BSY vs TRMB: Which Is the Better Buy in 2026?
Last updated August 2026
Short answer
BSY and TRMB are similarly sized, but TRMB trades noticeably cheaper on forward earnings (13.87x vs 22.48x): the market is paying up for BSY's profile and pricing TRMB more conservatively, or for faster growth. Which you prefer comes down to the drivers you believe, and whether adding either over-concentrates what you already own.
BSY vs TRMB: the tie-breaker metrics
Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | BSY | TRMB | What it tells you |
|---|---|---|---|
| Market cap | $10.67B | $13.19B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 22.48 | 13.87 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Trailing P/E | 39.23 | 29.62 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Beta | 0.98 | 1.38 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 25% of range | 22% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 9.11 | 2.33 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: TRMB is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how BSY and TRMB affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. BSY and TRMB share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined BSY and TRMB exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Bentley Systems (BSY) do?
Bentley Systems builds the design and asset-management software that civil engineers actually use. Its modeling applications include MicroStation, OpenRoads, OpenBuildings and OpenPlant; its analysis and simulation tools include STAAD, AutoPIPE and Power Line Systems; and its project and asset platforms include ProjectWise, AssetWise and the iTwin digital-twin stack. Add-ons from acquisitions widened that footprint, notably Seequent in geoscience and subsurface modeling and Cesium in open 3D geospatial rendering. Customers are engineering firms, contractors, utilities, mining companies and public agencies, and the software tends to be embedded in workflows that run for years, which is why the company reports a single operating segment and treats recurring revenue as its headline metric.
What does Trimble (TRMB) do?
Trimble is a technology company specializing in precise positioning, measurement, and workflow software for industries that build and manage the physical world. It combines hardware (GPS and GNSS receivers, optical instruments, laser scanners, and sensors) with software and services to deliver high-accuracy positioning and data-driven workflows for construction, agriculture, geospatial, and transportation customers. In construction, Trimble offers tools and software that help design, lay out, and manage building and civil projects. In agriculture, it provides precision-farming guidance and automation that help farmers plant, spray, and harvest more efficiently. In transportation and logistics, it offers fleet and freight software. Trimble has shifted its mix toward higher-margin, recurring software and subscription revenue, moving away from being purely a hardware vendor. The company makes money selling hardware, software licenses, and subscriptions across these end markets. Headquartered in Westminster, Colorado, Trimble serves customers globally across construction, agriculture, geospatial, and transportation sectors.
BSY vs TRMB: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- BSY drivers: Infrastructure spending that is legislated, not cyclical; Recurring revenue with high switching costs.
- TRMB drivers: Shift toward recurring software revenue; Precision technology across large markets.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The most visible risk is the derating already underway: shares fell roughly ~34% over the trailing year despite double-digit revenue growth, which suggests investors are marking down the durability or the terminal value of vertical engineering software rather than reacting to a missed quarter. For TRMB, trimble's hardware businesses are exposed to cyclical end markets: construction activity, farm incomes (which swing with crop prices), and freight cycles can all soften and reduce equipment demand.
BSY or TRMB: which should you pick?
BSY vs TRMB: the full fundamentals
BSY. Bentley converts revenue to cash unusually well for its size, with ~82% gross margin and free cash flow running above reported net income. Valuation is the moving part: a ~34% decline over the trailing year has taken the forward multiple to roughly ~24x while the underlying business kept compounding in the low teens. Whether that gap reflects a bargain or a correct reassessment of software durability is the question the price is asking.
TRMB. Trimble trades at a valuation that prices in its transition toward higher-margin, recurring software revenue. The qualitative profile is a precision-technology company evolving from hardware vendor into a software-and-services platform for construction, agriculture, and transportation. The premium leaves it sensitive to execution on recurring-revenue growth and to cycles in its end markets.
Headline figures (approximate, August 2026): BSY shows revenue (ttm) ~$1.60B, up ~12.8%, net income (ttm) ~$290M, EPS ~$0.91, annualized recurring revenue ~$1.54B as of June 30, 2026, ~12% constant-currency growth, market cap ~$11.0B; TRMB shows revenue (ttm) ~$3.5 billion, recurring revenue a growing share, the strategic focus, software and services mix rising versus hardware over time, operating margin ~20%+ on an adjusted basis.
The bottom line: BSY vs TRMB
BSY and TRMB are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined BSY and TRMB exposure against your real portfolio. It is not an investment adviser.
Wondering how BSY or TRMB fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Bentley Systems with AI
Connect the broker you already use and ask Walnut's AI how BSY fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between BSY and TRMB?
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Bentley Systems builds the design and asset-management software that civil engineers actually use. Trimble is a technology company specializing in precise positioning, measurement, and workflow software for industries that build and manage the physical world. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is BSY or TRMB the better stock?
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Neither is universally better; they suit different views and risk levels. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, BSY or TRMB?
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On forward P/E (as of August 2026), BSY trades at 22.48x and TRMB at 13.87x, so TRMB is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both BSY and TRMB?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of BSY vs TRMB?
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BSY: The most visible risk is the derating already underway: shares fell roughly ~34% over the trailing year despite double-digit revenue growth, which suggests investors are marking down the durability or the terminal value of vertical engineering software rather than reacting to a missed quarter. Growth is steady but not accelerating, and at ~39x trailing earnings the stock still requires that steadiness to persist. Leverage is a secondary concern, with ~$1.27B of total debt against ~$147M of cash and a current ratio near ~0.59, so a sharp downturn in infrastructure budgets would be felt. Governance is concentrated: the listed Class B shares sit alongside a Class A class and insider ownership of roughly ~47%, meaning outside holders have limited influence over strategy or any future transaction. On legal matters, Bentley's Form 10-Q for the quarter ended June 30, 2026 states that the company does not believe it has any material litigation pending against it, and Schneider Electric's exploratory acquisition talks were mutually terminated in 2024 without a transaction, so no deal is outstanding today. TRMB: Trimble's hardware businesses are exposed to cyclical end markets: construction activity, farm incomes (which swing with crop prices), and freight cycles can all soften and reduce equipment demand. The transition from hardware to software is ongoing and complex, with execution and integration risk, including from acquisitions and divestitures as the company reshapes its portfolio. Competition is significant across each segment, from precision-ag rivals to construction-software and geospatial competitors. Agriculture revenue can be volatile with commodity prices and farmer sentiment. Currency exposure from global sales adds variability. The stock trades at a valuation that reflects the software-transition optimism, so any stumble in recurring-revenue growth or margin progression could pressure the multiple. Macro slowdowns in construction or freight would weigh on results.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell BSY or TRMB; figures are approximate and dated (as of August 2026). Verify current data before investing.