TEREX CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TEREX CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	4,443	3,794	4,517	4,353	3,076	3,887	4,418	5,152	5,127	5,421
Cost of revenue	3,731	3,026	3,555	3,465	2,537	3,129	3,547	3,975	4,059	4,370
Gross profit	712	767	962	888	539	757	871	1,177	1,068	1,051
Research and development	86.2	55.6	63.2	72.4	58.9	52.2	22	28	25	39
Selling, general and administrative	678	539	549	553	471	429	451	540	542	576
Operating income	-142	228	413	335	68.4	328	420	637	526	475
Interest expense	102	67.2	72.8	87.9	65.9	51.5	49	63	89	177
Interest income	4.3	6.3	8.7	6.5	3.6	3.7	3	7	13	12
Other non-operating income	-30.8	48.7	-60.6	-6.1	4.9	13	-7	-1	-42	-18
Pre-tax income	-271	163	287	248	11	264	367	580	408	292
Income tax	-77.4	52.4	45.4	37.8	2	46.3	67	63	73	71
Income from continuing operations	-193	111	242	210	9	218	300	517	335	221
Net income	-176	129	114	54.4	-10.6	221	300	518	335	221
EBITDA	-67.5	281	458	381	118	378	467	693	608	632
EPS, basic	-1.63	1.39	1.51	0.77	-0.15	3.17	4.38	7.67	5.00	3.36
EPS, diluted	-1.63	1.36	1.48	0.76	-0.15	3.12	4.32	7.58	4.96	3.33
Shares, basic (weighted)	108	92.8	75.4	71.1	69.6	69.7	68.5	67.5	67	65.8
Shares, diluted (weighted)	108	94.9	76.9	71.8	70.1	70.9	69.4	68.3	67.6	66.3
Dividend per share	0.07

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	429	572	340	535	665	267	304	371	388	772
Receivables	513	580	535	402	381	508	548	548	643	712
Inventory	854	970	919	848	610	814	988	1,186	1,147	1,109
Other current assets	173	207	170	235	222	180	122	140	142	132
Total current assets	2,701	2,383	2,423	2,020	1,879	1,768	1,962	2,245	2,320	2,725
Property, plant and equipment	305	311	317	389	407	430	466	570	714	760
Lease right-of-use assets				123	103	99.2	89.4	126	136	126
Goodwill	260	274	265	270	275	280	284	295	1,093	1,091
Intangible assets	18.4	13.8	11.4	9.7	8.3	13.4	17.4	16	1,107	1,027
Other non-current assets	552	481	401	507	463	373	389	489	496	329
Total assets	5,007	3,463	3,486	3,196	3,032	2,864	3,118	3,615	5,730	6,139
Accounts payable	523	592	687	508	370	538	625	703	580	683
Accrued liabilities	125	160	123	100	85.8	109	103	135	117	123
Deferred revenue								5	20	44
Short-term debt	13.8	5.2	4.1	6.9	7.6	5.6	1.9	3	4	6
Total current liabilities	1,407	1,036	1,215	872	723	910	999	1,119	1,073	1,187
Long-term debt	1,562	980	1,211	1,169	1,166	669	774	620	2,580	2,578
Lease liabilities				105	82.9	73.1	62.8	92	103	96
Other non-current liabilities	50.7	73.6	113	222	221	176	165	204	245	251
Total liabilities	3,486	2,240	2,625	2,263	2,110	1,754	1,937	1,943	3,898	4,044
Total debt	1,573	982	1,217	1,172	1,169	671	777	601	2,600	2,592
Paid-in capital	1,300	1,322	797	824	838	860	882	906	921	942
Retained earnings	1,898	1,996	749	771	750	937	1,201	1,675	1,964	2,139
Treasury stock	-935	-1,858	-402	-407	-459	-460	-560	-623	-672	-722
Other comprehensive income	-779	-240	-285	-258	-208	-229	-342	-287	-382	-265
Shareholders' equity	1,485	1,222	861	932
Minority interests	36.5	0.5	0.5	0
Total equity	1,521	1,223	861	932	922	1,109	1,181	1,672	1,832	2,095
Total liabilities and equity	5,007	3,463	3,486	3,196	3,032	2,864	3,118	3,615	5,730	6,139

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-176	129	114	54.4	-10.6	221	300	518	335	221
Depreciation and amortization	74.3	53	45.3	46.4	49.7	50.2	47	56	82	157
Stock-based compensation	37.8	38.5	36.7	43.1	23.8	33.1	30	44	30	32
Deferred income tax	-153	37.6	-9	-16.2	5.5	1.2	-1	-38	-10	-3
Change in receivables	33	-0.5	-108	176	16.1	-139	-55	11	16	-46
Change in inventory	97.3	-33.5	-284	20.3	262	-230	-206	-200	77	39
Change in payables	-21	25	213	-220	-157	173	96	58	-241	118
Cash from operations	377	153	94.2	173	225	293	261	459	326	440
Capital expenditures	-58.1	-31.7	-91	-106	-64.5	-59.7	-110	-127	-137	-118
Acquisitions				0	0	-42.7	-50	-24	-2,001	0
Cash from investing	-11.8	1,536	-85.9	104	-38.5	-102	-154	-114	-2,127	32
Debt issued	1,098	1,011	1,382	1,617	170	600	321	243	2,217	97
Debt repaid	-1,286	-1,594	-1,150	-1,661	-176	-1,104	-224	-402	-222	-104
Share buybacks	-82.7	-925	-428	-7.4	-56	-3	-101	-63	-49	-56
Dividends paid	-30	-29.5	-30	-31.4	-8.4	-33.5	-36	-43	-46	-45
Cash from financing	-310	-1,607	-245	-104	-82.8	-580	-55	-288	1,837	-123
Exchange rate effect	-19.7	46.1	-21.4	-5.5	25.9	-14.3	-15	10	-19	35
Net change in cash	35.4	128	-258	168	130	-403	37	67	17	384
Free cash flow	319	121	3.2	67.9	161	234	151	332	189	322
Interest paid	96.2	59.2	57.5	70.9	58.1	51.3	37	39	53	156
Income taxes paid	52.8	29	52.7	46.8	26.3	28.4	20	86	79	43

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $57.33 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	17.2%	Gross profit / revenue.
Operating margin	5.7%	Operating income / revenue.
EBITDA margin	9.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	2.8%	Pre-tax income / revenue.
Net margin	2.2%	Net income / revenue.
Operating cash flow margin	6.8%	Cash from operations / revenue.
Effective tax rate	23.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	1.4%	Net income / average total assets.
SG&A / revenue	10.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.0%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	3.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	12.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-1.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	6.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	14.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-9.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	4.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	47.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	3.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	10.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	39.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-34.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-9.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-32.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-8.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	35.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	19.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	14.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	70.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	28.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	14.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	25.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	15.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.82x	Current assets / current liabilities.
Quick ratio	0.84x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.22x	(Cash + short-term investments) / current liabilities.
Debt / assets	25.9%	Total debt / total assets.
Liabilities / assets	52.4%	Total liabilities / total assets.
Net debt	$2.28B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	3.66x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$1.52B	Current assets - current liabilities.
Goodwill and intangibles / assets	52.8%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.65x	Revenue / average total assets.
Fixed asset turnover	6.91x	Revenue / average property, plant and equipment.
Inventory turnover	3.32x	Cost of revenue / average inventory.
Days inventory	110 days	365 x average inventory / cost of revenue.
Receivables turnover	5.77x	Revenue / average receivables.
Days sales outstanding	63 days	365 x average receivables / revenue.
Days payables	68 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	105 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.30	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$58.47	Revenue / diluted weighted shares.
Operating cash flow per share	$3.99	Cash from operations / diluted weighted shares.
Cash per share	$3.56	(Cash + short-term investments) / shares outstanding.
Payout ratio	41.6%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$6.55B	Share price x shares outstanding.
Enterprise value	$8.83B	Market cap + total debt - cash - short-term investments.
P/E	44.0x	Market cap / net income. Only when net income is positive.
P/S	0.98x	Market cap / revenue.
P/OCF	14.4x	Market cap / cash from operations, when positive.
EV/Sales	1.32x	Enterprise value / revenue.
EV/EBIT	23.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	14.2x	Enterprise value / EBITDA, when both are positive.
Earnings yield	2.3%	Net income / market cap (the inverse of P/E).
Dividend yield	0.9%	Dividends paid over the period / market cap.
Shareholder yield	1.0%	(Dividends paid + share buybacks) / market cap.

What was TEREX CORP's revenue in fiscal 2025?

TEREX CORP reported revenue of $5.42B for fiscal 2025, 5.7% higher than the year before.

Was TEREX CORP profitable in fiscal 2025?

Yes. Net income was $221.0M, a net margin of 4.1%.

How much free cash flow did TEREX CORP generate in fiscal 2025?

Cash from operations of $440.0M minus capital expenditures of $118.0M left free cash flow of $322.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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