Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of Registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 94-2802192 (I.R.S. Employer Identification Number) 10368 Westmoor Drive, Westminster, CO 80021 (Address of principal executive offices) (Zip Code) For the fiscal year ended January 2, 2026 or ☐ TRA ...

Core Insights - The American robotics industry is experiencing significant growth, driven by commercial breakthroughs, venture capital investments, and regulatory advancements, positioning the U.S. as a leader in global automation [2][4]. Industry Overview - Global industrial robot installations reached a record market value of $16.7 billion, indicating robust demand and adoption across various sectors [3]. - The global robotics funding exceeded $10.3 billion in 2025, marking the highest level since 2021, with significant investments in medical and humanoid robotics [4]. - The global medical robots market is projected to grow from $18.32 billion in 2026 to $72.54 billion by 2035, reflecting a compound annual growth rate (CAGR) of 16.62% [4]. - The humanoid robotics market is expected to grow at a remarkable CAGR of 39.2%, highlighting the rapid evolution and potential of this segment [4]. Company Highlights - Intuitive Surgical's da Vinci 5 robot received FDA clearance for nine cardiac procedures, expanding its surgical capabilities and driving an 18% increase in da Vinci procedures in 2025 [12]. - Teradyne's robotics division is experiencing growth, with its Universal Robots showcasing a new palletizing solution at CES 2026 and launching ElevateX 2026 in Bengaluru to enhance its presence in Asian markets [13]. - Nvidia is establishing itself as a foundational platform for physical AI and robotics, unveiling a comprehensive robotics stack at CES 2026 and partnering with major manufacturers to drive reindustrialization [14]. - Trimble is enhancing its robotics franchise with precision positioning technologies, integrating its systems into autonomous robotics platforms and expanding its distribution for automated construction robotics [15]. Market Dynamics - The surgical robotics sector is becoming increasingly competitive, with Medtronic's Hugo system receiving FDA clearance and Johnson & Johnson submitting a request for its Ottava system [5]. - The elder care assistive robotics market is projected to grow from $3.38 billion in 2025 to $9.85 billion by 2034, driven by aging demographics and increasing demand for assistive technologies [6]. - Collaborative robotics are gaining traction, with nearly half of U.S. small and medium manufacturers now integrating collaborative robots (cobots), up from 27% two years ago [7]. - The U.S. Army's launch of an AI and machine learning officer specialty and the Pentagon's $13.4 billion budget for autonomous systems underscore the growth potential in defense and space robotics [8]. Investment Outlook - Despite trade tensions, there is a push for domestic manufacturing investments, and the convergence of private capital and policymakers is creating a favorable environment for robotics investments [9]. - The current landscape presents a timely entry point for investors, with physical AI becoming essential and humanoid robots being deployed in various environments [9].

Group 1 - Trimble Inc. is recognized as one of the 10 Best Consensus Buy-Rated Stocks to Invest in [1] - On February 10, 2026, Trimble reported fourth-quarter revenue of $969.8 million, exceeding the consensus estimate of $950.17 million [2] - The company achieved record annualized recurring revenue of $2.39 billion for 2025 and record fourth-quarter revenue of $970 million [2] Group 2 - Baird lowered its price target for Trimble to $90 from $95 while maintaining an Outperform rating, citing solid execution and firm initial guidance for 2026 [1][3] - JPMorgan also reduced its price target for Trimble to $88 from $98 but kept an Overweight rating [1] - Trimble's fiscal 2026 revenue is projected to be between $3.81 billion and $3.91 billion, compared to the consensus estimate of $3.84 billion [3] Group 3 - The company focuses on providing technology solutions for professionals in architecture, engineering, construction, and related industries [3] - Management emphasized record gross and operating margin levels, indicating strong operational performance [2] - Trimble is positioned to continue executing its Connect & Scale strategy in 2026 [2]

Industry Overview - The U.S. manufacturing sector is showing signs of a solid rebound after struggling for the past three years, with rising demand boosting manufacturing activity despite concerns over high prices and a shrinking labor market [1] - U.S. industrial production increased by 0.7% in January, surpassing analysts' expectations of a 0.4% rise, following a 0.2% gain in December, indicating a recovery in manufacturing activity [3][11] - The ISM Manufacturing Index reported a PMI reading of 52.6 in January, up from 47.9 in December, marking the strongest reading since 2022 and indicating sector growth for the first time in a year [5] Economic Indicators - The New Orders Index surged by 9.7 percentage points to 57.1% in January, reaching its highest level since February 2022, driven by increased demand for manufactured products [6] - Inflation has eased over the past two quarters, and the Federal Reserve cut interest rates by 75 basis points last year, which has helped reduce borrowing costs and price pressures, thereby driving demand [7] - The Federal Reserve is maintaining interest rates in the range of 3.5% to 3.75% and is open to further rate cuts depending on inflation trends, with expectations of inflation slowing to 2.4% by the end of 2026 [8] Stock Recommendations - Proto Labs, Inc. (PRLB) is a quick-turn manufacturer of custom parts with an expected earnings growth of 8.4% for the current year and a Zacks Rank of 1 [9] - RBC Bearings Incorporated (RBC) specializes in engineered bearings and precision components, with an expected earnings growth of 23.6% for the current year and a Zacks Rank of 1 [12] - Helios Technologies, Inc. (HLIO) develops hydraulic and electronic control solutions, with an expected earnings growth of 17.2% for the current year and a Zacks Rank of 2 [13] - Trimble Inc. (TRMB) provides technology solutions for various industries, with an expected earnings growth of 12.8% for the current year and a Zacks Rank of 2 [15]

Trimble Navigation (TRMB) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. ...

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or ...

Financial Performance - In the fiscal year 2025, the company achieved a total revenue of $3.5873 billion and a net profit of $424 million, resulting in a net profit margin of 11.82% [1] - For the fourth quarter, the net profit was $156.6 million with a net profit margin of 16.15%, showing significant growth compared to the same period in 2024 [1] - The annual gross margin was 66.10%, indicating strong product pricing power [1] Financial Condition - The net cash flow from operating activities for fiscal year 2025 was $386.2 million, and the free cash flow was $360.9 million, reflecting robust cash generation capabilities [2] - As of December 31, 2025, the company's debt-to-asset ratio was 37.33%, with a debt-to-equity ratio of 0.63 and a current ratio of 1.09, indicating a solid financial structure and good debt repayment ability [2] Company Metrics - The return on assets (ROA) for fiscal year 2025 was 4.51%, and the return on equity (ROE) was 7.32% [3] - The asset turnover ratio was 0.38 times, maintaining stable operational efficiency [3] - The basic earnings per share (EPS) for the year was $1.77, while the diluted EPS was $1.76 [3]

Core Insights - Trimble Inc. reported fourth-quarter results that exceeded expectations, particularly in its transportation and logistics segment, which is poised for accelerated revenue and margin expansion in 2026 [1] Financial Performance - Trimble posted fourth-quarter revenue of $969.8 million, a decrease of 1% year over year, but surpassing Wall Street's expectations of $950 million [2] - For the full year 2025, Trimble achieved revenue of $3.59 billion and recorded annualized recurring revenue of $2.39 billion, reflecting a 14% organic growth [2] Transportation and Logistics Segment - The transportation and logistics segment generated $136 million in revenue for the fourth quarter, representing a 4% organic growth, and $527 million for the full year 2025, which is a 5% organic growth year over year [3] - Annualized recurring revenue for the T&L segment reached $508 million, up 7% organically, indicating continued expansion in various solutions [4] - More than 90% of the segment's revenue is now recurring, highlighting the shift towards subscription-based platforms [7] Operational Highlights - Trimble's T&L unit maintained an operating income margin of 22.9% for both the fourth quarter and the full year, although margins faced pressure due to stranded costs from the divestiture of its mobility business [6] - The organic growth in 2025 was primarily driven by Maps, Transporeon, and forestry-related offerings, with significant customer additions among large shippers, carriers, and logistics service providers in North America and Europe [7]

分组1 - Trimble Navigation reported quarterly earnings of $1 per share, exceeding the Zacks Consensus Estimate of $0.96 per share, and showing an increase from $0.89 per share a year ago, resulting in an earnings surprise of +3.98% [1] - The company achieved revenues of $969.8 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 2.00%, although this represents a decline from year-ago revenues of $983.4 million [2] - Trimble has consistently surpassed consensus EPS estimates over the last four quarters, indicating strong performance in earnings [2] 分组2 - The stock has underperformed the market, losing about 14.6% since the beginning of the year, while the S&P 500 has gained 1.7% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $0.72 on revenues of $889.41 million, and for the current fiscal year, it is $3.44 on revenues of $3.82 billion [7] 分组3 - The Manufacturing - General Industrial industry, to which Trimble belongs, is currently ranked in the top 27% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - Trimble currently holds a Zacks Rank 2 (Buy), indicating expectations for the stock to outperform the market in the near future [6]

Financial Data and Key Metrics Changes - The company reported $970 million in revenue for Q4 2025, a 9% increase year-over-year, and $3.57 billion for the full year, up 10% [3][21] - Annual Recurring Revenue (ARR) grew 14% to $2.39 billion, with a notable 16% increase in the AECO segment and a 20% increase in Field Systems [3][21] - Earnings per share (EPS) for Q4 was $1, up 12%, and $3.13 for the year, up 10% [3][21] - Gross margins expanded to 74.6% in Q4 and 71.7% for the full year, with EBITDA margins at 33.5% and 29.3% respectively [22][23] Business Line Data and Key Metrics Changes - AECO segment delivered $454 million in revenue, up 15%, and ARR at $1.48 billion, up 16% [6][24] - Field Systems revenue was $379 million, up 4%, and ARR at $409 million, up 20% [11][24] - Transportation and logistics segment saw revenue growth of 4% and ARR growth of 7% [15][24] Market Data and Key Metrics Changes - The company noted a strong performance in the machine control guidance as a service and growth in the automotive market and geospatial [31] - The transportation market remains challenged, but the company expects continued growth in construction, particularly in data centers and infrastructure [42] Company Strategy and Development Direction - The company is focused on a "connect and scale" strategy, integrating hardware and software to enhance customer outcomes [4][27] - There is an emphasis on AI as a force multiplier to accelerate value delivery across the business [4][27] - The company plans to continue expanding its recurring revenue model, which now represents 65% of total revenue [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory towards achieving $3 billion in ARR and $4 billion in revenue by 2027 [22][27] - The macroeconomic environment is expected to remain consistent, with some challenges in the freight market and muted federal government business [41][42] - Management anticipates a deceleration in ARR growth to the low- to mid-teens in 2026 due to tough comparisons from previous growth [31] Other Important Information - The company repurchased approximately $148 million worth of shares in Q4, reflecting confidence in long-term value [19] - The company retains $925 million under its current share repurchase authorization [19] Q&A Session Summary Question: Field Systems ARR growth - Management noted strong performance in machine control guidance as a service and software conversions driving growth [31] Question: Adoption of Agentic AI in construction - Management believes Trimble platforms are well-positioned for Agentic workflows, leveraging existing customer relationships and data [33][35] Question: Guidance for 2026 - Management expects a consistent macro environment and plans to leave room for reinvestment in the business [41][42] Question: New customer acquisition in AECO - New customers are coming from geographic expansion and bundled offerings, with a strong focus on integrated solutions [44][45] Question: AI rollout focus areas - AI capabilities will be broadly applied across AECO and transportation logistics, enhancing customer outcomes [74] Question: Technology infrastructure readiness for AI - The company has been investing in technology infrastructure and is prepared for AI feature rollouts [78]