Seeking Alpha
08 Jul 2026, 01:24 UTC · 16w ago
Trimble: The Market Still Sees The Old Business
Impact · against what's priced in
Trimble's stock appears undervalued as the market continues to price it as a legacy hardware business despite evidence of a successful software transition. The combination of 13% ARR growth and 71% gross margins suggests a fundamental shift in the business model that is not yet reflected in its low-teens earnings multiple.
- TRMB+0.60
No priced-in read yet
- In context
Organic revenue growth of 12% and ARR growth of 13% validate a transition to a recurring-revenue model that the market is currently ignoring by maintaining a discounted low-teens multiple relative to peers like PTC.
Read from the article alone
