Reading the tape
NYSE: CNH
CNH Industrial N.V.
Industrials · Agricultural - Machinery
Market Cap
$13.59B
52w High
$14.27
52w Low
$9.00
P/E
35.24
Volume
18.66M
Outstanding Shares
1.24B
Price vs Fundamentals
Why The Stock Is Moving
Likely fundamental deteriorationModerate confidence
1Y Price: -13.08%Revenue (TTM): -4.01%FCF (TTM): 3.6%P/FCF: 29th pct
What changed
The stock fell 13.08% over the last year. Revenue declined 4.01% over the trailing twelve months. Operating margin moved from 18.91% to 14.65%. Free cash flow grew 3.6% over the trailing twelve months.
What the market seems to be pricing
The market is reacting to weaker business momentum more than just compressing the valuation multiple. Even if the shares already screen cheap on P/FCF, investors are still discounting lower future earnings power.
What would invalidate this read
Operating margin stands at 14.65%. Revenue declined 4.01% — this read reverses if that trend stabilizes. If margins and cash flow stabilize while the stock stays depressed, the gap shifts from fundamental damage toward pure multiple compression.
Company profile
CNH Industrial is a global manufacturer of heavy machinery, with a range of products including agricultural and construction equipment.
CEOGerrit Andreas Marx
SectorIndustrials
IndustryAgricultural - Machinery
Employees35,850
IPO dateNov 1, 1996
Valuation
Forward P/E—
EV/EBITDA10.33
Enterprise value$35.31B
Stock splits
Sep 30, 2013↑ Forward
Every 250 shares became 957
Apr 1, 2003↓ Reverse
Every 5 shares became 1
Profitability & growth
Revenue growth-0.1%
Gross margin31.38%▼3.84%vs FY2024
Operating margin14.65%▼20.58%vs FY2024
ROE6.6%▼59.49%vs FY2024
Analyst consensus
RatingBuy
Target price$13.25▲20.89%
9
Buy
5
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 7, 2026
Q3 FY26 · EPS est $0.11 · Revenue est $4.74B
View
Dividends
$0.10/shareAnnualEx-div May 21, 2026 · in 11dStretchedCNH pays a dividend with a 0.91% declared yield, covered 6.0× by free cash flow.
Declared Yield
0.91%
Annual Div / Share
$0.10
TTM $0.25
5yr CAGR
-5.43%
Dividend has been cut
Payout Ratio
86.27%
Stretched
Dividend Growth Rate
3yr CAGR
-36.79%
5yr CAGR
-5.43%
10yr CAGR
-3.71%
Dividend Safety
6/10Stretched
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2026$0.10-60.0%
2025$0.25-46.8%
2024$0.47+18.7%
2023$0.40+31.1%
2022$0.30+128.5%
2021$0.13-34.9%
2019$0.20+18.0%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$9/yr
$1/mo
In 5 yrs
$9/yr
$1/mo
In 10 yrs
$9/yr
$1/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$9/yr $1/mo | $9/yr $1/mo | $9/yr $1/mo |
Analysis
Dividend Strengths
Well-covered by free cash flow
The dividend is covered 6.0× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Risks to Watch
High payout ratio
With 86.27% of earnings paid as dividends, there is limited retained earnings for reinvestment — and a dividend cut becomes more likely if earnings decline.
Dividend has been reduced
The 5-year dividend CAGR of -5.43% is negative, indicating the payout has been cut over this period.