AI Takeaway
Trimble (TRMB) delivered FY2025 with improved gross and operating margins despite a 2.6% revenue decline to $3.59B, while net income fell sharply 71.8% to $424M largely due to the absence of prior-year gains, and the company aggressively returned $863M to shareholders via buybacks.
Revenue
$3.59B
-2.61% YoY
EPS (Basic)
$1.77
-71.13% YoY
Gross Margin
69.1%
++4.02% YoY
Operating Income
$592M
++28.50% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-K filing
Total revenue fell 2.6% year-over-year to $3.59B in FY2025 from $3.68B in the prior year, suggesting ongoing portfolio reshaping as Trimble continues to shift toward higher-margin software and recurring revenue streams.
Source: Source: 10-K Income Statement
Gross margin improved approximately 400 basis points to 69.1% from 65.1%, and operating margin expanded to 16.5% from 12.5%, reflecting the benefit of a lower-cost revenue mix and reduced cost of revenue which fell 13.8% to $1.11B.
Source: Source: 10-K Income Statement / Key Ratios
Net income dropped 71.8% to $424M from $1.50B, with EPS (diluted) falling to $1.76 from $6.09; the prior year likely included significant one-time gains (e.g., divestitures), making the year-over-year comparison misleading on an underlying basis.
Source: Source: 10-K Income Statement
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Upgrade to unlockCash and equivalents fell 65.7% to $253.4M as Trimble deployed $863.4M in share repurchases. With a current ratio of only 1.09 and current liabilities of $1.50B, the company's near-term liquidity buffer has narrowed considerably. Any unexpected cash needs could pressure the balance sheet.
Source: Source: 10-K Balance Sheet / Cash Flow Statement
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Upgrade to unlockReported EPS of $1.00 versus the $0.98 analyst consensus — a +1.9% beat for FY2025.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $3.59B | $3.68B | -2.61% |
Cost of Revenue | $1.11B | $1.29B | -13.80% |
Gross Profit | $2.48B | $2.4B | +3.41% |
Operating Income | $592M | $460.7M | +28.50% |
Net Income | $424M | $1.5B | -71.82% |
EPS (Basic) | $1.77 | $6.13 | -71.13% |
EPS (Diluted) | $1.76 | $6.09 | -71.10% |
R&D Expense | $630.7M | $662.3M | -4.77% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $9.31B | $9.49B | -1.86% |
Current Assets | $1.63B | $2.27B | -28.12% |
Total Liabilities | $3.48B | $3.74B | -7.14% |
Current Liabilities | $1.5B | $1.79B | -15.92% |
Stockholders' Equity | $5.84B | $5.75B | +1.58% |
Cash & Equivalents | $253.4M | $738.8M | -65.70% |
Long-Term Debt | $1.39B | $1.39B | +0.12% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $386.2M | $531.4M | -27.32% |
Investing Cash Flow | $-37M | $1.86B | -101.99% |
Financing Cash Flow | $-868.4M | $-1.86B | +53.42% |
Share Buybacks | $863.4M | $175M | +393.37% |
D&A | $199.9M | $232M | -13.84% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Gross Margin | 69.1% | 65.1% | +4.02% |
Operating Margin | 16.5% | 12.5% | +3.99% |
Net Margin | 11.8% | — | — |
ROE | 7.3% | — | — |
ROA | 4.6% | — | — |
Current Ratio | $1.085 | — | — |
Debt to Equity | $0.596 | — | — |
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Trimble's FY2025 results showed improving profitability metrics — gross margin expanded to 69.1% and operating income grew 28.5% to $592M — even as revenue dipped 2.6% to $3.59B. However, net income fell sharply to $424M from $1.50B due to the absence of large prior-year one-time gains, and the company returned $863M to shareholders through buybacks.
Trimble's net income fell 71.8% to $424M in FY2025, compared to $1.50B in the prior year. The decline is primarily attributable to large non-recurring gains in the prior year (likely from divestitures), rather than a deterioration in core business performance, as operating income actually improved 28.5%.
Trimble's revenue declined 2.6% year-over-year to $3.59B in FY2025 from $3.68B in the prior year. This reflects the company's ongoing portfolio optimization and transition toward higher-margin software and recurring revenue, which simultaneously improved gross margins to 69.1%.
Trimble's balance sheet is moderately healthy with $5.84B in stockholders' equity and a debt-to-equity ratio of 0.60, but liquidity has tightened with cash falling 65.7% to $253.4M and a current ratio of just 1.09. Operating cash flow of $386.2M will need to recover to sustain the aggressive $863M buyback pace seen in FY2025.
Yes, Trimble dramatically accelerated its share repurchase program in FY2025, buying back $863.4M in stock — a 393.4% increase from $175M in the prior year. This was funded in part by drawing down cash reserves, which fell from $738.8M to $253.4M over the year.