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TWI

Titan International, Inc.

TWI

Titan International, Inc. • NYSE
$8.09 ▼ -0.98% (-0.08)
Market Cap $517.29 M
52w High $10.94
52w Low $5.93
Dividend Yield 0%
P/E -80.9
Volume 210.58K
Outstanding Shares 63.94M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $466.466M ▲ $57.821M ▼ $-2.262M ▲ -0.485% ▲ $-0.04 ▲ $25.128M ▼
Q2-2025 $460.83M ▼ $59.113M ▲ $-4.545M ▼ -0.986% ▼ $-0.072 ▼ $27.383M ▼
Q1-2025 $490.708M ▲ $56.845M ▼ $-649K ▼ -0.132% ▼ $-0.01 ▼ $29.658M ▲
Q4-2024 $383.573M ▼ $58.202M ▲ $1.339M ▲ 0.349% ▲ $0.021 ▲ $4.942M ▼
Q3-2024 $447.985M $55.998M $-18.249M -4.074% $-0.25 $16.357M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $205.381M ▲ $1.75B ▼ $1.176B ▲ $569.065M ▼
Q2-2025 $184.669M ▲ $1.752B ▲ $1.175B ▼ $570.485M ▲
Q1-2025 $174.43M ▼ $1.722B ▲ $1.183B ▲ $534.251M ▲
Q4-2024 $195.974M ▼ $1.585B ▼ $1.091B ▲ $496.073M ▼
Q3-2024 $227.293M $1.687B $1.089B $597.767M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.262M ▲ $41.521M ▲ $-11.588M ▼ $-7.421M ▼ $20.712M ▲ $29.889M ▲
Q2-2025 $-3.604M ▼ $14.313M ▲ $-10.018M ▲ $-1.708M ▼ $10.239M ▲ $4.219M ▲
Q1-2025 $22K ▼ $-38.591M ▼ $-14.828M ▼ $18.614M ▲ $-21.544M ▲ $-53.618M ▼
Q4-2024 $1.339M ▲ $8.736M ▼ $-12.568M ▲ $-8.503M ▲ $-31.319M ▼ $-4.57M ▼
Q3-2024 $-18.199M $59.905M $-17.758M $-40.821M $3.193M $41.786M

Revenue by Products

Product Q1-2023Q2-2023Q3-2023Q4-2023
Agricultural
Agricultural
 $310.00M ▲$270.00M ▼$210.00M ▼$190.00M ▼
Consumer
Consumer
 $40.00M ▲$40.00M ▲$30.00M ▼$40.00M ▲
Earthmovingconstruction
Earthmovingconstruction
 $200.00M ▲$170.00M ▼$160.00M ▼$160.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Titan’s sales have generally trended upward over the past five years, helped by stronger agricultural and construction markets, though revenue has eased off from its recent peak. Profitability improved sharply coming out of 2020, with solid operating and net profits in 2022 and 2023. The latest year shows a clear step back: operating profit narrowed and net income slipped into a small loss. That points to pressure on margins, likely from softer demand in some end markets, higher costs, or integration and strategy-related spending. Overall, the income statement tells a story of a cyclical, improving business that hit a strong peak in 2022, held up reasonably in 2023, and then ran into headwinds more recently. The key questions going forward are whether recent margin pressure is temporary and how well Titan can defend and rebuild profitability as agricultural and construction cycles evolve.

Balance Sheet

Balance Sheet Titan’s balance sheet has strengthened over the last five years. Total assets have grown steadily, and shareholders’ equity has roughly tripled since the early part of the period, reflecting several years of better profitability and retained earnings. Cash levels are healthy relative to past years, giving the company some flexibility, although debt has moved noticeably higher in the most recent year. That means leverage has increased even as the company slipped into a small loss, which slightly tightens the financial cushion. Overall, the balance sheet has improved compared with where it was earlier in the decade, but the recent jump in debt alongside weaker earnings is something to watch, especially if end markets stay soft for an extended period.

Cash Flow

Cash Flow Titan’s cash flow picture is more stable than its earnings swings might suggest. Operating cash flow has been consistently positive in recent years and has grown meaningfully since 2020, showing that the core business is generating real cash even when accounting profits move around. Free cash flow has been positive in most years, after normal levels of investment in plants and equipment. Capital spending has been rising modestly but remains well covered by cash from operations, indicating that growth and efficiency investments have not overstretched the company. Taken together, the cash flow profile looks like a key strength: it provides support for debt service, selective capital projects, and strategic moves even through the normal ups and downs of the agricultural and construction cycles.

Competitive Edge

Competitive Edge Titan occupies a specialized niche in off‑highway wheels, tires, assemblies, and undercarriage systems, with a heavy focus on agriculture but meaningful exposure to construction and mining. Its most distinctive advantage is its position as a vertically integrated “one‑stop shop” that designs and manufactures both wheels and tires, which is unusual in this industry and creates switching costs for customers. The company benefits from long‑standing relationships with major equipment makers and a large global dealer network, which helps support aftermarket sales. A renewed and expanded licensing agreement for a well‑known tire brand strengthens customer recognition and opens doors in adjacent segments such as light construction and specialty vehicles. Competition remains intense, and Titan still operates in cyclical, price‑sensitive markets, but its integration, brand portfolio, and entrenched OEM relationships provide a meaningful, if not unassailable, moat.

Innovation and R&D

Innovation and R&D Titan’s most notable innovation is its Low Sidewall (LSW) technology, which redesigns the wheel and tire package to deliver better traction, less soil compaction, and smoother, more stable operation. This is particularly valuable in modern agriculture, where yield and fuel efficiency are critical, and where growers care deeply about soil health. The company has also been investing in its manufacturing footprint, adding automation and larger presses to support new product lines like AgraEDGE. Beyond agriculture, Titan is extending its technologies and brands into construction, mining, lawn and garden, ATV, and other specialty segments, supported by the integration of the Carlstar acquisition. Innovation at Titan is tightly tied to customer feedback and practical performance gains rather than experimental, high‑risk R&D. The main opportunity is continued adoption of LSW and other differentiated products across more equipment categories and regions; the main risk is that competitors narrow the technology gap or that customers are slow to change from traditional solutions.

Summary

Titan International looks like a cyclical industrial company that has materially improved its operations and financial footing since 2020, but is now coming off a peak period with some renewed pressure on profitability. Revenue has grown over the longer span, and past years showed strong earnings, yet the latest results highlight that margins are not immune to softer demand, cost inflation, or integration spending. The balance sheet is stronger than it used to be, with higher equity and solid cash, but the recent increase in debt combined with weaker earnings bears monitoring. In contrast, cash generation from operations and free cash flow remain clear positives and provide resilience through the cycle. Strategically, Titan’s edge lies in its specialized positioning, vertical integration, and innovations such as LSW, bolstered by powerful brands and deep OEM and dealer relationships worldwide. Future performance will depend on how well it can drive broader adoption of its technologies, execute on its long‑term plan, and manage leverage and margins through the inevitable ups and downs of agricultural and construction markets.

NEWS

November 6, 2025 · 6:00 AM UTC

Titan International, Inc. Reports Third Quarter Financial Results

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October 28, 2025 · 4:15 PM UTC

TITAN INTERNATIONAL INC. CLOSES ON STRATEGIC PARTNERSHIP WITH BRAZILIAN WHEEL MANUFACTURER RODAROS

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October 15, 2025 · 4:15 PM UTC

Titan International, Inc. to Announce Third Quarter 2025 Financial Results on November 6

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