TRIMBLE INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TRIMBLE INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,362	2,654	3,132	3,271	3,152	3,659	3,676	3,799	3,683	3,587
Cost of revenue	1,124	1,262	1,427	1,483	1,393	1,624	1,571	1,466	1,287	1,109
Gross profit	1,235	1,378	1,681	1,781	1,755	2,035	2,106	2,333	2,396	2,478
Research and development	350	370	446	470	476	537	542	664	662	631
Selling and marketing	375	400	480	504	467	507	554	583	604	646
General and administrative	256	302	350	331	301	369	422	488	548	483
Operating expenses	1,054	1,142	1,360	1,405	1,335	1,474	1,595	1,884	1,936	1,886
Operating income	180	236	321	376	420	561	511	449	461	592
Interest expense								161	90.7	74.4
Other non-operating income	-4.3	12.5	-42.7	-31.1	-24.8	13.6	58.2	-91.8	1,545	-82.6
Pre-tax income	176	248	278	345	395	575	569	357	2,006	509
Income tax	43.9	130	-5.3	-170	4.4	81.8	119	45.7	502	85.4
Net income to minority interests	-0.2	0.1	0.5	0.2	0.7	0.1	0	0
Net income	132	118	283	514	390	493	450	311	1,504	424
EBITDA	217	270	356	415	460	602	683	699	693	792
EPS, basic	0.53	0.47	1.13	2.05	1.56	1.96	1.81	1.26	6.13	1.77
EPS, diluted	0.52	0.46	1.12	2.03	1.55	1.94	1.80	1.25	6.09	1.76
Shares, basic (weighted)	251	252	250	251	251	251	249	248	246	239
Shares, diluted (weighted)	254	257	253	253	252	254	250	249	247	242

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	216	359	173	189	238	326	271	230	739	253
Short-term investments	111	179	0
Receivables	366	428	513	608	621	625	643	707	726	856
Inventory	213	265	298	312	302	363	403	236	194	186
Other current assets	42.5	39.2	106	102	122	137	128	148	196	234
Total current assets	979	1,312	1,089	1,212	1,281	1,451	1,518	1,831	2,270	1,632
Property, plant and equipment	144	174	213	241	252	233	219	203	188	183
Lease right-of-use assets				140	129	141	121	124	124	146
Goodwill	2,078	2,287	3,540	3,681	3,877	3,982	4,138	5,351	4,988	5,240
Intangible assets	333	365	744	679	580	507	498	1,244	998	924
Other non-current assets	140	144	178	212	248	285	336	248	388	463
Total assets	3,674	4,316	5,776	6,641	6,877	7,100	7,269	9,539	9,488	9,312
Accounts payable	110	146	148	159	143	207	176	165	162	168
Accrued liabilities	97.5	144	169	124	167	231	159	181	227	212
Deferred revenue	247	238	348	490	561	549	639	663	800	894
Short-term debt	130	128	256	219	256	0	300	530	0	0
Total current liabilities	688	773	1,055	1,190	1,311	1,189	1,462	1,829	1,788	1,503
Long-term debt	490	786	1,712	1,624	1,291	1,293	1,220	2,536	1,391	1,392
Lease liabilities				114	109	121	105	122	123	141
Other non-current liabilities	114	162	150	153	151	151	175	166	269	285
Total liabilities	1,368	1,902	3,102	3,520	3,278	3,155	3,219	5,039	3,743	3,476
Total debt	620	914	1,969	1,624	1,291	1,293	1,220	3,067	1,391	1,392
Paid-in capital	1,348	1,461	1,592	1,693	1,802	1,936	2,055	2,215	2,369	2,438
Retained earnings	1,177	1,085	1,268	1,603	1,893	2,171	2,230	2,437	3,758	3,388
Other comprehensive income	-220	-131	-186	-177	-98.5	-162	-235	-152	-382	10.5
Shareholders' equity	2,306	2,415	2,674	3,119	3,599	3,945	4,050	4,500	5,745	5,836
Minority interests	-0.1	0	0.4	1.4	1.7	0
Total equity	2,355	2,415	2,675	3,120	3,599	3,945	4,050	4,500	5,745	5,836
Total liabilities and equity	3,674	4,316	5,776	6,641	6,877	7,100	7,269	9,539	9,488	9,312
Shares outstanding	251	249	251	250	251	251	247	247	246	236

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	132	119	283	515	391	493	450	311	1,504	424
Depreciation and amortization	37	34.6	35.6	39.4	39.7	41.3	172	251	232	200
Stock-based compensation	52.6	64.8	76.9	75	83	123	120	145	159	147
Deferred income tax	0.4	1.4	-47.6	-220	-52.9	-26.9	-40	-105	27	2.3
Change in receivables	3.8	-42.7	-51	-96	-14	-9	-55.4	-36.4	-135	-120
Change in inventory	26.2	-37.3	-45	-21.3	-5	-72.9	-114	67.6	11	4.9
Change in payables	10.8	25.7	-2	14.5	-15.7	60.3	-24.8	-12.4	5.7	-5.4
Cash from operations	431	430	487	585	672	751	391	597	531	386
Capital expenditures	-26	-43.7	-67.6	-69	-56.8	-46.1	-43.2	-42	-33.6	-25.3
Acquisitions	-23.7	-280	-1,764	-221	-202	-236	-374	-2,089	-22	-4.4
Purchases of investments	-113	-288	-24	0	0
Sales and maturities of investments	2.4	122	6.2	0	0
Cash from investing	-147	-371	-1,650	-275	-232	-204	-226	-2,068	1,861	-37
Debt issued	355	786	2,976	1,195	1,174	199	815
Debt repaid	-465	-495	-1,925	-1,323	-1,486	-450	-590	-2,293	-2,199	-577
Stock issued	67.5	73.8	40.2	29.1	10	-15.1	-13.6	6.7	-6.5	0.6
Share buybacks	-120	-285	-93	-180	-81.6	-180	-395	-100	-175	-863
Cash from financing	-177	66.5	989	-293	-400	-448	-199	1,432	-1,864	-868
Exchange rate effect	-6.8	17.4	-12.5	-0.4	8.6	-11.3	-20.6	7.4	-19.4	24.8
Net change in cash	100	142	-186	16.7	48.5	88	-54.7	-32.1	509	-494
Free cash flow	405	386	419	516	615	704	348	555	498	361
Interest paid	27.3	28.4	69.3	79.2	71.8	61.8	73.1	134	140	81.5
Income taxes paid	57.4	46.6	62.3	63.1	59	98.3	197	168	228	428

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 3, 2026; growth uses fiscal years. Valuation uses the share price of $57.85 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	69.8%	Gross profit / revenue.
Operating margin	17.0%	Operating income / revenue.
EBITDA margin	22.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-0.1%	Pre-tax income / revenue.
Net margin	-2.8%	Net income / revenue.
FCF margin	20.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	21.1%	Cash from operations / revenue.
Return on equity (ROE)	-2.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.2%	Net income / average total assets.
Return on invested capital (ROIC)	8.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	17.3%	Research and development expense / revenue.
Stock-based pay / revenue	4.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.7%	Capital expenditures / revenue.
D&A / revenue	5.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-2.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	5.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	7.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	28.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	5.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	7.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	14.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	5.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	11.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-71.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-1.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	1.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-71.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-0.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	2.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-27.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-0.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-10.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-27.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	1.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-10.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	1.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	12.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	10.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-1.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	6.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.95x	Current assets / current liabilities.
Quick ratio	0.58x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.15x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.28x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	16.9%	Total debt / total assets.
Liabilities / assets	40.2%	Total liabilities / total assets.
Net debt	$1.23B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.45x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	8.05x	Operating income / interest expense.
Working capital	-$65.3M	Current assets - current liabilities.
Goodwill and intangibles / assets	66.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$566.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.44x	Revenue / average total assets.
Fixed asset turnover	20.6x	Revenue / average property, plant and equipment.
Inventory turnover	6.17x	Cost of revenue / average inventory.
Days inventory	59 days	365 x average inventory / cost of revenue.
Receivables turnover	6.32x	Revenue / average receivables.
Days sales outstanding	58 days	365 x average receivables / revenue.
Days payables	62 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	55 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	3.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.45	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$16.24	Revenue / diluted weighted shares.
FCF per share	$3.32	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.43	Cash from operations / diluted weighted shares.
Book value per share	$21.92	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$2.43	Tangible book value / shares outstanding.
Cash per share	$0.92	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	66.6%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$13.49B	Share price x shares outstanding.
Enterprise value	$14.72B	Market cap + total debt - cash - short-term investments.
P/S	3.57x	Market cap / revenue.
P/B	2.64x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	17.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	16.9x	Market cap / cash from operations, when positive.
EV/Sales	3.89x	Enterprise value / revenue.
EV/EBIT	22.9x	Enterprise value / operating income, when both are positive.
EV/EBITDA	17.4x	Enterprise value / EBITDA, when both are positive.
EV/FCF	19.0x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.7%	Free cash flow / market cap.
Earnings yield	-0.8%	Net income / market cap (the inverse of P/E).
Shareholder yield	3.8%	(Dividends paid + share buybacks) / market cap.

What was TRIMBLE INC.'s revenue in fiscal 2025?

TRIMBLE INC. reported revenue of $3.59B for fiscal 2025, 2.6% lower than the year before.

Was TRIMBLE INC. profitable in fiscal 2025?

Yes. Net income was $424.0M, a net margin of 11.8%.

How much free cash flow did TRIMBLE INC. generate in fiscal 2025?

Cash from operations of $386.2M minus capital expenditures of $25.3M left free cash flow of $360.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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