CNH Industrial (CNH)
NYSE:CNH
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CNH Industrial
(NYSE:CNH)
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Rating:56Neutral
Price Target:
$11.00
▼(-4.93% Downside)
Action:ReiteratedDate:03/31/26
Overall score reflects pressured fundamentals and cautious 2026 outlook (weaker margins/earnings and subdued guidance) partially offset by solid 2025 operating/free cash flow and measurable cost-savings progress. Technicals are also soft (below key moving averages with negative MACD), while valuation is only moderately supportive given the current earnings headwinds.
Positive Factors
Robust cash generation (2025)
Strong 2025 operating cash flow and positive free cash flow provide durable liquidity to fund capex, service working capital swings, and support the business through cyclical troughs. Consistent ability to convert operations into cash underpins financial resilience over the next 2–6 months.
Negative Factors
High leverage and reporting uncertainty
Historically elevated leverage in a cyclical machinery business increases refinancing and liquidity risk during downturns. The 2025 reporting discontinuity on debt creates uncertainty about true indebtedness and covenant/maturity profiles, weakening confidence in balance‑sheet durability over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Robust cash generation (2025)
Strong 2025 operating cash flow and positive free cash flow provide durable liquidity to fund capex, service working capital swings, and support the business through cyclical troughs. Consistent ability to convert operations into cash underpins financial resilience over the next 2–6 months.
Read all positive factors
CNH Industrial (CNH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$14.36B
Dividend Yield2.67%
Average Volume (3M)15.90M
Price to Earnings (P/E)22.6
Beta (1Y)0.92
Revenue Growth-18.10%
EPS Growth-65.24%
CountryUS
Employees35,850
SectorIndustrials
Sector Strength72
IndustryAgricultural - Machinery
Share Statistics
EPS (TTM)0.19
Shares Outstanding1,240,946,500
10 Day Avg. Volume14,715,605
30 Day Avg. Volume15,899,807
Financial Highlights & Ratios
PEG Ratio-0.39
Price to Book (P/B)1.49
Price to Sales (P/S)0.64
P/FCF Ratio5.77
Enterprise Value/Market Cap2.66
Enterprise Value/Revenue2.11
Enterprise Value/Gross Profit6.69
Enterprise Value/Ebitda13.81
Forecast
1Y Price Target
$13.27Price Target Upside14.69% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)0.41
Revenue Forecast (FY)$17.79B
CNH Industrial Business Overview & Revenue Model
Company Description
CNH Industrial is a global manufacturer of heavy machinery, with a range of products including agricultural and construction equipment. One of its most recognizable brands, Case IH, has served farmers for generations. The company's products are av...
How the Company Makes Money
CNH Industrial makes money mainly by selling agricultural and construction equipment (the largest source of revenue), including tractors, harvesters, planting and seeding equipment, hay and forage equipment, and construction machinery such as back...
CNH Industrial Key Performance Indicators (KPIs)
CNH Industrial Earnings Call Summary
Earnings Call Date:Feb 17, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Neutral
The call balanced operational and strategic progress (notable Q4 improvements, material cost and quality savings, product and tech pipeline, sustainability recognition, and dealer network consolidation) against sizable headwinds (full-year revenue decline, margin pressure from tariffs and mix, weak regional demand especially in North and South America, and cautious 2026 guidance with a weak Q1). The company is making measurable progress on long-term initiatives, but near-term financial outlook remains constrained by macro and tariff-driven pressures.Positive Updates
Q4 Revenue Growth
Consolidated Q4 revenues of $5.2 billion, up 6% year-over-year versus a weak Q4 2024 comparison; industrial net sales up 8% YoY to nearly $4.5 billion.
Negative Updates
Full-Year Revenue and Industrial Decline
2025 consolidated revenues down 9% year-over-year with industrial sales decreasing double digits, reflecting a weak full-year demand environment.
Read all updates
Q4-2025 Updates
Positive
Negative
Q4 Revenue Growth
Consolidated Q4 revenues of $5.2 billion, up 6% year-over-year versus a weak Q4 2024 comparison; industrial net sales up 8% YoY to nearly $4.5 billion.
Read all positive updates
Company Guidance
CNH guided 2026 industrial net sales to be flat to down ~4% year‑over‑year with an industrial adjusted EBIT margin of 2.5%–3.5%; Agriculture net sales are expected to be flat to down ~5% (including ~+2% FX translation and +1.5%–2% pricing) with Ag EBIT margin of 4.5%–5.5% (tariff headwind rising to ~210–220 bps in 2026 from 110 bps in 2025, an additional geo/product mix drag up to ~50 bps, and cost/savings actions expected to add ~50–75 bps), Construction sales roughly flat with EBIT margin of 1%–2% (tariffs ~500 bps headwind). Corporate guidance also assumes R&D roughly flat, CapEx of $600M–$650M, industrial free cash flow $150M–$350M, an effective tax rate of 24%–26%, and adjusted EPS of $0.35–$0.45 on ~1.29B average shares. Near‑term cadence: Q1 sales typically decline low–mid 20s% sequentially (Ag down low 30s%), Q1 Ag EBIT roughly breakeven ± and Construction EBIT likely negative, with a larger seasonal FCF outflow versus Q1 2025; management expects second‑half margin recovery. Context: cumulative cost savings reached $230M in 2025 toward a $550M 2030 target, 2025 consolidated revenues were down 9% for the year while Q4 consolidated revenues were $5.2B (Q4 adj. EPS $0.19).CNH Industrial Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
54
Neutral
Cash Flow
68
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 18.09B | 19.84B | 24.69B | 23.55B | 19.49B |
| Gross Profit | 5.71B | 6.49B | 7.85B | 6.97B | 5.40B |
| EBITDA | 2.80B | 3.67B | 4.61B | 3.88B | 2.98B |
| Net Income | 510.00M | 1.25B | 2.27B | 2.03B | 1.72B |
Balance Sheet | |||||
| Total Assets | 42.75B | 42.93B | 46.27B | 39.38B | 49.42B |
| Cash, Cash Equivalents and Short-Term Investments | 3.23B | 3.19B | 4.32B | 4.38B | 5.04B |
| Total Debt | 27.03B | 27.16B | 27.63B | 23.19B | 31.16B |
| Total Liabilities | 34.92B | 35.16B | 38.12B | 32.41B | 42.56B |
| Stockholders Equity | 7.73B | 7.65B | 8.03B | 6.93B | 6.78B |
Cash Flow | |||||
| Free Cash Flow | 2.00B | 782.00M | -288.00M | -442.00M | 3.16B |
| Operating Cash Flow | 2.54B | 1.97B | 907.00M | 557.00M | 4.08B |
| Investing Cash Flow | -1.38B | -2.77B | -3.70B | -3.01B | -5.00B |
| Financing Cash Flow | -2.02B | -67.00M | 2.60B | 1.96B | -1.45B |
CNH Industrial Technical Analysis
Positive
11.57
Price Trends
11.50
Positive
10.69
Positive
11.18
Positive
Market Momentum
<0.01
Negative
57.96
Neutral
88.05
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNH, the sentiment is Positive. The current price of 11.57 is above the 20-day moving average (MA) of 10.75, above the 50-day MA of 11.50, and above the 200-day MA of 11.18, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 57.96 is Neutral, neither overbought nor oversold. The STOCH value of 88.05 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CNH.
CNH Industrial Risk Analysis
CNH Industrial disclosed 45 risk factors in its most recent earnings report. CNH Industrial reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
CNH Industrial Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $367.88B | 30.12 | 45.10% | 0.98% | -1.51% | -9.69% | |
73 Outperform | $163.41B | 54.83 | 18.93% | 1.34% | -11.66% | -27.80% | |
72 Outperform | $66.89B | 24.25 | 12.57% | 3.83% | -15.29% | -42.93% | |
66 Neutral | $8.78B | 10.68 | 17.36% | 1.10% | -20.09% | 121.28% | |
66 Neutral | $9.49B | 12.46 | 14.57% | 1.56% | -2.28% | -0.53% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | $14.36B | 22.56 | 6.58% | 2.67% | -18.10% | -65.24% |
* Industrials Sector Average
CNH
CNH Industrial
11.57
0.16
1.40%
AGCO
Agco
121.23
36.26
42.68%
CAT
Caterpillar
790.66
496.59
168.87%
DE
Deere
605.00
143.38
31.06%
OSK
Oshkosh
151.79
66.96
78.94%
PCAR
Paccar
127.19
39.88
45.68%
CNH Industrial Corporate Events
Business Operations and StrategyPrivate Placements and Financing
CNH Industrial Extends €3.25 Billion Revolving Credit Facility
Positive
Mar 31, 2026
On March 26, 2026, CNH Industrial N.V. agreed with Citibank Europe Plc, UK Branch, to extend the maturity of its €3.25 billion committed credit facility to April 18, 2031, reinforcing the group’s access to long-term liquidity and finan...
Executive/Board ChangesShareholder Meetings
CNH Industrial Announces Board Changes and Director Nominations
Neutral
Mar 26, 2026
On March 24, 2026, CNH Industrial said board members Asa Tamsons and Richard J. Kramer informed the company they will not stand for re-election, with their terms to end at the conclusion of the 2026 Annual Stockholders Meeting. The company stated ...
Business Operations and StrategyFinancial Disclosures
CNH Industrial Reports Mixed Q4 2025 Results Amid Downturn
Negative
Feb 17, 2026
On February 17, 2026, CNH Industrial reported fourth-quarter 2025 net income of $89 million, down from $176 million a year earlier, on consolidated revenues of $5.16 billion, up 6% year-on-year, with Industrial Activities net sales rising 8% to $4...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.