Titan International, Inc. (TWI) 10-Year Financial Performance & Capital Metrics

TWI • • Industrial / General

IndustrialsAgricultural MachinerySpecialized Agricultural EquipmentSpecialized Farm Equipment

AboutTitan International, Inc., together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, the Middle East, Africa, Russia, and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers rims, wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment. The company also offers rims, wheels, tires, and undercarriage systems and components for off-the-road earthmoving, mining, military, construction, and forestry equipment, including skid steers, aerial lifts, cranes, graders and levelers, scrapers, self-propelled shovel loaders, articulated dump trucks, load transporters, haul trucks, backhoe loaders, crawler tractors, lattice cranes, shovels, and hydraulic excavators. In addition, it provides bias and light truck tires; and products for ATVs, turf, and golf cart applications, as well as specialty and train brakes. It sells its products directly to original equipment manufacturers, as well as to the aftermarket through independent distributors, equipment dealers, and own distribution centers. Titan International, Inc. was founded in 1890 and is headquartered in Quincy, Illinois.Show more

Revenue $1.85B +1.3%
EBITDA $94M -50.9%
Net Income -$6M -107.1%
EPS (Diluted) -0.08 -106.5%
Gross Margin 13.97% -16.8%
EBITDA Margin 5.09% -51.5%
Operating Margin 1.8% -78.0%
Net Margin -0.3% -107.0%
ROE -1.16% -106.2%
ROIC 2.99% -81.8%
Debt/Equity 1.38 +48.0%
Interest Coverage 0.91 -88.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 25.0%
✓Trading at only 1.3x book value
✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

✗Weak Piotroski F-Score: 2/9

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-0.26%

5Y4.97%

3Y1.22%

TTM-2.75%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM35.37%

EPS CAGR

10Y-

5Y-

3Y-

TTM17.16%

ROCE

10Y Avg4.88%

5Y Avg10.69%

3Y Avg15.43%

Latest3.14%

Peer Comparison

Specialized Farm Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ARTWArt's-Way Manufacturing Co., Inc.	12.1M	2.37	38.98	-19.09%	10.43%	18.06%	15.72%	0.40
ALGAlamo Group Inc.	2.34B	193.05	20.05	-3.62%	7.2%	10.27%	7.9%	0.22
LNNLindsay Corporation	1.32B	126.39	18.64	11.41%	11.02%	14.17%	6.84%	0.26
TWITitan International, Inc.	596.67M	9.33	-115.19	1.32%	-0.34%	-1.06%	12.71%	1.38

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.39B	1.27B	1.47B	1.6B	1.45B	1.26B	1.78B	2.17B	1.82B	1.85B
Revenue Growth %	-0.26%	-0.09%	0.16%	0.09%	-0.1%	-0.13%	0.41%	0.22%	-0.16%	0.01%
Cost of Goods Sold+	1.26B	1.12B	1.31B	1.4B	1.32B	1.14B	1.54B	1.81B	1.52B	1.59B
COGS % of Revenue	0.9%	0.89%	0.89%	0.88%	0.91%	0.91%	0.87%	0.83%	0.83%	0.86%
Gross Profit+	137.81M	142.48M	158.28M	198.27M	129M	114.32M	237.54M	360.71M	305.85M	257.8M
Gross Margin %	0.1%	0.11%	0.11%	0.12%	0.09%	0.09%	0.13%	0.17%	0.17%	0.14%
Gross Profit Growth %	-0.02%	0.03%	0.11%	0.25%	-0.35%	-0.11%	1.08%	0.52%	-0.15%	-0.16%
Operating Expenses+	162.09M	163.81M	171.46M	156.02M	157.44M	149.67M	152.37M	154.91M	157.12M	224.62M
OpEx % of Revenue	0.12%	0.13%	0.12%	0.1%	0.11%	0.12%	0.09%	0.07%	0.09%	0.12%
Selling, General & Admin	140.39M	144.99M	150.68M	134.79M	137.7M	130.94M	131.77M	132.79M	134.94M	191.79M
SG&A % of Revenue	0.1%	0.11%	0.1%	0.08%	0.1%	0.1%	0.07%	0.06%	0.07%	0.1%
Research & Development	11.16M	9.97M	10.3M	11.15M	9.86M	9.01M	10.1M	10.4M	12.54M	16.52M
R&D % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0.01%	0.01%
Other Operating Expenses	11.06M	12.47M	11.14M	19.2M	9.88M	9.71M	10.49M	11.71M	9.64M	16.3M
Operating Income+	-24.28M	-21.33M	-13.18M	42.24M	-28.43M	-35.35M	85.17M	205.8M	148.73M	33.18M
Operating Margin %	-0.02%	-0.02%	-0.01%	0.03%	-0.02%	-0.03%	0.05%	0.09%	0.08%	0.02%
Operating Income Growth %	0.75%	0.12%	0.38%	4.2%	-1.67%	-0.24%	3.41%	1.42%	-0.28%	-0.78%
EBITDA+	45.34M	36.67M	44.12M	98.44M	25.94M	19.3M	132.18M	247.7M	191.16M	93.89M
EBITDA Margin %	0.03%	0.03%	0.03%	0.06%	0.02%	0.02%	0.07%	0.11%	0.1%	0.05%
EBITDA Growth %	6.08%	-0.19%	0.2%	1.23%	-0.74%	-0.26%	5.85%	0.87%	-0.23%	-0.51%
D&A (Non-Cash Add-back)	69.62M	58M	57.3M	56.2M	54.38M	54.66M	47M	41.9M	42.43M	60.7M
EBIT	-17.97M	-3.94M	-22.65M	50.26M	-16.04M	-27.58M	83.26M	232.15M	128.53M	44.7M
Net Interest Income+	-31.36M	-29.33M	-26.87M	-28.35M	-32M	-30.55M	-32.22M	-29.8M	-18.79M	-25.41M
Interest Income	2.67M	3.21M	3.36M	2.11M	1.13M	0	0	2.35M	0	11.02M
Interest Expense	34.03M	32.54M	30.23M	30.46M	33.14M	30.55M	32.22M	32.15M	18.79M	36.43M
Other Income/Expense	-27.73M	-14.07M	-39.69M	-22.44M	-19.61M	-22.78M	-34.13M	-3.45M	-38.98M	-24.91M
Pretax Income+	-52.01M	-32.86M	-52.88M	19.81M	-48.04M	-58.13M	51.04M	202.35M	109.75M	8.27M
Pretax Margin %	-0.04%	-0.03%	-0.04%	0.01%	-0.03%	-0.05%	0.03%	0.09%	0.06%	0%
Income Tax+	38.28M	3.28M	11.2M	6.76M	3.48M	6.95M	1.15M	23.17M	26.04M	11.86M
Effective Tax Rate %	1.45%	1.03%	1.14%	0.81%	1.01%	1.04%	0.97%	0.87%	0.72%	-0.67%
Net Income+	-75.63M	-33.99M	-60.04M	16.09M	-48.42M	-60.39M	49.59M	176.3M	78.76M	-5.56M
Net Margin %	-0.05%	-0.03%	-0.04%	0.01%	-0.03%	-0.05%	0.03%	0.08%	0.04%	-0%
Net Income Growth %	0.06%	0.55%	-0.77%	1.27%	-4.01%	-0.25%	1.82%	2.56%	-0.55%	-1.07%
Net Income (Continuing)	-89.83M	-39.76M	-64.08M	13.04M	-51.52M	-65.08M	49.89M	179.19M	83.71M	-3.59M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-376K	-3.94M	-10.85M	-8.95M	4.14M	-3M	-2.13M	1.9M	355K	-2.42M
EPS (Diluted)+	-1.41	-0.63	-1.01	0.27	-0.86	-1.07	0.79	2.77	1.25	-0.08
EPS Growth %	0.06%	0.55%	-0.6%	1.27%	-4.19%	-0.24%	1.74%	2.51%	-0.55%	-1.06%
EPS (Basic)	-1.41	-0.63	-1.01	0.27	-0.86	-1.07	0.80	2.80	1.26	-0.08
Diluted Shares Outstanding	53.7M	53.92M	59.34M	59.91M	60.1M	60.82M	62.69M	63.69M	62.96M	68.66M
Basic Shares Outstanding	53.67M	53.92M	59.32M	59.82M	60.1M	60.82M	62.1M	63.04M	62.45M	68.66M
Dividend Payout Ratio	-	-	-	0.07%	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	710M	726.24M	783.19M	779.48M	651.47M	658.6M	813.3M	909.63M	876.78M	912.04M
Cash & Short-Term Investments	200.19M	197.83M	143.57M	81.69M	66.8M	117.43M	98.11M	159.58M	220.25M	195.97M
Cash Only	200.19M	147.83M	143.57M	81.69M	66.8M	117.43M	98.11M	159.58M	220.25M	195.97M
Short-Term Investments	0	50M	0	0	0	0	0	0	0	0
Accounts Receivable	180.56M	180.28M	227.38M	242.89M	201.29M	204.67M	279.65M	305.94M	234.4M	221.8M
Days Sales Outstanding	47.25	52	56.5	55.33	50.72	59.32	57.34	51.47	46.96	43.86
Inventory	269.79M	269.29M	339.84M	395.74M	333.36M	293.68M	392.62M	397.22M	365.16M	437.19M
Days Inventory Outstanding	78.34	87.52	94.64	102.87	92.2	93.62	92.89	80.16	87.92	100.48
Other Current Assets	32.96M	44.16M	34.35M	7.02M	35.29M	26.43M	25.59M	23.84M	8.24M	32.03M
Total Non-Current Assets+	565.19M	536.72M	506.92M	471.77M	462.84M	373.29M	369.38M	375M	412.46M	672.92M
Property, Plant & Equipment	450.02M	437.2M	421.25M	384.87M	391.51M	344.21M	322.05M	305.54M	333.65M	538.25M
Fixed Asset Turnover	3.10x	2.89x	3.49x	4.16x	3.70x	3.66x	5.53x	7.10x	5.46x	3.43x
Goodwill	0	0	0	0	0	0	0	0	0	29.56M
Intangible Assets	17.8M	20.21M	15.97M	19.36M	20.57M	12.77M	8.2M	7.08M	7.27M	15.44M
Long-Term Investments	52.03M	53.58M	51.9M	51.22M	38.95M	5.6M	6.52M	6.95M	7.13M	7.92M
Other Non-Current Assets	39.37M	21.06M	14.02M	13.46M	9.47M	8.12M	15.77M	16.7M	26.39M	40.02M
Total Assets+	1.28B	1.26B	1.29B	1.25B	1.11B	1.03B	1.18B	1.28B	1.29B	1.58B
Asset Turnover	1.09x	1.00x	1.14x	1.28x	1.30x	1.22x	1.51x	1.69x	1.41x	1.16x
Asset Growth %	-0.15%	-0.01%	0.02%	-0.03%	-0.11%	-0.07%	0.15%	0.09%	0%	0.23%
Total Current Liabilities+	270.1M	366.1M	372.92M	375.07M	327.15M	329.71M	450.81M	446.16M	372.38M	387.36M
Accounts Payable	123.15M	148.25M	195.5M	212.13M	158.65M	167.21M	278.1M	263.38M	201.2M	219.59M
Days Payables Outstanding	35.76	48.19	54.44	55.14	43.88	53.3	65.8	53.15	48.44	50.47
Short-Term Debt	31.22M	97.41M	43.65M	51.88M	61.25M	31.12M	32.5M	30.86M	16.91M	12.48M
Deferred Revenue (Current)	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	81.95M	82.61M	74.95M	75.03M	54.83M	86.43M	91.84M	85.17M	91.36M	86.61M
Current Ratio	2.63x	1.98x	2.10x	2.08x	1.99x	2.00x	1.80x	2.04x	2.35x	2.35x
Quick Ratio	1.63x	1.25x	1.19x	1.02x	0.97x	1.11x	0.93x	1.15x	1.37x	1.23x
Cash Conversion Cycle	89.83	91.34	96.7	103.05	99.04	99.64	84.43	78.49	86.44	93.87
Total Non-Current Liabilities+	660.41M	606.91M	607.11M	606.09M	548.17M	525.91M	504.7M	455.33M	449.45M	703.94M
Long-Term Debt	475.44M	408.76M	407.17M	409.57M	438.47M	433.58M	452.45M	414.76M	409.18M	552.97M
Capital Lease Obligations	675K	384K	0	0	17.36M	17.14M	11.35M	2.41M	6.15M	106.02M
Deferred Tax Liabilities	14.51M	13.18M	13.54M	9.42M	6.67M	3.9M	3.98M	3.42M	2.23M	6.42M
Other Non-Current Liabilities	169.78M	184.59M	73.2M	67.29M	77.44M	61.01M	27.9M	22.94M	19.51M	27.24M
Total Liabilities	930.51M	973.02M	980.03M	981.16M	875.32M	855.62M	955.51M	901.49M	821.83M	1.09B
Total Debt+	511.63M	506.17M	450.82M	461.46M	523.81M	489.37M	502.48M	451.88M	437.26M	683.46M
Net Debt	311.44M	358.35M	307.25M	379.77M	457.01M	371.94M	404.38M	292.3M	217.01M	487.49M
Debt / Equity	1.49x	1.77x	1.45x	1.71x	2.19x	2.78x	2.21x	1.18x	0.94x	1.38x
Debt / EBITDA	11.28x	13.80x	10.22x	4.69x	20.19x	25.35x	3.80x	1.82x	2.29x	7.28x
Net Debt / EBITDA	6.87x	9.77x	6.96x	3.86x	17.62x	19.27x	3.06x	1.18x	1.14x	5.19x
Interest Coverage	-0.71x	-0.66x	-0.44x	1.39x	-0.86x	-1.16x	2.64x	6.40x	7.92x	0.91x
Total Equity+	344.31M	286M	310.08M	270.1M	238.99M	176.26M	227.17M	383.14M	467.42M	493.66M
Equity Growth %	-0.35%	-0.17%	0.08%	-0.13%	-0.12%	-0.26%	0.29%	0.69%	0.22%	0.06%
Book Value per Share	6.41	5.30	5.23	4.51	3.98	2.90	3.62	6.02	7.42	7.19
Total Shareholders' Equity	344.68M	289.93M	320.93M	279.05M	234.85M	179.26M	229.3M	381.24M	467.06M	496.07M
Common Stock	0	0	0	0	0	0	0	0	0	0
Retained Earnings	49.3M	14.27M	-44.02M	-29.05M	-74.33M	-135.03M	-85.44M	90.86M	169.62M	164.06M
Treasury Stock	-12.42M	-10.12M	-8.61M	-7.83M	-4.23M	-1.2M	-1.12M	-23.42M	-52.59M	-122.34M
Accumulated OCI	-187.75M	-188.28M	-157.08M	-203.57M	-218.65M	-217.25M	-246.48M	-251.75M	-219.04M	-285.88M
Minority Interest	-376K	-3.94M	-10.85M	-8.95M	4.14M	-3M	-2.13M	1.9M	355K	-2.42M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	63.93M	43.5M	-1.29M	-36.18M	45.44M	57.23M	10.73M	160.68M	179.35M	141.49M
Operating CF Margin %	0.05%	0.03%	-0%	-0.02%	0.03%	0.05%	0.01%	0.07%	0.1%	0.08%
Operating CF Growth %	-0.44%	-0.32%	-1.03%	-27.07%	2.26%	0.26%	-0.81%	13.98%	0.12%	-0.21%
Net Income	-90.29M	-36.14M	-64.08M	13.04M	-51.52M	-65.08M	49.89M	179.19M	83.71M	-3.59M
Depreciation & Amortization	69.62M	59.77M	58.44M	57.62M	54.38M	54.66M	47.99M	42.75M	42.43M	60.7M
Stock-Based Compensation	2.33M	1.99M	1.54M	1.13M	1.38M	2.46M	3.44M	4.28M	5.24M	5.4M
Deferred Taxes	27.97M	-680K	785K	-2.29M	-2.3M	-3.01M	-14.18M	-55.43M	-2.08M	-6.36M
Other Non-Cash Items	12.64M	10.25M	34.36M	3.71M	-8.28M	21.7M	7.76M	14.96M	17.77M	-3.14M
Working Capital Changes	41.65M	8.3M	-32.34M	-109.39M	51.78M	46.49M	-84.17M	-25.07M	32.29M	88.47M
Change in Receivables	497K	4.01M	-38.48M	-36.09M	56.83M	-15.24M	-74.74M	-27.2M	42.87M	73.83M
Change in Inventory	31.33M	4.37M	-55.56M	-77.92M	63.65M	37.75M	-112.85M	-19.6M	31.64M	51.48M
Change in Payables	1.4M	20.95M	37.58M	29.36M	-53.18M	11.94M	121.19M	-7.75M	-62.73M	-29.17M
Cash from Investing+	-49.94M	-89.73M	18.37M	-36.93M	-92.59M	33.22M	-37.6M	-36.75M	-56.92M	-201.6M
Capital Expenditures	-48.43M	-41.95M	-32.63M	-39M	-36.41M	-21.68M	-38.8M	-46.97M	-60.8M	-65.62M
CapEx % of Revenue	0.03%	0.03%	0.02%	0.02%	0.03%	0.02%	0.02%	0.02%	0.03%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.51M	2.22M	993K	2.07M	-39.89M	22.05M	1.2M	930K	1.79M	5.88M
Cash from Financing+	-726K	-6.43M	-24.08M	17.54M	32.12M	-38.56M	13.95M	-61.31M	-56.02M	64.55M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-1.08M	-1.08M	-1.17M	-1.2M	-1.2M	-603K	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	145K	0	0	0	0	-3.21M	-1.02M	-511K	-2.5M	-4.34M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	15.5M	1.55M	-33.91M	-75.18M	9.03M	35.55M	-28.08M	113.7M	118.55M	75.86M
FCF Margin %	0.01%	0%	-0.02%	-0.05%	0.01%	0.03%	-0.02%	0.05%	0.07%	0.04%
FCF Growth %	-0.72%	-0.9%	-22.85%	-1.22%	1.12%	2.94%	-1.79%	5.05%	0.04%	-0.36%
FCF per Share	0.29	0.03	-0.57	-1.25	0.15	0.58	-0.45	1.79	1.88	1.10
FCF Conversion (FCF/Net Income)	-0.85x	-1.28x	0.02x	-2.25x	-0.94x	-0.95x	0.22x	0.91x	2.28x	-25.45x
Interest Paid	34.07M	34.38M	38.16M	30.8M	32.5M	29.23M	34.58M	31.6M	30.27M	37.18M
Taxes Paid	195K	5.46M	4.59M	12.44M	10.42M	12.36M	16.26M	24.11M	21.8M	20.36M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-17.25%	-10.78%	-20.15%	5.55%	-19.02%	-29.08%	24.58%	57.77%	18.52%	-1.16%
Return on Invested Capital (ROIC)	-2.41%	-2.46%	-1.57%	5%	-3.17%	-4.26%	10.83%	23.62%	16.41%	2.99%
Gross Margin	9.88%	11.26%	10.78%	12.37%	8.91%	9.08%	13.34%	16.63%	16.79%	13.97%
Net Margin	-5.42%	-2.69%	-4.09%	1%	-3.34%	-4.8%	2.79%	8.13%	4.32%	-0.3%
Debt / Equity	1.49x	1.77x	1.45x	1.71x	2.19x	2.78x	2.21x	1.18x	0.94x	1.38x
Interest Coverage	-0.71x	-0.66x	-0.44x	1.39x	-0.86x	-1.16x	2.64x	6.40x	7.92x	0.91x
FCF Conversion	-0.85x	-1.28x	0.02x	-2.25x	-0.94x	-0.95x	0.22x	0.91x	2.28x	-25.45x
Revenue Growth	-26.42%	-9.27%	16.07%	9.09%	-9.59%	-13.07%	41.36%	21.86%	-16.02%	1.32%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Agricultural	723.72M	583.32M	690.24M	694.27M	652.56M	634.65M	949.4M	1.19B	980.54M	-
Agricultural Growth	-	-19.40%	18.33%	0.58%	-6.01%	-2.74%	49.59%	25.58%	-17.76%	-
Earthmoving/construction	505.93M	524.29M	608.89M	741.73M	648.75M	510.15M	693.35M	807.36M	687.76M	-
Earthmoving/construction Growth	-	3.63%	16.14%	21.82%	-12.54%	-21.36%	35.91%	16.44%	-14.81%	-
Consumer	165.13M	157.88M	169.79M	166.41M	147.35M	114.51M	137.47M	169.78M	153.5M	-
Consumer Growth	-	-4.39%	7.54%	-1.99%	-11.45%	-22.29%	20.05%	23.51%	-9.59%	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	702.86M	558.28M	642.74M	711.89M	672.56M	583.4M	835.99M	1.07B	814.68M	935.72M
UNITED STATES Growth	-	-20.57%	15.13%	10.76%	-5.52%	-13.26%	43.30%	28.56%	-24.20%	14.86%
Europe	-	354.12M	411.57M	469.32M	400.06M	343.45M	479.72M	577.88M	558.68M	462.07M
Europe Growth	-	-	16.22%	14.03%	-14.76%	-14.15%	39.68%	20.46%	-3.32%	-17.29%
Latin America	-	248.02M	282.69M	271.37M	254.38M	218.26M	318.88M	422.44M	354.98M	292.83M
Latin America Growth	-	-	13.98%	-4.00%	-6.26%	-14.20%	46.10%	32.48%	-15.97%	-17.51%
Other Countries	486.85M	105.08M	131.92M	149.82M	121.68M	114.2M	145.63M	94.35M	-	155.32M
Other Countries Growth	-	-78.42%	25.54%	13.58%	-18.79%	-6.14%	27.52%	-35.21%	-	-
BRAZIL	205.07M	-	-	-	-	-	-	-	-	-
BRAZIL Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Titan International, Inc. (TWI) reported $1.80B in revenue for fiscal year 2024. This represents a 21% increase from $1.49B in 2011.

Titan International, Inc. (TWI) grew revenue by 1.3% over the past year. Growth has been modest.

Titan International, Inc. (TWI) reported a net loss of $6.1M for fiscal year 2024.

Dividend & Returns

Titan International, Inc. (TWI) has a return on equity (ROE) of -1.2%. Negative ROE indicates the company is unprofitable.

Titan International, Inc. (TWI) had negative free cash flow of $24.1M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Titan International, Inc. (TWI) 10-Year Financial Performance & Capital Metrics

TWI • • Industrial / General

IndustrialsAgricultural MachinerySpecialized Agricultural EquipmentSpecialized Farm Equipment

Revenue $1.85B +1.3%
EBITDA $94M -50.9%
Net Income -$6M -107.1%
EPS (Diluted) -0.08 -106.5%
Gross Margin 13.97% -16.8%
EBITDA Margin 5.09% -51.5%
Operating Margin 1.8% -78.0%
Net Margin -0.3% -107.0%
ROE -1.16% -106.2%
ROIC 2.99% -81.8%
Debt/Equity 1.38 +48.0%
Interest Coverage 0.91 -88.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 25.0%
✓Trading at only 1.3x book value
✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

✗Weak Piotroski F-Score: 2/9

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-0.26%

5Y4.97%

3Y1.22%

TTM-2.75%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM35.37%

EPS CAGR

10Y-

5Y-

3Y-

TTM17.16%

ROCE

10Y Avg4.88%

5Y Avg10.69%

3Y Avg15.43%

Latest3.14%

Peer Comparison

Specialized Farm Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ARTWArt's-Way Manufacturing Co., Inc.	12.1M	2.37	38.98	-19.09%	10.43%	18.06%	15.72%	0.40
ALGAlamo Group Inc.	2.34B	193.05	20.05	-3.62%	7.2%	10.27%	7.9%	0.22
LNNLindsay Corporation	1.32B	126.39	18.64	11.41%	11.02%	14.17%	6.84%	0.26
TWITitan International, Inc.	596.67M	9.33	-115.19	1.32%	-0.34%	-1.06%	12.71%	1.38

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.39B	1.27B	1.47B	1.6B	1.45B	1.26B	1.78B	2.17B	1.82B	1.85B
Revenue Growth %	-0.26%	-0.09%	0.16%	0.09%	-0.1%	-0.13%	0.41%	0.22%	-0.16%	0.01%
Cost of Goods Sold+	1.26B	1.12B	1.31B	1.4B	1.32B	1.14B	1.54B	1.81B	1.52B	1.59B
COGS % of Revenue	0.9%	0.89%	0.89%	0.88%	0.91%	0.91%	0.87%	0.83%	0.83%	0.86%
Gross Profit+	137.81M	142.48M	158.28M	198.27M	129M	114.32M	237.54M	360.71M	305.85M	257.8M
Gross Margin %	0.1%	0.11%	0.11%	0.12%	0.09%	0.09%	0.13%	0.17%	0.17%	0.14%
Gross Profit Growth %	-0.02%	0.03%	0.11%	0.25%	-0.35%	-0.11%	1.08%	0.52%	-0.15%	-0.16%
Operating Expenses+	162.09M	163.81M	171.46M	156.02M	157.44M	149.67M	152.37M	154.91M	157.12M	224.62M
OpEx % of Revenue	0.12%	0.13%	0.12%	0.1%	0.11%	0.12%	0.09%	0.07%	0.09%	0.12%
Selling, General & Admin	140.39M	144.99M	150.68M	134.79M	137.7M	130.94M	131.77M	132.79M	134.94M	191.79M
SG&A % of Revenue	0.1%	0.11%	0.1%	0.08%	0.1%	0.1%	0.07%	0.06%	0.07%	0.1%
Research & Development	11.16M	9.97M	10.3M	11.15M	9.86M	9.01M	10.1M	10.4M	12.54M	16.52M
R&D % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0.01%	0.01%
Other Operating Expenses	11.06M	12.47M	11.14M	19.2M	9.88M	9.71M	10.49M	11.71M	9.64M	16.3M
Operating Income+	-24.28M	-21.33M	-13.18M	42.24M	-28.43M	-35.35M	85.17M	205.8M	148.73M	33.18M
Operating Margin %	-0.02%	-0.02%	-0.01%	0.03%	-0.02%	-0.03%	0.05%	0.09%	0.08%	0.02%
Operating Income Growth %	0.75%	0.12%	0.38%	4.2%	-1.67%	-0.24%	3.41%	1.42%	-0.28%	-0.78%
EBITDA+	45.34M	36.67M	44.12M	98.44M	25.94M	19.3M	132.18M	247.7M	191.16M	93.89M
EBITDA Margin %	0.03%	0.03%	0.03%	0.06%	0.02%	0.02%	0.07%	0.11%	0.1%	0.05%
EBITDA Growth %	6.08%	-0.19%	0.2%	1.23%	-0.74%	-0.26%	5.85%	0.87%	-0.23%	-0.51%
D&A (Non-Cash Add-back)	69.62M	58M	57.3M	56.2M	54.38M	54.66M	47M	41.9M	42.43M	60.7M
EBIT	-17.97M	-3.94M	-22.65M	50.26M	-16.04M	-27.58M	83.26M	232.15M	128.53M	44.7M
Net Interest Income+	-31.36M	-29.33M	-26.87M	-28.35M	-32M	-30.55M	-32.22M	-29.8M	-18.79M	-25.41M
Interest Income	2.67M	3.21M	3.36M	2.11M	1.13M	0	0	2.35M	0	11.02M
Interest Expense	34.03M	32.54M	30.23M	30.46M	33.14M	30.55M	32.22M	32.15M	18.79M	36.43M
Other Income/Expense	-27.73M	-14.07M	-39.69M	-22.44M	-19.61M	-22.78M	-34.13M	-3.45M	-38.98M	-24.91M
Pretax Income+	-52.01M	-32.86M	-52.88M	19.81M	-48.04M	-58.13M	51.04M	202.35M	109.75M	8.27M
Pretax Margin %	-0.04%	-0.03%	-0.04%	0.01%	-0.03%	-0.05%	0.03%	0.09%	0.06%	0%
Income Tax+	38.28M	3.28M	11.2M	6.76M	3.48M	6.95M	1.15M	23.17M	26.04M	11.86M
Effective Tax Rate %	1.45%	1.03%	1.14%	0.81%	1.01%	1.04%	0.97%	0.87%	0.72%	-0.67%
Net Income+	-75.63M	-33.99M	-60.04M	16.09M	-48.42M	-60.39M	49.59M	176.3M	78.76M	-5.56M
Net Margin %	-0.05%	-0.03%	-0.04%	0.01%	-0.03%	-0.05%	0.03%	0.08%	0.04%	-0%
Net Income Growth %	0.06%	0.55%	-0.77%	1.27%	-4.01%	-0.25%	1.82%	2.56%	-0.55%	-1.07%
Net Income (Continuing)	-89.83M	-39.76M	-64.08M	13.04M	-51.52M	-65.08M	49.89M	179.19M	83.71M	-3.59M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-376K	-3.94M	-10.85M	-8.95M	4.14M	-3M	-2.13M	1.9M	355K	-2.42M
EPS (Diluted)+	-1.41	-0.63	-1.01	0.27	-0.86	-1.07	0.79	2.77	1.25	-0.08
EPS Growth %	0.06%	0.55%	-0.6%	1.27%	-4.19%	-0.24%	1.74%	2.51%	-0.55%	-1.06%
EPS (Basic)	-1.41	-0.63	-1.01	0.27	-0.86	-1.07	0.80	2.80	1.26	-0.08
Diluted Shares Outstanding	53.7M	53.92M	59.34M	59.91M	60.1M	60.82M	62.69M	63.69M	62.96M	68.66M
Basic Shares Outstanding	53.67M	53.92M	59.32M	59.82M	60.1M	60.82M	62.1M	63.04M	62.45M	68.66M
Dividend Payout Ratio	-	-	-	0.07%	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	710M	726.24M	783.19M	779.48M	651.47M	658.6M	813.3M	909.63M	876.78M	912.04M
Cash & Short-Term Investments	200.19M	197.83M	143.57M	81.69M	66.8M	117.43M	98.11M	159.58M	220.25M	195.97M
Cash Only	200.19M	147.83M	143.57M	81.69M	66.8M	117.43M	98.11M	159.58M	220.25M	195.97M
Short-Term Investments	0	50M	0	0	0	0	0	0	0	0
Accounts Receivable	180.56M	180.28M	227.38M	242.89M	201.29M	204.67M	279.65M	305.94M	234.4M	221.8M
Days Sales Outstanding	47.25	52	56.5	55.33	50.72	59.32	57.34	51.47	46.96	43.86
Inventory	269.79M	269.29M	339.84M	395.74M	333.36M	293.68M	392.62M	397.22M	365.16M	437.19M
Days Inventory Outstanding	78.34	87.52	94.64	102.87	92.2	93.62	92.89	80.16	87.92	100.48
Other Current Assets	32.96M	44.16M	34.35M	7.02M	35.29M	26.43M	25.59M	23.84M	8.24M	32.03M
Total Non-Current Assets+	565.19M	536.72M	506.92M	471.77M	462.84M	373.29M	369.38M	375M	412.46M	672.92M
Property, Plant & Equipment	450.02M	437.2M	421.25M	384.87M	391.51M	344.21M	322.05M	305.54M	333.65M	538.25M
Fixed Asset Turnover	3.10x	2.89x	3.49x	4.16x	3.70x	3.66x	5.53x	7.10x	5.46x	3.43x
Goodwill	0	0	0	0	0	0	0	0	0	29.56M
Intangible Assets	17.8M	20.21M	15.97M	19.36M	20.57M	12.77M	8.2M	7.08M	7.27M	15.44M
Long-Term Investments	52.03M	53.58M	51.9M	51.22M	38.95M	5.6M	6.52M	6.95M	7.13M	7.92M
Other Non-Current Assets	39.37M	21.06M	14.02M	13.46M	9.47M	8.12M	15.77M	16.7M	26.39M	40.02M
Total Assets+	1.28B	1.26B	1.29B	1.25B	1.11B	1.03B	1.18B	1.28B	1.29B	1.58B
Asset Turnover	1.09x	1.00x	1.14x	1.28x	1.30x	1.22x	1.51x	1.69x	1.41x	1.16x
Asset Growth %	-0.15%	-0.01%	0.02%	-0.03%	-0.11%	-0.07%	0.15%	0.09%	0%	0.23%
Total Current Liabilities+	270.1M	366.1M	372.92M	375.07M	327.15M	329.71M	450.81M	446.16M	372.38M	387.36M
Accounts Payable	123.15M	148.25M	195.5M	212.13M	158.65M	167.21M	278.1M	263.38M	201.2M	219.59M
Days Payables Outstanding	35.76	48.19	54.44	55.14	43.88	53.3	65.8	53.15	48.44	50.47
Short-Term Debt	31.22M	97.41M	43.65M	51.88M	61.25M	31.12M	32.5M	30.86M	16.91M	12.48M
Deferred Revenue (Current)	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	81.95M	82.61M	74.95M	75.03M	54.83M	86.43M	91.84M	85.17M	91.36M	86.61M
Current Ratio	2.63x	1.98x	2.10x	2.08x	1.99x	2.00x	1.80x	2.04x	2.35x	2.35x
Quick Ratio	1.63x	1.25x	1.19x	1.02x	0.97x	1.11x	0.93x	1.15x	1.37x	1.23x
Cash Conversion Cycle	89.83	91.34	96.7	103.05	99.04	99.64	84.43	78.49	86.44	93.87
Total Non-Current Liabilities+	660.41M	606.91M	607.11M	606.09M	548.17M	525.91M	504.7M	455.33M	449.45M	703.94M
Long-Term Debt	475.44M	408.76M	407.17M	409.57M	438.47M	433.58M	452.45M	414.76M	409.18M	552.97M
Capital Lease Obligations	675K	384K	0	0	17.36M	17.14M	11.35M	2.41M	6.15M	106.02M
Deferred Tax Liabilities	14.51M	13.18M	13.54M	9.42M	6.67M	3.9M	3.98M	3.42M	2.23M	6.42M
Other Non-Current Liabilities	169.78M	184.59M	73.2M	67.29M	77.44M	61.01M	27.9M	22.94M	19.51M	27.24M
Total Liabilities	930.51M	973.02M	980.03M	981.16M	875.32M	855.62M	955.51M	901.49M	821.83M	1.09B
Total Debt+	511.63M	506.17M	450.82M	461.46M	523.81M	489.37M	502.48M	451.88M	437.26M	683.46M
Net Debt	311.44M	358.35M	307.25M	379.77M	457.01M	371.94M	404.38M	292.3M	217.01M	487.49M
Debt / Equity	1.49x	1.77x	1.45x	1.71x	2.19x	2.78x	2.21x	1.18x	0.94x	1.38x
Debt / EBITDA	11.28x	13.80x	10.22x	4.69x	20.19x	25.35x	3.80x	1.82x	2.29x	7.28x
Net Debt / EBITDA	6.87x	9.77x	6.96x	3.86x	17.62x	19.27x	3.06x	1.18x	1.14x	5.19x
Interest Coverage	-0.71x	-0.66x	-0.44x	1.39x	-0.86x	-1.16x	2.64x	6.40x	7.92x	0.91x
Total Equity+	344.31M	286M	310.08M	270.1M	238.99M	176.26M	227.17M	383.14M	467.42M	493.66M
Equity Growth %	-0.35%	-0.17%	0.08%	-0.13%	-0.12%	-0.26%	0.29%	0.69%	0.22%	0.06%
Book Value per Share	6.41	5.30	5.23	4.51	3.98	2.90	3.62	6.02	7.42	7.19
Total Shareholders' Equity	344.68M	289.93M	320.93M	279.05M	234.85M	179.26M	229.3M	381.24M	467.06M	496.07M
Common Stock	0	0	0	0	0	0	0	0	0	0
Retained Earnings	49.3M	14.27M	-44.02M	-29.05M	-74.33M	-135.03M	-85.44M	90.86M	169.62M	164.06M
Treasury Stock	-12.42M	-10.12M	-8.61M	-7.83M	-4.23M	-1.2M	-1.12M	-23.42M	-52.59M	-122.34M
Accumulated OCI	-187.75M	-188.28M	-157.08M	-203.57M	-218.65M	-217.25M	-246.48M	-251.75M	-219.04M	-285.88M
Minority Interest	-376K	-3.94M	-10.85M	-8.95M	4.14M	-3M	-2.13M	1.9M	355K	-2.42M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	63.93M	43.5M	-1.29M	-36.18M	45.44M	57.23M	10.73M	160.68M	179.35M	141.49M
Operating CF Margin %	0.05%	0.03%	-0%	-0.02%	0.03%	0.05%	0.01%	0.07%	0.1%	0.08%
Operating CF Growth %	-0.44%	-0.32%	-1.03%	-27.07%	2.26%	0.26%	-0.81%	13.98%	0.12%	-0.21%
Net Income	-90.29M	-36.14M	-64.08M	13.04M	-51.52M	-65.08M	49.89M	179.19M	83.71M	-3.59M
Depreciation & Amortization	69.62M	59.77M	58.44M	57.62M	54.38M	54.66M	47.99M	42.75M	42.43M	60.7M
Stock-Based Compensation	2.33M	1.99M	1.54M	1.13M	1.38M	2.46M	3.44M	4.28M	5.24M	5.4M
Deferred Taxes	27.97M	-680K	785K	-2.29M	-2.3M	-3.01M	-14.18M	-55.43M	-2.08M	-6.36M
Other Non-Cash Items	12.64M	10.25M	34.36M	3.71M	-8.28M	21.7M	7.76M	14.96M	17.77M	-3.14M
Working Capital Changes	41.65M	8.3M	-32.34M	-109.39M	51.78M	46.49M	-84.17M	-25.07M	32.29M	88.47M
Change in Receivables	497K	4.01M	-38.48M	-36.09M	56.83M	-15.24M	-74.74M	-27.2M	42.87M	73.83M
Change in Inventory	31.33M	4.37M	-55.56M	-77.92M	63.65M	37.75M	-112.85M	-19.6M	31.64M	51.48M
Change in Payables	1.4M	20.95M	37.58M	29.36M	-53.18M	11.94M	121.19M	-7.75M	-62.73M	-29.17M
Cash from Investing+	-49.94M	-89.73M	18.37M	-36.93M	-92.59M	33.22M	-37.6M	-36.75M	-56.92M	-201.6M
Capital Expenditures	-48.43M	-41.95M	-32.63M	-39M	-36.41M	-21.68M	-38.8M	-46.97M	-60.8M	-65.62M
CapEx % of Revenue	0.03%	0.03%	0.02%	0.02%	0.03%	0.02%	0.02%	0.02%	0.03%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.51M	2.22M	993K	2.07M	-39.89M	22.05M	1.2M	930K	1.79M	5.88M
Cash from Financing+	-726K	-6.43M	-24.08M	17.54M	32.12M	-38.56M	13.95M	-61.31M	-56.02M	64.55M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-1.08M	-1.08M	-1.17M	-1.2M	-1.2M	-603K	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	145K	0	0	0	0	-3.21M	-1.02M	-511K	-2.5M	-4.34M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	15.5M	1.55M	-33.91M	-75.18M	9.03M	35.55M	-28.08M	113.7M	118.55M	75.86M
FCF Margin %	0.01%	0%	-0.02%	-0.05%	0.01%	0.03%	-0.02%	0.05%	0.07%	0.04%
FCF Growth %	-0.72%	-0.9%	-22.85%	-1.22%	1.12%	2.94%	-1.79%	5.05%	0.04%	-0.36%
FCF per Share	0.29	0.03	-0.57	-1.25	0.15	0.58	-0.45	1.79	1.88	1.10
FCF Conversion (FCF/Net Income)	-0.85x	-1.28x	0.02x	-2.25x	-0.94x	-0.95x	0.22x	0.91x	2.28x	-25.45x
Interest Paid	34.07M	34.38M	38.16M	30.8M	32.5M	29.23M	34.58M	31.6M	30.27M	37.18M
Taxes Paid	195K	5.46M	4.59M	12.44M	10.42M	12.36M	16.26M	24.11M	21.8M	20.36M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-17.25%	-10.78%	-20.15%	5.55%	-19.02%	-29.08%	24.58%	57.77%	18.52%	-1.16%
Return on Invested Capital (ROIC)	-2.41%	-2.46%	-1.57%	5%	-3.17%	-4.26%	10.83%	23.62%	16.41%	2.99%
Gross Margin	9.88%	11.26%	10.78%	12.37%	8.91%	9.08%	13.34%	16.63%	16.79%	13.97%
Net Margin	-5.42%	-2.69%	-4.09%	1%	-3.34%	-4.8%	2.79%	8.13%	4.32%	-0.3%
Debt / Equity	1.49x	1.77x	1.45x	1.71x	2.19x	2.78x	2.21x	1.18x	0.94x	1.38x
Interest Coverage	-0.71x	-0.66x	-0.44x	1.39x	-0.86x	-1.16x	2.64x	6.40x	7.92x	0.91x
FCF Conversion	-0.85x	-1.28x	0.02x	-2.25x	-0.94x	-0.95x	0.22x	0.91x	2.28x	-25.45x
Revenue Growth	-26.42%	-9.27%	16.07%	9.09%	-9.59%	-13.07%	41.36%	21.86%	-16.02%	1.32%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Agricultural	723.72M	583.32M	690.24M	694.27M	652.56M	634.65M	949.4M	1.19B	980.54M	-
Agricultural Growth	-	-19.40%	18.33%	0.58%	-6.01%	-2.74%	49.59%	25.58%	-17.76%	-
Earthmoving/construction	505.93M	524.29M	608.89M	741.73M	648.75M	510.15M	693.35M	807.36M	687.76M	-
Earthmoving/construction Growth	-	3.63%	16.14%	21.82%	-12.54%	-21.36%	35.91%	16.44%	-14.81%	-
Consumer	165.13M	157.88M	169.79M	166.41M	147.35M	114.51M	137.47M	169.78M	153.5M	-
Consumer Growth	-	-4.39%	7.54%	-1.99%	-11.45%	-22.29%	20.05%	23.51%	-9.59%	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	702.86M	558.28M	642.74M	711.89M	672.56M	583.4M	835.99M	1.07B	814.68M	935.72M
UNITED STATES Growth	-	-20.57%	15.13%	10.76%	-5.52%	-13.26%	43.30%	28.56%	-24.20%	14.86%
Europe	-	354.12M	411.57M	469.32M	400.06M	343.45M	479.72M	577.88M	558.68M	462.07M
Europe Growth	-	-	16.22%	14.03%	-14.76%	-14.15%	39.68%	20.46%	-3.32%	-17.29%
Latin America	-	248.02M	282.69M	271.37M	254.38M	218.26M	318.88M	422.44M	354.98M	292.83M
Latin America Growth	-	-	13.98%	-4.00%	-6.26%	-14.20%	46.10%	32.48%	-15.97%	-17.51%
Other Countries	486.85M	105.08M	131.92M	149.82M	121.68M	114.2M	145.63M	94.35M	-	155.32M
Other Countries Growth	-	-78.42%	25.54%	13.58%	-18.79%	-6.14%	27.52%	-35.21%	-	-
BRAZIL	205.07M	-	-	-	-	-	-	-	-	-
BRAZIL Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Titan International, Inc. (TWI) reported $1.80B in revenue for fiscal year 2024. This represents a 21% increase from $1.49B in 2011.

Titan International, Inc. (TWI) grew revenue by 1.3% over the past year. Growth has been modest.

Titan International, Inc. (TWI) reported a net loss of $6.1M for fiscal year 2024.

Dividend & Returns

Titan International, Inc. (TWI) has a return on equity (ROE) of -1.2%. Negative ROE indicates the company is unprofitable.

Titan International, Inc. (TWI) had negative free cash flow of $24.1M in fiscal year 2024, likely due to heavy capital investments.