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Trimble
(NASDAQ:TRMB)
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Rating:66Neutral
Price Target:
$62.00
▲(4.32% Upside)
Action:Reiterated
Date:10/03/26
The score is led by a strong and improving forward outlook from the latest earnings call (raised revenue/EPS guidance, ARR growth, and margin expansion toward ~30% EBITDA with significant capital returns). Offsetting this, recent TTM profitability remains weak/negative despite strong gross margins and solid cash generation, while technical indicators show neutral-to-soft momentum and valuation is challenged by negative earnings and no stated dividend yield.
Positive Factors
Recurring Revenue Growth
A record and expanding ARR base increases revenue visibility and supports durable customer relationships. Growth across major segments, particularly AECO, indicates that recurring adoption is broad rather than dependent on one isolated product or market.
Negative Factors
Weak Reported Profitability
Negative TTM earnings and thin operating profitability weaken confidence in the quality and durability of current returns, despite strong gross margins. Sustained margin volatility could limit internal funding capacity and make future performance more dependent on successful execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Revenue Growth
A record and expanding ARR base increases revenue visibility and supports durable customer relationships. Growth across major segments, particularly AECO, indicates that recurring adoption is broad rather than dependent on one isolated product or market.
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
$14.01B
Dividend YieldN/A
Average Volume (3M)3.15M
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. Volume2,380,915
30 Day Avg. Volume3,154,229
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 Cap0.97
Enterprise Value/Revenue3.60
Enterprise Value/Gross Profit5.26
Enterprise Value/Ebitda48.91
Forecast
1Y Price Target
$75.20Price Target Upside26.54% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
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 primarily by selling and subscribing customers to a mix of software, services, and enabling hardware that support end-to-end industry workflows. Key revenue streams include: (1) Software and subscriptions: Trimble sells term-ba...
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 | 278.10M | 783.70M | 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
Positive
59.43
Price Trends
58.59
Positive
55.84
Positive
62.16
Negative
Market Momentum
0.43
Negative
58.36
Neutral
72.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TRMB, the sentiment is Positive. The current price of 59.43 is above the 20-day moving average (MA) of 58.42, above the 50-day MA of 58.59, and below the 200-day MA of 62.16, indicating a neutral trend. The MACD of 0.43 indicates Negative momentum. The RSI at 58.36 is Neutral, neither overbought nor oversold. The STOCH value of 72.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | $51.75B | 27.52 | 21.00% | 1.45% | 13.51% | 19.53% | |
81 Outperform | $3.75B | 14.08 | 16.52% | ― | -5.69% | 2.02% | |
77 Outperform | $28.45B | 29.55 | 9.13% | ― | 7.70% | 13.95% | |
74 Outperform | $215.13B | 41.54 | 37.21% | 0.57% | 54.17% | 59.57% | |
66 Neutral | $14.01B | -127.36 | -1.87% | ― | 5.80% | -140.22% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | $61.22B | 72.26 | 8.37% | 5.73% | 22.51% | ― |
* Technology Sector Average
TRMB
Trimble
60.09
-16.97
-22.02%
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GRMN
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COHR
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312.62
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ITRI
Itron
85.58
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TDY
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613.66
45.84
8.07%
Trimble Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Trimble Establishes New $500 Million Credit Facility
Positive
Oct 2, 2026
On October 2, 2026, Trimble Inc. entered into a new unsecured delayed draw term loan credit agreement with Bank of America and a syndicate of lenders, establishing a facility of up to $500 million for general corporate purposes. As of that date no...
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.