Trimble Is Still Priced Like Hardware - A Mid-Run Long for Re-Rate
Trimble ($53.74) has quietly shifted from a hardware-led company to a software-and-services business (roughly 72% software by revenue in some coverage). The market still trades it with the story of the old Trimble: cyclical hardware, lumpy bookings, and low growth. Fundamentals - $12.53B market cap, $480.5M trailing free cash flow, EV/EBITDA ~15.7,…