CNH Industrial N.V. (CNH) Financial Ratios
22 years of historical data (2004–2025) · Industrials · Agricultural - Machinery
EV/EBITDA
↓
10.76
+12% vs avg
5yr avg: 9.63
30Y Low5.4·High19.7
P/FCF
↓
6.50
↓-40% vs avg
5yr avg: 10.80
30Y Low3.5·High45.3
P/B Ratio
↓
1.67
↓-32% vs avg
5yr avg: 2.46
30Y Low0.6·High10.2
ROE
↓
6.5%
↑-70% vs avg
5yr avg: 22.1%
30Y Low-9%·High30%
Debt/EBITDA
↓
7.91
↑+24% vs avg
5yr avg: 6.38
30Y Low3.6·High16.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CNH Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
CNH Industrial N.V. trades at 25.5x earnings, 90% above its 5-year average of 13.4x, sitting at the 72nd percentile of its historical range. This is roughly in line with the Industrials sector median P/E of 25.6x. On a free-cash-flow basis, the stock trades at 6.5x P/FCF, 40% below the 5-year average of 10.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $13.0B | $11.5B | $14.3B | $16.4B | $21.9B | $26.4B | $17.6B | $14.9B | $12.5B | $18.3B | $11.8B |
| Enterprise Value | $36.8B | $35.3B | $38.2B | $39.7B | $40.7B | $52.6B | $46.8B | $45.8B | $42.4B | $50.3B | $42.4B |
| P/E Ratio → | 25.51 | 22.49 | 11.44 | 7.21 | 10.78 | 15.30 | — | 10.48 | 11.81 | 67.00 | — |
| P/S Ratio | 0.72 | 0.64 | 0.72 | 0.67 | 0.93 | 1.36 | 1.19 | 0.53 | 0.42 | 0.66 | 0.47 |
| P/B Ratio | 1.67 | 1.47 | 1.84 | 2.02 | 3.14 | 3.86 | 3.50 | 2.42 | 2.46 | 4.30 | 2.65 |
| P/FCF | 6.50 | 5.78 | 18.26 | — | — | 8.37 | 3.75 | — | 19.23 | 29.08 | 19.99 |
| P/OCF | 5.11 | 4.54 | 7.25 | 18.13 | 39.27 | 6.48 | 3.18 | 8.16 | 4.91 | 6.39 | 4.34 |
P/E links to full P/E history page with 30-year chart
CNH EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
CNH Industrial N.V.'s enterprise value stands at 10.8x EBITDA, 12% above its 5-year average of 9.6x. The Industrials sector median is 13.8x, placing the stock at a 22% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.95 | 1.93 | 1.61 | 1.73 | 2.70 | 3.17 | 1.63 | 1.43 | 1.82 | 1.69 |
| EV / EBITDA | 10.76 | 10.34 | 8.59 | 7.21 | 8.32 | 13.70 | 19.72 | 10.10 | 9.09 | 11.84 | 13.34 |
| EV / EBIT | 13.18 | 12.67 | 12.47 | 9.82 | 12.17 | 21.50 | 97.39 | 13.79 | 12.74 | 17.35 | 41.79 |
| EV / FCF | — | 17.71 | 48.91 | — | — | 16.63 | 10.00 | — | 65.02 | 79.81 | 71.66 |
CNH Profitability
Margins and return-on-capital ratios measuring operating efficiency
CNH Industrial N.V. earns an operating margin of 15.4%, above the Industrials sector average of 4.3%. Operating margins have compressed from 20.0% to 15.4% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 6.5% is modest, trailing the sector median of 8.2%. ROIC of 6.6% represents adequate returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.4% | 31.4% | 32.7% | 31.8% | 29.6% | 27.7% | 24.5% | 22.5% | 21.8% | 21.2% | 20.1% |
| Operating Margin | 15.4% | 15.4% | 19.4% | 20.0% | 18.5% | 16.9% | 12.4% | 11.8% | 11.2% | 10.5% | 7.6% |
| Net Profit Margin | 2.8% | 2.8% | 6.3% | 9.2% | 8.6% | 8.8% | -3.3% | 5.1% | 3.6% | 1.0% | -1.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.5% | 6.5% | 15.7% | 30.1% | 29.3% | 29.0% | -8.8% | 25.3% | 22.8% | 6.2% | -5.4% |
| ROA | 1.2% | 1.2% | 2.8% | 5.3% | 4.6% | 3.5% | -1.0% | 3.0% | 2.3% | 0.6% | -0.5% |
| ROIC | 6.6% | 6.6% | 9.1% | 13.0% | 11.1% | 7.4% | 3.9% | 6.9% | 7.0% | 6.1% | 4.1% |
| ROCE | 8.3% | 8.3% | 13.5% | 15.8% | 13.3% | 9.3% | 4.7% | 8.8% | 8.8% | 7.5% | 4.9% |
CNH Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
CNH Industrial N.V. carries a Debt/EBITDA ratio of 7.9x, which is highly leveraged (144% above the sector average of 3.2x). Net debt stands at $23.8B ($27.0B total debt minus $3.2B cash). Interest coverage of just 1.8x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.45 | 3.45 | 3.50 | 3.39 | 3.32 | 4.55 | 7.57 | 5.81 | 6.84 | 8.78 | 7.96 |
| Debt / EBITDA | 7.91 | 7.91 | 6.10 | 5.01 | 4.74 | 8.12 | 16.01 | 7.89 | 7.48 | 8.80 | 11.19 |
| Net Debt / Equity | — | 3.04 | 3.09 | 2.86 | 2.70 | 3.81 | 5.82 | 5.02 | 5.86 | 7.51 | 6.84 |
| Net Debt / EBITDA | 6.96 | 6.96 | 5.38 | 4.23 | 3.85 | 6.81 | 12.32 | 6.81 | 6.40 | 7.52 | 9.62 |
| Debt / FCF | — | 11.93 | 30.66 | — | — | 8.26 | 6.25 | — | 45.80 | 50.73 | 51.67 |
| Interest Coverage | 1.80 | 1.80 | 1.90 | 3.01 | 4.55 | 4.45 | 0.73 | 4.16 | 4.10 | 3.28 | 0.99 |
CNH Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
CNH Industrial N.V.'s current ratio of 7.75x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 6.60x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.02x to 7.75x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.75 | 7.75 | 2.16 | 2.02 | 5.27 | 2.21 | 3.55 | 3.73 | 3.48 | 3.40 | 4.29 |
| Quick Ratio | 6.60 | 6.60 | 1.84 | 1.71 | 4.41 | 1.97 | 2.93 | 2.92 | 2.75 | 2.74 | 3.51 |
| Cash Ratio | 0.80 | 0.80 | 0.22 | 0.25 | 0.78 | 0.28 | 0.90 | 0.56 | 0.55 | 0.56 | 0.70 |
| Asset Turnover | — | 0.42 | 0.46 | 0.53 | 0.60 | 0.39 | 0.30 | 0.59 | 0.64 | 0.57 | 0.55 |
| Inventory Turnover | 2.67 | 2.67 | 2.80 | 3.04 | 3.45 | 3.34 | 1.85 | 3.07 | 3.45 | 3.38 | 3.53 |
| Days Sales Outstanding | — | 474.45 | 430.18 | 366.11 | 305.77 | 291.49 | 468.33 | 257.95 | 240.35 | 267.42 | 280.50 |
CNH Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
CNH Industrial N.V. returns 2.5% to shareholders annually primarily through dividends. A payout ratio of 65.3% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 3.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.5% | 2.9% | 4.3% | 3.3% | 1.9% | 0.7% | 0.0% | 1.9% | 1.9% | 0.9% | 1.7% |
| Payout Ratio | 65.3% | 65.3% | 48.7% | 23.6% | 20.8% | 10.9% | — | 19.9% | 22.8% | 61.8% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.9% | 4.4% | 8.7% | 13.9% | 9.3% | 6.5% | — | 9.5% | 8.5% | 1.5% | — |
| FCF Yield | 15.4% | 17.3% | 5.5% | — | — | 12.0% | 26.6% | — | 5.2% | 3.4% | 5.0% |
| Buyback Yield | 0.0% | 0.0% | 4.9% | 4.0% | 0.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.5% | 2.9% | 9.2% | 7.2% | 2.6% | 0.7% | 0.0% | 1.9% | 1.9% | 0.9% | 1.7% |
| Shares Outstanding | — | $1.3B | $1.3B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B |
Peer Comparison
Compare CNH with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CNHYou | $13B | 25.5 | 10.8 | 6.5 | 31.4% | 15.4% | 6.5% | 6.6% | 7.9 |
 DE | $159B | 31.9 | 20.2 | 49.2 | 36.5% | 18.8% | 20.5% | 7.8% | 6.0 |
 AGCO | $8B | 11.7 | 9.8 | 11.1 | 24.8% | 6.9% | 16.9% | 8.3% | 2.6 |
 CAT | $459B | 52.4 | 36.5 | 44.6 | 32.3% | 16.6% | 43.5% | 15.9% | 3.2 |
 PCAR | $63B | 26.4 | 14.1 | 20.7 | 16.2% | 10.4% | 12.9% | 12.2% | — |
 CMI | $99B | 35.0 | 21.0 | 41.5 | 25.3% | 11.5% | 23.0% | 16.1% | 1.6 |
 OSK | $67B | 13.9 | 57.8 | 107.7 | 16.9% | 9.1% | 14.9% | 13.5% | 1.3 |
 ACCO | $360M | 8.9 | 6.7 | 7.1 | 29.8% | 7.1% | 6.5% | 5.5% | 5.1 |
 LNN | $1B | 17.6 | 10.4 | 13.8 | 31.2% | 13.0% | 14.6% | 15.7% | 1.3 |
 CF | $16B | 11.5 | 5.4 | 8.8 | 38.5% | 33.4% | 18.9% | 18.7% | 1.2 |
 MOS | $7B | 13.5 | 5.5 | — | 15.1% | 8.7% | 4.5% | 4.8% | 2.4 |
| Industrials Median | — | 25.6 | 13.8 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 22 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into CNH consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
CNH — Frequently Asked Questions
Quick answers to the most common questions about buying CNH stock.
What is CNH Industrial N.V.'s P/E ratio?
CNH Industrial N.V.'s current P/E ratio is 25.5x. The historical average is 22.8x. This places it at the 72th percentile of its historical range.
What is CNH Industrial N.V.'s EV/EBITDA?
CNH Industrial N.V.'s current EV/EBITDA is 10.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.7x.
What is CNH Industrial N.V.'s ROE?
CNH Industrial N.V.'s return on equity (ROE) is 6.5%. The historical average is 11.1%.
Is CNH stock overvalued?
Based on historical data, CNH Industrial N.V. is trading at a P/E of 25.5x. This is at the 72th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is CNH Industrial N.V.'s dividend yield?
CNH Industrial N.V.'s current dividend yield is 2.54% with a payout ratio of 65.3%.
What are CNH Industrial N.V.'s profit margins?
CNH Industrial N.V. has 31.4% gross margin and 15.4% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does CNH Industrial N.V. have?
CNH Industrial N.V.'s Debt/EBITDA ratio is 7.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.