Titan Machinery (TITN) Financials

$16.11 -0.40 (-2.42%)

Closing price 04/15/2025 04:00 PM Eastern

Extended Trading

$16.11 +0.00 (+0.03%)

As of 04/15/2025 04:06 PM Eastern

Annual Income Statements for Titan Machinery

This table shows Titan Machinery's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024	2025
Net Income / (Loss) Attributable to Common Shareholders	66	102	112	-37
Consolidated Net Income / (Loss)	66	102	112	-37
Net Income / (Loss) Continuing Operations	66	102	112	-37
Total Pre-Tax Income	87	135	151	-50
Total Operating Income	90	138	169	4.01
Total Gross Profit	333	440	531	396
Total Revenue	1,712	2,209	2,758	2,702
Operating Revenue	1,712	2,209	2,758	2,702
Total Cost of Revenue	1,379	1,769	2,227	2,306
Operating Cost of Revenue	1,379	1,769	2,227	2,306
Total Operating Expenses	243	302	363	392
Other Operating Expenses / (Income)	241	302	363	390
Impairment Charge	1.50	0.00	0.00	1.84
Total Other Income / (Expense), net	-3.28	-3.08	-18	-54
Interest Expense	5.71	6.94	21	50
Other Income / (Expense), net	2.43	3.86	3.30	-4.18
Income Tax Expense	21	33	39	-13
Basic Earnings per Share	$2.93	$4.50	$4.93	($1.63)
Weighted Average Basic Shares Outstanding	22.24M	22.37M	22.49M	22.61M
Diluted Earnings per Share	$2.92	$4.49	$4.93	($1.63)
Weighted Average Diluted Shares Outstanding	22.25M	22.38M	22.50M	22.61M
Weighted Average Basic & Diluted Shares Outstanding	22.59M	22.70M	22.85M	23.12M

This table shows Titan Machinery's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Net Income / (Loss) Attributable to Common Shareholders	25	41	18	27	31	30	24	9.44	-4.30	1.71	-44
Consolidated Net Income / (Loss)	25	41	18	27	31	30	24	9.44	-4.30	1.71	-44
Net Income / (Loss) Continuing Operations	25	41	18	27	31	30	24	9.44	-4.30	1.71	-44
Total Pre-Tax Income	33	55	24	35	42	40	34	13	-4.25	0.28	-59
Total Operating Income	34	55	25	37	45	46	41	23	16	11	-46
Total Gross Profit	103	140	109	119	133	138	141	122	112	110	51
Total Revenue	497	669	583	570	643	694	852	629	634	680	760
Operating Revenue	497	669	583	570	643	694	852	629	634	680	760
Total Cost of Revenue	394	529	474	451	509	556	711	507	521	569	709
Operating Cost of Revenue	394	529	474	451	509	556	711	507	521	569	709
Total Operating Expenses	69	85	84	81	89	92	100	99	97	99	97
Other Operating Expenses / (Income)	69	85	84	81	89	92	100	99	95	99	97
Total Other Income / (Expense), net	-0.72	-0.04	-1.36	-1.83	-3.06	-5.77	-7.15	-9.81	-20	-11	-13
Interest Expense	1.59	1.85	2.06	2.55	3.70	5.54	9.32	9.52	13	14	13
Other Income / (Expense), net	0.87	1.80	0.69	0.72	0.64	-0.24	2.17	-0.29	-7.05	3.10	0.06
Income Tax Expense	8.19	13	5.72	8.47	10	10	9.60	3.35	0.05	-1.44	-15
Basic Earnings per Share	$1.10	$1.82	$0.80	$1.19	$1.38	$1.32	$1.04	$0.41	($0.19)	$0.07	($1.92)
Weighted Average Basic Shares Outstanding	22.39M	22.39M	22.37M	22.44M	22.48M	22.51M	22.49M	22.54M	22.62M	22.63M	22.61M
Diluted Earnings per Share	$1.10	$1.82	$0.79	$1.19	$1.38	$1.32	$1.04	$0.41	($0.19)	$0.07	($1.92)
Weighted Average Diluted Shares Outstanding	22.39M	22.40M	22.38M	22.45M	22.48M	22.52M	22.50M	22.55M	22.62M	22.63M	22.61M
Weighted Average Basic & Diluted Shares Outstanding	22.57M	22.71M	22.70M	22.67M	22.86M	22.85M	22.85M	22.82M	23.13M	23.13M	23.12M

This table details how cash moves in and out of Titan Machinery's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024	2025
Net Change in Cash & Equivalents	92	-102	-6.46	-2.17
Net Cash From Operating Activities	159	11	-32	70
Net Cash From Continuing Operating Activities	184	6.20	-33	70
Net Income / (Loss) Continuing Operations	66	102	112	-37
Consolidated Net Income / (Loss)	66	102	112	-37
Depreciation Expense	22	25	31	39
Non-Cash Adjustments To Reconcile Net Income	25	20	378	-58
Changes in Operating Assets and Liabilities, net	71	-141	-555	126
Net Cash From Investing Activities	-55	-134	-163	-48
Net Cash From Continuing Investing Activities	-55	-134	-163	-48
Purchase of Property, Plant & Equipment	-15	-9.99	-62	-52
Acquisitions	-34	-100	-108	-0.26
Sale of Property, Plant & Equipment	16	3.76	7.13	4.16
Other Investing Activities, net	-23	-27	-0.60	0.20
Net Cash From Financing Activities	-35	22	189	-24
Net Cash From Continuing Financing Activities	-35	22	189	-24
Repayment of Debt	-10	-8.79	-14	-23
Issuance of Debt	10	8.42	20	37
Other Financing Activities, net	-35	22	183	-38
Effect of Exchange Rate Changes	-	-	1.23	-1.09
Cash Interest Paid	5.40	6.52	19	48
Cash Income Taxes Paid	23	27	40	6.56

This table details how cash moves in and out of Titan Machinery's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Net Change in Cash & Equivalents	-5.04	-96	-1.94	-5.56	14	10	-33	-2.38	-4.47	-29	34
Net Cash From Operating Activities	-26	14	18	-78	-45	41	50	-32	-15	-8.83	126
Net Cash From Continuing Operating Activities	-26	14	13	-78	-45	34	49	-32	-15	-30	148
Net Income / (Loss) Continuing Operations	25	41	18	27	31	30	24	9.44	-4.31	1.71	-44
Consolidated Net Income / (Loss)	25	41	18	27	31	30	24	9.44	-4.31	1.71	-44
Depreciation Expense	5.76	7.37	6.84	6.95	7.69	8.23	8.61	8.72	9.70	10	9.91
Non-Cash Adjustments To Reconcile Net Income	58	-23	-69	89	67	120	95	97	128	-135	-148
Changes in Operating Assets and Liabilities, net	-115	-12	57	-200	-151	-125	-78	-147	-149	93	330
Net Cash From Investing Activities	-8.79	-103	-10	-26	-24	-13	-99	-13	-8.56	-7.97	-18
Net Cash From Continuing Investing Activities	-8.79	-103	-10	-26	-24	-13	-99	-13	-8.56	-7.97	-18
Purchase of Property, Plant & Equipment	-0.91	-2.58	-1.39	-1.33	-1.36	-2.46	-20	-14	-8.81	-8.26	-21
Sale of Property, Plant & Equipment	0.79	0.48	1.65	2.85	3.18	0.42	0.68	0.95	0.25	0.29	2.67
Other Investing Activities, net	-8.68	-8.34	-10	-10	-16	-11	0.05	0.13	-0.00	-0.00	0.07
Net Cash From Financing Activities	32	-5.23	-12	98	84	-12	18	43	19	8.56	-95
Net Cash From Continuing Financing Activities	32	-5.23	-12	98	84	-12	18	43	19	8.56	-95
Repayment of Debt	-2.14	-1.73	-2.50	-4.20	-5.51	-2.10	-2.36	-3.36	-13	-2.91	-3.76
Issuance of Debt	-	-	-	5.13	1.37	1.22	12	0.00	-	12	25
Other Financing Activities, net	34	-3.50	-9.88	97	88	-11	8.80	46	33	-0.98	-116
Effect of Exchange Rate Changes	-	-	-	-	-	-	-0.68	-0.21	-0.22	0.44	-1.11
Cash Interest Paid	1.47	1.74	1.92	2.09	3.29	5.10	8.90	9.46	12	12	14
Cash Income Taxes Paid	11	4.60	11	0.08	15	14	11	1.04	5.67	-0.83	0.68

This table presents Titan Machinery's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024	2025
Total Assets	947	1,189	1,992	1,814
Total Current Assets	690	869	1,519	1,293
Cash & Equivalents	146	44	38	36
Accounts Receivable	94	96	154	120
Inventories, net	422	704	1,303	1,109
Prepaid Expenses	28	26	24	28
Plant, Property, & Equipment, net	178	218	299	380
Total Noncurrent Assets	78	102	174	142
Goodwill	8.95	31	64	61
Intangible Assets	11	18	53	48
Noncurrent Deferred & Refundable Income Taxes	1.33	1.25	0.53	2.55
Other Noncurrent Operating Assets	57	51	56	30
Total Liabilities & Shareholders' Equity	947	1,189	1,992	1,814
Total Liabilities	511	652	1,335	1,200
Total Current Liabilities	375	498	1,152	961
Short-Term Debt	5.88	17	14	11
Accounts Payable	26	41	44	37
Current Deferred Revenue	134	120	116	92
Current Deferred & Payable Income Tax Liabilities	4.70	0.00	0.00	0.00
Other Current Liabilities	204	320	905	821
Total Noncurrent Liabilities	137	154	182	239
Long-Term Debt	75	90	106	158
Noncurrent Deferred & Payable Income Tax Liabilities	2.01	9.56	23	8.82
Other Noncurrent Operating Liabilities	60	6.21	53	72
Commitments & Contingencies	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	435	536	658	614
Total Preferred & Common Equity	435	536	658	614
Total Common Equity	435	536	658	614
Common Stock	254	257	259	262
Retained Earnings	183	285	397	360
Accumulated Other Comprehensive Income / (Loss)	-2.17	-5.02	1.76	-8.33

This table presents Titan Machinery's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Total Assets	1,010	1,078	1,125	1,378	1,517	1,650	2,088	2,221	2,109
Total Current Assets	748	813	804	1,044	1,165	1,286	1,615	1,709	1,597
Cash & Equivalents	147	142	46	38	53	70	36	31	23
Accounts Receivable	85	96	112	131	120	129	134	132	140
Inventories, net	494	556	630	854	979	1,071	1,430	1,528	1,413
Prepaid Expenses	22	18	16	20	14	15	15	18	20
Plant, Property, & Equipment, net	183	189	216	234	252	267	304	357	357
Total Noncurrent Assets	78	76	105	101	99	97	168	154	156
Goodwill	9.54	9.54	32	31	31	31	63	63	64
Intangible Assets	12	11	17	18	18	18	51	51	52
Noncurrent Deferred & Refundable Income Taxes	2.30	2.24	2.94	2.17	3.77	4.97	0.52	0.51	0.54
Other Noncurrent Operating Assets	55	53	53	49	46	43	54	39	39
Total Liabilities & Shareholders' Equity	1,010	1,078	1,125	1,378	1,517	1,650	2,088	2,221	2,109
Total Liabilities	559	604	613	814	920	1,024	1,425	1,561	1,441
Total Current Liabilities	417	460	463	660	778	885	1,248	1,343	1,212
Short-Term Debt	6.27	6.65	6.90	7.48	11	21	25	9.94	9.50
Accounts Payable	27	28	43	43	41	38	48	40	45
Accrued Expenses	47	43	57	48	49	71	65	59	59
Current Deferred Revenue	130	92	57	98	63	44	85	58	42
Current Deferred & Payable Income Tax Liabilities	9.46	6.29	16	11	7.87	5.62	0.00	0.00	0.00
Other Current Liabilities	198	284	283	453	605	706	1,025	1,176	1,056
Total Noncurrent Liabilities	141	144	151	154	142	139	177	218	229
Long-Term Debt	82	87	91	93	87	88	105	117	131
Noncurrent Deferred & Payable Income Tax Liabilities	2.00	1.99	1.97	9.57	9.57	9.56	22	22	20
Other Noncurrent Operating Liabilities	57	55	58	51	46	2.66	2.46	79	78
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	451	474	511	564	597	626	663	660	668
Total Preferred & Common Equity	451	474	511	564	597	626	663	660	668
Total Common Equity	451	474	511	564	597	626	663	660	668
Common Stock	254	255	256	256	257	258	259	260	261
Retained Earnings	200	225	267	312	343	373	407	402	404
Accumulated Other Comprehensive Income / (Loss)	-3.36	-6.33	-11	-3.92	-3.37	-5.31	-2.77	-2.71	3.11

This table displays calculated financial ratios and metrics derived from Titan Machinery's official financial filings.

Metric	2022	2023	2024	2025
Growth Metrics	-	-	-	-
Revenue Growth	21.31%	29.06%	24.86%	-2.04%
EBITDA Growth	86.18%	45.86%	21.65%	-81.13%
EBIT Growth	144.14%	53.53%	21.07%	-100.10%
NOPAT Growth	191.11%	52.01%	20.64%	-97.77%
Net Income Growth	241.22%	54.24%	10.38%	-132.83%
EPS Growth	239.53%	53.77%	9.80%	-133.06%
Operating Cash Flow Growth	-8.14%	-93.19%	-398.45%	317.75%
Free Cash Flow Firm Growth	17.07%	-528.41%	84.05%	-109.11%
Invested Capital Growth	8.17%	75.27%	23.68%	0.78%
Revenue Q/Q Growth	4.32%	3.53%	10.81%	-3.30%
EBITDA Q/Q Growth	25.09%	-1.90%	10.15%	-69.44%
EBIT Q/Q Growth	33.39%	-2.92%	10.95%	-100.19%
NOPAT Q/Q Growth	45.95%	-3.68%	8.68%	-95.74%
Net Income Q/Q Growth	48.77%	-4.07%	5.49%	-219.79%
EPS Q/Q Growth	47.47%	-4.06%	5.34%	-222.56%
Operating Cash Flow Q/Q Growth	-13.85%	-86.40%	49.65%	1,195.90%
Free Cash Flow Firm Q/Q Growth	22.95%	-210.80%	-15.31%	82.01%
Invested Capital Q/Q Growth	-7.39%	15.01%	13.98%	-4.91%
Profitability Metrics	-	-	-	-
Gross Margin	19.44%	19.91%	19.26%	14.64%
EBITDA Margin	6.70%	7.58%	7.38%	1.42%
Operating Margin	5.27%	6.26%	6.12%	0.15%
EBIT Margin	5.41%	6.44%	6.24%	-0.01%
Profit (Net Income) Margin	3.86%	4.61%	4.08%	-1.37%
Tax Burden Percent	76.00%	75.32%	74.44%	73.84%
Interest Burden Percent	93.83%	95.12%	87.74%	29,402.94%
Effective Tax Rate	24.00%	24.68%	25.56%	0.00%
Return on Invested Capital (ROIC)	19.27%	20.48%	17.35%	0.38%
ROIC Less NNEP Spread (ROIC-NNEP)	24.52%	10.41%	6.97%	-36.36%
Return on Net Nonoperating Assets (RNNOA)	-2.89%	0.49%	1.49%	-6.18%
Return on Equity (ROE)	16.38%	20.97%	18.84%	-5.80%
Cash Return on Invested Capital (CROIC)	11.42%	-34.21%	-3.83%	-0.40%
Operating Return on Assets (OROA)	10.51%	13.32%	10.82%	-0.01%
Return on Assets (ROA)	7.49%	9.54%	7.07%	-1.94%
Return on Common Equity (ROCE)	16.38%	20.97%	18.84%	-5.80%
Return on Equity Simple (ROE_SIMPLE)	15.18%	18.99%	17.10%	-6.01%
Net Operating Profit after Tax (NOPAT)	69	104	126	2.81
NOPAT Margin	4.00%	4.72%	4.56%	0.10%
Net Nonoperating Expense Percent (NNEP)	-5.25%	10.06%	10.38%	36.73%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	0.36%
Cost of Revenue to Revenue	80.56%	80.09%	80.74%	85.36%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.17%	13.65%	13.14%	14.49%
Earnings before Interest and Taxes (EBIT)	93	142	172	-0.17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	115	167	204	38
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	1.60	1.86	0.93	0.71
Price to Tangible Book Value (P/TBV)	1.67	2.05	1.13	0.86
Price to Revenue (P/Rev)	0.41	0.45	0.22	0.16
Price to Earnings (P/E)	10.53	9.79	5.43	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%
Earnings Yield	9.49%	10.21%	18.41%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.70	1.71	0.94	0.76
Enterprise Value to Revenue (EV/Rev)	0.37	0.50	0.27	0.21
Enterprise Value to EBITDA (EV/EBITDA)	5.49	6.63	3.71	14.72
Enterprise Value to EBIT (EV/EBIT)	6.81	7.80	4.38	0.00
Enterprise Value to NOPAT (EV/NOPAT)	9.20	10.65	6.00	201.63
Enterprise Value to Operating Cash Flow (EV/OCF)	3.97	102.57	0.00	8.05
Enterprise Value to Free Cash Flow (EV/FCFF)	15.51	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-
Debt to Equity	0.19	0.29	0.28	0.27
Long-Term Debt to Equity	0.17	0.26	0.24	0.26
Financial Leverage	-0.12	0.05	0.21	0.17
Leverage Ratio	2.19	2.20	2.66	2.99
Compound Leverage Factor	2.05	2.09	2.34	880.02
Debt to Total Capital	15.63%	22.48%	21.66%	21.55%
Short-Term Debt to Total Capital	1.14%	2.47%	2.91%	1.40%
Long-Term Debt to Total Capital	14.50%	20.01%	18.75%	20.16%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	84.37%	77.52%	78.34%	78.45%
Debt to EBITDA	0.70	0.93	0.89	4.39
Net Debt to EBITDA	-0.57	0.67	0.71	3.46
Long-Term Debt to EBITDA	0.65	0.83	0.77	4.11
Debt to NOPAT	1.18	1.49	1.45	60.13
Net Debt to NOPAT	-0.96	1.07	1.14	47.33
Long-Term Debt to NOPAT	1.09	1.33	1.25	56.23
Altman Z-Score	3.62	3.88	2.44	2.20
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-
Current Ratio	1.84	1.75	1.32	1.35
Quick Ratio	0.64	0.28	0.17	0.16
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	41	-174	-28	-2.97
Operating Cash Flow to CapEx	0.00%	173.39%	-58.45%	147.41%
Free Cash Flow to Firm to Interest Expense	7.11	-25.07	-1.32	-0.06
Operating Cash Flow to Interest Expense	27.82	1.56	-1.53	1.41
Operating Cash Flow Less CapEx to Interest Expense	28.08	0.66	-4.15	0.45
Efficiency Ratios	-	-	-	-
Asset Turnover	1.94	2.07	1.73	1.42
Accounts Receivable Turnover	20.95	23.24	22.11	19.76
Inventory Turnover	3.28	3.14	2.22	1.91
Fixed Asset Turnover	10.52	11.16	10.68	7.97
Accounts Payable Turnover	60.37	53.23	52.60	56.94
Days Sales Outstanding (DSO)	17.42	15.71	16.51	18.47
Days Inventory Outstanding (DIO)	111.18	116.10	164.46	190.82
Days Payable Outstanding (DPO)	6.05	6.86	6.94	6.41
Cash Conversion Cycle (CCC)	122.55	124.95	174.03	202.88
Capital & Investment Metrics	-	-	-	-
Invested Capital	370	648	801	747
Invested Capital Turnover	4.81	4.34	3.81	3.63
Increase / (Decrease) in Invested Capital	28	278	153	5.77
Enterprise Value (EV)	630	1,109	755	566
Market Capitalization	696	998	611	433
Book Value per Share	$19.26	$23.62	$28.78	$26.55
Tangible Book Value per Share	$18.40	$21.46	$23.64	$21.82
Total Capital	516	692	839	783
Total Debt	81	156	182	169
Total Long-Term Debt	75	138	157	158
Net Debt	-66	112	144	133
Capital Expenditures (CapEx)	-1.45	6.24	55	48
Debt-free, Cash-free Net Working Capital (DFCFNWC)	175	344	353	307
Debt-free Net Working Capital (DFNWC)	321	388	391	343
Net Working Capital (NWC)	316	371	367	332
Net Nonoperating Expense (NNE)	2.49	2.32	13	40
Net Nonoperating Obligations (NNO)	-66	112	144	133
Total Depreciation and Amortization (D&A)	22	25	31	39
Debt-free, Cash-free Net Working Capital to Revenue	10.24%	15.58%	12.80%	11.35%
Debt-free Net Working Capital to Revenue	18.78%	17.57%	14.18%	12.68%
Net Working Capital to Revenue	18.44%	16.80%	13.29%	12.27%
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	$2.93	$4.50	$4.93	($1.63)
Adjusted Weighted Average Basic Shares Outstanding	22.24M	22.37M	22.49M	22.61M
Adjusted Diluted Earnings per Share	$2.92	$4.49	$4.93	($1.63)
Adjusted Weighted Average Diluted Shares Outstanding	22.25M	22.38M	22.50M	22.61M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	22.59M	22.70M	22.85M	23.12M
Normalized Net Operating Profit after Tax (NOPAT)	70	104	126	4.10
Normalized NOPAT Margin	4.07%	4.72%	4.56%	0.15%
Pre Tax Income Margin	5.08%	6.12%	5.48%	-1.85%
Debt Service Ratios	-	-	-	-
EBIT to Interest Expense	16.21	20.48	8.16	0.00
NOPAT to Interest Expense	12.00	15.00	5.96	0.06
EBIT Less CapEx to Interest Expense	16.47	19.58	5.54	-0.96
NOPAT Less CapEx to Interest Expense	12.25	14.11	3.34	-0.90
Payout Ratios	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Titan Machinery's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	31.49%	47.31%	14.85%	23.56%	29.41%	3.79%	46.17%	10.37%	-1.38%	-2.06%	-10.82%
EBITDA Growth	80.07%	78.04%	-9.00%	48.50%	30.79%	-15.13%	57.34%	-30.96%	-65.27%	-54.21%	-169.57%
EBIT Growth	103.18%	87.45%	-14.17%	51.73%	30.35%	-18.63%	65.66%	-41.27%	-80.79%	-68.35%	-206.66%
NOPAT Growth	115.48%	84.68%	-17.23%	55.35%	31.85%	-16.43%	51.80%	-41.15%	-67.21%	106.84%	-210.29%
Net Income Growth	121.88%	89.11%	-19.27%	53.73%	25.49%	-26.82%	32.30%	-64.99%	-113.74%	-94.33%	-282.63%
EPS Growth	120.00%	87.63%	-19.39%	52.56%	25.45%	-27.47%	31.65%	-65.55%	-113.77%	-94.70%	-284.62%
Operating Cash Flow Growth	-1,737.01%	-68.39%	-79.28%	-1,560.33%	-71.24%	194.04%	177.33%	58.36%	66.63%	-121.73%	154.08%
Free Cash Flow Firm Growth	78.07%	-1,555.80%	-5,324.93%	-1,268.08%	-3,950.93%	14.38%	51.99%	21.42%	44.42%	89.61%	40.96%
Invested Capital Growth	7.59%	41.13%	75.27%	59.59%	50.96%	24.80%	23.68%	28.45%	17.57%	11.71%	0.78%
Revenue Q/Q Growth	7.71%	34.69%	-12.83%	-2.29%	12.80%	8.02%	22.77%	-26.22%	0.79%	7.28%	11.78%
EBITDA Q/Q Growth	33.87%	57.73%	-48.78%	37.30%	17.90%	2.35%	-5.05%	-39.75%	-40.69%	34.93%	-244.28%
EBIT Q/Q Growth	38.79%	62.68%	-54.21%	46.75%	19.23%	1.55%	-6.76%	-47.97%	-60.99%	67.25%	-414.24%
NOPAT Q/Q Growth	39.72%	61.90%	-53.63%	48.09%	18.58%	2.62%	-15.76%	-42.60%	-33.92%	547.32%	-144.92%
Net Income Q/Q Growth	42.30%	65.30%	-56.10%	48.88%	16.15%	-3.60%	-20.64%	-60.60%	-145.59%	139.80%	-2,654.64%
EPS Q/Q Growth	41.03%	65.45%	-56.59%	50.63%	15.97%	-4.35%	-21.21%	-60.58%	-146.34%	136.84%	-2,842.86%
Operating Cash Flow Q/Q Growth	-593.78%	152.60%	29.89%	-532.89%	42.10%	190.32%	22.51%	-164.99%	53.60%	41.20%	1,532.78%
Free Cash Flow Firm Q/Q Growth	69.92%	-2,618.11%	-110.84%	20.64%	10.93%	42.55%	-18.21%	-29.89%	37.00%	89.26%	-245.93%
Invested Capital Q/Q Growth	8.34%	32.45%	15.01%	-3.30%	2.48%	9.49%	13.98%	0.43%	-6.20%	4.03%	-4.91%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	20.68%	20.87%	18.67%	20.82%	20.76%	19.93%	16.55%	19.37%	17.73%	16.25%	6.71%
EBITDA Margin	8.16%	9.55%	5.61%	7.89%	8.24%	7.81%	6.04%	4.93%	2.90%	3.65%	-4.71%
Operating Margin	6.82%	8.18%	4.32%	6.54%	6.95%	6.66%	4.78%	3.59%	2.49%	1.69%	-6.03%
EBIT Margin	7.00%	8.45%	4.44%	6.67%	7.05%	6.63%	5.03%	3.55%	1.37%	2.14%	-6.02%
Profit (Net Income) Margin	5.03%	6.17%	3.11%	4.73%	4.87%	4.35%	2.81%	1.50%	-0.68%	0.25%	-5.76%
Tax Burden Percent	75.29%	75.45%	76.01%	76.09%	75.31%	74.64%	71.40%	73.84%	101.27%	622.91%	74.43%
Interest Burden Percent	95.41%	96.74%	92.06%	93.30%	91.83%	87.96%	78.26%	57.31%	-48.84%	1.89%	128.56%
Effective Tax Rate	24.71%	24.55%	23.99%	23.91%	24.69%	25.36%	28.60%	26.16%	0.00%	-522.91%	0.00%
Return on Invested Capital (ROIC)	24.02%	27.37%	14.26%	22.64%	24.16%	19.54%	12.98%	10.45%	7.00%	39.41%	-15.32%
ROIC Less NNEP Spread (ROIC-NNEP)	26.41%	27.21%	9.77%	-52.10%	157.77%	12.88%	8.99%	3.37%	-14.77%	-32.21%	-26.15%
Return on Net Nonoperating Assets (RNNOA)	-1.38%	1.11%	0.46%	-0.19%	-0.51%	1.47%	1.92%	0.56%	-1.66%	-4.84%	-4.45%
Return on Equity (ROE)	22.63%	28.48%	14.72%	22.45%	23.65%	21.01%	14.91%	11.01%	5.34%	34.57%	-19.77%
Cash Return on Invested Capital (CROIC)	14.43%	-11.64%	-34.21%	-23.49%	-17.68%	-3.80%	-3.83%	-8.98%	-3.27%	-2.21%	-0.40%
Operating Return on Assets (OROA)	14.01%	18.22%	9.19%	12.94%	13.39%	11.89%	8.73%	5.77%	2.06%	3.18%	-8.55%
Return on Assets (ROA)	10.06%	13.30%	6.43%	9.19%	9.26%	7.81%	4.88%	2.44%	-1.02%	0.37%	-8.18%
Return on Common Equity (ROCE)	22.63%	28.48%	14.72%	22.45%	23.65%	21.01%	14.91%	11.01%	5.34%	34.57%	-19.77%
Return on Equity Simple (ROE_SIMPLE)	18.29%	20.77%	0.00%	19.73%	19.72%	17.03%	0.00%	14.32%	8.99%	4.61%	0.00%
Net Operating Profit after Tax (NOPAT)	26	41	19	28	34	35	29	17	11	71	-32
NOPAT Margin	5.14%	6.17%	3.28%	4.98%	5.23%	4.97%	3.41%	2.65%	1.74%	10.50%	-4.22%
Net Nonoperating Expense Percent (NNEP)	-2.39%	0.16%	4.49%	74.74%	-133.61%	6.66%	4.00%	7.07%	21.77%	71.63%	10.82%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	-4.10%
Cost of Revenue to Revenue	79.32%	79.13%	81.33%	79.18%	79.24%	80.07%	83.45%	80.63%	82.27%	83.75%	93.29%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	13.86%	12.69%	14.35%	14.28%	13.81%	13.27%	11.77%	15.77%	15.25%	14.57%	12.74%
Earnings before Interest and Taxes (EBIT)	35	57	26	38	45	46	43	22	8.70	15	-46
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	41	64	33	45	53	54	51	31	18	25	-36
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.34	1.52	1.86	1.26	1.21	0.91	0.93	0.77	0.62	0.48	0.71
Price to Tangible Book Value (P/TBV)	1.40	1.68	2.05	1.38	1.32	0.99	1.13	0.93	0.75	0.57	0.86
Price to Revenue (P/Rev)	0.33	0.36	0.45	0.31	0.29	0.23	0.22	0.18	0.14	0.11	0.16
Price to Earnings (P/E)	7.32	7.31	9.79	6.39	6.15	5.33	5.43	5.36	6.86	10.30	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	13.66%	13.69%	10.21%	15.64%	16.26%	18.77%	18.41%	18.66%	14.57%	9.71%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.38	1.47	1.71	1.24	1.20	0.92	0.94	0.81	0.67	0.55	0.76
Enterprise Value to Revenue (EV/Rev)	0.31	0.39	0.50	0.33	0.31	0.26	0.27	0.23	0.18	0.16	0.21
Enterprise Value to EBITDA (EV/EBITDA)	4.11	4.85	6.63	4.25	3.95	3.49	3.71	3.43	3.24	3.46	14.72
Enterprise Value to EBIT (EV/EBIT)	4.88	5.65	7.80	4.99	4.64	4.16	4.38	4.16	4.19	4.91	0.00
Enterprise Value to NOPAT (EV/NOPAT)	6.57	7.65	10.65	6.77	6.28	5.58	6.00	5.71	5.58	6.60	201.63
Enterprise Value to Operating Cash Flow (EV/OCF)	5.36	10.41	102.57	0.00	0.00	0.00	0.00	49.80	11.67	0.00	8.05
Enterprise Value to Free Cash Flow (EV/FCFF)	9.89	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.20	0.19	0.29	0.18	0.16	0.24	0.28	0.27	0.19	0.21	0.27
Long-Term Debt to Equity	0.18	0.18	0.26	0.17	0.15	0.20	0.24	0.23	0.18	0.20	0.26
Financial Leverage	-0.05	0.04	0.05	0.00	0.00	0.11	0.21	0.17	0.11	0.15	0.17
Leverage Ratio	2.21	2.14	2.20	2.35	2.42	2.44	2.66	2.83	2.98	2.91	2.99
Compound Leverage Factor	2.11	2.07	2.02	2.19	2.23	2.15	2.09	1.62	-1.45	0.05	3.85
Debt to Total Capital	16.42%	16.08%	22.48%	15.18%	14.14%	19.05%	21.66%	21.17%	16.10%	17.39%	21.55%
Short-Term Debt to Total Capital	1.17%	1.13%	2.47%	1.13%	1.61%	2.71%	2.91%	2.95%	1.26%	1.17%	1.40%
Long-Term Debt to Total Capital	15.24%	14.95%	20.01%	14.05%	12.53%	16.33%	18.75%	18.22%	14.84%	16.21%	20.16%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	83.58%	83.92%	77.52%	84.82%	85.86%	80.95%	78.34%	78.83%	83.90%	82.61%	78.45%
Debt to EBITDA	0.65	0.57	0.93	0.55	0.50	0.80	0.89	0.94	0.82	1.12	4.39
Net Debt to EBITDA	-0.34	0.31	0.67	0.34	0.23	0.42	0.71	0.75	0.61	0.93	3.46
Long-Term Debt to EBITDA	0.61	0.53	0.83	0.51	0.45	0.68	0.77	0.81	0.75	1.04	4.11
Debt to NOPAT	1.04	0.91	1.49	0.88	0.80	1.27	1.45	1.56	1.41	2.14	60.13
Net Debt to NOPAT	-0.55	0.48	1.07	0.55	0.37	0.67	1.14	1.25	1.06	1.78	47.33
Long-Term Debt to NOPAT	0.97	0.84	1.33	0.82	0.71	1.09	1.25	1.34	1.30	1.99	56.23
Altman Z-Score	3.20	3.52	3.56	2.95	2.82	2.54	2.23	2.08	1.89	1.97	2.12
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.77	1.74	1.75	1.58	1.50	1.45	1.32	1.29	1.27	1.32	1.35
Quick Ratio	0.52	0.34	0.28	0.26	0.22	0.23	0.17	0.14	0.12	0.14	0.16
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-4.52	-123	-259	-206	-183	-105	-124	-162	-102	-11	-38
Operating Cash Flow to CapEx	-22,456.41%	658.36%	0.00%	0.00%	0.00%	1,989.91%	252.00%	-253.26%	-175.34%	-110.75%	688.28%
Free Cash Flow to Firm to Interest Expense	-2.84	-66.61	-126.09	-80.76	-49.53	-19.00	-13.34	-16.97	-7.86	-0.77	-2.90
Operating Cash Flow to Interest Expense	-16.48	7.49	8.73	-30.52	-12.17	7.34	5.34	-3.40	-1.16	-0.62	9.68
Operating Cash Flow Less CapEx to Interest Expense	-16.56	6.35	8.86	-29.92	-11.67	6.97	3.22	-4.74	-1.82	-1.18	8.28
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.00	2.16	2.07	1.94	1.90	1.79	1.73	1.63	1.50	1.49	1.42
Accounts Receivable Turnover	21.51	21.59	23.24	21.45	22.80	20.64	22.11	21.23	22.33	20.72	19.76
Inventory Turnover	3.13	3.28	3.14	2.74	2.56	2.34	2.22	2.00	1.83	1.86	1.91
Fixed Asset Turnover	10.92	10.91	11.16	11.11	11.17	10.31	10.68	10.47	9.22	8.95	7.97
Accounts Payable Turnover	62.91	50.52	53.23	52.80	56.42	48.92	52.60	50.27	56.19	55.83	56.94
Days Sales Outstanding (DSO)	16.97	16.91	15.71	17.02	16.01	17.69	16.51	17.19	16.34	17.61	18.47
Days Inventory Outstanding (DIO)	116.47	111.40	116.10	133.14	142.75	156.03	164.46	182.57	199.36	196.37	190.82
Days Payable Outstanding (DPO)	5.80	7.23	6.86	6.91	6.47	7.46	6.94	7.26	6.50	6.54	6.41
Cash Conversion Cycle (CCC)	127.64	121.09	124.95	143.24	152.28	166.26	174.03	192.51	209.21	207.45	202.88
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	425	563	648	627	642	703	801	805	755	785	747
Invested Capital Turnover	4.68	4.43	4.34	4.55	4.62	3.93	3.81	3.94	4.02	3.75	3.63
Increase / (Decrease) in Invested Capital	30	164	278	234	217	140	153	178	113	82	5.77
Enterprise Value (EV)	586	828	1,109	774	769	645	755	651	502	435	566
Market Capitalization	635	776	998	712	724	568	611	509	407	317	433
Book Value per Share	$21.02	$22.66	$23.62	$24.85	$26.32	$27.37	$28.78	$29.00	$28.91	$28.89	$26.55
Tangible Book Value per Share	$20.08	$20.49	$21.46	$22.69	$24.14	$25.21	$23.64	$24.00	$23.90	$23.88	$21.82
Total Capital	567	609	692	665	695	773	839	841	786	809	783
Total Debt	93	98	156	101	98	147	182	178	127	141	169
Total Long-Term Debt	87	91	138	93	87	126	157	153	117	131	158
Net Debt	-49	52	112	63	45	77	144	142	95	117	133
Capital Expenditures (CapEx)	0.12	2.10	-0.25	-1.52	-1.82	2.04	20	13	8.56	7.97	18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	217	302	344	352	346	351	353	356	344	371	307
Debt-free Net Working Capital (DFNWC)	360	348	388	391	399	421	391	392	376	394	343
Net Working Capital (NWC)	353	341	371	383	387	400	367	367	366	385	332
Net Nonoperating Expense (NNE)	0.54	0.03	1.04	1.39	2.30	4.31	5.10	7.24	15	70	12
Net Nonoperating Obligations (NNO)	-49	52	112	63	45	77	144	142	95	117	133
Total Depreciation and Amortization (D&A)	5.76	7.37	6.84	6.95	7.69	8.23	8.61	8.72	9.70	10	9.91
Debt-free, Cash-free Net Working Capital to Revenue	11.33%	14.15%	15.58%	15.21%	14.04%	14.11%	12.80%	12.65%	12.26%	13.27%	11.35%
Debt-free Net Working Capital to Revenue	18.73%	16.30%	17.57%	16.86%	16.18%	16.92%	14.18%	13.91%	13.37%	14.11%	12.68%
Net Working Capital to Revenue	18.39%	15.98%	16.80%	16.54%	15.73%	16.07%	13.29%	13.03%	13.02%	13.77%	12.27%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.10	$1.82	$0.80	$1.19	$1.38	$1.32	$1.04	$0.41	($0.19)	$0.07	($1.92)
Adjusted Weighted Average Basic Shares Outstanding	22.39M	22.39M	22.37M	22.44M	22.48M	22.51M	22.49M	22.54M	22.62M	22.63M	22.61M
Adjusted Diluted Earnings per Share	$1.10	$1.82	$0.79	$1.19	$1.38	$1.32	$1.04	$0.41	($0.19)	$0.07	($1.92)
Adjusted Weighted Average Diluted Shares Outstanding	22.39M	22.40M	22.38M	22.45M	22.48M	22.52M	22.50M	22.55M	22.62M	22.63M	22.61M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	22.57M	22.71M	22.70M	22.67M	22.86M	22.85M	22.85M	22.82M	23.13M	23.13M	23.12M
Normalized Net Operating Profit after Tax (NOPAT)	26	41	19	28	34	35	29	17	12	8.20	-32
Normalized NOPAT Margin	5.14%	6.17%	3.28%	4.98%	5.23%	4.97%	3.41%	2.65%	1.90%	1.21%	-4.22%
Pre Tax Income Margin	6.68%	8.18%	4.09%	6.22%	6.47%	5.83%	3.94%	2.03%	-0.67%	0.04%	-7.74%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	21.80	30.64	12.60	14.92	12.25	8.30	4.60	2.34	0.67	1.02	-3.50
NOPAT to Interest Expense	16.00	22.38	9.32	11.14	9.09	6.23	3.12	1.75	0.85	5.00	-2.45
EBIT Less CapEx to Interest Expense	21.72	29.50	12.72	15.52	12.74	7.93	2.48	1.00	0.01	0.46	-4.91
NOPAT Less CapEx to Interest Expense	15.93	21.24	9.44	11.73	9.58	5.86	1.00	0.41	0.19	4.44	-3.86
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Titan Machinery's Financials

When does Titan Machinery's financial year end?

According to the most recent income statement we have on file, Titan Machinery's fiscal year ends in January. Their fiscal year 2025 ended on January 31, 2025.

How has Titan Machinery's net income changed over the last 3 years?

Titan Machinery's net income appears to be on a downward trend, with a most recent value of -$36.91 million in 2025, falling from $66.05 million in 2022. The previous period was $112.44 million in 2024.

What is Titan Machinery's operating income?

Titan Machinery's total operating income in 2025 was $4.01 million, based on the following breakdown:

Total Gross Profit: $395.63 million
Total Operating Expenses: $391.62 million

How has Titan Machinery revenue changed over the last 3 years?

Over the last 3 years, Titan Machinery's total revenue changed from $1.71 billion in 2022 to $2.70 billion in 2025, a change of 57.8%.

How much debt does Titan Machinery have?

Titan Machinery's total liabilities were at $1.20 billion at the end of 2025, a 10.1% decrease from 2024, and a 134.6% increase since 2022.

How much cash does Titan Machinery have?

In the past 3 years, Titan Machinery's cash and equivalents has ranged from $35.90 million in 2025 to $146.15 million in 2022, and is currently $35.90 million as of their latest financial filing in 2025.

How has Titan Machinery's book value per share changed over the last 3 years?

Over the last 3 years, Titan Machinery's book value per share changed from 19.26 in 2022 to 26.55 in 2025, a change of 37.8%.

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This page (NASDAQ:TITN) was last updated on 4/16/2025 by MarketBeat.com Staff

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Titan Machinery (TITN) Financials

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Titan Machinery (TITN) Financials

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