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CNH Industrial (CNH) Financials

CNH Industrial logo
$10.13 -0.02 (-0.23%)
Closing price 03:59 PM Eastern
Extended Trading
$10.12 -0.01 (-0.12%)
As of 07:26 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for CNH Industrial

Annual Income Statements for CNH Industrial

This table shows CNH Industrial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 253 -264 272 1,068 1,422 -493 1,723 2,029 2,275 1,246 510
Consolidated Net Income / (Loss)		 248 -261 290 1,099 1,454 -438 1,760 2,039 2,287 1,259 505
Net Income / (Loss) Continuing Operations		 248 -261 290 1,099 1,454 -198 1,801 2,039 2,287 1,259 505
Total Pre-Tax Income 		567 -22 659 1,466 1,170 -179 1,939 2,682 2,703 1,457 620
Total Operating Income		 567 -22 659 1,466 1,170 -179 1,939 3,416 4,048 3,068 2,102
Total Gross Profit		 5,555 5,675 6,129 6,748 6,247 3,627 5,387 6,065 7,849 6,486 5,706
Total Revenue		 25,912 25,095 27,701 29,706 28,079 14,779 19,496 23,551 24,687 19,836 18,095
Operating Revenue		 25,912 25,095 27,701 29,706 28,079 14,779 19,496 23,551 24,687 19,836 18,095
Total Cost of Revenue		 20,357 19,420 21,572 22,958 21,832 11,152 14,109 17,486 16,838 13,350 12,389
Operating Cost of Revenue		 20,357 19,420 21,572 22,958 21,832 11,152 14,109 17,486 16,838 13,350 12,389
Total Operating Expenses		 4,988 5,697 5,470 5,282 5,077 3,806 3,448 2,649 3,801 3,418 3,604
Selling, General & Admin Expense		 2,317 2,246 2,315 2,351 2,216 1,296 1,454 1,752 1,863 1,712 1,876
Research & Development Expense		 856 860 957 1,061 1,030 493 642 866 1,041 924 1,025
Other Operating Expenses / (Income)		 1,731 2,547 2,105 1,809 1,722 1,410 1,317 - 830 664 681
Restructuring Charge		 84 44 93 61 109 22 35 31 67 118 22
Total Other Income / (Expense), net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -734 -1,345 -1,611 -1,482
Interest Expense		 - - - - - - - 734 1,345 1,611 1,482
Income Tax Expense		 360 297 457 417 -271 85 229 747 594 336 184
Other Gains / (Losses), net		 41 58 88 50 13 66 91 104 178 138 69
Net Income / (Loss) Attributable to Noncontrolling Interest		 -5.00 3.00 18 31 32 55 37 10 12 13 -5.00
Basic Earnings per Share		 $0.19 ($0.19) $0.20 $0.79 $1.05 ($0.36) $1.27 $1.50 $1.71 $0.99 $0.41
Weighted Average Basic Shares Outstanding		 1.36B 1.36B 1.36B 1.35B 1.35B 1.35B 1.35B 1.35B 1.33B 1.25B 1.25B
Diluted Earnings per Share		 $0.19 ($0.19) $0.20 $0.78 $1.05 ($0.36) $1.27 $1.49 $1.69 $0.99 $0.41
Weighted Average Diluted Shares Outstanding		 1.36B 1.36B 1.36B 1.35B 1.35B 1.35B 1.36B 1.36B 1.35B 1.26B 1.25B
Weighted Average Basic & Diluted Shares Outstanding		 1.36B 1.36B 1.36B 1.35B 1.35B 1.35B 1.36B 1.34B 1.26B 1.25B 1.24B
Cash Dividends to Common per Share		 $0.21 $0.15 $0.12 $0.17 $0.20 $0.00 $0.13 $0.30 $0.40 $0.47 $0.25

Quarterly Income Statements for CNH Industrial

This table shows CNH Industrial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 537 550 368 399 306 106 131 213 80 86 7.00
Consolidated Net Income / (Loss)		 540 551 369 404 310 109 132 217 67 89 10
Net Income / (Loss) Continuing Operations		 540 551 369 404 310 109 132 217 67 89 10
Total Pre-Tax Income 		662 577 402 454 360 241 162 275 51 132 13
Total Operating Income		 662 1,922 796 872 738 1,852 524 635 429 514 378
Total Gross Profit		 1,927 1,257 1,623 1,786 1,524 889 1,259 1,519 1,404 1,524 1,221
Total Revenue		 5,986 5,962 4,818 5,488 4,654 4,876 3,828 4,711 4,399 5,157 3,826
Operating Revenue		 5,986 5,962 4,818 5,488 4,654 4,876 3,828 4,711 4,399 5,157 3,826
Total Cost of Revenue		 4,059 4,705 3,195 3,702 3,130 3,987 2,569 3,192 2,995 3,633 2,605
Operating Cost of Revenue		 4,059 4,705 3,195 3,702 3,130 3,987 2,569 3,192 2,995 3,633 2,605
Total Operating Expenses		 1,265 -665 827 914 786 -963 735 884 975 1,010 843
Selling, General & Admin Expense		 462 478 411 461 426 414 386 478 549 463 465
Research & Development Expense		 266 275 228 237 221 238 184 218 281 342 232
Other Operating Expenses / (Income)		 532 - 157 165 127 - 159 183 142 197 142
Restructuring Charge		 5.00 59 31 51 12 24 6.00 5.00 3.00 8.00 4.00
Total Other Income / (Expense), net		 0.00 -1,345 -394 -418 -378 -1,611 -362 -360 -378 -382 -365
Interest Expense		 - - 394 418 378 - 362 360 378 382 365
Income Tax Expense		 171 58 77 95 75 89 47 76 1.00 60 4.00
Other Gains / (Losses), net		 49 32 44 45 25 -43 17 18 17 17 1.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 3.00 1.00 1.00 5.00 4.00 3.00 1.00 4.00 -13 3.00 3.00
Basic Earnings per Share		 $0.40 $0.42 $0.29 $0.32 $0.24 $0.09 $0.10 $0.17 $0.06 $0.08 $0.01
Weighted Average Basic Shares Outstanding		 1.33B 1.33B 1.26B 1.26B 1.25B 1.25B 1.25B 1.25B 1.25B 1.25B 1.24B
Diluted Earnings per Share		 $0.40 $0.42 $0.29 $0.32 $0.24 $0.10 $0.10 $0.17 $0.06 $0.08 $0.01
Weighted Average Diluted Shares Outstanding		 1.35B 1.35B 1.27B 1.26B 1.25B 1.26B 1.25B 1.25B 1.25B 1.25B 1.24B
Weighted Average Basic & Diluted Shares Outstanding		 1.33B 1.26B 1.26B 1.25B 1.25B 1.25B 1.25B 1.25B 1.25B 1.24B 1.24B

Annual Cash Flow Statements for CNH Industrial

This table details how cash moves in and out of CNH Industrial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 221 -457 346 -397 -30 3,856 -2,767 -716 -84 -1,179 -637
Net Cash From Operating Activities		 2,706 2,768 2,865 2,554 1,826 5,529 4,082 557 907 1,968 2,538
Net Cash From Continuing Operating Activities		 2,786 2,768 2,865 2,554 1,826 4,188 3,198 557 907 1,968 2,538
Net Income / (Loss) Continuing Operations		 248 -261 290 1,099 1,454 -198 1,801 2,039 2,287 1,259 505
Consolidated Net Income / (Loss)		 248 -261 290 1,099 1,454 -438 1,760 2,039 2,287 1,259 505
Depreciation Expense		 1,146 1,261 1,350 1,337 1,215 538 537 535 564 605 629
Non-Cash Adjustments To Reconcile Net Income		 289 269 518 131 125 922 198 274 979 125 328
Changes in Operating Assets and Liabilities, net		 1,023 1,499 707 -13 -968 2,926 662 -2,291 -2,923 -21 1,076
Net Cash From Investing Activities		 -948 -1,656 -1,869 -1,920 -1,987 -2,750 -5,001 -3,009 -3,699 -2,772 -1,380
Net Cash From Continuing Investing Activities		 -948 -1,656 -1,869 -1,920 -1,987 -1,955 -4,570 -3,009 -3,699 -2,772 -1,380
Purchase of Property, Plant & Equipment		 -2,507 -2,134 -2,235 -558 -1,962 -846 -365 -999 -1,195 -536 -1,198
Purchase of Investments		 -4,498 -3,951 -4,078 -4,269 -4,145 -4,459 -5,328 -5,971 -8,069 -8,227 -7,554
Sale and/or Maturity of Investments		 5,146 4,569 4,384 4,016 4,219 3,964 4,338 4,360 5,824 6,459 7,508
Other Investing Activities, net		 174 -152 43 -1,116 -160 -614 -3,215 -496 -259 -468 -136
Net Cash From Financing Activities		 -919 -1,538 -1,045 -723 206 659 -1,445 1,964 2,598 -67 -2,020
Net Cash From Continuing Financing Activities		 -919 -1,538 -1,045 -723 206 1,066 -1,399 1,964 2,598 -67 -2,020
Repayment of Debt		 -10,549 -13,960 -16,773 -16,691 -12,708 -7,814 -9,199 -8,796 -6,805 -14,571 -14,672
Payment of Dividends		 -297 -207 -168 -243 -283 -8.00 -188 -423 -538 -607 -333
Issuance of Debt		 9,927 12,629 15,896 16,211 13,197 8,888 7,988 11,183 9,941 15,111 12,985
Effect of Exchange Rate Changes		 -698 -31 395 -308 -75 418 -403 -228 110 -308 225

Quarterly Cash Flow Statements for CNH Industrial

This table details how cash moves in and out of CNH Industrial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -240 1,360 -1,086 -1,312 -197 1,416 -1,468 749 -191 273 -890
Net Cash From Operating Activities		 232 1,515 -894 379 791 1,692 162 772 659 945 35
Net Cash From Continuing Operating Activities		 232 1,515 -894 379 791 1,692 162 772 659 945 35
Net Income / (Loss) Continuing Operations		 508 583 369 404 310 176 132 217 67 89 10
Consolidated Net Income / (Loss)		 508 583 369 404 310 176 132 217 67 89 10
Depreciation Expense		 146 148 148 151 155 151 150 156 159 164 166
Non-Cash Adjustments To Reconcile Net Income		 215 267 -26 256 74 -179 -88 129 138 149 -24
Changes in Operating Assets and Liabilities, net		 -637 517 -1,385 -432 252 1,544 -32 270 295 543 -117
Net Cash From Investing Activities		 -795 -1,657 -419 -510 -848 -995 -280 -342 -466 -292 54
Net Cash From Continuing Investing Activities		 -795 -1,656 -419 -511 -847 -994 -280 -342 -466 -292 54
Purchase of Property, Plant & Equipment		 -324 -410 -202 -218 90 -475 -264 -252 186 -868 -93
Purchase of Investments		 -2,113 -2,380 -1,769 -2,092 -2,056 -2,310 -1,734 -1,967 -1,904 -1,949 -1,511
Sale and/or Maturity of Investments		 1,313 1,516 1,476 1,811 1,553 1,619 1,735 2,075 1,765 1,933 1,823
Other Investing Activities, net		 329 -398 76 -12 -434 171 -17 -198 -513 592 -165
Net Cash From Financing Activities		 370 1,391 319 -1,139 -176 929 -1,422 161 -373 -386 -990
Net Cash From Continuing Financing Activities		 370 1,391 319 -1,139 -176 929 -1,422 161 -373 -386 -990
Repayment of Debt		 -2,730 -1,033 -4,264 -4,716 -4,510 -1,081 -4,050 -3,158 -4,196 -3,268 -4,079
Payment of Dividends		 -2.00 -7.00 -1.00 -593 -6.00 -7.00 -1.00 -320 -1.00 -11 -1.00
Issuance of Debt		 3,102 2,431 4,584 4,170 4,340 2,017 2,629 3,639 3,824 2,893 3,090
Effect of Exchange Rate Changes		 -47 111 -92 -42 36 -210 72 158 -11 6.00 11

Annual Balance Sheets for CNH Industrial

This table presents CNH Industrial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 46,677 45,547 48,298 46,100 47,352 50,556 49,416 39,381 46,267 42,933 42,747
Total Current Assets		 12,792 12,181 12,378 12,156 11,957 35,170 9,260 9,485 10,247 8,135 7,424
Cash & Equivalents		 5,384 5,017 5,430 5,031 4,875 9,629 5,044 4,376 4,322 3,191 2,578
Accounts Receivable		 580 623 496 399 - 19,032 - 298 380 168 195
Inventories, net		 5,690 5,609 6,452 6,726 7,082 6,000 4,216 4,811 5,545 4,776 4,651
Plant, Property, & Equipment, net		 8,316 8,304 8,676 7,675 5,269 0.00 1,475 1,532 1,913 1,936 2,181
Total Noncurrent Assets		 25,569 25,062 27,244 26,269 30,126 6,953 38,681 28,364 34,107 32,862 33,142
Long-Term Investments		 527 487 561 526 631 1,021 333 385 479 490 437
Noncurrent Note & Lease Receivables		 19,001 18,662 19,795 19,167 21,701 - 15,568 20,934 25,799 24,676 24,922
Goodwill		 2,447 2,449 2,472 2,453 2,538 - 3,210 3,322 3,614 3,584 3,617
Intangible Assets		 810 787 792 788 806 4,832 1,207 1,129 1,292 1,221 1,086
Noncurrent Deferred & Refundable Income Taxes		 1,250 937 852 591 1,134 1,061 421 433 979 927 1,207
Other Noncurrent Operating Assets		 1,534 1,740 2,772 2,744 3,316 - 17,942 2,161 1,944 1,964 1,873
Total Liabilities & Shareholders' Equity		 46,677 45,547 48,298 46,100 47,352 50,556 49,416 39,381 46,267 42,933 42,747
Total Liabilities		 41,816 41,075 44,041 41,002 41,196 43,821 42,563 32,405 38,117 35,165 34,922
Total Current Liabilities		 5,411 5,434 6,060 5,889 5,632 11,575 15,422 3,702 3,611 2,292 2,247
Accounts Payable		 5,342 5,185 6,060 5,889 5,632 6,355 3,530 3,702 3,611 2,292 2,247
Total Noncurrent Liabilities		 36,405 35,641 37,981 35,113 35,564 33,924 27,141 28,703 34,506 32,873 32,675
Long-Term Debt		 26,301 25,276 25,895 24,445 24,854 26,618 20,897 22,962 27,326 26,882 26,762
Noncurrent Deferred & Payable Income Tax Liabilities		 334 84 94 114 172 203 125 85 35 28 17
Noncurrent Employee Benefit Liabilities		 2,282 2,276 2,300 1,488 1,578 1,864 673 449 476 392 366
Other Noncurrent Operating Liabilities		 7,488 8,005 9,692 9,066 8,960 5,239 5,446 5,207 6,669 5,571 5,530
Redeemable Noncontrolling Interest		 18 21 25 30 35 - 45 49 54 55 53
Total Equity & Noncontrolling Interests		 4,843 4,451 4,232 5,068 6,121 6,735 6,808 6,927 8,096 7,713 7,772
Total Preferred & Common Equity		 4,802 4,444 4,224 5,043 6,081 6,651 6,778 6,927 8,030 7,651 7,730
Total Common Equity		 4,802 4,444 4,224 5,043 6,081 0.00 6,778 6,927 8,030 7,651 7,730
Common Stock		 4,424 4,433 4,437 4,434 4,429 - 4,489 1,529 1,603 1,440 1,413
Retained Earnings		 2,241 1,787 1,763 2,596 3,808 - 4,818 7,906 9,654 10,309 10,506
Treasury Stock		 0.00 -9.00 -10 -128 -154 - -84 -230 -865 -1,386 -1,422
Accumulated Other Comprehensive Income / (Loss)		 -1,863 -1,767 -1,966 -1,859 -2,002 - -2,445 -2,278 -2,362 -2,712 -2,767
Noncontrolling Interest		 41 7.00 8.00 25 40 84 30 0.00 66 62 42

Quarterly Balance Sheets for CNH Industrial

This table presents CNH Industrial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 40,566 42,687 43,041 45,726 43,959 44,033 42,057 43,687 43,258 42,038
Total Current Assets		 9,196 9,865 9,655 9,655 8,183 8,005 7,007 7,991 7,918 7,030
Cash & Equivalents		 3,213 3,194 2,979 3,236 2,002 1,801 1,695 2,512 2,303 1,604
Accounts Receivable		 - 260 229 230 230 274 156 263 262 192
Inventories, net		 5,983 6,411 6,447 6,189 5,951 5,930 5,156 5,216 5,353 5,234
Plant, Property, & Equipment, net		 1,574 1,643 1,681 1,903 1,909 1,980 2,004 2,164 2,183 2,192
Total Noncurrent Assets		 29,796 31,179 31,705 34,168 33,867 34,048 33,046 33,532 33,157 32,816
Long-Term Investments		 357 405 477 559 615 532 471 505 508 427
Noncurrent Note & Lease Receivables		 21,603 23,190 23,893 25,649 25,468 25,680 24,766 25,128 24,746 24,431
Goodwill		 3,514 3,490 3,490 3,603 3,599 3,615 3,593 3,618 3,613 3,610
Intangible Assets		 1,199 1,229 1,237 1,265 1,247 1,251 1,226 1,243 1,187 1,068
Noncurrent Deferred & Refundable Income Taxes		 434 587 704 977 942 957 984 1,040 1,018 1,236
Other Noncurrent Operating Assets		 2,689 2,278 1,904 2,115 1,996 2,013 2,006 1,998 2,085 2,044
Total Liabilities & Shareholders' Equity		 40,566 42,687 43,041 45,726 43,959 44,033 42,057 43,687 43,258 42,038
Total Liabilities		 33,115 35,057 34,926 37,714 36,297 36,264 34,098 35,853 35,421 34,170
Total Current Liabilities		 3,897 3,937 3,574 3,225 2,911 2,409 2,216 2,417 2,277 2,439
Accounts Payable		 3,897 3,937 3,574 3,225 2,911 2,409 2,216 2,417 2,277 2,439
Total Noncurrent Liabilities		 29,218 31,120 31,352 34,489 33,386 33,855 31,882 33,436 33,144 31,731
Long-Term Debt		 23,552 24,870 24,958 27,780 26,808 27,300 26,010 27,408 27,128 25,904
Noncurrent Deferred & Payable Income Tax Liabilities		 44 37 26 39 44 36 34 36 33 15
Noncurrent Employee Benefit Liabilities		 449 442 421 458 443 450 393 407 412 346
Other Noncurrent Operating Liabilities		 5,173 5,771 5,947 6,212 6,091 6,069 5,445 5,585 5,571 5,466
Redeemable Noncontrolling Interest		 52 55 58 57 60 57 57 55 60 56
Total Equity & Noncontrolling Interests		 7,399 7,575 8,057 7,955 7,602 7,712 7,902 7,779 7,777 7,812
Total Preferred & Common Equity		 7,324 7,500 7,985 7,892 7,538 7,643 7,839 7,713 7,732 7,772
Total Common Equity		 7,324 7,500 7,985 7,892 7,538 7,643 7,839 7,713 7,732 7,772
Common Stock		 1,553 1,561 1,588 1,440 1,426 1,440 1,419 1,403 1,413 1,404
Retained Earnings		 8,388 8,567 9,134 10,151 9,993 10,136 10,440 10,340 10,420 10,513
Treasury Stock		 -301 -382 -437 -1,276 -1,317 -1,376 -1,365 -1,343 -1,392 -1,443
Accumulated Other Comprehensive Income / (Loss)		 -2,316 -2,246 -2,300 -2,423 -2,564 -2,557 -2,655 -2,687 -2,709 -2,702
Noncontrolling Interest		 75 75 72 63 64 69 63 66 45 40

Annual Metrics And Ratios for CNH Industrial

This table displays calculated financial ratios and metrics derived from CNH Industrial's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 1,246,404,668.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 1,246,404,668.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.41
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -20.41% -3.15% 10.38% 7.24% -5.48% -47.37% 31.92% 20.80% 1.30% -16.85% -8.78%
EBITDA Growth		 -23.15% -27.67% 62.15% 39.52% -14.91% -84.95% 589.69% 59.57% 16.73% -20.36% -25.65%
EBIT Growth		 -47.93% -103.88% 3,095.45% 122.46% -20.19% -115.30% 1,183.24% 76.17% 18.50% -24.21% -31.49%
NOPAT Growth		 -66.72% -107.44% 1,411.69% 419.31% 37.37% -108.70% 1,464.72% 44.13% 28.15% -25.26% -37.38%
Net Income Growth		 -64.97% -205.24% 211.11% 278.97% 32.30% -130.12% 501.83% 15.85% 12.16% -44.95% -59.89%
EPS Growth		 -63.46% -200.00% 205.26% 290.00% 34.62% -134.29% 452.78% 17.32% 13.42% -41.42% -58.59%
Operating Cash Flow Growth		 297.36% 2.29% 3.50% -10.86% -28.50% 202.79% -26.17% -86.35% 62.84% 116.98% 28.96%
Free Cash Flow Firm Growth		 647.58% -75.69% -161.22% 321.74% -106.29% 16,751.56% -255.97% 157.77% -120.25% 188.33% -57.65%
Invested Capital Growth		 -12.58% -3.77% 3.22% -0.72% 6.33% -50.76% 172.88% -26.52% 21.84% 0.96% 1.95%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -3.95% -5.19% 1.58%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15.56% -1.79% -4.71%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17.44% -2.23% -6.58%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21.67% -9.36% -7.18%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -1.76% -25.98% -14.70%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -1.17% -24.43% -12.77%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -57.29% 8.62% 9.88% -22.74%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 501.42% -59.75%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.57% -5.40% -1.81%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 21.44% 22.61% 22.13% 22.72% 22.25% 24.54% 27.63% 25.75% 29.42% 29.35% 31.53%
EBITDA Margin		 6.61% 4.94% 7.25% 9.44% 8.49% 2.43% 12.70% 16.78% 19.33% 18.52% 15.09%
Operating Margin		 2.19% -0.09% 2.38% 4.94% 4.17% -1.21% 9.95% 14.50% 16.97% 15.47% 11.62%
EBIT Margin		 2.19% -0.09% 2.38% 4.94% 4.17% -1.21% 9.95% 14.50% 16.97% 15.47% 11.62%
Profit (Net Income) Margin		 0.96% -1.04% 1.05% 3.70% 5.18% -2.96% 9.03% 8.66% 9.59% 6.35% 2.79%
Tax Burden Percent		 43.74% 1,186.36% 44.01% 74.97% 124.27% 244.69% 90.77% 76.03% 84.61% 86.41% 81.45%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 78.51% 66.77% 47.49% 29.50%
Effective Tax Rate		 63.49% 0.00% 69.35% 28.44% -23.16% 0.00% 11.81% 27.85% 21.98% 23.06% 29.68%
Return on Invested Capital (ROIC)		 0.79% -0.06% 0.85% 4.36% 5.82% -0.66% 7.30% 8.29% 11.31% 7.66% 4.73%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.99% -1.34% 1.30% 4.62% 5.89% -3.14% 7.61% 6.43% 7.03% 2.84% 0.58%
Return on Net Nonoperating Assets (RNNOA)		 4.25% -5.53% 5.80% 19.14% 20.02% -6.14% 18.60% 21.20% 18.93% 8.16% 1.75%
Return on Equity (ROE)		 5.04% -5.59% 6.64% 23.50% 25.84% -6.80% 25.91% 29.49% 30.24% 15.82% 6.48%
Cash Return on Invested Capital (CROIC)		 14.22% 3.78% -2.32% 5.08% -0.31% 67.37% -85.42% 38.87% -8.38% 6.70% 2.80%
Operating Return on Assets (OROA)		 1.15% -0.05% 1.40% 3.11% 2.50% -0.37% 3.88% 7.69% 9.45% 6.88% 4.91%
Return on Assets (ROA)		 0.50% -0.57% 0.62% 2.33% 3.11% -0.89% 3.52% 4.59% 5.34% 2.82% 1.18%
Return on Common Equity (ROCE)		 4.98% -5.54% 6.60% 23.27% 25.54% -3.21% 12.92% 29.22% 29.90% 15.58% 6.39%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16.46% 0.00%
Net Operating Profit after Tax (NOPAT)		 207 -15 202 1,049 1,441 -125 1,710 2,465 3,158 2,360 1,478
NOPAT Margin		 0.80% -0.06% 0.73% 3.53% 5.13% -0.85% 8.77% 10.46% 13.24% 11.90% 8.17%
Net Nonoperating Expense Percent (NNEP)		 -0.19% 1.28% -0.45% -0.26% -0.07% 2.48% -0.30% 1.87% 4.28% 4.82% 4.15%
Return On Investment Capital (ROIC_SIMPLE)		 0.66% -0.05% 0.67% 3.55% 4.65% -0.38% 6.17% 8.25% 8.92% 6.82% 4.28%
Cost of Revenue to Revenue		 78.56% 77.39% 77.87% 77.28% 77.75% 75.46% 72.37% 74.25% 70.58% 70.65% 68.47%
SG&A Expenses to Revenue		 8.94% 8.95% 8.36% 7.91% 7.89% 8.77% 7.46% 7.44% 7.81% 8.63% 10.37%
R&D to Revenue		 3.30% 3.43% 3.45% 3.57% 3.67% 3.34% 3.29% 3.68% 4.36% 4.66% 5.66%
Operating Expenses to Revenue		 19.25% 22.70% 19.75% 17.78% 18.08% 25.75% 17.69% 11.25% 12.45% 13.88% 19.92%
Earnings before Interest and Taxes (EBIT)		 567 -22 659 1,466 1,170 -179 1,939 3,416 4,048 3,068 2,102
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,713 1,239 2,009 2,803 2,385 359 2,476 3,951 4,612 3,673 2,731
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.47 2.05 3.38 1.96 1.97 0.00 3.26 2.88 1.94 2.00 1.61
Price to Tangible Book Value (P/TBV)		 4.56 7.55 14.85 5.47 4.37 0.00 9.35 8.05 4.98 5.39 4.12
Price to Revenue (P/Rev)		 0.27 0.36 0.51 0.33 0.43 0.98 1.13 0.85 0.65 0.77 0.69
Price to Earnings (P/E)		 27.83 0.00 52.42 9.24 8.41 0.00 12.81 9.82 6.83 12.31 24.48
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.71%
Earnings Yield		 3.59% 0.00% 1.91% 10.83% 11.89% 0.00% 7.81% 10.18% 14.64% 8.12% 4.09%
Enterprise Value to Invested Capital (EV/IC)		 1.09 1.20 1.42 1.20 1.23 2.42 1.10 1.52 1.24 1.25 1.15
Enterprise Value to Revenue (EV/Rev)		 1.03 1.12 1.23 0.97 1.12 2.05 1.93 1.62 1.60 1.95 2.01
Enterprise Value to EBITDA (EV/EBITDA)		 15.51 22.67 17.02 10.28 13.16 84.56 15.21 9.66 8.28 10.52 13.30
Enterprise Value to EBIT (EV/EBIT)		 46.85 0.00 51.89 19.65 26.83 0.00 19.43 11.18 9.43 12.60 17.28
Enterprise Value to NOPAT (EV/NOPAT)		 128.32 0.00 169.28 27.46 21.78 0.00 22.03 15.49 12.09 16.38 24.57
Enterprise Value to Operating Cash Flow (EV/OCF)		 9.82 10.15 11.94 11.28 17.19 5.49 9.23 68.54 42.10 19.64 14.31
Enterprise Value to Free Cash Flow (EV/FCFF)		 7.16 31.15 0.00 23.53 0.00 2.37 0.00 3.30 0.00 18.71 41.51
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 5.41 5.65 6.08 4.80 4.04 3.95 3.05 3.29 3.35 3.46 3.42
Long-Term Debt to Equity		 5.41 5.65 6.08 4.80 4.04 3.95 3.05 3.29 3.35 3.46 3.42
Financial Leverage		 4.30 4.11 4.45 4.15 3.40 1.95 2.45 3.30 2.69 2.87 3.01
Leverage Ratio		 10.02 9.88 10.75 10.09 8.30 7.60 7.36 6.42 5.66 5.60 5.49
Compound Leverage Factor		 10.02 9.88 10.75 10.09 8.30 7.60 7.36 5.04 3.78 2.66 1.62
Debt to Total Capital		 84.40% 84.97% 85.88% 82.74% 80.15% 79.81% 75.30% 76.70% 77.03% 77.58% 77.38%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 84.40% 84.97% 85.88% 82.74% 80.15% 79.81% 75.30% 76.70% 77.03% 77.58% 77.38%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.19% 0.09% 0.11% 0.19% 0.24% 0.25% 0.27% 0.16% 0.34% 0.34% 0.27%
Common Equity to Total Capital		 15.41% 14.94% 14.01% 17.07% 19.61% 0.00% 24.43% 23.14% 22.64% 22.08% 22.35%
Debt to EBITDA		 15.35 20.40 12.89 8.72 10.42 74.14 8.44 5.81 5.93 7.32 9.80
Net Debt to EBITDA		 11.36 15.28 9.91 6.74 8.11 44.03 6.27 4.61 4.88 6.32 8.70
Long-Term Debt to EBITDA		 15.35 20.40 12.89 8.72 10.42 74.14 8.44 5.81 5.93 7.32 9.80
Debt to NOPAT		 127.06 -1,641.30 128.19 23.30 17.25 -212.43 12.22 9.32 8.65 11.39 18.10
Net Debt to NOPAT		 94.02 -1,229.55 98.53 18.01 13.43 -126.16 9.08 7.39 7.13 9.83 16.07
Long-Term Debt to NOPAT		 127.06 -1,641.30 128.19 23.30 17.25 -212.43 12.22 9.32 8.65 11.39 18.10
Altman Z-Score		 0.95 0.92 1.02 1.14 1.12 1.04 0.82 1.71 1.51 1.46 1.29
Noncontrolling Interest Sharing Ratio		 1.16% 0.93% 0.70% 0.94% 1.16% 52.83% 50.12% 0.90% 1.12% 1.49% 1.36%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.36 2.24 2.04 2.06 2.12 3.04 0.60 2.56 2.84 3.55 3.30
Quick Ratio		 1.10 1.04 0.98 0.92 0.87 2.49 0.33 1.26 1.30 1.47 1.23
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 3,708 902 -552 1,224 -77 12,822 -19,998 11,553 -2,340 2,066 875
Operating Cash Flow to CapEx		 152.88% 130.44% 129.17% 463.52% 96.05% 653.55% 1,118.36% 61.75% 76.93% 166.08% 211.85%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15.74 -1.74 1.28 0.59
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.76 0.67 1.22 1.71
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.47 -0.20 0.49 0.90
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.53 0.54 0.59 0.63 0.60 0.30 0.39 0.53 0.56 0.44 0.42
Accounts Receivable Turnover		 31.72 41.72 49.51 66.38 0.00 0.00 0.00 0.00 70.37 72.39 99.70
Inventory Turnover		 3.21 3.44 3.58 3.48 3.16 1.70 2.76 3.87 3.25 2.72 2.63
Fixed Asset Turnover		 3.10 3.02 3.26 3.63 4.34 0.00 0.00 15.66 13.85 10.31 8.79
Accounts Payable Turnover		 3.60 3.69 3.84 3.84 3.79 1.86 2.85 4.84 4.61 4.75 5.46
Days Sales Outstanding (DSO)		 11.51 8.75 7.37 5.50 0.00 0.00 0.00 0.00 5.19 5.04 3.66
Days Inventory Outstanding (DIO)		 113.84 106.18 102.04 104.76 115.43 214.08 132.14 94.21 112.24 134.41 138.87
Days Payable Outstanding (DPO)		 101.52 98.93 95.13 94.99 96.31 196.16 127.86 75.48 79.26 76.87 66.86
Cash Conversion Cycle (CCC)		 23.83 16.00 14.28 15.27 19.12 17.92 4.28 18.73 38.17 62.58 75.67
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 24,324 23,407 24,161 23,986 25,504 12,557 34,265 25,177 30,675 30,969 31,572
Invested Capital Turnover		 0.99 1.05 1.16 1.23 1.13 0.78 0.83 0.79 0.85 0.64 0.58
Increase / (Decrease) in Invested Capital		 -3,501 -917 754 -175 1,518 -12,947 21,708 -9,088 5,498 294 603
Enterprise Value (EV)		 26,562 28,085 34,194 28,806 31,387 30,358 37,667 38,179 38,188 38,658 36,325
Market Capitalization		 7,040 9,122 14,257 9,863 11,964 14,466 22,072 19,929 15,543 15,340 12,483
Book Value per Share		 $3.54 $3.26 $3.10 $3.70 $4.49 $0.00 $5.01 $4.04 $5.97 $6.13 $6.20
Tangible Book Value per Share		 $1.14 $0.89 $0.71 $1.32 $2.02 ($3.58) $1.74 $1.44 $2.32 $2.28 $2.43
Total Capital		 31,162 29,748 30,152 29,543 31,010 33,353 27,750 29,938 35,476 34,650 34,587
Total Debt		 26,301 25,276 25,895 24,445 24,854 26,618 20,897 22,962 27,326 26,882 26,762
Total Long-Term Debt		 26,301 25,276 25,895 24,445 24,854 26,618 20,897 22,962 27,326 26,882 26,762
Net Debt		 19,463 18,935 19,904 18,888 19,348 15,808 15,520 18,201 22,525 23,201 23,747
Capital Expenditures (CapEx)		 1,770 2,122 2,218 551 1,901 846 365 902 1,179 1,185 1,198
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,070 893 888 1,236 1,450 13,806 -11,206 1,407 2,314 2,652 2,599
Debt-free Net Working Capital (DFNWC)		 7,381 6,747 6,318 6,267 6,325 23,595 -6,162 5,783 6,636 5,843 5,177
Net Working Capital (NWC)		 7,381 6,747 6,318 6,267 6,325 23,595 -6,162 5,783 6,636 5,843 5,177
Net Nonoperating Expense (NNE)		 -41 246 -88 -50 -13 313 -50 426 871 1,101 973
Net Nonoperating Obligations (NNO)		 19,463 18,935 19,904 18,888 19,348 5,822 27,412 18,201 22,525 23,201 23,747
Total Depreciation and Amortization (D&A)		 1,146 1,261 1,350 1,337 1,215 538 537 535 564 605 629
Debt-free, Cash-free Net Working Capital to Revenue		 4.13% 3.56% 3.21% 4.16% 5.16% 93.42% -57.48% 5.97% 9.70% 13.37% 14.36%
Debt-free Net Working Capital to Revenue		 28.48% 26.89% 22.81% 21.10% 22.53% 159.65% -31.61% 24.56% 27.82% 29.46% 28.61%
Net Working Capital to Revenue		 28.48% 26.89% 22.81% 21.10% 22.53% 159.65% -31.61% 24.56% 27.82% 29.46% 28.61%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.19 ($0.18) $0.22 $0.79 $1.05 ($0.36) $0.00 $0.00 $1.78 $0.99 $0.41
Adjusted Weighted Average Basic Shares Outstanding		 1.36B 1.36B 1.36B 1.35B 1.35B 1.35B 0.00 0.00 1.33B 1.25B 1.25B
Adjusted Diluted Earnings per Share		 $0.19 ($0.18) $0.22 $0.78 $1.05 ($0.36) $0.00 $0.00 $1.76 $0.99 $0.41
Adjusted Weighted Average Diluted Shares Outstanding		 1.36B 1.36B 1.36B 1.35B 1.35B 1.35B 0.00 0.00 1.35B 1.26B 1.25B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.36B 1.36B 1.36B 1.35B 1.35B 1.35B 0.00 0.00 1.26B 1.25B 1.24B
Normalized Net Operating Profit after Tax (NOPAT)		 456 15 526 1,093 895 300 1,741 2,487 3,211 2,451 1,494
Normalized NOPAT Margin		 1.76% 0.06% 1.90% 3.68% 3.19% 2.03% 8.93% 10.56% 13.46% 12.36% 8.25%
Pre Tax Income Margin		 2.19% -0.09% 2.38% 4.94% 4.17% -1.21% 9.95% 11.39% 11.33% 7.35% 3.43%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.65 3.01 1.90 1.42
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.36 2.35 1.47 1.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.43 2.13 1.17 0.61
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.13 1.47 0.73 0.19
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 119.76% -79.31% 57.93% 22.11% 19.46% -1.83% 10.68% 20.75% 23.52% 48.21% 65.94%
Augmented Payout Ratio		 119.76% -79.31% 57.93% 22.11% 19.46% -1.83% 10.68% 20.75% 23.52% 48.21% 65.94%

Quarterly Metrics And Ratios for CNH Industrial

This table displays calculated financial ratios and metrics derived from CNH Industrial's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - 1,246,404,668.00 1,239,950,537.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 1,246,404,668.00 1,239,950,537.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.07 0.01
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 1.79% -14.13% -9.81% -16.43% -22.25% -18.22% -20.55% -14.16% -5.48% 5.76% -0.05%
EBITDA Growth		 -6.59% 42.86% 24.54% 4.82% 10.52% -3.24% -28.60% -22.68% -34.15% -16.61% -19.29%
EBIT Growth		 -9.32% 45.50% 27.16% 4.06% 11.48% -3.64% -34.17% -27.18% -41.87% -22.36% -27.86%
NOPAT Growth		 -8.74% 70.34% 42.06% 6.74% 18.99% -32.43% -42.20% -33.36% -28.01% -32.85% -29.65%
Net Income Growth		 -3.40% -6.93% -24.07% -43.10% -42.59% -80.22% -64.23% -46.29% -78.39% -49.43% -92.42%
EPS Growth		 -2.44% -4.55% -17.14% -38.46% -40.00% -76.19% -65.52% -46.88% -75.00% -42.86% -90.00%
Operating Cash Flow Growth		 -14.71% 4.99% -27.53% 372.66% 240.95% 11.68% 118.12% 103.69% -16.69% -44.15% -78.40%
Free Cash Flow Firm Growth		 77.37% 0.00% 85.47% 91.99% 51.96% 123.19% 114.44% 103.87% 139.55% -361.19% -42.81%
Invested Capital Growth		 24.18% 21.84% 16.64% 10.21% 10.53% 0.96% -0.61% 1.17% -1.78% 1.95% -0.20%
Revenue Q/Q Growth		 -8.85% -0.40% -19.19% 13.91% -15.20% 4.77% -21.49% 23.07% -6.62% 17.23% -25.81%
EBITDA Q/Q Growth		 -17.21% 156.19% -54.40% 8.37% -12.71% 288.93% -17.10% 17.36% -25.66% 15.31% -19.76%
EBIT Q/Q Growth		 -21.00% 190.33% -58.58% 9.55% -15.37% 414.44% -20.85% 21.18% -32.44% 19.81% -26.46%
NOPAT Q/Q Growth		 -23.99% 252.10% -62.78% 7.15% -15.27% 309.85% -10.91% 23.53% -8.47% -33.34% -6.66%
Net Income Q/Q Growth		 -23.94% 2.04% -33.03% 9.49% -23.27% -64.84% -25.00% 64.39% -69.12% 32.84% -88.76%
EPS Q/Q Growth		 -23.08% 5.00% -30.95% 10.34% -25.00% -58.33% -28.57% 70.00% -64.71% 33.33% -87.50%
Operating Cash Flow Q/Q Growth		 266.91% 553.02% -159.01% 142.39% 108.71% 113.91% -90.43% 376.54% -14.64% 43.40% -96.30%
Free Cash Flow Firm Q/Q Growth		 81.33% 28.56% -4.01% 42.29% -12.03% 130.84% 358.18% -84.54% 1,045.70% -132.18% 200.33%
Invested Capital Q/Q Growth		 2.48% 3.57% 4.31% -0.45% 2.77% -5.40% 2.69% 1.33% -0.22% -1.81% 0.54%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 32.19% 21.08% 33.69% 32.54% 32.75% 18.23% 32.89% 32.24% 31.92% 29.55% 31.91%
EBITDA Margin		 13.50% 34.72% 19.59% 18.64% 19.19% 41.08% 17.61% 16.79% 13.37% 13.15% 14.22%
Operating Margin		 11.06% 32.24% 16.52% 15.89% 15.86% 37.98% 13.69% 13.48% 9.75% 9.97% 9.88%
EBIT Margin		 11.06% 32.24% 16.52% 15.89% 15.86% 37.98% 13.69% 13.48% 9.75% 9.97% 9.88%
Profit (Net Income) Margin		 9.02% 9.24% 7.66% 7.36% 6.66% 2.24% 3.45% 4.61% 1.52% 1.73% 0.26%
Tax Burden Percent		 81.57% 95.49% 91.79% 88.99% 86.11% 45.23% 81.48% 78.91% 131.37% 67.42% 76.92%
Interest Burden Percent		 100.00% 30.02% 50.50% 52.06% 48.78% 13.01% 30.92% 43.31% 11.89% 25.68% 3.44%
Effective Tax Rate		 25.83% 10.05% 19.15% 20.93% 20.83% 36.93% 29.01% 27.64% 1.96% 45.45% 30.77%
Return on Invested Capital (ROIC)		 7.62% 24.77% 10.49% 9.20% 8.42% 15.42% 5.74% 5.50% 5.25% 3.15% 3.90%
ROIC Less NNEP Spread (ROIC-NNEP)		 7.87% 18.99% 9.24% 7.95% 7.24% 10.78% 4.74% 4.50% 3.81% 2.33% 2.84%
Return on Net Nonoperating Assets (RNNOA)		 21.11% 51.12% 26.27% 23.63% 21.19% 30.98% 14.19% 14.12% 12.05% 7.02% 8.56%
Return on Equity (ROE)		 28.73% 75.90% 36.76% 32.83% 29.62% 46.40% 19.93% 19.62% 17.30% 10.16% 12.46%
Cash Return on Invested Capital (CROIC)		 0.00% -8.38% -4.02% 1.60% 1.52% 6.70% 7.17% 4.62% 6.70% 2.80% 4.51%
Operating Return on Assets (OROA)		 6.96% 17.96% 8.93% 8.16% 7.62% 16.89% 5.88% 5.56% 3.98% 4.21% 4.25%
Return on Assets (ROA)		 5.68% 5.15% 4.14% 3.78% 3.20% 0.99% 1.48% 1.90% 0.62% 0.73% 0.11%
Return on Common Equity (ROCE)		 28.36% 75.05% 36.17% 32.29% 29.14% 45.71% 19.63% 19.31% 17.04% 10.03% 12.29%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 491 1,729 644 690 584 1,168 372 460 421 280 262
NOPAT Margin		 8.20% 29.00% 13.36% 12.56% 12.55% 23.96% 9.72% 9.75% 9.56% 5.44% 6.84%
Net Nonoperating Expense Percent (NNEP)		 -0.25% 5.78% 1.25% 1.26% 1.18% 4.63% 1.00% 1.00% 1.43% 0.82% 1.05%
Return On Investment Capital (ROIC_SIMPLE)		 1.49% 4.88% 1.80% 2.00% 1.67% 3.38% 1.10% 1.31% 1.21% 0.81% 0.78%
Cost of Revenue to Revenue		 67.81% 78.92% 66.31% 67.46% 67.25% 81.77% 67.11% 67.76% 68.08% 70.45% 68.09%
SG&A Expenses to Revenue		 7.72% 8.02% 8.53% 8.40% 9.15% 8.49% 10.08% 10.15% 12.48% 8.98% 12.15%
R&D to Revenue		 4.44% 4.61% 4.73% 4.32% 4.75% 4.88% 4.81% 4.63% 6.39% 6.63% 6.06%
Operating Expenses to Revenue		 21.13% -11.15% 17.16% 16.65% 16.89% -19.75% 19.20% 18.76% 22.16% 19.59% 22.03%
Earnings before Interest and Taxes (EBIT)		 662 1,922 796 872 738 1,852 524 635 429 514 378
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 808 2,070 944 1,023 893 2,003 674 791 588 678 544
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.93 1.94 2.10 1.79 1.93 2.00 2.08 2.27 1.90 1.61 1.92
Price to Tangible Book Value (P/TBV)		 4.74 4.98 5.47 5.00 5.31 5.39 5.40 6.15 5.01 4.12 4.81
Price to Revenue (P/Rev)		 0.62 0.65 0.71 0.61 0.71 0.77 0.87 0.97 0.82 0.69 0.82
Price to Earnings (P/E)		 6.66 6.83 7.65 7.26 9.09 12.31 16.18 21.32 24.61 24.48 38.58
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.93% 2.30% 2.71% 2.27%
Earnings Yield		 15.01% 14.64% 13.07% 13.77% 11.00% 8.12% 6.18% 4.69% 4.06% 4.09% 2.59%
Enterprise Value to Invested Capital (EV/IC)		 1.25 1.24 1.27 1.19 1.22 1.25 1.27 1.31 1.22 1.15 1.22
Enterprise Value to Revenue (EV/Rev)		 1.49 1.60 1.74 1.70 1.90 1.95 2.14 2.33 2.20 2.01 2.15
Enterprise Value to EBITDA (EV/EBITDA)		 9.29 8.28 8.47 7.80 8.08 10.52 11.84 13.26 13.65 13.30 14.94
Enterprise Value to EBIT (EV/EBIT)		 10.76 9.43 9.64 8.88 9.21 12.60 14.41 16.44 17.38 17.28 19.87
Enterprise Value to NOPAT (EV/NOPAT)		 14.28 12.09 12.06 10.99 11.09 16.38 19.25 22.72 24.56 24.57 28.36
Enterprise Value to Operating Cash Flow (EV/OCF)		 44.40 42.10 56.92 30.66 22.25 19.64 13.32 12.31 11.91 14.31 16.12
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 77.71 84.28 18.71 17.61 28.43 17.99 41.51 27.13
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 3.08 3.35 3.47 3.50 3.51 3.46 3.27 3.50 3.46 3.42 3.29
Long-Term Debt to Equity		 3.08 3.35 3.47 3.50 3.51 3.46 3.27 3.50 3.46 3.42 3.29
Financial Leverage		 2.68 2.69 2.84 2.97 2.93 2.87 2.99 3.14 3.16 3.01 3.01
Leverage Ratio		 5.43 5.66 5.58 5.67 5.48 5.60 5.50 5.66 5.59 5.49 5.31
Compound Leverage Factor		 5.43 1.70 2.82 2.95 2.67 0.73 1.70 2.45 0.67 1.41 0.18
Debt to Total Capital		 75.46% 77.03% 77.62% 77.77% 77.85% 77.58% 76.57% 77.77% 77.59% 77.38% 76.70%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 75.46% 77.03% 77.62% 77.77% 77.85% 77.58% 76.57% 77.77% 77.59% 77.38% 76.70%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.39% 0.34% 0.34% 0.36% 0.36% 0.34% 0.35% 0.34% 0.30% 0.27% 0.28%
Common Equity to Total Capital		 24.14% 22.64% 22.05% 21.87% 21.79% 22.08% 23.08% 21.89% 22.11% 22.35% 23.01%
Debt to EBITDA		 6.25 5.93 5.79 5.53 5.54 7.32 7.64 8.64 9.47 9.80 9.96
Net Debt to EBITDA		 5.39 4.88 5.00 4.99 5.06 6.32 7.01 7.69 8.48 8.70 9.18
Long-Term Debt to EBITDA		 6.25 5.93 5.79 5.53 5.54 7.32 7.64 8.64 9.47 9.80 9.96
Debt to NOPAT		 9.61 8.65 8.24 7.80 7.60 11.39 12.43 14.80 17.03 18.10 18.90
Net Debt to NOPAT		 8.28 7.13 7.12 7.04 6.95 9.83 11.39 13.17 15.27 16.07 17.42
Long-Term Debt to NOPAT		 9.61 8.65 8.24 7.80 7.60 11.39 12.43 14.80 17.03 18.10 18.90
Altman Z-Score		 1.36 1.36 1.31 1.26 1.25 1.37 1.26 1.24 1.19 1.17 1.20
Noncontrolling Interest Sharing Ratio		 1.27% 1.12% 1.60% 1.66% 1.61% 1.49% 1.50% 1.58% 1.48% 1.36% 1.36%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.70 2.84 2.99 2.81 3.32 3.55 3.16 3.31 3.48 3.30 2.88
Quick Ratio		 0.90 1.30 1.07 0.77 0.86 1.47 0.84 1.15 1.13 1.23 0.74
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -5,276 -3,769 -3,920 -2,262 -2,535 874 566 88 1,003 -323 324
Operating Cash Flow to CapEx		 71.60% 369.51% -442.57% 173.85% 0.00% 356.21% 61.36% 306.35% 0.00% 108.87% 37.63%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -9.95 -5.41 -6.71 0.00 1.56 0.24 2.65 -0.84 0.89
Operating Cash Flow to Interest Expense		 0.00 0.00 -2.27 0.91 2.09 0.00 0.45 2.14 1.74 2.47 0.10
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 -2.78 0.39 2.33 0.00 -0.28 1.44 2.24 0.20 -0.16
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.63 0.56 0.54 0.51 0.48 0.44 0.43 0.41 0.41 0.42 0.43
Accounts Receivable Turnover		 0.00 70.37 0.00 90.83 83.19 72.39 97.65 73.30 66.47 99.70 103.98
Inventory Turnover		 2.98 3.25 2.70 2.53 2.38 2.72 2.36 2.31 2.26 2.63 2.39
Fixed Asset Turnover		 16.10 13.85 13.42 12.53 11.43 10.31 9.65 8.87 8.56 8.79 8.62
Accounts Payable Turnover		 5.12 4.61 4.61 4.57 4.92 4.75 4.92 4.83 5.44 5.46 5.34
Days Sales Outstanding (DSO)		 0.00 5.19 0.00 4.02 4.39 5.04 3.74 4.98 5.49 3.66 3.51
Days Inventory Outstanding (DIO)		 122.33 112.24 135.27 144.06 153.33 134.41 154.65 158.25 161.59 138.87 152.61
Days Payable Outstanding (DPO)		 71.33 79.26 79.15 79.80 74.12 76.87 74.17 75.51 67.11 66.86 68.37
Cash Conversion Cycle (CCC)		 51.00 38.17 56.12 68.27 83.60 62.58 84.22 87.73 99.97 75.67 87.75
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 29,617 30,675 31,997 31,853 32,736 30,969 31,803 32,225 32,154 31,572 31,741
Invested Capital Turnover		 0.93 0.85 0.79 0.73 0.67 0.64 0.59 0.56 0.55 0.58 0.57
Increase / (Decrease) in Invested Capital		 5,767 5,498 4,564 2,952 3,119 294 -194 372 -582 603 -62
Enterprise Value (EV)		 37,073 38,188 40,644 37,778 39,845 38,658 40,285 42,059 39,112 36,325 38,862
Market Capitalization		 15,441 15,543 16,539 13,463 14,752 15,340 16,321 17,547 14,690 12,483 14,893
Book Value per Share		 $5.98 $5.97 $6.26 $5.99 $6.10 $6.13 $6.28 $6.17 $6.18 $6.20 $6.26
Tangible Book Value per Share		 $2.44 $2.32 $2.40 $2.14 $2.21 $2.28 $2.42 $2.28 $2.34 $2.43 $2.49
Total Capital		 33,073 35,476 35,792 34,470 35,069 34,650 33,969 35,242 34,965 34,587 33,772
Total Debt		 24,958 27,326 27,780 26,808 27,300 26,882 26,010 27,408 27,128 26,762 25,904
Total Long-Term Debt		 24,958 27,326 27,780 26,808 27,300 26,882 26,010 27,408 27,128 26,762 25,904
Net Debt		 21,502 22,525 23,985 24,191 24,967 23,201 23,844 24,391 24,317 23,747 23,873
Capital Expenditures (CapEx)		 324 410 202 218 -90 475 264 252 -186 868 93
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 3,102 2,314 3,194 3,270 3,795 2,652 3,096 3,062 3,338 2,599 2,987
Debt-free Net Working Capital (DFNWC)		 6,081 6,636 6,430 5,272 5,596 5,843 4,791 5,574 5,641 5,177 4,591
Net Working Capital (NWC)		 6,081 6,636 6,430 5,272 5,596 5,843 4,791 5,574 5,641 5,177 4,591
Net Nonoperating Expense (NNE)		 -49 1,178 275 286 274 1,059 240 243 354 191 252
Net Nonoperating Obligations (NNO)		 21,502 22,525 23,985 24,191 24,967 23,201 23,844 24,391 24,317 23,747 23,873
Total Depreciation and Amortization (D&A)		 146 148 148 151 155 151 150 156 159 164 166
Debt-free, Cash-free Net Working Capital to Revenue		 12.49% 9.70% 13.69% 14.69% 18.14% 13.37% 16.43% 16.95% 18.74% 14.36% 16.51%
Debt-free Net Working Capital to Revenue		 24.48% 27.82% 27.56% 23.69% 26.75% 29.46% 25.42% 30.85% 31.67% 28.61% 25.37%
Net Working Capital to Revenue		 24.48% 27.82% 27.56% 23.69% 26.75% 29.46% 25.42% 30.85% 31.67% 28.61% 25.37%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.43 $0.42 $0.32 $0.34 $0.24 $0.09 $0.10 $0.17 $0.06 $0.08 $0.01
Adjusted Weighted Average Basic Shares Outstanding		 1.33B 1.33B 1.26B 1.26B 1.25B 1.25B 1.25B 1.25B 1.25B 1.25B 1.24B
Adjusted Diluted Earnings per Share		 $0.42 $0.42 $0.31 $0.34 $0.24 $0.10 $0.10 $0.17 $0.06 $0.08 $0.01
Adjusted Weighted Average Diluted Shares Outstanding		 1.35B 1.35B 1.27B 1.26B 1.25B 1.26B 1.25B 1.25B 1.25B 1.25B 1.24B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.33B 1.26B 1.26B 1.25B 1.25B 1.25B 1.25B 1.25B 1.25B 1.24B 1.24B
Normalized Net Operating Profit after Tax (NOPAT)		 495 1,782 669 730 594 1,183 376 463 424 285 264
Normalized NOPAT Margin		 8.26% 29.89% 13.88% 13.30% 12.76% 24.27% 9.83% 9.83% 9.63% 5.52% 6.91%
Pre Tax Income Margin		 11.06% 9.68% 8.34% 8.27% 7.74% 4.94% 4.23% 5.84% 1.16% 2.56% 0.34%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 2.02 2.09 1.95 0.00 1.45 1.76 1.13 1.35 1.04
NOPAT to Interest Expense		 0.00 0.00 1.63 1.65 1.55 0.00 1.03 1.28 1.11 0.73 0.72
EBIT Less CapEx to Interest Expense		 0.00 0.00 1.51 1.56 2.19 0.00 0.72 1.06 1.63 -0.93 0.78
NOPAT Less CapEx to Interest Expense		 0.00 0.00 1.12 1.13 1.78 0.00 0.30 0.58 1.60 -1.54 0.46
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 23.11% 23.52% 24.79% 32.35% 37.15% 48.21% 59.39% 40.00% 55.57% 65.94% 86.95%
Augmented Payout Ratio		 23.11% 23.52% 24.79% 32.35% 37.15% 48.21% 59.39% 40.00% 55.57% 65.94% 86.95%

Financials Breakdown Chart

Key Financial Trends

CNH Industrial N.V. (NYSE: CNH) is a diversified machinery company with exposure to agriculture, construction, and commercial vehicles. Below is a concise, data-driven look at trends from CNH’s quarterly statements over the last four years (2022–2025), focusing on revenue, profitability, cash flow, and balance sheet strength. The analysis highlights notable momentum that may matter to retail investors evaluating the stock’s risk and upside potential.

  • Gross margin expanded notably in Q4 2025 to about 29.5% (gross profit of 1.524B on 5.157B revenue), up from about 18% in Q4 2024 (889M on 4.876B). This suggests improved pricing/mix or cost control in that quarter.
  • Q4 2025 Operating Income reached 514M, with an operating margin around 10% (514M on 5.157B revenue), up from the prior quarter’s level, signaling improving operating profitability into year-end.
  • Q4 2025 Net Cash From Continuing Operating Activities was 945M, the strongest quarterly cash generation in the recent sequence, indicating healthier core cash flow generation.
  • Q4 2025 Revenue rose to 5.16B from 4.88B in Q4 2024, suggesting a rebound in demand or pricing power in the latest quarter.
  • Estimated quarterly free cash flow in Q4 2025 is positive (roughly CFO 945M minus capex 868M ≈ 77M), showing cash generation after capital spending in that quarter.
  • Cash liquidity remained solid around 2.3B in the latest period, providing a liquidity cushion for debt service and flexibility in capital allocation.
  • Long-term debt has remained in the low-to-mid 20s of billions (roughly 24–28B range across quarters), with total liabilities around 34–35B and equity near 7–8B, indicating a relatively stable but high-leverage balance sheet.
  • Inventories remained elevated (e.g., around 5.3B in mid-2025), which may reflect working-capital needs or supply chain dynamics rather than an obvious acceleration or deceleration in demand yet.
  • Net income attributable to CNH common shareholders in Q4 2025 was 86M, down from 106M in Q4 2024, signaling year-over-year profitability softness despite higher revenue and margins in that quarter.
  • Net financing activity in Q4 2025 showed a cash outflow from financing (-386M), indicating ongoing leverage management that could constrain discretionary cash flow expansion.
05/22/26 10:37 PM ETAI Generated. May Contain Errors.

CNH Industrial Financials - Frequently Asked Questions

According to the most recent income statement we have on file, CNH Industrial's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

CNH Industrial's net income appears to be on an upward trend, with a most recent value of $505 million in 2025, rising from $248 million in 2015. The previous period was $1.26 billion in 2024. See CNH Industrial's forecast for analyst expectations on what's next for the company.

CNH Industrial's total operating income in 2025 was $2.10 billion, based on the following breakdown:
  • Total Gross Profit: $5.71 billion
  • Total Operating Expenses: $3.60 billion

Over the last 10 years, CNH Industrial's total revenue changed from $25.91 billion in 2015 to $18.10 billion in 2025, a change of -30.2%.

CNH Industrial's total liabilities were at $34.92 billion at the end of 2025, a 0.7% decrease from 2024, and a 16.5% decrease since 2015.

In the past 10 years, CNH Industrial's cash and equivalents has ranged from $2.58 billion in 2025 to $9.63 billion in 2020, and is currently $2.58 billion as of their latest financial filing in 2025.

Over the last 10 years, CNH Industrial's book value per share changed from 3.54 in 2015 to 6.20 in 2025, a change of 75.0%.


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Financial statements for NYSE:CNH last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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