Titan International, Inc., together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway industry in North America, Europe, CIS, Latin America, Asia, and internationally. It operates through Agricultural, Earthmoving/Construction, and Consumer segments. The company offers wheels, tires, and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment; and agricultural tires under the Goodyear Farm Tire, Titan Tire, Carlstar, ACES, and Voltyre-Prom brands. It also provides wheels, tires, and undercarriage systems and components for various types of off-the-road earthmoving, mining, military, construction, and forestry equipment, such as skid steers, aerial lifts, cranes, graders and levelers, scrapers, self-propelled shovel loaders, articulated dump trucks, load transporters, haul trucks, backhoe loaders, crawler tractors, lattice cranes, shovels, and hydraulic excavators under the Titan brand. In addition, the company manufactures and distributes wheels and tires for end-market verticals comprising outdoor power equipment, power sports, and high speed trailers; and manufactures and sells small to midsize agricultural tires under the Carlstar, ITP, Black Rock, Goodyear, and Unique brands. Further, it is involved in the provision of wheel and tire assembly services; manufactures bias truck and light truck tires; and sale of rubber stocks. The company sells its products directly to original equipment manufacturers, as well as to the aftermarket through independent distributors, equipment dealers, and its distribution centers. Titan International, Inc. was founded in 1890 and is headquartered in West Chicago, Illinois.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.8B | $95M | $-63M | $-25M | -12.2% | -0.9% | - |
| 2024 | $1.8B | $105M | $-6M | $76M | -1.1% | 1.3% | -107.1% |
| 2023 | $1.8B | $181M | $79M | $119M | 16.9% | -16.0% | -55.3% |
| 2022 | $2.2B | $277M | $176M | $114M | 46.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 2,169.38 | 1,821.80 | 1,845.94 | 1,828.44 |
| Cost Of Revenue | 1,808.67 | 1,515.95 | 1,588.13 | 1,574.98 |
| Gross Profit | 360.71 | 305.85 | 257.80 | 253.46 |
| Operating Expense | 121.54 | 157.12 | 218.42 | 232.70 |
| Operating Income | 239.17 | 148.73 | 39.38 | 20.76 |
| EBITDA | 277.25 | 181.34 | 105.40 | 94.52 |
| EBIT | 234.50 | 138.91 | 44.70 | 27.41 |
| Pretax Income | 202.35 | 109.75 | 8.27 | -11.30 |
| Tax Provision | 23.17 | 26.04 | 11.86 | 49.89 |
| Net Income | 176.30 | 78.76 | -5.56 | -63.49 |
| Net Income Common Stockholders | 176.30 | 78.76 | -5.56 | -63.49 |
| Total Expenses | 1,930.21 | 1,673.07 | 1,806.56 | 1,807.68 |
| Interest Expense | 32.15 | 29.16 | 36.43 | 38.71 |
| Interest Income | 2.35 | 10.37 | 11.02 | 10.70 |
| Research And Development | 10.40 | 12.54 | 16.52 | 18.32 |
| Selling General And Administration | 132.79 | 134.94 | 191.79 | 203.27 |
| Normalized EBITDA | 286.14 | 202.76 | 113.84 | 101.15 |
| Normalized Income | 184.18 | 95.10 | 1.11 | -58.25 |
| Basic EPS | 2.80 | 1.26 | -0.08 | -1 |
| Diluted EPS | 2.77 | 1.25 | -0.08 | -1 |
| Tax Effect Of Unusual Items | -1.01 | -5.08 | -1.77 | -1.39 |
| Tax Rate For Calcs | 0.11 | 0.24 | 0.21 | 0.21 |
| Total Unusual Items | -8.89 | -21.42 | -8.44 | -6.63 |
| Total Unusual Items Excluding Goodwill | -8.89 | -21.42 | -8.44 | -6.63 |
| Net Income From Continuing Operation Net Minority Interest | 176.30 | 78.76 | -5.56 | -63.49 |
| Reconciled Depreciation | 42.75 | 42.43 | 60.70 | 67.11 |
| Reconciled Cost Of Revenue | 1,808.67 | 1,515.95 | 1,588.13 | 1,574.98 |
| Net Interest Income | -29.80 | -18.79 | -25.41 | -28 |
| Net Income From Continuing And Discontinued Operation | 176.30 | 78.76 | -5.56 | -63.49 |
| Total Operating Income As Reported | 205.80 | 148.73 | 33.18 | 20.76 |
| Diluted Average Shares | 63.69 | 62.96 | 68.66 | 63.71 |
| Basic Average Shares | 63.04 | 62.45 | 68.66 | 63.71 |
| Diluted NI Availto Com Stockholders | 176.30 | 78.76 | -5.56 | -63.49 |
| Otherunder Preferred Stock Dividend | 0 | 0 | 0 | 0 |
| Minority Interests | -2.88 | -4.95 | -1.97 | -2.31 |
| Net Income Including Noncontrolling Interests | 179.19 | 83.71 | -3.59 | -61.19 |
| Net Income Continuous Operations | 179.19 | 83.71 | -3.59 | -61.19 |
| Other Income Expense | -7.02 | -20.19 | -5.70 | -4.05 |
| Other Non Operating Income Expenses | 1.87 | 1.22 | 2.73 | 2.58 |
| Special Income Charges | -10.67 | 0.25 | -3.34 | -2.80 |
| Gain On Sale Of Ppe | 0.22 | 0.25 | 0.81 | 0.05 |
| Gain On Sale Of Business | -10.89 | 0 | -0.38 | 0 |
| Other Special Charges | 0 | 0 | -2.43 | 2.85 |
| Restructuring And Mergern Acquisition | 0 | 0 | 6.20 | 0 |
| Earnings From Equity Interest | 0.86 | 0 | 0 | 0 |
| Gain On Sale Of Security | 1.79 | -21.66 | -5.10 | -3.84 |
| Net Non Operating Interest Income Expense | -29.80 | -18.79 | -25.41 | -28 |
| Interest Expense Non Operating | 32.15 | 29.16 | 36.43 | 38.71 |
| Interest Income Non Operating | 2.35 | 10.37 | 11.02 | 10.70 |
| Other Operating Expenses | 10.39 | 9.64 | 10.11 | 11.11 |
| Other Taxes | -32.04 | -0.47 | 0 | 0 |
| Operating Revenue | 2,169.38 | 1,821.80 | 1,845.94 | 1,828.44 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Titan International, Inc.this co. | TWI | $512M | - | 0.99 | -12.2% | 11.47 |
| Tejon Ranch Co. | TRC | $531M | - | 1.11 | 0.0% | -291.89 |
| Richtech Robotics Inc. | RR | $530M | - | 1.49 | -5.8% | -8.52 |
| Bowman Consulting Group Ltd. | BWMN | $522M | 41.78 | 2.01 | 4.9% | 16.21 |
| Ennis, Inc. | EBF | $521M | 12.41 |
| 1.69 |
| 13.3% |
| 7.03 |
| Pangaea Logistics Solutions Ltd. | PANL | $496M | 25.33 | 1.15 | 4.1% | 10.08 |
| Cryoport, Inc. | CYRX | $492M | - | 1.06 | 15.6% | -89.47 |
| Insteel Industries Inc. | IIIN | $490M | 11.96 | 1.32 | 11.0% | 6.31 |
| Orion Group Holdings, Inc. | ORN | $483M | 54.59 | 3.01 | 1.6% | 15.30 |
| Peer Median | - | 25.33 | 1.41 | 4.5% | 6.67 | |