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what it is
Titan Machinery sells and services farm and construction equipment in the U.S. and Europe.
how it gets paid
Last year Titan Machinery made $2.7B in revenue. Agriculture was the main engine at $1.3B, or 48% of sales.
why growth slowed
Revenue fell 2.0% last year. Revenue was up 177% Vs. last year, but gross margin was 16.6% and losses stayed wide.
what just happened
Titan posted $1.8B in revenue and lost $0.79 per share in the latest quarter.
At a glance
C+ balance sheet — struggling to keep the lights on
15/100 earnings predictability — expect surprises
15.6% return on capital — nothing to write home about
-$1.63 fy2024 eps est
$3B fy2024 rev est
xvary composite: 30/100 — weak
What they do
Titan Machinery sells and services farm and construction equipment in the U.S. and Europe.
Titan's edge is the same thing that annoys customers: a full-service dealer network. You buy the machine, then the parts, then the repair, so leaving means rebuilding every relationship. It has 3,340 employees and 3 segments, which gives the business more reach than a one-lot dealer.
How they make money
$2.7B
annual revenue · their business grew -2.0% last year
Agriculture
$1.3B
2.0%
Construction
$0.7B
2.0%
International
$0.4B
2.0%
Parts & service
$0.3B
0.0%
The products that matter
sells and supports farm equipment
Agriculture equipment
$1.8B · 67% of revenue
It's the core business at roughly $1.8B, and it fell 12.7%. If farm demand stays soft, this is where the pain shows up first.
main swing factor
sells and rents construction equipment
Construction equipment
$540M · 20% of revenue
This $540M segment was flat. In human terms: it isn't fixing the downturn, but it isn't making it worse either.
holding steady
parts sales and service work
Parts & service
$360M · 13% of revenue
This $360M segment grew 5.5% while equipment demand weakened. That's the stabilizer you want in a cyclical dealer, even if it is still too small to carry the full income statement.
best piece of the mix
Key numbers
$2.7B
annual revenue
Revenue is the size of the machine. At $2.7B, Titan is big enough to matter and small enough to feel every weak quarter.
1.6%
operating margin
operating margin → profit after running the business → 1.6% means there is almost no room for mistakes.
$240M
long-term debt
long-term debt → money owed later → $240M is 38% of capital, so leverage is real.
15.6%
return on capital
return on capital → profit from invested money → 15.6% means each $100 invested earns $15.60 before financing changes.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 4 — safer than 20% of stocks
- price stability 25 / 100
- long-term debt $240M (38% of capital)
C+ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for TITN right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Titan posted $1.8B in revenue and lost $0.79 per share in the latest quarter.
Revenue was up 177% Vs. last year, but gross margin was 16.6% and losses stayed wide.
$1.8B
revenue
-$0.79
eps
16.6%
gross margin
the number that mattered
The 16.6% gross margin mattered because it left very little room after expenses.
source: company earnings report, 2026
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What could go wrong
The top threat here is an extended farm equipment downturn. Titan's biggest segment is already shrinking, and the balance sheet is not loose enough to ignore it.
high
Agriculture demand keeps sliding
Agriculture equipment is roughly $1.8B of revenue, or 67% of the mix, and it fell 12.7%. If farmer spending weakens further, Titan does not have another segment large enough to absorb the hit.
Agriculture equipment is roughly $1.8B of revenue, or 67% of the mix, and it fell 12.7%. If farmer spending weakens further, Titan does not have another segment large enough to absorb the hit.
high
Inventory stays stuck
Management wants to cut inventory by $150M in fiscal 2026. If used equipment does not move, that cash stays trapped and the balance sheet stays tight.
Management wants to cut inventory by $150M in fiscal 2026. If used equipment does not move, that cash stays trapped and the balance sheet stays tight.
med
Thin liquidity meets real debt
Titan has $48.8M of cash against $240M of long-term debt. That does not mean a crisis today. It does mean management has less room for a slow cleanup.
Titan has $48.8M of cash against $240M of long-term debt. That does not mean a crisis today. It does mean management has less room for a slow cleanup.
low
Execution noise during a leadership change
The Lead Independent Director retired on March 11, 2026. On its own, that is manageable. In the middle of a downturn and an inventory cleanup, it is one more thing you would rather not add.
The Lead Independent Director retired on March 11, 2026. On its own, that is manageable. In the middle of a downturn and an inventory cleanup, it is one more thing you would rather not add.
Between $240M of long-term debt, $48.8M of cash, and a $150M inventory reduction plan, this is a balance-sheet story as much as a sales story.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
Inventory reduction progress
Titan has reduced inventory by $98M year to date against a $150M fiscal 2026 target. That gap matters more than any slogan about operational discipline.
calendar
Q4 & full-year 2026 results
The earnings call is scheduled for March 19, 2026. You want a clean update on inventory, gross margin, and how much of the ag weakness is still flowing through.
trend
Parts & service holding up
This segment grew 5.5% while agriculture sales fell 12.7%. If that spread narrows the wrong way, the defensive part of the model is weakening too.
risk
Cash versus debt cushion
$48.8M of cash against $240M of long-term debt is manageable only if operating performance stabilizes. If losses deepen, financing flexibility becomes the next headline.
Analyst rankings
earnings predictability
15 / 100
In human-speak, analysts do not trust this earnings line to behave quarter to quarter.
risk rank
4
This sits on the riskier side of the market. You're not buying stability here.
price stability
25 / 100
The stock has not been calm. That fits a small-cap cyclical dealer in a down part of the cycle.
source: institutional data
Institutional activity
institutional ownership data for TITN is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$15
current price
n/a
target midpoint · n/a from current
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