Trimble
TRMB on Nasdaq. Trimble sells software and hardware to construction, farming, and transportation companies. Market value $13.7bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
See cheaper Technology stocks on the list
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $5.64 of spare cash in the past 12 months. A savings account pays about $4.
You pay 23.3 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 7 cents a year. Above 10 is good.
Quality score: 77 of 100. Price score: 43 of 100. Our list needs 70 on quality and 60 on price.
$58.81 a share, 23% above its 1-year low
Over the past year the price has ranged from $47.92 to $84.42.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $773 million in the past 12 months, $361 million in the year to December 2025.
| Revenue | |||||
| Revenue | $3.7bn | $3.7bn | $3.8bn | $3.7bn | $3.6bn |
| Operating margin | |||||
| Operating margin | 15.3% | 13.9% | 11.8% | 12.5% | 16.5% |
| Debt to equity | |||||
| Debt to equity | 0.33 | 0.45 | 0.80 | 0.24 | 0.24 |
| Shares outstanding | |||||
| Shares outstanding | 0.25bn | 0.25bn | 0.25bn | 0.24bn | 0.23bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)5 of 9
- Profit backed by cash (accruals)Yes
- Debt0.24× equity
- Revenue growth, five yearsSlow, 2.6% a year
- Buying back its own sharesYes, 5% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $972 million last quarter, up 11% on a year ago.
- A loss of $472 million, after a profit of $89 million a year ago.
- It keeps 17 cents of each $1 of sales as operating profit, up from 14 cents a year earlier.
- Spare cash over the past 12 months: $773 million, up from $287 million.
- 3% fewer shares than a year ago. Each share owns a bit more of the company.
- Debt is $1.2 billion more than cash, about the same as a year ago.
- Sales grew on a year ago in 3 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $876m |
| December 2024 | $983m |
| March 2025 | $841m |
| June 2025 | $876m |
| September 2025 | $901m |
| December 2025 | $970m |
| March 2026 | $940m |
| June 2026 | $972m |
| Quarter to | Amount |
|---|---|
| September 2024 | $41m |
| December 2024 | $90m |
| March 2025 | $67m |
| June 2025 | $89m |
| September 2025 | $112m |
| December 2025 | $157m |
| March 2026 | $99m |
| June 2026 | -$472m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 4 November 2026
- Last annual report (10-K)
- 25 February 2026
- Next quarterly (estimated, 10-Q)
- 11 November 2026
Who owns it
4 long-term investors we follow own it, unchanged from 4 last quarter. 706 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Select Equity GroupGeorge Loening | $260m | 1.4% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $29m | <0.1% | Added |
| GMOJeremy Grantham | $11m | <0.1% | Added |
| Boston PartnersBoston Partners team | $2m | <0.1% | Cut |
Largest holders overall
- BlackRock$1.1bnAdded
- Vanguard Capital Management$780m
- Ameriprise Financial$649mAdded
- Vanguard Portfolio Management$620mCut
- State Street$596mAdded
- Morgan Stanley$477mCut
- Invesco$377mAdded
- Generation Investment Management LLP$368mCut
- Geode Capital Management$338mAdded
- Select Equity Group$260mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- Vanguard Capital ManagementPassive investor7.6%Since 31 March 2026
- Ameriprise Financial, Inc.Passive investor5.4%Since 30 June 2026
- Vanguard Portfolio ManagementPassive investor5.3%Since 31 March 2026
- STATE STREET CORPORATIONPassive investor5.0%Since 30 June 2026
- Morgan StanleyPassive investorSold down below 5%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Vanguard Capital Management Passive investor | 7.6% | 31 March 2026 | |
Ameriprise Financial, Inc. Passive investor | 5.4% | 30 June 2026 | |
Vanguard Portfolio Management Passive investor | 5.3% | 31 March 2026 | |
STATE STREET CORPORATION Passive investor | 5.0% | 30 June 2026 | |
Morgan Stanley Passive investor | Sold down below 5% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 6 sold $6m, $6m of it under preset trading plans.
- Gabriel KaighamDirectorSoldunder a preset trading plan
- Date
- 4 August 2026
- Shares
- 1,718
- Price
- $60.00
- Value
- $103,080
- SCHWARTZ MARK DAVIDSenior VP, AECOSoldunder a preset trading plan
- Date
- 16 April 2026
- Shares
- 16,725
- Price
- $67.01
- Value
- $1m
- PAINTER ROBERT GPresident & CEO, DirectorSoldunder a preset trading plan
- Date
- 14 April 2026
- Shares
- 7,500
- Price
- $66.94
- Value
- $502,050
- PAINTER ROBERT GPresident & CEO, DirectorSoldunder a preset trading plan
- Date
- 10 March 2026
- Shares
- 7,500
- Price
- $70.45
- Value
- $528,375
- Dalton James CalvinDirectorSoldunder a preset trading plan
- Date
- 27 February 2026
- Shares
- 733
- Price
- $67.02
- Value
- $49,126
- PAINTER ROBERT GPresident & CEO, DirectorSoldunder a preset trading plan
- Date
- 10 February 2026
- Shares
- 7,500
- Price
- $65.14
- Value
- $488,550
- PAINTER ROBERT GPresident & CEO, DirectorSoldunder a preset trading plan
- Date
- 13 January 2026
- Shares
- 7,500
- Price
- $80.88
- Value
- $606,600
- Sawarynski PhillipCFOSoldunder a preset trading plan
- Date
- 16 December 2025
- Shares
- 2,250
- Price
- $80.45
- Value
- $181,013
- PAINTER ROBERT GPresident & CEO, DirectorSoldunder a preset trading plan
- Date
- 9 December 2025
- Shares
- 7,500
- Price
- $81.39
- Value
- $610,425
- Dalton James CalvinDirectorSoldunder a preset trading plan
- Date
- 28 November 2025
- Shares
- 616
- Price
- $81.99
- Value
- $50,506
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 4 August 2026 | Gabriel Kaigham Director | Sold under a preset trading plan | 1,718 | $60.00 | $103,080 |
| 16 April 2026 | SCHWARTZ MARK DAVID Senior VP, AECO | Sold under a preset trading plan | 16,725 | $67.01 | $1m |
| 14 April 2026 | PAINTER ROBERT G President & CEO, Director | Sold under a preset trading plan | 7,500 | $66.94 | $502,050 |
| 10 March 2026 | PAINTER ROBERT G President & CEO, Director | Sold under a preset trading plan | 7,500 | $70.45 | $528,375 |
| 27 February 2026 | Dalton James Calvin Director | Sold under a preset trading plan | 733 | $67.02 | $49,126 |
| 10 February 2026 | PAINTER ROBERT G President & CEO, Director | Sold under a preset trading plan | 7,500 | $65.14 | $488,550 |
| 13 January 2026 | PAINTER ROBERT G President & CEO, Director | Sold under a preset trading plan | 7,500 | $80.88 | $606,600 |
| 16 December 2025 | Sawarynski Phillip CFO | Sold under a preset trading plan | 2,250 | $80.45 | $181,013 |
| 9 December 2025 | PAINTER ROBERT G President & CEO, Director | Sold under a preset trading plan | 7,500 | $81.39 | $610,425 |
| 28 November 2025 | Dalton James Calvin Director | Sold under a preset trading plan | 616 | $81.99 | $50,506 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.