Trimble
TRMB · NasdaqMeasuring & Controlling Devices, NEC · Fiscal year ends Jan 2
Trimble reported revenue of $3.6B in the fiscal year ended Jan 2026, down 2.6% from the year before. Operating income was $592M, an operating margin of 16.5%, and net income was $424M. Operating cash flow of $386M less capital expenditure of $25M left free cash flow of $361M. Net debt was $1.1B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | $3.7B | $3.7B | $3.8B | $3.7B | $3.6B |
| Cost of revenue | $1.6B | $1.6B | $1.5B | $1.3B | $1.1B |
| Gross profit | $2B | $2.1B | $2.3B | $2.4B | $2.5B |
| Research & development | $537M | $542M | $664M | $662M | $631M |
| Operating income | $561M | $511M | $449M | $461M | $592M |
| Net interest incomeBanks | −$65M | −$71M | −$161M | – | – |
| Interest expense | – | – | $161M | $91M | $74M |
| Pre-tax income | $575M | $569M | $357M | $2B | $509M |
| Income tax | $82M | $119M | $46M | $502M | $85M |
| Net income | $493M | $450M | $311M | $1.5B | $424M |
| Diluted EPS | 1.94 | 1.80 | 1.25 | 6.09 | 1.76 |
| Diluted shares | 254M | 250M | 249M | 247M | 242M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $326M | $271M | $230M | $739M | $253M |
| Receivables | $625M | $643M | $707M | $726M | $856M |
| Inventory | $363M | $403M | $236M | $194M | $186M |
| Current assets | $1.5B | $1.5B | $1.8B | $2.3B | $1.6B |
| Net PP&E | $233M | $219M | $203M | $188M | $183M |
| Goodwill | $4B | $4.1B | $5.4B | $5B | $5.2B |
| Total assets | $7.1B | $7.3B | $9.5B | $9.5B | $9.3B |
| Payables | $207M | $176M | $165M | $162M | $168M |
| Deferred revenue | $549M | $639M | $663M | $800M | $894M |
| Current liabilities | $1.2B | $1.5B | $1.8B | $1.8B | $1.5B |
| Short-term debt | $0 | $300M | $530M | $0 | $0 |
| Long-term debt | $1.3B | $1.2B | $2.5B | $1.4B | $1.4B |
| Total liabilities | $3.2B | $3.2B | $5B | $3.7B | $3.5B |
| Shareholders' equity | $3.9B | $4.1B | $4.5B | $5.7B | $5.8B |
| Backlog (remaining obligations) | $1.8B | $1.6B | $1.8B | $1.7B | $2B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $751M | $391M | $597M | $531M | $386M |
| Capital expenditure | $46M | $43M | $42M | $34M | $25M |
| Free cash flow | $704M | $348M | $555M | $498M | $361M |
| Depreciation & amortisation | $41M | $172M | $251M | $232M | $200M |
| Stock-based compensation | $123M | $120M | $145M | $159M | $147M |
| Acquisitions | $236M | $374M | $2.1B | $22M | $4M |
| Share buybacks | $180M | $395M | $100M | $175M | $863M |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 0.5% | 3.3% | −3.0% | −2.6% |
| Operating income growth (YoY) | – | −8.9% | −12.2% | 2.7% | 28.5% |
| EPS growth (YoY) | – | −7.2% | −30.6% | 387.2% | −71.1% |
| Gross margin | 55.6% | 57.3% | 61.4% | 65.1% | 69.1% |
| Operating margin | 15.3% | 13.9% | 11.8% | 12.5% | 16.5% |
| Net margin | 13.5% | 12.2% | 8.2% | 40.8% | 11.8% |
| Return on equityBlank when equity is negative | 12.5% | 11.1% | 6.9% | 26.2% | 7.3% |
| ROCEEBIT ÷ (assets − current liabilities) | 9.5% | 8.8% | 5.8% | 6.0% | 7.6% |
| Free cash flow margin | 19.3% | 9.5% | 14.6% | 13.5% | 10.1% |
| Cash conversion (CFO ÷ net income) | 1.52x | 0.87x | 1.92x | 0.35x | 0.91x |
| Receivable days | 62 | 64 | 68 | 72 | 87 |
| Inventory days | 82 | 94 | 59 | 55 | 61 |
| Payable days | 47 | 41 | 41 | 46 | 55 |
| Interest cover | – | – | 2.79x | 5.08x | 7.96x |
| Debt ÷ equity | 0.33x | 0.38x | 0.68x | 0.24x | 0.24x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $968M | $1.2B | $2.8B | $652M | $1.1B |
| Current ratio | 1.22x | 1.04x | 1.00x | 1.27x | 1.09x |
Recent filings
More in Measuring & Controlling Devices, Nec
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.