Track market-moving stories before they get noisy

Trimble Navigation (TRMB - Free Report) closed the last trading session at $51.85, gaining 5.4% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $79.83 indicates a 54% upside potential.

The mean estimate comprises 12 short-term price targets with a standard deviation of $13.18. While the lowest estimate of $55.00 indicates a 6.1% increase from the current price level, the most optimistic analyst expects the stock to surge 90.9% to reach $99.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.

But, for TRMB, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.

Price, Consensus and EPS Surprise

Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.

While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?

They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.

However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.

Why TRMB Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Over the last 30 days, the Zacks Consensus Estimate for the current year has increased 0.3%, as one estimate has moved higher compared to no negative revision.

Moreover, TRMB currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Therefore, while the consensus price target may not be a reliable indicator of how much TRMB could gain, the direction of price movement it implies does appear to be a good guide.

Posted by Defense World Staff on Jul 22nd, 2026

Bank of New York Mellon Corp lessened its stake in Trimble Inc. (NASDAQ:TRMB – Free Report) by 12.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,213,381 shares of the scientific and technical instruments company’s stock after selling 165,132 shares during the period. Bank of New York Mellon Corp owned 0.52% of Trimble worth $79,149,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its stake in shares of Trimble by 4.0% during the first quarter. Sanctuary Advisors LLC now owns 27,411 shares of the scientific and technical instruments company’s stock valued at $1,788,000 after acquiring an additional 1,065 shares in the last quarter. Calamos Advisors LLC purchased a new stake in shares of Trimble in the first quarter valued at approximately $213,000. J. Safra Sarasin Holding AG grew its stake in Trimble by 2.1% in the first quarter. J. Safra Sarasin Holding AG now owns 136,761 shares of the scientific and technical instruments company’s stock worth $8,901,000 after purchasing an additional 2,811 shares in the last quarter. Lifeworks Advisors LLC increased its holdings in Trimble by 13.8% during the 1st quarter. Lifeworks Advisors LLC now owns 8,502 shares of the scientific and technical instruments company’s stock worth $555,000 after purchasing an additional 1,033 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Trimble by 383.5% during the 1st quarter. Fifth Third Bancorp now owns 65,539 shares of the scientific and technical instruments company’s stock worth $4,275,000 after purchasing an additional 51,984 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Stock Performance TRMB opened at $51.85 on Wednesday. The company has a market cap of $12.09 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 1.77 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $53.02 and its 200-day moving average price is $63.00. Trimble Inc. has a 52-week low of $47.92 and a 52-week high of $87.50.

Trimble (NASDAQ:TRMB – Get Free Report) last released its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.07. The company had revenue of $939.90 million for the quarter, compared to the consensus estimate of $905.60 million. Trimble had a net margin of 12.38% and a return on equity of 11.61%. Trimble’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 EPS. Trimble has set its Q2 2026 guidance at 0.780-0.820 EPS and its FY 2026 guidance at 3.470-3.640 EPS. As a group, equities analysts anticipate that Trimble Inc. will post 3 EPS for the current fiscal year.

Wall Street Analyst Weigh In A number of research firms have recently issued reports on TRMB. Barclays dropped their price objective on shares of Trimble from $103.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Wells Fargo & Company lowered their target price on Trimble from $70.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Weiss Ratings cut Trimble from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Zacks Research downgraded Trimble from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Robert W. Baird reduced their price target on Trimble from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, March 30th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Trimble has a consensus rating of “Moderate Buy” and an average price target of $83.78.

Check Out Our Latest Stock Analysis on TRMB

About Trimble (Free Report)

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.

See Also Five stocks we like better than Trimble Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding TRMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trimble Inc. (NASDAQ:TRMB – Free Report).

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WESTMINSTER, Colo., April 22, 2026 /PRNewswire/ -- Trimble (Nasdaq: TRMB) will hold a conference call on Wednesday, May 6, 2026 at 8 a.m. ET to review its first quarter 2026 results. The call will be broadcast live on the web at https://events.q4inc.com/attendee/544327873. Analysts who wish to dial into the call may do so by first registering at https://events.q4inc.com/analyst/544327873?pwd=s5ilhwSm. Upon registration, dial-in details will be sent via email to the registrant.

About Trimble

Trimble is a global technology company that connects the physical and digital worlds, transforming the ways work gets done. With relentless innovation in precise positioning, modeling and data analytics, Trimble enables essential industries including construction, geospatial and transportation. Whether it is helping customers build and maintain infrastructure, design and construct buildings, optimize global supply chains or map the world, Trimble is at the forefront, driving productivity and progress. For more information about Trimble (Nasdaq: TRMB), visit: www.trimble.com.

FTRMB

SOURCE Trimble

Also from this source

Trusted, intuitive AI enhances design workflows, making it easier to move from creative concepts to 3D models

, /PRNewswire/ -- Trimble (Nasdaq: TRMB) today announced a specialized integration with Claude, the large language model and AI assistant from Anthropic, that makes it easier for Trimble® SketchUp® software users to create 3D models directly from conversational text or speech prompts.

Trimble Links SketchUp with Anthropic’s Claude, Bringing New Conversational AI-powered Capabilities to 3D Modeling The powerful new capabilities are enabled by a SketchUp Connector model context protocol (MCP) service that allows Claude to interact directly with SketchUp (.skp) files. The connectivity enhances existing design workflows and expands access to 3D modeling for people at any skill level.

Trimble SketchUp is a professional-grade 3D modeling software used widely in architecture, design, construction and other fields. This is the first Connector created by Trimble that connects the SketchUp design environment with other tools via the MCP framework.

Conversational 3D modeling
The SketchUp Connector integration with Claude lets users create 3D geometry, such as building massing models, landscapes or furniture by simply describing what they want. Plain-language inputs alongside reference images, sketches, photos, floor plans and dimensions that users upload can give Claude the context needed to understand the design goal. Claude builds the geometry in a cloud SketchUp session, verifying dimensions iteratively.

"The learning curve and time it takes for professionals to transfer a vision to a digital model has traditionally been the biggest barrier to 3D modeling," said Chris Cronin, vice president and general manager of architecture and design solutions at Trimble. "Natural language prompts and the power of AI make it easy for anyone to get started and excel, including inexperienced and non-traditional 3D design users, bringing us closer to our '3D for everyone' goal."

The specialized Claude integration for SketchUp is consistent with Trimble-wide initiatives to democratize advanced technology and make them available and accessible to a wider range of users, according to Cronin.

Additional 3D modeling advantages
In addition to allowing natural language prompts, the SketchUp Claude Connector tracks version history within a single chat, enabling users to rapidly navigate, troubleshoot and refine their 3D models. If a design is not quite accurate, users can describe necessary changes or paste screenshots from SketchUp directly into the chat to point out specific angles, proportions or elements that need adjustment.

When a model is completed, the Connector creates a 2D preview thumbnail and provides a direct download link to the .skp file. Users can instantly download, open and edit the file in any SketchUp modeler.

Users can also design and train Claude on core skills and unique workflows to complete repetitive tasks more quickly and efficiently.

Availability
Users can get started today by enabling Trimble SketchUp in Claude's MCP directory connector settings. Accessing the Connector requires a Claude account and a Trimble ID for authentication. Users receive a free SketchUp entitlement that allows them to save up to 30 SketchUp models; after that, a paid entitlement is required. Resulting files can be opened in SketchUp for Web, Desktop, iPad or iPhone.

About Trimble
Trimble is a global technology company that connects the physical and digital worlds, transforming the ways work gets done. With relentless innovation in precise positioning, modeling and data analytics, Trimble enables essential industries including construction, geospatial and transportation. Whether it's helping customers build and maintain infrastructure, design and construct buildings, optimize global supply chains or map the world, Trimble is at the forefront, driving productivity and progress. For more information about Trimble (Nasdaq: TRMB), visit: www.trimble.com.

FTRMB

SOURCE Trimble

Record annualized recurring revenue, reflecting ongoing execution of the Connect & Scale strategy Record first quarter gross margins and operating income margins First quarter results exceeded expectations Share repurchases of $317 million Raising full year 2026 guidance , /PRNewswire/ -- Trimble Inc. (Nasdaq: TRMB) today announced financial results for the first quarter of 2026.

First Quarter 2026 Financial Highlights

Revenue of $939.9 million, up 12 percent on a year-over-year basis, up 12 percent on an organic basis Annualized recurring revenue ("ARR") was $2.43 billion, up 12 percent year-over-year, up 12 percent on an organic basis GAAP operating income was $144.0 million, 15.3 percent of revenue, and non-GAAP operating income was $243.2 million, 25.9 percent of revenue GAAP net income was $98.9 million and non-GAAP net income was $186.9 million Diluted earnings per share ("EPS") was $0.42 on a GAAP basis and $0.79 on a non-GAAP basis Adjusted EBITDA was $257.7 million, 27.4 percent of revenue During the first quarter, Trimble repurchased approximately 4.7 million shares for $316.9 million Executive Quote

"We began the year with strong momentum, delivering record annualized recurring revenue of $2.435 billion in the first quarter, and surpassing expectations on both top and bottom lines," said Rob Painter, president and CEO of Trimble. "Our Connect & Scale strategy connects people, data, workflow and ecosystems. In an AI-forward world, Trimble is the intelligence and execution layer that reconciles the digital model with physical reality."

Forward-Looking Guidance

For the full-year 2026, Trimble expects to report revenue between $3,835 million and $3,915 million, GAAP earnings per share of $2.05 to $2.21, and non-GAAP earnings per share of $3.47 to $3.64. GAAP guidance assumes a tax rate of 21.0 percent and non-GAAP guidance assumes a tax rate of 17.5 percent. Both GAAP and non-GAAP earnings per share assume approximately 235 million shares outstanding.

For the second quarter of 2026, Trimble expects to report revenue between $938 million and $963 million, GAAP earnings per share of $0.38 to $0.42, and non-GAAP earnings per share of $0.78 to $0.82. GAAP guidance assumes a tax rate of 23.0 percent and non-GAAP guidance assumes a tax rate of 17.5 percent. Both GAAP and non-GAAP earnings per share assume approximately 234 million shares outstanding.

A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures and other information relating to these non-GAAP measures are included in the supplemental reconciliation schedule attached.

Investor Conference Call / Webcast Details

Trimble will hold a conference call on May 6, 2026 at 8:00 a.m. ET to review its first quarter of 2026 results. An accompanying slide presentation will be made available on the "Investors" section of the Trimble website, https://investor.trimble.com, under the subheading "Events & Presentations." The call will be broadcast live on the web at https://investor.trimble.com. Investors and participants who wish to dial into the call may do so by first registering at https://events.q4inc.com/analyst/544327873?pwd=s5ilhwSm. Upon registration, dial-in details will be sent via email to the registrant. A replay will also be available on the web at the address above.

About Trimble

Trimble is a global technology company that connects the physical and digital worlds, transforming the ways work gets done. With relentless innovation in precise positioning, modeling and data analytics, Trimble enables essential industries including construction, geospatial and transportation. Whether it's helping customers build and maintain infrastructure, design and construct buildings, optimize global supply chains or map the world, Trimble is at the forefront, driving productivity and progress. For more information about Trimble (Nasdaq: TRMB), visit: https://www.trimble.com.

Safe Harbor

Certain statements made in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements include expectations about our future financial and operational results. These forward-looking statements are subject to change, and actual results may materially differ due to certain risks and uncertainties. The Company's results may be adversely affected if the Company is unable to market, manufacture and ship new products, obtain new customers, effectively integrate new acquisitions or consummate divestitures in a timely manner, or get the benefits we are expecting from our joint ventures and partnerships, including with Platform Science. The Company's results could also be negatively impacted due to the general global macroeconomic outlook, including heightened trade tensions and related uncertainty of tariffs (including certain tariff refunds) and export control restrictions between the U.S. and its trading partners, and associated supply chain disruptions, slowing growth, inflationary pressures, and fluctuations in interest rates, which may affect demand for our products and services, increase our costs and adversely affect our revenues and profitability; the pace at which our dealers work through their inventory; changes in our distribution channels; adverse geopolitical tensions and the ongoing impact of volatility and conflict in the political and economic environment, including the Middle East conflict, and the direct and indirect impact on our business; fluctuations in foreign currency exchange rates; the pace that we transition our business model towards a subscription model; the impact and risks of AI and AI-related developments; the impact of acquisitions or divestitures; and our ability to maintain effective internal controls over financial reporting, including our ability to remediate our material weaknesses in our internal controls over financial reporting. Any failure to achieve predicted results could negatively impact the Company's revenue, cash flow from operations, and other financial results. The Company's financial results will also depend on a number of other factors and risks detailed from time to time in reports filed with the SEC, including our quarterly reports on Form 10-Q and our annual report on Form 10-K. Undue reliance should not be placed on any forward-looking statement contained herein. These statements reflect the Company's position as of the date of this release. The Company expressly disclaims any undertaking to release publicly any updates or revisions to any statements to reflect any change in the Company's expectations or any change of events, conditions, or circumstances on which any such statement is based.

FTRMB

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In millions, except per share data)

(Unaudited)

First Quarter of

2026

2025

Revenue:

Product

$                       311.2

$                       271.6

Subscription and services

628.7

569.0

Total revenue

939.9

840.6

Cost of sales:

Product

158.2

143.7

Subscription and services

119.3

119.7

Amortization of purchased intangible assets

16.1

16.4

Total cost of sales

293.6

279.8

Gross margin

646.3

560.8

Gross margin (%)

68.8 %

66.7 %

Operating expense:

Research and development

169.5

158.5

Sales and marketing

176.1

153.2

General and administrative

126.7

121.5

Restructuring

2.9

4.5

Amortization of purchased intangible assets

27.1

25.6

Total operating expense

502.3

463.3

Operating income

144.0

97.5

Non-operating (expense) income, net:

Interest expense, net

(19.5)

(15.6)

Income from equity method investments, net

0.8

1.0

Other income, net

6.0

3.5

Total non-operating expense, net

(12.7)

(11.1)

Income before taxes

131.3

86.4

Income tax provision

32.4

19.7

Net income

$                          98.9

$                          66.7

Earnings per share:

Basic

$                          0.42

$                          0.27

Diluted

$                          0.42

$                          0.27

Shares used in calculating earnings per share:

Basic

234.5

243.3

Diluted

236.9

246.2

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions)

(Unaudited)

As of

First Quarter of

Year End

2026

2025

Assets

Current assets:

Cash and cash equivalents

$                               234.1

$                               253.4

Accounts receivable, net

617.5

856.0

Inventories

188.0

186.3

Prepaid expenses

122.8

102.7

Other current assets

230.3

233.5

Total current assets

1,392.7

1,631.9

Property and equipment, net

180.8

182.8

Goodwill

5,213.6

5,239.7

Other purchased intangible assets, net

872.1

924.1

Deferred income tax assets

256.4

260.0

Equity investments

616.8

610.8

Other non-current assets

458.6

462.7

Total assets

$                            8,991.0

$                            9,312.0

Liabilities and Stockholders' Equity

Current liabilities:

Short-term debt

$                                 10.3

$                                     —

Accounts payable

175.7

168.3

Accrued compensation and benefits

125.4

211.7

Deferred revenue

863.2

894.0

Income taxes payable

15.5

17.7

Other current liabilities

183.6

211.7

Total current liabilities

1,373.7

1,503.4

Long-term debt

1,402.5

1,392.2

Deferred revenue, non-current

107.5

104.7

Deferred income tax liabilities

189.1

190.5

Other non-current liabilities

281.0

285.0

Total liabilities

3,353.8

3,475.8

Stockholders' equity:

Common stock

0.2

0.2

Additional paid-in-capital

2,448.6

2,437.9

Retained earnings

3,217.2

3,387.6

Accumulated other comprehensive (loss) income

(28.8)

10.5

Total stockholders' equity

5,637.2

5,836.2

Total liabilities and stockholders' equity

$                            8,991.0

$                            9,312.0

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

First Quarter of

2026

2025

Cash flow from operating activities:

Net income

$                                 98.9

$                                 66.7

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

49.9

48.9

Deferred income taxes

4.3

(26.7)

Stock-based compensation

41.8

38.4

Other, net

(2.3)

4.0

(Increase) decrease in assets:

Accounts receivable, net

234.1

206.1

Inventories

(0.8)

3.4

Other current and non-current assets

(17.0)

35.8

Increase (decrease) in liabilities:

Accounts payable

8.4

(1.4)

Accrued compensation and benefits

(85.4)

(120.1)

Deferred revenue

(26.2)

(13.5)

Income taxes payable

(2.3)

(50.2)

Other current and non-current liabilities

(28.7)

(35.8)

Net cash provided by operating activities

274.7

155.6

Cash flow from investing activities:

Divestitures of businesses, net of cash divested

—

(7.3)

Purchases of property and equipment

(6.1)

(6.6)

Other, net

1.0

(0.6)

Net cash used in investing activities

(5.1)

(14.5)

Cash flow from financing activities:

Issuance of common stock, net of tax withholdings

16.7

16.3

Repurchases of common stock

(322.8)

(627.4)

Proceeds from debt and revolving credit lines

167.2

114.7

Payments on debt and revolving credit lines

(147.0)

(114.7)

Net cash used in financing activities

(285.9)

(611.1)

Effect of exchange rate changes on cash and cash equivalents

(3.0)

12.2

Net decrease in cash and cash equivalents

(19.3)

(457.8)

Cash and cash equivalents - beginning of period (1)

253.4

747.8

Cash and cash equivalents - end of period

$                               234.1

$                               290.0

Supplemental cash flow disclosure:

Cash paid for income taxes, net

$                                 11.4

$                                 48.3

(1) Includes $9.0 million of cash and cash equivalents classified as held for sale as of January 3, 2025.

REPORTING SEGMENTS

(In millions)

(Unaudited)

Reportable Segments

AECO

Field Systems

T&L

First Quarter of 2026

Segment revenue

$                   391.1

$                   409.2

$                   139.6

Cost of sales

62.7

175.0

34.4

Operating expense

205.3

116.2

71.4

Operating income

$                   123.1

$                   118.0

$                     33.8

Operating income %

31.5 %

28.8 %

24.2 %

First Quarter of 2025

Segment revenue

$                   335.4

$                   359.2

$                   146.0

Cost of sales

58.9

154.2

44.6

Operating expense

184.9

98.4

75.3

Operating income

$                     91.6

$                   106.6

$                     26.1

Operating income %

27.3 %

29.7 %

17.9 %

GAAP TO NON-GAAP RECONCILIATION

(Dollars in millions, except per share data)

(Unaudited)

First Quarter of

2026

2025

Dollar
Amount

% of
Revenue

Dollar
Amount

% of
Revenue

REVENUE:

GAAP revenue:

$          939.9

$          840.6

GROSS MARGIN:

GAAP gross margin:

$          646.3

68.8 %

$          560.8

66.7 %

Amortization of purchased intangible assets

(A)

16.1

16.4

Stock-based compensation / deferred compensation

(C)

4.2

4.3

Restructuring and other costs

(D)

0.3

0.2

Non-GAAP gross margin:

$          666.9

71.0 %

$          581.7

69.2 %

OPERATING EXPENSES:

GAAP operating expenses:

$          502.3

53.4 %

$          463.3

55.1 %

Amortization of purchased intangible assets

(A)

(27.1)

(25.6)

Acquisition / divestiture items

(B)

(5.9)

(8.9)

Stock-based compensation / deferred compensation

(C)

(39.5)

(33.2)

Restructuring and other costs

(D)

(6.1)

(12.1)

Non-GAAP operating expenses:

$          423.7

45.1 %

$          383.5

45.6 %

OPERATING INCOME:

GAAP operating income:

$          144.0

15.3 %

$           97.5

11.6 %

Amortization of purchased intangible assets

(A)

43.2

42.0

Acquisition / divestiture items

(B)

5.9

8.9

Stock-based compensation / deferred compensation

(C)

43.7

37.5

Restructuring and other costs

(D)

6.4

12.3

Non-GAAP operating income:

$          243.2

25.9 %

$          198.2

23.6 %

NON-OPERATING EXPENSE, NET:

GAAP non-operating expense, net:

$          (12.7)

$          (11.1)

Acquisition / divestiture items

(B)

(4.1)

(5.3)

Deferred compensation

(C)

(2.0)

0.9

Restructuring and other costs

(D)

1.9

0.1

Non-GAAP non-operating expense, net:

$          (16.9)

$          (15.4)

Tax Rate %

Tax Rate %

(F)

(F)

INCOME TAX PROVISION:

GAAP income tax provision:

$           32.4

24.7 %

$           19.7

22.8 %

Non-GAAP items tax effected

(E)

7.0

11.7

Non-GAAP income tax provision:

$           39.4

17.4 %

$           31.4

17.2 %

NET INCOME:

GAAP net income:

$           98.9

$           66.7

Amortization of purchased intangible assets

(A)

43.2

42.0

Acquisition / divestiture items

(B)

1.8

3.6

Stock-based compensation

(C)

41.7

38.4

Restructuring and other costs

(D)

8.3

12.4

Non-GAAP tax adjustments

(E)

(7.0)

(11.7)

Non-GAAP net income:

$          186.9

$          151.4

DILUTED NET INCOME PER SHARE:

GAAP diluted net income per share:

$           0.42

$           0.27

Amortization of purchased intangible assets

(A)

0.18

0.17

Acquisition / divestiture items

(B)

0.01

0.01

Stock-based compensation

(C)

0.18

0.16

Restructuring and other costs

(D)

0.03

0.05

Non-GAAP tax adjustments

(E)

(0.03)

(0.05)

Non-GAAP diluted net income per share:

$           0.79

$           0.61

ADJUSTED EBITDA:

GAAP operating income:

$          144.0

15.3 %

$           97.5

11.6 %

Amortization of purchased intangible assets

(A)

43.2

42.0

Acquisition / divestiture items

(B)

5.9

8.9

Stock-based compensation / deferred compensation

(C)

43.7

37.5

Restructuring and other costs

(D)

6.4

12.3

Non-GAAP operating income:

243.2

25.9 %

198.2

23.6 %

Depreciation expense and cloud computing amortization

11.8

12.0

Income from equity method investments, net

2.7

1.9

Adjusted EBITDA:

$          257.7

27.4 %

$          212.1

25.2 %

First Quarter of

2026

2025

FREE CASH FLOW:

Net cash provided by operating activities

$                                274.7

$                                155.6

Capital expenditures

6.1

6.6

Free cash flow

$                                268.6

$                                149.0

Second Quarter of 2026

Year 2026

Low End

High End

Low End

High End

FORECASTED DILUTED NET INCOME PER SHARE:

Forecasted GAAP diluted net income per share:

$           0.38

$        0.42

$           2.05

$        2.21

Amortization of purchased intangible assets

(A)

0.18

0.18

0.72

0.72

Acquisition / divestiture items

(B)

0.06

0.06

0.09

0.09

Stock-based compensation

(C)

0.18

0.18

0.67

0.67

Restructuring and other costs

(D)

0.03

0.03

0.13

0.13

Non-GAAP tax adjustments

(E)

(0.05)

(0.05)

(0.19)

(0.18)

Forecasted non-GAAP diluted net income per share:

$           0.78

$        0.82

$           3.47

$        3.64

FOOTNOTES TO GAAP TO NON-GAAP RECONCILIATION

This press release includes GAAP financial measures as well as non-GAAP financial measures, which are not meant to be considered in isolation or as a substitute for comparable GAAP measures. We believe non-GAAP financial measures provide useful information to investors and others in understanding our "core operating performance", which excludes (i) the effect of non-cash items and certain variable charges not expected to recur and (ii) transactions that are not meaningful in comparison to our past operating performance or not reflective of ongoing financial results. Lastly, we believe that our core operating performance offers a supplemental measure for period-to-period comparisons and can be used to evaluate our historical and prospective financial performance, as well as our performance relative to competitors.

The non-GAAP definitions and explanations to the adjustments to comparable GAAP measures are included below:

Non-GAAP Definitions

Non-GAAP gross margin

We define Non-GAAP gross margin as GAAP gross margin, excluding the effects of amortization of purchased intangible assets, stock-based compensation, deferred compensation, and restructuring and other costs. We believe our investors benefit by understanding our non-GAAP gross margin as a way of understanding how product mix, pricing decisions, and manufacturing costs influence our business.

Non-GAAP operating expenses

We define Non-GAAP operating expenses as GAAP operating expenses, excluding the effects of amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, deferred compensation, and restructuring and other costs. We believe this measure is important to investors evaluating our non-GAAP spending in relation to revenue.

Non-GAAP operating income

We define Non-GAAP operating income as GAAP operating income, excluding the effects of amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, deferred compensation, and restructuring and other costs. We believe our investors benefit by understanding our non-GAAP operating income trends, which are driven by revenue, gross margin, and spending.

Non-GAAP non-operating expense, net

We define Non-GAAP non-operating expense, net as GAAP non-operating (expense) income, net, excluding acquisition/divestiture items, deferred compensation, and restructuring and other costs. We believe this measure helps investors evaluate our non-operating expense trends.

Non-GAAP income tax provision

We define non-GAAP income tax provision as the GAAP income tax provision adjusted for the tax effects of the non-GAAP pre-tax adjustments (A) through (D), excluding certain tax charges and benefits such as net deferred tax impacts resulting from tax amortization related to a non-U.S. intercompany transfer of intellectual property and certain acquisitions, deferred tax impacts from net controlled foreign corporation tested income ("net CFC tested income", formerly referred to as global intangible low-taxed income or "GILTI"), significant reserve releases upon the expiration of statute of limitations and audit closures, and tax law changes. We believe this measure helps investors because it provides for consistent treatment of excluded items in our non-GAAP presentation.

Non-GAAP net income

We define Non-GAAP net income as GAAP net income, excluding the effects of amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, restructuring and other costs, and non-GAAP tax adjustments. This measure provides a supplemental view of net income trends, which are driven by non-GAAP income before taxes and our non-GAAP tax rate.

Non-GAAP diluted net income per share

We define Non-GAAP diluted net income per share as GAAP diluted net income per share, excluding the effects of amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, restructuring and other costs, and non-GAAP tax adjustments. We believe our investors benefit by understanding our non-GAAP operating performance as reflected in a per share calculation as a way of measuring non-GAAP operating performance by ownership in the Company.

Adjusted EBITDA

We define Adjusted EBITDA as non-GAAP operating income plus depreciation expense, cloud computing amortization, and income from equity method investments, net, excluding our proportionate share of items such as goodwill impairment, amortization of purchased intangibles, stock-based compensation, and restructuring costs. Other companies may define Adjusted EBITDA differently. Adjusted EBITDA is a performance measure that we believe offers a useful view of the overall operations of our business because it facilitates operating performance comparisons by removing potential differences caused by variations unrelated to operating performance, such as capital structures (interest expense), income taxes, depreciation, amortization of purchased intangibles and cloud computing costs, and income from equity method investments, net.

Free Cash Flow

We define free cash flow as cash flow from operating activities minus capital expenditures. We believe this measure is important to investors evaluating our generation of cash flow.

Explanations of Non-GAAP adjustments

(A) 

Amortization of purchased intangible assets. Non-GAAP gross margin and operating expenses exclude the amortization of purchased intangible assets, which primarily represents technology and/or customer relationships already developed.

(B) 

Acquisition / divestiture items. Non-GAAP gross margin and operating expenses exclude costs consisting of external and incremental costs resulting directly from acquisitions, divestitures, and strategic investment activities such as legal, due diligence, integration, and other costs, including the acceleration of acquisition stock awards and adjustments to the fair value of earn-out liabilities. Non-GAAP non-operating expense, net, excludes one-time acquisition/divestiture charges, including foreign currency exchange rate gains/losses related to an acquisition, divestiture gains/losses, and strategic investment gains/losses. These are one-time costs that vary significantly in amount and timing and are not indicative of our core operating performance.

(C) 

Stock-based compensation / deferred compensation. Non-GAAP gross margin and operating expenses exclude stock-based compensation and income or expense associated with movement in our non-qualified deferred compensation plan liabilities. Changes in non-qualified deferred compensation plan assets, included in non-operating expense, net, offset the income or expense in the plan liabilities.

(D) 

Restructuring and other costs. Non-GAAP gross margin and operating expenses exclude restructuring costs composed of termination benefits related to reductions in employee headcount, closure or exit of facilities, and cancellation of certain contracts, and other costs composed of one-time incremental expenses resulting from the re-audit and related remediation of control deficiencies. Non-GAAP non-operating expense net, excludes our proportionate share of items recorded in income from equity method investment items, such as goodwill impairment, amortization of purchased intangibles, stock-based compensation, and restructuring costs.

(E) 

Non-GAAP items tax effected. This amount represents the income tax effect of non-GAAP pre-tax adjustments, excluding certain tax charges and benefits, which reconcile the GAAP income tax provision to the non-GAAP income tax provision. 

(F) 

Tax rate percentages. These percentages are defined as GAAP income tax provision as a percentage of GAAP income before taxes and non-GAAP income tax provision as a percentage of non-GAAP income before taxes. 

OTHER KEY METRICS

Annualized Recurring Revenue 

In addition to providing non-GAAP financial measures, Trimble provides an ARR performance measure in order to provide investors with a supplementary indicator of the value of the Company's current recurring revenue contracts. ARR represents the estimated annualized value of recurring revenue. ARR is calculated by taking our subscription and maintenance and support revenue for the current quarter and adding the portion of the contract value of all our term licenses attributable to the current quarter, then dividing that sum by the number of days in the quarter and then multiplying that quotient by 365. ARR should be viewed independently of revenue and deferred revenue as it is a performance measure and is not intended to be combined with or to replace either of those items.

Organic Annualized Recurring Revenue

Organic annualized recurring revenue refers to annualized recurring revenue excluding the impacts of (i) foreign currency translation, and (ii) acquisitions and divestitures that closed in the prior 12 months.

Organic Revenue

Organic revenue refers to revenue excluding the impacts of (i) foreign currency translation, and (ii) acquisitions and divestitures that closed in the prior 12 months.

SOURCE Trimble

Trimble Navigation (TRMB - Free Report) came out with quarterly earnings of $0.79 per share, beating the Zacks Consensus Estimate of $0.72 per share. This compares to earnings of $0.61 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +10.03%. A quarter ago, it was expected that this GPS manufacturer would post earnings of $0.96 per share when it actually produced earnings of $1, delivering a surprise of +4.17%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Trimble, which belongs to the Zacks Manufacturing - General Industrial industry, posted revenues of $939.9 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 4.00%. This compares to year-ago revenues of $840.6 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Trimble shares have lost about 12.7% since the beginning of the year versus the S&P 500's gain of 6%.

What's Next for Trimble?While Trimble has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Trimble was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.80 on $943.83 million in revenues for the coming quarter and $3.55 on $3.86 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Manufacturing - General Industrial is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Chart Industries (GTLS - Free Report) , is yet to report results for the quarter ended March 2026.

This equipment maker for the energy sector is expected to post quarterly earnings of $2.16 per share in its upcoming report, which represents a year-over-year change of +16.1%. The consensus EPS estimate for the quarter has been revised 10.9% lower over the last 30 days to the current level.

Chart Industries' revenues are expected to be $1.05 billion, up 4.5% from the year-ago quarter.

Trimble Inc. (NASDAQ:TRMB) on Wednesday reported upbeat fiscal first-quarter 2026 results.

The company reported quarterly revenue of $939.9 million, up 12% from a year earlier and ahead of analyst estimates of $905.58 million. Organic revenue also increased 12% year over year. Trimble posted adjusted earnings of 79 cents per share, beating analyst estimates of 72 cents per share.

For fiscal 2026, Trimble forecast revenue of $3.835 billion to $3.915 billion, up from its prior outlook of $3.810 billion to $3.910 billion. Analysts expect revenue of $3.866 billion. The company expects adjusted earnings of $3.47 to $3.64 per share for the year, compared with its prior forecast of $3.42 to $3.62 per share and analyst estimates of $3.52 per share.

“We began the year with strong momentum, delivering record annualized recurring revenue of $2.435 billion in the first quarter, and surpassing expectations on both top and bottom lines,” said Rob Painter, president and CEO of Trimble. “Our Connect & Scale strategy connects people, data, workflow and ecosystems. In an AI-forward world, Trimble is the intelligence and execution layer that reconciles the digital model with physical reality.”

Trimble shares fell 0.7% to trade at $62.97 on Thursday.

These analysts made changes to their price targets on Trimble following earnings announcement.

Oppenheimer analyst Kristen Owen maintained the stock with an Outperform rating and lowered the price target from $86 to $80. Wells Fargo analyst Jerry Revich maintained Trimble with an Overweight rating and cut the price target from $79 to $70. Considering buying TRMB stock? Here’s what analysts think:

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On May 11, 2026, Trimble Inc TRMB shares fell 4.5% to a current price of $58.04. This decline comes amid a challenging market environment for the stock, which has experienced a year-to-date drop of 25.9%. Over the past year, TRMB has ranged between a 52-week high of $87.50 and a low of $59.85.

GF Value™ verdict: Current price of $58.04 is 9.9% below GF Value™ of $64.44, indicating it is undervalued.GF Score™: 91/100, suggesting a strong overall position based on various metrics.Most notable signal: Insiders sold $2.2 million in the last three months, indicating a lack of buying interest among them. Is TRMB Overvalued or Undervalued? According to the GF Value™, Trimble Inc TRMB is currently trading at $58.04, which is 9.9% below its estimated fair value of $64.44. This undervaluation suggests a potential opportunity for investors, as there is a margin of safety for those considering an entry point into TRMB shares. The GF Valuation label classifies the stock as "modestly undervalued," which aligns with the current price being below the intrinsic value determined through historical trading multiples, past business growth, and future performance estimates.

While the undervaluation presents an attractive opportunity, it is important to consider potential risks. The recent decline in share price, alongside insider selling, may reflect underlying concerns that could affect future performance. Therefore, investors should exercise caution and conduct thorough research before making any investment decisions.

How Does TRMB's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 30.6x 36.0x Forward P/E 16.3x N/A The current P/E ratio of 30.6x is noticeably below its 5-year median P/E of 36.0x, suggesting that the stock is trading at a discount compared to its historical valuations. Additionally, the forward P/E of 16.3x further indicates that TRMB may be undervalued relative to its own past performance. This P/E analysis aligns with the GF Value™ verdict, reinforcing the potential for TRMB to be undervalued at its current price.

What Does TRMB's GF Score™ Tell Us? Metric Rating GF Score™ 91 Financial Strength 7/10 Profitability 8/10 Growth 9/10 Valuation 9/10 Momentum 5/10 The GF Score™ of 91/100 highlights Trimble Inc's strong position across several key metrics. Particularly noteworthy is its Growth rank of 9/10, indicating robust potential for future earnings expansion. Additionally, the Valuation rank of 9/10 suggests that the stock is attractively priced compared to its fundamentals. However, the Momentum rank of 5/10 indicates a relative weakness in price trends, which could be a concern for those focusing on short-term performance.

What Are Insiders Doing with TRMB Stock? In the last three months, insiders at Trimble Inc have sold a total of $2.2 million worth of shares, with no insider buying reported during this period. This pattern of selling may suggest a lack of confidence among insiders regarding the stock's future performance, which can be a red flag for investors. While insider trading activity alone should not solely dictate investment decisions, it is a factor to consider in the overall evaluation of the company.

What This Means for Investors Based on the analysis of GF Value™, Trimble Inc TRMB is currently undervalued. This presents a potential opportunity for investors, although caution is advised due to recent insider selling and market volatility.

For the complete analysis, visit the Trimble Inc TRMB stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is TRMB's GF Score™?

TRMB's GF Score™ is 91/100, indicating a strong overall position based on financial strength, profitability, growth, valuation, and momentum.

Is TRMB overvalued or undervalued?

TRMB is currently undervalued, with a GF Value™ of $64.44 compared to its current price of $58.04, representing a 9.9% discount.

What is TRMB's P/E ratio?

TRMB's P/E ratio is 30.6x TTM, which is below its 5-year median P/E of 36.0x, indicating that it is trading at a discount compared to its historical valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

On May 13, 2026, Trimble Inc TRMB shares fell 7.1% today, bringing the current price to $56.51. This price is near the lower end of its 52-week range of $56.36 to $87.50, and the stock has experienced a significant decline of 27.9% year-to-date.

GF Value™ verdict: Current price of $56.51 vs. GF Value™ of $64.46, indicating a 12.3% upside.GF Score™: 88/100, signifying a strong overall performance.Most notable signal: Insiders sold $2.2M in the last 3 months, with no buying activity reported. Is TRMB Overvalued or Undervalued? The current price of Trimble Inc TRMB at $56.51 presents an interesting opportunity when compared to its GF Value™ estimate of $64.46, which suggests that the stock is currently undervalued by approximately 12.3%. This indicates a potential margin of safety for investors looking for value. The GF Valuation label of "Modestly Undervalued" supports the perspective that TRMB may be an attractive option for those seeking growth at a reasonable price. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

While the undervaluation presents an opportunity, it is also essential to consider the broader market context and the recent price decline of 27.9% year-to-date. The risk associated with such a downturn may warrant caution, as it could indicate underlying issues that need to be addressed. Nevertheless, the current valuation suggests that TRMB possesses the potential for recovery.

How Does TRMB's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 29.7x 36.0x Forward P/E 15.9x With a current P/E (TTM) of 29.7x, Trimble Inc is trading significantly below its 5-year median P/E of 36.0x, indicating that the stock may be undervalued compared to its historical valuation. The forward P/E of 15.9x further reinforces this perspective. This P/E analysis aligns with the GF Value™ verdict, suggesting that the stock is currently undervalued.

What Does TRMB's GF Score™ Tell Us? Metric Rating GF Score™ 88/100 Financial Strength 6/10 Profitability 8/10 Growth 8/10 Valuation 10/10 Momentum 5/10 Trimble Inc's GF Score™ of 88/100 indicates a strong overall performance, particularly in the areas of Valuation (10/10), Profitability (8/10), and Growth (8/10). However, the Financial Strength score of 6/10 and Momentum score of 5/10 suggest that there are areas for improvement, particularly in maintaining positive momentum in the current market environment. Overall, the strong GF Score™ reflects the potential for long-term returns, but investors should be mindful of the weaker aspects that could impact future performance.

What Are Insiders Doing with TRMB Stock? In the last three months, insiders have sold $2.2 million worth of Trimble Inc stock, with no buying activity reported. This trend may indicate a lack of confidence among insiders regarding the company's short-term prospects, which could be a signal for potential investors to consider the implications of insider sentiment. If there had been insider buying, it might have suggested a stronger belief in the company's future performance.

What This Means for Investors Based on the GF Value™ assessment, Trimble Inc TRMB is currently undervalued, presenting a potential opportunity for those looking for growth at a reasonable price. However, investors should remain cautious due to the recent stock performance and insider selling activity.

For the complete analysis, visit the Trimble Inc TRMB stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is TRMB's GF Score™?

TRMB's GF Score™ is 88/100, indicating a strong overall performance and potential for long-term returns based on key financial metrics.

Is TRMB overvalued or undervalued?

TRMB is currently undervalued, with a GF Value™ of $64.46 compared to its current price of $56.51, suggesting a 12.3% upside.

What is TRMB's P/E ratio?

TRMB's P/E (TTM) ratio is 29.7x, which is significantly below its 5-year median of 36.0x, reinforcing the view that the stock is currently undervalued.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Trimble Inc. (TRMB) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript

On June 01, 2026, Trimble Inc TRMB shares rose 3.1% to $58.15. This movement comes in the context of a 52-week trading range between $52.80 and $87.50, indicating some volatility in the stock price over the past year.

GF Value™ verdict: Current price of $58.15 is 10.2% below the GF Value™ estimate of $64.77.GF Score™ of 87/100 indicates a strong overall performance in key financial metrics.Notable signal: Insiders sold $2.2 million in stock over the last three months, with no buying activity reported. Is TRMB Overvalued or Undervalued? Trimble Inc is currently trading at $58.15, which is 10.2% below its GF Value™ estimate of $64.77. This undervaluation suggests a potential opportunity for investors, as the stock appears to offer a margin of safety. The GF Valuation label indicates that TRMB is modestly undervalued, which means that it may present a favorable risk-reward scenario for those considering entering a position. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

While the stock is undervalued according to GF Value™, it is important to consider potential risks, such as market volatility and the recent insider selling activity, which may indicate a lack of confidence from those closest to the company. Investors should be cautious and conduct further analysis before making any investment decisions.

How Does TRMB's Valuation Compare to Its History? MetricCurrentHistorical P/E (TTM)30.6x35.5x (5-Year Median) Forward P/E16.2xN/A Currently, Trimble Inc's P/E (TTM) of 30.6x is below its 5-year median of 35.5x, indicating that the stock is trading at a lower valuation compared to its historical levels. The forward P/E of 16.2x further suggests that the market expects improved earnings in the near future. This P/E analysis aligns with the GF Value™ verdict, reinforcing the notion that TRMB is undervalued relative to its historical performance.

What Does TRMB's GF Score™ Tell Us? MetricRating GF Score™87/100 Financial Strength6/10 Profitability8/10 Growth8/10 Valuation10/10 Momentum5/10 The GF Score™ of 87/100 indicates a strong overall performance in key financial metrics, particularly in the Valuation category where it ranks a perfect 10/10. The Profitability and Growth ranks of 8/10 also reflect a healthy financial position and potential for future expansion. However, the Financial Strength rating of 6/10 and a Momentum rank of 5/10 suggest areas for improvement and may require further scrutiny from potential investors.

What Are Insiders Doing with TRMB Stock? Recent insider activity at Trimble Inc has shown that insiders sold $2.2 million worth of shares over the last three months, with no recorded buying activity. This pattern may raise some concerns as it could indicate a lack of confidence among insiders regarding the company's near-term prospects. While insider selling does not always correlate with negative performance, it is an important signal for investors to consider when evaluating the stock.

What This Means for Investors Based on the GF Value™ analysis, Trimble Inc TRMB is currently undervalued at $58.15, which is 10.2% below its estimated fair value of $64.77. While this presents an opportunity for potential gains, the recent insider selling and market volatility warrant caution. Thorough due diligence is essential before making any investment decisions.

For the complete analysis, visit the Trimble Inc TRMB stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is TRMB's GF Score™?

TRMB has a GF Score™ of 87/100, indicating a strong overall performance in key financial metrics, suggesting potential for higher long-term returns.

Is TRMB overvalued or undervalued?

TRMB is currently undervalued according to GF Value™, trading at 10.2% below its estimated fair value of $64.77, indicating a potential opportunity for investors.

What is TRMB's P/E ratio?

TRMB's current P/E (TTM) is 30.6x, which is below its 5-year median of 35.5x, suggesting that the stock is trading at a lower historical valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

A month has gone by since the last earnings report for Trimble Navigation (TRMB - Free Report) . Shares have lost about 9.9% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Trimble due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Trimble Inc. before we dive into how investors and analysts have reacted as of late.

TRMB Q1 Earnings Beat Estimates on Recurring Revenue StrengthTrimble reported first-quarter 2026 non-GAAP earnings of 79 cents per share, which beat the Zacks Consensus Estimate by 9.7% and jumped 29.5% year over year. Revenues of $940 million increased 11.8% year over year and topped the consensus mark by 4%.

The reported quarter reflected continued execution on the company’s connect & scale strategy, supported by a record annualized recurring revenue (ARR) base of $2.43 billion, up 13% on an organic basis.

TRMB’s Top Line Split Shows Software Weight RisingIn the first quarter, subscription and services contributed $628.7 million (67% of revenues), and product revenues added $311.2 million (33% of revenues). The mix underscores the company’s steady shift toward a more recurring profile. Subscription and services increased 10.5% year over year, while product revenues increased 14.6%.

Segment-wise, AECO (Architects, Engineers, Construction, Owners) delivered $391.1 million of revenue, Field Systems generated $409.2 million, and Transportation & Logistics contributed $139.6 million. The portfolio balance helped the company post growth even as management acknowledged a constrained freight market.

Trimble’s AECO Engine Builds on Global ExpansionTrimble’s AECO segment produced 14% organic revenue growth, supported by cross-sell and upsell and the global expansion of Trimble Construction One. Segment ARR reached a record $1.51 billion, also up 14% organically, as the company extended the reach of its construction platform into the Asia Pacific.

Profitability improved meaningfully in AECO. Operating income margin expanded 420 basis points (bps) year over year to 31.5%, reflecting recurring revenue growth and operating expense leverage. Management also highlighted continued progress in bringing ProjectSight to Europe, supporting a broader international go-to-market motion.

TRMB’s Field Systems Demand Stayed Solid in CivilTRMB’s Field Systems segment posted 12% organic growth in both revenues and ARR. Management cited strength in civil construction, with infrastructure and data center end markets supporting demand, while the segment continued absorbing headwinds from model conversions to recurring revenues.

The company pointed to civil construction and geospatial demand tied to road construction, solar, manufacturing, and data center projects. ARR growth was driven by subscription offerings, including WorksPlus machine control, Positioning Services, and Trimble Business Center, along with extended warranties.

Trimble’s Transportation Unit Leans Into AI-Led WorkflowTrimble’s Transportation & Logistics segment delivered 7% organic revenue growth and 9% organic ARR growth on an as-adjusted basis. Operating income margin increased 300 bps year over year to 24.2%, as the team worked through stranded costs after the Mobility divestiture.

Management emphasized accelerating AI initiatives across the portfolio. The company noted it is monetizing AI through a mix of license-based and consumption-based models, including autonomous procurement and autonomous quotation in transportation. Trimble also discussed the SketchUp integration with Anthropic’s Claude, positioned as a path to expand the addressable market by converting new users into downstream SketchUp subscriptions.

TRMB’s Q1 Margins Expanded Y/YNon-GAAP profitability improved in the quarter, with gross margin at 71%, an expansion of 110 basis points (bps) year over year.

Adjusted EBITDA was $257.7 million, translating to a 27.4% margin, up 150 bps year over year.

Non-GAAP operating income margin was 25.9% versus 23.6% reported in the year-ago quarter.

Trimble’s Balance Sheet Remains StrongTRMB ended the quarter with $234.1 million in cash and equivalents and total debt of $1.413 billion.

Cash generation remained strong. Free cash flow was $268.6 million compared with $149.0 million in the year-ago period, supported by operating cash flow of $274.7 million and capital expenditures of $6.1 million.

During the quarter, the company repurchased about 4.7 million shares for $316.9 million, with $608 million remaining under its current authorization.

Trimble Raises 2026 Guidance After Strong StartTrimble raised its 2026 outlook. The company expects revenues of $3.835-$3.915 billion and non-GAAP earnings of $3.47-$3.64 per share. Organic ARR growth is projected at 12%-14%.

The company’s updated 2026 view also indicates a non-GAAP operating margin of 27.9%-28.5% and an adjusted EBITDA margin of 29.4%-30.0%.

For the second quarter of 2026, Trimble expects revenue of $938-$963 million and non-GAAP earnings of 78-82 cents per share.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a downward trend in estimates revision.

VGM ScoresAt this time, Trimble has a average Growth Score of C, a score with the same score on the momentum front. Charting a somewhat similar path, the stock has a score of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions looks promising. Interestingly, Trimble has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerTrimble is part of the Zacks Manufacturing - General Industrial industry. Over the past month, Generac Holdings (GNRC - Free Report) , a stock from the same industry, has gained 4.3%. The company reported its results for the quarter ended March 2026 more than a month ago.

Generac Holdings reported revenues of $1.06 billion in the last reported quarter, representing a year-over-year change of +12.4%. EPS of $1.80 for the same period compares with $1.26 a year ago.

Generac Holdings is expected to post earnings of $1.96 per share for the current quarter, representing a year-over-year change of +18.8%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.

Generac Holdings has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.