CNH Industrial vs Lindsay
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The short version
- CNH Industrial is the larger business, with $18.1B of revenue in fiscal 2025 against $636M for Lindsay, about 28 times as much.
- Lindsay grew revenue faster (−6.0%, against −8.8%).
- Lindsay earned a higher return on the capital invested in it (11.9%, against 4.6%).
| Latest fiscal year | CNH · FY25 | LNN · FY26 |
|---|---|---|
| Size | ||
| Market cap | $14.3B | $1.1B |
| Revenue | $18.1B | $636M |
| Free cash flow | — | $34.8M |
| Net income | $510M | $55.7M |
| Growth | ||
| Revenue growth | −8.8% | −6.0% |
| 5-year growth | 4.1% | 2.3% |
| Share count change | −0.7% | −4.4% |
| Profitability | ||
| Gross margin | 31.5% | 28.9% |
| Operating margin | — | 10.5% |
| Net margin | 2.8% | 8.8% |
| FCF margin | — | 5.5% |
| Return on capital | 4.6% | 11.9% |
| Return on equity | 6.6% | 10.7% |
| Balance sheet | ||
| Net debt | $24.2B | −$74.8M |
| Net debt / EBITDA | 9.6x | −0.8x |
| Dividends and buybacks | $333M | $96.1M |
| Valuation & quality | ||
| P/E | 46.0x | — |
| Piotroski F-score | — | 5 |
Revenue
FY17
CNH $27.7B
LNN $518M
FY18
CNH $29.7B
LNN $548M
FY19
CNH $28.1B
LNN $444M
FY20
CNH $14.8B
LNN $475M
FY21
CNH $19.5B
LNN $568M
FY22
CNH $23.6B
LNN $771M
FY23
CNH $24.7B
LNN $674M
FY24
CNH $19.8B
LNN $607M
FY25
CNH $18.1B
LNN $676M
FY26
CNH —
LNN $636M
CNH
LNN
Operating margin
FY17
CNH 6.0%
LNN 7.9%
FY18
CNH —
LNN 7.1%
FY19
CNH —
LNN 1.4%
FY20
CNH —
LNN 11.4%
FY21
CNH —
LNN 9.5%
FY22
CNH —
LNN 12.3%
FY23
CNH —
LNN 15.2%
FY24
CNH —
LNN 12.6%
FY25
CNH —
LNN 13.0%
FY26
CNH —
LNN 10.5%
CNH
LNN
Free cash flow
FY17
CNH —
LNN $30.6M
FY18
CNH —
LNN $22.9M
FY19
CNH —
LNN −$19.4M
FY20
CNH —
LNN $24.6M
FY21
CNH —
LNN $17.5M
FY22
CNH —
LNN −$12.6M
FY23
CNH —
LNN $101M
FY24
CNH —
LNN $66.8M
FY25
CNH —
LNN $90.4M
FY26
CNH —
LNN $34.8M
CNH
LNN
Return on capital
FY17
CNH 3.4%
LNN 9.9%
FY18
CNH 6.6%
LNN 9.4%
FY19
CNH 7.8%
LNN 2.5%
FY20
CNH 1.6%
LNN 16.1%
FY21
CNH 9.8%
LNN 15.7%
FY22
CNH 10.2%
LNN 20.1%
FY23
CNH 11.2%
LNN 18.5%
FY24
CNH 7.5%
LNN 15.8%
FY25
CNH 4.6%
LNN 17.2%
FY26
CNH —
LNN 11.9%
CNH
LNN
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.