Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35%

Stock buyback support
Stock Buyback 3Y Total is 1.5 Bil

Low stock price volatility
Vol 12M is 29%

Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, and Future of Freight. Themes include Building Management Systems, IoT for Buildings, Show more.

Weak multi-year price returns
2Y Excs Rtn is -41%, 3Y Excs Rtn is -68%

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 1.0%

Key risks
TRMB key risks include [1] significant internal control and regulatory compliance deficiencies that have led to delayed financial reporting and threatened its Nasdaq listing.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35%
2 Stock buyback support
Stock Buyback 3Y Total is 1.5 Bil
3 Low stock price volatility
Vol 12M is 29%
4 Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, and Future of Freight. Themes include Building Management Systems, IoT for Buildings, Show more.
5 Weak multi-year price returns
2Y Excs Rtn is -41%, 3Y Excs Rtn is -68%
6 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 1.0%
7 Key risks
TRMB key risks include [1] significant internal control and regulatory compliance deficiencies that have led to delayed financial reporting and threatened its Nasdaq listing.

TRMB in ETFs

Weight = TRMB's share of each fund

SPY0.02%
VOO0.02%
IVV0.02%
VTI0.02%
ITOT0.02%
IWB0.02%
RSP0.20%
VTV0.03%
+33 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 7/1/2026

Trimble (TRMB) stock has lost about 20% since 3/31/2026 because of the following key factors:

1. Analyst Price Target Reductions and "Hold" Ratings Despite Q1 2026 Earnings Beat.

Despite Trimble reporting strong financial results for its fiscal Q1 2026 (ended April 2, 2026), with non-GAAP diluted earnings per share of $0.79 surpassing consensus estimates of $0.72 and revenue of $939.9 million exceeding expectations, the stock experienced significant pressure due to analyst downgrades and price target cuts during fiscal Q2 2026. Notably, Barclays lowered its price target from $103.00 to $79.00 on May 29, 2026, and Oppenheimer reduced its target from $86.00 to $80.00, both citing limited visibility in the Field Systems segment for the second half of 2026. Piper Sandler also decreased its target from $97.00 to $87.00 on May 6, 2026. Furthermore, Zacks Research downgraded Trimble from a "strong-buy" to a "hold" rating on April 13, 2026. This shift in analyst sentiment, driven by concerns over future segment performance, acted as a significant company-specific catalyst for the stock's decline.

2. Broader Tech Sector Sell-off and Macroeconomic Headwinds.

Trimble's stock movement was exacerbated by a broader sell-off within the technology sector during fiscal Q2 2026, influenced by several macroeconomic factors. Reports indicated a "broad tech sector selloff compounded company-specific headwinds" around June 10, 2026. This market volatility was partly attributed to hotter-than-expected CPI data in May, with inflation reaching a three-year high of 4.2%, and escalating geopolitical tensions, such as the U.S.-Iran conflict, which caused oil prices to surge. These factors created a challenging environment for rate-sensitive growth stocks, contributing to the overall market downturn that impacted Trimble.

Show more
Updated on 7/1/2026

Trimble (TRMB) stock has lost about 20% since 3/31/2026 because of the following key factors:

1. Analyst Price Target Reductions and "Hold" Ratings Despite Q1 2026 Earnings Beat.

Despite Trimble reporting strong financial results for its fiscal Q1 2026 (ended April 2, 2026), with non-GAAP diluted earnings per share of $0.79 surpassing consensus estimates of $0.72 and revenue of $939.9 million exceeding expectations, the stock experienced significant pressure due to analyst downgrades and price target cuts during fiscal Q2 2026. Notably, Barclays lowered its price target from $103.00 to $79.00 on May 29, 2026, and Oppenheimer reduced its target from $86.00 to $80.00, both citing limited visibility in the Field Systems segment for the second half of 2026. Piper Sandler also decreased its target from $97.00 to $87.00 on May 6, 2026. Furthermore, Zacks Research downgraded Trimble from a "strong-buy" to a "hold" rating on April 13, 2026. This shift in analyst sentiment, driven by concerns over future segment performance, acted as a significant company-specific catalyst for the stock's decline.

2. Broader Tech Sector Sell-off and Macroeconomic Headwinds.

Trimble's stock movement was exacerbated by a broader sell-off within the technology sector during fiscal Q2 2026, influenced by several macroeconomic factors. Reports indicated a "broad tech sector selloff compounded company-specific headwinds" around June 10, 2026. This market volatility was partly attributed to hotter-than-expected CPI data in May, with inflation reaching a three-year high of 4.2%, and escalating geopolitical tensions, such as the U.S.-Iran conflict, which caused oil prices to surge. These factors created a challenging environment for rate-sensitive growth stocks, contributing to the overall market downturn that impacted Trimble.

3. Investor Skepticism Regarding AI Investment Returns.

Despite Trimble's efforts to integrate Artificial Intelligence (AI) into its solutions and reports of strong AI-related business investment, there was increasing market skepticism during fiscal Q2 2026 regarding whether the substantial capital expenditures on AI models, data centers, infrastructure, and hardware would generate sufficient returns to justify the investments. These "growing AI disruption concerns" added pressure, especially within the technology and software sectors, as investors questioned the long-term profitability of these massive AI outlays, contributing to increased investor anxiety across the market and affecting companies like Trimble that are heavily invested in AI.

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Stock Movement Drivers

Fundamental Drivers

The -18.7% change in TRMB stock from 3/31/2026 to 7/4/2026 was primarily driven by a -25.3% change in the company's P/E Multiple.
(LTM values as of)33120267042026Change
Stock Price ($)65.2353.04-18.7%
Change Contribution By: 
Total Revenues ($ Mil)3,5873,6872.8%
Net Income Margin (%)11.8%12.4%4.7%
P/E Multiple36.527.3-25.3%
Shares Outstanding (Mil)2372341.1%
Cumulative Contribution-18.7%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/4/2026
ReturnCorrelation
TRMB-18.7% 
Market (SPY)14.5%33.5%
Sector (XLK)35.9%21.2%

Fundamental Drivers

The -32.3% change in TRMB stock from 12/31/2025 to 7/4/2026 was primarily driven by a -47.8% change in the company's P/E Multiple.
(LTM values as of)123120257042026Change
Stock Price ($)78.3553.04-32.3%
Change Contribution By: 
Total Revenues ($ Mil)3,6013,6872.4%
Net Income Margin (%)9.9%12.4%24.6%
P/E Multiple52.227.3-47.8%
Shares Outstanding (Mil)2382341.6%
Cumulative Contribution-32.3%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/4/2026
ReturnCorrelation
TRMB-32.3% 
Market (SPY)9.5%45.0%
Sector (XLK)25.6%33.9%

Fundamental Drivers

The -30.2% change in TRMB stock from 6/30/2025 to 7/4/2026 was primarily driven by a -70.8% change in the company's Net Income Margin (%).
(LTM values as of)63020257042026Change
Stock Price ($)75.9853.04-30.2%
Change Contribution By: 
Total Revenues ($ Mil)3,5713,6873.2%
Net Income Margin (%)42.4%12.4%-70.8%
P/E Multiple12.227.3123.3%
Shares Outstanding (Mil)2432343.8%
Cumulative Contribution-30.2%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/4/2026
ReturnCorrelation
TRMB-30.2% 
Market (SPY)21.6%54.5%
Sector (XLK)43.2%42.3%

Fundamental Drivers

The 0.2% change in TRMB stock from 6/30/2023 to 7/4/2026 was primarily driven by a 5.4% change in the company's Shares Outstanding (Mil).
(LTM values as of)63020237042026Change
Stock Price ($)52.9453.040.2%
Change Contribution By: 
Total Revenues ($ Mil)3,5983,6872.5%
Net Income Margin (%)13.0%12.4%-4.9%
P/E Multiple28.027.3-2.5%
Shares Outstanding (Mil)2472345.4%
Cumulative Contribution0.2%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2023 to 7/4/2026
ReturnCorrelation
TRMB0.2% 
Market (SPY)74.0%61.5%
Sector (XLK)111.6%51.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
TRMB Return31%-42%5%33%11%-33%-21%
Peers Return11%-31%62%20%-10%-11%20%
S&P 500 Return27%-19%24%23%16%9%99%

Monthly Win Rates [3]
TRMB Win Rate67%33%50%50%50%29% 
Peers Win Rate67%33%68%58%48%46% 
S&P 500 Win Rate75%42%67%75%67%43% 

Max Drawdowns [4]
TRMB Max Drawdown-16%-44%-34%-23%-29%-40% 
Peers Max Drawdown-26%-44%-16%-20%-32%-29% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ADSK, BSY, IOT, ROP, GRMN. See TRMB Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/2/2026 (YTD)

How Low Can It Go

EventTRMBS&P 500
2025 US Tariff Shock
  % Loss-27.1%-18.8%
  % Gain to Breakeven37.1%23.1%
  Time to Breakeven80 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-24.1%-9.5%
  % Gain to Breakeven31.8%10.5%
  Time to Breakeven91 days24 days
2023 SVB Regional Banking Crisis
  % Loss-18.3%-6.7%
  % Gain to Breakeven22.3%7.1%
  Time to Breakeven295 days31 days
2020 COVID-19 Crash
  % Loss-53.6%-33.7%
  % Gain to Breakeven115.6%50.9%
  Time to Breakeven141 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-29.9%-19.2%
  % Gain to Breakeven42.7%23.8%
  Time to Breakeven130 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-11.0%-3.7%
  % Gain to Breakeven12.4%3.9%
  Time to Breakeven11 days6 days

Compare to ADSK, BSY, IOT, ROP, GRMN

In The Past

Trimble's stock fell -27.1% during the 2025 US Tariff Shock. Such a loss loss requires a 37.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventTRMBS&P 500
2025 US Tariff Shock
  % Loss-27.1%-18.8%
  % Gain to Breakeven37.1%23.1%
  Time to Breakeven80 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-24.1%-9.5%
  % Gain to Breakeven31.8%10.5%
  Time to Breakeven91 days24 days
2020 COVID-19 Crash
  % Loss-53.6%-33.7%
  % Gain to Breakeven115.6%50.9%
  Time to Breakeven141 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-29.9%-19.2%
  % Gain to Breakeven42.7%23.8%
  Time to Breakeven130 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-20.4%-12.2%
  % Gain to Breakeven25.6%13.9%
  Time to Breakeven32 days62 days
2014-2016 Oil Price Collapse
  % Loss-51.5%-6.8%
  % Gain to Breakeven106.3%7.3%
  Time to Breakeven578 days15 days
2008-2009 Global Financial Crisis
  % Loss-61.6%-53.4%
  % Gain to Breakeven160.5%114.4%
  Time to Breakeven416 days1085 days

Compare to ADSK, BSY, IOT, ROP, GRMN

In The Past

Trimble's stock fell -27.1% during the 2025 US Tariff Shock. Such a loss loss requires a 37.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Trimble (TRMB)

Trimble Inc. (TRMB) is a technology company that develops and provides specialized hardware, software, and services designed to improve productivity and efficiency for professionals and field mobile workers across various industries globally. The company's core expertise lies in leveraging advanced positioning technologies, such as GPS, alongside sophisticated data analytics, 3D modeling, and automation to help clients make better decisions, optimize operations, and streamline workflows.

Trimble's diverse offerings are organized into several key segments. Its Buildings and Infrastructure segment provides comprehensive software for 3D design, construction equipment guidance, project management, and cost estimation for the construction and infrastructure industries. The Geospatial segment caters to surveyors and mapping professionals with precise surveying tools and geographic information systems. For the agriculture sector, the Resources and Utilities segment offers precision agriculture solutions, including autonomous steering, guidance systems, and software to optimize farming practices, alongside water management solutions for utilities.

Additionally, Trimble's Transportation segment focuses on solutions for the long-haul trucking and freight shipping markets. This includes mobility solutions for route management, safety and compliance, end-to-end vehicle management, and supply chain communications. The segment also provides comprehensive fleet and transportation management systems that incorporate analytics, routing, and predictive modeling to enhance logistics and operational efficiency for transport providers worldwide.

AI Analysis | Feedback

Here are 1-3 brief analogies for Trimble: * It's like **Autodesk** for the physical world's operations, extending from design into field execution and asset management for industries like construction. * The **Salesforce** for industrial and field operations, providing specialized software and integrated hardware systems for professionals in areas such as construction, agriculture, and transportation. * Imagine **John Deere's** precision agriculture technology, but also applied to construction equipment, surveying, and logistics fleets to make them smarter and more efficient.

AI Analysis | Feedback

  • Construction Software & Hardware: A suite of software for design, project management, cost estimation, and hardware for equipment guidance, site layout, and asset tracking in the buildings and infrastructure sector.
  • Geospatial Solutions: Products and systems for surveying, geospatial data collection, and geographic information systems.
  • Precision Agriculture Technology: Guidance and positioning systems, autonomous steering, automated application solutions, and software for farming operations.
  • Transportation & Logistics Solutions: Fleet and transportation management systems, mobility solutions, route optimization, and compliance tools for long-haul trucking and freight.

AI Analysis | Feedback

Trimble (TRMB) sells primarily to other companies (B2B). While the provided background information does not list specific customer company names, its major customers can be categorized within the following industries:

  • Construction and Infrastructure Firms: This category includes general contractors, specialty contractors, civil engineering firms, architectural firms, and infrastructure owners/operators involved in building design, construction, and managing various infrastructure projects (e.g., roads, bridges, utilities).
  • Geospatial and Surveying Professionals: Companies and government agencies engaged in land surveying, mapping, geographic information systems (GIS), and spatial data collection and analysis.
  • Agricultural Enterprises: Large farms, agribusinesses, individual farmers, and organizations involved in precision agriculture, crop management, livestock management, and water resource management.
  • Transportation and Logistics Companies: Long-haul trucking companies, freight shippers, fleet operators, and logistics providers that manage vehicle fleets, routes, safety, compliance, and supply chain communications.

AI Analysis | Feedback

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AI Analysis | Feedback

Here is the management team of Trimble Inc.:

Robert G. Painter, President and Chief Executive Officer

Robert G. Painter was appointed President and Chief Executive Officer of Trimble in January 2020. Prior to this role, he served as the company's Chief Financial Officer from 2016 to 2019. He joined Trimble in 2006 and has held various leadership positions, including corporate development, corporate strategy, General Manager of Construction Services, General Manager of the Intelligent Construction Tools international joint venture, and Vice President of Trimble Buildings construction software. Before joining Trimble, Mr. Painter held management and finance positions at companies such as Cenveo, Rapt Inc., Bain & Company, Whole Foods Market, and Kraft Foods. He holds a Bachelor of Science degree in Finance from West Virginia University and an MBA from Harvard University. Mr. Painter was appointed to the Synopsys Board of Directors in August 2023.

Phillip Sawarynski, Chief Financial Officer

Phillip Sawarynski was named Chief Financial Officer of Trimble, effective May 2024. He joined Trimble in 2009 and has held various leadership roles, including head of finance for the Agriculture, Geospatial, Transportation, and Asset Management sectors. During his tenure, he also led the Optical and Imaging business in the Geospatial sector. Prior to Trimble, Mr. Sawarynski served as CFO and VP of National Accounts at Nexus Corporation, a greenhouse engineering, manufacturing, and construction company. He also held various finance and engineering roles at Ford Motor Company and worked as a manufacturing engineer for International Paper. Mr. Sawarynski holds a Master's of Industrial Administration (MBA) from Carnegie Mellon University and a Bachelor of Science in Chemical Engineering from the University of Michigan–Ann Arbor.

Peter Large, Senior Vice President, Strategy

Peter Large currently serves as Senior Vice President, Strategy, Corporate Development, Corporate Partnerships and Alliances, and the Office of Technology Innovation at Trimble. He rejoined Trimble in December 2020, having previously worked for the company from 1996 to 2014, where he held various general management, marketing, product management, sales, and technical roles, and served as a corporate vice president from 2011. Before rejoining Trimble, he held strategy and operational positions with Boeing Digital Solutions & Analytics and Inmarsat plc/Aviation. Mr. Large's educational background includes a Doctor of Education from Oklahoma State University, an MS in Management from Stanford Graduate School of Business, a Postgraduate Diploma in Strategy & Innovation from the University of Oxford, and a BSc (Hons) in Surveying & Mapping Science from the University of Newcastle Upon Tyne, U.K. He also serves as a Board Member for the Association of Equipment Manufacturers, Intelligent Construction Tools, LLC, Caterpillar Trimble Control Technologies LLC, and Flyht Aerospace Solutions Ltd.

Jennifer Allison, Corporate Vice President, General Counsel

Jennifer Allison became Trimble's General Counsel and Corporate Secretary in April 2023. She previously served as Vice President & General Counsel for Trimble's Construction Sector starting in July 2018. Prior to joining Trimble, Ms. Allison served as General Counsel to Viewpoint, Inc. Her past experience also includes serving as General Counsel at Tripwire, and Assistant General Counsel, Director of Human Resources and Corporate Compliance for EthicsPoint (now NAVEX Global). She also clerked for the Oregon Supreme Court. Ms. Allison holds a Bachelor's degree in English Literature from Portland State University and a JD from Lewis & Clark Law School.

Ronald Bisio, Senior Vice President, Field Systems

Ronald Bisio serves as Senior Vice President of Trimble Field Systems, with responsibility for advanced positioning & automotive, agriculture, civil & marine construction, defense, and geospatial business units. He joined Trimble in 1996 and has held various marketing, sales, and general management positions. Before his current role, he was the senior vice president responsible for Trimble's Surveying and Geospatial businesses, a position he assumed in February 2019, after serving as vice president since April 2015. From January 2011 to April 2015, he was the general manager for Trimble's Rail business. Mr. Bisio holds a Master of Business Administration from the University of Denver, a Master of Regional Planning from the University of Massachusetts, and a Bachelor of Science degree in Cartography from Salem State University. He has also served as a board member for Caterpillar Trimble Control Technologies LLC and Nikon-Trimble.

AI Analysis | Feedback

Key risks to Trimble's business include:

  • Macroeconomic Environment and Cyclicality of End Markets: Trimble's customers, primarily in heavy construction, agriculture, and logistics, operate capital-intensive businesses. As such, they are highly sensitive to macroeconomic factors such as fluctuating interest rates, geopolitical instability, and economic downturns, which can directly impact their purchasing power for Trimble's products and services. This risk is particularly pronounced for hardware sales, which tend to be cyclical.
  • Pace of Business Model Transition and Integration Challenges: Trimble is strategically shifting from a hardware-centric model to a higher-margin, recurring revenue software and subscription model ("Connect & Scale" strategy). However, a slower-than-anticipated adoption or migration from hardware to subscription services by customers could impede total revenue growth. Furthermore, the company faces inherent complexities in integrating its diverse product lines, customer bases, and numerous acquisitions and divestitures, which can strain resources and affect operational efficiency.
  • Internal Control Weaknesses: Trimble has reported material weaknesses in its internal controls over financial reporting. These deficiencies have previously led to delays in SEC filings and temporarily restricted the company's ability to use Form S-3, potentially impacting future capital-raising efforts. While the company is actively working on remediation, these issues can raise questions about the reliability of its financial processes and divert management attention from core strategic initiatives.

AI Analysis | Feedback

Major agricultural equipment manufacturers (such as John Deere, CNH Industrial, and AGCO) are increasingly developing and integrating their own proprietary precision agriculture technology, including guidance systems, autonomous steering, variable-rate application, and comprehensive data management platforms. This trend toward vertical integration and closed ecosystems by OEMs could marginalize third-party technology providers like Trimble, as farmers may opt for unified, manufacturer-provided solutions that are tightly integrated with their machinery, potentially reducing the market for Trimble's historically strong independent offerings in this segment.

AI Analysis | Feedback

Trimble Inc. operates in several large addressable markets globally, encompassing its diverse technology solutions across the construction, geospatial, agriculture, and transportation sectors.

Buildings and Infrastructure

  • Building Information Modeling (BIM) Software: The global building information modeling market was valued at approximately USD 7.9 billion in 2022 and is projected to reach USD 34.2 billion by 2032. Other estimates place the global BIM market at USD 8.53 billion in 2024, growing to USD 23.74 billion by 2033, or USD 9.8 billion in 2024, expecting to reach USD 29.9 billion by 2033.
  • Construction Software (broader): The global construction and design software market was estimated at USD 10,964.8 million in 2024 and is projected to reach USD 19,116.7 million by 2030. Another report valued the global construction software market at USD 10.76 billion in 2025, with a projection to reach USD 24.72 billion by 2034. The construction management software market alone was valued at USD 6.3 billion in 2023 and is anticipated to grow to USD 10 billion by 2032.

Geospatial

  • Geospatial Solutions Market: The global geospatial market size was estimated at USD 452 billion in 2022 and is forecasted to reach USD 1.44 trillion by 2030. Similarly, the global geospatial solutions market size was estimated at USD 385.49 billion in 2023 and is projected to reach USD 990.79 billion by 2030. Within this, the global geospatial analytics market was valued at USD 92.19 billion in 2024 and is expected to reach USD 338.78 billion by 2034.
  • Land Survey Equipment: The global land survey equipment market was valued at USD 10 billion in 2022 and is projected to reach USD 17.2 billion by 2032. Other data indicates the global surveying equipment market was approximately USD 7.5 billion in 2023, with a projection to reach around USD 12.3 billion by 2032.

Resources and Utilities

  • Precision Agriculture: The global precision farming market size is estimated at USD 14.18 billion in 2025 and is predicted to increase to approximately USD 48.36 billion by 2035. Another source valued the global precision agriculture market at approximately USD 10.43 billion in 2023.

Transportation

  • Fleet Management Systems: The global fleet management system market reached USD 28.8 billion in 2024 and is expected to reach USD 61.0 billion by 2033. Another report estimated the global fleet management market at USD 27 billion in 2025, with a projected growth to USD 122.3 billion by 2035.
  • Transportation Management Systems (TMS): The global transportation management system market size was estimated at USD 18.56 billion in 2025 and is projected to reach USD 68.36 billion by 2033. Other reports valued the global TMS market at USD 16.69 billion in 2025, anticipating it to reach around USD 47.97 billion by 2035.

AI Analysis | Feedback

Trimble Inc. (symbol: TRMB) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:

  1. Transition to a Software-Centric and Recurring Revenue Model: Trimble is actively shifting from a hardware-focused business to one centered on high-margin software solutions and a subscription-based model. This strategy, often referred to as 'Connect & Scale,' aims to boost profitability and create more predictable revenue streams. The company has demonstrated strong growth in Annualized Recurring Revenue (ARR), with recurring revenue streams representing a significant portion of its total revenue.
  2. Expansion and Innovation in the AECO (Architecture, Engineering, Construction, and Owners) Sector: The AECO segment is a major focus for Trimble and is consistently highlighted as a significant growth driver. The company is enhancing its SaaS offerings and construction project management tools, with strong performance and new product launches in this area. Trimble Construction One (TC1) is a key platform facilitating this growth.
  3. Integration and Adoption of Artificial Intelligence (AI): Trimble is investing heavily in embedding AI into its solutions to enhance productivity, automate customer workflows, and provide a competitive advantage across its various segments. This includes the development of an agentic AI platform and new AI features in products like Trimble SketchUp and Tekla Structures User Assistant.
  4. Geographic Expansion and Leveraging Cross-selling and Upselling Opportunities: The company plans to expand its market presence geographically and capitalize on opportunities to cross-sell and upsell its comprehensive portfolio of solutions to existing and new customers. The large, underpenetrated addressable market further supports this growth driver.

AI Analysis | Feedback

Share Repurchases

  • Trimble's Board of Directors authorized a new $1 billion share repurchase program in December 2025, which replaced a previous authorization that had $273 million remaining as of the end of the third quarter of 2025.
  • In 2025, the company repurchased approximately 12.2 million shares totaling $875.4 million.
  • As of the third quarter of 2025 year-to-date, Trimble had bought back $727.4 million in shares.

Share Issuance

  • The issuance of common stock, net of tax withholdings, resulted in $0.6 million in 2025 and a net outflow of $6.5 million in 2024.
  • Trimble's diluted average shares outstanding have generally decreased from 2021 to 2025, reaching $247.2 million in January 2025 and $242.0 million for the full year 2025.

Outbound Investments

  • Trimble sold its global transportation telematics business units to Platform Science in September 2024, a transaction that was completed in February 2025.
  • In September 2023, Trimble contributed its agriculture business (excluding GNSS and guidance technologies) to a new joint venture, PTx Trimble, with AGCO Corporation acquiring an 85% stake and Trimble retaining a 15% stake.
  • Trimble established Trimble Ventures in 2021, a strategic venture fund intending to invest up to $200 million in early- to growth-stage companies to accelerate innovation.

Inbound Investments

  • As part of the sale of its global transportation telematics business units, Trimble acquired a 32.5% equity stake in Platform Science, valued at approximately $253.9 million as of February 2026.

Capital Expenditures

  • Capital expenditures, specifically purchases of property and equipment, were ($25.3) million in 2025 and ($33.6) million in 2024.
  • The company's core business generates sufficient cash flow to cover its operations and modest capital expenditures.

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Peer Comparisons

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Financials

TRMBADSKBSYIOTROPGRMNMedian
NameTrimble Autodesk Bentley .Samsara Roper Te.Garmin  
Mkt Price53.04207.4832.2635.93364.20240.02130.26
Mkt Cap12.443.810.120.938.046.229.4
Rev LTM3,6877,5071,5551,7318,1157,4645,575
Op Inc LTM6562,027374-122,2791,9751,316
FCF LTM4802,6944922352,4911,452972
FCF 3Y Avg4931,7644501202,2541,341917
CFO LTM5052,7815122652,6041,7491,131
CFO 3Y Avg5271,8474691422,3661,5661,047

Growth & Margins

TRMBADSKBSYIOTROPGRMNMedian
NameTrimble Autodesk Bentley .Samsara Roper Te.Garmin  
Rev Chg LTM3.2%18.3%12.2%29.6%12.1%15.7%14.0%
Rev Chg 3Y Avg1.0%13.8%11.0%34.4%13.4%15.6%13.6%
Rev Chg Q11.8%18.4%14.5%30.5%11.3%14.2%14.4%
QoQ Delta Rev Chg LTM2.8%4.2%3.6%6.9%2.7%3.0%3.3%
Op Inc Chg LTM41.8%44.0%14.8%92.0%11.7%21.3%31.5%
Op Inc Chg 3Y Avg10.2%27.4%19.8%46.0%13.3%25.8%22.8%
Op Mgn LTM17.8%27.0%24.0%-0.7%28.1%26.5%25.2%
Op Mgn 3Y Avg14.3%23.5%22.7%-11.9%28.3%24.5%23.1%
QoQ Delta Op Mgn LTM0.8%2.1%-0.1%2.5%-0.2%0.6%0.7%
CFO/Rev LTM13.7%37.0%32.9%15.3%32.1%23.4%27.8%
CFO/Rev 3Y Avg14.2%27.6%33.7%9.2%32.7%24.5%26.0%
FCF/Rev LTM13.0%35.9%31.6%13.6%30.7%19.4%25.1%
FCF/Rev 3Y Avg13.3%26.3%32.2%7.6%31.1%21.0%23.6%

Valuation

TRMBADSKBSYIOTROPGRMNMedian
NameTrimble Autodesk Bentley .Samsara Roper Te.Garmin  
Mkt Cap12.443.810.120.938.046.229.4
P/S3.45.86.512.14.76.26.0
P/Op Inc19.021.627.0-1,724.016.723.420.3
P/EBIT19.721.626.7-1,724.015.123.420.6
P/E27.329.935.8363.522.226.628.6
P/CFO24.615.719.778.914.626.422.1
Total Yield3.7%3.3%3.6%0.3%5.5%5.3%3.7%
Dividend Yield0.0%0.0%0.8%0.0%1.0%1.5%0.4%
FCF Yield 3Y Avg3.1%3.3%3.5%0.6%4.6%3.6%3.4%
D/E0.10.10.10.00.30.00.1
Net D/E0.1-0.00.1-0.00.3-0.10.0

Returns

TRMBADSKBSYIOTROPGRMNMedian
NameTrimble Autodesk Bentley .Samsara Roper Te.Garmin  
1M Rtn-4.8%-11.2%-2.4%2.0%9.8%-0.4%-1.4%
3M Rtn-18.6%-12.9%-6.6%11.4%2.0%1.4%-2.6%
6M Rtn-32.3%-27.6%-15.1%5.9%-16.0%19.5%-15.5%
12M Rtn-31.9%-33.1%-41.3%-6.4%-35.9%13.6%-32.5%
3Y Rtn1.7%1.8%-37.6%32.0%-22.2%140.8%1.7%
1M Excs Rtn-6.5%-10.7%-3.5%-2.2%9.9%1.7%-2.8%
3M Excs Rtn-32.3%-26.6%-19.3%-1.0%-11.2%-12.3%-15.8%
6M Excs Rtn-41.8%-39.2%-24.8%-8.7%-27.2%9.5%-26.0%
12M Excs Rtn-51.4%-54.2%-60.2%-29.0%-56.7%-5.2%-52.8%
3Y Excs Rtn-68.3%-70.6%-108.7%-31.4%-92.1%73.9%-69.4%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Field Systems1,5401,5361,968  
Architects, Engineers, Construction and Owners (AECO)1,4991,3591,110  
Transportation and Logistics (T&L)549789720  
Buildings and Infrastructure   1,4941,423
Geospatial   756829
Resources and Utilities   822771
Transportation   604636
Total3,5873,6833,7993,6763,659


Operating Income by Segment
$ Mil20252024202320222021
Architects, Engineers, Construction and Owners (AECO)512464329  
Field Systems478442604  
Transportation and Logistics (T&L)120155118  
Acquisition / divestiture items-19-82-72-33-22
Restructuring and other costs-54-32-50-54-11
Unallocated general corporate expense-123-124-116-123-106
Stock-based compensation / deferred compensation-152-164-151-112-129
Amortization of purchased intangible assets-172-199-212  
Buildings and Infrastructure   406412
Geospatial   221244
Purchase accounting adjustments   -132-134
Resources and Utilities   278264
Transportation   5943
Total592461449511561


Assets by Segment
$ Mil2000
Engineering & Construction34
Fleet and Asset Management18
GPS Component Technology14
Portfolio Technologies13
Agriculture6
Total86


Price Behavior

Price Behavior
Market Price$53.04 
Market Cap ($ Bil)12.4 
First Trading Date03/03/1992 
Distance from 52W High-37.8% 
   50 Days200 Days
DMA Price$55.52$54.77
DMA Trenddowndown
Distance from DMA-4.5%-3.2%
 3M1YR
Volatility33.0%29.5%
Downside Capture168.00190.91
Upside Capture14.14100.59
Correlation (SPY)32.4%54.1%
TRMB Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta0.790.510.951.071.281.25
Up Beta-0.56-1.050.820.840.911.15
Down Beta1.701.021.000.801.211.23
Up Capture30%-29%23%57%102%160%
Bmk +ve Days11244067140429
Stock +ve Days11182961134405
Down Capture126%170%184%165%150%108%
Bmk -ve Days10172358112321
Stock -ve Days10213262115341

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with TRMB
TRMB-31.4%29.5%-1.28-
Sector ETF (XLK)44.7%24.0%1.4842.7%
Equity (SPY)21.7%12.5%1.2954.9%
Gold (GLD)23.1%27.7%0.734.4%
Commodities (DBC)21.3%18.6%0.90-10.9%
Real Estate (VNQ)13.6%13.8%0.6827.7%
Bitcoin (BTCUSD)-42.0%42.7%-1.1533.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with TRMB
TRMB-8.2%32.9%-0.21-
Sector ETF (XLK)20.9%25.4%0.7364.6%
Equity (SPY)13.3%17.1%0.6071.2%
Gold (GLD)17.9%18.3%0.794.8%
Commodities (DBC)6.9%19.5%0.2510.1%
Real Estate (VNQ)3.1%18.9%0.0653.4%
Bitcoin (BTCUSD)12.2%53.8%0.4132.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with TRMB
TRMB7.0%33.7%0.29-
Sector ETF (XLK)24.9%24.8%0.9162.8%
Equity (SPY)15.4%18.0%0.7368.4%
Gold (GLD)12.1%16.1%0.612.9%
Commodities (DBC)5.7%18.0%0.2520.9%
Real Estate (VNQ)5.5%20.7%0.2351.2%
Bitcoin (BTCUSD)59.0%66.2%0.9922.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity10.0 Mil
Short Interest: % Change Since 531202628.6%
Average Daily Volume3.0 Mil
Days-to-Cover Short Interest3.4 days
Basic Shares Quantity234.5 Mil
Short % of Basic Shares4.3%

Earnings Returns History

Updated 6/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/6/2026-7.2%-17.3%-18.5%
2/10/20262.9%-1.9%1.0%
11/5/20252.5%1.2%6.3%
8/6/20251.7%1.1%-3.6%
5/7/20254.7%12.5%12.4%
2/19/20250.6%-5.0%-4.7%
11/6/202417.9%18.2%22.4%
9/16/2024-0.2%0.3%5.7%
...
SUMMARY STATS   
# Positive121212
# Negative121212
Median Positive3.2%2.8%7.5%
Median Negative-6.0%-6.1%-4.8%
Max Positive17.9%18.2%22.4%
Max Negative-13.1%-17.3%-18.5%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/6/2026-7.2%-17.3%-18.5%
2/10/20262.9%-1.9%1.0%
11/5/20252.5%1.2%6.3%
8/6/20251.7%1.1%-3.6%
5/7/20254.7%12.5%12.4%
2/19/20250.6%-5.0%-4.7%
11/6/202417.9%18.2%22.4%
9/16/2024-0.2%0.3%5.7%
5/3/2024-6.9%-5.5%-9.3%
2/12/20244.2%14.8%20.8%
11/1/2023-13.1%-9.9%-1.5%
8/3/20233.3%1.2%1.9%
5/3/20233.1%2.8%4.5%
2/8/2023-5.7%-6.7%-16.6%
11/2/2022-10.4%-8.7%2.1%
8/5/2022-3.1%0.0%-11.6%
5/5/2022-9.6%-12.0%-1.9%
2/9/2022-0.2%-4.5%-7.0%
11/3/2021-1.7%-3.0%-4.9%
8/4/20213.1%2.7%8.8%
5/5/2021-6.4%-9.0%-1.6%
2/10/2021-1.3%-2.0%-0.2%
11/4/20205.3%8.2%18.8%
8/5/20206.8%7.8%10.8%
SUMMARY STATS   
# Positive121212
# Negative121212
Median Positive3.2%2.8%7.5%
Median Negative-6.0%-6.1%-4.8%
Max Positive17.9%18.2%22.4%
Max Negative-13.1%-17.3%-18.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/06/202610-Q
12/31/202502/25/202610-K
09/30/202511/05/202510-Q
06/30/202508/06/202510-Q
03/31/202505/12/202510-Q
12/31/202404/25/202510-K
09/30/202401/16/202510-Q
06/30/202401/16/202510-Q
03/31/202401/16/202510-Q
12/31/202302/26/202410-K
09/30/202311/03/202310-Q
06/30/202308/04/202310-Q
03/31/202305/03/202310-Q
12/31/202202/17/202310-K
09/30/202211/02/202210-Q
06/30/202208/05/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/06/202610-Q
12/31/202502/25/202610-K
09/30/202511/05/202510-Q
06/30/202508/06/202510-Q
03/31/202505/12/202510-Q
12/31/202404/25/202510-K
09/30/202401/16/202510-Q
06/30/202401/16/202510-Q
03/31/202401/16/202510-Q
12/31/202302/26/202410-K
09/30/202311/03/202310-Q
06/30/202308/04/202310-Q
03/31/202305/03/202310-Q
12/31/202202/17/202310-K
09/30/202211/02/202210-Q
06/30/202208/05/202210-Q
03/31/202205/05/202210-Q
12/31/202102/23/202210-K
09/30/202111/04/202110-Q
06/30/202108/09/202110-Q
03/31/202105/07/202110-Q
12/31/202002/26/202110-K
09/30/202011/06/202010-Q
06/30/202008/10/202010-Q
03/31/202005/08/202010-Q
12/31/201902/28/202010-K
09/30/201911/04/201910-Q
06/30/201908/02/201910-Q

Recent Forward Guidance

Updated 5/31/2026

Latest: Q1 2026 Earnings Reported 5/6/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Revenue938.00 Mil950.50 Mil963.00 Mil   
Q2 2026 GAAP EPS0.380.40.42   
Q2 2026 Non-GAAP EPS0.780.80.82   
2026 Revenue3.83 Bil3.88 Bil3.92 Bil0.4% RaisedGuidance: 3.86 Bil for 2026
2026 GAAP EPS2.052.132.21-0.2% LoweredGuidance: 2.13 for 2026
2026 Non-GAAP EPS3.473.563.641.0% RaisedGuidance: 3.52 for 2026

Prior: Q4 2025 Earnings Reported 2/10/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue893.00 Mil905.50 Mil918.00 Mil-4.4% Lower NewActual: 947.00 Mil for Q4 2025
Q1 2026 GAAP EPS0.320.340.36-46.0%-29.0%Lower NewActual: 0.63 for Q4 2025
Q1 2026 Non-GAAP EPS0.690.710.74-24.7%-23.5%Lower NewActual: 0.95 for Q4 2025
2026 Revenue3.81 Bil3.86 Bil3.91 Bil8.3% Higher NewActual: 3.56 Bil for 2025
2026 GAAP EPS2.042.132.2323.4%40.5%Higher NewActual: 1.73 for 2025
2026 Non-GAAP EPS3.423.523.6214.3%44.0%Higher NewActual: 3.08 for 2025

Insider Activity

Updated 6/22/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Schwartz, Mark DavidSenior VP, AECODirectSell417202667.0116,7251,120,7421,317,936Form
2Painter, Robert GPresident & CEODirectSell416202666.947,500502,050796,399Form
3Painter, Robert GPresident & CEODirectSell312202670.457,500528,3751,366,533Form
4Dalton, James Calvin DirectSell303202667.0273349,126835,069Form
5Painter, Robert GPresident & CEODirectSell212202665.147,500488,5501,752,084Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Schwartz, Mark DavidSenior VP, AECODirectSell417202667.0116,7251,120,7421,317,936Form
2Painter, Robert GPresident & CEODirectSell416202666.947,500502,050796,399Form
3Painter, Robert GPresident & CEODirectSell312202670.457,500528,3751,366,533Form
4Dalton, James Calvin DirectSell303202667.0273349,126835,069Form
5Painter, Robert GPresident & CEODirectSell212202665.147,500488,5501,752,084Form
6Painter, Robert GPresident & CEODirectSell115202680.887,500606,6002,782,046Form
7Sawarynski, PhillipCFODirectSell1218202580.452,250181,0122,066,242Form
8Painter, Robert GPresident & CEODirectSell1211202581.397,500610,4253,410,013Form
9Dalton, James Calvin DirectSell1202202581.9961650,5061,081,694Form
10Bisio, RonaldSr. Vice PresidentDirectSell1201202580.872,500202,1756,987,411Form
11Schwartz, Mark DavidSenior VP, AECODirectSell1119202576.831,672128,4601,498,850Form
12Painter, Robert GPresident & CEODirectSell1113202579.507,500596,2506,747,897Form
13Gabriel, Kaigham DirectSell1110202581.001,718139,1581,228,770Form
14Painter, Robert GPresident & CEODirectSell1016202575.657,500567,3756,988,487Form
15Keating, Christopher FSr. VP TransportationDirectSell922202581.747,365602,01533,181Form
16Painter, Robert GPresident & CEODirectSell911202581.317,500609,8258,121,178Form
17Sawarynski, PhillipCFODirectSell911202581.312,250182,9482,271,277Form
18Dalton, James Calvin DirectSell902202582.4160950,1881,138,000Form
19Large, PeterSenior Vice PresidentDirectSell829202581.552,676218,2281,338,684Form
20Bisio, RonaldSr. Vice PresidentDirectSell828202581.552,500203,8757,250,040Form
21Painter, Robert GPresident & CEODirectSell814202582.937,500621,9758,904,957Form
22Painter, Robert GPresident & CEODirectSell812202582.83115,7819,589,9969,515,302Form
23Painter, Robert GPresident & CEODirectSell812202584.5493,0667,867,3909,711,382Form
24Allison, JenniferCorporate VP, General CounselDirectSell714202580.003,156252,480230,551Form
25Schwartz, Mark DavidSenior VP, AECODirectSell714202580.001,404112,3201,680,101Form
26Painter, Robert GPresident & CEODirectSell710202578.867,500591,4509,059,374Form
27Schwartz, Mark DavidSenior VP, AECODirectSell708202578.001,476115,1281,747,611Form
28Bisio, RonaldSr. Vice PresidentDirectSell630202575.002,500187,5006,879,600Form
29Bisio, RonaldSr. Vice PresidentDirectSell618202572.751,500109,1256,855,087Form
30Painter, Robert GPresident & CEODirectSell612202572.477,500543,5258,868,821Form
31Gabriel, Kaigham DirectSell603202570.946,003425,8531,198,035Form
Core Cache Last Updated: 7/4/2026