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Trimble
(NASDAQ:TRMB)
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Rating:66Neutral
Price Target:
$66.00
▲(11.06% Upside)
Action:Downgraded
Date:08/17/26
TRMB scores as moderately attractive, led by solid cash generation and improving leverage, plus a strong earnings-call read-through with raised guidance, ARR growth, and margin expansion. The main offsets are the recent GAAP profitability weakness reflected in the financial statement scores, a technically mixed longer-term trend (below the 200DMA), and unfavorable valuation signals due to a negative P/E and no dividend yield support.
Positive Factors
Recurring revenue growth
Record ARR and double-digit growth increase revenue visibility and deepen customer workflow integration. Expansion in AECO and other segments supports durable subscription growth, cross-selling, and retention across Trimble’s connected industry platforms.
Negative Factors
Weak reported profitability
Negative net income and thin EBIT show that strong gross margins have not yet translated consistently into operating earnings. This weakens earnings quality and capital efficiency, making sustained margin conversion a key execution requirement.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue growth
Record ARR and double-digit growth increase revenue visibility and deepen customer workflow integration. Expansion in AECO and other segments supports durable subscription growth, cross-selling, and retention across Trimble’s connected industry platforms.
Read all positive factors
Trimble Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down sales by region (e.g., North America, EMEA, APAC), revealing where Trimble’s demand is strongest and where it faces economic or currency risk. High concentration in one region increases vulnerability to local slowdowns, while broad international growth signals expansion opportunities and diversification of revenue sources.
Breaks down sales by region (e.g., North America, EMEA, APAC), revealing where Trimble’s demand is strongest and where it faces economic or currency risk. High concentration in one region increases vulnerability to local slowdowns, while broad international growth signals expansion opportunities and diversification of revenue sources.
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The Fly
The FlyTrimble (TRMB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.25B
Dividend YieldN/A
Average Volume (3M)3.42M
Price to Earnings (P/E)―
Beta (1Y)1.24
Revenue Growth5.80%
EPS Growth-140.22%
CountryUS
Employees11,500
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-0.47
Shares Outstanding233,179,860
10 Day Avg. Volume4,755,072
30 Day Avg. Volume3,419,760
Financial Highlights & Ratios
PEG Ratio-0.62
Price to Book (P/B)3.19
Price to Sales (P/S)5.18
P/FCF Ratio139.61
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$77.80Price Target Upside30.91% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)3.67
Revenue Forecast (FY)$3.93B
Trimble Business Overview & Revenue Model
Company Description
Trimble Inc. develops and supplies technology solutions globally, empowering professionals and field workers to significantly improve or revolutionize their operational workflows. Through its Buildings and Infrastructure segment, the company deliv...
How the Company Makes Money
Trimble makes money by selling a mix of software, services/subscriptions, and hardware-enabled solutions that are typically deployed as integrated systems. Key revenue streams include: (1) Software and subscriptions: Recurring revenue from cloud a...
Trimble Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational performance: double-digit organic ARR growth, record ARR, margin expansion, robust free cash flow, accelerated AI and platform momentum (Trimble Connect), and a raised FY revenue and EPS midpoint. Near-term challenges include a planned Field Systems product transition causing a modest ARR headwind (400–500 bps in the segment, ~100 bps company-level), discrete tariff refunds in Q2, one-time costs reducing FCF conversion, and a board review of the Transportation & Logistics portfolio that introduces strategic uncertainty. On balance, the positive beats, record ARR, margin progress, capital returns, and AI-driven product momentum materially outweigh the isolated near-term headwinds.Positive Updates
Top- and Bottom-Line Beat with Strong Organic Growth
Q2 revenue $972M with 10% organic growth, beating guidance; raised FY midpoint revenue by $50M to $3.925B (~9% growth).
Negative Updates
Field Systems ARR Transition Creates Near-Term Headwind
Decision to replace a white-label Field Systems product with an internally developed solution creates a 400–500 bps headwind to Field Systems ARR growth (Field Systems ARR base ~ $400M) — implying roughly $16M–$20M ARR impact this year and ~100 bps company-level ARR headwind.
Read all updates
Q2-2026 Updates
Positive
Negative
Top- and Bottom-Line Beat with Strong Organic Growth
Q2 revenue $972M with 10% organic growth, beating guidance; raised FY midpoint revenue by $50M to $3.925B (~9% growth).
Read all positive updates
Company Guidance
Trimble raised its 2026 midpoints, increasing full‑year revenue by $50 million to $3.925 billion (≈9% y/y) and EPS by $0.10 to $3.65 (≈17% y/y), now targeting EBITDA margins of approximately 30% (the high end of prior guidance and the 2027 target achieved a year early); ARR is expected toward the low‑to‑mid end of the range after a Field Systems ARR adjustment to high single‑digit to low double‑digit growth (a one‑time ~400–500 bp headwind to Field Systems ARR, ≈<100 bp at the company level), and free cash flow is now expected at ~0.9x non‑GAAP net income (down from ~1x due to incremental restructuring/onetime costs) with the company saying FCF should exceed non‑GAAP net income over the long term. For Q3 the midpoints are $965 million revenue (≈7% growth), $0.85 EPS, 12% ARR growth and 28.6% EBITDA margin. These raises are supported by strong Q2 results (organic revenue +10% to $972M, ARR +12% to a record $2.509B, AECO ARR $1.577B +14%, Field Systems ARR $399M +12%, T&L ARR $533M +7%, gross margin 71.8% +120 bps, EBITDA margin 28.6% +120 bps, Q2 EPS $0.86, YTD free cash flow $502M, cash $214M, leverage 1.1x) and a new $1 billion share repurchase authorization.Trimble Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
74
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.78B | 3.59B | 3.68B | 3.80B | 3.68B | 3.66B |
| Gross Profit | 2.59B | 2.45B | 2.40B | 2.33B | 2.11B | 2.03B |
| EBITDA | 263.20M | 763.70M | 2.33B | 768.60M | 747.40M | 819.90M |
| Net Income | -104.70M | 424.00M | 1.50B | 311.30M | 449.70M | 492.80M |
Balance Sheet | ||||||
| Total Assets | 8.54B | 9.31B | 9.49B | 9.54B | 7.27B | 7.10B |
| Cash, Cash Equivalents and Short-Term Investments | 214.40M | 253.40M | 738.80M | 229.80M | 271.00M | 325.70M |
| Total Debt | 1.46B | 1.39B | 1.54B | 3.19B | 1.63B | 1.45B |
| Total Liabilities | 3.43B | 3.48B | 3.74B | 5.04B | 3.22B | 3.15B |
| Stockholders Equity | 5.11B | 5.84B | 5.75B | 4.50B | 4.05B | 3.94B |
Cash Flow | ||||||
| Free Cash Flow | 545.40M | 133.20M | 497.80M | 555.10M | 348.00M | 704.40M |
| Operating Cash Flow | 799.10M | 386.20M | 531.40M | 597.10M | 391.20M | 750.50M |
| Investing Cash Flow | -255.10M | -37.00M | 1.86B | -2.07B | -226.30M | -203.50M |
| Financing Cash Flow | -588.20M | -868.40M | -1.86B | 1.43B | -199.00M | -447.70M |
Trimble Technical Analysis
Negative
59.43
Price Trends
56.57
Positive
56.82
Positive
64.45
Negative
Market Momentum
0.29
Positive
47.53
Neutral
9.86
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TRMB, the sentiment is Negative. The current price of 59.43 is above the 20-day moving average (MA) of 59.00, above the 50-day MA of 56.57, and below the 200-day MA of 64.45, indicating a neutral trend. The MACD of 0.29 indicates Positive momentum. The RSI at 47.53 is Neutral, neither overbought nor oversold. The STOCH value of 9.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TRMB.
Trimble Risk Analysis
Trimble disclosed 29 risk factors in its most recent earnings report. Trimble reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Trimble Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | $52.49B | 28.99 | 21.00% | 1.38% | 13.51% | 19.53% | |
81 Outperform | $4.10B | 15.39 | 16.52% | ― | -5.69% | 2.02% | |
77 Outperform | $27.65B | 29.07 | 9.13% | ― | 7.70% | 13.95% | |
74 Outperform | $197.89B | 39.96 | 37.21% | 0.79% | 54.17% | 59.57% | |
66 Neutral | $13.25B | -122.68 | -1.87% | ― | 5.80% | -140.22% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | $57.41B | 70.20 | 8.37% | 5.73% | 22.51% | ― |
* Technology Sector Average
TRMB
Trimble
57.66
-23.35
-28.82%
APH
Amphenol
83.92
24.70
41.72%
GRMN
Garmin
282.67
50.67
21.84%
COHR
Coherent Corp
305.37
199.03
187.16%
ITRI
Itron
93.55
-26.62
-22.15%
TDY
Teledyne Technologies
603.79
47.13
8.47%
Trimble Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
Trimble boosts guidance and launches $1B buyback program
Positive
Aug 12, 2026
On Aug. 12, 2026, Trimble reported second-quarter 2026 revenue of $972.0 million, up 11% year over year, and record annualized recurring revenue of $2.51 billion, alongside record gross margins and adjusted EBITDA of $278.0 million. Despite a GAAP...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.