Terex (TEX) financial statements
Terex reported revenue of $5.4B in fiscal 2025, up 2.2% a year over 9 years.
Net income was $221M and the operating margin 8.8%, against -3.2% in 2016.
Free cash flow was $322M, and the company returned $45M in dividends and $56M in net buybacks.
The diluted share count fell 39% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Terex's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.4B | $3.8B | $4.5B | $4.4B | $3.1B | $3.9B | $4.4B | $5.2B | $5.1B | $5.4B |
| Cost of revenue | $3.7B | $3.0B | $3.6B | $3.5B | $2.5B | $3.1B | $3.5B | $4.0B | $4.1B | $4.4B |
| Gross profit | $712M | $767M | $962M | $888M | $539M | $757M | $871M | $1.2B | $1.1B | $1.1B |
| Research and development | $86M | $56M | $63M | $72M | $59M | $52M | $22M | $28M | $25M | $39M |
| Selling, general and admin | $678M | $539M | $549M | $553M | $471M | $429M | $451M | $540M | $542M | $576M |
| Operating income | -$142M | $228M | $412M | $335M | $68M | $328M | $420M | $637M | $526M | $475M |
| Interest expense | $102M | $67M | $73M | $88M | $66M | $52M | $49M | $63M | $89M | $177M |
| Pre-tax income | -$271M | $163M | $287M | $248M | $11M | $264M | $367M | $580M | $408M | $292M |
| Income tax | -$77M | $52M | $45M | $38M | $2M | $46M | $67M | $63M | $73M | $71M |
| Net income | -$176M | $129M | $114M | $54M | -$11M | $221M | $300M | $518M | $335M | $221M |
| EPS (diluted) | -$1.63 | $1.36 | $1.48 | $0.76 | -$0.15 | $3.12 | $4.32 | $7.58 | $4.96 | $3.33 |
| Diluted shares | 108M | 95M | 77M | 72M | 70M | 71M | 69M | 68M | 68M | 66M |
| Gross margin | 16.0% | 20.2% | 21.3% | 20.4% | 17.5% | 19.5% | 19.7% | 22.8% | 20.8% | 19.4% |
| Operating margin | -3.2% | 6.0% | 9.1% | 7.7% | 2.2% | 8.4% | 9.5% | 12.4% | 10.3% | 8.8% |
| Net margin | -4.0% | 3.4% | 2.5% | 1.2% | -0.3% | 5.7% | 6.8% | 10.1% | 6.5% | 4.1% |
Balance sheet
Fiscal years, from Terex's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $428M | $572M | $340M | $535M | $665M | $267M | $304M | $371M | $388M | $772M |
| Receivables | $512M | $580M | $535M | $402M | $381M | $508M | $548M | $548M | $643M | $712M |
| Inventory | $854M | $970M | $919M | $848M | $610M | $814M | $988M | $1.2B | $1.1B | $1.1B |
| Total current assets | $2.7B | $2.4B | $2.4B | $2.0B | $1.9B | $1.8B | $2.0B | $2.2B | $2.3B | $2.7B |
| Property, plant and equipment | $305M | $311M | $317M | $389M | $407M | $430M | $466M | $570M | $714M | $760M |
| Goodwill | $260M | $274M | $265M | $270M | $275M | $280M | $284M | $295M | $1.1B | $1.1B |
| Total assets | $5.0B | $3.5B | $3.5B | $3.2B | $3.0B | $2.9B | $3.1B | $3.6B | $5.7B | $6.1B |
| Total current liabilities | $1.4B | $1.0B | $1.2B | $872M | $723M | $910M | $999M | $1.1B | $1.1B | $1.2B |
| Long-term debt | $1.6B | $980M | $1.2B | $1.2B | $1.2B | $668M | $774M | $620M | $2.6B | $2.6B |
| Total liabilities | $3.5B | $2.2B | $2.6B | $2.3B | $2.1B | $1.8B | $1.9B | $1.9B | $3.9B | $4.0B |
| Shareholders' equity | $1.5B | $1.2B | $860M | $932M | $922M | $1.1B | $1.2B | $1.7B | $1.8B | $2.1B |
| Net debt | $1.1B | $413M | $875M | $641M | $509M | $407M | $471M | $252M | $2.2B | $1.8B |
Cash flow
Fiscal years, from Terex's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $377M | $153M | $94M | $173M | $225M | $293M | $261M | $459M | $326M | $440M |
| Capital spending | $73M | $44M | $104M | $109M | $64M | $60M | $110M | $127M | $137M | $118M |
| Free cash flow | $304M | $110M | -$10M | $64M | $161M | $234M | $151M | $332M | $189M | $322M |
| Stock-based compensation | $38M | $38M | $37M | $43M | $24M | $33M | $30M | $44M | $30M | $32M |
| Dividends paid | $30M | $30M | $30M | $31M | $8M | $34M | $36M | $43M | $46M | $45M |
| Share buybacks (net) | -$83M | -$925M | -$428M | -$7M | -$56M | -$3M | -$101M | -$63M | -$49M | -$56M |
| Net borrowing | -$189M | -$583M | $232M | -$44M | -$6M | -$503M | $97M | -$159M | $2.0B | -$7M |
| Free cash flow margin | 6.8% | 2.9% | -0.2% | 1.5% | 5.2% | 6.0% | 3.4% | 6.4% | 3.7% | 5.9% |
| Dividends per share | $0.28 | $0.31 | $0.39 | $0.44 | $0.12 | $0.47 | $0.52 | $0.63 | $0.68 | $0.68 |
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Open TEX in InvestinglyQuestions
What was Terex's revenue in 2025?
$5.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Terex generate?
$322M in fiscal 2025 (operating cash flow minus capital spending).
From Terex's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.