CNH vs TRMB: How CNH Industrial and Trimble Compare (2026)
Last updated July 2026
Short answer
CNH (CNH Industrial) and TRMB (Trimble) share investment themes but are different businesses. The right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme.
CNH vs TRMB: the tie-breaker metrics
Same yardstick, side by side (as of July 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 | CNH | TRMB | What it tells you |
|---|---|---|---|
| Market cap | $13.43B | $13.60B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 14.79 | 14.30 | 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 | 33.84 | 30.55 | 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 | 1.21 | 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 | 42% of range | 26% 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 | 1.73 | 2.40 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Before you buy: how CNH 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. CNH 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 CNH 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 CNH Industrial (CNH) do?
CNH Industrial N.V. designs, builds, and finances agricultural and construction equipment through brands including Case IH, New Holland, STEYR, and CASE Construction, plus a captive financing arm (CNH Industrial Capital). Agriculture is roughly 82% of industrial net sales and construction the remaining ~18%, giving the company heavy exposure to global farm income, crop prices, and dealer inventories. It is the second-largest ag-machinery manufacturer in the world after Deere, with a large installed base and a growing push into precision-agriculture technology.
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.
CNH 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.
- CNH drivers: Ag-equipment cycle turning up; Precision agriculture and technology.
- 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: CNH sits in one of the more cyclical corners of industrials, and a prolonged ag downturn would keep volumes, pricing, and margins under pressure well past the expected 2027 recovery. 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.
CNH or TRMB: which should you pick?
CNH vs TRMB: the full fundamentals
CNH. CNH's headline valuation looks elevated on a forward P/E of roughly 25x because earnings are depressed at the bottom of the cycle, a common pattern for cyclical industrials where the multiple peaks on trough earnings. Full-year 2025 revenue fell about 9% and net income more than halved versus 2024, and 2026 guidance points to further softness before a hoped-for 2027 recovery. The stock trades around low-double-digit dollars per share with a small dividend near $0.10 annually.
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, MAY 2026): CNH shows revenue (fy2025) ~$18.1B, net income (fy2025) ~$505M, adjusted diluted eps (fy2025) ~$0.55, 2026 adjusted eps guidance ~$0.35 to $0.45; 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: CNH vs TRMB
CNH 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 CNH and TRMB exposure against your real portfolio. It is not an investment adviser.
Wondering how CNH 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 CNH Industrial with AI
Connect the broker you already use and ask Walnut's AI how CNH 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 CNH and TRMB?
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CNH Industrial N.V. 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 CNH 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, CNH or TRMB?
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On forward P/E (as of July 2026), CNH trades at 14.79x and TRMB at 14.30x, 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 CNH 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 CNH vs TRMB?
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CNH: CNH sits in one of the more cyclical corners of industrials, and a prolonged ag downturn would keep volumes, pricing, and margins under pressure well past the expected 2027 recovery. Q1 2026 showed how quickly profits can compress: net income fell to roughly $10 million from over $130 million a year earlier, hurt by low North American demand, tariffs that management estimates as a ~210 to 220 basis-point drag on ag margins, and elevated Brazil credit costs. The captive finance book carries credit and interest-rate risk, and a weaker-than-hoped recovery could pressure the dividend, which was already modest at about $0.10 per share. Currency swings, commodity-price weakness that cuts farmer buying power, and intense competition from a better-capitalized Deere all add to the uncertainty. 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 CNH or TRMB; figures are approximate and dated (as of July 2026). Verify current data before investing.