Titan International, Inc.
TWI Industrials Farm & Heavy Construction Machinery
Titan International, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, down 0.95% from fiscal 2024. In the quarter to June 2026, revenue grew 5.19%, EPS grew 228.6%, free cash flow grew 535.2% and total debt rose 1.29%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
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Titan International, Inc. (TWI) Piotroski F-score
Titan International, Inc.'s Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, up from 2 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 4 | 2.00 |
| FY2024 | 2 | (5.00) |
| FY2023 | 7 | 0.00 |
| FY2022 | 7 | 2.00 |
| FY2021 | 5 | 1.00 |
| FY2020 | 4 | 2.00 |
| FY2019 | 2 | (2.00) |
| FY2018 | 4 | 0.00 |
| FY2017 | 4 | (1.00) |
| FY2016 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (3.90%) | (0.39%) | Fail | 0 |
| Positive operating cash flow | 30.03m | 141.49m | Pass | 1 |
| Rising return on assets | (3.90%) | (0.39%) | Fail | 0 |
| Cash flow above net income | 93.52m | 147.05m | Pass | 1 |
| Falling long-term leverage | 0.35 | 0.38 | Pass | 1 |
| Rising current ratio | 2.30 | 2.35 | Fail | 0 |
| No new shares issued | 63,714,000 | 68,662,000 | Pass | 1 |
| Rising gross margin | 13.86% | 13.97% | Fail | 0 |
| Rising asset turnover | 1.12 | 1.28 | 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 |
|---|---|
| GENC Gencor Industries Inc. compare | 6 |
| MTW The Manitowoc Company, Inc. compare | 5 |
| ASTE Astec Industries, Inc. compare | 5 |
| WNC Wabash National Corporation compare | 4 |
| TWI Titan International, Inc. | 4 |
| CMCO Columbus McKinnon Corporation compare | 3 |
| HY Hyster-Yale, Inc. compare | 2 |
| BNC BNB Standard Corporation compare | — |
| AEBI Aebi Schmidt Holding AG compare | — |
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