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TITN

Titan Machinery Inc.

TITN

Titan Machinery Inc. • NASDAQ
$18.52 ▼ -0.96% (-0.18)
Market Cap $421.84 M
52w High $23.41
52w Low $12.50
Dividend Yield 0%
P/E -6.81
Volume 225.71K
Outstanding Shares 22.78M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2026 $644.511M ▲ $99.885M ▲ $1.198M ▲ 0.186% ▲ $0.05 ▲ $23.592M ▲
Q2-2026 $546.426M ▼ $92.984M ▼ $-6M ▲ -1.098% ▲ $-0.26 ▲ $12.714M ▲
Q1-2026 $594.336M ▼ $96.67M ▼ $-13.204M ▲ -2.222% ▲ $-0.58 ▲ $3.18M ▲
Q4-2025 $759.921M ▲ $96.693M ▼ $-43.761M ▼ -5.759% ▼ $-1.93 ▼ $-35.819M ▼
Q3-2025 $679.824M $98.773M $1.713M 0.252% $0.076 $24.828M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2026 $48.79M ▲ $1.769B ▼ $1.157B ▼ $612.626M ▲
Q2-2026 $32.675M ▲ $1.878B ▲ $1.268B ▲ $610.343M ▲
Q1-2026 $21.514M ▼ $1.798B ▼ $1.192B ▼ $605.444M ▼
Q4-2025 $35.898M ▲ $1.814B ▼ $1.2B ▼ $614.077M ▼
Q3-2025 $23.42M $2.109B $1.441B $668.2M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2026 $1.198M ▲ $33.99M ▼ $7.826M ▲ $-25.769M ▼ $16.115M ▲ $31.256M ▼
Q2-2026 $-6M ▲ $43.699M ▲ $-19.618M ▼ $-14.18M ▲ $11.161M ▲ $36.032M ▲
Q1-2026 $-13.204M ▲ $6.195M ▼ $-5.234M ▲ $-15.781M ▲ $-14.384M ▼ $-1.793M ▼
Q4-2025 $-43.761M ▼ $126.486M ▲ $-18.307M ▼ $-94.587M ▼ $12.478M ▲ $105.439M ▲
Q3-2025 $1.714M $-8.828M $-7.972M $8.557M $-7.799M $74.993M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q2-2026
Other Revenue
Other Revenue
 $0 ▲$0 ▲$40.00M ▲$0 ▼
Rental Revenue
Rental Revenue
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Sales of Equipment
Sales of Equipment
 $470.00M ▲$500.00M ▲$620.00M ▲$380.00M ▼
Sales of Parts
Sales of Parts
 $110.00M ▲$120.00M ▲$90.00M ▼$110.00M ▲
Service Sales
Service Sales
 $50.00M ▲$50.00M ▲$40.00M ▼$50.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown meaningfully over the last several years, but the most recent year shows a slight step back after a strong run. The bigger story is on profitability: margins improved steadily for a few years, then dropped sharply in the latest period. Operating profit is now roughly at breakeven and net income has swung from solidly positive to a loss. This pattern points to a combination of pressure on equipment margins, possibly higher operating costs, and the normal cyclicality of agriculture and construction demand. Earlier years suggest that the business model can be profitable at scale, but the latest results highlight how sensitive earnings are to market conditions, inventory mix, and integration of acquisitions.

Balance Sheet

Balance Sheet Over time, Titan has grown its asset base significantly, reflecting expansion of its dealership footprint, inventories, and operations. Shareholders’ equity has also risen, showing that past profits have been retained in the business and that the company has generally built up its capital base. The main watch point is debt. Borrowings have increased substantially compared with a few years ago, which is common for an equipment dealer but still raises financial risk if sales slow or margins stay under pressure. Cash on hand is modest, so the company is relying on its credit lines, inventory management, and ongoing cash generation to stay comfortable. Overall, the balance sheet supports a scaled operation, but with clearly higher leverage than earlier in the decade.

Cash Flow

Cash Flow Cash generation has been uneven. In the earlier part of the period, operating cash flow was healthy and comfortably covered investment needs. More recently, swings in working capital tied to inventory and receivables have led to weaker and sometimes negative operating cash flow. Free cash flow has therefore bounced between positive and negative, rather than providing a consistently strong surplus. Capital spending itself looks disciplined and relatively steady; the bigger variable is how much cash gets tied up in inventory and growth. The latest year shows only modest free cash flow, suggesting less cushion if operating conditions remain soft or if the company continues to grow through acquisitions.

Competitive Edge

Competitive Edge Titan holds a strong position as one of the largest dealers for CNH Industrial brands, with a wide network of full‑service locations across the U.S., Europe, and Australia. This scale allows it to stock a broad range of new and used equipment, respond quickly with parts and service, and build long‑term relationships with farmers and construction firms. Its recurring parts and service business provides some stability in an otherwise cyclical industry, and its multi‑brand CNH offering gives customers choice versus more single‑brand dealer networks. However, the company is heavily tied to the health of agricultural and construction markets and to CNH as a principal supplier. Cycles in commodity prices, equipment replacement, and credit availability can all swing demand sharply, as the recent profit drop suggests. Integration risk from acquisitions is another ongoing factor to watch.

Innovation and R&D

Innovation and R&D As a dealer rather than a manufacturer, Titan’s innovation focus is on integrating and delivering advanced technology from its partners rather than doing heavy internal R&D. It has positioned itself as a technology enabler in precision agriculture, autonomy, and digital farm management. Partnerships with firms like Raven, Augmenta, Precision Planting, and others let Titan offer customers data‑driven farming tools, variable‑rate applications, improved planting systems, and advanced guidance and control in both agriculture and construction. On top of hardware, Titan has invested in digital platforms and support tools—such as farm management software, live video support for troubleshooting, and a dedicated CRM system—to deepen customer ties and reduce downtime. The opportunity is to be the trusted technology partner for customers, though much of the underlying innovation remains controlled by OEMs and software partners, which can limit Titan’s direct control over the tech roadmap and margins.

Summary

Titan Machinery has scaled significantly in recent years, expanding revenue, assets, and its geographic footprint. Earlier years in this period show that the business can generate solid profits and healthy cash flow when end markets are favorable and inventory is well managed. The most recent year, however, reflects the downside of its cyclical exposure: profit margins have compressed sharply, net income has turned negative, and cash flow is only modestly positive. The company’s strengths lie in its large dealer network, strong relationships with CNH and other technology partners, and a stable, recurring parts and service business that helps offset swings in equipment sales. Its push into precision agriculture, digital tools, and future‑oriented technologies like autonomy and electrification should help it stay relevant as farming and construction become more data‑driven. Key uncertainties center on higher leverage, dependence on cyclical markets and a limited set of major suppliers, and the execution risk of integrating acquisitions while managing inventories. Overall, Titan looks like a scaled, strategically positioned dealer that is currently working through a tougher part of the agricultural and construction cycle, with its long‑term prospects closely tied to how well it balances growth, technology adoption, and financial discipline through those cycles.

NEWS

November 25, 2025 · 6:45 AM UTC

Titan Machinery Inc. Announces Results for Fiscal Third Quarter Ended October 31, 2025

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November 11, 2025 · 6:45 AM UTC

Titan Machinery Inc. to Report Fiscal Third Quarter Ended October 31, 2025 Results on Tuesday, November 25, 2025

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November 10, 2025 · 6:45 AM UTC

Titan Machinery Announces Divestiture of its Dealership Operations in Germany

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