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Terex’s multi-year history shows equipment revenue moving with demand, while operating margins have varied more sharply, reflecting operating leverage. It has generally generated positive free cash flow with capital spending modest relative to revenue, while acquisitions have also increased its debt and share base.
The latest quarter confirms that the REV acquisition materially expanded reported scale, while pro forma sales growth shows activity also increased across the combined business. This is a meaningful change in size and mix, but not yet evidence that Terex’s cyclical, operating-leverage model has changed.
Whether operating margins improve as integration and acquired-business costs are absorbed, without weakening cash conversion.
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| (175.5m) | 128.7m | 113.7m | 54.4m | (10.6m) | 220.9m | 300m | 518m | 335m | 221m | |
| 96.7m | 66.5m | 59.7m | 49.6m | 49.7m | 50.2m | 47.2m | 56.4m | 82m | 158m | |
| (137.6m) | 37.6m | (9.1m) | (17.6m) | 5.6m | 1.2m | — | (38.1m) | (10m) | (3m) | |
| 37.8m | 38.5m | 36.7m | 43.1m | 23.8m | 33.1m | 30m | 44m | 30m | 32m | |
| 335.1m | 5.2m | 140.2m | 164.4m | 68.7m | 72.7m | 52.3m | 53m | 55m | (2m) | |
| 96.2m | 59.5m | 57.5m | 70.9m | 58.1m | 51.3m | 37.4m | 39m | 53m | 156m | |
| 258.4m | (85m) | (210.3m) | (77.4m) | 112m | (51.6m) | (138.3m) | (130m) | (136m) | 66m | |
| 377.1m | 153m | 94.2m | 173.4m | 225.4m | 293.4m | 261.2m | 459.3m | 326m | 440m | |
| (73m) | (43.5m) | (103.8m) | (108.9m) | (64.5m) | (59.7m) | (109.6m) | (127.2m) | (137m) | (118m) | |
| 61.2m | 1.6B | 17.9m | 212.7m | 26m | (42.5m) | (44.5m) | 12.8m | (2B) | 150m | |
| (11.8m) | 1.5B | (85.9m) | 103.8m | (38.5m) | (102.2m) | (154.1m) | (114.4m) | (2.1B) | 32m | |
| (82.7m) | (924.9m) | (427.5m) | (7.4m) | (56m) | (3m) | (101.3m) | (62.8m) | (49m) | (56m) | |
| (188.6m) | (619.8m) | 231.7m | (43.9m) | (6m) | (520.3m) | 96.5m | (158.7m) | 2B | (7m) | |
| (30m) | (29.5m) | (30m) | (31.4m) | (8.4m) | (33.5m) | (35.6m) | (43.2m) | (46m) | (45m) | |
| (8.9m) | (32.3m) | (19.1m) | (21m) | (12.4m) | (23.3m) | (14.5m) | (23.1m) | (63m) | (15m) | |
| (310.2m) | (1.6B) | (244.9m) | (103.7m) | (82.8m) | (580.1m) | (54.9m) | (287.8m) | 1.8B | (123m) | |
| (19.7m) | 46.1m | (21.4m) | (5.5m) | 25.9m | (14.3m) | (15m) | 9.5m | (19m) | 35m | |
| 35.4m | 128.2m | (258m) | 168m | 130m | (403.2m) | 37.2m | 66.6m | 17m | 384m | |
| 304.1m | 109.5m | (9.6m) | 64.5m | 160.9m | 233.7m | 151.6m | 332.1m | 189m | 322m |
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Stock intrinsic value is the real worth of a company's stock, based on its financial health and performance.
Instead of looking at the stock's current market price, which can change due to people's opinions and emotions, intrinsic value helps us understand if a stock is truly a good deal or not.
By focusing on the company's actual financial strength, like its earnings and debts, we can make better decisions about which stocks to buy and when.
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