olivLaw · US equity research
Titan Machinery Inc. TITN
Retail-Retail Stores, NEC · SIC 5990 · Vertical: Retail-Retail Stores, NEC (SIC 5990)
Titan Machinery operates a network of full service agricultural and construction equipment stores across the United States, Europe and Australia, and is a major CNH dealer. In the second quarter of fiscal 2027 revenue fell to 496.4 million USD amid weak agricultural demand, while gross margin rose, a sign of inventory recovery.
At the close of 04 Nov 2026, Titan Machinery Inc. (TITN) stock was 22.52 USD (−3.14% on the day), with market capitalisation 530.0 m USD, beta 1.33, 52-week range 14.15–26.22 USD. Latest reported quarter (Q2 2027): revenue of 496.4 m USD (−9.2% YoY), net income of -9.2 m USD, diluted EPS -0.40 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 44.5
- weak (30–45)
- Bollinger (20, 2)
- 21.82 – 24.32
- in the lower half of the band · %B 0.28 · band width 10.8%
- SMA 50 / 200
- 23.16 / 20.09
- mixed trend
- MACD (12, 26, 9)
- 0.07 / 0.11
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −11.1% | −1.1% | −10.0 pp | — |
| 3 months | +14.5% | −0.5% | +15.0 pp | — |
| 6 months | +5.3% | +4.4% | +0.9 pp | — |
| Year to date | +49.7% | +12.3% | +37.4 pp | — |
| 1 year | +37.1% | +13.5% | +23.6 pp | −26.6% |
| 3 years | −13.7% | +76.4% | −90.1 pp | −49.3% |
| 5 years | −27.1% | +63.7% | −90.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 31 Jul 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 679.8 m | 759.9 m | 594.3 m | 546.4 m | 644.5 m | 641.8 m | 522.4 m | 496.4 m |
| Cost of revenue | 569.3 m | 708.9 m | 503.4 m | 452.8 m | 533.5 m | 554.9 m | 433.1 m | 404.0 m |
| Gross profit | 110.5 m | 51.0 m | 90.9 m | 93.6 m | 111.0 m | 87.0 m | 89.3 m | 92.4 m |
| Operating income | 11.5 m | -45.8 m | -5.7 m | 662.0 k | 10.3 m | -11.9 m | -5.6 m | -2.3 m |
| Depreciation & amortisation | 10.3 m ≈ | 9.9 m | 8.9 m | 9.4 m ≈ | 9.8 m ≈ | 9.4 m | 9.0 m | 9.5 m ≈ |
| Interest expense | 4.3 m | -829.0 k | 4.5 m | 4.7 m | 4.8 m | -14.0 m | 4.6 m | 4.4 m |
| Pre-tax income | 275.0 k | -58.8 m | -17.3 m | -8.2 m | 2.8 m | -22.7 m | -12.5 m | -9.2 m |
| Income tax | -1.4 m | -15.0 m | -4.1 m | -2.2 m | 1.6 m | 13.5 m | 141.0 k | -6.0 k |
| Net income | 1.7 m | -43.8 m | -13.2 m | -6.0 m | 1.2 m | -36.2 m | -12.6 m | -9.2 m |
| Diluted EPS | 0.07 | -1.93 ≈ | -0.58 | -0.26 | 0.05 | -1.59 ≈ | -0.55 | -0.40 |
| Operating cash flow | -8.8 m ≈ | 126.5 m | 6.2 m | 43.7 m ≈ | 34.0 m ≈ | 53.6 m | -23.1 m | -2.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.3 bn | 1.3 bn | 1.4 bn | 1.7 bn | 2.2 bn | 2.8 bn | 2.7 bn | 2.4 bn |
| Revenue YoY | +5.8% | +3.5% | +8.1% | +21.3% | +29.1% | +24.9% | −2.0% | −10.2% |
| Net income | 12.2 m | 14.0 m | 19.4 m | 66.0 m | 101.9 m | 112.4 m | -36.9 m | -54.2 m |
| Net income YoY | unavailable | +14.5% | +38.7% | +241.2% | +54.2% | +10.4% | −132.8% | unavailable |
| Diluted EPS | 0.55 | 0.63 | 0.86 | 2.92 | 4.49 | 4.93 | -1.63 | -2.38 |
| Diluted EPS YoY | unavailable | +14.5% | +36.5% | +239.5% | +53.8% | +9.8% | −133.1% | unavailable |
| net % | 1.0% | 1.1% | 1.4% | 3.9% | 4.6% | 4.1% | -1.4% | -2.2% |
| Free cash flow | 40.3 m | -9.8 m | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 Jan 2026
- Cash
- 28.2 m USD
- Financial debt
- 180.0 m USD
- Net debt
- 151.8 m USD
- Equity
- 579.3 m USD
- Total assets
- 1.6 bn USD
- Debt / equity
- 0.31x
- Current ratio
- 1.41x
- ROE
- -9.1%
- ROA
- -3.2%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.4 bn | 1.7 bn | 2.2 bn | 2.8 bn | 2.7 bn | 2.4 bn | SEC (XBRL)· 31 Mar 2026verified |
| Cost of revenue | 1.1 bn | 1.4 bn | 1.8 bn | 2.2 bn | 2.3 bn | 2.0 bn | SEC (XBRL)· 31 Mar 2026verified |
| Gross profit | 261.4 m | 332.7 m | 439.8 m | 531.4 m | 395.6 m | 382.6 m | SEC (XBRL)· 31 Mar 2026verified |
| Operating income | 37.4 m | 90.2 m | 138.3 m | 168.8 m | 4.0 m | -6.7 m | SEC (XBRL)· 31 Mar 2026verified |
| Depreciation & amortisation | 23.7 m | 22.1 m | 25.2 m | 31.5 m | 38.6 m | 37.6 m | SEC (XBRL)· 31 Mar 2026verified |
| EBITDA | 61.1 m ≈ | 112.3 m ≈ | 163.5 m ≈ | 200.3 m ≈ | 42.6 m ≈ | 30.9 m ≈ | SEC (XBRL)· 31 Mar 2026derived |
| Interest expense | 7.2 m | 5.7 m | 6.9 m | — | 9.7 m | 0 | SEC (XBRL)· 31 Mar 2026verified |
| Pre-tax income | 30.8 m | 86.9 m | 135.2 m | 151.0 m | -50.0 m | -45.4 m | SEC (XBRL)· 31 Mar 2026verified |
| Income tax | 11.4 m | 20.9 m | 33.4 m | 38.6 m | -13.1 m | 8.8 m | SEC (XBRL)· 31 Mar 2026verified |
| Net income | 19.4 m | 66.0 m | 101.9 m | 112.4 m | -36.9 m | -54.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Diluted EPS | 0.86 | 2.92 | 4.49 | 4.93 | -1.63 | -2.38 | SEC (XBRL)· 31 Mar 2026verified |
| Weighted average diluted shares | 22.1 m | 22.2 m | 22.4 m | 22.5 m | 22.6 m | 22.7 m | SEC (XBRL)· 31 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 79.0 m | 146.1 m | 43.9 m | 38.1 m | 35.9 m | 28.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Receivables | 41.6 m | 94.3 m | 95.8 m | 153.7 m | 119.8 m | 127.0 m | SEC (XBRL)· 09 Jun 2026verified |
| Inventories | 418.5 m | 421.8 m | 703.9 m | 1.3 bn | 1.1 bn | 903.1 m | SEC (XBRL)· 31 Mar 2026verified |
| Current assets | 580.2 m | 690.3 m | 869.3 m | 1.5 bn | 1.3 bn | 1.1 bn | SEC (XBRL)· 31 Mar 2026verified |
| Property, plant & equipment, net | 147.2 m | 178.2 m | 217.8 m | 298.8 m | 379.7 m | 361.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Goodwill | 1.4 m | 9.0 m | 30.6 m | 64.1 m | 61.2 m | 65.6 m | SEC (XBRL)· 31 Mar 2026verified |
| Intangibles (excl. goodwill) | 7.8 m | 10.6 m | 18.4 m | 53.4 m | 48.3 m | 51.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Total assets | 815.8 m | 946.7 m | 1.2 bn | 2.0 bn | 1.8 bn | 1.6 bn | SEC (XBRL)· 31 Mar 2026verified |
| Accounts payable | 20.0 m | 25.6 m | 40.8 m | 43.8 m | 37.2 m | 35.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Short-term debt | 4.6 m | 5.9 m | 7.2 m | 13.7 m | 10.9 m | 21.4 m | SEC (XBRL)· 31 Mar 2026verified |
| Long-term debt | 44.9 m | 74.8 m | 90.0 m | 106.4 m | 157.8 m | 158.6 m | SEC (XBRL)· 31 Mar 2026verified |
| Current liabilities | 317.5 m | 374.7 m | 498.2 m | 1.2 bn | 961.0 m | 772.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Equity | 345.1 m † | 435.2 m † | 536.3 m † | 657.6 m † | 614.1 m † | 579.3 m † | SEC (XBRL)· 31 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 173.0 m | 158.9 m | 10.8 m | -32.3 m | 70.3 m | 137.5 m | SEC (XBRL)· 31 Mar 2026verified |
| Investing cash flow | -20.3 m | -55.2 m | -134.1 m | -163.4 m | -47.7 m | -22.7 m | SEC (XBRL)· 31 Mar 2026verified |
| Financing cash flow | -117.9 m | -35.3 m | 22.0 m | 188.6 m | -23.6 m | -123.7 m | SEC (XBRL)· 31 Mar 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 56.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 530.0 m USD
Key indicators
Coverage and freshness
Score by group
56% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.21 – 15.17 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDA0.21 – 15.17 (Mid 6.24)4 companies used · median multiple 10.3x · quartiles 5.3x – 17.8xSBH, SGU, TKLF, ULTA
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 56.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -1.1% | 50 (vs peers) | 19% |
| Net margin · Quality | -2.5% | 44 (vs peers) | 11% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 3.2% | 27 (on a fixed band) | 15% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 5.1x | 29 (vs peers) | 19% |
| Interest coverage · Balance sheet | -39.5x | 0 (on a fixed band) | 11% |
| Current ratio · Balance sheet | 1.3x | 46 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | 23.9x | 0 (on a fixed band) | 19% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet23/100 · 3/3 factors with a value
- Growth· partial27/100 · 1/2 factors with a value
- Quality48/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
TITAN MACHINERY INC. (TITN). Latest full fiscal year: 2026; data up to 2026-07-31.
Figures computed from the financial statements: revenue 2.4 bn USD in 2026; YoY growth -10.2%; net margin -2.5%; ROE -9.7%; net debt/EBITDA 5.1x.
The estimated value range is 0.21–15.17 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 6.24 USD, the price of 22.52 USD leaves a potential of -72.3% (value / price − 1) and a margin of safety of -260.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 56.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Revenue CAGR 3Y: 3.2%
- Net debt / EBITDA: 5.1x
- Interest coverage: -39.5x
- EV/EBITDA: 23.9x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, P/E (TTM), FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Retail-Retail Stores, NEC (SIC 5990) · same industry (4-digit SIC) · compared with 18 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ULTAUlta Beauty, Inc. | 28.2 bn | 24.1 | 46.1% | 9.3% | +9.7% | +23% / +55% |
| BBWIBath & Body Works, Inc. | 4.7 bn | 6.1 | — | 10.8% | −0.2% | +35% / −28% |
| SBHSally Beauty Holdings, Inc. | 1.8 bn | 10.0 | 23.5% | 5.2% | −0.4% | +21% / +99% |
| YJYunji Inc. | 1.3 bn | — | -13.5% | -42.0% | −20.8% | −27% / −62% |
| TITNTitan Machinery Inc. | 530.0 m | — | -9.7% | -2.5% | −10.2% | +37% / −14% |
| SGUStar Group, L.P. | 429.8 m | 4.9 | — | 4.6% | +1.0% | +9% / +2% |
| NAASNaaS Technology Inc. | 223.8 m | — | — | -454.5% | −38.9% | −44% / −100% |
| NEGGNewegg Commerce, Inc. | 207.4 m | — | -3.7% | -0.3% | +16.9% | −87% / −61% |
| RENTRent the Runway, Inc. | 83.1 m | 0.2 | — | 11.8% | +7.7% | −49% / −77% |
| BARKBark, Inc. | 75.2 m | — | -36.7% | -8.4% | −18.5% | −42% / −49% |
| TKLFTokyo Lifestyle Co., Ltd. | 58.0 m | 68.5 | 1.7% | 0.2% | +77.6% | −48% / −82% |
| BQBoqii Holding Limited | 10.5 m | — | -2.8% | -1.2% | −5.7% | −79% / −98% |
| INHDInno Holdings Inc. | 8.7 m | — | -7.2% | -72.7% | +221.4% | −97% / unavailable |
| RCTRedCloud Holdings plc | 2.3 m | — | — | -95.3% | +4.3% | −98% / unavailable |
| LESLLeslie’s, Inc. | 955.3 k | — | — | -21.2% | −6.6% | unavailable / unavailable |
| WOOFPetco Health & Wellness Company, Inc. | — | 31.1 | 2.6% | 0.5% | −2.5% | −2% / +4% |
| FLWS1 800 Flowers Com Inc | — | — | -65.4% | -9.0% | −10.8% | −17% / −68% |
| HITIHigh Tide Inc. | — | — | -44.0% | -8.5% | +13.7% | +8% / +85% |
| JDJD.com, Inc. | — | 30.1 | 10.2% | 1.8% | +17.9% | −7% / +1% |
1- and 3-year price returns: for TITN from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Titan Machinery operates a network of full service agricultural and construction equipment stores across the United States, Europe and Australia, and is a major CNH dealer. In the second quarter of fiscal 2027 revenue fell to 496.4 million USD amid weak agricultural demand, while gross margin rose, a sign of inventory recovery.
SWOT
Strengths
- The extensive store network covers several markets and reduces exposure to the cycles of any single region 1. The long relationship with CNH and recognition as a leading dealer for certain brands are important assets 1. The parts and service mix provides steadier revenue 1.
- Experience in acquisitions and the ability to consolidate a fragmented industry are an advantage 1. Centralized inventory management allows fast adjustment of stock levels 1.
- Rising gross margin in the second quarter of fiscal 2027 shows that efforts to reduce aged inventory are working 3.
Weaknesses
- Dependence on a single supplier, CNH, makes performance depend on the success and terms of that manufacturer's agreements 1.
- Equipment sales are very sensitive to farm income and financing costs, which led to net losses in recent quarters 2.
- Operating cash flow was negative in the first six months of fiscal 2027, reflecting the timing of inventory receipts and floorplan financing 3.
Opportunities
- If agricultural fundamentals recover, equipment demand could return and support sales growth 3. Demand in construction and data center projects offers growth opportunities 3.
- Consolidation of smaller dealers remains a growth path, and the company says it will continue its acquisition strategy 1. The Australian market, with better moisture levels, could support near-term demand 3.
- Precision farming and farm data management services could grow recurring revenue from customers 1.
Threats
- Tariffs and trade retaliation could raise purchase costs and reduce agricultural exports of customers 2. A possible recession could weigh further on equipment demand 2.
- Tighter credit conditions and high interest rates could discourage customer purchases and raise the cost of floorplan-financed stock 1.
- If CNH changed contract terms or ended dealer agreements, the business could be seriously affected 1.
Risks
- Dependence on CNHhigh
Most sales come from CNH products, and any change to dealer agreements could seriously affect operations 1.
- Farm cyclehigh
Equipment demand depends on farm income, which has fallen, and recovery is uncertain 2.
- Tariffs and trademedium
Tariffs and possible retaliation could affect purchase prices and agricultural exports 2.
- Financing and creditmedium
Reliance on floorplan financing and credit markets could limit the ability to manage inventory 1.
- Europemedium
The wind-down in Germany and weaker European demand could continue to weigh on revenue 3.
Investment thesis
What would need to be true (bull case)
- Rising gross margin and reduced aged inventory show that management actions are having an effect 3.
- Management believes calendar 2026 could be the bottom of the agricultural cycle, which could open a path to recovery 3.
- Construction and the Australian market show growth, diversifying revenue sources 3.
What would break the thesis
What to watch
- Gross margin trend and equipment inventory levelsQ3 2027
- Same-store sales pace in the Agriculture segmentQ3 2027
- Impact of the German wind-down on Europe2027
- Updates to segment revenue assumptions and profitability guidancenext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The company owns and operates full service agricultural and construction equipment stores in the United States, Europe and Australia. According to its 10-K for the fiscal year ended 31 January 2026, Titan Machinery has been an authorized CNH dealer since 1980 and states it is the largest retail dealer of Case IH Agriculture equipment in the world 1. Its model combines new and used equipment sales, parts, service and repair, and rental, giving customers a one-stop offer 1.
The network includes 90 stores in the United States, 39 in Europe and 15 in Australia 1. The company relies heavily on CNH: approximately 69% of new equipment revenue in fiscal 2026 came from CNH products 1. The O'Connors acquisition in Australia, completed in October 2023, expanded its international presence 1.
Segments
Market context
Demand for agricultural equipment depends on farm net income, commodity prices, weather and financing costs 1. According to USDA figures cited in the filing, farm cash receipts for calendar 2026 could decrease 2.7% versus 2025, after a 3.0% rise in 2025 2. Construction equipment demand depends on public infrastructure spending and residential and commercial activity 1.
The market is fragmented, with many regional dealers, which makes consolidation through acquisitions a central part of the strategy 1. US tariffs and possible retaliation by other countries could raise purchase prices and affect agricultural exports, with effects on farm customers 2.
Trends
- Downturn in the farm cycleheadwind
Lower farmer profitability has reduced equipment demand, and the company expects this pressure to continue through the rest of fiscal 2027 2. Management suggests calendar 2026 could be the bottom of the cycle if agricultural fundamentals recover 3.
- Margin recoverytailwind
Gross margin rose to 18.6% in the second quarter of fiscal 2027 from 17.1%, helped by reduced aged inventory and a richer mix of parts and service 3.
- Tariffs and import costsheadwind
Tariffs could raise equipment and parts purchase prices, and if these cannot be fully passed on to customers, margins could compress 1.
- Infrastructure and data centerstailwind
Public infrastructure investment and data center projects are seen as support for the construction segment in the company's area 3.
Competitive position
The agricultural and construction equipment market is highly competitive and fragmented, with many regional or local dealers 1. Direct competition comes from rival manufacturers distributing through their own networks, as well as e-commerce platforms that affect parts sales 1.
Principal rival manufacturers named in the filing include Deere, AGCO, Kubota, Caterpillar, Komatsu, Volvo Group and Terex 1. Competition on price and inventory availability can reduce margins, and the company could struggle to keep pace if rivals offer better products or financing 1.
- Deere & CompanyDE
Agricultural and construction equipment manufacturer cited among the largest global manufacturers in the industry 1.
- AGCO CorporationAGCO
Agricultural equipment manufacturer named as a rival to CNH in the company's filing 1.
- Caterpillar, Inc.CAT
Construction equipment manufacturer cited among the main competitors of the CNH construction range 1.
- Kubota Corporation
Agricultural equipment manufacturer named in the filing among the largest global manufacturers 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Backbone of a beast – charting Nvidia's rise to networking titanThe Register · 31 Oct 2026 · EN
- SAPE: Corpul de Control al Prim-ministrului nu a identificat prejudicii legate de activitatea companiei; Solvabilitatea societății susține construirea CET Titan, prima centrală nouă de termoficare din București după 46 de aniFinancial Intelligence (RO) · 26 Oct 2026 · RO
- Kyiv Independent: Forţele ucrainene au lovit uzina Avisma, unul dintre cei mai mari producători mondiali de burete de titan - Ziarul BursaBURSA.ro · 25 Oct 2026 · RO
- Russia develops advanced Titan robotic demining systemTASS (RU, EN) · 23 Oct 2026 · EN
- Voice actor Hiroshi Tsuchida, star of Attack On Titan and Kakuranger, dies at age 54CNA (Channel NewsAsia) · 21 Oct 2026 · EN
- 5 tone de dovleci pot fi sculptați pentru Halloween, la Titan Pumpkin Fest, în București. Ateliere, jocuri și concerte pentru întreaga familie, între 16 și 18 octombrieLibertatea.ro · 16 Oct 2026 · RO
- Titan Pumpkin Fest, cu cinci tone de dovleci, muzică și jocuri de Halloween, la sfârșitul acestei săptămâniAgerpres · 16 Oct 2026 · RO
- Și-a pierdut soțul și fiul în submersibilul Titan. Acum, la 3 ani de la tragedie, Christine Dawood dezvăluie: Cedase locul ei copiluluiAntena 3 CNN · 13 Oct 2026 · RO
- Attack On Titan: The Musical coming to Singapore in April 2027CNA (Channel NewsAsia) · 12 Oct 2026 · EN
- Dezvoltatorul MediaCity atrage 18,7 mil. euro de la antreprenorul belgian Peter De Cuyper, care preia 33,3% din business. Compania va începe lucrările la 451 de apartamente în zona Titan din CapitalăZiarul Financiar · 07 Oct 2026 · RO
- Tramvaiele mari Astra Imperio impun ca depourile de tramvai Colentina și Titan să fie modernizate, Două oferte, buget de aproape 650 milioane leiProfit.ro · 07 Oct 2026 · RO
- Titan International (TWI) Signs ITM Sale. How Much of the $285 Million is New Cash?Yahoo Finance — News · 23 Sept 2026 · EN
- India's Titan On What's Slowing Gold DemandYahoo Finance — News · 22 Sept 2026 · EN
- Dow Jones Tech Titan Amazon Eyes Buy Point Amid Battle With Key Support LevelYahoo Finance — News · 22 Sept 2026 · EN
- Tech titan unveils surprising new role for Slack in AI expansionYahoo Finance — News · 20 Sept 2026 · EN
- Seoul's streetwear titan Musinsa expands physical footprint to ShenzhenKorea Times — Business · 17 Sept 2026 · EN
- Dow Jones Tech Titan Apple, Nvidia Chipmaker TSMC, AMD, Bloom Energy In Or Near Buy ZonesYahoo Finance — News · 16 Sept 2026 · EN
- Titan Machinery’s (TITN) Margins Improve While Losses Keep GrowingYahoo Finance — News · 09 Sept 2026 · EN
- BofA stays bullish on a cloud titan that is down 25%Yahoo Finance — News · 07 Sept 2026 · EN
- La 1050 de ani de la moartea sa, un mare împărat a fost reînhumat în Germania. Sicriul este din titan, cu foiţe de aurAntena 3 CNN · 06 Sept 2026 · RO
SEC filings
- Quarterly report03 Sept 2026
- Current report27 Aug 2026Results of operations
- Quarterly report09 Jun 2026
- Current report09 Jun 2026Shareholder vote
- Current report09 Jun 2026Results of operations
- Proxy statement29 Apr 2026
- Annual report31 Mar 2026
- Current report19 Mar 2026Results of operations
- Current report13 Mar 2026Departure or appointment of officers
- Quarterly report04 Dec 2025
Sources
- [1] Form 10-K, fiscal year ended 2026-01-31 · SEC / Titan Machinery Inc. · 31 Mar 2026
- [2] Form 10-Q, quarter ended 2026-07-31 · SEC / Titan Machinery Inc. · 03 Sept 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Titan Machinery Inc. · 27 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.