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Also traded in: Germany, Italy, UK

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 4/10

vs
industry
vs
history
Cash-to-Debt 0.10
CNHI's Cash-to-Debt is ranked lower than
92% of the 133 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 0.53 vs. CNHI: 0.10 )
Ranked among companies with meaningful Cash-to-Debt only.
CNHI' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.1  Med: 0.19 Max: N/A
Current: 0.1
Equity-to-Asset 0.10
CNHI's Equity-to-Asset is ranked lower than
95% of the 131 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 0.50 vs. CNHI: 0.10 )
Ranked among companies with meaningful Equity-to-Asset only.
CNHI' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.08  Med: 0.1 Max: 0.1
Current: 0.1
0.08
0.1
Interest Coverage 3.53
CNHI's Interest Coverage is ranked lower than
78% of the 137 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 20.95 vs. CNHI: 3.53 )
Ranked among companies with meaningful Interest Coverage only.
CNHI' s Interest Coverage Range Over the Past 10 Years
Min: 2.14  Med: 2.21 Max: 3.53
Current: 3.53
2.14
3.53
Piotroski F-Score: 6
Altman Z-Score: 1.50
Beneish M-Score: -2.24
WACC vs ROIC
36.28%
5.58%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating Margin % 13.40
CNHI's Operating Margin % is ranked higher than
88% of the 132 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 3.89 vs. CNHI: 13.40 )
Ranked among companies with meaningful Operating Margin % only.
CNHI' s Operating Margin % Range Over the Past 10 Years
Min: 8.48  Med: 8.83 Max: 13.4
Current: 13.4
8.48
13.4
Net Margin % -0.89
CNHI's Net Margin % is ranked lower than
79% of the 132 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 2.42 vs. CNHI: -0.89 )
Ranked among companies with meaningful Net Margin % only.
CNHI' s Net Margin % Range Over the Past 10 Years
Min: -1.01  Med: 1.82 Max: 2.3
Current: -0.89
-1.01
2.3
ROE % -4.41
CNHI's ROE % is ranked lower than
83% of the 130 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 3.76 vs. CNHI: -4.41 )
Ranked among companies with meaningful ROE % only.
CNHI' s ROE % Range Over the Past 10 Years
Min: -5.54  Med: 15.05 Max: 38.53
Current: -4.41
-5.54
38.53
ROA % -0.46
CNHI's ROA % is ranked lower than
76% of the 134 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.86 vs. CNHI: -0.46 )
Ranked among companies with meaningful ROA % only.
CNHI' s ROA % Range Over the Past 10 Years
Min: -0.56  Med: 1.29 Max: 3.09
Current: -0.46
-0.56
3.09
ROC (Joel Greenblatt) % 3.59
CNHI's ROC (Joel Greenblatt) % is ranked lower than
69% of the 134 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 7.78 vs. CNHI: 3.59 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
CNHI' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.49  Med: 7.85 Max: 17.36
Current: 3.59
2.49
17.36
3-Year Revenue Growth Rate -4.10
CNHI's 3-Year Revenue Growth Rate is ranked lower than
71% of the 126 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: -1.30 vs. CNHI: -4.10 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
CNHI' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -5.9  Med: -5.1 Max: -4.1
Current: -4.1
-5.9
-4.1
3-Year EBITDA Growth Rate -9.40
CNHI's 3-Year EBITDA Growth Rate is ranked lower than
84% of the 112 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 3.70 vs. CNHI: -9.40 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
CNHI' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -9.4  Med: -5.4 Max: -4.8
Current: -9.4
-9.4
-4.8
GuruFocus has detected 5 Warning Signs with CNH Industrial NV $CNHI.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» CNHI's 10-Y Financials

Financials (Next Earnings Date: 2017-05-01 Est.)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q1 2016

CNHI Guru Trades in Q1 2016

Jim Simons 1,191,569 sh (+843.89%)
Louis Moore Bacon 141,927 sh (+19.60%)
Barrow, Hanley, Mewhinney & Strauss 25,661,114 sh (-0.22%)
Mario Gabelli 6,235,298 sh (-1.57%)
Mason Hawkins 39,945,947 sh (-2.51%)
HOTCHKIS & WILEY 35,376,141 sh (-2.55%)
Third Avenue Management 537,178 sh (-10.59%)
» More
Q2 2016

CNHI Guru Trades in Q2 2016

Caxton Associates 325,000 sh (New)
Mario Gabelli 6,382,054 sh (+2.35%)
HOTCHKIS & WILEY 35,571,805 sh (+0.55%)
Third Avenue Management 537,178 sh (unchged)
Louis Moore Bacon Sold Out
Barrow, Hanley, Mewhinney & Strauss 24,241,395 sh (-5.53%)
Mason Hawkins 34,175,404 sh (-14.45%)
Jim Simons 608,100 sh (-48.97%)
» More
Q3 2016

CNHI Guru Trades in Q3 2016

Louis Moore Bacon 112,824 sh (New)
Jim Simons 1,512,377 sh (+148.71%)
Mario Gabelli 6,740,636 sh (+5.62%)
HOTCHKIS & WILEY 36,662,439 sh (+3.07%)
Mason Hawkins 34,395,317 sh (+0.64%)
Caxton Associates Sold Out
Third Avenue Management 534,489 sh (-0.50%)
Barrow, Hanley, Mewhinney & Strauss 14,564,625 sh (-39.92%)
» More
Q4 2016

CNHI Guru Trades in Q4 2016

Mario Gabelli 7,854,350 sh (+16.52%)
Barrow, Hanley, Mewhinney & Strauss 14,397,890 sh (-1.14%)
Mason Hawkins 32,891,142 sh (-4.37%)
HOTCHKIS & WILEY 33,988,165 sh (-7.29%)
Third Avenue Management 490,100 sh (-8.30%)
Jim Simons 138,900 sh (-90.82%)
» More
» Details

Insider Trades

Latest Guru Trades with CNHI

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Business Description

Industry: Farm & Construction Machinery » Farm & Construction Equipment  
Compare:OTCPK:PUTKY, OTCPK:KUBTY, OTCPK:HTCMY, NYSE:AGCO, NYSE:TEX, NYSE:JOY, OTCPK:WKRCF, OTCPK:KMTUY, NAS:ASTE, NYSE:LNN, NYSE:ALG, NYSE:MTW, OTCPK:SGHDF, OTCPK:AGGZF, NYSE:TWI, NAS:CMCO, NAS:GENC, OTCPK:CSQPF, OTCPK:TRTC, OTCPK:AMMJ » details
Traded in other countries:37C.Germany, CNHI.Italy, 0QGU.UK,
CNH Industrial NV designs, manufactures and sells agricultural and construction equipment such as trucks, commercial vehicles, buses, special vehicles, engines and transmissions for those vehicles and engines for marine applications.

CNH Industrial is the product of a 2013 merger between CNH Global (which manufactures farm and construction equipment) and former parent company Fiat Industrial (manufacturer of Iveco heavy-duty trucks and Fiat Powertrain engines, axles, and gearboxes). The company has headquarters in Amsterdam and employs roughly 69,000 people worldwide.

Guru Investment Theses on CNH Industrial NV

Bill Nygren and David Herro Comments on CNH Industrial - Oct 08, 2015

Another large detractor from performance for the quarter was CNH Industrial (NYSE:CNHI) (Netherlands), a manufacturer of agricultural and construction equipment. CNH Industrial’s fiscal first-half revenue decline of 22% (-11% in constant currency) was larger than we estimated, as revenues dropped across segments. Earnings and margins also dropped more substantially than we expected. The core agriculture segment was the driving force behind these poor results as demand for tractors and combines fell across all geographies. In response, management reduced agriculture equipment production by 33% in the second quarter year-over-year. Conversely, the Iveco segment performed better than we anticipated, as revenue declined less than our forecasts (and gained 9% in constant currency) while margins expanded. Management updated full-year guidance with a reduced operating profit margin (to a range of 5.6%-6% owing to production cuts) and unchanged sales projections. Management continues to cut costs across the board, and in light of very challenging market conditions, we believe CNH Industrial’s leadership team is executing relatively well. Therefore, our investment thesis for this company remains intact.

From Biill Nygren and David Herro (Trades, Portfolio)'s Q3 Oakmark Global Select Fund commentary.

Check out Bill Nygren,David Herro latest stock trades

Top Ranked Articles about CNH Industrial NV

Heavy Equipment Manufacturers in a Dangerous Bubble Heavy equipment can be bought half-off, this does not portend good things for the stocks
It appears that heavy equipment manufacturers are in a bubble. I wrote four articles this week on Caterpillar (NYSE:CAT), John Deere (NYSE:DE), CNH Industrial (NYSE:CNHI) and Agco (NYSE:AGCO). In reality, my research shines a light on something that no one in the main stream financial press and research firms seems to be saying: the bottom has fallen out of the heavy equipment market and that these stocks are way overpriced. Read more...
Agco Could Face Challenges Farm equipment is selling for half off at auction
In the last few days, I have written articles explaining the risks that agricultural equipment manufacturers John Deere (NYSE:DE) and CHN Industrial (NYSE:CNHI) face. Today, I am going to add Agco (NYSE:AGCO) to that list. Read more...
CNH Industrial Could Face Problems Used tractors discounts in the industry do not portend good things
In the past, I have been very bullish on CNH Industrial (NYSE:CNHI), a manufacturer of tractors, heavy equipment and parts. Not only did we own the equity, but also its bond offerings. Upon researching the tractor market, we have noticed that much slightly used machinery is selling at half the price of brand new products. This does not portend good things for the agricultural equipment market. Read more...

Ratios

vs
industry
vs
history
Forward PE Ratio 23.20
CNHI's Forward PE Ratio is ranked lower than
64% of the 22 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 20.08 vs. CNHI: 23.20 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PB Ratio 2.91
CNHI's PB Ratio is ranked lower than
71% of the 175 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.73 vs. CNHI: 2.91 )
Ranked among companies with meaningful PB Ratio only.
CNHI' s PB Ratio Range Over the Past 10 Years
Min: 1.31  Med: 2.24 Max: 3.29
Current: 2.91
1.31
3.29
PS Ratio 0.55
CNHI's PS Ratio is ranked higher than
83% of the 169 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.02 vs. CNHI: 0.55 )
Ranked among companies with meaningful PS Ratio only.
CNHI' s PS Ratio Range Over the Past 10 Years
Min: 0.32  Med: 0.39 Max: 0.55
Current: 0.55
0.32
0.55
Price-to-Free-Cash-Flow 7.91
CNHI's Price-to-Free-Cash-Flow is ranked higher than
81% of the 84 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 17.34 vs. CNHI: 7.91 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
CNHI' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 2.99  Med: 7.61 Max: 76.49
Current: 7.91
2.99
76.49
Price-to-Operating-Cash-Flow 6.14
CNHI's Price-to-Operating-Cash-Flow is ranked higher than
82% of the 97 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 12.04 vs. CNHI: 6.14 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
CNHI' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 2.44  Med: 5.65 Max: 22.55
Current: 6.14
2.44
22.55
EV-to-EBIT 49.90
CNHI's EV-to-EBIT is ranked lower than
85% of the 168 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 20.04 vs. CNHI: 49.90 )
Ranked among companies with meaningful EV-to-EBIT only.
CNHI' s EV-to-EBIT Range Over the Past 10 Years
Min: 13.8  Med: 17.9 Max: 50
Current: 49.9
13.8
50
EV-to-EBITDA 24.55
CNHI's EV-to-EBITDA is ranked lower than
72% of the 173 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 13.34 vs. CNHI: 24.55 )
Ranked among companies with meaningful EV-to-EBITDA only.
CNHI' s EV-to-EBITDA Range Over the Past 10 Years
Min: 9.7  Med: 11.7 Max: 24.6
Current: 24.55
9.7
24.6
Current Ratio 5.84
CNHI's Current Ratio is ranked higher than
95% of the 124 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.75 vs. CNHI: 5.84 )
Ranked among companies with meaningful Current Ratio only.
CNHI' s Current Ratio Range Over the Past 10 Years
Min: 4.8  Med: 5.54 Max: 5.84
Current: 5.84
4.8
5.84
Quick Ratio 4.77
CNHI's Quick Ratio is ranked higher than
95% of the 124 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.16 vs. CNHI: 4.77 )
Ranked among companies with meaningful Quick Ratio only.
CNHI' s Quick Ratio Range Over the Past 10 Years
Min: 3.85  Med: 4.46 Max: 4.77
Current: 4.77
3.85
4.77
Days Inventory 121.45
CNHI's Days Inventory is ranked lower than
55% of the 128 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 111.21 vs. CNHI: 121.45 )
Ranked among companies with meaningful Days Inventory only.
CNHI' s Days Inventory Range Over the Past 10 Years
Min: 44.68  Med: 97.76 Max: 121.45
Current: 121.45
44.68
121.45
Days Sales Outstanding 9.64
CNHI's Days Sales Outstanding is ranked higher than
93% of the 107 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 74.09 vs. CNHI: 9.64 )
Ranked among companies with meaningful Days Sales Outstanding only.
CNHI' s Days Sales Outstanding Range Over the Past 10 Years
Min: 8.17  Med: 11.82 Max: 21.08
Current: 9.64
8.17
21.08
Days Payable 104.83
CNHI's Days Payable is ranked higher than
66% of the 99 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 74.24 vs. CNHI: 104.83 )
Ranked among companies with meaningful Days Payable only.
CNHI' s Days Payable Range Over the Past 10 Years
Min: 85.51  Med: 95.78 Max: 104.83
Current: 104.83
85.51
104.83

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 1.58
CNHI's Dividend Yield % is ranked lower than
58% of the 166 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.77 vs. CNHI: 1.58 )
Ranked among companies with meaningful Dividend Yield % only.
CNHI' s Dividend Yield % Range Over the Past 10 Years
Min: 1.45  Med: 2.78 Max: 3.67
Current: 1.58
1.45
3.67
Forward Dividend Yield % 1.24
CNHI's Forward Dividend Yield % is ranked lower than
63% of the 155 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.84 vs. CNHI: 1.24 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 1.58
CNHI's 5-Year Yield-on-Cost % is ranked lower than
61% of the 183 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 2.07 vs. CNHI: 1.58 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
CNHI' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 1.41  Med: 3.1 Max: 3.72
Current: 1.58
1.41
3.72
3-Year Average Share Buyback Ratio -0.30
CNHI's 3-Year Average Share Buyback Ratio is ranked higher than
56% of the 78 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: -0.70 vs. CNHI: -0.30 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
CNHI' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -7.5  Med: -3.7 Max: -0.3
Current: -0.3
-7.5
-0.3

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 10.70
CNHI's Price-to-Tangible-Book is ranked lower than
90% of the 169 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 2.08 vs. CNHI: 10.70 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
CNHI' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 6.09  Med: 8.36 Max: 10.7
Current: 10.7
6.09
10.7
Price-to-Median-PS-Value 1.40
CNHI's Price-to-Median-PS-Value is ranked lower than
58% of the 163 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.29 vs. CNHI: 1.40 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
CNHI' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.94  Med: 0.99 Max: 1.4
Current: 1.4
0.94
1.4
Earnings Yield (Greenblatt) % 2.00
CNHI's Earnings Yield (Greenblatt) % is ranked lower than
74% of the 183 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 4.60 vs. CNHI: 2.00 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
CNHI' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 2  Med: 5.6 Max: 7.3
Current: 2
2
7.3

More Statistics

Revenue (TTM) (Mil) $24,636
EPS (TTM) $ -0.16
Beta0.94
Short Percentage of Float1.99%
52-Week Range $6.03 - 9.91
Shares Outstanding (Mil)1,361.69

Analyst Estimate

Dec17 Dec18 Dec19
Revenue (Mil $) 23,943 24,871 26,321
EPS ($) 0.40 0.50 0.79
EPS without NRI ($) 0.40 0.50 0.79
EPS Growth Rate
(Future 3Y To 5Y Estimate)
11.72%
Dividends per Share ($) 0.15 0.15
» More Articles for CNHI

Headlines

Articles On GuruFocus.com
Multiple Companies Reach 52-Week Highs Feb 15 2017 
Used Tractors Are Selling at a Huge Discount Dec 08 2016 
Review of 10 Ideas on GuruFocus Nov 01 2016 
Ferrari Racing to the Top Oct 12 2016 
Deutsche Bank Initiates Coverage on Heavy Equipment Sep 08 2016 
Heavy Equipment Manufacturers in a Dangerous Bubble Aug 12 2016 
Agco Could Face Challenges Aug 10 2016 
CNH Industrial Could Face Problems Aug 09 2016 
John Deere Is for the Patient, Value Investor Aug 01 2016 
Agco: Darling of the Value Community Jul 20 2016 

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