Loading…
US technology company making GPS/positioning hardware and software for construction, agriculture, geospatial and transportation.
US technology company making GPS/positioning hardware and software for construction, agriculture, geospatial and transportation.
Sells positioning hardware once, then adds software and subscription services that recur, shifting revenue toward annual contracts. In 2024 it put most of its agriculture business into a joint venture with AGCO, where AGCO is the majority owner, and reshaped the company around construction and geospatial.
Moat: narrow (installed base, switching costs, IP / patents). Positioning hardware paired with workflow software creates an integrated system that's costly to replace.
Headquarters: Westminster, Colorado, US · Founded: 1978 · Employees: 11,500
Size Trimble (TRMB) is a United States Information Technology company (Packaged Software) with a market value of $12.6B, the 675th largest of 3,117 United States companies the cockpit tracks. Shares closed at $54.11 on 6 Nov 2026.
Performance Over six months the shares fell 11.0%, against +33.0% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 6.9% over the last twelve months (peer median +20.3%); the operating margin is 18.4% (peer median 20.4%).
Valuation It trades at 13.6× forward earnings against a peer median of 27.0× (4th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +13 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.9 points below its cost of capital (10.8% WACC).
Backlog Backlog (remaining performance obligations) was $2.00B at 2 Oct 2026, up 18% on a year earlier — 0.5 years of trailing revenue. Backlog detail →
Credit Trimble has 2 bonds outstanding ($1.40B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 112 bp.
Short interest Short interest is 4.1% of the free float (15 Oct 2026).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.85B | $3.59B | $3.68B | $3.80B | $3.68B |
| Revenue growth | — | -3% | -3% | +3% | — |
| Gross profit | $2.57B | $2.37B | $2.29B | $2.23B | $2.06B |
| EBITDA | $915M | $830M | $709M | $745M | $713M |
| Net income | -$157M | $424M | $1.50B | $311M | $450M |
| Free cash flow | $798M | $361M | $498M | $555M | $348M |
| Capital expenditure | $26.7M | $25.3M | $33.6M | $42.0M | $43.2M |
| Total debt | $1.53B | $1.56B | $1.54B | $3.22B | $1.66B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Trimble TRMB | $12.6B | -11% | +7% | 18% | 13.6× | 15.3% |
| Hexagon HEXA-B.ST | $29.4B | +14% | -20% | -14% | 30.0× | 9.1% |
| Deere & DE | $181B | +17% | +8% | 20% | 32.0× | 16.2% |
| Autodesk ADSK | $54.7B | +7% | +19% | 23% | 20.1× | 18.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TRMB | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.6% | +5.4% | 4th lowest of 21 |
| 6-month return | -11.0% | +33.0% | 2nd lowest of 21 |
| Distance from 52-week high | -35.9% | -14.2% | 6th lowest of 21 |
| Revenue growth (TTM) | +6.9% | +20.3% | 2nd lowest of 21 |
| Operating margin | 18.4% | 20.4% | 10th lowest of 21 |
| Forward P/E | 13.6× | 27.0× | 4th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 15.3% | 19.9% | 8th least demanding of 20 |
| Growth delivered (Del g) | +2.6% | +24.7% | lowest of 20 |
| Hurdle (Req g minus delivered) | +12.6 pp | -4.7 pp | 4th most demanding of 20 |
| ROIC minus cost of capital | -1.9 pp | +8.7 pp | 7th lowest of 18 |
| EV / EBITDA | 15.2× | 18.2× | 4th cheapest of 13 |
| Net debt / EBITDA | 1.4× | -1.3× | 3rd most indebted of 15 |
| Bond spread | 112 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Trimble TRMB | United States | $12.6B | -11% | +7% | 18% | 13.6× | 15.3% | +2.6% |
| Dynatrace DT | United States | $12.5B | +7% | +18% | 14% | 22.6× | 18.8% | +23.5% |
| JFrog FROG | United States | $12.5B | +43% | +26% | -13% | 89.6× | 37.7% | +28.7% |
| Chime Financial CHYM | United States | $11.9B | +70% | +18% | -1% | 35.2× | 18.2% | +24.8% |
| Tempus AI TEM | United States | $13.9B | +53% | +37% | -18% | n/a | n/a | n/a |
| Procore Technologies PCOR | United States | $11.4B | +41% | +16% | -1% | 33.8× | 19.9% | +27.0% |
| Zhejiang Century Huatong 002602.SZ | China | $14.0B | -20% | +28% | 21% | 11.1× | -0.2% | +20.4% |
| Sage SGE.L | United Kingdom | $14.1B | +33% | +9% | 23% | 23.1× | 3.1% | +5.7% |
| Capcom 9697.T | Japan | $11.0B | +25% | +21% | 41% | 27.0× | -2.2% | +15.4% |
| DocuSign DOCU | United States | $14.5B | +62% | +9% | 12% | 15.9× | 12.9% | +17.2% |
| SailPoint SAIL | United States | $11.0B | +57% | +20% | -19% | 53.5× | 42.0% | +24.7% |
| Manhattan Associates MANH | United States | $14.7B | +77% | +8% | 25% | 42.0× | 29.4% | +13.0% |
| Paycom Software PAYC | United States | $10.5B | +73% | +9% | 30% | 15.9× | 3.3% | +19.5% |
| Wisetech Global WTC.AX | Australia | $10.3B | +15% | +71% | 31% | 32.6× | 30.1% | +32.3% |
| Evolution EVO.ST | Sweden | $15.8B | +33% | -3% | 57% | 14.4× | -0.3% | +31.2% |
| Figma FIG | United States | $10.0B | -9% | +43% | -124% | 54.8× | 22.2% | +43.4% |
| HubSpot HUBS | United States | $10.0B | +2% | +21% | 4% | 12.5× | 25.1% | +28.8% |
| Beijing Kingsoft Office Software 688111.SS | China | $16.1B | -8% | +20% | 22% | 35.6× | 32.7% | +21.3% |
| Oracle Financial Services Software OFSS.NS | India | $9.43B | +8% | +28% | 52% | 22.7× | 22.0% | +9.0% |
| Full Truck Alliance Co. Ltd. Sponsored ADR YMM | United States | $9.35B | +4% | +9% | 34% | 12.8× | -10.9% | +36.0% |
| Hinge Health HNGE | United States | $9.34B | +107% | +50% | 19% | 39.6× | 34.1% | +49.9% |
Trimble has 2 bonds outstanding with $1.40B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 5.68%, a spread of 112 bp over government bonds.
Trimble reported $2.00B of remaining performance obligations at 2 Oct 2026, up 18% from a year earlier and flat from the previous quarter. That is 0.5 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.