CNH Industrial N.V.
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Range $12 – $18
Price Chart
About the company
CNH Industrial N. V. operates as a multinational producer of heavy-duty industrial machinery, specializing in a diverse portfolio that includes both agricultural and construction equipment.
- CEO
- Gerrit Andreas Marx
- IPO
- 1996
- Employees
- 34,197
- HQ
- Basildon, EX, GB
AI snapshot
Six angles, distilled from the data.
CNH remains in a constructive multi-month recovery, trading above its 50-day and 200-day moving averages after a long base. The stock is still below its 52-week high of 14.46, so the setup is improved but not fully repaired.
Street sentiment is positive, with a Buy consensus and an average target of 14.56, above the last close. Recent changes lean constructive: Evercore ISI upgraded to Outperform, while several firms lifted targets even as Goldman Sachs turned more cautious earlier in the year.
The earnings profile is mixed but improving. CNH has beaten EPS in 3 of the last 7 quarters, and the next-year EPS estimate points to 0.6852 from 0.25 TTM, suggesting recovery expectations. Shareholders should watch whether margin discipline holds and whether the company can extend the recent beat pattern.
No discretionary insider buying or selling stands out. The recent activity is dominated by award grants to directors and officers, which is compensation-related rather than a trading signal. That leaves insider sentiment neutral.
Profitability is modest but positive, with a 5.54% operating margin and 1.71% net margin. Growth is steady rather than strong, with revenue up 2% year over year and EPS down 35.3% year over year, while free cash flow of $3.081 billion and a 14.91% FCF yield support the story.
CNH trades as a cyclical machinery name with better cash generation than its earnings quality suggests, but leverage remains a constraint with $27.034 billion of debt and negative net cash. Versus the sector, the valuation still looks reasonable at 31.34x earnings given the recovery setup and analyst target upside.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $16.45B
- P/E
- 53.36
- Fwd P/E
- 29.73
- PEG
- -0.86
- P/S
- 0.90
- P/B
- 2.12
- EV/EBITDA
- 15.84
- Div Yield
- 0.75%
- Gross Margin
- 30.61%
- Op Margin
- 13.65%
- Net Margin
- 1.71%
- ROE
- 4.01%
- ROIC
- 6.20%
Latest fiscal year · YoY change
- Revenue
- $18.09B-8.8%
- Gross Profit
- $5.71B-12.0%
- Op Income
- $2.78B
- Net Income
- $510.00M-59.1%
- EPS
- $0.41-58.6%
- OCF Growth
- +29.0%
- FCF Growth
- +155.1%
- 52W High
- $14.46
- 52W Low
- $9.00
- 50D MA
- $12.15
- 200D MA
- $11.14
- Beta
- 1.20
- RSI (14)
- 54
- Avg Volume
- 17.75M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
CNH delivered a solid Q2 with modest revenue growth, pressured agriculture margins, and improved full-year guidance as tariffs ease and operational initiatives gain traction.· August 3, 2026
- Consolidated revenue was $4.8 billion, up 2% year over year, with adjusted EPS of $0.13 and adjusted net income of $161 million.
- Agriculture sales were $3.3 billion, up 1%, but Ag gross margin fell to 19.7% from 21.8% and Ag adjusted EBIT margin declined to 5.2% from 8.1%.
- Construction sales rose 12% to $866 million, though margin was pressured by tariffs; adjusted EBIT margin was 1.7% versus 4.5% a year ago.
- Management sees dealer inventories continuing to normalize and expects further destocking by year-end, while also flagging weak farmer profitability and cautious demand.
- Full-year 2026 guidance was raised/narrowed: Industrial net sales flat to up 2%, adjusted EBIT margin 3.2% to 3.8%, industrial free cash flow $200 million to $400 million, and adjusted EPS $0.41 to $0.46.
Q2 consolidated revenue was $4.8 billion, up 2% year over year, including about 2% positive currency impact. Adjusted EPS was $0.13 and adjusted net income was $161 million. Agriculture net sales were about $3.3 billion, up 1%, with gross margin at 19.7% versus 21.8% a year ago and adjusted EBIT margin at 5.2% versus 8.1%. Construction net sales were $866 million, up 12%, with gross margin at 11.9% versus 15.7% and adjusted EBIT margin at 1.7% versus 4.5%. Financial Services net income was $71 million, retail originations were $2.5 billion, and the managed portfolio ended at $28 billion. Free cash flow from industrial activities was $150 million. For 2026, CNH now expects Agriculture net sales to be about flat year over year and Ag EBIT margin to be 5% to 5.5%; Construction net sales to rise 5% to 10% and EBIT margin to be 1.8% to 2.3%; Industrial net sales flat to up 2%; Industrial adjusted EBIT margin 3.2% to 3.8%; Industrial free cash flow $200 million to $400 million; and adjusted EPS $0.41 to $0.46. Management also said Q3 Ag net sales and EBIT margin should be about flat year over year, while Q3 Construction sales should be up in the low to mid-teens and EBIT margin in a low to mid-single-digit range.
Gerrit Marx said CNH is still working through a difficult point in the agriculture cycle, but emphasized steady progress on quality, sourcing, manufacturing efficiency, and precision technology. He described the recovery as still incomplete, with dealer inventories and used equipment values normalizing faster than farm profitability, and said the base case remains an L-shaped recovery with 2027 retail demand broadly flat. He was constructive about dealer consolidation, AI-enabled solutions, and the company’s long-term strategy, while also noting CNH is pursuing possible construction partnerships to improve scale and competitiveness.
Jim Nickolas highlighted that Q2 Ag gross margin was 19.7% and Construction gross margin was 11.9%, both down from last year, primarily because of tariff pressure and mix. He said Ag adjusted EBIT margin was 5.2%, Construction adjusted EBIT margin was 1.7%, and industrial free cash flow was $150 million in the quarter. He also quantified the tariff outlook: expected 2026 tariff cost impact is now about 170 basis points in Agriculture and about 470 basis points in Construction, while noting that price/cost was positive in Q2 and expected to remain positive for the full year. On capital allocation, he cited the annual dividend of $126 million and $36 million of share repurchases at an average price of about $10.31 per share, and said corporate expenses are typically $55 million to $60 million per quarter.
Analysts focused on the implied step-up in Ag margins from Q3 to Q4 and what that means for 2027; management said the improvement is driven mainly by higher volumes, lower tariffs, pricing, and operational improvements, but cautioned that Q4 does not imply a double-digit EBIT margin. They also asked why full-year Ag guidance improved despite lower retail sales assumptions, and management pointed to modest outperformance in the first half, the one-time Brazil VAT-like tax credit, and better tariff and operational assumptions. Other questions covered dealer consolidation, market share, South America and EMEA weakness, and Construction’s 2027 outlook; management said dealer consolidation has not been a drag, market share gains are showing across regions, EMEA softened because of drought and higher input costs, and Construction should improve next year as demand stays constructive and tariffs stabilize.
The positive case from the call is that CNH is seeing the building blocks of a cycle recovery normalize: dealer inventories, used equipment levels, fleet age, and new-vs-used pricing. Management also said the company is gaining market share in Ag, improving execution in quality and sourcing, and expects price/cost to remain positive. On top of that, easing Section 232 tariff rates and continued operational improvements support higher 2026 guidance and better visibility into 2027.
The main risk remains weak farmer economics, especially in South America and parts of EMEA, where drought, high input costs, and pressured commodity prices are reducing demand. Management also said the recovery is still not broad-based, that 2027 retail demand is expected to be broadly flat, and that Q4 Ag should not be assumed to represent a double-digit margin run rate. Tariffs are still a net drag on margins, and Financial Services remains a watch point because of elevated delinquency and economic stress in South America.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 70.0%
- Shares Outstanding
- 1.24B
- Float Shares
- 867.70M
Buy/sell ratio 1.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for CNH, newest first.
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Held by 356 ETFs
Biggest fund positions in CNH by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| May 26, 26 | Nasi Alessandro | other | 5,634 |
| May 26, 26 | Buffett Howard W. | other | 5,634 |
| May 26, 26 | Simonelli Lorenzo | other | 5,634 |
| May 26, 26 | Sorensen Vagn O | other | 5,634 |
| May 26, 26 | Bastoni Elizabeth A. | other | 5,634 |
| May 26, 26 | Palmer Richard Keith | other | 5,634 |
| May 26, 26 | Linehan Karen | other | 5,634 |
| May 26, 26 | Schroeder Jay | other | 23,472 |
| May 26, 26 | Chishti Humayun | other | 15,469 |
| May 26, 26 | Heywood Suzanne | other | 41,080 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our CNH coverage
Recent articles, reports, and earnings notes.

CNH Industrial (CNH): Recovery Potential, But Leverage Cautions
CNH Industrial has credible long-term assets and improving end-market conditions, but near-term earnings remain weak and leverage is still a concern. The stock looks like a Hold as investors wait for margin recovery to show up in reported results.

CNH Industrial N.V. (CNH) rises on upgrade and alliance
CNH Industrial N.V. (CNH) rises sharply after a Baird upgrade and a new Bourgault seeding alliance boosted sentiment. Stronger volume, a recent earnings beat, and improving recovery expectations helped drive the move, though farm-equipment weakness and a rich valuation still matter for investors.

Farm Equipment Stocks That Pass Quality Tests: 3 August 2026 Picks
Three farm equipment stocks are ranked in countdown order, spanning rural retail, global machinery, precision agriculture, and the aftermarket.
Want a deeper read on CNH?
Generate a full analyst-grade report — bull/bear case, price targets, valuation depth, and a complete financial breakdown.
Pricing of CNH Industrial Capital Canada Ltd. Cdn$200 million notes due 2028 and Cdn$350 million notes due 2030
globenewswire.com · Sep 21
These 3 Stocks Under $20 Have Wall Street Looking Past the Share Price
marketbeat.com · Sep 20
CNH announces emissions-system software updates to help customers maximize uptime
globenewswire.com · Sep 16
Why Is CNH (CNH) Up 11.4% Since Last Earnings Report?
zacks.com · Sep 2
CNH Industrial (NYSE:CNH) Trading 5% Higher Following Analyst Upgrade
defenseworld.net · Sep 2
CNH and Bourgault announce strategic alliance to expand global seeding portfolio
globenewswire.com · Aug 31
Here's Why You Should Retain CNH Stock in Your Portfolio
zacks.com · Aug 27
CNH Industrial N.V. $CNH Shares Sold by Bank of America Corp DE
defenseworld.net · Aug 13
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed October 1, 2026 · Live quote · Not investment advice