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. In the quarter to June 2026, revenue grew 1.95%, EPS fell 35.3%, free cash flow fell 124.6% and total debt fell 5.26%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.
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CNH Industrial N.V. (CNH) Piotroski F-score
CNH Industrial N.V.'s Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, down from 7 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 4 | (3.00) |
| FY2024 | 7 | 0.00 |
| FY2023 | 7 | 0.00 |
| FY2022 | 7 | 0.00 |
| FY2021 | 7 | 4.00 |
| FY2020 | 3 | (3.00) |
| FY2019 | 6 | (3.00) |
| FY2018 | 9 | 3.00 |
| FY2017 | 6 | 1.00 |
| FY2016 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 1.19% | 2.79% | Pass | 1 |
| Positive operating cash flow | 2.54b | 1.97b | Pass | 1 |
| Rising return on assets | 1.19% | 2.79% | Fail | 0 |
| Cash flow above net income | 2.03b | 722.00m | Pass | 1 |
| Falling long-term leverage | 0.62 | 0.60 | Fail | 0 |
| Rising current ratio | 13.34 | 13.44 | Fail | 0 |
| No new shares issued | 1,248,000,000 | 1,254,000,000 | Pass | 1 |
| Rising gross margin | 31.53% | 32.70% | Fail | 0 |
| Rising asset turnover | 0.42 | 0.44 | Fail | 0 |
| Piotroski F-score | Mixed | 4 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| AGCO AGCO Corporation compare | 7 |
| BLBD Blue Bird Corporation compare | 7 |
| TEX Terex Corporation compare | 6 |
| DE Deere & Company compare | 6 |
| FSS Federal Signal Corporation compare | 6 |
| ALG Alamo Group, Inc. compare | 5 |
| OSK Oshkosh Corporation compare | 5 |
| PCAR PACCAR Inc. compare | 4 |
| CNH CNH Industrial N.V. | 4 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover