(TITN) Titan Machinery - NASDAQ
Sector: Industrials | Industry: Industrial Distribution | Exchange: NASDAQ (USA) | Market Cap: 444m USD | Total Return: 2.7% in 12m
Avg Turnover: 4.42M
Qual. Beats: 0
Rev. Trend: -38.7%
Qual. Beats: 0
Warnings
High Debt/EBITDA (6.9) with thin interest coverage (-0.1)
Interest Coverage Ratio -0.1 is critical
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Titan Machinery Inc. (TITN) operates an international network of full-service agricultural and construction equipment dealerships. The company functions through four geographic and product-based segments: Agriculture, Construction, Europe, and Australia. Its business model centers on the sale of new and used machinery, primarily representing CNH Industrial brands, supplemented by a recurring revenue stream from maintenance services, replacement parts, and equipment rentals.
The agricultural equipment sector is highly cyclical, with demand closely tied to farm net income, commodity prices, and crop yields. Titan Machinery mitigates this volatility by providing technical support services, including precision farming GPS subscriptions and data management products, which integrate technology into traditional hardware sales.
The company maintains a significant footprint across the U.S. Midwest and Great Plains, while its international operations focus on key grain-producing regions in Eastern Europe and Australia. Investors may find it useful to examine ValueRay for deeper insights into the companys valuation metrics. Headquartered in West Fargo, North Dakota, the firm has expanded its distribution network through both organic growth and strategic acquisitions since its founding in 1980.
- CNH Industrial product availability and pricing dictate inventory levels and sales margins
- Global agricultural commodity prices drive farmer capital expenditure and equipment demand
- Expansion into Australian and European markets increases exposure to international currency fluctuations
- High interest rates elevate floorplan financing costs and reduce customer purchasing power
- Parts and service revenue provides high-margin stability during cyclical equipment sales downturns
| Net Income: -53.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA 4.76 > 1.0 |
| NWC/Revenue: 12.58% < 20% (prev 11.88%; Δ 0.70% < -1%) |
| CFO/TA 0.14 > 3% & CFO 232.9m > Net Income -53.6m |
| Net Debt (243.9m) to EBITDA (35.1m): 6.94 < 3 |
| Current Ratio: 1.38 > 1.5 & < 3 |
| Outstanding Shares: last quarter (22.8m) vs 12m ago 0.79% < -2% |
| Gross Margin: 16.17% > 18% (prev 13.67%; Δ 2.50% > 0.5%) |
| Asset Turnover: 138.0% > 50% (prev 148.4%; Δ -10.37% > 0%) |
| Interest Coverage Ratio: -0.08 > 6 (EBIT TTM -2.55m / Interest Expense TTM 32.8m) |
| A: 0.18 (Total Current Assets 1.08b - Total Current Liabilities 788.5m) / Total Assets 1.61b |
| B: 0.18 (Retained Earnings 293.5m / Total Assets 1.61b) |
| C: -0.00 (EBIT TTM -2.55m / Avg Total Assets 1.71b) |
| D: 2.18 (Book Value of Equity 566.5m / Total Liabilities 259.8m) |
| Altman-Z'' = 4.07 = AA |
| DSRI: 1.00 (Receivables 109.6m/124.0m, Revenue 2.36b/2.67b) |
| GMI: 0.85 (GM 13.67% / 16.17%) |
| AQI: 1.12 (AQ_t 0.07 / AQ_t-1 0.07) |
| SGI: 0.88 (Revenue 2.36b / 2.67b) |
| TATA: -0.18 (NI -53.6m - CFO 232.9m) / TA 1.61b) |
| Beneish M = -3.20 (Cap -4..+1) = AA |
As of June 15, 2026, the stock is trading at USD 20.26 with a total of 293,124 shares traded.
Over the past week, the price has changed by -12.60%,
over one month by +0.55%,
over three months by +23.99% and
over the past year by +2.69%.
Titan Machinery has received a consensus analysts rating of 4.20. Therefore, it is recommended to buy TITN.
- StrongBuy: 3
- Buy: 0
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 23 | 13.5% |
P/E Forward = 44.0529
P/S = 0.1885
P/B = 0.8211
P/EG = 1.7656
Revenue TTM = 2.36b USD
EBIT TTM = -2.55m USD
EBITDA TTM = 35.1m USD
Long Term Debt = 150.5m USD (from longTermDebt, last quarter)
Short Term Debt = 30.2m USD (from shortTermDebt, last quarter)
Debt = 273.4m USD (corrected: LT Debt 150.5m + ST Debt 30.2m) + Leases 92.7m
Net Debt = 243.9m USD (calculated: Debt 273.4m - CCE 29.6m)
Enterprise Value = 687.8m USD (443.9m + Debt 273.4m - CCE 29.6m)
Interest Coverage Ratio = -0.08 (Ebit TTM -2.55m / Interest Expense TTM 32.8m)
EV/FCF = 3.18x (Enterprise Value 687.8m / FCF TTM 216.0m)
FCF Yield = 31.40% (FCF TTM 216.0m / Enterprise Value 687.8m)
FCF Margin = 9.17% (FCF TTM 216.0m / Revenue TTM 2.36b)
Net Margin = -2.28% (Net Income TTM -53.6m / Revenue TTM 2.36b)
Gross Margin = 16.17% ((Revenue TTM 2.36b - Cost of Revenue TTM 1.97b) / Revenue TTM)
Gross Margin QoQ = 17.09% (prev 13.55%)
Tobins Q-Ratio = 0.43 (Enterprise Value 687.8m / Total Assets 1.61b)
Interest Expense / Debt = 12.01% (Interest Expense 32.8m / Debt 273.4m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -2.01m (EBIT -2.55m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.38 (Total Current Assets 1.08b / Total Current Liabilities 788.5m)
Debt / Equity = 0.48 (Debt 273.4m / totalStockholderEquity, last quarter 566.5m)
Debt / EBITDA = 6.94 (Net Debt 243.9m / EBITDA 35.1m)
Debt / FCF = 1.13 (Net Debt 243.9m / FCF TTM 216.0m)
Total Stockholder Equity = 592.2m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.14% (Net Income -53.6m / Total Assets 1.61b)
RoE = -9.05% (Net Income TTM -53.6m / Total Stockholder Equity 592.2m)
RoCE = -0.34% (EBIT -2.55m / Capital Employed (Equity 592.2m + L.T.Debt 150.5m))
RoIC = -0.24% (negative operating profit) (NOPAT -2.01m / Invested Capital 826.9m)
WACC = 11.04% (E(443.9m)/V(717.3m) * Re(12.0%) + D(273.4m)/V(717.3m) * Rd(12.01%) * (1-Tc(0.21)))
Discount Rate = 12.0% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 60.0 | Cagr: 0.00%
[DCF] Terminal Value 69.77% ; FCFF base≈191.5m ; Y1≈219.5m ; Y5≈323.1m
[DCF] Fair Price = 130.8 (EV 3.29b - Net Debt 243.9m = Equity 3.05b / Shares 23.3m; r=11.04% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.03 | # QB: 0
Revenue Correlation: -38.72 | Revenue CAGR: -2.64% | SUE: 0.67 | # QB: 0
EPS current Quarter (2026-07-31): EPS=-0.34 | Chg30d=-33.01% | Revisions=+20% | Analysts=4
EPS next Quarter (2026-10-31): EPS=0.01 | Chg30d=N/A | Revisions=+20% | Analysts=1
EPS current Year (2027-01-31): EPS=-1.46 | Chg30d=-24.79% | Revisions=+20% | GrowthEPS=+34.2% | GrowthRev=-13.3%
EPS next Year (2028-01-31): EPS=-0.55 | Chg30d=-200.05% | Revisions=+0% | GrowthEPS=+62.3% | GrowthRev=+3.0%
[Analyst] Revisions Ratio: +20%