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Terex Corp (TEX) stock

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NYSE: TEX NYSE Construction Machinery & Heavy Transportation Equipment

C Fundamentals grade

Terex Corp is a US-listed company in the construction machinery & heavy transportation equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 60% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 60% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Terex Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 4 selling0 purchases and 6 sales by directors and officers, last 12 monthsInsider trades
  • Funds233 adding, 226 cuttingOf 70 active managers that changed their stake, 30 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Terex files

10-Q filed October 29: Terex

Terex Corp grew revenue to $7.49bn over the twelve months to September 2026, up 40.1% on a year earlier and an acceleration from the 29.2% pace recorded a quarter earlier. Among the 20 construction machinery & heavy transportation equipment companies we cover, that growth ranks second. Profitability told a different story, though: free-cash-flow margin slipped to 3.3%, down from 5.2% a year earlier. Meanwhile, the diluted share count has climbed 46.6% on a year earlier, a dilution that works against existing holders even as the top line expands.

Our model value for Terex is under review, so past values are not shown until it is resolved.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Terex stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $6.68bn, up 29.2% on a year earlier, faster than the 17.0% growth a quarter earlier. That growth ranks 2 of 14 among the construction machinery & heavy transportation equipment companies we cover. Free-cash-flow margin fell to 3.2% from 4.6% a year earlier. The diluted share count is up 28.1% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 7 financial-health checks.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Terex Corp's trailing-twelve-month revenue grew 40.1% year on year, with a free-cash-flow margin of 3.3%. Where it stands out: revenue growth of 40.1% ranks 2 of 23 construction machinery & heavy transportation equipment companies we cover. Where it lags: change in share count of 46.6% ranks 20 of 21 construction machinery & heavy transportation equipment companies we cover.

Our discounted-cash-flow model values the business at ~$88 per share in the base case (~$62–$120 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 40.1% (+10.9pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 40.1% over the last 12 months, against a median of 10.1% for construction machinery & heavy transportation equipment companies we cover.
  • Growth speeding up. The growth rate is 10.9 points higher than a quarter earlier.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Share dilution. Diluted shares rose 46.6% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 47% and a beta of 1.7 against the S&P 500.
  • Gross margin slipping. Gross margin is down 2.6 points on a year ago.

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$1.50 against an average estimate of $1.42: beat by 5.4%
Revenue
$2.20bn, up 58.4% on a year earlier
Share reaction
+2.0% in the first session after the results on October 30, 2026, against -2.2% for the S&P 500
Next report
October 28, 2026; average EPS estimate $1.08

Terex's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.7%
  • 1 week+13.0%
  • 1 month+1.7%
  • This year+8.9%
  • 1 year+26.8%
  • 5 years+31.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$7.5B
Operating margin
5.7%
Net margin
2.6%
EPS (TTM, diluted)
$2.03

Growth

Revenue growth
+40.1%
Change in growth rate
+10.9 pts
Share count change
+46.6%

Cash

Free cash flow (TTM)
$249M
FCF margin
3.3%
Stock pay % of revenue
0.9%

Earnings

Last results
October 30, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results
  3. Our research
  4. Announcement
  5. Dividend
  6. Results
  7. Announcement
  8. Results
  9. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Terex Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 60% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Terex Corp as an operating company, with every model that fits that kind of business. Cost of equity 10.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.16 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$71 ~$61–$98 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$130 ~$93–$180 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$110 ~$95–$130 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Terex Corp with Construction Machinery & Heavy Transportation Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$16.34$28.22$43.54$25.16$27.59$32.51$41.36$40.76$55.47$45.16$52.96$57.68
Market value$1.8bn$3.0bn$4.1bn$1.9bn$2.0bn$2.3bn$2.9bn$2.8bn$3.8bn$3.1bn$3.5bn$5.6bn
+ Net debt (− = net cash)$1.5bn$1.2bn$427m$891m$650m$515m$411m$473m$252m$2.2bn$1.8bn$2.2bn
Enterprise value$3.2bn$4.2bn$4.6bn$2.8bn$2.6bn$2.8bn$3.3bn$3.3bn$4.0bn$5.3bn$5.3bn$7.8bn
Multiples
Price / sales 0.4x0.7x1.1x0.4x0.5x0.7x0.8x0.6x0.7x0.6x0.6x0.8x
Price / earnings 12.3x—32.1x17.0x36.4x—13.3x9.4x7.3x9.1x15.9x28.4x
Price / free cash flow 12.3x9.5x34.1xn/m29.2x14.2x12.5x18.7x11.4x16.2x10.9x10.4x
EV / EBITDA 8.1x—16.2x6.2x6.9x23.7x8.8x7.1x5.8x8.7x8.4x10.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

36 /100

Weak moat

How hard Terex's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 10 / 20

    Cash operating profit has been a median 8.7% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 19.8%, moving by 2.2 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 8.3%; its worst year was -3.0%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 4 of 7 years, at a median 1.5% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 37.6% over five years; stock-based pay has been a median 0.8% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $4.92 −0% $8.1bn +50%
Next $5.86 +19% $8.7bn +7%

Next year's EPS estimate has moved −0.4% in 90 days, across 14 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.8% on 90 days ago. In the last 30 days, 1 analyst raised Terex Corp's forecast and 2 cut it.

Consensus EPS forecast Terex Corp, last 90 days
$4.50 $5.00 $5.50 $6.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.96 Current fiscal year, 60 days ago: $5.02 Current fiscal year, 30 days ago: $5.02 Current fiscal year, 7 days ago: $4.99 Current fiscal year, Now: $4.92 $4.92 Next fiscal year, 90 days ago: $5.88 Next fiscal year, 60 days ago: $5.97 Next fiscal year, 30 days ago: $5.97 Next fiscal year, 7 days ago: $5.93 Next fiscal year, Now: $5.86 $5.86

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.96$5.88
60 days ago $5.02$5.97
30 days ago $5.02$5.97
7 days ago $4.99$5.93
Now $4.92$5.86

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.42 $1.50 +5.4%
Jun 2026 $1.23 $1.37 +11.2%
Mar 2026 $0.78 $0.98 +26.4%
Dec 2025 $1.11 $1.12 +1.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

14 analysts, Oct 2026
Buy964%
Hold429%
Sell17%

Monthly trend

  1. Oct 2026364114
  2. Sep 2026364114
  3. Aug 2026364114
  4. Jul 2026364114

Counts of recommendations published by analysts covering Terex Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.3%
of tradable shares
Days to cover
5.38
at average volume
Short interest, 1 month
+13%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.8%
of shares
Employees
10,700
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +26.8%

$45.49 on October 31, 2025 to $57.68

ThenNowEffect
Revenue (last 12 months) $5.2bn $6.7bn +29.2%
Net margin 3.5% 2.2% −35.6%
P/E multiple 17.0x 33.2x +95.1%
Share count 67m 86m −21.9%

Biggest factor: p/e multiple.

Last 3 years +19.3%

$48.36 on November 3, 2023 to $57.68

ThenNowEffect
Revenue (last 12 months) $5.0bn $6.7bn +34.2%
Net margin 9.0% 2.2% −75.1%
P/E multiple 7.4x 33.2x +346.0%
Share count 69m 86m −20.0%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
TEX+27%−1%+36%−19%+17%+9%
Industry peers (median)+11%−13%+28%+25%+4%+12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
TEX75%33%58%42%58%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
TEX−28%−41%−33%−32%−34%−33%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 74% from January 19, 2018 to March 23, 2020. Getting back needed a 287% gain, reached on March 17, 2021, 359 days after the low.

Price behaviour

52-week range
$41.45 – $74.39
From 52-week high
−22.5%
vs 50-day average
+1.1%
vs 200-day average
−6.4%
Volatility (1 year)
47%
Beta vs S&P 500
1.73

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±5.8%
After a week
6 up, 4 down
typical move ±6.8%
After a month
5 up, 5 down
typical move ±6.3%
Results releasedNext dayS&P 500 next day5 days21 days
October 30, 2026 +2.0% −2.2% — —
October 28, 2026 +13.8% 0.0% — —
August 3, 2026 +5.2% +3.3% +5.6% −5.4%
July 30, 2026 −2.7% +2.4% +1.2% −1.0%
May 5, 2026 +8.8% +2.2% +8.3% +6.2%
May 1, 2026 −5.1% −0.1% +2.3% −1.4%
February 12, 2026 +0.2% −1.5% −1.3% −13.8%
February 11, 2026 +10.7% −1.6% +16.4% +0.5%
October 30, 2025 −17.8% −0.8% −17.4% −18.3%
August 4, 2025 +1.1% +1.0% −0.6% +1.0%
July 31, 2025 −1.7% −2.0% −2.6% +0.7%
May 5, 2025 −0.8% −1.4% +12.5% +14.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Terex Corp in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Terex Corp
$5B $6B $7B $8B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $5.2B Revenue (TTM), FY24 Q1: $5.2B Revenue (TTM), FY24 Q2: $5.2B Revenue (TTM), FY24 Q3: $5.1B Revenue (TTM), FY24 Q4: $5.1B Revenue (TTM), FY25 Q1: $5.1B Revenue (TTM), FY25 Q2: $5.2B Revenue (TTM), FY25 Q3: $5.3B Revenue (TTM), FY25 Q4: $5.4B Revenue (TTM), FY26 Q1: $5.9B Revenue (TTM), FY26 Q2: $6.7B Revenue (TTM), FY26 Q3: $7.5B $7.5B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $5.2B
FY24 Q1 $5.2B
FY24 Q2 $5.2B
FY24 Q3 $5.1B
FY24 Q4 $5.1B
FY25 Q1 $5.1B
FY25 Q2 $5.2B
FY25 Q3 $5.3B
FY25 Q4 $5.4B
FY26 Q1 $5.9B
FY26 Q2 $6.7B
FY26 Q3 $7.5B
Revenue growth, TTM YoY Terex Corp
-20% 0% 20% 40% 60% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 16.6% Revenue growth, TTM YoY, FY24 Q1: 12.0% Revenue growth, TTM YoY, FY24 Q2: 4.2% Revenue growth, TTM YoY, FY24 Q3: -0.7% Revenue growth, TTM YoY, FY24 Q4: -0.5% Revenue growth, TTM YoY, FY25 Q1: -2.8% Revenue growth, TTM YoY, FY25 Q2: -0.3% Revenue growth, TTM YoY, FY25 Q3: 4.6% Revenue growth, TTM YoY, FY25 Q4: 5.7% Revenue growth, TTM YoY, FY26 Q1: 17.0% Revenue growth, TTM YoY, FY26 Q2: 29.2% Revenue growth, TTM YoY, FY26 Q3: 40.1% 40.1%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 16.6%
FY24 Q1 12.0%
FY24 Q2 4.2%
FY24 Q3 -0.7%
FY24 Q4 -0.5%
FY25 Q1 -2.8%
FY25 Q2 -0.3%
FY25 Q3 4.6%
FY25 Q4 5.7%
FY26 Q1 17.0%
FY26 Q2 29.2%
FY26 Q3 40.1%
Operating margin (TTM) Terex Corp
4% 6% 8% 10% 12% 14% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 12.4% Operating margin (TTM), FY24 Q1: 12.4% Operating margin (TTM), FY24 Q2: 12.1% Operating margin (TTM), FY24 Q3: 11.5% Operating margin (TTM), FY24 Q4: 10.3% Operating margin (TTM), FY25 Q1: 8.6% Operating margin (TTM), FY25 Q2: 7.2% Operating margin (TTM), FY25 Q3: 7.3% Operating margin (TTM), FY25 Q4: 8.8% Operating margin (TTM), FY26 Q1: 5.5% Operating margin (TTM), FY26 Q2: 5.7% Operating margin (TTM), FY26 Q3: 5.7% 5.7%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 12.4%
FY24 Q1 12.4%
FY24 Q2 12.1%
FY24 Q3 11.5%
FY24 Q4 10.3%
FY25 Q1 8.6%
FY25 Q2 7.2%
FY25 Q3 7.3%
FY25 Q4 8.8%
FY26 Q1 5.5%
FY26 Q2 5.7%
FY26 Q3 5.7%
FCF margin (TTM) Terex Corp
0% 2% 4% 6% FY13 Q1 FY13 Q4 FY25 Q2 FY26 Q3 FCF margin (TTM), FY13 Q1: 5.1% FCF margin (TTM), FY13 Q2: 4.8% FCF margin (TTM), FY13 Q3: 3.5% FCF margin (TTM), FY13 Q4: 1.5% FCF margin (TTM), FY24 Q4: 3.7% FCF margin (TTM), FY25 Q1: 4.0% FCF margin (TTM), FY25 Q2: 4.6% FCF margin (TTM), FY25 Q3: 5.2% FCF margin (TTM), FY25 Q4: 5.9% FCF margin (TTM), FY26 Q1: 5.4% FCF margin (TTM), FY26 Q2: 3.2% FCF margin (TTM), FY26 Q3: 3.3% 3.3%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY13 Q1 5.1%
FY13 Q2 4.8%
FY13 Q3 3.5%
FY13 Q4 1.5%
FY24 Q4 3.7%
FY25 Q1 4.0%
FY25 Q2 4.6%
FY25 Q3 5.2%
FY25 Q4 5.9%
FY26 Q1 5.4%
FY26 Q2 3.2%
FY26 Q3 3.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 3,858 4,418 6,158 6,982 7,084 5,484 5,022 4,443 3,794 4,517 4,353 3,076 3,887 4,418 5,152 5,127 5,421 7,487
Gross profit 297 603 924 1,400 1,440 1,052 971 712 767 962 888 539 757 871 1,177 1,068 1,051 1,281
EBITDA −308 31 186 519 571 499 400 −68 281 458 381 118 378 467 693 608 632 719
Operating income −402 −74 60 367 419 400 324 −142 228 413 335 68 328 420 637 526 475 425
Net income −398 359 45 106 226 319 146 −176 129 114 54 −11 221 300 518 335 221 198
Diluted EPS −$3.88 $3.30 $0.41 $0.93 $1.93 $2.79 $1.33 −$1.63 $1.36 $1.48 $0.76 −$0.15 $3.12 $4.32 $7.58 $4.96 $3.33 $2.03
Growth (year on year)
Revenue −51.5% +14.5% +39.4% +13.4% +1.5% −22.6% −8.4% −11.5% −14.6% +19.1% −3.6% −29.3% +26.3% +13.7% +16.6% −0.5% +5.7% +40.1%
EBITDA −231.9% — — +179.8% +9.9% −12.5% −19.8% −116.9% — +62.8% −16.7% −69.0% +220.2% +23.5% +48.4% −12.3% +3.9% +32.2%
Operating income −335.2% — — — +14.3% −4.6% −19.1% −143.8% — +80.8% −18.8% −79.6% +379.5% +28.0% +51.7% −17.4% −9.7% +8.7%
Net income — — −87.4% — — +41.2% −54.3% −220.7% — −11.7% −52.2% — — +35.8% +72.7% −35.3% −34.0% +26.9%
Diluted EPS — — −87.6% — — +44.6% −52.3% −222.6% — +8.8% −48.6% — — +38.5% +75.5% −34.6% −32.9% −13.4%
Margins
Gross margin 7.7% 13.6% 15.0% 20.1% 20.3% 19.2% 19.3% 16.0% 20.2% 21.3% 20.4% 17.5% 19.5% 19.7% 22.8% 20.8% 19.4% 17.1%
EBITDA margin −8.0% 0.7% 3.0% 7.4% 8.1% 9.1% 8.0% −1.5% 7.4% 10.1% 8.8% 3.8% 9.7% 10.6% 13.5% 11.9% 11.7% 9.6%
Operating margin −10.4% −1.7% 1.0% 5.3% 5.9% 7.3% 6.4% −3.2% 6.0% 9.1% 7.7% 2.2% 8.4% 9.5% 12.4% 10.3% 8.8% 5.7%
Net margin −10.3% 8.1% 0.7% 1.5% 3.2% 5.8% 2.9% −4.0% 3.4% 2.5% 1.2% −0.3% 5.7% 6.8% 10.1% 6.5% 4.1% 2.6%
Free-cash-flow margin −2.4% −15.1% −0.9% 3.0% 1.5% 6.4% 2.9% 7.2% 3.2% 0.1% 1.6% 5.2% 6.0% 3.4% 6.4% 3.7% 5.9% 7.3%
Cash flow
Cash from operations −41 −610 23 292 189 411 228 377 153 94 173 225 293 261 459 326 440 543
Capital spending 50 55 78 81 80 58 82 58 32 91 106 65 60 110 127 137 118 0
Free cash flow −91 −665 −55 211 109 352 146 319 121 3 68 161 234 151 332 189 322 543
Stock-based pay 32 35 23 29 44 47 39 38 39 37 43 24 33 30 44 30 32 70
Free cash flow after stock pay −123 −700 −79 182 65 306 108 281 83 −34 25 137 201 121 288 159 290 473
Balance sheet
Cash 971 894 774 678 408 393 371 429 572 340 535 665 267 304 371 388 772 407
Total debt 1,966 2,033 2,300 2,099 1,977 1,789 1,826 1,590 998 1,231 1,186 1,180 678 777 623 2,600 2,592 2,578
Net debt (negative = net cash) 995 1,139 1,526 1,421 1,569 1,396 1,455 1,162 427 891 650 515 411 473 252 2,212 1,820 2,171
Diluted shares 103m 109m 111m 114m 117m 114m 110m 108m 95m 77m 72m 70m 71m 69m 68m 68m 66m 98m
Returned to shareholders
Dividends — — 0 0 6 22 26 30 30 30 31 8 34 36 43 46 45 69
Buybacks — 1 0 0 31 171 51 83 925 428 7 56 3 101 63 49 56 76
Total returned — 1 0 0 37 193 77 113 954 458 39 64 37 137 106 95 101 145

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 7 checks passed · September 30, 2026
What it owns · $10.3bn
Short-term assets $3.4bnLonger-term assets $6.9bn
What it owes, and who funded it · $10.3bn
Short-term liabilities $1.9bnLonger-term liabilities $3.4bnShareholders' equity $5.0bn
  • Short-term assets cover short-term liabilities $3.4bn of assets due within a year against $1.9bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.4bn short-term assets against $3.4bn of longer-dated liabilities.
  • More cash than debt $407m of cash against $2.6bn of debt.
  • Debt below 40% of shareholders' equity Debt is 52% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 66% to 52% over five years.
  • A year's operating cash flow covers at least 20% of debt $543m of operating cash flow against $2.6bn of debt.
  • Operating profit covers interest at least five times over Operating income of $425m against $191m of interest.

From Terex Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$76M
Dividends (TTM)
$69M
Returned to shareholders
58%
of free cash flow
Buybacks, last 3 fiscal years
$168M
Diluted share count
+46.6%
year over year
Total shareholder yield
2.2%
dividends 1.1% + buybacks 1.2% of market value
Dividend payout ratio
35%
of net income paid out
Sales & admin spending
10.2%
of revenue

Competitors: side by side with peers

Closest by revenue in construction machinery & heavy transportation equipment
Last 12 months unless stated TEX OSK WAB ALSN HY FSS Median
Revenue, last 12 months $7.5bn $10.8bn $12.2bn $4.4bn $3.5bn $2.5bn $2.1bn
Revenue growth, last 12 months 40.1% 4.2% 13.2% 37.6% −11.1% 24.0% 10.1%
Revenue growth, 3-year average 13.3% 4.6% 8.9% 14.2% −3.6% 15.2% 4.3%
Revenue growth, latest quarter 58.4% 5.7% 8.1% 92.4% −15.0% 18.1% 17.8%
Gross margin 17.1% 15.4% 35.6% 36.4% 15.4% 29.1% 21.4%
Operating margin 5.7% 6.8% 17.2% 19.6% −2.3% 16.2% 5.9%
Operating margin, 3-year average 8.2% 8.5% 16.3% 27.0% 2.1% 15.7% 8.6%
Net margin 2.6% 4.6% 11.2% 12.0% −3.3% 11.7% 3.2%
Cash from operations / revenue 7.3% 10.5% 17.1% 21.3% 2.2% 15.8% 8.9%
Free-cash-flow margin 3.3% 9.0% 14.6% 16.7% 0.4% 14.3% 7.0%
Free-cash-flow margin, 3-year average 3.4% 5.3% 13.9% 19.7% 1.5% 12.0% 5.9%
Stock pay / revenue 0.9% 0.4% 0.9% 0.7% 0.2% 0.6% 0.6%
Change in share count 46.6% −3.1% −0.8% −2.6% −0.2% −0.1% −0.1%

Median of all 23 companies we cover in construction machinery & heavy transportation equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

23 construction machinery & heavy transportation equipment companies
Measure Company Peer median Rank
Revenue growth Growth 40.1% 10.1% 2 of 23
Change in growth rate Growth +10.9pp +4.6pp 5 of 23
Gross margin Profitability 17.1% 21.4% 16 of 23
Operating margin Profitability 5.7% 5.8% 12 of 21
Net margin Profitability 2.6% 3.2% 13 of 23
Free-cash-flow margin Cash generation 3.3% 7.0% 14 of 23
Stock pay as % of revenue Cash generation 0.9% 0.6% 15 of 20
Long-term debt as % of assets Balance sheet 24.8% 24.0% 11 of 18
Change in share count Balance sheet 46.6% -0.1% 20 of 21

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Aerial Work Platforms Products $1.7B 31.8% ▼ 15.1%
Utility Products $1.6B 29.3% ▲ 100.4%
Materials Processing Equipment $1.1B 19.8% ▼ 13.2%
Specialty Equipment $605M 11.2% ▼ 8.9%
Other Products and Services $427M 7.9% ▲ 6.7%
Geography
Region Revenue YoY
North America $3.9B ▲ 16.4%
United States $3.6B ▲ 16.1%
Western Europe $742M ▼ 13.4%
Asia Pacific $454M ▼ 18.2%
Other Geographic Areas $307M ▼ 11.8%

These categories overlap or exclude eliminations, so shares aren't shown.

From Terex Corp's 10-K filed February 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$8.5B
Institutions reporting
481
Shares held vs prior quarter
▲ 4.9%
Positions opened / closed
72 / 63

Top buyers and sellers, Q2 2026: 233 institutions bought and 226 sold ; the biggest buyer was Ameriprise Financial Inc (+878K shares) and the biggest seller Arrowstreet Capital, Limited Partnership (−1.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $1.2B 17.1M 14.6% ▲ 0.3%
Blackrock, Inc. $1.1B 14.7M 12.6% ▲ 4.7%
Vanguard Portfolio Management LLC $415M 5.7M 4.9% ▼ 1.3%
Vanguard Capital Management LLC $359M 5.0M 4.2% ▼ 2.5%
Dimensional Fund Advisors LP $319M 4.4M 3.8% ▼ 0.7%
State Street Corp $317M 4.4M 3.7% ▲ 6.2%
Wellington Management Group LLP $242M 3.3M 2.9% ▼ 11.0%
Geode Capital Management, LLC $228M 3.1M 2.7% ▲ 9.8%
Massachusetts Financial Services Co $136M 1.9M 1.6% ▲ 5.7%
Invesco Ltd. $134M 1.9M 1.6% ▲ 68.5%
Fisher Asset Management, LLC $133M 1.8M 1.6% ▼ 2.9%
Alliancebernstein L.P. $124M 2.1M 1.5% ▼ 1.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Terex Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $2.4M 6 trades by 4 insiders · 0% under pre-set plans
Net ▼ $2.4M net selling
Insider Date Trade Shares Price Value
Johnston Stephen Former VP CAO and Controller June 23, 2026 Sell 375 $69.90 $26,213
Johnston Stephen Former VP CAO and Controller June 23, 2026 Sell 1,327 $69.92 $92,784
Johnston Stephen Former VP CAO and Controller June 4, 2026 Sell 379 $63.19 $23,949
Gross Joshua President - Aerials May 4, 2026 Sell 5,874 $61.53 $361,427
Hegarty Kieran President, Materials Processin February 17, 2026 Sell 11,980 $69.24 $829,495
Virnig Michael Edward President, Specialty Vehicles February 12, 2026 Sell 16,330 $67.35 $1.1M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 9 trades and filings

No trades in Terex Corp disclosed in the last 12 months; 9 earlier trades on record.

  • Josh Gottheimer(D-NJ 5):Sale (full), $1,001 - $15,000, traded April 25, 2024, filed May 15, 2024
  • Josh Gottheimer(D-NJ 5):Sale (partial), $1,001 - $15,000, traded February 13, 2024, filed March 7, 2024
  • Daniel S. Goldman(D-NY 10):Purchase, $1,001 - $15,000, traded April 10, 2023, filed May 19, 2023

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

  • October 30, 2026
  • October 28, 2026
  • August 3, 2026
  • July 30, 2026
  • May 5, 2026
  • May 1, 2026

Recent SEC filings

Data status

When each part of this page on Terex Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Terex Corp in brief

What does Terex Corp do?
Terex Corp is a US-listed company in the construction machinery & heavy transportation equipment industry. Its financial year ends in December.
What is Terex Corp's stock ticker?
Terex Corp trades under the ticker TEX on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Terex Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Terex Corp reported revenue of $7.5B, 40.1% higher than a year earlier, according to its SEC filings.
What is Terex Corp's free cash flow?
Terex Corp's free-cash-flow margin is 3.3% of revenue over the trailing twelve months, ranking 14 of the 23 construction machinery & heavy transportation equipment companies we cover.
Who are Terex Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Blackrock, Inc. and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Terex Corp buying back stock, and does it pay a dividend?
Terex Corp spent $76M on share repurchases over the trailing twelve months, and its diluted share count still rose 46.6% over the year.
What is Terex Corp's market cap?
On November 2, 2026, Terex Corp's market capitalisation was about $5.6B, with a price-to-earnings ratio of 28.4 and net debt of $2.2B. Market figures come from third-party market data and may be delayed.
Does Terex Corp pay a dividend?
Yes: Terex Corp paid $69M in dividends over the trailing twelve months, a dividend yield of 1.05% and a payout ratio of 34.8%.
How much debt does Terex Corp have?
Terex Corp's debt-to-equity ratio is 52.0%, from its latest balance sheet (66.3% five years earlier). The financial health section below sets out its other solvency checks.
Who are Terex Corp's competitors?
In our Construction Machinery & Heavy Transportation Equipment peer group, the companies closest to Terex Corp are Oshkosh Corp, Wabtec, Allison Transmission Holdings Inc, Hyster-yale, Inc. and Federal Signal Corp. The side-by-side comparison below sets their revenue, margins and growth against Terex Corp's.
Are insiders buying or selling Terex Corp stock?
Over the last 12 months, Terex Corp's directors and officers reported 0 open-market purchases and 6 sales on Form 4. The insider trading page charts every trade.