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Terex
(NYSE:TEX)
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Rating:67Neutral
Price Target:
$79.00
▲(29.89% Upside)
Action:Reiterated
Date:07/01/26
TEX scores highest on improving technical trend and a constructive earnings-call outlook (reaffirmed guidance, strong bookings/backlog, and synergy progress). The overall score is held back by pressured profitability versus prior years and a rich valuation (high P/E with modest yield), with balance-sheet leverage comparability also a watch item.
Positive Factors
Strong Bookings & Backlog
A $7.1B backlog and 109% book-to-bill indicate multi-quarter revenue visibility and healthy demand across segments. Durable backlog reduces near-term revenue volatility, underpins production planning, and supports margin recovery as the company converts orders into higher-margin aftermarket and service streams.
Negative Factors
Profitability Compression
A sharp decline in net margins over recent periods signals weakening earnings power and operational efficiency risks. If margins remain depressed, it will limit free cash flow upside and the ability to self-fund investments or cushion cost shocks, making durability of recent growth less profitable over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Bookings & Backlog
A $7.1B backlog and 109% book-to-bill indicate multi-quarter revenue visibility and healthy demand across segments. Durable backlog reduces near-term revenue volatility, underpins production planning, and supports margin recovery as the company converts orders into higher-margin aftermarket and service streams.
Read all positive factors
Terex Key Performance Indicators (KPIs)
Any
Operating Income by Segment
Shows the profit generated by each business unit after operating costs, highlighting which segments drive Terex’s margins and where management is most effectively controlling costs. Helps you spot high‑margin businesses, evaluate operational strength, and identify segments that could amplify gains or drag results in a downturn.
Shows the profit generated by each business unit after operating costs, highlighting which segments drive Terex’s margins and where management is most effectively controlling costs. Helps you spot high‑margin businesses, evaluate operational strength, and identify segments that could amplify gains or drag results in a downturn.
Data provided by:
The Fly
The FlyTerex (TEX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.78B
Dividend Yield1.24%
Average Volume (3M)1.11M
Price to Earnings (P/E)40.3
Beta (1Y)1.33
Revenue Growth17.03%
EPS Growth-43.69%
CountryUS
Employees11,400
SectorIndustrials
Sector Strength72
IndustryAgricultural - Machinery
Share Statistics
EPS (TTM)1.69
Shares Outstanding114,200,000
10 Day Avg. Volume1,219,135
30 Day Avg. Volume1,107,121
Financial Highlights & Ratios
PEG Ratio-0.48
Price to Book (P/B)1.68
Price to Sales (P/S)0.65
P/FCF Ratio10.91
Enterprise Value/Market Cap0.91
Enterprise Value/Revenue1.19
Enterprise Value/Gross Profit7.19
Enterprise Value/Ebitda20.58
Forecast
1Y Price Target
$78.50Price Target Upside29.07% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering12
EPS Forecast (FY)4.9
Revenue Forecast (FY)$7.93B
Terex Business Overview & Revenue Model
Company Description
Operating globally, Terex Corporation specializes in the production and distribution of aerial work platforms and a diverse range of materials processing equipment. Its operations are structured into two primary divisions: Aerial Work Platforms (A...
How the Company Makes Money
Terex makes money primarily by selling capital equipment and by providing parts and services to support the installed base of its machines. The largest revenue driver is equipment sales across its operating segments: (1) Materials Processing, whic...
Terex Earnings Call Summary
Earnings Call Date:May 01, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call showed strong operational momentum: double-digit pro forma/top-line growth, segment-level margin expansion (notably in Materials Processing and Specialty Vehicles), robust bookings and a $7.1 billion backlog. Integration of REV is progressing with near-term synergies confirmed and capacity investments underway in Utilities. Key challenges include tariff-related margin pressure (notably in Aerials), seasonal cash outflows, share count dilution and some near-term cost inflation risks (freight). Management reiterated the full-year guidance prudently given macro and tariff uncertainty. On balance, the positives — broadened revenue base, improving margins in core growth segments, backlog/bookings strength and synergy execution — outweigh the near-term headwinds.Positive Updates
Top-Line Growth and Revenue Mix
Q1 sales of $1.7 billion, up $505 million or 41% YoY on a reported basis (driven by the REV merger); pro forma revenue growth of ~10.8% (CEO cited 11%). Management notes ~80% of 2025 pro forma revenue generated in North America, with ~85% manufactured in the U.S., improving portfolio resilience.
Negative Updates
Tariff Headwinds and Margin Pressure
Q1 EBITA margin was 9.9%, down 50 basis points YoY primarily due to tariffs that were not in effect in the prior-year period. Aerials faced tariff-related headwinds and a seasonally low volume quarter resulting in breakeven EBITDA in Q1.
Read all updates
Q1-2026 Updates
Positive
Negative
Top-Line Growth and Revenue Mix
Q1 sales of $1.7 billion, up $505 million or 41% YoY on a reported basis (driven by the REV merger); pro forma revenue growth of ~10.8% (CEO cited 11%). Management notes ~80% of 2025 pro forma revenue generated in North America, with ~85% manufactured in the U.S., improving portfolio resilience.
Read all positive updates
Company Guidance
Terex reconfirmed its full‑year 2026 guidance, expecting pro forma sales to grow ~5% to $7.5–$8.1 billion and pro forma EBITDA to rise roughly $100 million (≈12% y/y) to $930 million–$1.0 billion (≈12.4% EBITDA margin at midpoint), which includes about $28 million of merger synergies in 2026 and a target $75 million run‑rate within 24 months; interest and other expense are expected at ≈$190 million (based on average debt of ≈$2.7 billion), the full‑year effective tax rate is expected to be 21%, and 2026 EPS is guided to $4.50–$5.00 (with ~115 million shares in Q2–Q4 and ~25% of full‑year EPS anticipated in Q2). Additional metrics/supporting detail: Q1 pro forma bookings were $2.1 billion (109% book‑to‑bill) with backlog of $7.1 billion, Q1 reported sales were $1.7 billion (+41% reported, +10.8% pro forma), Q1 EBITA margin was 9.9% (down 50 bps), Q1 EPS was $0.98 (including ≈$0.10 one‑time tax benefit), Q1 free cash outflow was $57 million, net working capital improved to 16.7% of sales (vs. 26% LY), net leverage was ~2.4x and is expected to improve, free cash conversion is expected at 80–90% of net income, and segment outlooks included Environmental Solutions growing mid‑single digits, Materials Processing growing high‑single digits (MP Q1 sales $419M, EBITDA margin 15%, +310 bps y/y), Specialty Vehicles expected to grow high‑single digits with margin improvement (SV Feb–Mar revenue $436M, Q1 SV EBITDA margin 14.2%, +160 bps), and Aerials guided to 2026 sales and margins similar to 2025 with >$1 billion backlog and sequential margin improvement in Q2–Q3.Terex Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
70
Positive
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.93B | 5.42B | 5.13B | 5.15B | 4.42B | 3.89B |
| Gross Profit | 981.00M | 1.05B | 1.07B | 1.18B | 871.00M | 757.40M |
| EBITDA | 343.00M | 627.00M | 579.00M | 699.00M | 463.00M | 365.50M |
| Net Income | 107.00M | 221.00M | 335.00M | 518.00M | 300.00M | 220.90M |
Balance Sheet | ||||||
| Total Assets | 10.19B | 6.14B | 5.73B | 3.62B | 3.12B | 2.86B |
| Cash, Cash Equivalents and Short-Term Investments | 392.00M | 772.00M | 388.00M | 371.00M | 304.10M | 266.90M |
| Total Debt | 2.75B | 2.81B | 2.72B | 743.00M | 864.60M | 767.40M |
| Total Liabilities | 5.37B | 4.04B | 3.90B | 1.94B | 1.94B | 1.75B |
| Stockholders Equity | 4.82B | 2.10B | 1.83B | 1.67B | 1.18B | 1.11B |
Cash Flow | ||||||
| Free Cash Flow | 322.00M | 322.00M | 189.00M | 332.10M | 151.60M | 233.70M |
| Operating Cash Flow | 430.00M | 440.00M | 326.00M | 459.30M | 261.20M | 293.40M |
| Investing Cash Flow | -409.00M | 32.00M | -2.13B | -114.40M | -154.10M | -102.20M |
| Financing Cash Flow | 49.00M | -123.00M | 1.84B | -287.80M | -54.90M | -580.10M |
Terex Technical Analysis
Positive
60.82
Price Trends
63.05
Positive
62.80
Positive
57.71
Positive
Market Momentum
2.59
Negative
53.93
Neutral
46.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TEX, the sentiment is Positive. The current price of 60.82 is below the 20-day moving average (MA) of 66.63, below the 50-day MA of 63.05, and above the 200-day MA of 57.71, indicating a bullish trend. The MACD of 2.59 indicates Negative momentum. The RSI at 53.93 is Neutral, neither overbought nor oversold. The STOCH value of 46.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TEX.
Terex Risk Analysis
Terex disclosed 31 risk factors in its most recent earnings report. Terex reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Terex Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $443.84B | 47.75 | 47.51% | 0.98% | 11.85% | -2.07% | |
68 Neutral | $8.90B | 15.80 | 12.85% | 1.56% | -0.92% | -4.01% | |
67 Neutral | $7.78B | 40.33 | 3.93% | 1.24% | 17.03% | -43.69% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $8.43B | 11.22 | 17.90% | 1.10% | -3.80% | ― | |
61 Neutral | $159.06B | 33.27 | 18.25% | 1.34% | 3.98% | -14.68% | |
51 Neutral | $13.29B | 34.73 | 4.99% | 2.67% | -4.04% | -62.88% |
* Industrials Sector Average
TEX
Terex
68.16
19.71
40.67%
AGCO
Agco
116.49
9.01
8.38%
CAT
Caterpillar
963.53
576.21
148.77%
CNH
CNH Industrial
10.72
-2.62
-19.65%
DE
Deere
621.27
117.29
23.27%
OSK
Oshkosh
142.70
19.53
15.86%
Terex Corporate Events
Executive/Board ChangesShareholder Meetings
Terex Shareholders Back Leadership, Pay and Incentive Plan
Positive
Jun 30, 2026
At its annual meeting held on June 25, 2026, Terex stockholders elected 12 directors, including Jean Marie “John” Canan and several other incumbents, to serve until the next annual meeting or until successors are chosen. The meeting al...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Terex Reports Strong Q1 2026 Sales, Reaffirms Outlook
Positive
May 1, 2026
On May 1, 2026, Terex reported first-quarter 2026 net sales of $1.7 billion, up 41% year over year on a reported basis and 11% on a pro forma basis, driven by growth across all segments and the addition of Specialty Vehicles. Despite a reported lo...
Financial Disclosures
Terex to Review First Quarter 2026 Financial Results
Neutral
Apr 21, 2026
Terex Corporation announced on April 17, 2026, that it will host a conference call to review its first quarter 2026 financial results on Friday, May 1, 2026, at 8:30 a.m. Eastern Time. President and CEO Simon Meester and Senior Vice President and ...
Regulatory Filings and ComplianceShareholder Meetings
Terex Sets Date for 2026 Annual Stockholder Meeting
Neutral
Apr 13, 2026
Terex Corporation’s board of directors has set June 25, 2026 as the date for the company’s 2026 annual meeting of stockholders, a change of more than 30 days from the 2025 meeting date that requires formal notice under U.S. securities ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.