Latest Ratios: P/E Ratio 30.7x · EV/EBITDA 17.6x · ROE 7.3%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $12.7B | $18.8B | $17.4B | $13.3B | $12.7B | $22.2B | $16.8B | $10.5B | $8.3B | $10.4B | $7.7B |
| Enterprise Value | $13.9B | $19.9B | $18.2B | $16.2B | $14.0B | $23.3B | $18.3B | $12.3B | $10.1B | $11.0B | $8.1B |
| P/E Ratio → | 30.70 | 44.76 | 11.59 | 42.56 | 28.09 | 44.94 | 43.08 | 20.54 | 29.38 | 86.47 | 57.98 |
| P/S Ratio | 3.55 | 5.24 | 4.74 | 3.49 | 3.44 | 6.06 | 5.35 | 3.23 | 2.68 | 3.93 | 3.24 |
| P/B Ratio | 2.21 | 3.22 | 3.04 | 2.94 | 3.12 | 5.62 | 4.68 | 3.38 | 3.12 | 4.41 | 3.32 |
| P/FCF | 95.56 | 141.02 | 35.04 | 23.87 | 36.35 | 31.48 | 27.38 | 20.43 | 19.90 | 28.33 | 20.10 |
| P/OCF | 32.96 | 48.64 | 32.83 | 22.19 | 32.34 | 29.54 | 25.07 | 18.02 | 17.13 | 25.33 | 18.80 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.55 | 4.95 | 4.27 | 3.81 | 6.36 | 5.80 | 3.77 | 3.26 | 4.14 | 3.41 |
| EV / EBITDA | 17.61 | 25.30 | 26.30 | 23.18 | 20.51 | 31.40 | 28.53 | 21.11 | 18.12 | 24.38 | 21.85 |
| EV / EBIT | 22.83 | 34.13 | 8.69 | 31.30 | 24.33 | 36.35 | 38.65 | 28.82 | 28.86 | 40.19 | 39.90 |
| EV / FCF | — | 149.57 | 36.60 | 29.20 | 40.24 | 33.02 | 29.69 | 23.86 | 24.18 | 29.84 | 21.16 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.3% | 68.3% | 65.1% | 61.4% | 57.3% | 55.6% | 55.8% | 54.6% | 54.1% | 52.5% | 52.4% |
| Operating Margin | 16.9% | 16.9% | 12.5% | 11.8% | 13.9% | 15.3% | 13.3% | 11.5% | 10.3% | 9.3% | 7.7% |
| Net Profit Margin | 11.8% | 11.8% | 40.8% | 8.2% | 12.2% | 13.5% | 12.4% | 15.8% | 9.1% | 4.6% | 5.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.3% | 7.3% | 29.4% | 7.3% | 11.2% | 13.1% | 11.6% | 17.7% | 11.2% | 5.2% | 5.9% |
| ROA | 4.5% | 4.5% | 15.8% | 3.7% | 6.3% | 7.1% | 5.8% | 8.3% | 5.6% | 3.0% | 3.6% |
| ROIC | 6.8% | 6.8% | 4.9% | 5.2% | 7.3% | 8.4% | 6.4% | 6.0% | 6.5% | 6.6% | 4.9% |
| ROCE | 7.8% | 7.8% | 6.0% | 6.6% | 8.7% | 9.8% | 7.6% | 7.4% | 7.8% | 7.6% | 6.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.24 | 0.24 | 0.26 | 0.71 | 0.40 | 0.36 | 0.46 | 0.63 | 0.74 | 0.39 | 0.27 |
| Debt / EBITDA | 1.77 | 1.77 | 2.19 | 4.56 | 2.38 | 1.91 | 2.59 | 3.36 | 3.52 | 2.03 | 1.68 |
| Net Debt / Equity | — | 0.20 | 0.13 | 0.66 | 0.33 | 0.28 | 0.39 | 0.57 | 0.67 | 0.23 | 0.18 |
| Net Debt / EBITDA | 1.45 | 1.45 | 1.12 | 4.23 | 1.98 | 1.47 | 2.22 | 3.03 | 3.21 | 1.23 | 1.09 |
| Debt / FCF | — | 8.55 | 1.56 | 5.33 | 3.89 | 1.55 | 2.31 | 3.43 | 4.29 | 1.51 | 1.06 |
| Interest Coverage | 7.85 | 7.85 | 23.12 | 3.22 | 8.10 | 9.79 | 6.09 | 5.18 | 4.80 | 10.94 | 7.80 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.09 | 1.09 | 1.27 | 1.00 | 1.04 | 1.22 | 0.98 | 1.02 | 1.03 | 1.63 | 1.42 |
| Quick Ratio | 0.96 | 0.96 | 1.16 | 0.87 | 0.76 | 0.91 | 0.75 | 0.76 | 0.75 | 1.29 | 1.10 |
| Cash Ratio | 0.17 | 0.17 | 0.41 | 0.13 | 0.19 | 0.27 | 0.18 | 0.16 | 0.16 | 0.66 | 0.48 |
| Asset Turnover | — | 0.39 | 0.39 | 0.40 | 0.51 | 0.52 | 0.46 | 0.49 | 0.54 | 0.62 | 0.64 |
| Inventory Turnover | 6.10 | 6.10 | 6.62 | 6.22 | 3.90 | 4.47 | 4.62 | 4.75 | 4.79 | 4.64 | 5.14 |
| Days Sales Outstanding | — | 87.10 | 71.92 | 67.89 | 63.87 | 62.32 | 71.95 | 68.01 | 64.09 | 64.70 | 60.29 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.3% | 2.2% | 8.6% | 2.3% | 3.6% | 2.2% | 2.3% | 4.9% | 3.4% | 1.2% | 1.7% |
| FCF Yield | 1.0% | 0.7% | 2.9% | 4.2% | 2.8% | 3.2% | 3.7% | 4.9% | 5.0% | 3.5% | 5.0% |
| Buyback Yield | 6.8% | 4.6% | 1.0% | 0.8% | 3.2% | 0.9% | 0.5% | 1.7% | 1.1% | 2.7% | 1.6% |
| Total Shareholder Yield | 6.8% | 4.6% | 1.0% | 0.8% | 3.2% | 0.9% | 0.5% | 1.7% | 1.1% | 2.7% | 1.6% |
| Shares Outstanding | — | $240M | $247M | $249M | $250M | $254M | $252M | $253M | $253M | $257M | $254M |
Cyclical construction spending sensitivity
According to current market data, Trimble trades at a forward P/E of 16.41, which appears to discount the firm's software-centric aspirations compared to pure-play peers like Autodesk, suggesting investors remain skeptical of the company's ability to fully transition away from its cyclical, hardware-heavy revenue profile.
The valuation gap between Trimble and high-multiple software peers implies that the market continues to apply a conglomerate discount due to the company's disparate business segments. Investors should monitor whether the ongoing shift toward recurring revenue can justify a re-rating toward higher software-sector multiples as the hardware-linked cyclicality diminishes.
Based on reported figures, Trimble's ROIC has remained suppressed, hovering between 1.1% and 2.3% over the last ten quarters, which indicates that the company's aggressive acquisition strategy has yet to generate returns that meaningfully exceed the cost of capital required to sustain its complex operational structure.
The persistent low ROIC suggests that the integration of large-scale acquisitions, such as Transporeon, creates significant drag on capital efficiency. Until the company can demonstrate a sustained improvement in returns, the current capital allocation strategy warrants further investigation regarding its long-term value creation potential.
As reported in financial statements, Trimble's cash conversion cycle has fluctuated significantly between 60 and 87 days over the past ten quarters, reflecting the inherent difficulty in managing inventory and receivables while transitioning from transactional hardware sales to a more predictable, subscription-based recurring revenue model.
The volatility in the cash conversion cycle suggests that the company's working capital management is still heavily influenced by the legacy hardware business. Investors should monitor whether the shift to software-as-a-service eventually stabilizes these metrics, as a more efficient cycle would be a key indicator of successful operational transformation.
According to recent SEC filings, Trimble has successfully reduced its debt-to-EBITDA ratio from a peak of 19.37 in 2023Q4 to 7.00 in 2026Q1, signaling a significant improvement in the company's ability to service its obligations following the completion of major strategic acquisitions and divestitures.
The rapid deleveraging trend suggests that management is prioritizing balance sheet health to mitigate risks associated with high interest rates. While the current interest coverage ratio of 7.53 provides a more comfortable buffer than in previous periods, the company remains sensitive to any further cyclical downturns in its core construction and agriculture segments.
As indicated by the company's financial statements, the P/E ratio is a frequently misapplied metric for Trimble because it fails to account for the significant non-cash amortization of intangible assets resulting from the firm's history of frequent acquisitions, which artificially depresses reported net income figures.
Analysts should instead focus on EV/EBITDA or free cash flow yields to better understand the underlying earning power of the business. Relying on P/E ratios obscures the true cash-generating capacity of the firm and may lead to an inaccurate assessment of its valuation relative to its operational peers.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying TRMB stock.
Trimble Inc.'s current P/E ratio is 30.7x. The historical average is 37.7x. This places it at the 33th percentile of its historical range.
Trimble Inc.'s current EV/EBITDA is 17.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.8x.
Trimble Inc.'s return on equity (ROE) is 7.3%. The historical average is 8.0%.
Based on historical data, Trimble Inc. is trading at a P/E of 30.7x. This is at the 33th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Trimble Inc. has 68.3% gross margin and 16.9% operating margin. Operating margin between 10-20% is typical for established companies.
Trimble Inc.'s Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.