.4B | 1.9B | 3.1B | 3.5B | 3.5B | 3.2B | 3.2B | 5.0B | 3.7B | 3.7B | 3.5B | 3.5B |
| Intangibles | 595M | 333M | 365M | 744M | 3.7B | 679M | 507M | 498M | 1.2B | 5.0B | 998M | 924M | 924M |
| Retained Earnings | 1.2B | 1.2B | 1.1B | 1.3B | 1.6B | 1.6B | 2.2B | 2.2B | 2.4B | 3.8B | 3.8B | 3.4B | 3.4B |
| Working Capital | 314M | 291M | 538M | 34M | 22M | 22M | 262M | 56M | 1.6M | 482M | 482M | 129M | 128M |
| Current Assets | 902M | 979M | 1.3B | 1.1B | 1.2B | 1.2B | 1.5B | 1.5B | 1.8B | 2.3B | 2.3B | 1.6B | 1.6B |
| Current Liabilities | 588M | 688M | 773M | 1.1B | 1.2B | 1.2B | 1.2B | 1.5B | 1.8B | 1.8B | 1.8B | 1.5B | 1.5B |
| Per Share Data | |||||||||||||
| EPS | 0.81 | 0.52 | 0.46 | 1.12 | 2.03 | 2.03 | 1.94 | 1.80 | 1.25 | 6.09 | 6.09 | 1.76 | 1.76 |
| Owner EPS | 0.96 | 1.10 | 1.04 | 1.18 | 1.86 | 1.57 | 2.11 | 0.40 | 0.81 | 0.57 | 0.57 | 0.17 | 0.17 |
| Book Value | 8.86 | 9.06 | 9.38 | 10.59 | 12.31 | 12.31 | 15.53 | 16.21 | 18.07 | 23.26 | 23.26 | 24.23 | 24.23 |
| Cash Flow/Share | 1.54 | 1.69 | 1.67 | 1.93 | 2.31 | 2.31 | 2.96 | 1.57 | 2.40 | 2.15 | 2.15 | 1.60 | 2.59 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 264.3M | 254.6M | 257.4M | 252.5M | 253.3M | 253.3M | 254.0M | 249.8M | 249.0M | 247.0M | 247.0M | 240.9M | 240.9M |
| Valuation | |||||||||||||
| P/E Ratio | 30.3 | 36.5 | 65.2 | 40.1 | N/A | 21.4 | 43.6 | 39.0 | 46.4 | N/A | 12.4 | 39.8 | 30.1 |
| P/FCF | 18.1 | 11.9 | 20.0 | 27.1 | N/A | 21.3 | 24.4 | 50.4 | 26.0 | N/A | 37.4 | 46.8 | 35.3 |
| EV/EBIT | 27.3 | 28.4 | 34.3 | 41.0 | N/A | 33.7 | 42.1 | 36.9 | 39.2 | N/A | 40.2 | 30.0 | 23.5 |
| Price/Book | N/A | 2.1 | 3.2 | 4.2 | N/A | 3.5 | 4.3 | 4.3 | 3.2 | N/A | 3.2 | 2.9 | 2.2 |
| Price/Sales | 3.6 | 2.4 | 2.6 | 3.0 | N/A | 3.1 | 3.8 | 5.6 | 4.1 | N/A | 4.1 | 5.1 | 3.6 |
| FCF Yield | 5.5% | 8.4% | 5.0% | 3.7% | N/A | 4.7% | 4.1% | 2.0% | 3.8% | N/A | 2.7% | 2.1% | 2.8% |
| Market Cap | 6.5B | 4.8B | 7.7B | 11.3B | 0 | 11.0B | 17.0B | 17.6B | 14.4B | 0 | 18.6B | 16.9B | 12.7B |
| Avg. Price | 32.87 | 22.32 | 26.41 | 37.14 | 0.00 | 40.46 | 47.44 | 81.83 | 62.32 | 0.00 | 61.24 | 75.36 | 52.91 |
| Year-End Price | 24.58 | 18.96 | 29.97 | 44.93 | 0.00 | 43.37 | 67.63 | 70.26 | 58.01 | 0.00 | 75.27 | 70.07 | 52.91 |
TRIMBLE INC. passes 6 of 9 quality checks, suggesting mixed fundamentals.
TRIMBLE INC. trades at 30.1x trailing earnings, compared to its 15-year median P/E of 40.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 34.3x vs a median of 26.5x. The company's 5-year average ROIC is 12.6% with a gross margin of 63.6%. Total shareholder yield (buybacks) is 6.8%. At current prices, the estimated annualized return to fair value is -2.5%.
TRIMBLE INC. (TRMB) has a net profit margin of 11.8%. This is a healthy margin.
TRIMBLE INC. (TRMB) generated $361 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
TRIMBLE INC. (TRMB) has a debt-to-equity ratio of 0.24. This indicates a conservatively financed balance sheet.
TRIMBLE INC. (TRMB) reported earnings per share (EPS) of $1.76 in its most recent fiscal year.
TRIMBLE INC. (TRMB) has a return on equity (ROE) of 7.3%. This indicates moderate shareholder returns.
TRIMBLE INC. (TRMB) has a 5-year average gross margin of 63.6%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for TRIMBLE INC. (TRMB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TRIMBLE INC. (TRMB) has a book value per share of $24.23, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued execution of the Connect and Scale platform strategy, with mid-teens annual recurring revenue (ARR) growth and low-to-mid-teens revenue growth trajectory aligned to deliver 2027 targets of $3 billion in ARR, $4 billion in revenue, and 30% EBITDA margins. The company is deploying AI, Generative AI, Machine Learning, and Computer Vision across its solutions to drive customer productivity through process automation and operational insights, with development resources approaching a 10% dedication to applied AI and agentic development. Management anticipates strong operating leverage while reinvesting for future growth, with free cash flow expected to approximate non-GAAP net income and at least one-third of free cash flow allocated to share repurchases. The company continues to pursue strategic acquisitions focused on strengthening core market positions and adding cross-sell capabilities, while maintaining a consistent macroeconomic environment assumption that includes pockets of strength in data centers and infrastructure but a more challenged freight market in transportation.
Based on recent SEC filings and earnings calls, TRIMBLE INC. (TRMB) has provided the following forward guidance: Revenue: $3.875 billion (FY2026); Earnings Per Share: $3.55 (FY2026); ARR Growth: 13% (FY2026); EBITDA Margins: 29.7% (FY2026); Revenue: $950 million (Q2 FY2026), plus 3 additional metrics.
Revenue (Q2 FY2026): “we are setting the midpoints of our guidance at $950 million for revenue, which is approximately 7.5% growth”
Earnings Per Share (Q2 FY2026): “earnings per share at $0.80”
ARR Growth (Q2 FY2026): “and ARR growth at 13%”
EBITDA Margins (Q2 FY2026): “We expect EBITDA margins at 27.7%, a 30 basis points expansion year over year.”