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Titan International (TWI) Financials

Titan International logo
$7.82 +0.18 (+2.29%)
Closing price 03:59 PM Eastern
Extended Trading
$7.84 +0.02 (+0.26%)
As of 04:38 PM Eastern
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Annual Income Statements for Titan International

Annual Income Statements for Titan International

This table shows Titan International'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		 -75 -38 -60 16 -48 -60 50 176 79 -5.56 -63
Consolidated Net Income / (Loss)		 -90 -40 -64 13 -52 -65 50 179 84 -3.59 -61
Net Income / (Loss) Continuing Operations		 -90 -40 -64 13 -52 -65 50 179 84 -3.59 -61
Total Pre-Tax Income 		-55 -36 -53 20 -48 -58 51 202 110 8.27 -11
Total Operating Income		 -27 -22 -11 42 -28 -35 85 206 149 33 21
Total Gross Profit		 135 141 160 198 129 114 238 361 306 258 253
Total Revenue		 1,395 1,265 1,469 1,602 1,449 1,259 1,780 2,169 1,822 1,846 1,828
Operating Revenue		 1,395 1,265 1,469 1,602 1,449 1,259 1,780 2,169 1,822 1,846 1,828
Total Cost of Revenue		 1,260 1,124 1,309 1,404 1,320 1,145 1,543 1,809 1,516 1,588 1,575
Operating Cost of Revenue		 1,260 1,124 1,299 1,404 1,320 1,145 1,543 1,809 1,516 1,588 1,575
Total Operating Expenses		 162 164 171 156 157 150 152 155 157 225 233
Selling, General & Admin Expense		 140 145 151 135 138 131 132 133 135 192 203
Research & Development Expense		 11 9.97 10 11 9.86 9.01 10 10 13 17 18
Other Operating Expenses / (Income)		 11 8.86 10 10 9.88 9.72 10 12 9.65 10 11
Restructuring Charge		 - - - - - - - 0.00 0.00 6.20 0.00
Total Other Income / (Expense), net		 -28 -14 -42 -22 -20 -23 -34 -3.45 -39 -25 -32
Interest Expense		 34 33 49 28 32 31 48 32 29 36 39
Interest & Investment Income		 - - - - - - - 2.35 10 11 11
Other Income / (Expense), net		 6.31 18 7.15 5.91 12 7.77 14 26 -20 0.49 -4.06
Income Tax Expense		 35 3.28 11 6.76 3.48 6.95 1.15 23 26 12 50
Net Income / (Loss) Attributable to Noncontrolling Interest		 -15 -2.15 -4.04 -3.04 -3.09 -4.69 0.31 2.88 4.95 1.97 2.31
Basic Earnings per Share		 ($1.73) ($0.87) ($1.12) $0.06 ($0.84) ($0.99) $0.80 $2.80 $1.26 ($0.08) ($1.00)
Weighted Average Basic Shares Outstanding		 53.70M 53.92M 59.34M 59.82M 60.10M 60.82M 62.10M 63.04M 62.45M 68.66M 63.71M
Diluted Earnings per Share		 ($1.73) ($0.87) ($1.12) $0.06 ($0.84) ($0.99) $0.79 $2.77 $1.25 ($0.08) ($1.00)
Weighted Average Diluted Shares Outstanding		 53.70M 53.92M 59.34M 59.91M 60.10M 60.82M 62.69M 63.69M 62.96M 68.66M 63.71M
Weighted Average Basic & Diluted Shares Outstanding		 43.50M 43.20M 53.60M 268.10M 60.36M 61.46M 62.42M 62.87M 60.65M 63.20M 64.02M

Quarterly Income Statements for Titan International

This table shows Titan International'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		 19 -2.57 9.20 2.15 -18 1.34 -0.65 -4.55 -2.26 -56 -24
Consolidated Net Income / (Loss)		 20 -1.28 9.97 3.42 -18 1.21 0.02 -3.60 -2.46 -55 -24
Net Income / (Loss) Continuing Operations		 20 -1.28 9.97 3.42 -18 1.21 0.02 -3.60 -2.46 -55 -24
Total Pre-Tax Income 		24 -3.60 20 19 -5.28 -25 4.25 1.09 -1.39 -15 -20
Total Operating Income		 27 21 25 22 2.81 -17 12 10 9.74 -11 -14
Total Gross Profit		 66 58 77 80 59 41 69 69 71 45 71
Total Revenue		 402 390 482 532 448 384 491 461 466 410 505
Operating Revenue		 402 390 482 532 448 384 491 461 466 410 505
Total Cost of Revenue		 336 332 405 452 389 342 422 392 396 366 434
Operating Cost of Revenue		 336 332 405 452 389 342 422 392 396 366 434
Total Operating Expenses		 39 38 52 58 56 58 57 59 61 56 85
Selling, General & Admin Expense		 34 32 39 52 50 51 50 52 53 48 52
Research & Development Expense		 3.17 3.14 3.65 4.22 4.20 4.45 4.54 4.34 4.55 4.89 5.28
Other Operating Expenses / (Income)		 2.34 2.45 3.03 2.32 2.27 2.50 2.45 2.42 3.45 2.80 2.41
Restructuring Charge		 0.00 - 6.20 0.00 0.00 - 0.00 0.00 0.00 - 25
Total Other Income / (Expense), net		 -2.59 -24 -5.36 -3.45 -8.09 -8.01 -7.55 -9.07 -11 -4.30 -5.83
Interest Expense		 7.23 9.67 8.37 9.73 9.01 15 9.54 9.67 9.73 9.77 9.89
Interest & Investment Income		 3.30 - 2.88 2.55 3.06 - 2.24 2.46 3.03 2.98 2.20
Other Income / (Expense), net		 1.34 -22 0.13 3.74 -2.15 -1.23 -0.25 -1.86 -4.44 2.49 1.86
Income Tax Expense		 4.72 -2.32 9.74 15 13 -26 4.23 4.69 1.07 40 4.63
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.38 1.28 0.77 1.27 0.05 -0.13 0.67 0.94 -0.20 0.89 -0.04
Basic Earnings per Share		 $0.31 ($0.04) $0.14 $0.03 ($0.25) - ($0.01) ($0.07) ($0.04) ($0.88) ($0.38)
Weighted Average Basic Shares Outstanding		 62.60M 62.45M 64.93M 72.74M 72.01M 68.66M 63.28M 63.72M 63.90M 63.71M 64.07M
Diluted Earnings per Share		 $0.31 ($0.04) $0.14 $0.03 ($0.25) - ($0.01) ($0.07) ($0.04) ($0.88) ($0.38)
Weighted Average Diluted Shares Outstanding		 63.10M 62.96M 65.70M 73.08M 72.01M 68.66M 63.28M 63.72M 63.90M 63.71M 64.07M
Weighted Average Basic & Diluted Shares Outstanding		 61.89M 60.65M 72.87M 72.16M 63.14M 63.20M 63.70M 63.90M 63.95M 64.02M 64.37M

Annual Cash Flow Statements for Titan International

This table details how cash moves in and out of Titan International'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		 -1.26 -52 -4.26 -62 -15 51 -19 61 61 -24 6.91
Net Cash From Operating Activities		 64 44 -1.29 -36 45 57 11 161 179 141 30
Net Cash From Continuing Operating Activities		 64 44 -1.29 -36 45 57 11 161 179 141 30
Net Income / (Loss) Continuing Operations		 -90 -40 -64 13 -52 -65 50 179 84 -3.59 -61
Consolidated Net Income / (Loss)		 -90 -40 -64 13 -52 -65 50 179 84 -3.59 -61
Depreciation Expense		 70 60 58 58 54 55 48 43 42 61 67
Non-Cash Adjustments To Reconcile Net Income		 15 12 36 4.84 -6.90 24 11 -13 23 2.26 15
Changes in Operating Assets and Liabilities, net		 69 11 -32 -112 49 43 -98 -48 30 82 9.23
Net Cash From Investing Activities		 -50 -90 18 -37 -93 33 -38 -37 -57 -202 -60
Net Cash From Continuing Investing Activities		 -50 -90 18 -37 -93 33 -38 -37 -57 -202 -60
Purchase of Property, Plant & Equipment		 -48 -42 -33 -39 -36 -22 -39 -47 -61 -66 -55
Acquisitions		 - - - - - - - 0.00 0.00 -144 0.00
Sale and/or Maturity of Investments		 - - - - - - - 9.29 2.09 1.79 0.00
Other Investing Activities, net		 -1.51 -48 51 2.07 -75 22 1.20 0.93 1.79 5.88 -5.03
Net Cash From Financing Activities		 -0.73 -6.43 -24 18 32 -39 14 -61 -56 65 17
Net Cash From Continuing Financing Activities		 -0.73 -6.43 -24 18 32 -39 14 -61 -56 65 17
Repayment of Debt		 -5.52 -23 -471 -39 -101 -130 -483 -125 -30 -75 -100
Repurchase of Common Equity		 - - - - - 0.00 0.00 -25 -33 -74 0.00
Issuance of Debt		 5.73 17 448 57 134 92 497 89 6.67 213 117
Other Net Changes in Cash		 - - - - - -1.25 -6.40 -1.15 -5.74 -29 19
Cash Interest Paid		 34 34 38 31 32 29 35 32 30 37 42
Cash Income Taxes Paid		 -0.20 5.46 4.59 12 10 12 16 24 22 20 20

Quarterly Cash Flow Statements for Titan International

This table details how cash moves in and out of Titan International'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		 15 8.35 -17 20 3.19 -31 -22 10 21 -2.50 -32
Net Cash From Operating Activities		 51 39 2.01 71 60 8.74 -39 14 42 13 -47
Net Cash From Continuing Operating Activities		 51 39 2.01 71 60 8.74 -39 14 42 13 -47
Net Income / (Loss) Continuing Operations		 20 -1.28 9.97 3.42 -18 1.21 0.02 -3.60 -2.46 -55 -24
Consolidated Net Income / (Loss)		 20 -1.28 9.97 3.42 -18 1.21 0.02 -3.60 -2.46 -55 -24
Depreciation Expense		 10 11 12 15 13 21 16 17 17 18 17
Non-Cash Adjustments To Reconcile Net Income		 1.38 24 0.11 -2.40 5.69 -1.13 2.27 5.94 4.08 2.58 24
Changes in Operating Assets and Liabilities, net		 20 5.86 -20 54 60 -12 -57 -4.65 23 48 -63
Net Cash From Investing Activities		 -12 -17 -159 -13 -18 -13 -15 -10 -12 -23 -13
Net Cash From Continuing Investing Activities		 -12 -17 -159 -13 -18 -13 -15 -10 -12 -23 -13
Purchase of Property, Plant & Equipment		 -14 -19 -17 -18 -18 -13 -15 -10 -12 -18 -13
Sale of Property, Plant & Equipment		 1.51 - 0.05 1.55 0.01 - 0.20 0.08 0.04 - 0.12
Net Cash From Financing Activities		 -14 -16 146 -32 -41 -8.50 19 -1.71 -7.42 7.96 26
Net Cash From Continuing Financing Activities		 -14 -16 146 -32 -41 -8.50 19 -1.71 -7.42 7.96 26
Repayment of Debt		 -3.78 -2.55 -7.66 -30 -33 -4.18 -7.99 -30 -28 -33 -33
Issuance of Debt		 2.26 0.04 155 4.77 0.08 54 27 28 21 41 59
Effect of Exchange Rate Changes		 - - -5.57 - 1.87 - - 7.65 - - 1.85
Cash Interest Paid		 0.49 14 0.84 17 2.54 17 3.21 18 3.45 17 3.40
Cash Income Taxes Paid		 4.90 4.22 5.55 6.27 4.61 3.94 3.42 4.71 5.95 6.40 2.14

Annual Balance Sheets for Titan International

This table presents Titan International'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		 1,282 1,266 1,290 1,251 1,114 1,032 1,183 1,285 1,289 1,585 1,673
Total Current Assets		 200 148 144 779 651 659 813 910 877 912 986
Cash & Equivalents		 200 148 144 82 67 117 - - 220 196 203
Accounts Receivable		 - - - 242 185 193 255 267 219 212 239
Inventories, net		 - - - 396 333 294 393 397 365 437 471
Prepaid Expenses		 - - - 60 59 54 67 86 72 67 74
Plant, Property, & Equipment, net		 0.00 0.00 0.00 385 368 320 301 297 322 421 449
Total Noncurrent Assets		 0.00 0.00 0.00 87 95 53 68 78 91 252 238
Long-Term Investments		 - - - - - - 30 31 39 51 67
Goodwill		 - - - - - - - - 0.00 30 30
Intangible Assets		 - - - - - - - - 1.43 12 11
Noncurrent Deferred & Refundable Income Taxes		 - - - 2.87 2.33 2.59 17 39 38 42 11
Other Noncurrent Operating Assets		 - - - 84 93 51 21 8.93 12 117 119
Total Liabilities & Shareholders' Equity		 -111 -83 -44 1,251 1,114 1,032 1,183 1,285 1,289 1,585 1,673
Total Liabilities		 0.00 0.00 0.00 861 850 831 956 901 822 1,091 1,151
Total Current Liabilities		 0.00 0.00 0.00 375 327 330 451 446 363 387 428
Short-Term Debt		 - - - 52 61 31 33 31 17 12 21
Accounts Payable		 - - - 212 159 167 278 263 201 220 252
Other Current Liabilities		 - - - 111 107 131 140 152 144 155 155
Total Noncurrent Liabilities		 0.00 0.00 0.00 486 523 501 505 455 459 704 723
Long-Term Debt		 - - - 410 438 434 452 415 409 553 565
Capital Lease Obligations		 - - - - - - - - 6.15 106 111
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - 9.42 6.67 3.90 3.98 3.43 2.23 6.42 6.14
Other Noncurrent Operating Liabilities		 - - - 67 78 63 48 37 42 39 41
Total Equity & Noncontrolling Interests		 351 293 310 270 239 176 227 383 467 494 522
Total Preferred & Common Equity		 -188 -188 -157 279 235 179 229 381 467 496 514
Total Common Equity		 -188 -188 -157 279 235 179 229 381 467 496 514
Common Stock		 - - - 519 532 533 562 566 569 740 739
Retained Earnings		 - - - -29 -74 -135 -85 91 170 164 101
Treasury Stock		 - - - -7.83 -4.23 -1.20 -1.12 -23 -53 -122 -116
Accumulated Other Comprehensive Income / (Loss)		 -188 -188 -157 -204 -219 -217 -246 -252 -219 -286 -209
Noncontrolling Interest		 - - - -8.95 4.14 -3.00 -2.13 1.90 0.36 -2.42 7.24

Quarterly Balance Sheets for Titan International

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

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 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		 1,247 1,345 1,305 1,258 1,814 1,734 1,687 1,722 1,752 1,750 1,715
Total Current Assets		 901 970 934 881 1,155 1,092 1,026 1,026 1,036 1,034 1,051
Cash & Equivalents		 117 164 196 212 204 224 227 174 185 205 171
Accounts Receivable		 282 326 281 239 356 317 273 323 297 286 338
Inventories, net		 413 389 378 360 505 465 454 456 478 466 468
Prepaid Expenses		 89 91 79 71 91 87 72 73 76 77 73
Plant, Property, & Equipment, net		 288 300 308 302 450 448 440 439 452 447 439
Total Noncurrent Assets		 59 74 63 74 208 194 221 256 265 269 224
Long-Term Investments		 33 31 30 31 43 43 43 52 55 57 72
Goodwill		 - - - - 13 13 36 30 30 30 30
Intangible Assets		 - - - - 17 17 13 12 11 11 11
Noncurrent Deferred & Refundable Income Taxes		 16 35 27 32 26 16 8.11 45 43 49 11
Other Noncurrent Operating Assets		 9.53 7.81 7.00 11 109 105 120 118 125 123 102
Total Liabilities & Shareholders' Equity		 1,247 1,345 1,305 1,258 1,814 1,734 1,687 1,722 1,752 1,750 1,715
Total Liabilities		 926 922 854 825 1,183 1,120 1,089 1,183 1,175 1,176 1,213
Total Current Liabilities		 471 468 403 375 495 454 431 455 441 453 479
Short-Term Debt		 32 24 19 18 19 15 15 14 20 22 34
Accounts Payable		 257 276 232 195 288 257 234 283 265 255 278
Other Current Liabilities		 182 168 153 163 188 182 182 158 156 177 167
Total Noncurrent Liabilities		 456 454 455 455 688 666 657 728 734 723 734
Long-Term Debt		 415 413 412 410 554 536 503 572 566 557 578
Capital Lease Obligations		 - - - - 95 94 109 108 117 114 108
Noncurrent Deferred & Payable Income Tax Liabilities		 4.24 3.44 3.31 2.83 4.71 4.56 2.52 8.65 9.02 9.45 6.88
Other Noncurrent Operating Liabilities		 37 37 40 42 33 32 42 40 43 42 41
Total Equity & Noncontrolling Interests		 321 423 451 433 631 614 598 539 577 574 502
Total Preferred & Common Equity		 316 421 450 433 630 609 598 534 570 569 495
Total Common Equity		 316 424 450 433 630 609 598 534 570 569 495
Common Stock		 564 564 566 567 736 737 738 736 736 737 737
Retained Earnings		 49 123 153 172 179 181 163 163 159 157 76
Treasury Stock		 -24 -19 -27 -39 -51 -57 -64 -118 -117 -116 -113
Accumulated Other Comprehensive Income / (Loss)		 -274 -244 -242 -267 -233 -252 -239 -247 -208 -209 -205
Noncontrolling Interest		 5.22 2.40 0.86 -0.03 0.79 4.28 0.29 5.21 6.61 5.36 6.64

Annual Metrics And Ratios for Titan International

This table displays calculated financial ratios and metrics derived from Titan International'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		 53,807,043.00 54,046,512.00 59,713,184.00 59,916,973.00 60,287,585.00 61,376,981.00 62,379,525.00 - - - 63,951,494.00
DEI Adjusted Shares Outstanding		 53,807,043.00 54,046,512.00 59,713,184.00 59,916,973.00 60,287,585.00 61,376,981.00 62,379,525.00 - - - 63,951,494.00
DEI Earnings Per Adjusted Shares Outstanding		 -1.40 -0.70 -1.01 0.27 -0.80 -0.98 0.79 - - - -0.99
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -26.42% -9.27% 16.07% 9.09% -9.59% -13.07% 41.36% 21.86% -16.02% 1.32% -0.95%
EBITDA Growth		 280.08% 14.93% -2.49% 94.28% -63.76% -29.37% 443.88% 86.66% -37.81% -44.80% -11.19%
EBIT Growth		 81.81% 81.30% -1.68% 1,303.60% -133.31% -71.93% 460.01% 133.83% -44.63% -73.80% -50.39%
NOPAT Growth		 71.99% 18.08% 50.22% 456.43% -171.53% -24.34% 436.45% 118.89% -37.75% -112.70% 200.90%
Net Income Growth		 31.13% 55.74% -61.18% 120.36% -494.93% -26.32% 176.66% 259.16% -53.29% -104.29% -1,604.43%
EPS Growth		 28.81% 49.71% -28.74% 105.36% -1,500.00% -17.86% 179.80% 250.63% -54.87% -106.40% -1,150.00%
Operating Cash Flow Growth		 -45.74% -31.96% -102.96% -2,706.52% 225.61% 25.94% -81.26% 1,398.02% 11.62% -21.11% -78.78%
Free Cash Flow Firm Growth		 375.89% -101.76% 50.22% -9,404.08% 108.10% 93.81% -58.54% 163.71% -12.16% -361.21% 94.52%
Invested Capital Growth		 -100.00% 0.00% 0.00% 0.00% -10.39% -20.47% 6.38% 9.41% 0.25% 43.39% 3.33%
Revenue Q/Q Growth		 -5.13% -0.04% 4.91% -0.78% -4.08% 2.04% 9.93% 1.03% -6.16% -0.36% 1.49%
EBITDA Q/Q Growth		 513.43% 14.70% 3.71% -1.38% -22.58% 52.26% 12.68% 8.28% -16.83% -7.30% 9.08%
EBIT Q/Q Growth		 75.43% 69.38% 37.61% -2.60% -165.08% 22.58% 23.99% 10.57% -21.39% -33.86% 141.75%
NOPAT Q/Q Growth		 62.04% 38.59% 20.28% 102.99% -140.24% 4.54% 1,349.76% 14.08% -26.33% 0.88% 41.37%
Net Income Q/Q Growth		 23.73% 50.64% -49.06% 251.39% -29.47% 8.86% 2,253.35% 8.93% -34.59% 41.00% -1,167.38%
EPS Q/Q Growth		 23.11% 47.59% -33.33% 123.08% -27.27% 11.61% 887.50% 9.06% -35.90% 33.33% -733.33%
Operating Cash Flow Q/Q Growth		 -9.97% -50.22% 94.98% -92.60% 63.80% -7.19% 42.86% 39.41% -9.67% -17.74% 15.59%
Free Cash Flow Firm Q/Q Growth		 355.01% -109.07% 86.71% 22.87% 140.89% 7.26% 235.49% 19.70% -29.74% 18.11% 59.25%
Invested Capital Q/Q Growth		 -100.00% -100.00% -100.00% 11.40% 4.87% 4.84% 3.35% 3.31% 4.44% -3.90% -5.60%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 9.66% 11.17% 10.91% 12.37% 8.91% 9.08% 13.34% 16.63% 16.79% 13.97% 13.86%
EBITDA Margin		 3.48% 4.41% 3.71% 6.60% 2.65% 2.15% 8.27% 12.67% 9.38% 5.11% 4.58%
Operating Margin		 -1.96% -1.77% -0.76% 2.64% -1.96% -2.81% 4.78% 9.49% 8.16% 1.80% 1.14%
EBIT Margin		 -1.51% -0.31% -0.27% 3.01% -1.11% -2.19% 5.58% 10.70% 7.06% 1.82% 0.91%
Profit (Net Income) Margin		 -6.44% -3.14% -4.36% 0.81% -3.56% -5.17% 2.80% 8.26% 4.59% -0.19% -3.35%
Tax Burden Percent		 163.11% 109.00% 121.19% 65.86% 107.23% 111.95% 97.75% 88.55% 76.27% -43.40% 541.59%
Interest Burden Percent		 261.75% 926.91% 1,321.57% 41.13% 299.53% 210.80% 51.41% 87.17% 85.39% 24.56% -67.62%
Effective Tax Rate		 0.00% 0.00% 0.00% 34.14% 0.00% 0.00% 2.25% 11.45% 23.73% 143.40% 0.00%
Return on Invested Capital (ROIC)		 -4.20% 0.00% 0.00% 7.23% -2.73% -4.00% 14.71% 29.83% 17.75% -1.85% 1.56%
ROIC Less NNEP Spread (ROIC-NNEP)		 127.76% 0.00% 0.00% 75.16% -10.58% -14.43% 5.22% 28.83% 3.85% 1.78% -16.24%
Return on Net Nonoperating Assets (RNNOA)		 -13.44% 0.00% 0.00% -4.02% -13.03% -23.98% 8.58% 28.89% 1.94% 1.10% -13.61%
Return on Equity (ROE)		 -17.64% 0.00% 0.00% 3.21% -15.76% -27.97% 23.29% 58.72% 19.68% -0.75% -12.05%
Cash Return on Invested Capital (CROIC)		 195.80% 0.00% 0.00% -192.77% 8.23% 18.80% 8.53% 20.84% 17.49% -37.50% -1.72%
Operating Return on Assets (OROA)		 -1.52% -0.31% -0.31% 3.79% -1.36% -2.57% 8.97% 18.82% 9.99% 2.34% 1.03%
Return on Assets (ROA)		 -6.47% -3.12% -5.01% 1.03% -4.36% -6.06% 4.51% 14.52% 6.50% -0.25% -3.76%
Return on Common Equity (ROCE)		 -5.61% 0.00% 0.00% 0.48% -12.38% -24.90% 22.21% 58.74% 19.63% -0.75% -12.00%
Return on Equity Simple (ROE_SIMPLE)		 47.84% 21.12% 40.79% 4.67% -21.94% -36.30% 21.76% 47.00% 17.92% -0.72% 0.00%
Net Operating Profit after Tax (NOPAT)		 -19 -16 -7.81 28 -20 -25 83 182 113 -14 15
NOPAT Margin		 -1.37% -1.24% -0.53% 1.74% -1.37% -1.97% 4.68% 8.40% 6.23% -0.78% 0.79%
Net Nonoperating Expense Percent (NNEP)		 -131.96% -5.83% -13.71% -67.93% 7.85% 10.44% 9.48% 1.00% 13.89% -3.62% 17.80%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 21.99% 12.61% -1.24% 1.19%
Cost of Revenue to Revenue		 90.34% 88.83% 89.09% 87.63% 91.10% 90.92% 86.66% 83.37% 83.21% 86.03% 86.14%
SG&A Expenses to Revenue		 10.07% 11.46% 10.26% 8.41% 9.51% 10.40% 7.40% 6.12% 7.41% 10.39% 11.12%
R&D to Revenue		 0.80% 0.79% 0.70% 0.70% 0.68% 0.72% 0.57% 0.48% 0.69% 0.89% 1.00%
Operating Expenses to Revenue		 11.62% 12.94% 11.67% 9.74% 10.87% 11.89% 8.56% 7.14% 8.62% 12.17% 12.73%
Earnings before Interest and Taxes (EBIT)		 -21 -3.94 -4.00 48 -16 -28 99 232 129 34 17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 49 56 54 106 38 27 147 275 171 94 84
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.99 0.93 1.66 2.98 2.53 1.97 0.86 0.97
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.99 0.93 1.66 2.98 2.53 1.98 0.94 1.06
Price to Revenue (P/Rev)		 0.15 0.47 0.52 0.17 0.15 0.24 0.38 0.44 0.51 0.23 0.27
Price to Earnings (P/E)		 0.00 0.00 0.00 17.22 0.00 0.00 13.79 5.46 11.69 0.00 0.00
Dividend Yield		 0.52% 0.18% 0.16% 0.43% 0.55% 0.41% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 5.81% 0.00% 0.00% 7.25% 18.31% 8.55% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 1.00 0.99 1.22 1.78 1.91 1.71 0.93 0.99
Enterprise Value to Revenue (EV/Rev)		 0.06 0.44 0.50 0.48 0.47 0.53 0.58 0.56 0.60 0.46 0.51
Enterprise Value to EBITDA (EV/EBITDA)		 1.77 9.95 13.42 7.26 17.73 24.65 7.05 4.44 6.40 9.01 11.15
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 15.94 0.00 0.00 10.45 5.26 8.51 25.25 55.94
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 27.59 0.00 0.00 12.47 6.69 9.64 0.00 64.31
Enterprise Value to Operating Cash Flow (EV/OCF)		 1.34 12.77 0.00 0.00 14.96 11.66 96.76 7.59 6.10 6.01 31.13
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.10 0.00 0.00 0.00 11.31 5.73 21.50 9.58 9.78 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 1.18 1.89 2.31 2.13 1.16 0.92 1.36 1.34
Long-Term Debt to Equity		 0.00 0.00 0.00 1.05 1.66 2.15 1.99 1.08 0.89 1.33 1.30
Financial Leverage		 -0.11 -1.00 -1.00 -0.05 1.23 1.66 1.64 1.00 0.50 0.62 0.84
Leverage Ratio		 2.73 3.08 3.11 3.13 3.62 4.61 5.17 4.04 3.03 2.99 3.21
Compound Leverage Factor		 7.14 28.59 41.15 1.29 10.84 9.72 2.66 3.52 2.58 0.73 -2.17
Debt to Total Capital		 0.00% 0.00% 0.00% 54.20% 65.43% 69.78% 68.10% 53.77% 48.05% 57.63% 57.19%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 6.09% 8.02% 4.67% 4.56% 3.72% 1.88% 1.07% 1.74%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 48.11% 57.41% 65.11% 63.54% 50.05% 46.17% 56.56% 55.46%
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		 18.01% 26.35% 26.74% 13.02% 3.82% 3.30% -0.30% 0.23% 0.04% -0.21% 0.59%
Common Equity to Total Capital		 -43.82% -47.34% -37.11% 32.78% 30.75% 26.92% 32.20% 46.00% 51.92% 42.58% 42.21%
Debt to EBITDA		 0.00 0.00 0.00 4.36 13.04 17.16 3.29 1.62 2.53 7.11 8.32
Net Debt to EBITDA		 0.00 0.00 0.00 3.59 11.29 12.82 2.42 0.93 1.01 4.49 5.09
Long-Term Debt to EBITDA		 0.00 0.00 0.00 3.87 11.44 16.01 3.07 1.51 2.43 6.98 8.06
Debt to NOPAT		 0.00 0.00 0.00 16.59 -25.11 -18.78 5.82 2.45 3.81 -46.62 47.96
Net Debt to NOPAT		 0.00 0.00 0.00 13.65 -21.75 -14.03 4.28 1.40 1.52 -29.44 29.36
Long-Term Debt to NOPAT		 0.00 0.00 0.00 14.72 -22.03 -17.52 5.43 2.28 3.66 -45.75 46.50
Altman Z-Score		 0.00 0.00 0.00 1.96 1.66 1.55 2.48 3.46 3.08 2.01 1.87
Noncontrolling Interest Sharing Ratio		 68.21% 145.52% 142.07% 85.00% 21.41% 10.99% 4.64% -0.04% 0.27% -0.21% 0.47%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 0.00 0.00 2.08 1.99 2.00 1.80 2.04 2.42 2.35 2.30
Quick Ratio		 0.00 0.00 0.00 0.86 0.77 0.94 0.57 0.60 1.21 1.05 1.03
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 892 -16 -7.81 -742 60 116 48 127 112 -292 -16
Operating Cash Flow to CapEx		 132.01% 103.70% -3.95% -92.76% 124.79% 263.97% 27.64% 342.06% 294.99% 215.60% 54.98%
Free Cash Flow to Firm to Interest Expense		 26.22 -0.48 -0.16 -26.17 1.88 3.81 1.00 3.96 3.84 -8.02 -0.41
Operating Cash Flow to Interest Expense		 1.88 1.34 -0.03 -1.28 1.42 1.87 0.22 5.00 6.15 3.88 0.78
Operating Cash Flow Less CapEx to Interest Expense		 0.46 0.05 -0.69 -2.65 0.28 1.16 -0.58 3.54 4.07 2.08 -0.64
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.00 0.99 1.15 1.26 1.22 1.17 1.61 1.76 1.42 1.28 1.12
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 6.78 6.66 7.94 8.31 7.50 8.57 8.12
Inventory Turnover		 0.00 0.00 0.00 0.00 3.62 3.65 4.50 4.58 3.98 3.96 3.47
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 3.85 3.66 5.73 7.26 5.89 4.97 4.20
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 7.12 7.03 6.93 6.68 6.53 7.55 6.68
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 53.80 54.82 45.95 43.91 48.68 42.60 44.98
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 100.83 99.94 81.19 79.70 91.78 92.20 105.18
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 51.28 51.94 52.68 54.64 55.93 48.35 54.61
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 103.35 102.82 74.46 68.97 84.53 86.44 95.55
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 0.00 0.00 770 690 549 584 638 640 918 948
Invested Capital Turnover		 3.06 0.00 0.00 4.16 1.99 2.03 3.15 3.55 2.85 2.37 1.96
Increase / (Decrease) in Invested Capital		 -911 0.00 0.00 770 -80 -141 35 55 1.61 278 31
Enterprise Value (EV)		 86 555 731 768 680 668 1,038 1,220 1,094 850 935
Market Capitalization		 209 598 761 277 218 298 684 963 921 429 501
Book Value per Share		 ($3.49) ($3.48) ($2.63) $4.66 $3.90 $2.92 $3.68 $6.07 $7.55 $7.86 $8.04
Tangible Book Value per Share		 ($3.49) ($3.48) ($2.63) $4.66 $3.90 $2.92 $3.68 $6.07 $7.52 $7.20 $7.41
Total Capital		 428 398 423 851 764 666 712 829 900 1,165 1,219
Total Debt		 0.00 0.00 0.00 461 500 465 485 446 432 671 697
Total Long-Term Debt		 0.00 0.00 0.00 410 438 434 452 415 415 659 676
Net Debt		 -200 -148 -144 380 433 347 356 255 173 424 427
Capital Expenditures (CapEx)		 48 42 33 39 36 22 39 47 61 66 55
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 0.00 375 319 243 297 335 311 341 376
Debt-free Net Working Capital (DFNWC)		 200 148 144 456 386 360 395 494 531 537 579
Net Working Capital (NWC)		 200 148 144 404 324 329 362 463 514 525 558
Net Nonoperating Expense (NNE)		 71 24 56 15 32 40 33 3.05 30 -11 76
Net Nonoperating Obligations (NNO)		 -428 -398 -423 380 426 347 356 255 173 424 427
Total Depreciation and Amortization (D&A)		 70 60 58 58 54 55 48 43 42 61 67
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 23.38% 22.00% 19.26% 16.68% 15.43% 17.07% 18.48% 20.57%
Debt-free Net Working Capital to Revenue		 14.35% 11.68% 9.77% 28.48% 26.62% 28.59% 22.19% 22.79% 29.16% 29.10% 31.66%
Net Working Capital to Revenue		 14.35% 11.68% 9.77% 25.24% 22.39% 26.12% 20.36% 21.36% 28.23% 28.42% 30.50%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($1.74) ($0.81) ($1.12) $0.06 ($0.84) ($0.99) $0.80 $2.80 $1.26 ($0.08) ($1.00)
Adjusted Weighted Average Basic Shares Outstanding		 53.70M 53.92M 59.34M 59.82M 60.10M 60.82M 62.10M 63.04M 62.45M 68.66M 63.71M
Adjusted Diluted Earnings per Share		 ($1.74) ($0.81) ($1.12) $0.06 ($0.84) ($0.99) $0.79 $2.77 $1.25 ($0.08) ($1.00)
Adjusted Weighted Average Diluted Shares Outstanding		 53.70M 53.92M 59.34M 59.91M 60.10M 60.82M 62.69M 63.69M 62.96M 68.66M 63.71M
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		 53.96M 59.64M 59.81M 59.95M 60.36M 61.46M 62.42M 62.87M 60.65M 63.20M 64.02M
Normalized Net Operating Profit after Tax (NOPAT)		 -19 -16 -7.81 28 -20 -25 83 182 113 28 15
Normalized NOPAT Margin		 -1.37% -1.24% -0.53% 1.74% -1.37% -1.97% 4.68% 8.40% 6.23% 1.49% 0.79%
Pre Tax Income Margin		 -3.95% -2.88% -3.60% 1.24% -3.32% -4.62% 2.87% 9.33% 6.02% 0.45% -0.62%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -0.62 -0.12 -0.08 1.70 -0.50 -0.90 2.06 7.22 4.41 0.92 0.43
NOPAT to Interest Expense		 -0.56 -0.48 -0.16 0.98 -0.62 -0.81 1.73 5.67 3.89 -0.40 0.38
EBIT Less CapEx to Interest Expense		 -2.04 -1.41 -0.75 0.32 -1.64 -1.61 1.25 5.76 2.32 -0.88 -0.98
NOPAT Less CapEx to Interest Expense		 -1.99 -1.77 -0.83 -0.39 -1.76 -1.52 0.92 4.21 1.81 -2.20 -1.04
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -1.20% -2.72% -1.82% 9.21% -2.34% -0.93% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -1.20% -2.72% -1.82% 9.21% -2.34% -0.93% 0.00% 13.95% 38.92% -2,061.81% 0.00%

Quarterly Metrics And Ratios for Titan International

This table displays calculated financial ratios and metrics derived from Titan International'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		 - - - - - - 63,197,710.00 63,704,208.00 63,895,267.00 63,951,494.00 64,024,055.00
DEI Adjusted Shares Outstanding		 - - - - - - 63,197,710.00 63,704,208.00 63,895,267.00 63,951,494.00 64,024,055.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - -0.01 -0.07 -0.04 -0.88 -0.38
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -24.30% -23.46% -12.11% 10.60% 11.50% -1.70% 1.76% -13.41% 4.13% 7.00% 2.93%
EBITDA Growth		 -46.31% -77.87% -42.74% -28.26% -65.33% -75.58% -26.30% -39.91% 66.22% 290.46% -81.24%
EBIT Growth		 -53.87% -102.95% -53.45% -44.65% -97.68% -1,718.94% -54.18% -68.13% 707.00% 53.69% -203.30%
NOPAT Growth		 -45.37% -77.71% -67.20% -88.58% -90.97% -182.14% -99.52% -932.34% 247.13% 35.71% -15,906.31%
Net Income Growth		 -53.96% -102.98% -70.16% -89.27% -192.55% 194.62% -99.78% -205.32% 86.49% -4,646.41% -110,327.27%
EPS Growth		 -54.41% -106.06% -72.00% -93.75% -180.65% 0.00% -107.14% -333.33% 84.00% 0.00% -3,700.00%
Operating Cash Flow Growth		 -3.95% -32.85% -91.68% 9.32% 16.97% -77.74% -2,024.74% -79.80% -30.69% 46.36% -20.56%
Free Cash Flow Firm Growth		 298.35% 27.19% -3,107.24% -1,523.56% -1,363.33% -2,345.81% 112.51% 75.50% 87.43% 86.81% -62.95%
Invested Capital Growth		 -0.84% 0.25% 58.30% 52.12% 55.83% 43.39% -4.45% 4.89% 5.19% 3.33% -2.69%
Revenue Q/Q Growth		 -16.50% -2.88% 23.58% 10.36% -15.82% -14.38% 27.93% -6.09% 1.22% -12.01% 23.06%
EBITDA Q/Q Growth		 -33.68% -74.36% 278.35% 11.50% -67.96% -81.94% 1,041.98% -9.08% -11.36% -57.57% -45.13%
EBIT Q/Q Growth		 -39.87% -103.54% 2,612.66% 3.41% -97.48% -2,876.86% 163.30% -28.08% -36.16% -259.34% -41.21%
NOPAT Q/Q Growth		 -38.59% -33.34% -12.52% -68.10% -51.45% -706.23% 100.51% -55,279.11% 120.25% -212.28% -25.99%
Net Income Q/Q Growth		 -38.35% -106.52% 878.00% -65.69% -631.82% 106.67% -98.19% -16,481.82% 31.77% -2,142.70% 56.03%
EPS Q/Q Growth		 -35.42% -112.90% 450.00% -78.57% -933.33% 0.00% 0.00% -600.00% 42.86% -2,100.00% 56.82%
Operating Cash Flow Q/Q Growth		 -20.97% -23.38% -94.89% 3,433.22% -15.44% -85.42% -541.75% 137.09% 190.09% -69.21% -463.88%
Free Cash Flow Firm Q/Q Growth		 14.30% -52.11% -3,008.51% 10.58% -1.43% 14.87% 116.20% -275.12% 47.95% 10.66% 145.50%
Invested Capital Q/Q Growth		 -5.90% 4.44% 64.50% -5.90% -3.61% -3.90% 9.62% 3.30% -3.33% -5.60% 3.23%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 16.45% 14.95% 16.04% 15.12% 13.13% 10.74% 13.99% 15.03% 15.19% 10.88% 14.15%
EBITDA Margin		 9.54% 2.52% 7.72% 7.80% 2.97% 0.63% 5.59% 5.41% 4.74% 2.28% 1.02%
Operating Margin		 6.71% 5.31% 5.20% 4.19% 0.63% -4.44% 2.40% 2.20% 2.09% -2.67% -2.73%
EBIT Margin		 7.05% -0.26% 5.23% 4.90% 0.15% -4.76% 2.35% 1.80% 1.14% -2.06% -2.36%
Profit (Net Income) Margin		 4.89% -0.33% 2.07% 0.64% -4.06% 0.32% 0.00% -0.78% -0.53% -13.44% -4.80%
Tax Burden Percent		 80.65% 35.58% 50.60% 18.13% 344.42% -4.85% 0.52% -331.55% 176.53% 361.77% 123.62%
Interest Burden Percent		 86.12% 359.22% 78.21% 72.42% -804.26% 137.19% 36.82% 13.09% -26.27% 180.45% 164.45%
Effective Tax Rate		 19.35% 0.00% 49.40% 81.87% 0.00% 0.00% 99.48% 431.55% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 17.08% 10.59% 5.38% 1.67% 1.04% -7.36% 0.02% -12.84% 2.69% -3.66% -3.55%
ROIC Less NNEP Spread (ROIC-NNEP)		 16.20% 3.22% 4.56% 1.46% -6.48% -2.96% 0.01% -5.67% 0.33% -14.82% -6.64%
Return on Net Nonoperating Assets (RNNOA)		 10.24% 1.62% 2.87% 0.79% -3.37% -1.84% 0.01% -4.00% 0.22% -12.42% -6.02%
Return on Equity (ROE)		 27.32% 12.21% 8.25% 2.46% -2.33% -9.20% 0.03% -16.84% 2.91% -16.08% -9.57%
Cash Return on Invested Capital (CROIC)		 25.86% 17.49% -34.97% -35.15% -45.50% -37.50% 5.91% -4.24% -4.01% -1.72% 2.38%
Operating Return on Assets (OROA)		 10.92% -0.36% 5.81% 5.82% 0.18% -6.11% 2.47% 1.84% 1.19% -2.31% -2.53%
Return on Assets (ROA)		 7.59% -0.47% 2.30% 0.76% -5.11% 0.41% 0.00% -0.80% -0.55% -15.08% -5.15%
Return on Common Equity (ROCE)		 27.13% 12.18% 8.25% 2.45% -2.33% -9.22% 0.03% -16.69% 2.90% -16.00% -9.46%
Return on Equity Simple (ROE_SIMPLE)		 29.54% 0.00% 9.56% 5.22% -1.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 22 15 13 4.05 1.96 -12 0.06 -34 6.82 -7.66 -9.65
NOPAT Margin		 5.41% 3.72% 2.63% 0.76% 0.44% -3.11% 0.01% -7.31% 1.46% -1.87% -1.91%
Net Nonoperating Expense Percent (NNEP)		 0.88% 7.38% 0.82% 0.22% 7.52% -4.40% 0.01% -7.17% 2.36% 11.16% 3.09%
Return On Investment Capital (ROIC_SIMPLE)		 - 1.61% - - - -1.02% 0.01% -2.63% 0.54% -0.63% -0.79%
Cost of Revenue to Revenue		 83.56% 85.05% 83.96% 84.88% 86.87% 89.26% 86.01% 84.97% 84.81% 89.12% 85.85%
SG&A Expenses to Revenue		 8.36% 8.21% 8.17% 9.69% 11.06% 13.36% 10.16% 11.36% 11.39% 11.68% 10.37%
R&D to Revenue		 0.79% 0.80% 0.76% 0.79% 0.94% 1.16% 0.93% 0.94% 0.98% 1.19% 1.05%
Operating Expenses to Revenue		 9.73% 9.64% 10.85% 10.92% 12.50% 15.17% 11.58% 12.83% 13.10% 13.55% 16.88%
Earnings before Interest and Taxes (EBIT)		 28 -1.00 25 26 0.66 -18 12 8.31 5.30 -8.45 -12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 38 9.83 37 41 13 2.40 27 25 22 9.38 5.14
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.94 1.97 1.20 0.89 0.98 0.86 0.99 1.15 0.85 0.97 0.89
Price to Tangible Book Value (P/TBV)		 1.94 1.98 1.26 0.93 1.07 0.94 1.08 1.24 0.91 1.06 0.97
Price to Revenue (P/Rev)		 0.43 0.51 0.43 0.30 0.32 0.23 0.29 0.37 0.27 0.27 0.24
Price to Earnings (P/E)		 6.83 11.69 13.46 19.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 14.64% 8.55% 7.43% 5.20% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.68 1.71 1.12 0.93 0.99 0.93 1.00 1.08 0.91 0.99 0.95
Enterprise Value to Revenue (EV/Rev)		 0.53 0.60 0.67 0.51 0.51 0.46 0.54 0.63 0.51 0.51 0.50
Enterprise Value to EBITDA (EV/EBITDA)		 5.00 6.40 8.23 7.26 9.27 9.01 11.84 16.50 11.95 11.15 15.05
Enterprise Value to EBIT (EV/EBIT)		 6.28 8.51 11.83 11.73 18.54 25.25 50.04 495.57 132.91 55.94 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 6.67 9.64 13.48 18.10 0.00 0.00 71.89 207.03 89.35 64.31 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.17 6.10 7.49 5.64 5.49 6.01 9.93 25.31 35.36 31.13 41.93
Enterprise Value to Free Cash Flow (EV/FCFF)		 6.45 9.78 0.00 0.00 0.00 0.00 16.48 0.00 0.00 0.00 39.16
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.99 0.92 1.06 1.05 1.05 1.36 1.29 1.22 1.21 1.34 1.44
Long-Term Debt to Equity		 0.95 0.89 1.03 1.03 1.02 1.33 1.26 1.18 1.17 1.30 1.37
Financial Leverage		 0.63 0.50 0.63 0.54 0.52 0.62 0.76 0.70 0.67 0.84 0.91
Leverage Ratio		 3.32 3.03 3.00 2.85 2.86 2.99 3.02 2.93 2.93 3.21 3.30
Compound Leverage Factor		 2.86 10.87 2.34 2.07 -22.96 4.10 1.11 0.38 -0.77 5.79 5.43
Debt to Total Capital		 49.66% 48.05% 51.45% 51.22% 51.21% 57.63% 56.24% 54.89% 54.65% 57.19% 58.96%
Short-Term Debt to Total Capital		 2.04% 1.88% 1.44% 1.16% 1.23% 1.07% 1.12% 1.55% 1.70% 1.74% 2.80%
Long-Term Debt to Total Capital		 47.62% 46.17% 50.01% 50.06% 49.98% 56.56% 55.12% 53.34% 52.95% 55.46% 56.15%
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		 0.00% 0.04% 0.06% 0.34% 0.02% -0.21% 0.42% 0.52% 0.42% 0.59% 0.54%
Common Equity to Total Capital		 50.35% 51.92% 48.49% 48.44% 48.77% 42.58% 43.34% 44.59% 44.93% 42.21% 40.50%
Debt to EBITDA		 2.08 2.53 4.67 5.08 6.16 7.11 8.19 10.32 9.01 8.32 11.71
Net Debt to EBITDA		 0.90 1.01 2.95 2.97 3.51 4.49 5.52 6.79 5.60 5.09 7.76
Long-Term Debt to EBITDA		 1.99 2.43 4.54 4.96 6.02 6.98 8.03 10.03 8.73 8.06 11.15
Debt to NOPAT		 2.77 3.81 7.65 12.66 -43.19 -46.62 49.74 129.47 67.33 47.96 -213.45
Net Debt to NOPAT		 1.20 1.52 4.83 7.41 -24.56 -29.44 33.47 85.19 41.84 29.36 -141.44
Long-Term Debt to NOPAT		 2.66 3.66 7.44 12.37 -42.16 -45.75 48.74 125.82 65.24 46.50 -203.29
Altman Z-Score		 2.91 2.75 1.97 1.97 1.98 1.90 1.90 1.90 1.81 1.82 1.73
Noncontrolling Interest Sharing Ratio		 0.69% 0.27% -0.02% 0.48% 0.03% -0.21% 0.51% 0.91% 0.48% 0.47% 1.14%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.35 2.42 2.33 2.40 2.38 2.35 2.26 2.35 2.28 2.30 2.19
Quick Ratio		 1.20 1.21 1.13 1.19 1.16 1.05 1.09 1.09 1.08 1.03 1.06
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 27 13 -375 -335 -340 -290 47 -82 -43 -38 17
Operating Cash Flow to CapEx		 412.80% 203.14% 12.11% 441.46% 330.73% 65.65% -260.26% 142.87% 358.31% 71.56% -354.24%
Free Cash Flow to Firm to Interest Expense		 3.73 1.33 -68.29 -46.67 -37.78 -19.64 4.92 -8.49 -4.40 -3.91 1.76
Operating Cash Flow to Interest Expense		 7.08 4.06 0.37 9.86 6.65 0.59 -4.05 1.48 4.27 1.31 -4.71
Operating Cash Flow Less CapEx to Interest Expense		 5.37 2.06 -2.65 7.62 4.64 -0.31 -5.60 0.44 3.08 -0.52 -6.03
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.55 1.42 1.11 1.19 1.26 1.28 1.05 1.02 1.05 1.12 1.07
Accounts Receivable Turnover		 7.46 7.50 5.15 6.05 7.24 8.57 5.46 5.81 6.45 8.12 5.57
Inventory Turnover		 4.18 3.98 3.28 3.62 3.88 3.96 3.34 3.28 3.37 3.47 3.43
Fixed Asset Turnover		 6.58 5.89 4.68 4.78 4.99 4.97 4.17 3.96 4.06 4.20 4.20
Accounts Payable Turnover		 7.17 6.53 5.20 6.23 7.36 7.55 5.62 5.92 6.34 6.68 5.65
Days Sales Outstanding (DSO)		 48.95 48.68 70.86 60.35 50.38 42.60 66.80 62.83 56.60 44.98 65.54
Days Inventory Outstanding (DIO)		 87.25 91.78 111.15 100.93 94.14 92.20 109.24 111.30 108.16 105.18 106.28
Days Payable Outstanding (DPO)		 50.92 55.93 70.13 58.57 49.60 48.35 64.93 61.70 57.54 54.61 64.56
Cash Conversion Cycle (CCC)		 85.28 84.53 111.88 102.71 94.92 86.44 111.11 112.44 107.22 95.55 107.25
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 613 640 1,053 991 955 918 1,006 1,039 1,005 948 979
Invested Capital Turnover		 3.15 2.85 2.04 2.20 2.36 2.37 1.80 1.76 1.84 1.96 1.86
Increase / (Decrease) in Invested Capital		 -5.17 1.61 388 339 342 278 -47 48 50 31 -27
Enterprise Value (EV)		 1,027 1,094 1,178 921 944 850 1,002 1,123 919 935 926
Market Capitalization		 842 921 756 540 587 429 530 654 483 501 442
Book Value per Share		 $6.91 $7.55 $10.39 $8.36 $8.28 $7.86 $8.45 $8.96 $8.91 $8.04 $7.73
Tangible Book Value per Share		 $6.91 $7.52 $9.90 $7.96 $7.61 $7.20 $7.80 $8.31 $8.27 $7.41 $7.10
Total Capital		 860 900 1,300 1,258 1,226 1,165 1,233 1,279 1,267 1,219 1,222
Total Debt		 427 432 669 644 628 671 693 702 692 697 720
Total Long-Term Debt		 410 415 650 630 613 659 679 682 671 676 686
Net Debt		 184 173 422 377 357 424 467 462 430 427 477
Capital Expenditures (CapEx)		 12 19 17 16 18 13 15 10 12 18 13
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 312 311 475 429 382 341 411 430 397 376 435
Debt-free Net Working Capital (DFNWC)		 524 531 679 653 609 537 585 614 602 579 606
Net Working Capital (NWC)		 507 514 660 638 594 525 571 595 581 558 572
Net Nonoperating Expense (NNE)		 2.09 16 2.71 0.63 20 -13 0.04 -30 9.28 47 15
Net Nonoperating Obligations (NNO)		 180 173 422 377 357 424 467 462 430 427 477
Total Depreciation and Amortization (D&A)		 10 11 12 15 13 21 16 17 17 18 17
Debt-free, Cash-free Net Working Capital to Revenue		 16.08% 17.07% 27.07% 23.73% 20.63% 18.48% 22.15% 24.10% 22.02% 20.57% 23.59%
Debt-free Net Working Capital to Revenue		 26.99% 29.16% 38.67% 36.14% 32.90% 29.10% 31.56% 34.46% 33.42% 31.66% 32.88%
Net Working Capital to Revenue		 26.09% 28.23% 37.60% 35.33% 32.09% 28.42% 30.81% 33.35% 32.22% 30.50% 31.02%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.31 ($0.04) $0.14 $0.03 ($0.25) $0.00 ($0.01) ($0.07) ($0.04) ($0.88) ($0.38)
Adjusted Weighted Average Basic Shares Outstanding		 62.60M 62.45M 64.93M 72.74M 72.01M 68.66M 63.28M 63.72M 63.90M 63.71M 64.07M
Adjusted Diluted Earnings per Share		 $0.31 ($0.04) $0.14 $0.03 ($0.25) $0.00 ($0.01) ($0.07) ($0.04) ($0.88) ($0.38)
Adjusted Weighted Average Diluted Shares Outstanding		 63.10M 62.96M 65.70M 73.08M 72.01M 68.66M 63.28M 63.72M 63.90M 63.71M 64.07M
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		 61.89M 60.65M 72.87M 72.16M 63.14M 63.20M 63.70M 63.90M 63.95M 64.02M 64.37M
Normalized Net Operating Profit after Tax (NOPAT)		 22 15 16 16 1.96 -12 8.26 7.11 6.82 -7.66 7.95
Normalized NOPAT Margin		 5.41% 3.72% 3.28% 2.94% 0.44% -3.11% 1.68% 1.54% 1.46% -1.87% 1.57%
Pre Tax Income Margin		 6.07% -0.92% 4.09% 3.55% -1.18% -6.53% 0.87% 0.24% -0.30% -3.71% -3.88%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.92 -0.10 4.59 3.63 0.07 -1.24 1.21 0.86 0.55 -0.86 -1.21
NOPAT to Interest Expense		 3.01 1.50 2.31 0.56 0.22 -0.81 0.01 -3.48 0.70 -0.78 -0.98
EBIT Less CapEx to Interest Expense		 2.20 -2.10 1.57 1.39 -1.94 -2.14 -0.34 -0.18 -0.65 -2.69 -2.53
NOPAT Less CapEx to Interest Expense		 1.29 -0.50 -0.70 -1.67 -1.79 -1.71 -1.55 -4.52 -0.49 -2.61 -2.30
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 14.90% 38.92% 54.25% 106.84% -486.79% -2,061.81% 0.00% -322.14% -1,199.52% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Titan International (NYSE: TWI) showed a mixed but improving operating picture in Q1 2026, with revenue growth and better gross profit, but the quarter still ended in a sizeable loss and negative operating cash flow.

  • Q1 2026 revenue rose to $505.1 million, up from $466.5 million in Q3 2025 and $490.7 million in Q1 2025, showing decent top-line momentum.
  • Gross profit improved to $71.4 million in Q1 2026, with gross margin around 14.1%, better than Q4 2025 and slightly above several prior quarters.
  • Inventory and balance sheet size remained large, but the company still held $171.3 million in cash and equivalents at quarter-end.
  • Long-term investments increased to $71.8 million from $56.7 million in Q3 2025, adding another liquidity buffer.
  • Operating expenses were lower than revenue growth would suggest, with SG&A and R&D both relatively controlled versus prior quarters.
  • The company continued to use debt markets actively, with $59.2 million of debt issued in Q1 2026 and $33.1 million of debt repaid.
  • Capital spending stayed meaningful at $13.3 million in Q1 2026, indicating ongoing investment in the business.
  • The company’s equity base remained positive at $494.9 million, but a large accumulated deficit in AOCI still weighed on overall shareholder equity.
  • Titan reported a net loss of $24.3 million in Q1 2026, compared with smaller losses in some recent quarters and a profit in Q4 2024.
  • Operating cash flow was negative $46.5 million in Q1 2026, driven by a $63.2 million drag from working capital changes.

What stands out over the last several years:

Titan’s results have been volatile. The company had periods of strong profitability in 2023 and parts of 2024, but margins weakened sharply in 2025, including a large loss in Q4 2025 and another loss in Q1 2026. Revenue has generally held in the $460 million to $530 million quarterly range, so the bigger issue appears to be profitability rather than demand collapse.

Cash generation also fluctuated significantly. In several quarters, Titan generated solid operating cash flow, but Q1 2026 was a weak start to the year. Meanwhile, the balance sheet remains leveraged, with total liabilities of about $1.21 billion versus total equity of $494.9 million, so debt levels remain an important risk factor for investors.

Bottom line: Titan International is still a cyclical, debt-heavy industrial name. The good news is that revenue and gross profit improved in Q1 2026. The concern is that the company has not yet translated that into positive earnings or positive operating cash flow, and that keeps the stock’s fundamental story cautious for now.

07/16/26 07:06 PM ETAI Generated. May Contain Errors.

Titan International Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Titan International's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Titan International's net income appears to be on a downward trend, with a most recent value of -$61.19 million in 2025, falling from -$89.83 million in 2015. The previous period was -$3.59 million in 2024. Check out Titan International's forecast to explore projected trends and price targets.

Titan International's total operating income in 2025 was $20.76 million, based on the following breakdown:
  • Total Gross Profit: $253.46 million
  • Total Operating Expenses: $232.70 million

Over the last 10 years, Titan International's total revenue changed from $1.39 billion in 2015 to $1.83 billion in 2025, a change of 31.1%.

Titan International's total liabilities were at $1.15 billion at the end of 2025, a 5.5% increase from 2024, and a 115,104,300,000.0% increase since 2015.

In the past 10 years, Titan International's cash and equivalents has ranged from $0.00 in 2021 to $220.25 million in 2023, and is currently $202.88 million as of their latest financial filing in 2025.

Over the last 10 years, Titan International's book value per share changed from -3.49 in 2015 to 8.04 in 2025, a change of -330.5%.


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Financial statements for NYSE:TWI last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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