Titan International Inc TWI

IndustrialsAutomobiles & Auto PartsUnited States of America

Last close 4.97 USD on Nov 2, 2026, −36.5% year to date

Quant rating

Quant rating D Rank 439 of 486 in Industrials

Growth B 135 of 486
Valuation B 164 of 486
Quality D 435 of 486
Revisions D 418 of 486
Momentum D 468 of 486

Wall Street consensus Buy (2.00)Average target 9.25 USD +86.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 321M
Enterprise value: 746M
52-week range: 4.59 – 11.68
3-year range: 4.59 – 15.12
Dividend yield: –
Beta (5 years): 1.53
Shares outstanding: 64.6M
Next earnings: Feb 24, 2027

About the company

Titan International, Inc. is a global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. The Company's segments include agricultural, earthmoving/construction and consumer. Its agricultural wheels, tires, and components are manufactured for use on various agricultural equipment. The earthmoving/construction segment manufactures wheels, tires, and undercarriage systems and components for various types of OTR earthmoving, mining, military, construction, and forestry equipment, including skid steers, aerial lifts, cranes, and others. The consumer segment manufactures bias truck tires in Latin America and light truck tires in Russia. It also offers select products for ATVs, side-by-sides, rock climbers, turf, and lawn and garden. This segment also includes custom rubber stock mixing sales to a variety of OEMs in tangential industries. It manufactures and sells certain tires under the Goodyear Farm Tire, Titan Tire, Carlstar and Voltyre-Prom Tire brands.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	1,828	1,846	1,822	2,169	1,780	–
Revenue growth	−0.9%	1.3%	−16.0%	21.9%	41.4%	7.7%
EPS (basic, normalized)	−0.25	0.26	1.59	2.20	0.85	–
EPS growth	–	−83.6%	−27.7%	158.8%	–	–
Gross margin	13.3%	13.4%	16.3%	16.1%	12.8%	14.4%
Net margin	−3.5%	−0.3%	4.3%	8.1%	2.8%	2.3%
ROE	−12.6%	−1.2%	18.6%	57.8%	24.3%	17.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	173
Current ratio	2.11x
Long-term debt (mil)	538
Net debt (mil)	425
Total equity (mil)	456
Net debt / equity	0.93x
Net debt / EBITDA	4.19x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	1,828	−0.9%	0.4x	102	−10.7%	7.3x	−0.25	−196.2%	−19.9x
2026	1,864	+1.9%	0.4x	110	+8.7%	6.8x	−0.17	+31.5%	−29.0x
2027	1,909	+2.4%	0.4x	128	+16.2%	5.8x	0.29	+269.3%	17.1x
2028	2,014	+5.5%	0.4x	134	+4.9%	5.5x	–	–	–

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	1,864	0.0%	−0.3%	−1.2%	−0.17	−42.7%	−34.3%	−48.9%
2027	1,909	−1.7%	−1.7%	−3.8%	0.29	0.0%	0.0%	−18.1%
2028	2,014	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	482	532	448	384	491	461	466	410	505	485
Sales mean (mil)	537	547	472	394	464	478	463	404	497	480
Surprise	−10.3%	−2.8%	−5.0%	−2.7%	+5.7%	−3.6%	+0.8%	+1.7%	+1.6%	+1.0%
EPS reported	0.29	0.10	−0.19	0.09	0.01	−0.02	0.04	−0.27	0.00	0.10
EPS mean	0.45	0.24	0.01	−0.13	0.04	0.03	−0.01	−0.27	0.04	−0.05
Surprise	−35.6%	−59.2%	−1,366.7%	−167.0%	−76.4%	−158.3%	−366.7%	−0.9%	−100.0%	−310.5%

Peer comparison Automobiles & Auto Parts

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
TWI Titan International Inc	321M	4.19x	−3.5%	0.64x	−29.0x	17.1x	6.8x	5.8x
5108 BRIDGESTONE CORPORATION	33.1B	0.18x	7.2%	1.33x	13.8x	12.2x	6.1x	5.7x
BLKI Balkrishna Industries Ltd	4.3B	–	11.5%	3.74x	26.0x	21.2x	15.5x	12.7x
MICP Compagnie Generale des Etablissements Michelin SCA	25.2B	–	6.4%	1.26x	12.6x	10.7x	5.8x	5.4x
PIRC Pirelli & C. S.p.A.	8.1B	–	7.3%	1.14x	13.1x	12.2x	6.2x	6.0x
ATMU Atmus Filtration Technologies Inc.	3.9B	2.09x	11.8%	8.55x	16.1x	14.5x	11.4x	10.6x
Mean		2.15x	6.8%	2.78x	8.8x	14.7x	8.6x	7.7x
Median		2.09x	7.3%	1.30x	13.4x	13.4x	6.5x	5.9x

Technical analysis

1M−28.9%
3M−31.2%
1Y−34.2%
3Y−57.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Titan International Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	1,828	1,846	1,822	2,169	1,780	1,259
Cost of revenue	1,586	1,598	1,526	1,820	1,553	1,138
Gross profit	242	248	296	349	227	121
Selling, general & administrative expenses	203	192	135	133	132	125
Research & development	18.3	16.5	12.5	10.4	10.1	9.0
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	2.9	3.8	−0.8	−22.5	14.3	14.6
Other operating expenses	0	0	0	0	0	0
Operating income	17.9	35.6	150	228	70.9	−27.5
Net interest income (expense)	−31.8	−30.9	−40.4	−28.0	−19.4	−40.9
Gain (loss) on sale of assets	0.1	0.8	0.2	0.2	0.3	5.3
Other non-operating income (expense)	2.6	2.7	0.4	1.9	−0.7	4.9
Net income before taxes	−11.3	8.3	110	202	51.0	−58.1
Provision for taxes	49.9	11.9	26.0	23.2	1.1	6.9
Minority interest	−2.3	−2.0	−4.9	−2.9	−0.3	4.7
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−63.5	−5.6	78.8	176	49.6	−60.4
Extraordinary items	–	–	–	–	–	–
Net income	−63.5	−5.6	78.8	176	49.6	−60.4
EBIT, normalized	20.8	50.9	149	206	85.2	−12.9
EBITDA, normalized	87.9	112	191	249	133	41.8
Basic EPS, normalized	−0.25	0.26	1.59	2.20	0.85	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Titan International Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	203	196	220	160	98.1	117
Receivables	250	222	236	306	280	205
Total inventory	471	437	365	397	393	294
Prepaid expenses	51.9	48.1	47.4	44.2	38.3	39.8
Other current assets	10.8	9.0	8.4	2.7	4.6	3.1
Total current assets	986	912	877	910	813	659
Property, plant & equipment	568	538	334	306	322	344
Goodwill	29.6	29.6	0	–	–	–
Intangibles	10.9	12.0	1.4	1.6	1.5	2.0
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	78.1	93.1	77.4	67.9	45.8	27.1
Total assets	1,673	1,585	1,289	1,285	1,183	1,032
Liabilities
Accounts payable	252	220	201	263	278	167
Payable/accrued	–	–	–	–	–	–
Accrued expenses	85.5	77.5	71.3	88.9	91.6	81.4
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	22.7	13.5	18.0	33.4	34.9	31.7
Other current liabilities	68.3	76.8	72.0	60.5	46.2	49.4
Total current liabilities	428	387	363	446	451	330
Long-term debt	567	554	410	418	456	436
Minority interest	7.2	−2.4	0.4	1.9	−2.1	22.0
Other liabilities	156	149	48.8	37.1	48.4	65.3
Total liabilities	1,158	1,089	822	903	953	853
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0	0	0	0	0	0
Additional paid-in capital	739	740	569	566	562	533
Retained earnings (accumulated deficit)	101	164	170	90.9	−85.4	−135
Treasury stock	−116	−122	−52.6	−23.4	−1.1	−1.2
Other equity	−209	−286	−219	−252	−246	−217
Total equity	514	496	467	381	229	179
Total liabilities & shareholders' equity	1,673	1,585	1,289	1,285	1,183	1,032

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Titan International Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−61.2	−3.6	83.7	179	49.9	−65.1
Depreciation, depletion & amortization	67.1	60.7	42.4	42.7	48.0	54.7
Deferred taxes	31.0	−6.4	−2.1	−23.4	−14.2	−3.0
Non-cash items	14.9	2.3	23.0	−12.8	11.2	24.2
Changes in working capital	−21.8	88.5	32.3	−25.1	−84.2	46.5
Cash from operations	30.0	141	179	161	10.7	57.2
Investing activities
Capital expenditures	−54.6	−65.6	−60.8	−47.0	−38.8	−21.7
Other investing cash flows	−5.0	−136	3.9	10.2	1.2	54.9
Cash from investing	−59.6	−202	−56.9	−36.8	−37.6	33.2
Financing activities
Financing cash flow items	0	−4.3	−2.5	−0.5	−1.0	−3.2
Cash dividends paid	–	–	–	0	0	−0.6
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	17.4	68.9	−53.5	−60.8	15.0	−34.8
Cash from financing	17.4	64.6	−56.0	−61.3	13.9	−38.6
Foreign exchange effects	19.1	−28.7	−5.7	−1.1	−6.4	−1.3
Net change in cash	6.9	−24.3	60.7	61.5	−19.3	50.6
Free cash flow	−24.6	75.9	119	114	−28.1	35.5

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.