Pricing Log in Create free account
Friday 6 November 2026 Export CNH’s income statement to Excel — free account

CNH Industrial N.V.

CNH Industrials Farm & Heavy Construction Machinery

CNH Industrial N.V.’s revenue for fiscal 2025 (year ended December 2025) was $18.1 billion, down 8.78% from fiscal 2024.

Revenue
+1.95%
EPS
−35.3%
Free cash flow
−124.6%
Total debt
−5.26%

Quarter to June 2026, against a year earlier

11.27 0.44 −3.76%
Market cap
$13.9B
P/E
45.1×
Fwd P/E
27.6×
Dividend yield
0.89%
F-score
4/9
Altman Z
2.00
Beneish M
−2.68
Dividend safety
37/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Insider Decisions last twelve months

Sold, $m 0.49
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — 1 — — — — — —
Insider Ownership 29.97%

Capital & Financial Ratios $m

Size
Market Cap 13,920.00
Revenue ttm 18,185.00
Net income ttm 307.00
Free cash flow ttm 611.00
Net debt Q 23,502.00
Valuation
P/E 45.08 (above 35: high)
Forward P/E 27.60
Price / sales 0.77
Forward P/S Powerpack
Price / FCF 22.84
Price / book 1.79
Financial health
Current ratio Q 12.23 (at or above 1.5: strong)
Debt / equity Q 3.33 (above 2: weak)
Interest coverage Q 1.76
Growth
Revenue growth Q +1.95% (above 0%: growing)
Operating income growth Q −19.80% (below 0%: shrinking)
EPS, this year −19.05% (below 0%: weak)
EPS, next year A +53.06% (at or above 15%: strong)
Revenue, next year A +0.97%
EPS, past 5 yrs —
EPS, next 5 yrs A +19.52% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.1×, against a ten-year median of 1.5×; over the ten years it ranged from 0.9× in 2020 to 2.2× in 2025.
P/E against its own 10 years 91.65%
10-year low 10-year high
P/S against its own 10 years 73.08%
10-year low 10-year high
P/B against its own 10 years 23.03%
10-year low 10-year high
EV/Sales against its own 10 years 91.82%
10-year low 10-year high
EV/FCF against its own 10 years 83.57%
10-year low 10-year high

Dividends

Yield
0.89%
Annual rate
0.10
Payout ratio
40.0%
Growth, 2018–26
−6.64%/yr
  1. 0.17 ’18
  2. 0.20 ’19 +17
  3. 0.00 ’20 −100
  4. 0.13 ’21
  5. 0.30 ’22 +131
  6. 0.39 ’23 +29
  7. 0.47 ’24 +19
  8. 0.25 ’25 −47
  9. 0.10 ’26 −60
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 5,045 3,866 3,229 2,464
Receivables 24,762 23,378 23,526 22,986
Inventory 5,545 4,776 4,651 5,171
Other — — — —
35,352 32,020 31,406 30,621
2023 2024 2025 Q'26
Payables 3,611 2,292 2,247 2,412
ST’ Debt — — — —
Other — — — —
3,792 2,382 2,355 2,504

Compound Annual Growth %

10y 5y 3y
Sales (3.53%) (7.02%) (8.41%)
Cash Flow (0.93%) (14.42%) 65.79%
Earnings 7.26% 0.00% (36.89%)
Book Value 4.84% 9.27% 3.91%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.11 Actual 0.13

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.13 0.08 Miss by 0.05
Q4 FY25 0.11 0.19 Beat by 0.08
Q1 FY26 0.01 0.01 Met by 0.00
Q2 FY26 0.11 0.13 Beat by 0.02
Q3 FY26 0.10 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.01 0.11 — — —
’25 0.10 0.17 0.06 0.07 0.41
’24 0.31 0.34 0.24 0.14 0.99
’23 0.35 0.52 0.42 0.41 1.76
’22 0.24 0.40 0.41 0.43 1.49
’21 0.30 0.51 0.24 0.22 1.27
’20 (0.05) 0.26 (0.70) 0.12 (0.36)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,826 4,803 — — —
’25 3,828 4,711 4,399 5,157 18,095
’24 4,818 5,488 4,654 4,876 19,836
’23 5,342 6,567 5,986 6,792 24,687
’22 4,645 6,082 5,881 6,943 23,551
’21 4,096 5,169 4,746 5,485 19,496
’20 5,461 5,578 6,492 8,501 26,032
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 35 145 — — —
’25 162 772 659 945 2,538
’24 (894) 379 791 1,692 1,968
’23 (701) (139) 232 1,515 907
’22 (887) (271) 272 1,443 557
’21 372 1,049 471 2,190 4,082
’20 (532) 1,067 2,228 2,766 5,529
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (183) (128) — — —
’25 (102) 520 396 526 1,340
’24 (1,096) 162 500 1,216 782
’23 (898) (402) (92) 1,120 (272)
’22 (1,063) (484) 73 1,129 (345)
’21 335 919 104 1,814 3,172
’20 (846) 772 1,850 1,906 3,682
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 20.6% a year for ten years. It grew 2.8% a year over the last ten.

Implied
20.6%
10 years, reported
2.8%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 24,872 27,701 29,706 28,079 26,032 19,496 23,551 24,687 19,836 18,095 18,185 (3.5%) 18,271 19,096 20,777 +4.7%
Gross margin, % 21.44 22.13 22.72 22.25 18.07 27.63 28.68 31.79 32.70 31.53 30.55 +10.1 pt
EBT (9) 659 1,466 1,170 (505) 1,939 2,682 2,703 1,457 620 368 n/m
EBT margin, % (0.04) 2.38 4.94 4.17 (1.94) 9.95 11.39 10.95 7.35 3.43 2.02 +3.5 pt
Net income (249) 290 1,099 1,454 (438) 1,801 2,039 2,287 1,259 505 307 n/m
Per share, $
Per share, $ Revenue 18.26 20.31 21.89 20.77 19.27 14.40 17.43 18.53 15.82 14.50 14.69 (2.5%)
Earnings (0.18) 0.22 0.79 1.05 (0.36) 1.27 1.50 1.78 0.99 0.41 0.25 n/m
Cash flow 1.55 2.10 1.88 1.35 4.09 3.01 0.41 0.68 1.57 2.03 1.44 +3.1%
Capex (1.07) (1.63) (1.40) (1.41) (1.37) (0.67) (0.67) (0.89) (0.95) (0.96) (0.95) (1.2%)
Free cash flow 0.47 0.47 0.49 (0.06) 2.73 2.34 (0.26) (0.20) 0.62 1.07 0.49 +9.5%
Book value 3.27 3.10 3.73 4.53 3.69 5.03 5.13 6.08 6.15 6.23 6.30 +7.4%
Shares, m 1,362 1,364 1,357 1,352 1,351 1,354 1,351 1,332 1,254 1,248 1,244 (1.0%)
Valuation, ×
Valuation, × P/E 0.00 55.56 10.32 9.15 0.00 13.37 10.81 7.00 10.89 23.05 45.08 14.0
P/S 0.44 0.58 0.37 0.46 0.58 1.18 0.92 0.66 0.72 0.64 0.77 0.7
P/B 2.30 3.82 2.16 2.12 3.04 3.38 3.14 2.00 1.84 1.48 1.79 2.5
EV/Sales 1.28 1.29 1.00 1.14 1.21 1.95 1.68 1.56 1.88 1.94 2.06 1.5
EV/FCF (126.70) 55.40 44.86 (427.65) 8.58 11.99 (114.78) (141.46) 47.60 26.15 61.30 (61.6)
Cash, $m
Cash, $m Operating cash flow 2,108 2,865 2,554 1,826 5,529 4,082 557 907 1,968 2,538 1,784 +2.1%
Capex (1,462) (2,218) (1,895) (1,901) (1,847) (910) (902) (1,179) (1,186) (1,198) (1,173) (2.2%)
Free cash flow 646 647 659 (75) 3,682 3,172 (345) (272) 782 1,340 611 +8.4%
Balance, $m
Balance, $m Working capital 25,563 26,883 26,206 27,067 28,257 21,291 25,727 31,560 29,638 29,051 28,117 +1.4%
Net debt 19,422 19,695 18,642 19,081 16,424 15,052 17,833 22,281 23,016 23,533 23,502 +2.2%
Shareholders’ equity 4,451 4,232 5,068 6,121 4,989 6,808 6,927 8,096 7,713 7,772 7,794 +6.4%
Returns, %
Returns, % ROA (0.55) 0.58 2.26 3.04 (1.03) 3.51 4.57 5.31 2.79 1.19 0.72 +1.7 pt
ROIC 5.67 7.22 8.63 7.17 4.58 9.31 10.36 10.04 7.59 5.56 4.91 (0.1) pt
ROE (5.42) 6.27 22.97 25.42 (8.87) 29.21 29.54 30.29 15.76 6.59 3.99 +12.0 pt
People
People Employees 62,828 63,356 64,625 63,499 64,016 71,895 40,070 40,220 35,850 34,197 — (6.5%)
Revenue/emp, $m 0.40 0.44 0.46 0.44 0.41 0.27 0.59 0.61 0.55 0.53 — +3.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Business profile

Updated

CNH Industrial develops, manufactures and sells agricultural and construction equipment. It also finances equipment purchases and leases for customers and helps dealers finance their inventories. Founded in 2013, the company is headquartered in Amsterdam and has its principal office in Basildon, United Kingdom. Derek Neilson is listed as chief executive.

Its Agriculture business makes tractors, harvesters, planting and seeding equipment, sprayers, and hay and forage machines. Customers include farmers growing cash crops, livestock producers and operators of vineyards and orchards. Case IH and New Holland are its global agricultural brands, while STEYR focuses primarily on European markets and Raven provides agricultural technology.

CNH Industrial N.V. vs peers in Farm & Heavy Construction Machinery (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DE Deere & Company $178.9B 36.9× 37.3× +4.91% (above 0%: growing) +7.35% (above 0%: growing) −20.06% (below 0%: shrinking) 37.03% 20.56% Compare
PCAR PACCAR Inc. $55.0B 19.9× 17.3× +18.96% (above 0%: growing) +43.75% (above 0%: growing) −47.92% (below 0%: shrinking) 20.48% 14.88% Compare
CNH CNH Industrial N.V. $13.9B 45.1× 27.6× +1.95% (above 0%: growing) −35.29% (below 0%: shrinking) −124.62% (below 0%: shrinking) 29.29% 13.66%
OSK Oshkosh Corporation $8.3B 17.2× 16.6× +5.69% (above 0%: growing) −26.88% (below 0%: shrinking) −35.86% (below 0%: shrinking) 15.49% 6.94% Compare
AGCO AGCO Corporation $7.6B 28.6× 23.3× −8.63% (below 0%: shrinking) −82.43% (below 0%: shrinking) −1,351.85% (below 0%: shrinking) 24.99% 5.13% Compare
FSS Federal Signal Corporation $6.8B 23.0× 21.8× +18.11% (above 0%: growing) +16.51% (above 0%: growing) +47.87% (above 0%: growing) 28.86% 16.99% Compare
TEX Terex Corporation $6.1B 27.3× 27.6× +58.40% (above 0%: growing) +1.64% (above 0%: growing) +61.54% (above 0%: growing) 19.80% 8.33% Compare
BLBD Blue Bird Corporation $1.9B 7.0× 6.4× +29.94% (above 0%: growing) +366.38% (above 0%: growing) −58.60% (below 0%: shrinking) 19.99% 12.12% Compare
ALG Alamo Group, Inc. $1.7B 21.2× 14.7× −4.02% (below 0%: shrinking) −92.01% (below 0%: shrinking) +24.63% (above 0%: growing) 18.88% 0.85% Compare
Median of peers $7.2B 22.1× 19.6× +11.90% +4.50% −27.96% 20.24% 10.23%

All 27 Farm & Heavy Construction Machinery stocks →

From the latest earnings call

Updated

  • CEO Gerrit Marx said dealer inventories and equipment pricing were normalizing, but pressured farm profitability was keeping farmers cautious about larger equipment purchases.
  • CFO James Nickolas said reduced tariffs would provide some relief, although higher transportation costs and tariffs not passed on to customers would continue to affect margins.

CNH Industrial N.V. (CNH) Latest News

29 Oct

Impact 4 · · Zacks

19 Oct

Impact 3 · · GlobeNewswire

15 Oct

Impact 4 · · Simply Wall St.

8 Oct

Impact 3 · · GlobeNewswire

22 Sep

Impact 4 · · Simply Wall St.

21 Sep

Impact 3 · · GlobeNewswire

8 Sep

Impact 3 ·

31 Aug

Impact 3 ·
Impact 3 ·

27 Aug

Impact 3 ·

20 Aug

Impact 3 ·

12 Aug

Impact 3 ·

10 Aug

Impact 4 · · The Motley Fool transcript

4 Aug

Impact 3 · · Moby
Impact 3 ·

3 Aug

Impact 4 · · The Motley Fool
Impact 4 ·
Impact 4 ·
Impact 3 ·
Impact 3 · transcript
Impact 3 · · MarketBeat transcript

30 Jul

Impact 3 ·

15 Jul

Impact 3 ·

7 Jun

Impact 3 · · Simply Wall St.

22 May

Impact 3 ·

19 May

Impact 3 · · Insider Monkey

18 May

Impact 3 · · Insider Monkey

13 May

Impact 3 · · Simply Wall St.

11 May

Impact 3 · · Investing.com

10 May

Impact 3 · · MarketBeat

CNH metrics, ten years each

stockrow.com/CNH · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com