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Terex

TEX NYSE Construction Machinery & Heavy Transportation Equipment Financials FY2016–FY2025

Terex's revenue rose 5.7% to $5.4 billion in fiscal 2025. Its operating margin was 8.8%, down from 10.3% a year earlier. Free cash flow was $322 million, up 70.4%. It paid out $101 million in dividends and buybacks, 31% of free cash flow. The diluted share count fell 1.9%.

Last close · Oct 23, 2026

$51.29

1.6%
Value it Compare
Revenue Total sales reported in the income statement.
$5.4B
5.7% vs prior year
Operating margin Operating income as a share of revenue.
8.8%
1.5 pts
Net income Profit after all expenses, interest and tax.
$221M
34.0%
Free cash flow Cash from operations minus capital spending.
$322M
70.4%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
9.0%
5.5 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$5.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Terex does

No business description yet.

Legal name
Terex Corporation
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0000097216-26-000035
0000097216

Revenue and margins

Terex had $5.4B of revenue in fiscal 2025, up 5.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $322M in fiscal 2025, 5.9% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Terex returned $101M to shareholders in fiscal 2025, 31% of free cash flow. The diluted share count fell 1.9%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Terex yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of −$1.8B and divides by 66.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

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Reference multiples: today — · peers 16.7x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Terex can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $267M$304M$371M$388M$772M
Debt incl. finance leases $674M$782M$610M$2.6B$2.6B
Net debt / EBITDA 1.1x1.0x0.3x3.7x2.9x
Debt / equity 0.6x0.7x0.4x1.4x1.2x
Interest coverage 6.4x8.6x10.1x5.9x2.7x
Current ratio 1.9x2.0x2.0x2.2x2.3x
Quick ratio 1.1x1.0x1.0x1.1x1.4x
Total assets $2.9B$3.1B$3.6B$5.7B$6.1B
Total liabilities $1.8B$1.9B$1.9B$3.9B$4.0B
Shareholders' equity $1.1B$1.2B$1.7B$1.8B$2.1B
Net debt (− = net cash) $407M$477M$239M$2.2B$1.8B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.1M

1 insider

Sold, 12 months

$2.4M

4 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Jun 23, 2026 Stephen JohnstonFormer VP CAO and Controller Sold 1,702 $69.92 $0.1M Form 4
Jun 4, 2026 Stephen JohnstonFormer VP CAO and Controller Sold 379 $63.19 $0.0M Form 4
May 4, 2026 Joshua GrossPresident - Aerials Sold 5,874 $61.53 $0.4M Form 4
Feb 17, 2026 Kieran HegartyPresident, Materials Processin Sold 11,980 $69.24 $0.8M Form 4
Feb 12, 2026 Michael Edward VirnigPresident, Specialty Vehicles Sold 16,330 $67.35 $1.1M Form 4
Oct 31, 2025 Andra RushDirector Bought 2,120 $46.59 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✕
Cash from operations exceeds net income ✕ ✕ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose ✓ ✓ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ ✕ ✕
Revenue rose relative to assets ✓ ✕ ✕
F-score 8 / 94 / 96 / 9
Accruals ratio 1.8%0.2%−3.7%
Altman Z'' 5.643.663.84

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Terex TEX $5.9B 5.7% 8.8% 5.9% 9.0% — 6
Allison Transmission ALSN $8.9B −6.7% 29.2% 22.0% 20.8% 16.9x 6 Compare →
Oshkosh OSK $8.3B −2.9% 9.0% 5.9% 14.8% 14.7x 5 Compare →
Wabtec WAB $46.0B 7.5% 16.1% 13.4% 9.1% 33.8x 7 Compare →
GATX GATX $5.9B 9.8% — — 4.0% 16.4x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $4.4B $3.8B $4.5B $4.4B $3.1B $3.9B $4.4B $5.2B $5.1B $5.4B
Gross profit $712M $767M $962M $888M $539M $757M $871M $1.2B $1.1B $1.1B
Research and development $86.2M $55.6M $63.2M $72.4M $58.9M $52.2M $22.0M $28.0M $25.0M $39.0M
Operating income −$142M $228M $413M $335M $68.4M $328M $420M $637M $526M $475M
Interest expense $102M $67.2M $72.8M $87.9M $65.9M $51.5M $49.0M $63.0M $89.0M $177M
Pretax income −$271M $163M $287M $248M $11.0M $264M $367M $580M $408M $292M
Income tax −$77.4M $52.4M $45.4M $37.8M $2.0M $46.3M $67.0M $63.0M $73.0M $71.0M
Net income −$176M $129M $114M $54.4M −$10.6M $221M $300M $518M $335M $221M
Diluted EPS −$1.63 $1.36 $1.48 $0.76 −$0.15 $3.12 $4.32 $7.58 $4.96 $3.33
Diluted shares 0.11B 0.09B 0.08B 0.07B 0.07B 0.07B 0.07B 0.07B 0.07B 0.07B
Cash flow
Cash from operations $377M $153M $94.2M $173M $225M $293M $261M $459M $326M $440M
Capital expenditure $58.1M $31.7M $91.0M $106M $64.5M $59.7M $110M $127M $137M $118M
Free cash flow $319M $121M $3.2M $67.9M $161M $234M $151M $332M $189M $322M
Depreciation and amortization $74.3M $53.0M $45.3M $46.4M $49.7M $50.2M $47.0M $56.0M $82.0M $157M
Stock-based compensation $37.8M $38.5M $36.7M $43.1M $23.8M $33.1M $30.0M $44.0M $30.0M $32.0M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $42.7M $50.0M $24.0M $2.0B $0.0M
Share buybacks $82.7M $925M $428M $7.4M $56.0M $3.0M $101M $63.0M $49.0M $56.0M
Dividends paid $30.0M $29.5M $30.0M $31.4M $8.4M $33.5M $36.0M $43.0M $46.0M $45.0M
Dividends and buybacks $113M $954M $458M $38.8M $64.4M $36.5M $137M $106M $95.0M $101M
Balance sheet
Cash and short-term investments $429M $572M $340M $535M $665M $267M $304M $371M $388M $772M
Total debt $1.6B $982M $1.2B $1.2B $1.2B $671M $777M $601M $2.6B $2.6B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $4.4M $3.5M $4.2M $9.0M $12.0M $11.0M
Current assets $2.7B $2.4B $2.4B $2.0B $1.9B $1.8B $2.0B $2.2B $2.3B $2.7B
Current liabilities $1.4B $1.0B $1.2B $872M $723M $910M $999M $1.1B $1.1B $1.2B
Inventory $854M $970M $919M $848M $610M $814M $988M $1.2B $1.1B $1.1B
Property and equipment, net $305M $311M $317M $389M $407M $430M $466M $570M $714M $760M
Total assets $5.0B $3.5B $3.5B $3.2B $3.0B $2.9B $3.1B $3.6B $5.7B $6.1B
Total liabilities $3.5B $2.2B $2.6B $2.3B $2.1B $1.8B $1.9B $1.9B $3.9B $4.0B
Shareholders' equity $1.5B $1.2B $861M $932M $922M $1.1B $1.2B $1.7B $1.8B $2.1B
Margins
Gross margin 16.0% 20.2% 21.3% 20.4% 17.5% 19.5% 19.7% 22.9% 20.8% 19.4%
Operating margin −3.2% 6.0% 9.1% 7.7% 2.2% 8.4% 9.5% 12.4% 10.3% 8.8%
EBITDA margin −1.5% 7.4% 10.1% 8.8% 3.8% 9.7% 10.6% 13.5% 11.9% 11.7%
Net margin −4.0% 3.4% 2.5% 1.3% −0.3% 5.7% 6.8% 10.1% 6.5% 4.1%
FCF margin 7.2% 3.2% 0.1% 1.6% 5.2% 6.0% 3.4% 6.4% 3.7% 5.9%
Returns
Return on capital −3.7% 7.2% 20.6% 17.2% 3.7% 18.4% 21.6% 31.8% 14.5% 9.0%
Return on capital employed −3.7% 7.6% 17.6% 14.6% 3.0% 15.4% 20.6% 27.6% 14.7% 9.9%
Return on equity −10.5% 9.5% 10.9% 6.1% −1.1% 21.8% 26.2% 36.3% 19.1% 11.3%
Return on assets −3.3% 3.0% 3.3% 1.6% −0.3% 7.5% 10.0% 15.4% 7.2% 3.7%
Growth
Revenue growth −11.5% −14.6% 19.1% −3.6% −29.3% 26.3% 13.7% 16.6% −0.5% 5.7%
Net income growth −220.7% — −11.7% −52.2% −119.5% — 35.8% 72.7% −35.3% −34.0%
EPS growth −222.6% — 8.8% −48.7% −119.7% — 38.5% 75.5% −34.6% −32.9%
FCF growth 118.5% −62.0% −97.4% 2,021.9% 137.0% 45.3% −35.4% 119.9% −43.1% 70.4%
Share count change −1.6% −12.1% −19.0% −6.6% −2.4% 1.1% −2.1% −1.6% −1.0% −1.9%
Financial health
Net debt / EBITDA — 1.5x 1.9x 1.7x 4.3x 1.1x 1.0x 0.3x 3.7x 2.9x
Debt / equity 1.1x 0.8x 1.4x 1.3x 1.3x 0.6x 0.7x 0.4x 1.4x 1.2x
Interest coverage −1.4x 3.4x 5.7x 3.8x 1.0x 6.4x 8.6x 10.1x 5.9x 2.7x
Current ratio 1.9x 2.3x 2.0x 2.3x 2.6x 1.9x 2.0x 2.0x 2.2x 2.3x
Quick ratio 1.3x 1.4x 1.2x 1.3x 1.8x 1.1x 1.0x 1.0x 1.1x 1.4x
Capital allocation
Capex / revenue 1.3% 0.8% 2.0% 2.4% 2.1% 1.5% 2.5% 2.5% 2.7% 2.2%
Stock comp / revenue 0.9% 1.0% 0.8% 1.0% 0.8% 0.9% 0.7% 0.9% 0.6% 0.6%
Payouts / FCF 35.3% 786.8% 14,296.9% 57.1% 40.0% 15.6% 90.7% 31.9% 50.3% 31.4%
Quality scores
Piotroski F-score 4.0 8.0 6.0 5.0 4.0 7.0 7.0 8.0 4.0 6.0
Altman Z'' 3.2 5.5 4.1 4.3 3.9 4.5 4.8 5.6 3.7 3.8
Accruals ratio −10.4% −0.6% 0.6% −3.6% −7.6% −2.5% 1.3% 1.8% 0.2% −3.7%

Source: SEC EDGAR XBRL filings (CIK 0000097216). Data updated October 18, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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