CNH Industrial N.V.

Construction Machinery & Equip

CNHMixed8 of 11 basics passed

$11.42

-5.85%

Market cap $18.4B

$11.42

-5.85%

Market cap $18.4B

CNH Industrial is the world's second largest manufacturer of agricultural machinery (82% of industrial net sales) as well as a major player in construction equipment (18% of industrial net sales). Its Case and New Holland brands have served farmers for generations.

It is a $18.4B industrial company. Revenue grew 0.6% over the last year, it keeps 2¢ of every dollar of sales as profit, and its net debt equals ~40.1 years of free cash flow. It trades at 45.3× earnings.

Website: cnh.com
Location: Basildon, Essex
Employees: 34 197
Sector: Industrials

Share price · 2 years

$11.14 → $11.42+2.5%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $18.2B
Profit: keeps 2¢ of every $1 sold; $311M
Free cash flow: cash left after running the business; $611M
Net debt: debt minus cash on hand; $24.5B
P/E: years of profit in the price; 45.3
EPS: earnings per share, TTM; $0.25
Dividend: pays out 45% of profit · 30% of FCF; 0.99%
Shares: down 8% since 2021 — buybacks; 1.25B
Volatility: beta vs the market — under 1 swings less; 1.21

Revenue, last 5 years

52-week range

Low $9.22$11.42High $14.40

Today's price is 42% of the way from the year's low to its high.

Valuation vs own history

P/E

58.9×

P/S

1.0×

18%

EV/EBITDA

71.8×

P/B

2.3×

FCF yield

3.3%

Share of the last ~5 years that was pricier than today (unusually expensive vs its own history). Based on the daily valuation record.

Standing in Industrials

Size$18.4Btop 50%
Revenue growth-8%top 96%
Net margin2%top 95%
Return on equity4%top 94%
P/E45.3×top 86%
Dividend yield0.99%top 58%

Ranked against 130 Industrials companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Growth, Profitability, Health and Moat lag behind.

Valuation57

P/E vs own history99th pct · 0/25
FCF yield3.3% · 12/25
P/S0.8x · 25/25
EV/EBITDA12.3x · 20/25

Growth25

Revenue CAGR-1.8% · 0/25
Net income CAGR-26.2% · 0/25
EPS CAGR ~5Y-24.7% · 0/25
Fwd implied growth103.3% · 25/25

Profitability28

ROIC1.6% · 5/25
ROE4.0% · 5/25
Net margin1.7% · 6/25
Operating margin13.5% · 12/25

Health25

Altman Z1.53 · 10/25
Current ratio1.15 · 12/25
Interest coverage1.4x · 3/25
Net cash / debtD/A 57% · 0/25

Quality60

Piotroski F4/9 · 10/25
Beneish M-2.79 · 25/25
FCF conversionn/a · 0/25
Margin stabilityσ 3.3% · 25/25

Moat28

ROIC >12% years0/5 yrs · 0/25
Median gross margin23.4% · 6/25
FCF-positive years3/5 yrs · 10/25
Worst-year net marginworst 2.8% · 12/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2023Financial
Best year on record
$2.27B net income
FY2021Financial
Profitable every year on record
5 consecutive profitable years in our data
FY2021Financial
Revenue already above $10B
$19.5B in first reported year

Achievements

Verifiable track record, straight from the reported numbers.

$18.1B revenue in FY2025

Profitable 5 years in a row

34 197 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

No standout strengths in the available data.

Watch-outs

Altman Z-Score 1.53 — elevated financial-distress risk
Thin interest coverage (1.4×)
Net debt equals ~40.1 years of free cash flow

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

8 of 11 checks passed

Revenue growing — the company sells more than a year ago+0.6% YoY
Profitable — makes more than it spends$311M TTM
Profit growing — earnings are higher than last year-35.1% YoY
Generates cash — cash left after running and investing$611M TTM
Debt under control — could handle its obligations~40.1y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$18.4B market cap
Not printing shares — share count not ballooning — you keep your slice-7.7% shares over ~5y
Proven track record — years of profitability behind it5/5 profitable years
Financially stable — balance sheet not near distressAltman Z 1.5 — distress
Pays a dividend — returns cash to shareholdersyield 0.99%
Valuation not extreme — price not wildly above earningsP/E 45.3

Peer comparisonCNH Industrial N.V. vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
CNH this company	$18.4B	45.3	+0.6%	1.7%	Mixed
LRCX Lam Research Corp	$399.2B	54.9	+26.0%	31.3%	Strong
CAT Caterpillar Inc.	$368.0B	33.9	+18.4%	14.5%	Solid
RTX RTX Corporation	$251.3B	32.4	+11.8%	8.3%	Strained
DE Deere & Company	$167.7B	34.4	+8.3%	10.2%	Solid
ETN Eaton Corporation, plc	$167.2B	43.6	+15.5%	12.8%	Mixed
UNP Union Pacific Corp.	$166.8B	22.6	+4.2%	28.8%	Strained

Head-to-head: CNH vs LRCX · CNH vs CAT · CNH vs RTX

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 5Buy 9Hold 9Sell 1

Appendix · Financial records

The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $18.2B · net income $311M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$18.2B

YoY 0.6%

Net income (TTM)

$311M

Margin 1.7%

Gross margin

30.6%

Operating margin

13.5%

P/E ratio

45.3

Dividend yield

0.99%

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025
Revenue	19.5	23.6	24.7	19.8	18.1
Gross profit	4.3	5.2	5.8	6.5	5.7
Operating income (EBIT)	2.1	2.8	2.9	1.7	0.7
Net income	1.7	2.0	2.3	1.2	0.5
EPS (diluted)	1.27	1.51	1.76	0.99	0.41

Cash flowFree cash flow $611M · operating cash flow $1.78B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$611M

Margin 3.4%

Operating cash flow (TTM)

$1.78B

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Operating cash flow	4.1	0.6	0.9	2.0	2.5
Capital expenditure	-0.9	-1.0	-1.2	-1.2	-1.2
Free cash flow	3.2	-0.4	-0.3	0.8	1.3
FCF margin	16.2%	-1.9%	-1.2%	3.9%	7.4%

Balance sheetAssets $42.7B · net debt $24.5B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $42.7B of assets is financed

82%

18%

Liabilities $34.9B — borrowed moneyEquity $7.77B — owners' stake

Cash vs debt

Total debt $27.1B − cash $2.58B = net debt $24.5B

Cash on hand covers 10% of debt.

Altman Z-Score

1.53

Distress zone

Interest coverage

1.4x

EBIT ÷ interest expense

ROE

4.0%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Cash & equivalents	4.5	3.9	3.6	3.2	2.6
Total assets	49.4	39.4	46.3	42.9	42.7
Total liabilities	42.6	32.4	38.1	35.2	34.9
Total debt	21.1	23.3	27.8	27.2	27.1
Equity	6.9	7.0	8.2	7.7	7.8
Net debt	16.7	19.4	24.2	24.1	24.5

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of CNH on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $11.42 · market cap $18.4B.