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Trimble Inc.

TRMB

Technology Scientific & Technical Instruments

Trimble Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.6 billion, down 2.61% from fiscal 2024.

Revenue
+7.28%
EPS
−45.9%
Free cash flow
+21.6%
Total debt
+10.2%

Quarter to September 2026, against a year earlier

55.85 0.63 −1.12%
Market cap
$13.0B
P/E
n/m
Fwd P/E
n/m
Dividend yield
—
F-score
4/9
ROIC
6.30%
Net debt / EBITDA
1.4×
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Field Systems
  • AECO
  • T&L

Every year since 2010 →

Insider Decisions last twelve months

Net sold
$4.4M
Trades
10 sells · 0 buys
Ownership
1.80%

Capital & Financial Ratios $m

Size
Market Cap 12,950
Revenue ttm 3,849
Net income ttm (157)
Free cash flow ttm 798
Net debt Q 1,319
Valuation
P/E n/m
Forward P/E n/m
Price / sales 3.4
Forward P/S Powerpack
Price / FCF 16.4
Price / book 2.6
Financial health
Current ratio Q 0.9 (below 1: weak)
Debt / equity Q 0.3 (at or below 0.5: strong)
Interest coverage Q 7.0
Growth
Revenue growth Q +7.3% (above 0%: growing)
Operating income growth Q −5.6% (below 0%: shrinking)
EPS, this year +17.3% (at or above 15%: strong)
EPS, next year A +9.8%
Revenue, next year A +9.6%
EPS, past 5 yrs +2.6%
EPS, next 5 yrs A +14.8%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates; n/m is not meaningful, as a P/E on a loss. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.7×, against a ten-year median of 4.1×; over the ten years it ranged from 2.4× in 2016 to 7.1× in 2021.
P/S against its own 10 years 34.85%
10-year low 10-year high
P/B against its own 10 years 9.08%
10-year low 10-year high
EV/Sales against its own 10 years 30.16%
10-year low 10-year high
EV/FCF against its own 10 years 1.68%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 230 739 253 215
Receivables 707 726 856 611
Inventory 236 194 186 183
Other 569 508 234 236
1,831 2,270 1,632 1,356
2023 2024 2025 Q'26
Payables 165 162 168 220
ST’ Debt — — — 90
Other 250 274 212 202
1,829 1,788 1,503 1,461

Compound Annual Growth %

10y 5y 3y
Sales 4.59% 2.65% (0.81%)
Cash Flow 0.79% (10.49%) (0.43%)
Earnings 13.35% 1.69% (1.94%)
Book Value 10.15% 10.15% 12.95%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.86 Actual 0.86

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.96 1.00 Beat by 0.04
Q1 FY26 0.72 0.79 Beat by 0.07
Q2 FY26 0.80 0.86 Beat by 0.06
Q3 FY26 0.86 0.86 Met by 0.00
Q4 FY26 1.16 — Reports 9 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.42 (2.02) 0.25 — —
’25 0.27 0.37 0.46 0.65 1.76
’24 0.23 5.34 0.16 0.36 6.09
’23 0.52 0.18 0.30 0.25 1.25
’22 0.44 0.67 0.34 0.34 1.80
’21 0.45 0.55 0.49 0.45 1.94
’20 0.25 0.25 0.34 0.71 1.55
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 940 972 967 — —
’25 841 876 901 970 3,587
’24 953 871 876 983 3,683
’23 915 994 957 932 3,799
’22 994 941 885 856 3,676
’21 887 945 901 926 3,659
’20 792 734 792 830 3,148
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 275 240 150 — —
’25 156 (53) 124 160 386
’24 234 88 95 115 531
’23 209 142 147 99 597
’22 153 49 83 106 391
’21 228 201 166 155 751
’20 156 148 181 188 672
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 269 233 142 — —
’25 149 (59) 117 155 361
’24 227 73 89 109 498
’23 202 130 134 89 555
’22 139 35 75 100 348
’21 218 211 156 120 704
’20 139 135 165 176 615
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 7.2% a year for ten years. It grew −1.2% a year over the last ten.

Implied
7.2%
10 years, reported
−1.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,362 2,647 3,108 3,264 3,148 3,659 3,676 3,799 3,683 3,587 3,849 +4.8% 3,930 4,207 4,638 +8.9%
Gross margin, % 52.26 52.05 54.08 54.56 55.75 55.61 57.27 61.41 65.06 69.07 69.60 +16.8 pt
EBT 176 248 278 345 395 575 569 357 2,006 509 (8) +12.5%
EBT margin, % 7.46 9.38 8.94 10.56 12.55 15.70 15.48 9.40 54.46 14.20 (0.20) +6.7 pt
Net income 132 119 283 515 391 493 450 311 1,504 424 (157) +13.8%
Per share, $
Per share, $ Revenue 9.43 10.50 12.43 13.02 12.57 14.55 14.79 15.32 15.00 15.00 16.56 +5.3%
Earnings 0.53 0.48 1.13 2.05 1.56 1.96 1.81 1.26 6.13 1.77 (0.69) +14.3%
Cash flow 1.72 1.70 1.95 2.33 2.68 2.99 1.57 2.41 2.16 1.61 3.55 (0.7%)
Capex (0.10) (0.17) (0.27) (0.27) (0.23) (0.18) (0.17) (0.17) (0.14) (0.11) (0.11) +0.2%
Free cash flow 1.62 1.53 1.68 2.06 2.46 2.80 1.40 2.24 2.03 1.51 3.44 (0.8%)
Book value 9.20 9.58 10.70 12.44 14.37 15.69 16.29 18.15 23.40 24.40 21.41 +11.4%
Shares, m 251 252 250 251 251 251 249 248 246 239 235 (0.5%)
Valuation, ×
Valuation, × P/E 57.11 85.54 29.12 20.24 42.80 44.48 27.96 41.96 11.51 44.27 0.00 40.5
P/S 3.21 3.91 2.65 3.20 5.31 5.99 3.42 3.42 4.71 5.22 3.37 4.1
P/B 3.29 4.29 3.08 3.35 4.65 5.56 3.11 2.89 3.02 3.21 2.61 3.6
EV/Sales 3.34 4.06 3.19 3.72 5.74 6.26 3.76 4.17 5.00 5.56 3.72 4.5
EV/FCF 19.88 28.44 24.12 23.88 29.76 32.92 40.67 28.95 37.56 56.53 18.09 32.3
Cash, $m
Cash, $m Operating cash flow 431 430 487 585 672 751 391 597 531 386 825 (1.2%)
Capex (26) (44) (68) (69) (57) (46) (43) (42) (34) (25) (27) (0.3%)
Free cash flow 405 386 419 516 615 704 348 555 498 361 798 (1.3%)
Balance, $m
Balance, $m Working capital 291 538 34 22 (30) 262 56 2 482 129 (105) (8.7%)
Net debt 292 376 1,796 1,683 1,344 1,003 1,249 2,306 652 1,139 1,319 +16.3%
Shareholders’ equity 2,306 2,415 2,675 3,120 3,599 3,945 4,050 4,500 5,745 5,836 4,976 +10.9%
Returns, %
Returns, % ROA 3.60 2.96 5.60 8.28 5.77 7.05 6.26 3.70 15.81 4.51 (1.79) +0.9 pt
ROIC 4.34 5.28 4.48 4.89 5.31 7.09 6.03 4.12 4.50 5.30 6.30 +1.0 pt
ROE 5.85 5.02 11.11 17.75 11.61 13.06 11.25 7.28 29.37 7.32 (2.92) +1.5 pt
People
People Employees 8,388 9,523 11,287 11,484 11,402 11,931 11,825 12,700 12,100 11,500 — +3.6%
Revenue/emp, $m 0.28 0.28 0.28 0.28 0.28 0.31 0.31 0.30 0.30 0.31 — +1.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 10 Nov 2026

Business profile

Updated

Trimble makes software, hardware and services that connect work done in offices with work in the physical world. Its customers include construction companies, architects, engineers, surveyors, asset owners, utilities and transportation businesses. Founded in 1978 and headquartered in Westminster, Colorado, the company is led by President and Chief Executive Officer Robert G. Painter.

In construction, Trimble’s software helps people design projects, estimate costs, manage work and maintain finished assets. Its SketchUp software supports design and 3D visualization, while Trimble Connect lets project participants collaborate around shared information. Field products capture measurements and help guide construction equipment using digital designs.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Field Systems 1,540 42.92%
AECO 1,499 41.78%
T&L 549 15.31%
Gross margin 69.07%
Operating margin 16.50%
Pre-tax margin 14.20%

Revenue by segment since 2010

Trimble Inc. vs peers in Scientific & Technical Instruments (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
TDY Teledyne Technologies Incorporated $30.0B 29.6× 28.3× +9.44% (above 0%: growing) +25.16% (above 0%: growing) +1.78% (above 0%: growing) 43.88% 20.61% Compare
FTV Fortive Corporation $20.2B 31.9× 30.5× +7.83% (above 0%: growing) +237.76% (above 0%: growing) +108.91% (above 0%: growing) 64.16% 21.30% Compare
MKSI MKS Inc. $15.3B 24.7× 20.4× +43.02% (above 0%: growing) +216.91% (above 0%: growing) +66.44% (above 0%: growing) 47.70% 23.07% Compare
TRMB Trimble Inc. $13.0B — (loss-making) — (loss-making) +7.28% (above 0%: growing) −45.89% (below 0%: shrinking) +21.61% (above 0%: growing) 68.17% 14.69%
CGNX Cognex Corporation $8.7B 35.1× 28.9× +13.18% (above 0%: growing) +358.18% (above 0%: growing) +20.62% (above 0%: growing) 70.76% 32.17% Compare
ESE ESCO Technologies Inc. $7.4B 19.4× 39.6× +14.40% (above 0%: growing) +24.75% (above 0%: growing) −22.12% (below 0%: shrinking) 41.74% 14.80% Compare
ST Sensata Technologies Holding N.V. $5.9B 15.7× 13.7× +7.68% (above 0%: growing) n/m +45.49% (above 0%: growing) 33.07% 17.46% Compare
VNT Vontier Corporation $5.8B 17.5× 16.9× −2.07% (below 0%: shrinking) +4.69% (above 0%: growing) +35.07% (above 0%: growing) 47.60% 21.50% Compare
NOVT Novanta Inc. $4.7B 88.0× 74.3× +23.07% (above 0%: growing) −84.20% (below 0%: shrinking) +648.10% (above 0%: growing) 44.47% 4.56% Compare
Median of peers $8.1B 27.1× 28.6× +11.31% +25.16% +40.28% 46.04% 20.96%

All 33 Scientific & Technical Instruments stocks →

From the latest earnings call

Updated

  • CEO Rob Painter said positioning-services growth slowed in agriculture, especially in South America, while renewals of bundled positioning subscriptions came in below expectations.
  • Painter said Trimble is prioritizing adoption of its AI tools, with monetization expected to follow as customer usage patterns mature.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 98.58%
Held by the ten largest 49.59%
Holder Shares Stake Change
Vanguard 29.79m 12.78% −474.67k
BlackRock 21.42m 9.19% +1.94m
Ameriprise (Columbia Threadneedle) 12.68m 5.44% +10.24m
State Street 11.64m 4.99% +849.55k
Morgan Stanley 9.32m 4.00% −785.02k
Invesco 7.37m 3.16% +2.45m
GENERATION INVESTMENT MANAGEMENT LLP 7.19m 3.08% −590.29k
Geode Capital Management 6.63m 2.84% +154.74k
Select Equity Group, L.P. 5.08m 2.18% −525.51k
UBS 4.53m 1.94% +22.00k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 9 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 19.13m 26.50m 117.00
2025 18.94m 30.92m 106.00
2023 14.95m 15.02m 80.00
2022 16.13m (8.52m) 76.00
2021 13.96m 27.44m 131.00

Ownership

Directors and executive officers, together less than 1%
The Vanguard Group 13.20%
Morgan Stanley 5.60%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Trimble Inc. (TRMB) Latest News

9 Nov

Impact 3 · · PR Newswire

8 Nov

Impact 3 · · StockStory

5 Nov

Impact 3 · · Zacks

4 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · MarketBeat transcript
Impact 3 · · Moby
Impact 3 · · The Motley Fool
Impact 3 · · The Motley Fool transcript
Impact 3 · · FreightWaves
Impact 3 · · PR Newswire

28 Oct

Impact 3 · · Zacks
Impact 3 · · Zacks

26 Oct

Impact 3 · · GlobeNewswire

24 Oct

Impact 4 · · Simply Wall St.

22 Oct

Impact 3 · · Barchart
Impact 3 · · Trefis

21 Oct

Impact 3 · · PR Newswire

28 Sep

Impact 4 · · FreightWaves
Impact 3 · · FreightWaves

24 Sep

Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

23 Sep

Impact 3 · · Barchart

4 Sep

Impact 3 ·

19 Aug

Impact 4 · · The Motley Fool transcript
Impact 3 ·

15 Aug

Impact 4 ·

14 Aug

Impact 3 ·

13 Aug

Impact 4 ·
Impact 3 ·
Impact 3 ·

TRMB metrics, ten years each

stockrow.com/TRMB · Data as of Nov 10, 2026 · For information only; not investment advice. · © 2026 stockrow.com