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Makes aerial work platforms (Genie), mobile cranes and materials-processing equipment for construction and industrial customers.
Makes aerial work platforms (Genie), mobile cranes and materials-processing equipment for construction and industrial customers.
Sells new machines largely to rental companies, whose purchases follow fleet-replacement cycles, and to contractors and dealers, with parts and service after the sale. Genie, long owned by Terex, supplies the biggest product line, so sales track what rental fleets decide to buy.
Moat: narrow (brand, installed base). Genie is well established with rental fleets, but the market has several scaled competitors.
Headquarters: Norwalk, Connecticut, USA · Founded: 1933 · Employees: 10,700
Size Terex (TEX) is a United States Industrials company (Trucks/Construction/Farm Machinery) with a market value of $6.18B, the 1042nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $54.96 on 6 Nov 2026.
Performance Over six months the shares fell 13.6%, against -4.7% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 40.1% over the last twelve months (peer median +6.9%); the operating margin is 6.8% (peer median 8.8%).
Valuation It trades at 9.9× forward earnings against a peer median of 18.1× (2nd cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is +0 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.6 points below its cost of capital (10.2% WACC).
Backlog Backlog (remaining performance obligations) was $3.53B at 30 Sep 2026, up 9,443% on a year earlier — 0.5 years of trailing revenue. Backlog detail →
Credit Terex has 1 bond outstanding ($750M), rated BB by the agencies and trading like BB+ at a weighted spread of 195 bp.
Short interest Short interest is 7.0% of the free float (15 Oct 2026).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $7.49B | $5.42B | $5.13B | $5.15B | $4.42B |
| Revenue growth | — | +6% | 0% | +17% | — |
| Gross profit | $1.19B | $1.05B | $1.07B | $1.18B | $882M |
| EBITDA | $796M | $633M | $609M | $699M | $479M |
| Net income | $194M | $221M | $335M | $517M | $300M |
| Free cash flow | $419M | $322M | $189M | $332M | $152M |
| Capital expenditure | $124M | $118M | $137M | $127M | $110M |
| Total debt | $2.58B | $2.71B | $2.72B | $744M | $865M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Terex TEX | $6.18B | -14% | +40% | 7% | 9.9× | 12.1% |
| Oshkosh OSK | $8.19B | -3% | +4% | 7% | 11.2× | 4.7% |
| Manitowoc MTW | $808M | -3% | +9% | 3% | 16.2× | 11.2% |
| TADANO 6395.T | $1.02B | -8% | +21% | 9% | 10.8× | n/a |
| Zoomlion Heavy Industry Science & Technology 000157.SZ | $7.61B | -22% | +14% | 7% | 11.2× | 2.8% |
| Sany Heavy Industry 600031.SS | $24.6B | -4% | +18% | 11% | 17.4× | -2.6% |
| XCMG Construction Machinery 000425.SZ | $12.6B | -28% | +8% | 8% | 11.0× | -3.2% |
| Metso METSO.HE | $15.8B | +14% | +8% | 15% | 23.6× | 15.3% |
| Sandvik SAND.ST | $45.8B | -1% | +14% | 20% | 21.0× | 13.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TEX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.0% | -6.6% | 5th highest of 21 |
| 6-month return | -13.6% | -4.7% | 8th lowest of 21 |
| Distance from 52-week high | -26.4% | -29.1% | 9th highest of 21 |
| Revenue growth (TTM) | +40.1% | +6.9% | highest of 21 |
| Operating margin | 6.8% | 8.8% | 10th lowest of 21 |
| Forward P/E | 9.9× | 18.1× | 2nd cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 12.1% | 3.1% | 4th most demanding of 19 |
| Growth delivered (Del g) | +12.0% | +10.3% | 8th highest of 19 |
| Hurdle (Req g minus delivered) | +0.1 pp | -6.5 pp | 6th most demanding of 19 |
| ROIC minus cost of capital | -4.6 pp | +7.0 pp | 2nd lowest of 19 |
| EV / EBITDA | 10.5× | 11.8× | 7th cheapest of 17 |
| Net debt / EBITDA | 2.7× | 1.1× | 2nd most indebted of 18 |
| Bond spread | 195 bp | 112 bp | widest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Terex TEX | United States | $6.18B | -14% | +40% | 7% | 9.9× | 12.1% | +12.0% |
| Hitachi Construction Machinery 6305.T | Japan | $6.36B | -12% | +7% | 10% | 11.2× | 3.9% | +11.6% |
| Babcock International BAB.L | United Kingdom | $6.60B | 0% | +7% | 6% | 15.4× | 13.2% | +5.5% |
| Hyundai Rotem 064350.KS | South Korea | $5.75B | -73% | +12% | 15% | 9.7× | -4.0% | +16.0% |
| TKMS AG & Co. KGaA TKMS.DE | Germany | $5.57B | +8% | +15% | 5% | 39.8× | n/a | n/a |
| Alstom ALO.PA | France | $5.56B | -40% | +4% | 4% | n/a | 2.7% | +16.9% |
| Kongsberg Maritime KMAR.OL | Norway | $5.43B | -1% | +6% | 13% | 21.8× | 0.9% | +6.3% |
| Doosan 000150.KS | South Korea | $7.10B | -60% | +11% | 6% | 16.1× | 15.0% | +11.6% |
| Accelleron Industries ACLN.SW | Switzerland | $7.29B | -25% | +13% | 25% | 25.1× | 3.5% | +12.1% |
| Konecranes KCR.HE | Finland | $7.47B | +5% | -1% | 13% | 15.9× | 9.1% | +5.7% |
| Gaztransport & Technigaz GTT.PA | France | $7.50B | -13% | +9% | 64% | 16.1× | -3.1% | +15.2% |
| AGCO AGCO | United States | $7.61B | -6% | +1% | 6% | 17.1× | 10.5% | +2.0% |
| Fincantieri FCT.MI | Italy | $4.98B | +3% | -1% | 0% | 21.5× | 1.2% | +9.1% |
| Mazagon Dock Shipbuilders MAZDOCK.NS | India | $7.87B | -31% | +8% | 15% | 30.5× | n/a | n/a |
| Seatrium 5E2.SI | Singapore | $4.77B | -19% | +11% | 4% | 13.0× | 4.0% | +50.0% |
| Weir WEIR.L | United Kingdom | $8.18B | -3% | +6% | 18% | 18.1× | 19.3% | +5.5% |
| Zhejiang Dingli Machinery 603338.SS | China | $4.57B | +9% | +29% | 22% | 14.8× | 1.6% | +23.7% |
| CSSC Offshore & Marine Engineering (Group) 600685.SS | China | $4.16B | -19% | +5% | 1% | 23.9× | 1.1% | +12.1% |
| Bucher Industries BUCN.SW | Switzerland | $3.93B | +4% | -4% | 7% | 19.1× | -2.9% | +1.2% |
| Toro TTC | United States | $9.92B | +10% | +5% | 11% | 21.2× | 5.6% | +6.0% |
| Stadler Rail SRAIL.SW | Switzerland | $3.84B | +38% | +26% | 5% | 19.8× | 0.2% | +3.6% |
Terex has 1 bond outstanding with $750M face value. The agencies rate it BB; its bonds trade like BB+. Weighted yield 6.61%, a spread of 195 bp over government bonds.
Terex reported $3.53B of remaining performance obligations at 30 Sep 2026, up 9,443% from a year earlier and up 3% from the previous quarter. That is 0.5 years of trailing revenue already under contract. Book-to-bill last quarter: 1.05.