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Trimble Inc. (TRMB) stock

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NASDAQ: TRMB Nasdaq Application Software Next results ~November 4, 2026

B Fundamentals grade

Trimble Inc. is a US-listed company in the application software industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$32

Cash-flow model

Base case. Range ~$23–$45 across our lower- and higher-growth cases (-1.5%–8.5% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 51% below it.

Price used: $65.84, November 2, 2026

Trimble Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Trimble files

Where Trimble stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $3.78bn, up 5.8% on a year earlier, faster than 3.2% a quarter earlier. Free-cash-flow margin rose to 20.4% from 8.0% a year earlier. Operating margin widened to 17.0% from 14.4%. The diluted share count is down 3.1% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 4 of our 7 financial-health checks. Our cash-flow model value is $24.05 a share, against a share price of $61.36.

Source: 10-Q filed August 12, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Trimble Inc.'s trailing-twelve-month revenue grew 5.8% year on year, with a free-cash-flow margin of 20.4%. Where it stands out: change in share count of -3.1% ranks 31 of 163 application software companies we cover.

Our discounted-cash-flow model values the business at ~$32 per share in the base case (~$23–$45 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Gross margin expanding: TTM gross margin reached 69.8%, up 2.2pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Strong cash generation. 20.4% of revenue turned into free cash flow, against a median of 15.2% for application software companies we cover.
  • Shrinking share count. Diluted shares fell 3.1% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Priced above our value. The share price of $65.84 is 51% above our value per share of $32.

Latest results: FY2026 Q2

Filed August 12, 2026
Earnings per share
$0.86 against an average estimate of $0.80: beat by 7.2%
Revenue
$972m, up 11.0% on a year earlier
Share reaction
-0.8% in the first session after the results on August 12, 2026, against +0.9% for the S&P 500
Guidance given
revenue $3,900m to $3,950m (full-year 2026); GAAP loss per share $0.07 to $0.12 (full-year 2026)
Next report
November 4, 2026; average EPS estimate $0.86

Trimble's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.4%
  • 1 week+3.9%
  • 1 month+14.5%
  • This year-16.0%
  • 1 year-17.4%
  • 5 years-25.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.8B
Operating margin
17.0%
Net margin
-2.8%
EPS (TTM, diluted)
$-0.44

Growth

Revenue growth
+5.8%
Change in growth rate
+2.6 pts
Share count change
−3.1%

Cash

Free cash flow (TTM)
$773M
FCF margin
20.4%
Stock pay % of revenue
4.3%

Earnings

Last results
August 12, 2026
Next results (est.)
November 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Results
  3. Guidance
  4. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Trimble Inc. valuation models and calculator

What the price is pricing in

The share price implies about 15.6% a year of cash-flow growth for five years.That is faster than the 0.7% a year revenue growth Trimble has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in15.6%
  • Last 12 months5.8%
  • 3 years a year1.2%
  • 5 years a year0.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($64.79, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$32
Price used
$64.79close November 3, 2026
Implied change
▼ 50%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Trimble Inc.'s free cash flow after stock-based pay with after-tax interest added back ($459M, FY2026 Q2 TTM), growing 6.8% and 5% in the next two years (forecasts, guidance and its record), then back to 3.5% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$23–~$45 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Trimble Inc.'s free cash flow after stock-based pay ( $459M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Trimble Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.16 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$32 ~$23–$45 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$57 ~$47–$96 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$25 ~$17–$36 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$25 ~$22–$29 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$34 ~$25–$57 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Trimble Inc. with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −27%
  • Revenue growth 5 points higher ▲ +35%
  • Free-cash-flow margin 1 point lower ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▲ more than doubles
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $23$33$47$64$87$117
8.5% $16$24$33$46$63$84
10% $12$18$26$35$48$64

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$21.45$30.15$40.64$31.94$41.51$66.77$87.19$50.56$53.20$70.57$78.33$65.84
Market value$5.5bn$7.7bn$10.4bn$8.1bn$10.5bn$16.8bn$22.2bn$12.7bn$13.3bn$17.4bn$18.9bn$15.6bn
+ Net debt (− = net cash)$619m$409m$560m$1.8bn$1.9bn$1.6bn$968m$1.5bn$3.4bn$652m$1.1bn$1.2bn
Enterprise value$6.2bn$8.1bn$11.0bn$9.9bn$12.4bn$18.4bn$23.1bn$14.2bn$16.6bn$18.1bn$20.1bn$16.9bn
Multiples
Price / sales 2.4x3.2x3.9x2.6x3.2x5.3x6.1x3.4x3.5x4.7x5.3x4.1x
Price / earnings 45.8x57.8x88.1x28.6x20.4x43.2x45.0x28.1x42.6x11.6x44.6x—
Price / free cash flow 17.7x18.9x27.0x19.3x20.3x27.4x31.5x36.4x23.9x35.0x52.4x20.2x
EV / EBITDA 32.3x37.1x40.7x27.8x29.8x40.1x38.4x20.8x23.8x26.1x25.3x20.0x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

69 /100

Moderate moat

How hard Trimble's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 16.3% of total assets over 10 years.

  • Pricing power 17 / 20

    Gross margin has been a median 58.8%, moving by 5.1 percentage points (standard deviation) across 10 years.

  • Durability 13 / 20

    Operating margin has been a median 12.1%; its worst year was 9.2%.

  • Cash conversion 17 / 20

    Free cash flow was positive in 10 of 10 years, at a median 14.4% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 6.4% over five years; stock-based pay has been a median 3.2% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (84 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, before the open. Analysts expect revenue of $966m and EPS of $0.86 (range $0.85 to $0.88) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.67 +17% $3.9bn +10%
Next $4.14 +13% $4.2bn +8%

Next year's EPS estimate has moved +1.4% in 90 days, across 13 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.2% on 90 days ago. In the last 30 days, 12 analysts raised Trimble Inc.'s forecast and 0 cut it.

Consensus EPS forecast Trimble Inc., last 90 days
$3.40 $3.60 $3.80 $4.00 $4.20 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.59 Current fiscal year, 60 days ago: $3.67 Current fiscal year, 30 days ago: $3.67 Current fiscal year, 7 days ago: $3.67 Current fiscal year, Now: $3.67 $3.67 Next fiscal year, 90 days ago: $4.08 Next fiscal year, 60 days ago: $4.12 Next fiscal year, 30 days ago: $4.14 Next fiscal year, 7 days ago: $4.14 Next fiscal year, Now: $4.14 $4.14

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.59$4.08
60 days ago $3.67$4.12
30 days ago $3.67$4.14
7 days ago $3.67$4.14
Now $3.67$4.14

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.80 $0.86 +7.2%
Mar 2026 $0.72 $0.79 +9.8%
Dec 2025 $0.96 $1.00 +4.1%
Sept 2025 $0.72 $0.81 +13.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 12, 2026
  • revenue full-year 2026 $3,900m to $3,950m Raised
    “For the full-year 2026, Trimble expects to report revenue between $3,900 million and $3,950 million, GAAP loss per share of $0.07 to $0.12, and non-GAAP earnings per share of $3.60 to $3.70.” source
  • revenue third quarter of 2026 $953m to $978m
    “For the third quarter of 2026, Trimble expects to report revenue between $953 million and $978 million, GAAP earnings per share of $0.39 to $0.44, and non-GAAP earnings per share of $0.83 to $0.88.” source
  • GAAP loss per share full-year 2026 $0.07 to $0.12 GAAP Raised
    “For the full-year 2026, Trimble expects to report revenue between $3,900 million and $3,950 million, GAAP loss per share of $0.07 to $0.12, and non-GAAP earnings per share of $3.60 to $3.70.” source
  • non-GAAP earnings per share full-year 2026 $3.60 to $3.70 Non-GAAP Raised
    “For the full-year 2026, Trimble expects to report revenue between $3,900 million and $3,950 million, GAAP loss per share of $0.07 to $0.12, and non-GAAP earnings per share of $3.60 to $3.70.” source
  • GAAP earnings per share third quarter of 2026 $0.39 to $0.44 GAAP
    “For the third quarter of 2026, Trimble expects to report revenue between $953 million and $978 million, GAAP earnings per share of $0.39 to $0.44, and non-GAAP earnings per share of $0.83 to $0.88.” source
  • non-GAAP earnings per share third quarter of 2026 $0.83 to $0.88 Non-GAAP
    “For the third quarter of 2026, Trimble expects to report revenue between $953 million and $978 million, GAAP earnings per share of $0.39 to $0.44, and non-GAAP earnings per share of $0.83 to $0.88.” source
Show 4 more items
  • tax rate full-year 2026 about 145% GAAP
    “GAAP guidance assumes a tax rate of 145.0 percent and non-GAAP guidance assumes a tax rate of 17.3 percent.” source
  • tax rate full-year 2026 about 17.3% Non-GAAP
    “GAAP guidance assumes a tax rate of 145.0 percent and non-GAAP guidance assumes a tax rate of 17.3 percent.” source
  • tax rate third quarter of 2026 about 24% GAAP
    “GAAP guidance assumes a tax rate of 24.0 percent and non-GAAP guidance assumes a tax rate of 17.3 percent.” source
  • tax rate third quarter of 2026 about 17.3% Non-GAAP
    “GAAP guidance assumes a tax rate of 24.0 percent and non-GAAP guidance assumes a tax rate of 17.3 percent.” source

How earlier guidance turned out

  • GAAP earnings per share, second quarter of 2026 guided $0.38 to $0.42 Below range: $-2.02
  • revenue, second quarter of 2026 guided $938m to $963m Above range: $972m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Trimble Inc.'s revenue by +6.8% next year and +5.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+8.0%, weight 55%) , management guidance (+7.9%, weight 19%) and the company's own record (+3.5%, weight 26%) . How the weights are set.

Analyst recommendations

13 analysts, Oct 2026
Buy1292%
Hold18%
Sell00%

Monthly trend

  1. Oct 2026210113
  2. Sep 202629112
  3. Aug 202639113
  4. Jul 202639113

Counts of recommendations published by analysts covering Trimble Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.7%
of tradable shares
Days to cover
4.3
at average volume
Short interest, 1 month
+6%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.4%
of shares
Employees
11,500
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −17.4%

$79.75 on October 31, 2025 to $65.84

ThenNowEffect
Revenue (last 12 months) $3.6bn $3.8bn +5.8%
P/S multiple 5.5x 4.1x −24.4%
Share count 245m 238m +3.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +55.2%

$42.41 on November 3, 2023 to $65.84

ThenNowEffect
Revenue (last 12 months) $3.7bn $3.8bn +3.6%
P/S multiple 2.9x 4.1x +43.0%
Share count 249m 238m +4.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
TRMB+31%−42%+5%+33%+11%−16%
Industry peers (median)−8%−50%+19%+2%−21%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
TRMB67%33%50%50%50%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
TRMB−16%−44%−34%−23%−29%−40%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 57% from August 30, 2021 to November 13, 2023. Getting back needed a 135% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$48.87 – $83.52
From 52-week high
−21.2%
vs 50-day average
+9.8%
vs 200-day average
+8.4%
Volatility (1 year)
32%
Beta vs S&P 500
1.05

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±4.6%
After a week
7 up, 5 down
typical move ±7.1%
After a month
5 up, 7 down
typical move ±9.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 12, 2026 −0.8% +0.9% +2.2% −0.6%
May 6, 2026 −9.5% +1.1% −19.7% −20.7%
February 10, 2026 −2.7% −0.3% 0.0% −1.2%
November 5, 2025 +0.3% −0.7% +4.6% +6.3%
August 6, 2025 −0.2% +0.7% +2.1% −2.4%
May 7, 2025 +6.4% +1.1% +12.6% +14.1%
February 19, 2025 −2.6% −0.2% −5.0% −5.9%
November 6, 2024 +17.1% +3.3% +17.8% +21.5%
September 16, 2024 +3.2% +0.2% +3.7% +9.2%
August 6, 2024 +1.5% +0.2% +5.7% +12.0%
May 3, 2024 −6.5% +2.3% −5.5% −10.1%
April 12, 2024 −4.2% −2.6% −6.5% −8.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Trimble Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Trimble Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Trimble Inc.
$3.5B $3.6B $3.7B $3.8B $3.9B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $3.7B Revenue (TTM), FY23 Q4: $3.8B Revenue (TTM), FY24 Q1: $3.8B Revenue (TTM), FY24 Q2: $3.7B Revenue (TTM), FY24 Q3: $3.6B Revenue (TTM), FY24 Q4: $3.7B Revenue (TTM), FY25 Q1: $3.6B Revenue (TTM), FY25 Q2: $3.6B Revenue (TTM), FY25 Q3: $3.6B Revenue (TTM), FY25 Q4: $3.6B Revenue (TTM), FY26 Q1: $3.7B Revenue (TTM), FY26 Q2: $3.8B $3.8B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $3.7B
FY23 Q4 $3.8B
FY24 Q1 $3.8B
FY24 Q2 $3.7B
FY24 Q3 $3.6B
FY24 Q4 $3.7B
FY25 Q1 $3.6B
FY25 Q2 $3.6B
FY25 Q3 $3.6B
FY25 Q4 $3.6B
FY26 Q1 $3.7B
FY26 Q2 $3.8B
Revenue growth, TTM YoY Trimble Inc.
-10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -0.6% Revenue growth, TTM YoY, FY23 Q4: 3.3% Revenue growth, TTM YoY, FY24 Q1: 6.6% Revenue growth, TTM YoY, FY24 Q2: 1.7% Revenue growth, TTM YoY, FY24 Q3: -2.4% Revenue growth, TTM YoY, FY24 Q4: -3.0% Revenue growth, TTM YoY, FY25 Q1: -6.9% Revenue growth, TTM YoY, FY25 Q2: -3.7% Revenue growth, TTM YoY, FY25 Q3: -0.9% Revenue growth, TTM YoY, FY25 Q4: -2.6% Revenue growth, TTM YoY, FY26 Q1: 3.2% Revenue growth, TTM YoY, FY26 Q2: 5.8% 5.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -0.6%
FY23 Q4 3.3%
FY24 Q1 6.6%
FY24 Q2 1.7%
FY24 Q3 -2.4%
FY24 Q4 -3.0%
FY25 Q1 -6.9%
FY25 Q2 -3.7%
FY25 Q3 -0.9%
FY25 Q4 -2.6%
FY26 Q1 3.2%
FY26 Q2 5.8%
Operating margin (TTM) Trimble Inc.
10% 12% 14% 16% 18% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 12.1% Operating margin (TTM), FY23 Q4: 11.8% Operating margin (TTM), FY24 Q1: 11.0% Operating margin (TTM), FY24 Q2: 10.5% Operating margin (TTM), FY24 Q3: 10.6% Operating margin (TTM), FY24 Q4: 12.5% Operating margin (TTM), FY25 Q1: 12.6% Operating margin (TTM), FY25 Q2: 14.4% Operating margin (TTM), FY25 Q3: 15.3% Operating margin (TTM), FY25 Q4: 16.5% Operating margin (TTM), FY26 Q1: 17.3% Operating margin (TTM), FY26 Q2: 17.0% 17.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 12.1%
FY23 Q4 11.8%
FY24 Q1 11.0%
FY24 Q2 10.5%
FY24 Q3 10.6%
FY24 Q4 12.5%
FY25 Q1 12.6%
FY25 Q2 14.4%
FY25 Q3 15.3%
FY25 Q4 16.5%
FY26 Q1 17.3%
FY26 Q2 17.0%
FCF margin (TTM) Trimble Inc.
5% 10% 15% 20% 25% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 15.2% FCF margin (TTM), FY23 Q4: 14.6% FCF margin (TTM), FY24 Q1: 15.1% FCF margin (TTM), FY24 Q2: 14.1% FCF margin (TTM), FY24 Q3: 13.2% FCF margin (TTM), FY24 Q4: 13.5% FCF margin (TTM), FY25 Q1: 11.8% FCF margin (TTM), FY25 Q2: 8.0% FCF margin (TTM), FY25 Q3: 8.8% FCF margin (TTM), FY25 Q4: 10.1% FCF margin (TTM), FY26 Q1: 13.0% FCF margin (TTM), FY26 Q2: 20.4% 20.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 15.2%
FY23 Q4 14.6%
FY24 Q1 15.1%
FY24 Q2 14.1%
FY24 Q3 13.2%
FY24 Q4 13.5%
FY25 Q1 11.8%
FY25 Q2 8.0%
FY25 Q3 8.8%
FY25 Q4 10.1%
FY26 Q1 13.0%
FY26 Q2 20.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Trimble took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $3.6B
  2. Cost of revenue $1.1B · 30.9%
  3. Gross profit $2.5B · 69.1%
  4. Research and development $631M · 17.6%
  5. Selling, general and admin $1.1B · 31.5%
  6. Other operating costs $126M · 3.5%
  7. Operating income $592M · 16.5%
  8. Income tax $85.4M · 2.4%
  9. Interest and other $82.6M · 2.3%
  10. Net income $424M · 11.8%

Shares of revenue. Source: Trimble's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Jan 2010 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Jan 2014 2014 Jan 2015 2015 Jan 2016 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Jan 2020 2020 Jan 2021 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Jan 2025 2025 Jan 2026 LTM Jul 2026
Income
Revenue 1,126 1,294 1,644 2,040 2,288 2,396 2,290 2,362 2,654 3,132 3,271 3,152 3,659 3,676 3,799 3,683 3,587 3,783
Gross profit 550 646 830 1,046 1,204 1,291 1,202 1,235 1,378 1,681 1,781 1,755 2,035 2,106 2,333 2,396 2,478 2,640
EBITDA 105 146 177 236 278 294 191 217 270 356 415 460 602 683 699 693 792 845
Operating income 86 128 156 213 252 261 154 180 236 321 376 420 561 511 449 461 592 643
Net income 63 104 151 191 219 214 121 132 118 283 514 390 493 450 311 1,504 424 −105
Diluted EPS $0.26 $0.42 $0.60 $0.74 $0.84 $0.81 $0.47 $0.52 $0.46 $1.12 $2.03 $1.55 $1.94 $1.80 $1.25 $6.09 $1.76 −$0.44
Growth (year on year)
Revenue −15.3% +14.9% +27.1% +24.1% +12.2% +4.7% −4.4% +3.1% +12.4% +18.0% +4.4% −3.6% +16.1% +0.5% +3.3% −3.0% −2.6% +5.8%
EBITDA −48.8% +39.4% +21.3% +33.5% +17.8% +5.6% −35.0% +13.8% +24.3% +31.8% +16.6% +10.6% +31.1% +13.3% +2.4% −1.0% +14.3% +17.3%
Operating income −53.7% +48.7% +22.6% +35.9% +18.4% +3.6% −40.8% +16.8% +30.7% +36.1% +17.2% +11.7% +33.6% −8.9% −12.2% +2.7% +28.5% +24.7%
Net income −55.2% +63.4% +45.4% +26.7% +14.6% −2.2% −43.4% +9.3% −10.6% +138.9% +81.9% −24.2% +26.4% −8.7% −30.8% +383.3% −71.8% −136.5%
Diluted EPS −54.4% +61.5% +42.9% +23.3% +13.5% −3.6% −42.0% +10.6% −11.5% +143.5% +81.3% −23.6% +25.2% −7.2% −30.6% +387.2% −71.1% −137.7%
Margins
Gross margin 48.8% 49.9% 50.5% 51.3% 52.6% 53.9% 52.5% 52.3% 51.9% 53.7% 54.4% 55.7% 55.6% 57.3% 61.4% 65.1% 69.1% 69.8%
EBITDA margin 9.3% 11.3% 10.8% 11.6% 12.2% 12.3% 8.3% 9.2% 10.2% 11.4% 12.7% 14.6% 16.5% 18.6% 18.4% 18.8% 22.1% 22.3%
Operating margin 7.6% 9.9% 9.5% 10.4% 11.0% 10.9% 6.7% 7.6% 8.9% 10.2% 11.5% 13.3% 15.3% 13.9% 11.8% 12.5% 16.5% 17.0%
Net margin 5.6% 8.0% 9.2% 9.4% 9.6% 8.9% 5.3% 5.6% 4.5% 9.0% 15.7% 12.4% 13.5% 12.2% 8.2% 40.8% 11.8% −2.8%
Free-cash-flow margin 16.2% 7.8% 13.3% 14.0% 15.0% 15.0% 13.7% 17.1% 14.5% 13.4% 15.8% 19.5% 19.2% 9.5% 14.6% 13.5% 10.1% 20.4%
Cash flow
Cash from operations 195 124 242 341 415 407 357 431 430 487 585 672 751 391 597 531 386 799
Capital spending 13 23 23 54 71 47 44 26 44 68 69 57 46 43 42 34 25 26
Free cash flow 182 101 218 287 344 360 313 405 386 419 516 615 704 348 555 498 361 773
Stock-based pay 19 23 28 33 37 43 50 53 65 77 75 83 123 120 145 159 147 163
Free cash flow after stock pay 163 78 190 254 307 316 263 353 321 342 441 532 582 228 410 339 214 611
Balance sheet
Cash 274 221 155 158 147 148 116 216 359 173 189 238 326 271 230 739 253 214
Total debt 151 — 564 911 758 742 735 625 918 1,982 2,062 1,803 1,293 1,820 3,597 1,391 1,392 1,459
Net debt (negative = net cash) −122 −221 410 753 611 594 619 409 560 1,809 1,873 1,565 968 1,549 3,367 652 1,139 1,245
Diluted shares 244m 248m 252m 257m 261m 265m 259m 254m 257m 253m 253m 252m 254m 250m 249m 247m 242m 238m
Returned to shareholders
Buybacks — 74 0 0 0 98 234 120 285 93 180 82 180 395 100 175 863 515
Total returned — 74 0 0 0 98 234 120 285 93 180 82 180 395 100 175 863 515

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 7 checks passed · July 3, 2026
What it owns · $8.5bn
Short-term assets $1.3bnLonger-term assets $7.2bn
What it owes, and who funded it · $8.5bn
Short-term liabilities $1.4bnLonger-term liabilities $2.0bnShareholders' equity $5.1bn
  • Short-term assets cover short-term liabilities $1.3bn of assets due within a year against $1.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.3bn short-term assets against $2.0bn of longer-dated liabilities.
  • More cash than debt $214m of cash against $1.5bn of debt.
  • Debt below 40% of shareholders' equity Debt is 29% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 33% to 29% over five years.
  • A year's operating cash flow covers at least 20% of debt $799m of operating cash flow against $1.5bn of debt.
  • Operating profit covers interest at least five times over Operating income of $643m against $80m of interest.

From Trimble Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$515M
Returned to shareholders
67%
of free cash flow
Buybacks, last 3 fiscal years
$1.1B
Diluted share count
−3.1%
year over year
Total shareholder yield
3.4%
dividends 0.0% + buybacks 3.4% of market value
R&D spending
17.3%
of revenue
Days sales outstanding
58 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated TRMB DDOG HUBS GRAB DOCU TTD Median
Revenue, last 12 months $3.8bn $4.0bn $3.4bn $3.4bn $3.4bn $3.0bn $482m
Revenue growth, last 12 months 5.8% 31.5% 21.1% 20.5% 8.6% 11.6% 12.0%
Revenue growth, 3-year average 1.2% 27.9% 21.1% — 8.2% 19.9% 11.1%
Revenue growth, latest quarter 11.0% 35.6% 19.8% — 9.4% 3.0% 11.9%
Gross margin 69.8% 79.5% 83.2% 43.2% 79.5% 76.9% 69.2%
Operating margin 17.0% 0.4% 3.8% 1.9% 12.0% 19.6% 1.1%
Operating margin, 3-year average 14.0% 0.6% −0.8% — 7.9% 17.1% −0.8%
Net margin −2.8% 4.5% 4.3% 8.0% 9.8% 13.6% 2.1%
Cash from operations / revenue 21.1% 31.0% 24.8% 2.3% 39.4% 36.2% 18.2%
Free-cash-flow margin 20.4% 29.8% 23.1% −0.5% 35.7% 28.4% 15.0%
Free-cash-flow margin, 3-year average 14.2% 30.1% 20.7% — 32.7% 26.1% 16.2%
Stock pay / revenue 4.3% 20.7% 14.9% 7.2% 18.0% 15.1% 9.3%
Change in share count −3.1% 1.7% 0.7% 5.3% −5.3% −4.3% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 5.8% 12.0% 127 of 184
Change in growth rate Growth +2.6pp +0.2pp 47 of 184
Gross margin Profitability 69.8% 69.8% 80 of 160
Operating margin Profitability 17.0% 1.1% 39 of 181
Net margin Profitability -2.8% 2.1% 107 of 185
Free-cash-flow margin Cash generation 20.4% 15.2% 73 of 180
Stock pay as % of revenue Cash generation 4.3% 9.3% 35 of 177
Long-term debt as % of assets Balance sheet 16.9% 16.9% 50 of 98
Change in share count Balance sheet -3.1% 1.7% 31 of 163
Days sales outstanding Balance sheet 58 days 57 days 85 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to January 2, 2026
Segments
Line of business Revenue Share YoY
Field Systems $1.5B 42.9% ▲ 0.2%
Architects Engineers Construction and Owners $1.5B 41.8% ▲ 10.3%
Transportation and Logistics $549M 15.3% ▼ 30.4%
Products and services
Line of business Revenue Share YoY
Subscription and Services $2.5B 68.4% ▲ 2.2%
Products $1.1B 31.6% ▼ 11.6%
Geography
Region Revenue YoY
North America $2.1B ▼ 0.1%
United States $1.9B ▼ 0.3%
Europe $1B ▼ 2.7%
Asia Pacific $350M ▼ 4.2%
Restof World $140M ▼ 25.9%

These categories overlap or exclude eliminations, so shares aren't shown.

From Trimble Inc.'s 10-K filed February 25, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$12B
Institutions reporting
704
Shares held vs prior quarter
▲ 6.4%
Positions opened / closed
53 / 131

Top buyers and sellers, Q2 2026: 296 institutions bought and 442 sold ; the biggest buyer was Ameriprise Financial Inc (+10.2M shares) and the biggest seller Boston Partners (−2.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.1B 21.4M 9.1% ▲ 10.0%
Vanguard Capital Management LLC $780M 15.2M 6.5% ▼ 0.7%
Ameriprise Financial Inc $649M 12.7M 5.4% ▲ 418.4%
Vanguard Portfolio Management LLC $620M 12.1M 5.2% ▼ 2.7%
State Street Corp $596M 11.6M 5.0% ▲ 7.9%
Morgan Stanley $477M 9.3M 4.0% ▼ 7.8%
Invesco Ltd. $377M 7.4M 3.1% ▲ 49.8%
Generation Investment Management LLP $368M 7.2M 3.1% ▼ 7.6%
Geode Capital Management, LLC $338M 6.6M 2.8% ▲ 2.4%
Select Equity Group, L.P. $260M 5.1M 2.2% ▼ 9.4%
Arrowstreet Capital, Limited Partnership $230M 4.5M 1.9% ▲ 191.6%
Sumitomo Mitsui Trust Group, Inc. $228M 4.4M 1.9% ▲ 18.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Trimble Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $5.5M 16 trades by 6 insiders · 100% under pre-set plans
Net ▼ $5.5M net selling
Insider Date Trade Shares Price Value
Gabriel Kaigham Director October 29, 2026 Sell pre-set plan 2,476 $65.00 $160,940
Gabriel Kaigham Director August 4, 2026 Sell pre-set plan 1,718 $60.00 $103,080
Schwartz Mark David Senior VP, AECO April 16, 2026 Sell pre-set plan 8,442 $67.01 $565,698
Schwartz Mark David Senior VP, AECO April 16, 2026 Sell pre-set plan 8,283 $67.01 $555,044
Painter Robert G President & CEO April 14, 2026 Sell pre-set plan 7,500 $66.94 $502,050
Painter Robert G President & CEO March 10, 2026 Sell pre-set plan 7,500 $70.45 $528,375
Dalton James Calvin Director February 27, 2026 Sell pre-set plan 733 $67.02 $49,126
Painter Robert G President & CEO February 10, 2026 Sell pre-set plan 7,500 $65.14 $488,550
Painter Robert G President & CEO January 13, 2026 Sell pre-set plan 7,500 $80.88 $606,600
Sawarynski Phillip CFO December 16, 2025 Sell pre-set plan 2,250 $80.45 $181,012
Painter Robert G President & CEO December 9, 2025 Sell pre-set plan 7,500 $81.39 $610,425
Dalton James Calvin Director November 28, 2025 Sell pre-set plan 616 $81.99 $50,506

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 18 trades and filings

In the last 12 months, 2 members of Congress disclosed 1 purchase and 4 sales of Trimble Inc. shares.

  • April McClain Delaney(D-MD 6):Sale (full), $100,001 - $250,000, traded August 25, 2026, filed September 9, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (full), $1,001 - $15,000, traded May 15, 2026, filed June 8, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded April 14, 2026, filed May 8, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • August 12, 2026
  • May 6, 2026
  • February 10, 2026
  • November 5, 2025
  • August 6, 2025
  • May 7, 2025

Recent SEC filings

Data status

When each part of this page on Trimble Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Trimble Inc. in brief

What does Trimble Inc. do?
Trimble Inc. is a US-listed company in the application software industry. Its financial year ends in December.
What is Trimble Inc.'s stock ticker?
Trimble Inc. trades under the ticker TRMB on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Trimble Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Trimble Inc. reported revenue of $3.8B, 5.8% higher than a year earlier, according to its SEC filings.
What is Trimble Inc.'s free cash flow?
Trimble Inc.'s free-cash-flow margin is 20.4% of revenue over the trailing twelve months, ranking 73 of the 180 application software companies we cover.
What is Trimble Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Trimble Inc.'s free cash flow after stock-based pay gives ~$32 per share in the base case, and ~$23–$45 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Trimble Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Ameriprise Financial Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Trimble Inc. buying back stock, and does it pay a dividend?
Trimble Inc. spent $515M on share repurchases over the trailing twelve months, and its diluted share count fell 3.1% over the year.
What is Trimble Inc.'s market cap?
On November 2, 2026, Trimble Inc.'s market capitalisation was about $15.6B and net debt of $1.2B. Market figures come from third-party market data and may be delayed.
How much debt does Trimble Inc. have?
Trimble Inc.'s debt-to-equity ratio is 28.6%, from its latest balance sheet (32.8% five years earlier). The financial health section below sets out its other solvency checks.
Who are Trimble Inc.'s competitors?
In our Application Software peer group, the companies closest to Trimble Inc. are Datadog, Inc., Hubspot Inc, Grab Holdings Ltd, Docusign, Inc. and Trade Desk, Inc. The side-by-side comparison below sets their revenue, margins and growth against Trimble Inc.'s.
Are insiders buying or selling Trimble Inc. stock?
Over the last 12 months, Trimble Inc.'s directors and officers reported 0 open-market purchases and 16 sales on Form 4. The insider trading page charts every trade.
When is Trimble Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Trimble Inc. announces its own schedule.