At a glance
Trimble Inc is worth $15.35B, about 37 times its fiscal 2025 earnings. Revenue fell 2.6% to $3.59B in fiscal 2025, with 11.8% kept as profit; over 5 years it has grown 2.6% a year. It pays no dividend; it spent $1.71B buying back its shares over FY2021–FY2025. The stock returned −17.4% over the past year with dividends reinvested and −5.7% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 53.8% in the 2020 crash (S&P 500: 33.7%) and 40.0% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Trimble sells software, cloud services and hardware to construction, surveying and mapping (called geospatial), natural resources, utility and transportation businesses. Its customers include contractors, architects, engineers, surveyors, energy and utility companies, freight shippers and carriers, and government agencies. Its products connect office staff with field crews so that everyone works from the same project data. Its main platforms include Trimble Connect, where construction teams share design models, and Transporeon, an online marketplace where shippers and carriers arrange freight.
In the fiscal year ended January 2, 2026, Trimble had revenue of $3.59 billion. Of that, 68.4% came from subscriptions and services and 31.6% from product sales. Its software is sold as subscriptions, as term licenses or as one-time perpetual licenses. Customers can use it over the internet as software as a service (SaaS) or run it on their own computers. Trimble sells in more than 160 countries through dealers, direct sales, equipment makers and joint ventures with Caterpillar, AGCO, Hilti and Nikon.
Trimble reports three segments. Field Systems produced 42.9% of revenue, AECO (architects, engineers, construction and owners) produced 41.8%, and Transportation and Logistics produced 15.3%. North America made up 57.9% of sales, Europe 28.5% and Asia Pacific 9.7%. In February 2025, Trimble sold its Mobility business, which made in-cab technology for commercial vehicle fleets, to Platform Science. In return, Trimble got ownership, or rights to ownership, of 32.5% of the combined company.
Price history
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TRMB -17.4% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Subscription and services | $2.45B | 68.4% |
| Product | $1.14B | 31.6% |
By business segment
| Field Systems | $1.54B | 42.9% |
| AECO | $1.50B | 41.8% |
| T&L | $549.2M | 15.3% |
By geography
| North America | $2.08B | 57.9% |
| Europe | $1.02B | 28.5% |
| Asia Pacific | $349.7M | 9.7% |
| Rest of World | $140.1M | 3.9% |
Latest results
- In Q2 FY2026 (ended Jul 3, 2026), revenue was $972.0M, up 11% from a year earlier, and net income was $-471.7M (-628.8%).
- For fiscal 2025, revenue was $3.59B (-2.6% year over year; +2.6% a year from FY2020 to FY2025) with a 11.8% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +2.6% watch |
|---|---|
| Operating margin | 16.5% good |
| Free cash flow margin | 10.1% good |
| Return on equity (FY2025) | 7.3% weak |
| Return on assets (FY2025) | 4.6% watch |
| Net cash (cash minus debt) | $-1.24B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $3.15B | $389.9M | $615.2M |
| FY2021 | $3.66B | $492.7M | $704.4M |
| FY2022 | $3.68B | $449.7M | $348.0M |
| FY2023 | $3.80B | $311.3M | $555.1M |
| FY2024 | $3.68B | $1.50B | $497.8M |
| FY2025 | $3.59B | $424.0M | $360.9M |
Valuation snapshot
| Market value | $15.35B |
|---|---|
| P/E ratio | 37.4 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Trimble’s market value went from $7.56B at the end of 2016 to $15.35B on Nov 2, 2026, about 2.0 times as much; since the end of 2025 it is down 18%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $15.35B | -17.6% |
| 2025 | $18.64B | +7.4% |
| 2024 | $17.36B | +31.2% |
| 2023 | $13.23B | +6.1% |
| 2022 | $12.47B | -43.0% |
| 2021 | $21.89B | +31.0% |
| 2020 | $16.70B | +60.8% |
| 2019 | $10.39B | +25.7% |
| 2018 | $8.27B | -19.2% |
| 2017 | $10.23B | +35.4% |
| 2016 | $7.56B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| TRMB price data to Nov 2, 2026 | -16.0% | -17.4% | +16.3% | -5.7% | +9.9% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -16.0% |
| 2025 | +10.9% |
| 2024 | +32.8% |
| 2023 | +5.2% |
| 2022 | -42.0% |
| 2021 | +30.6% |
| 2020 | +60.2% |
| 2019 | +26.7% |
| 2018 | -19.0% |
| 2017 | +34.8% |
| 2016 | +40.6% |
| 2015 | -19.2% |
| 2014 | -23.5% |
| 2013 | +16.1% |
| 2012 | +37.7% |
| 2011 | +8.7% |
| 2010 | +58.5% |
| 2009 | +16.6% |
| 2008 | -28.5% |
| 2007 | +19.2% |
| 2006 | +42.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 71.2% over that stretch · deepest drop along the way 71.9%, back to its old high 22.2 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 42.3% over that stretch · deepest drop along the way 53.8%, back to its old high 4.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 40% over that stretch · deepest drop along the way 40%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 5 sales ($1.9M), 5 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Apr 16, 2026 | Mark David Schwartz Senior VP, AECO | sell (plan) | $566K |
| Apr 16, 2026 | Mark David Schwartz Senior VP, AECO | sell (plan) | $555K |
| Apr 14, 2026 | Robert G Painter President & CEO, Director | sell (plan) | $502K |
| Oct 29, 2026 | Kaigham Gabriel Director | sell (plan) | $161K |
| Aug 4, 2026 | Kaigham Gabriel Director | sell (plan) | $103K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.57% | Mar 31, 2026 |
| BlackRock, Inc. | 6.7% | Sep 30, 2026 |
| Ameriprise Financial, Inc. | 5.4% | Jun 30, 2026 |
| Vanguard Portfolio Management | 5.33% | Mar 31, 2026 |
| STATE STREET CORPORATION | 5% | Jun 30, 2026 |
| Morgan Stanley | 4.1% | Mar 31, 2026 |
ETFs with the most weight in TRMB
| ARKX ARK Space Exploration & Innovation ETF | 5.96% |
| UFO Procure Space ETF | 4.47% |
| ARKQ ARK Autonomous Technology & Robotics ETF | 4.27% |
| IVEG iShares Emergent Food and AgTech Multisector ETF | 3.13% |
| QQJG Invesco ESG NASDAQ Next Gen 100 ETF | 1.78% |
| ANEW ProShares MSCI Transformational Changes ETF | 1.42% |
| QQQJ Invesco NASDAQ Next Gen 100 ETF | 1.05% |
| KROP Global X AgTech & Food Innovation ETF | 1.02% |
What could go wrong
- Products depend on satellite positioning signals. Many products rely on GNSS, which means satellite positioning systems such as GPS. If the satellites degrade, or new radio uses interfere with the frequencies Trimble relies on, products could stop working properly and revenue could fall.
- Weaknesses in financial reporting controls. Trimble has found material weaknesses. These are gaps in its controls serious enough that errors in its financial statements might not be caught. If the fixes fail, reports could be late or inaccurate, or break legal requirements.
- Stakes in sold businesses it doesn't control. Trimble keeps minority stakes and business ties with units it sold, including a joint venture with AGCO and its stake in Platform Science. Trimble does not control them, and they may not deliver the expected benefits.
- Changes to software sales could hit revenue. Subscriptions and services made up 68.4% of revenue. Moving customers from one-time licenses to subscriptions, or changing how software is packaged and priced, can delay or reduce reported revenue.
- Few suppliers and AI-driven parts shortages. Trimble relies on a few contract manufacturers, and some suppliers are the only source of certain materials. Heavy buying by large AI companies has made some components harder and more expensive to get.
- Construction slowdowns, tariffs and trade barriers. Demand depends on the health of the engineering, construction and transportation markets. Recessions, new tariffs or trade restrictions could cut orders or raise costs. With 28.5% of sales in Europe, currency swings also matter.
Recent events
- Major agreement signed; New debt or financial obligation
- Quarterly results released; Other company announcement
- Shareholder vote results; Other company announcement
- Executive or board change; Other company announcement
- Quarterly results released
- Executive or board change
- Quarterly results released
- Major agreement signed; Major agreement ended; New debt or financial obligation; Other company announcement
- Quarterly results released
For income and retirement investors
Trimble paid no dividends from fiscal 2021 through fiscal 2025, so the stock provides no regular income. An investor who needs cash from it would have to sell shares. Instead, the company buys back its own stock. It spent $1.71 billion on buybacks over those five years, including $863.4 million in fiscal 2025. That was well above fiscal 2025 free cash flow of $360.9 million (the cash left after running and investing in the business). The share count fell 7.1% between November 1, 2021 and August 7, 2026. The stock has fallen hard in downturns. It lost 71.9% in the 2008 financial crisis and did not recover until January 2011. It dropped 53.8% in the 2020 COVID crash but recovered by August 2020. In the 2022 bear market it fell 40%, and it had not regained its January 2022 peak as of October 28, 2026. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Trimble make money?
Mainly from software subscriptions and services sold to construction, surveying, utility and transportation businesses. In the fiscal year ended January 2, 2026, 68.4% of its $3.59 billion in revenue came from subscriptions and services and 31.6% from product sales. By segment, Field Systems contributed 42.9%, AECO (architects, engineers, construction and owners) 41.8%, and Transportation and Logistics 15.3%. North America supplied 57.9% of sales and Europe 28.5%.
Does Trimble pay a dividend?
No. Trimble paid no dividends from fiscal 2021 through fiscal 2025, so the stock provides no regular income. Instead, the company returns cash by buying back its own shares. It spent $1.71 billion on buybacks over those five years, including $863.4 million in fiscal 2025. That helped cut the share count by 7.1% between November 2021 and August 2026. An investor who wants income from Trimble would have to sell shares to raise cash.
Is Trimble profitable?
Yes for the full year, though results swing. In the fiscal year ended January 2, 2026, Trimble earned $424.0 million, or $1.76 per diluted share, on $3.59 billion of revenue. That is a net margin of 11.8%. Profit was 71.8% below fiscal 2024's unusually high $1.50 billion. In the quarter ended July 3, 2026, revenue rose 11% from a year earlier to $972.0 million, but the company reported a net loss of $471.7 million.
How much debt does Trimble have?
About $1.46 billion as of July 3, 2026, against $214.4 million of cash and investments. That leaves net debt of roughly $1.24 billion. Shareholders' equity was $5.11 billion and total assets were $8.54 billion. On October 2, 2026, Trimble reported a major new agreement and a new debt obligation. Its 10-K annual report lists debt as a risk because interest and repayments could strain cash flow and its ability to meet financial obligations.
How has Trimble stock performed over the long term?
Unevenly. As of October 28, 2026, the share price was down 20.1% over one year and 27% over five years. It was up 40% over three years and 134% over ten years, or about 8.9% a year. In the year to that date, the stock fell 41.5% from its high to its low. It traded at a price-to-earnings (P/E) ratio of about 36.6, based on fiscal 2025 earnings. Its market value was about $15.0 billion.