TITAN INTERNATIONAL, INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 11.55 USD | +0.35% |
|
+0.17% | -22.38% |
| Feb. 29 | Titan International Acquires Carlstar for $296 Million; Shares Fall | MT |
| Feb. 29 | Transcript : Titan International, Inc., Q4 2023 Earnings Call, Feb 29, 2024 |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 218.2 | 298.3 | 727.9 | 962.8 | 920.9 | 841.7 | - |
| Enterprise Value (EV) 1 | 656 | 645.6 | 1,115 | 1,249 | 1,127 | 1,077 | 954.2 |
| P/E ratio | -4.31 x | -4.91 x | 13.9 x | 5.53 x | 11.9 x | 7.62 x | 6.42 x |
| Yield | 0.55% | 0.1% | - | - | - | - | - |
| Capitalization / Revenue | 0.15 x | 0.24 x | 0.41 x | 0.44 x | 0.51 x | 0.38 x | 0.35 x |
| EV / Revenue | 0.45 x | 0.51 x | 0.63 x | 0.58 x | 0.62 x | 0.48 x | 0.39 x |
| EV / EBITDA | 17.2 x | 11.9 x | 8.26 x | 4.94 x | 5.49 x | 4.65 x | 3.69 x |
| EV / FCF | 72.7 x | 18.2 x | -39.7 x | 11 x | 9.5 x | 10.7 x | 8.35 x |
| FCF Yield | 1.38% | 5.51% | -2.52% | 9.1% | 10.5% | 9.38% | 12% |
| Price to Book | - | - | - | - | - | - | - |
| Nbr of stocks (in thousands) | 60,288 | 61,377 | 66,412 | 62,844 | 61,890 | 72,871 | - |
| Reference price 2 | 3.620 | 4.860 | 10.96 | 15.32 | 14.88 | 11.55 | 11.55 |
| Announcement Date | 3/4/20 | 3/4/21 | 3/3/22 | 2/27/23 | 2/29/24 | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,449 | 1,259 | 1,780 | 2,169 | 1,822 | 2,240 | 2,430 |
| EBITDA 1 | 38.16 | 54.03 | 135 | 253 | 205.2 | 231.9 | 258.9 |
| EBIT 1 | -25.74 | -20.55 | 85.18 | 205.8 | 148.7 | 178.9 | 205.2 |
| Operating Margin | -1.78% | -1.63% | 4.78% | 9.49% | 8.16% | 7.98% | 8.45% |
| Earnings before Tax (EBT) 1 | -48.04 | -58.13 | 51.04 | 202.4 | 109.7 | 151.5 | 180.9 |
| Net income 1 | -50.35 | -60.39 | 49.59 | 176.3 | 78.76 | 107.7 | 129.8 |
| Net margin | -3.48% | -4.8% | 2.79% | 8.13% | 4.32% | 4.81% | 5.34% |
| EPS 2 | -0.8400 | -0.9900 | 0.7900 | 2.770 | 1.250 | 1.515 | 1.800 |
| Free Cash Flow 1 | 9.028 | 35.55 | -28.08 | 113.7 | 118.6 | 101 | 114.3 |
| FCF margin | 0.62% | 2.82% | -1.58% | 5.24% | 6.51% | 4.51% | 4.7% |
| FCF Conversion (EBITDA) | 23.66% | 65.79% | - | 44.95% | 57.77% | 43.58% | 44.13% |
| FCF Conversion (Net income) | - | - | - | 64.49% | 150.52% | 93.78% | 88.03% |
| Dividend per Share | 0.0200 | 0.005000 | - | - | - | - | - |
| Announcement Date | 3/4/20 | 3/4/21 | 3/3/22 | 2/27/23 | 2/29/24 | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 450.4 | 487.7 | 556 | 572.9 | 530.7 | 509.8 | 548.6 | 481.2 | 401.8 | 390.2 | 537.3 | 622.2 | 558.5 | 534.6 | 655.1 |
| EBITDA 1 | 35.13 | 36.11 | 56.8 | 82.15 | 61.2 | 52.82 | 67.63 | 58.97 | 40.55 | 38.08 | 59.54 | 66.22 | 45.72 | 41.91 | 69.87 |
| EBIT 1 | 22.9 | 24.32 | 44.71 | 69.7 | 50.49 | 40.9 | 55.14 | 45.9 | 26.98 | 20.72 | 46.3 | 52.99 | 32.48 | 28.67 | 56.63 |
| Operating Margin | 5.08% | 4.99% | 8.04% | 12.17% | 9.51% | 8.02% | 10.05% | 9.54% | 6.71% | 5.31% | 8.62% | 8.52% | 5.82% | 5.36% | 8.64% |
| Earnings before Tax (EBT) 1 | 16.15 | 19.51 | 33.26 | 87.92 | 54.16 | 27.01 | 47.65 | 41.32 | 24.38 | -3.603 | 40.06 | 46.19 | 25.81 | 22.42 | 50.8 |
| Net income 1 | 11.19 | 27.6 | 23.92 | 67.17 | 43.17 | 42.04 | 31.84 | 30.21 | 19.28 | -2.565 | 27.65 | 32.73 | 18.46 | 15.31 | 35.49 |
| Net margin | 2.48% | 5.66% | 4.3% | 11.72% | 8.13% | 8.25% | 5.8% | 6.28% | 4.8% | -0.66% | 5.15% | 5.26% | 3.31% | 2.86% | 5.42% |
| EPS 2 | 0.1800 | 0.4400 | 0.3700 | 1.060 | 0.6800 | 0.6600 | 0.5000 | 0.4800 | 0.3100 | -0.0400 | 0.4500 | 0.4650 | 0.3100 | 0.3000 | 0.4800 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/3/21 | 3/3/22 | 5/2/22 | 8/1/22 | 11/7/22 | 2/27/23 | 5/3/23 | 8/2/23 | 11/1/23 | 2/29/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | 438 | 347 | 387 | 286 | 206 | 236 | 113 |
| Net Cash position 1 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 11.47 x | 6.427 x | 2.866 x | 1.131 x | 1.003 x | 1.017 x | 0.4347 x |
| Free Cash Flow 1 | 9.03 | 35.5 | -28.1 | 114 | 119 | 101 | 114 |
| ROE (net income / shareholders' equity) | -19.6% | - | - | 45.9% | - | 16.3% | 14.4% |
| ROA (Net income/ Total Assets) | -4.26% | - | - | 11.4% | 7.78% | 6.6% | 6.9% |
| Assets 1 | 1,183 | - | - | 1,551 | 1,012 | 1,632 | 1,881 |
| Book Value Per Share | - | - | - | - | - | - | - |
| Cash Flow per Share | - | - | - | - | - | - | - |
| Capex 1 | 36.4 | 21.7 | 38.8 | 47 | 60.8 | 52 | 60 |
| Capex / Sales | 2.51% | 1.72% | 2.18% | 2.17% | 3.34% | 2.32% | 2.47% |
| Announcement Date | 3/4/20 | 3/4/21 | 3/3/22 | 2/27/23 | 2/29/24 | - | - |
1USD in Million
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -22.38% | 842M | |
| +29.62% | 50.98B | |
| +25.77% | 20.39B | |
| -20.63% | 19.42B | |
| +31.67% | 17.27B | |
| +1.48% | 15.84B | |
| -18.75% | 13.35B | |
| +31.97% | 11.74B | |
| +28.58% | 10.66B | |
| +30.12% | 10.21B |
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