A Business at a Glance
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TEREX CORP
TEX
$9.3B
Mkt Cap
$69.83
+1.91%
TEREX CORP (TEX) has a current P/E ratio of 21.0, compared to its historical median P/E of 15.0. The stock is currently considered Fair based on its historical valuation range.
TEREX CORP (TEX) has a 5-year average return on invested capital (ROIC) of 18.5%. This indicates strong capital allocation and a potential competitive advantage.
TEREX CORP (TEX) has a market capitalization of $9.4B. It is classified as a mid-cap stock.
Yes, TEREX CORP (TEX) pays a dividend with a trailing twelve-month yield of 0.57%. The company also returns capital through share buybacks, with a buyback yield of 0.26%.
Based on historical P/E analysis, TEREX CORP (TEX) appears fair. The current P/E of 21.0 is 40% above its historical median of 15.0. The estimated fair value CAGR (P/E method) is 47.5%.
TEREX CORP (TEX) operates in the Industrial Trucks, Tractors, Trailors & Stackers industry, within the Industrials sector.
TEREX CORP (TEX) reported annual revenue of $5.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Terex is a global industrial equipment manufacturer operating through three reportable segments: Environmental Solutions (ES), Materials Processing (MP), and Aerials. The ES segment designs and manufactures waste and recycling equipment, utility products including digger derricks and bucket trucks, and digital solutions for waste haulers, serving solid waste, recycling, and electric utility industries. The MP segment produces materials processing equipment such as crushers, screens, washing systems, and material handlers used in construction, quarrying, mining, and recycling applications. The Aerials segment manufactures mobile elevating work platforms (MEWPs) for construction and maintenance. Terex operates a capital-intensive manufacturing model with production facilities across North America, Europe, and Asia Pacific, distributing products globally through direct sales channels and service networks. The company generates revenue through equipment sales, aftermarket parts and services, and digital solutions, with a business model characterized by project-based bookings and backlog conversion. Terex's competitive positioning rests on its diversified product portfolio, global manufacturing footprint, lifecycle customer support through parts and services, and digital innovation capabilities that help customers maximize return on investment.
【Strong backlog-driven growth】 Management expects 2026 to benefit from elevated backlog across all segments, with Materials Processing showing particularly strong momentum from aggregates demand and fleet utilization, while Environmental Solutions is positioned for growth led by utilities demand for bucket trucks and digger derricks. The company anticipates margin expansion in the second half of 2026 driven by higher volume conversion, productivity improvements, and favorable price-cost dynamics, though first-half results will be tempered by seasonal patterns and tariff headwinds. Specialty Vehicles enters 2026 with approximately two years of backlog coverage, providing strong forward visibility and supporting expectations for high single-digit sales growth and meaningful margin improvement. Management is executing integration synergies from the REV acquisition on track to deliver approximately $28 million in 2026 toward a $75 million run-rate target within 24 months, while maintaining disciplined capital allocation and targeting net leverage improvement throughout the year.
| Metric | Target | Period |
|---|---|---|
| Sales | $7.5 billion–$8.1 billion | FY2026 |
| Pro forma EBITDA | $930 million–$1 billion | FY2026 |
| EPS | $4.50–$5.00 | FY2026 |
| Free cash conversion | 80%–90% of net income | FY2026 |
Sales (FY2026): “We continue to expect 2026 sales to grow approximately 5% on a pro forma basis to $7.5 billion-$8.1 billion.”
Pro forma EBITDA (FY2026): “We further expect pro forma EBITDA to grow by approximately $100 million, or 12% year-over-year to between $930 million and $1 billion, or 12.4% EBITDA margin at the midpoint.”
EPS (FY2026): “We expect 2026 EPS between $4.50 and $5.00.”
Free cash conversion (FY2026): “We expect 2026 free cash conversion of between 80% and 90% of our net income.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q1 FY2025 Earnings Call, Q4 FY2024 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 5.9B | 5.4B | 5.1B | 5.2B | 4.4B | 3.9B |
| Net Income | 111M | 221M | 335M | 518M | 300M | 221M |
| EPS | $1.68 | $1.67 | $2.48 | $3.79 | $2.16 | $1.56 |
| Free Cash Flow | 322M | 322M | 189M | 332M | 151M | 234M |
| ROIC | 10.6% | 8.9% | 14.2% | 30.7% | 21.1% | 17.8% |
| Gross Margin | 17.3% | 19.4% | 20.8% | 22.8% | 19.7% | 19.5% |
| Debt/Equity | 2,749.00 | 1.29 | 1.48 | 0.44 | 0.73 | 0.69 |
| Dividends/Share | $0.39 | $0.34 | $0.34 | $0.31 | $0.26 | $0.24 |
| Operating Income | 324M | 475M | 526M | 637M | 420M | 328M |
| Operating Margin | 5.5% | 8.8% | 10.3% | 12.4% | 9.5% | 8.4% |
| ROE | 11100.0% | 11.3% | 19.1% | 36.3% | 26.2% | 21.8% |
| Shares Outstanding | 134M | 133M | 135M | 137M | 139M | 142M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 5.5B | 5.0B | 4.4B | 3.8B | 4.5B | 4.4B | 3.1B | 3.9B | 4.4B | 5.2B | 5.1B | 5.4B | 5.9B |
| Gross Margin | 19.2% | 19.3% | 16.0% | 20.2% | 21.3% | 20.4% | 17.5% | 19.5% | 19.7% | 22.8% | 20.8% | 19.4% | 17.3% |
| R&D | 102M | 90M | 86M | 56M | 63M | 72M | 59M | 52M | 22M | 28M | 25M | 39M | 39M |
| SG&A | 652M | 648M | 678M | 539M | 549M | 553M | 471M | 429M | 451M | 540M | 542M | 576M | 656M |
| EBIT | 400M | 324M | -142M | 228M | 413M | 335M | 68M | 328M | 420M | 637M | 526M | 475M | 324M |
| Op. Margin | 7.3% | 6.4% | -3.2% | 6.0% | 9.1% | 7.7% | 2.2% | 8.4% | 9.5% | 12.4% | 10.3% | 8.8% | 5.5% |
| Net Income | 319M | 146M | -176M | 129M | 114M | 54M | -11M | 221M | 300M | 518M | 335M | 221M | 111M |
| Net Margin | 5.8% | 2.9% | -4.0% | 3.4% | 2.5% | 1.2% | -0.3% | 5.7% | 6.8% | 10.1% | 6.5% | 4.1% | 1.9% |
| Non-Recurring | 14M | 100K | 247M | 9.7M | 2.5M | 14M | 5.5M | 6.3M | 1.1M | 300K | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 10.1% | 6.3% | -5.3% | 7.3% | 20.6% | 16.5% | 3.6% | 17.8% | 21.1% | 30.7% | 14.2% | 8.9% | 10.6% |
| ROE | 15.2% | 7.5% | -10.5% | 9.5% | 10.9% | 6.1% | -1.1% | 21.8% | 26.2% | 36.3% | 19.1% | 11.3% | 11100.0% |
| ROA | 5.1% | 2.5% | -3.3% | 3.0% | 3.3% | 1.6% | -0.3% | 7.5% | 10.0% | 15.4% | 7.2% | 3.7% | 1.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 411M | 228M | 377M | 153M | 94M | 173M | 225M | 293M | 261M | 459M | 326M | 440M | 430M |
| Free Cash Flow | 352M | 146M | 319M | 121M | 3.2M | 68M | 161M | 234M | 151M | 332M | 189M | 322M | 322M |
| Owner Earnings | 265M | 112M | 265M | 61M | 12M | 84M | 152M | 210M | 184M | 359M | 214M | 251M | 177M |
| CapEx | 58M | 82M | 58M | 32M | 91M | 106M | 65M | 60M | 110M | 127M | 137M | 118M | 108M |
| Maint. CapEx | 99M | 77M | 74M | 53M | 45M | 46M | 50M | 50M | 47M | 56M | 82M | 157M | 195M |
| Growth CapEx | 0 | 4.9M | 0 | 0 | 46M | 59M | 15M | 9.5M | 63M | 71M | 55M | 0 | 0 |
| D&A | 99M | 77M | 74M | 53M | 45M | 46M | 50M | 50M | 47M | 56M | 82M | 157M | 195M |
| CapEx/OCF | 19.8% | 48.8% | 19.4% | 28.4% | 110.2% | 62.8% | 28.6% | 20.3% | 42.0% | 27.7% | 42.0% | 26.8% | 25.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 22M | 26M | 30M | 30M | 30M | 31M | 8.4M | 34M | 36M | 43M | 46M | 45M | 53M |
| Dividend Yield | 0.3% | 0.6% | 0.7% | 0.5% | 0.5% | 0.8% | 0.3% | 0.6% | 0.7% | 0.6% | 0.6% | 0.7% | 0.6% |
| Share Buybacks | 171M | 51M | 83M | 925M | 428M | 7.4M | 56M | 3.0M | 101M | 63M | 49M | 56M | 24M |
| Buyback Yield | 6.0% | 2.8% | 2.7% | 22.1% | 22.2% | 0.4% | 2.4% | 0.1% | 3.6% | 1.6% | 1.6% | 1.5% | 0.3% |
| Stock-Based Comp | 47M | 39M | 38M | 39M | 37M | 43M | 24M | 33M | 30M | 44M | 30M | 32M | 58M |
| Debt Repayment | 1.8B | 1.4B | 1.3B | 1.6B | 1.2B | 1.7B | 176M | 1.1B | 224M | 402M | 222M | 104M | 104M |
| Balance Sheet | |||||||||||||
| Net Debt | 1.4B | 1.4B | 1.1B | 413M | 875M | 771M | 617M | 500M | 561M | 372M | 2.3B | 1.9B | 2.4B |
| Cash & Equiv. | 393M | 371M | 429M | 572M | 340M | 535M | 665M | 267M | 304M | 371M | 388M | 772M | 392M |
| Long-Term Debt | 1.6B | 1.7B | 1.6B | 980M | 1.2B | 1.2B | 1.2B | 669M | 774M | 620M | 2.6B | 2.6B | 2.7B |
| Debt/Equity | 0.89 | 0.96 | 1.06 | 0.81 | 1.41 | 1.40 | 1.39 | 0.69 | 0.73 | 0.44 | 1.48 | 1.29 | 2749.00 |
| Interest Coverage | 3.3 | 3.0 | -1.4 | 3.4 | 5.7 | 3.8 | 1.0 | 6.4 | 8.6 | 10.1 | 5.9 | 2.7 | 2.4 |
| Equity | 2.0B | 1.9B | 1.5B | 1.2B | 861M | 932M | 922M | 1.1B | 1.2B | 1.7B | 1.8B | 2.1B | 1.0M |
| Total Assets | 5.9B | 5.6B | 5.0B | 3.5B | 3.5B | 3.2B | 3.0B | 2.9B | 3.1B | 3.6B | 5.7B | 6.1B | 10.2B |
| Total Liabilities | 3.9B | 3.7B | 3.5B | 2.2B | 2.6B | 2.3B | 2.1B | 1.8B | 1.9B | 1.9B | 3.9B | 4.0B | 5.4B |
| Intangibles | 325M | 23M | 18M | 14M | 11M | 9.7M | 8.3M | 13M | 17M | 16M | 1.1B | 1.0B | 3.0B |
| Retained Earnings | 2.0B | 2.1B | 1.9B | 2.0B | 749M | 771M | 750M | 937M | 1.2B | 1.7B | 2.0B | 2.1B | 2.0B |
| Working Capital | 1.7B | 1.7B | 1.3B | 1.3B | 1.2B | 1.1B | 1.2B | 858M | 963M | 1.1B | 1.2B | 1.5B | 1.4B |
| Current Assets | 3.4B | 3.1B | 2.7B | 2.4B | 2.4B | 2.0B | 1.9B | 1.8B | 2.0B | 2.2B | 2.3B | 2.7B | 3.2B |
| Current Liabilities | 1.6B | 1.5B | 1.4B | 1.0B | 1.2B | 872M | 723M | 910M | 999M | 1.1B | 1.1B | 1.2B | 1.7B |
| Per Share Data | |||||||||||||
| EPS | 1.40 | 0.67 | -0.82 | 0.68 | 0.74 | 0.38 | -0.08 | 1.56 | 2.16 | 3.79 | 2.48 | 1.67 | 1.68 |
| Owner EPS | 1.16 | 0.51 | 1.23 | 0.32 | 0.08 | 0.59 | 1.07 | 1.48 | 1.32 | 2.63 | 1.58 | 1.89 | 1.32 |
| Book Value | 8.77 | 8.56 | 6.87 | 6.46 | 5.60 | 6.51 | 6.52 | 7.83 | 8.50 | 12.23 | 13.56 | 15.78 | 0.01 |
| Cash Flow/Share | 1.80 | 1.04 | 1.75 | 0.81 | 0.61 | 1.21 | 1.59 | 2.07 | 1.88 | 3.36 | 2.41 | 3.31 | 2.28 |
| Dividends/Share | 0.10 | 0.12 | 0.14 | 0.16 | 0.20 | 0.22 | 0.06 | 0.24 | 0.26 | 0.31 | 0.34 | 0.34 | 0.39 |
| Shares Out. | 228.7M | 219.4M | 216.1M | 189.3M | 153.6M | 143.2M | 141.3M | 141.6M | 138.9M | 136.7M | 135.1M | 132.7M | 134.3M |
| Valuation | |||||||||||||
| P/E Ratio | 9.0 | 12.5 | N/A | 32.4 | 16.9 | 37.0 | N/A | 13.5 | 9.4 | 7.5 | 9.0 | 16.6 | 41.7 |
| P/FCF | 16.3 | 24.9 | 19.6 | 68.9 | N/A | 59.2 | 28.9 | 25.4 | 37.4 | 23.5 | 31.8 | 22.7 | 29.1 |
| EV/EBIT | 9.1 | 9.1 | N/A | 21.8 | 6.0 | 6.3 | 31.8 | 9.5 | 7.1 | 5.9 | 9.2 | 9.9 | 36.2 |
| Price/Book | 1.4 | 1.0 | 2.1 | 3.4 | 2.2 | 2.2 | 2.5 | 2.7 | 2.4 | 2.3 | 1.6 | 1.7 | N/A |
| Price/Sales | 0.5 | 0.5 | 0.5 | 0.7 | 0.6 | 0.4 | 0.5 | 0.8 | 0.6 | 0.7 | 0.7 | 0.6 | 1.6 |
| FCF Yield | 12.3% | 8.0% | 10.2% | 2.9% | 0.2% | 3.4% | 6.9% | 7.9% | 5.3% | 8.5% | 6.3% | 8.8% | 3.4% |
| Market Cap | 2.9B | 1.8B | 3.1B | 4.2B | 1.9B | 2.0B | 2.3B | 3.0B | 2.8B | 3.9B | 3.0B | 3.7B | 9.4B |
| Avg. Price | 32.55 | 20.72 | 21.18 | 34.12 | 35.67 | 27.27 | 20.48 | 42.79 | 35.29 | 51.14 | 55.18 | 46.38 | 69.83 |
| Year-End Price | 25.08 | 16.57 | 28.88 | 44.13 | 25.05 | 28.09 | 32.88 | 41.99 | 40.64 | 57.03 | 44.55 | 55.18 | 69.83 |
TEREX CORP passes 3 of 9 quality checks, indicating weak fundamentals.
TEREX CORP trades at 21.0x trailing earnings, compared to its 15-year median P/E of 15.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 24.7x vs a median of 28.9x. The company's 5-year average ROIC is 18.5% with a gross margin of 20.5%. Total shareholder yield (dividends + buybacks) is 0.8%. At current prices, the estimated annualized return to fair value is +33.7%.
TEREX CORP (TEX) has a net profit margin of 4.1%. This is a modest margin.
TEREX CORP (TEX) generated $322 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
TEREX CORP (TEX) has a debt-to-equity ratio of 1.29. This indicates moderate leverage.
TEREX CORP (TEX) reported earnings per share (EPS) of $1.67 in its most recent fiscal year.
TEREX CORP (TEX) has a return on equity (ROE) of 11.3%. This indicates moderate shareholder returns.
TEREX CORP (TEX) has a 5-year average gross margin of 20.5%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for TEREX CORP (TEX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TEREX CORP (TEX) has a book value per share of $15.78, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects 2026 to benefit from elevated backlog across all segments, with Materials Processing showing particularly strong momentum from aggregates demand and fleet utilization, while Environmental Solutions is positioned for growth led by utilities demand for bucket trucks and digger derricks. The company anticipates margin expansion in the second half of 2026 driven by higher volume conversion, productivity improvements, and favorable price-cost dynamics, though first-half results will be tempered by seasonal patterns and tariff headwinds. Specialty Vehicles enters 2026 with approximately two years of backlog coverage, providing strong forward visibility and supporting expectations for high single-digit sales growth and meaningful margin improvement. Management is executing integration synergies from the REV acquisition on track to deliver approximately $28 million in 2026 toward a $75 million run-rate target within 24 months, while maintaining disciplined capital allocation and targeting net leverage improvement throughout the year.
Based on recent SEC filings and earnings calls, TEREX CORP (TEX) has provided the following forward guidance: Sales: $7.5 billion–$8.1 billion (FY2026); Pro forma EBITDA: $930 million–$1 billion (FY2026); EPS: $4.50–$5.00 (FY2026); Free cash conversion: 80%–90% of net income (FY2026).
No recent press releases.