TITAN INTERNATIONAL INC TWI
Titan, is a global wheel, tire, and undercarriage industrial manufacturer and supplier that services customers across the globe. Titan traces its roots to the Electric Wheel Company in Quincy, Illinois, which was founded in 1890. Titan was originally incorporated in 1983 and has increased its global footprint and enhanced product offerings through major acquisitions which include the following:
•2005 - North American farm tire assets of The Goodyear Tire & Rubber Company ("Goodyear")
•2013/2014 - A noncontrolling interest in Voltyre-Prom, a leading producer of agricultural and industrial tires, which owns and operates an over two million square foot manufacturing facility located in Volgograd, Russia
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.83B | $1.85B | $1.82B | $2.17B | $1.78B | $1.26B | $1.45B | $1.60B | $1.47B | $1.27B |
| Cost of revenue | $1.57B | $1.59B | $1.52B | $1.81B | $1.54B | $1.13B | $1.32B | $1.40B | $1.30B | $1.12B |
| Gross profit | $253.5M | $257.8M | $305.8M | $360.7M | $237.5M | $114.3M | $129.0M | $198.3M | $160.3M | $141.4M |
| R&D | $18.3M | $16.5M | $12.5M | $10.4M | $10.1M | $9.0M | $9.9M | $11.1M | $10.3M | $10.0M |
| SG&A | $203.3M | $191.8M | $134.9M | $132.8M | $131.8M | $130.9M | $137.7M | $134.8M | $150.7M | $145.0M |
| Operating income | $20.8M | $33.2M | $148.7M | $205.8M | $85.2M | -$35.4M | -$28.4M | $42.2M | -$11.2M | -$22.4M |
| Interest expense | $38.7M | $36.4M | $29.2M | $32.1M | $32.2M | $30.6M | $32.0M | $28.3M | $30.2M | $32.5M |
| Pre-tax income | -$11.3M | $8.3M | $109.7M | $202.4M | $51.0M | -$58.1M | -$48.0M | $19.8M | -$52.9M | -$36.5M |
| Income tax | $49.9M | $11.9M | $26.0M | $23.2M | $1.1M | $6.9M | $3.5M | $6.8M | $11.2M | $3.3M |
| Net income | -$61.2M | -$3.6M | $83.7M | $179.2M | $49.9M | -$60.4M | -$48.4M | $16.1M | -$60.0M | -$37.6M |
| EPS, basic | -1.00 | -0.08 | 1.26 | 2.80 | 0.80 | -0.99 | -0.84 | 0.06 | -1.12 | -0.87 |
| EPS, diluted | -1.00 | -0.08 | 1.25 | 2.77 | 0.79 | -0.99 | -0.84 | 0.06 | -1.12 | -0.87 |
| Shares, diluted (wtd. avg.) | $63.7M | $68.7M | $63.0M | $63.7M | $62.7M | $60.8M | $60.1M | $59.9M | $59.3M | $53.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $202.9M | $196.0M | $220.3M | — | $98.1M | $117.4M | $66.8M | $81.7M | $143.6M | $147.8M |
| Receivables | $238.9M | $211.7M | $219.1M | $266.8M | $255.2M | $193.0M | $185.2M | $241.8M | $226.7M | $179.4M |
| Inventory | $470.5M | $437.2M | $365.2M | $397.2M | $392.6M | $293.7M | $333.4M | $395.7M | $339.8M | $272.2M |
| Total current assets | $986.0M | $912.0M | $876.8M | $909.6M | $813.3M | $658.6M | $651.5M | $779.5M | $783.2M | $729.2M |
| Property, plant and equipment | $448.9M | $421.2M | $321.7M | $296.6M | $301.1M | $319.9M | $367.6M | $384.9M | $421.2M | $437.2M |
| Goodwill | $29.6M | $29.6M | $0 | — | — | — | — | — | — | — |
| Other intangibles | $10.9M | $12.0M | $1.4M | $1.6M | $1.5M | $2.0M | $9.8M | $11.6M | $15.3M | $16.4M |
| Total assets | $1.67B | $1.58B | $1.29B | $1.28B | $1.18B | $1.03B | $1.11B | $1.25B | $1.29B | $1.27B |
| Accounts payable | $251.7M | $219.6M | $201.2M | $263.4M | $278.1M | $167.2M | $158.6M | $212.1M | $195.5M | $148.3M |
| Short-term debt | — | — | — | — | — | — | — | $51.9M | $43.7M | $97.4M |
| Total current liabilities | $428.2M | $387.4M | $362.5M | $446.2M | $450.8M | $329.7M | $327.2M | $375.1M | $372.9M | $366.1M |
| Long-term debt | $587.9M | $568.3M | $426.1M | $445.6M | $485.0M | $464.7M | $499.7M | $461.5M | $407.2M | $408.8M |
| Total liabilities | $1.15B | $1.09B | $821.8M | $901.5M | $955.5M | $830.6M | $850.3M | $861.3M | $866.8M | $868.2M |
| Retained earnings | $100.6M | $164.1M | $169.6M | $90.9M | -$85.4M | -$135.0M | -$74.3M | -$29.0M | -$44.0M | $17.2M |
| Total equity | $514.4M | $496.1M | $467.4M | $383.1M | $227.2M | $176.3M | $239.0M | $270.1M | $310.1M | $292.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $30.0M | $141.5M | $179.3M | $160.7M | $10.7M | $57.2M | $45.4M | -$36.2M | -$1.3M | $43.5M |
| Depreciation and amortisation | $67.1M | $60.7M | $42.4M | $42.7M | $48.0M | $54.7M | $54.4M | $57.6M | $58.4M | $59.8M |
| Stock-based compensation | $3.3M | $5.4M | $5.2M | $4.3M | $3.4M | $2.5M | $1.4M | $1.1M | $1.5M | $2.0M |
| Capital expenditure | $54.6M | $65.6M | $60.8M | $47.0M | $38.8M | $21.7M | $36.4M | $39.0M | $32.6M | $41.9M |
| Investing cash flow | -$59.6M | -$201.6M | -$56.9M | -$36.8M | -$37.6M | $33.2M | -$92.6M | -$36.9M | $18.4M | -$89.7M |
| Financing cash flow | $17.4M | $64.6M | -$56.0M | -$61.3M | $13.9M | -$38.6M | $32.1M | $17.5M | -$24.1M | -$6.4M |
| Dividends paid | — | — | — | $0 | $0 | $603.0K | $1.2M | $1.2M | $1.2M | $1.1M |
| Buybacks | — | $16.4M | $32.6M | $25.0M | $0 | $0 | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000899751-26-000033.
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| ASTL | Algoma Steel Group Inc. | — | — | — |
| SIM | GRUPO SIMEC, S.A.B. de C.V. | — | — | — |