How does the business serve field work?
Trimble Inc builds software and technology used to measure, map, and manage work in the physical world. Its tools are used across construction and civil engineering workflows, alongside positioning and data-collection needs that depend on reliable field hardware and software. The business also supports agriculture use cases where operators rely on guidance, mapping, and job execution tools. At roughly USD 11.7 billion in market value, it sits in that middle ground where investors still expect meaningful progress, but the company is large enough that each incremental gain has to be earned.
Did profitability hold up as revenue slipped?
FundamentalsFor the year ended 2026-01-02 (reported in USD), revenue came in at USD 3.6 billion, with EBIT of USD 592.0 million and net income of USD 424.0 million. Revenue declined 2.6% versus the prior annual period, while profitability held up with a 19.15% operating margin and a 13.85% net profit margin on a trailing basis.
On the reinvestment and cash side, depreciation and amortization was USD 199.9 million, and the company’s cash flow proxy was USD 706.5 million. Cash was USD 253.4 million against total debt of USD 1.4 billion, keeping the financing stack a visible part of the picture alongside operating results.
Is the price above fair value?
DCF / MultiplesAt USD 50.35, the stock sits above the DCF range that runs from USD 24.61 in a weaker outcome to USD 30.83 at the midpoint and USD 36.21 in a stronger outcome. That pricing also comes with headline multiples of 22.42x trailing earnings and 15.52x EV/EBITDA, alongside 3.11x sales.
Valuation stays demanding
TakeawayThe current price assumes better growth than recent sales show. Reinvestment has to translate into renewed revenue expansion. Margins need to stay resilient while growth re-accelerates. Debt adds pressure if cash generation cools. Without faster top-line momentum, the valuation setup stays demanding.