Latest Ratios: P/E Ratio -8.0x · EV/EBITDA 11.6x · ROE -12.5%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $513M | $499M | $466M | $937M | $976M | $687M | $296M | $218M | $279M | $764M | $604M |
| Enterprise Value | $1.0B | $1.0B | $954M | $1.2B | $1.3B | $1.1B | $668M | $675M | $659M | $1.1B | $963M |
| P/E Ratio → | -8.02 | — | — | 11.90 | 5.53 | 13.87 | — | — | 17.26 | — | — |
| P/S Ratio | 0.28 | 0.27 | 0.25 | 0.51 | 0.45 | 0.39 | 0.23 | 0.15 | 0.17 | 0.52 | 0.48 |
| P/B Ratio | 0.98 | 0.96 | 0.94 | 2.00 | 2.55 | 3.02 | 1.68 | 0.91 | 1.03 | 2.46 | 2.11 |
| P/FCF | — | — | 6.15 | 7.90 | 8.58 | — | 8.31 | 24.10 | — | — | 389.43 |
| P/OCF | 17.10 | 16.61 | 3.30 | 5.22 | 6.07 | 64.05 | 5.16 | 4.79 | — | — | 13.89 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.55 | 0.52 | 0.63 | 0.58 | 0.61 | 0.53 | 0.47 | 0.41 | 0.73 | 0.76 |
| EV / EBITDA | 11.62 | 11.46 | 10.16 | 6.04 | 5.12 | 8.26 | 34.58 | 26.00 | 6.69 | 24.29 | 26.26 |
| EV / EBIT | 49.19 | 48.49 | 21.34 | 8.98 | 5.46 | 13.11 | — | — | 13.11 | — | — |
| EV / FCF | — | — | 12.57 | 9.73 | 11.15 | — | 18.78 | 74.72 | — | — | 620.32 |
Margins and return-on-capital ratios measuring operating efficiency
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 | 13.3% | 13.3% | 14.0% | 16.8% | 16.6% | 13.3% | 9.1% | 8.9% | 12.4% | 10.8% | 11.3% |
| Operating Margin | 1.1% | 1.1% | 1.8% | 8.2% | 9.5% | 4.8% | -2.8% | -2.0% | 2.6% | -0.9% | -1.7% |
| Net Profit Margin | -3.5% | -3.5% | -0.3% | 4.3% | 8.1% | 2.8% | -4.8% | -3.3% | 1.0% | -4.1% | -2.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -12.5% | -12.5% | -1.2% | 18.5% | 57.8% | 24.6% | -29.1% | -19.0% | 5.5% | -20.1% | -10.8% |
| ROA | -3.9% | -3.9% | -0.4% | 6.1% | 14.3% | 4.5% | -5.6% | -4.1% | 1.3% | -4.7% | -2.7% |
| ROIC | 1.5% | 1.5% | 3.0% | 16.4% | 23.6% | 10.8% | -4.3% | -3.2% | 5.0% | -1.6% | -2.5% |
| ROCE | 1.7% | 1.7% | 3.1% | 16.9% | 26.2% | 11.9% | -4.7% | -3.4% | 4.7% | -1.5% | -2.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.36 | 1.36 | 1.38 | 0.94 | 1.18 | 2.21 | 2.78 | 2.19 | 1.71 | 1.45 | 1.77 |
| Debt / EBITDA | 8.09 | 8.09 | 7.28 | 2.29 | 1.82 | 3.80 | 25.35 | 20.19 | 4.69 | 10.22 | 13.80 |
| Net Debt / Equity | — | 0.97 | 0.99 | 0.46 | 0.76 | 1.78 | 2.11 | 1.91 | 1.41 | 0.99 | 1.25 |
| Net Debt / EBITDA | 5.78 | 5.78 | 5.19 | 1.14 | 1.18 | 3.06 | 19.27 | 17.62 | 3.86 | 6.96 | 9.77 |
| Debt / FCF | — | — | 6.43 | 1.83 | 2.57 | — | 10.46 | 50.62 | — | — | 230.89 |
| Interest Coverage | 0.54 | 0.54 | 1.23 | 6.84 | 7.22 | 2.58 | -0.90 | -0.48 | 1.65 | -0.75 | -0.12 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.30 | 2.30 | 2.35 | 2.35 | 2.04 | 1.80 | 2.00 | 1.99 | 2.08 | 2.10 | 1.98 |
| Quick Ratio | 1.20 | 1.20 | 1.23 | 1.37 | 1.15 | 0.93 | 1.11 | 0.97 | 1.02 | 1.19 | 1.25 |
| Cash Ratio | 0.47 | 0.47 | 0.51 | 0.59 | 0.36 | 0.22 | 0.36 | 0.20 | 0.22 | 0.38 | 0.54 |
| Asset Turnover | — | 1.09 | 1.16 | 1.41 | 1.69 | 1.51 | 1.22 | 1.30 | 1.28 | 1.14 | 1.00 |
| Inventory Turnover | 3.37 | 3.37 | 3.63 | 4.15 | 4.55 | 3.93 | 3.90 | 3.96 | 3.55 | 3.86 | 4.17 |
| Days Sales Outstanding | — | 47.69 | 43.86 | 46.96 | 51.47 | 57.34 | 59.32 | 50.72 | 55.33 | 56.50 | 52.00 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
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 | — | — | — | — | — | — | 0.2% | 0.6% | 0.4% | 0.2% | 0.2% |
| Payout Ratio | — | — | — | — | — | — | — | — | 7.5% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 8.4% | 18.1% | 7.2% | — | — | 5.8% | — | — |
| FCF Yield | — | — | 16.3% | 12.7% | 11.7% | — | 12.0% | 4.1% | — | — | 0.3% |
| Buyback Yield | 0.0% | 0.0% | 15.9% | 3.5% | 2.6% | 0.0% | 0.4% | 0.5% | 0.2% | 0.1% | 0.1% |
| Total Shareholder Yield | 0.0% | 0.0% | 15.9% | 3.5% | 2.6% | 0.0% | 0.6% | 1.0% | 0.6% | 0.2% | 0.3% |
| Shares Outstanding | — | $64M | $69M | $63M | $64M | $63M | $61M | $60M | $60M | $59M | $54M |
Persistent Negative Net Margins
According to current market data, TWI trades at a negative P/E ratio of -8.02, which, when combined with a P/S ratio of 0.28, suggests that investors are heavily discounting the company's ability to convert its nearly $2 billion revenue base into sustainable bottom-line profitability.
The absence of a forward P/E ratio indicates that the market lacks confidence in near-term earnings recovery, likely due to the company's inability to cover fixed costs. Investors should monitor the EV/EBITDA multiple of 11.62, which appears elevated relative to the company's current operational struggles and suggests that the market is pricing in a significant turnaround that has yet to materialize.
Based on reported figures, TWI's ROIC has struggled to maintain positive momentum, fluctuating between -1.3% and 2.3% over the last ten quarters, which indicates that the company is failing to generate returns on its invested capital that exceed its cost of capital in the current cycle.
The persistent decay in ROE, which reached -4.7% in 2026Q1, highlights the inefficiency of the company's capital base in the face of cyclical agricultural headwinds. This trend suggests that management's heavy investment in manufacturing infrastructure has not yet yielded the competitive advantage necessary to drive meaningful shareholder value creation.
As reported in financial statements, TWI's cash conversion cycle has trended toward 94-118 days over the last ten quarters, reflecting significant inefficiencies in inventory management and a reliance on extended payment terms that constrain the company's ability to generate free cash flow during periods of low demand.
The DIO peaking at 120 days in 2024Q4 suggests that the company is carrying excessive inventory, which ties up critical liquidity and increases the risk of obsolescence. Investors should monitor whether the recent acquisition of the Carlstar Group will improve these turnover metrics or further complicate the company's already strained working capital management.
According to recent SEC filings, TWI's debt-to-equity ratio has climbed to 1.47 as of 2026Q1, a concerning increase from 0.94 in 2023Q4 that indicates a growing reliance on debt financing to sustain operations while the company continues to report recurring net losses.
The debt-to-EBITDA ratio of 25.98 in 2026Q1 is alarmingly high, suggesting that the company's ability to service its debt obligations is severely compromised by its current lack of operating income. This leverage profile warrants further investigation into potential covenant risks and the company's long-term capacity to refinance its existing debt structure.
Based on an analysis of TWI's business model, the P/E ratio is a fundamentally flawed metric for this company, as it obscures the impact of high depreciation and non-recurring charges inherent in its heavy industrial manufacturing operations and cyclical agricultural equipment exposure.
Investors should instead focus on EV/EBITDA or Price-to-Book ratios to better understand the company's valuation relative to its asset base and operational cash flow potential. Relying on P/E in this context leads to misleading conclusions, as it fails to account for the significant capital intensity required to maintain the company's proprietary LSW technology and integrated manufacturing infrastructure.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying TWI stock.
Titan International, Inc.'s current P/E ratio is -8.0x. The historical average is 21.9x.
Titan International, Inc.'s current EV/EBITDA is 11.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.7x.
Titan International, Inc.'s return on equity (ROE) is -12.5%. The historical average is -0.2%.
Based on historical data, Titan International, Inc. is trading at a P/E of -8.0x. Compare with industry peers and growth rates for a complete picture.
Titan International, Inc. has 13.3% gross margin and 1.1% operating margin.
Titan International, Inc.'s Debt/EBITDA ratio is 8.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.