TRMB

Trimble Navigation Limited

TMT, Industrial/Transportation


Presented:12/11/2014
Price:$27.25
Cap:$7.04B
Current Price:$61.72
Cap:$15.07B

Presented

Date12/11/2014
Price$27.25
Market Cap$7.04B
Ent Value$7.57B
P/E Ratio32.4x
Book Value$9.05
Div Yield0%
Shares O/S259.01M
Ave Daily Vol1,736,200
Short Int5.10%

Current

Price$61.72
Market Cap$15.07B
Trimble Navigation Ltd provides integrated positioning, wireless, and software technology solutions that enable field and mobile workers to be more productive.

Publicly traded companies mentioned herein: AGCO Corporation (AGCO), Deere & Company (DE), Monsanto Company (MON), Raytheon Company (RTN), Trimble Navigation Ltd (TRMB)

Highlights

The presenter is short shares of Trimble Navigation (TRMB) and believes the company is facing a potentially material growth problem. At ~$27, the stock trades at nearly 20x expected 2014 EPS, and FCF per share is just 80% of earnings. If he considers all of TRMB’s recent acquisitions – or even a fair portion of them – as working capital (not unreasonable, in his opinion) then the company generates almost no FCF.

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Idea Discussion

Commentor 1 - 2 weeks ago

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