Lindsay Corporation (LNN) vs Titan International, Inc. (TWI)

Lindsay Corporation and Titan International, Inc. are both Farm & Heavy Construction Machinery companies. Lindsay Corporation is the larger, with a market value of $1.1B against $435.7M — 2.6× the size. Titan International, Inc. has negative trailing earnings, so its P/E is not meaningful; Lindsay Corporation trades at 20.5×. Titan International, Inc. grew revenue faster over the last twelve months: 4.69% against −7.37%. Lindsay Corporation has the higher net margin (8.79% vs −4.11%) and the higher return on invested capital (8.50% vs −0.11%). Across the 20 metrics below, Lindsay Corporation leads on 14 and Titan International, Inc. on 6.

Valuation

Metric LNN TWI Farm & Heavy Construction Machinery median
P/E 20.49 n/m 23.28
P/S 1.76 0.23 0.75
P/B 2.22 0.84 1.43
Price to free cash flow 24.62 n/m 22.25
EV/EBITDA 12.59 12.51 11.41
EV/Sales 1.70 0.45 1.14
Earnings yield 4.88% (18.22%) 2.83%
Free cash flow yield 4.06% (1.83%) 2.91%

Profitability

Metric LNN TWI Farm & Heavy Construction Machinery median
Gross margin 29.46% 14.03% 24.21%
Operating margin 9.95% (0.09%) 4.47%
Net margin 8.79% (4.11%) 1.49%
Free cash flow margin 7.15% (0.42%) 2.15%
Return on equity 10.74% (14.12%) 3.99%
Return on assets 6.64% (4.42%) 1.31%
Return on invested capital 8.50% (0.11%) 3.36%

Growth

Metric LNN TWI Farm & Heavy Construction Machinery median
Revenue growth (TTM) (7.37%) 4.69% 2.18%
EPS growth (last fiscal year) 12.81% (1,150.00%) (27.79%)
Revenue growth, 5-year CAGR 7.34% 7.74% 7.34%
Net income growth, 5-year CAGR 13.90% 0.00% 0.00%

Health

Metric LNN TWI Farm & Heavy Construction Machinery median
Debt to equity 0.23 1.16 0.67
Current ratio 2.93 2.11 1.98
Net debt to EBITDA (1.24) 4.36 1.12

Dividend

Metric LNN TWI Farm & Heavy Construction Machinery median
Dividend yield 1.39% — 1.34%
Payout ratio 0.29 — 0.30

Size

Metric LNN TWI Farm & Heavy Construction Machinery median
Market cap 1.12b 435.66m 808.87m

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