Trimble Inc. (TRMB)
NASDAQ:TRMB
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Trimble
(NASDAQ:TRMB)
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Rating:69Neutral
Price Target:
$60.00
▼(-13.41% Downside)
Action:Reiterated
Date:05/09/26
TRMB scores as above-average primarily on solid underlying financial performance and a notably positive earnings update (beats, raised guidance, ARR and margin progress, strong FCF and buybacks). Offsetting those positives are weak technical momentum (price below major moving averages with negative MACD) and a demanding valuation (P/E ~38.6 with no dividend yield provided).
Positive Factors
Recurring revenue / ARR momentum
Sustained ARR growth (13% YoY to $2.435B) points to a larger recurring revenue base and higher revenue visibility. A rising ARR supports predictable cash flows, higher customer lifetime value and organic upsell/expansion opportunities across Trimble’s industry verticals over multi‑year horizons.
Negative Factors
Variable free cash flow conversion
While FCF is positive, conversion is inconsistent (~50% of net income) and volatile across years. This limits predictable internal funding for growth and makes capital returns or acquisition financing more dependent on timing, increasing execution risk over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue / ARR momentum
Sustained ARR growth (13% YoY to $2.435B) points to a larger recurring revenue base and higher revenue visibility. A rising ARR supports predictable cash flows, higher customer lifetime value and organic upsell/expansion opportunities across Trimble’s industry verticals over multi‑year horizons.
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
$13.05B
Dividend YieldN/A
Average Volume (3M)2.09M
Price to Earnings (P/E)38.6
Beta (1Y)1.30
Revenue Growth3.25%
EPS Growth-68.85%
CountryUS
Employees12,100
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)1.92
Shares Outstanding233,111,530
10 Day Avg. Volume2,882,918
30 Day Avg. Volume2,090,605
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 Cap1.10
Enterprise Value/Revenue3.88
Enterprise Value/Gross Profit5.70
Enterprise Value/Ebitda17.57
Forecast
1Y Price Target
$88.43Price Target Upside27.62% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)3.58
Revenue Forecast (FY)$3.89B
Trimble Business Overview & Revenue Model
Company Description
Trimble Inc. provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for route sel...
How the Company Makes Money
Trimble primarily makes money by selling and subscribing customers to technology solutions that combine (1) software (increasingly delivered as cloud/SaaS subscriptions), (2) connected hardware and devices, and (3) recurring services and support. ...
Trimble Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive operational and financial quarter: solid top-line beats, record ARR, margin expansion, strong free cash flow and meaningful capital returns. Segment performance (notably AECO, Field Systems and Transportation) and strategic moves in AI and M&A (Document Crunch, SketchUp-Claude integration) reinforce growth and monetization pathways. Offsetting factors include reduced visibility in hardware, near-term OpEx timing pressures in Field Systems, and macro/geopolitical risks that introduced conservatism into guidance. On balance, the positive results, raised guidance and strategic progress materially outweigh the near-term risks and conservatism.Positive Updates
Top-line Beat and ARR Growth
Q1 revenue $940M, up 12% year-over-year; ARR $2.435B, up 13% year-over-year (record ARR) — both ahead of expectations and driving recurring revenue momentum.
Negative Updates
Hardware Visibility and Conservatism
Management cited reduced visibility in the hardware business (Field Systems) and conservative assumptions for the back half due to tougher comps and macro uncertainty, limiting a larger full-year guide raise despite a strong Q1 beat (only $15M added to FY midpoint).
Read all updates
Q1-2026 Updates
Positive
Negative
Top-line Beat and ARR Growth
Q1 revenue $940M, up 12% year-over-year; ARR $2.435B, up 13% year-over-year (record ARR) — both ahead of expectations and driving recurring revenue momentum.
Read all positive updates
Company Guidance
Trimble raised and affirmed 2026 guidance with a full‑year revenue midpoint of $3.875 billion (a $15M raise, ~8% growth), EPS guidance of $3.55, midpoint ARR growth of 13%, and expected EBITDA margins of 29.7%; management also guided Q2 midpoints of $950 million revenue (~7.5% growth), $0.80 EPS, 13% ARR growth and a 27.7% EBITDA margin (30 bps y/y expansion), and said free cash flow should be approximately 1x non‑GAAP net income with a goal of FCF > non‑GAAP net income over the long term. Those targets lean on a strong Q1 print—revenue $940M (+12%), record ARR $2.435B (+13%), reported EPS $0.79 (above the high end), gross margin 71%, EBITDA margin 27.4% (+150 bps), FCF $275M, $234M cash and 1.1x leverage—and management reiterated the Investor Day 2027 objectives of $3B ARR, $4B revenue and 30% EBITDA margins.Trimble Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
80
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.69B | 3.59B | 3.68B | 3.80B | 3.68B | 3.66B |
| Gross Profit | 2.51B | 2.45B | 2.40B | 2.33B | 2.11B | 2.03B |
| EBITDA | 814.70M | 763.70M | 2.33B | 768.60M | 747.40M | 819.90M |
| Net Income | 456.20M | 424.00M | 1.50B | 311.30M | 449.70M | 492.80M |
Balance Sheet | ||||||
| Total Assets | 8.99B | 9.31B | 9.49B | 9.54B | 7.27B | 7.10B |
| Cash, Cash Equivalents and Short-Term Investments | 234.10M | 253.40M | 738.80M | 229.80M | 271.00M | 325.70M |
| Total Debt | 1.41B | 1.39B | 1.51B | 3.19B | 1.63B | 1.41B |
| Total Liabilities | 3.35B | 3.48B | 3.74B | 5.04B | 3.22B | 3.15B |
| Stockholders Equity | 5.64B | 5.84B | 5.75B | 4.50B | 4.05B | 3.94B |
Cash Flow | ||||||
| Free Cash Flow | 252.80M | 133.20M | 497.80M | 555.10M | 348.00M | 704.40M |
| Operating Cash Flow | 505.30M | 386.20M | 531.40M | 597.10M | 391.20M | 750.50M |
| Investing Cash Flow | -27.60M | -37.00M | 1.86B | -2.07B | -226.30M | -203.50M |
| Financing Cash Flow | -543.20M | -868.40M | -1.86B | 1.43B | -199.00M | -447.70M |
Trimble Technical Analysis
Negative
69.29
Price Trends
64.10
Negative
67.50
Negative
73.94
Negative
Market Momentum
-3.03
Positive
32.33
Neutral
46.54
Neutral
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 69.29 is above the 20-day moving average (MA) of 60.85, above the 50-day MA of 64.10, and below the 200-day MA of 73.94, indicating a bearish trend. The MACD of -3.03 indicates Positive momentum. The RSI at 32.33 is Neutral, neither overbought nor oversold. The STOCH value of 46.54 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | $28.13B | 30.13 | 8.85% | ― | 7.74% | 12.76% | |
76 Outperform | $57.89B | 43.36 | 17.44% | ― | 19.19% | 42.75% | |
73 Outperform | $48.02B | 27.82 | 17.26% | ― | 8.14% | 10.64% | |
69 Neutral | $13.05B | 38.60 | 7.95% | ― | 3.25% | -68.85% | |
69 Neutral | $37.60B | 31.64 | 58.99% | 0.14% | 19.00% | 78.70% | |
63 Neutral | $17.99B | 31.82 | 7.39% | 0.43% | -23.36% | -26.77% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
TRMB
Trimble
56.34
-14.21
-20.14%
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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.