NASDAQ : TITN
Titan Machinery Inc. — Financial statements
Industrials · Industrial Distribution · United States
Last price 23.86 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 547.68M
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Financial statements
Titan Machinery Inc. (TITN) reported revenue of 2.31B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 2.31B | 2.43B | 2.70B | 2.76B | 2.21B | 1.71B |
| Cost of Revenue | 1.93B | 2.04B | 2.31B | 2.23B | 1.77B | 1.38B |
| Gross Profit | 379.66M | 382.56M | 395.63M | 531.35M | 439.84M | 332.72M |
| Selling, General & Admin | 357.70M | 358.32M | 362.68M | 340.53M | 283.65M | 227.81M |
| Operating Expenses | 384.63M | 385.24M | 389.78M | 362.51M | 300.42M | 241.04M |
| Operating Income | -4.97M | -2.68M | 5.85M | 168.84M | 139.42M | 91.68M |
| Interest Expense | -36.90M | -43.08M | -49.81M | -21.11M | -6.94M | -5.71M |
| Interest & Investment Income | 1.39M | 5.89M | 2.30M | 5.06M | ||
| Currency Exchange Gain (Loss) | 4.89M | 3.00M | -4.00M | 1.00M | -1.20M | -100.00K |
| Other Non Operating Income (Expenses) | 2.53M | |||||
| EBT Excluding Unusual Items | -36.98M | -41.38M | -42.08M | 151.04M | 136.34M | 88.40M |
| Merger & Restructuring Charges | -1.74M | -1.74M | -1.10M | |||
| Impairment of Goodwill | -531.00K | |||||
| Gain (Loss) on Sale of Assets | -9.65M | |||||
| Asset Writedown | -2.80M | -2.29M | -1.31M | -1.50M | ||
| Other Unusual Items | 3.58M | |||||
| Pretax Income | -41.52M | -45.41M | -49.98M | 151.04M | 135.24M | 86.90M |
| Income Tax Expense | 15.22M | 8.77M | -13.07M | 38.60M | 33.37M | 20.85M |
| Earnings From Continuing Operations | -56.74M | -54.17M | -36.91M | 112.44M | 101.87M | 66.05M |
| Net Income | -56.74M | -54.17M | -36.91M | 112.44M | 101.87M | 66.05M |
| Preferred Dividends & Other Adjustments | 1.52M | 1.29M | 977.00K | |||
| Net Income to Common | -56.74M | -54.17M | -36.91M | 110.92M | 100.57M | 65.07M |
| Shares Outstanding (Basic) | 22.84M | 22.75M | 22.61M | 22.49M | 22.37M | 22.24M |
| Shares Outstanding (Diluted) | 22.84M | 22.75M | 22.61M | 22.50M | 22.38M | 22.25M |
| EPS (Basic) | -2.48 | -2.38 | -1.63 | 4.93 | 4.50 | 2.93 |
| EPS (Diluted) | -2.48 | -2.38 | -1.63 | 4.93 | 4.49 | 2.92 |
| Free Cash Flow | 49.69M | 115.09M | 18.45M | -94.64M | -26.39M | 121.29M |
| Free Cash Flow Per Share | 2.17 | 5.06 | 0.82 | -4.21 | -1.18 | 5.45 |
| Gross Margin | 16.47% | 15.76% | 14.64% | 19.26% | 19.91% | 19.44% |
| Operating Margin | -0.22% | -0.11% | 0.22% | 6.12% | 6.31% | 5.36% |
| Profit Margin | -2.46% | -2.23% | -1.37% | 4.02% | 4.55% | 3.80% |
| Free Cash Flow Margin | 2.16% | 4.74% | 0.68% | -3.43% | -1.20% | 7.08% |
| EBITDA | 32.75M | 34.88M | 44.45M | 200.32M | 164.62M | 113.82M |
| EBITDA Margin | 1.42% | 1.44% | 1.65% | 7.26% | 7.45% | 6.65% |
| D&A For EBITDA | 37.72M | 37.56M | 38.60M | 31.48M | 25.20M | 22.14M |
| EBIT | -4.97M | -2.68M | 5.85M | 168.84M | 139.42M | 91.68M |
| EBIT Margin | -0.22% | -0.11% | 0.22% | 6.12% | 6.31% | 5.36% |
| Effective Tax Rate | 25.55% | 24.68% | 24.00% | |||
| Revenue as Reported | 2.31B | 2.43B | 2.70B | 2.76B | 2.21B | 1.71B |
| Advertising Expenses | 2.50M | 2.20M | 3.10M | 2.90M | 2.50M |
Balance sheet
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 29.51M | 28.16M | 35.90M | 38.07M | 43.91M | 146.15M |
| Cash & Short-Term Investments | 29.51M | 28.16M | 35.90M | 38.07M | 43.91M | 146.15M |
| Accounts Receivable | 86.58M | 100.76M | 93.18M | 134.26M | 79.24M | 66.25M |
| Other Receivables | 26.60M | 26.27M | 26.64M | 19.40M | 16.61M | 28.04M |
| Receivables | 113.17M | 127.03M | 119.81M | 153.66M | 95.84M | 94.29M |
| Inventory | 931.50M | 903.09M | 1.11B | 1.30B | 703.94M | 421.76M |
| Prepaid Expenses | 26.46M | 31.70M | 28.24M | 24.26M | 25.55M | 28.14M |
| Total Current Assets | 1.10B | 1.09B | 1.29B | 1.52B | 869.25M | 690.33M |
| Property, Plant & Equipment | 407.84M | 408.18M | 407.62M | 353.47M | 267.99M | 234.39M |
| Goodwill | 67.16M | 65.58M | 61.25M | 64.11M | 30.62M | 8.95M |
| Other Intangible Assets | 51.32M | 51.23M | 48.31M | 53.36M | 18.41M | 10.62M |
| Long-Term Deferred Tax Assets | 988.00K | 1.33M | 2.55M | 529.00K | 1.25M | 1.33M |
| Other Long-Term Assets | 593.00K | 625.00K | 1.58M | 1.78M | 1.18M | 1.04M |
| Total Assets | 1.63B | 1.62B | 1.81B | 1.99B | 1.19B | 946.67M |
| Accounts Payable | 41.05M | 35.16M | 37.17M | 43.85M | 40.83M | 25.64M |
| Accrued Expenses | 72.52M | 53.41M | 45.67M | 56.66M | 54.52M | 43.55M |
| Short-Term Debt | 623.57M | 553.75M | 755.70M | 893.85M | 258.37M | 135.41M |
| Current Portion of Long-Term Debt | 25.89M | 21.41M | 10.92M | 13.71M | 7.24M | 5.88M |
| Current Portion of Leases | 15.50M | 11.25M | 7.43M | 11.31M | 9.86M | 17.07M |
| Current Income Taxes Payable | 4.70M | |||||
| Current Unearned Revenue | 38.66M | 82.31M | 91.93M | 115.85M | 119.84M | 134.15M |
| Other Current Liabilities | 520.00K | 14.67M | 12.14M | 17.18M | 7.49M | 8.32M |
| Total Current Liabilities | 817.70M | 771.96M | 960.96M | 1.15B | 498.15M | 374.72M |
| Long-Term Debt | 138.06M | 149.00M | 147.96M | 106.41M | 78.70M | 62.39M |
| Long-Term Leases | 92.85M | 97.75M | 80.29M | 52.37M | 61.63M | 69.50M |
| Long-Term Deferred Tax Liabilities | 10.96M | 10.15M | 8.82M | 22.61M | 9.56M | 2.01M |
| Other Long-Term Liabilities | 11.17M | 8.76M | 1.84M | 834.00K | 4.35M | 2.86M |
| Total Liabilities | 1.07B | 1.04B | 1.20B | 1.33B | 652.39M | 511.47M |
| Additional Paid-In Capital | 268.59M | 266.90M | 262.10M | 258.66M | 256.54M | 254.46M |
| Retained Earnings | 284.37M | 306.14M | 360.31M | 397.23M | 284.78M | 182.92M |
| Comprehensive Income & Other | 4.85M | 6.25M | -8.33M | 1.76M | -5.02M | -2.17M |
| Total Common Equity | 557.82M | 579.30M | 614.08M | 657.64M | 536.31M | 435.20M |
| Shareholders' Equity | 557.82M | 579.30M | 614.08M | 657.64M | 536.31M | 435.20M |
| Total Liabilities & Equity | 1.63B | 1.62B | 1.81B | 1.99B | 1.19B | 946.67M |
| Total Debt | 895.86M | 833.17M | 1.00B | 1.08B | 415.79M | 290.24M |
| Net Cash (Debt) | -866.35M | -805.00M | -966.40M | -1.04B | -371.88M | -144.09M |
| Net Cash Per Share | -37.93 | -35.39 | -42.75 | -46.21 | -16.62 | -6.48 |
| Filing Date Shares Outstanding | 22.95M | 22.78M | 22.63M | 22.51M | 22.42M | 22.28M |
| Total Common Shares Outstanding | 22.96M | 22.78M | 22.63M | 22.51M | 22.42M | 22.28M |
| Working Capital | 282.95M | 318.02M | 331.67M | 366.61M | 371.10M | 315.61M |
| Book Value Per Share | 24.30 | 25.42 | 27.13 | 29.21 | 23.92 | 19.53 |
| Tangible Book Value | 439.34M | 462.48M | 504.52M | 540.18M | 487.27M | 415.62M |
| Tangible Book Value Per Share | 19.14 | 20.30 | 22.29 | 24.00 | 21.74 | 18.65 |
| Land | 292.76M | 239.28M | 242.53M | 202.05M | 137.47M | 112.58M |
| Machinery | 183.60M | 184.72M | 182.55M | 193.46M | 161.28M | 131.70M |
Cash flow statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -56.74M | -54.17M | -36.91M | 112.44M | 101.87M | 66.05M |
| Depreciation & Amortization | 37.72M | 37.56M | 38.60M | 31.48M | 25.20M | 22.14M |
| Loss (Gain) From Sale of Assets | -4.53M | |||||
| Asset Writedown & Restructuring Costs | 2.80M | 2.29M | 1.84M | 1.50M | ||
| Stock-Based Compensation | 5.23M | 5.57M | 4.29M | 3.12M | 3.23M | 2.55M |
| Other Operating Activities | 12.72M | 1.01M | 2.96M | 9.82M | 16.77M | 15.13M |
| Change in Accounts Receivable | 18.97M | -499.00K | 28.80M | -48.09M | 5.27M | -12.40M |
| Change in Inventory | 202.82M | 235.73M | 166.18M | -476.39M | -180.93M | 5.80M |
| Change in Accounts Payable | 16.21M | 14.56M | -28.66M | -17.84M | -13.93M | -1.16M |
| Change in Unearned Revenue | -3.38M | -10.87M | -25.57M | -15.54M | -20.90M | 74.24M |
| Change in Other Net Operating Assets | -173.85M | -93.73M | -81.25M | 368.73M | 74.25M | -10.40M |
| Operating Cash Flow | 62.49M | 137.45M | 70.29M | -32.28M | 10.82M | 158.92M |
| Capital Expenditures | -12.81M | -22.36M | -51.84M | -62.36M | -37.21M | -37.63M |
| Sale of Property, Plant & Equipment | 6.33M | 5.86M | 4.16M | 7.13M | 3.76M | 16.05M |
| Cash Acquisitions | -10.34M | -19.80M | -260.00K | -107.55M | -100.47M | -33.64M |
| Divestitures | 14.78M | 12.75M | ||||
| Other Investing Activities | 493.00K | 837.00K | 199.00K | -597.00K | -139.00K | 26.00K |
| Investing Cash Flow | -1.55M | -22.71M | -47.75M | -163.37M | -134.06M | -55.20M |
| Short-Term Debt Issued | 183.15M | 22.33M | ||||
| Long-Term Debt Issued | 25.34M | 37.29M | 19.60M | 8.41M | 10.35M | |
| Total Debt Issued | 63.45M | 25.34M | 37.29M | 202.75M | 30.75M | 10.35M |
| Short-Term Debt Repaid | -126.82M | -37.69M | -35.44M | |||
| Long-Term Debt Repaid | -21.32M | -18.50M | -13.04M | -7.64M | -9.21M | |
| Total Debt Repaid | -125.60M | -148.13M | -56.19M | -13.04M | -7.64M | -44.66M |
| Net Debt Issued (Repaid) | -62.15M | -122.80M | -18.90M | 189.70M | 23.11M | -34.31M |
| Other Financing Activities | -1.17M | -908.00K | -4.72M | -1.12M | -1.15M | -1.03M |
| Financing Cash Flow | -63.31M | -123.70M | -23.62M | 188.58M | 21.96M | -35.34M |
| Foreign Exchange Rate Adjustments | -799.00K | 1.23M | -1.09M | 1.23M | -946.00K | -1.22M |
| Net Cash Flow | -3.17M | -7.73M | -2.17M | -5.85M | -102.24M | 67.16M |
| Free Cash Flow | 49.69M | 115.09M | 18.45M | -94.64M | -26.39M | 121.29M |
| Free Cash Flow Margin | 2.16% | 4.74% | 0.68% | -3.43% | -1.20% | 7.08% |
| Free Cash Flow Per Share | 2.17 | 5.06 | 0.82 | -4.21 | -1.18 | 5.45 |
| Levered Free Cash Flow | 238.24M | 186.06M | 141.26M | -580.00M | -200.75M | 84.99M |
| Unlevered Free Cash Flow | 261.30M | 212.99M | 172.40M | -566.81M | -196.41M | 88.56M |
| Cash Interest Paid | 36.62M | 42.88M | 48.29M | 19.38M | 6.52M | 5.40M |
| Cash Income Tax Paid | -1.85M | 6.56M | 39.84M | 26.57M | 22.95M | |
| Change in Working Capital | 60.76M | 145.19M | 59.50M | -189.14M | -136.24M | 56.08M |
Ratios
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 540.11M | 372.21M | 426.62M | 603.28M | 984.21M | 682.86M |
| Enterprise Value | 1.41B | 1.34B | 1.64B | 1.39B | 1.37B | 918.11M |
| Last Close Price | 23.53 | 16.27 | 18.72 | 26.73 | 43.94 | 30.80 |
| PE Ratio | 5.44 | 9.79 | 10.49 | |||
| Forward PE | 7.68 | 7.68 | 6.03 | 8.94 | 11.03 | |
| PS Ratio | 0.23 | 0.15 | 0.16 | 0.22 | 0.45 | 0.40 |
| PB Ratio | 0.97 | 0.64 | 0.69 | 0.92 | 1.83 | 1.57 |
| P/TBV Ratio | 1.23 | 0.81 | 0.85 | 1.12 | 2.02 | 1.64 |
| P/FCF Ratio | 10.87 | 3.23 | 23.13 | 5.63 | ||
| P/OCF Ratio | 8.64 | 2.71 | 6.07 | 91.00 | 4.30 | |
| PEG Ratio | 0.31 | 0.31 | 0.24 | 0.36 | 0.44 | |
| EV/Sales Ratio | 0.61 | 0.55 | 0.60 | 0.50 | 0.62 | 0.54 |
| EV/EBITDA Ratio | 42.95 | 38.31 | 36.78 | 6.92 | 8.34 | 8.07 |
| EV/EBIT Ratio | 279.50 | 8.21 | 9.85 | 10.01 | ||
| EV/FCF Ratio | 28.31 | 11.61 | 88.64 | 7.57 | ||
| Debt / Equity Ratio | 1.61 | 1.44 | 1.63 | 1.64 | 0.78 | 0.67 |
| Debt / EBITDA Ratio | 23.59 | 20.08 | 18.63 | 5.06 | 2.32 | 2.23 |
| Debt / FCF Ratio | 18.03 | 7.24 | 54.34 | 2.39 | ||
| Net Debt / Equity Ratio | 1.55 | 1.39 | 1.57 | 1.58 | 0.69 | 0.33 |
| Net Debt / EBITDA Ratio | 26.45 | 23.08 | 21.74 | 5.19 | 2.26 | 1.27 |
| Net Debt / FCF Ratio | 17.44 | 6.99 | 52.39 | -10.98 | -14.09 | 1.19 |
| Asset Turnover | 1.31 | 1.42 | 1.42 | 1.73 | 2.07 | 1.94 |
| Inventory Turnover | 1.86 | 2.03 | 1.91 | 2.22 | 3.14 | 3.28 |
| Quick Ratio | 0.17 | 0.20 | 0.16 | 0.17 | 0.28 | 0.64 |
| Current Ratio | 1.35 | 1.41 | 1.34 | 1.32 | 1.75 | 1.84 |
| Return on Equity (ROE) | -9.71% | -9.08% | -5.80% | 18.83% | 20.97% | 16.38% |
| Return on Assets (ROA) | -0.18% | -0.10% | 0.19% | 6.64% | 8.16% | 6.50% |
| Return on Invested Capital (ROIC) | -0.35% | -0.18% | 0.36% | 9.65% | 14.12% | 11.80% |
| Return on Capital Employed (ROCE) | -0.60% | -0.30% | 0.70% | 20.10% | 20.20% | 16.00% |
| Earnings Yield | -10.56% | -14.56% | -8.65% | 18.64% | 10.35% | 9.67% |
| FCF Yield | 9.20% | 30.92% | 4.32% | -15.69% | -2.68% | 17.76% |
| Buyback Yield / Dilution | -0.74% | -0.63% | -0.48% | -0.53% | -0.59% | -0.65% |