Strong fundamentals: 69.1% gross margin, 16.5% op margin, ARR +6% organic, AECO +10%. Target $87 vs current $66 = +31.7% upside. Platform transition to recurring model solid. Missing: catalyst for multiple re-rating near-term.
Fair Value Distribution — percentile bands
0.0% of simulations place fair value above current price
WHAT IS PRICED IN
Revenue-Based Reverse DCF
23.7%/yr
±5.2% · revenue growth to justify current price
FCF-Based Reverse DCF
42.9%/yr
±3.6% · FCF growth to justify current price
THE GAP
Market pricing margin compression or rising capex
KEY VALUE DRIVERS
Spearman correlation — what moves this valuation most
Eagle will generate this view by the next trading session (~7h).
Eagle will generate this view by the next trading session (~7h).
TRMB FY2025: Gross margin 69.1% (+400bps), operating margin 16.5% (+400bps) despite -3% total revenue. Subscription/services growth +2%, ARR +6% organic. AECO segment +10%, strong momentum. Divestitur...