Trimble (TRMB)
Information Technology · $13.7B market cap · SEC CIK 0000864749
fundamentals score out of 100
Next reports on Nov 3, 2026, with analysts expecting $0.88 in earnings per share.
The case for TRMB
- Gross margin of 71% absorbs cost shocks.
The case against
- Losing money over the last year: net margin -1.6%, return on equity -1%.
- Pricey at 32.4× earnings, against a long-run market average nearer 20×.
- Down 30.2% over the past year.
- Revenue has shrunk 0.4% a year over five years.
- Current liabilities exceed current assets (ratio 0.95).
- Long-term debt of $1.4B against $253M of cash.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Information Technology companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 59 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 26 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 20 |
| Momentumhow the price has behaved lately | 42 |
| Stabilityhow violently it moves, what it owes and what it pays you | 46 |
- The P/E (32.4×) says it made money over the last year but its net margin (-1.6%) says it lost money, so the P/E is not counted in its favour.
- Each factor except momentum is half fixed thresholds, half rank among the 73 Information Technology companies.
Key numbers
| Price / earnings | 32.4× |
|---|---|
| Price / book | 2.42× |
| Price / sales | 3.6× |
| Revenue growth (YoY) | +7.7% |
| EPS growth (YoY) | — |
| Gross margin | 71% |
| Operating margin | 4% |
| Net margin | -2% |
| Return on equity | -1% |
| Debt / equity | 0.29× |
| Current ratio | 0.95 |
| Dividend yield | none |
| Beta | 1.35 |
| 52-week range | $47.92 – $84.42 |
| Position in that range | 31% of the way up |
| 3-month return | +17.5% |
| 1-year return | -30.2% |
Five years of financials, as filed
Pulled from Trimble's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $3.6B | $3.7B | $3.8B | $3.7B | $3.7B |
| Gross profit | $2.5B | $2.4B | $2.3B | $2.1B | $2.0B |
| Operating income | $592M | $461M | $449M | $511M | $561M |
| Net income | $424M | $1.5B | $311M | $450M | $493M |
| Operating cash flow | $386M | $531M | $597M | $391M | $751M |
| Capital expenditure | $25.3M | $33.6M | $42.0M | $43.2M | $46.1M |
| Total assets | $9.3B | $9.5B | $9.5B | $7.3B | $7.1B |
| Total liabilities | $3.5B | $3.7B | $5.0B | $3.2B | $3.2B |
| Shareholder equity | $5.8B | $5.7B | $4.5B | $4.1B | $3.9B |
| Cash | $253M | $739M | $230M | $271M | $326M |
| Long-term debt | $1.4B | $1.4B | $2.5B | $1.2B | $1.3B |
| Free cash flow | $361M | $498M | $555M | $348M | $704M |
| Gross margin | 69.1% | 65.1% | 61.4% | 57.3% | 55.6% |
| Operating margin | 16.5% | 12.5% | 11.8% | 13.9% | 15.3% |
| Net margin | 11.8% | 40.8% | 8.2% | 12.2% | 13.5% |
| Diluted shares | 242M | 247M | 249M | 250M | 254M |
Share count is down 5.0% over 4 years. Buybacks have been shrinking the pie.
What Trimble says it does
Trimble is a leading technology solutions and platform provider, enabling office professionals and field workers to connect their workflows and industry lifecycles, driving a more productive, efficient, and sustainable future. With a focus on the industries that build, maintain, and move the world, the comprehensive depth and breadth of our solutions are transforming the way the world works, making it easier for Trimble customers to focus on what matters—getting the job done right. We innovate at the intersection of the digital and physical worlds with solutions that span the world’s foundational industries, including building, civil and infrastructure construction, geospatial, natural resources, utilities, and transportation. We exist to empower our customers: asset owners; general and specialty contractors; architects, engineers, and designers; surveyors; energy and utility companies; transportation shippers and carriers; as well as…
Risk factors TRMB lists in its 10-K
- We operate globally and are subject to significant risks in many jurisdictions, including risks related to adverse economic, political, regulatory, and other global and regional conditions
- We have experienced disruption in our supply chain and related events, and are subject to ongoing supply chain risks
- If we are unable to effectively integrate, streamline, and manage our diverse and complex businesses and operations, our ability to generate growth and revenue from new or existing customers may be adversely affected
- Changes in our software and subscription businesses may adversely affect our revenue
- We may not be able to continue to enter into or maintain important alliances and distribution relationships
- Investing in and integrating new acquisitions or divesting businesses could be costly, place a significant strain on our management systems and resources, or fail to deliver expected outcomes
- We face substantial competition in our markets, which could decrease our revenue and growth rates
- If we are unable to attract and retain qualified personnel, our business could be harmed
- Risks related to our technology and products
- Our products are highly technical and may contain undetected errors, product defects, or security vulnerabilities
- Our internal and customer-facing systems, and systems of third parties we rely upon, may be subject to cybersecurity breaches, disruptions, or delays
- Our use of artificial intelligence, or AI, and generative AI tools presents risks and challenges that could adversely affect our business and require that we incur substantial costs
- Some of our products rely on third-party technologies including open-source software, which could result in product incompatibilities or harm availability of our products and services
- We are dependent on proprietary technology, which could result in litigation that could divert significant valuable resources