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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 0.23
NYSE:CNHI's Cash to Debt is ranked lower than
67% of the 143 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 0.44 vs. NYSE:CNHI: 0.23 )
Ranked among companies with meaningful Cash to Debt only.
NYSE:CNHI' s Cash to Debt Range Over the Past 10 Years
Min: 0.14  Med: 0.19 Max: N/A
Current: 0.23
Equity to Asset 0.14
NYSE:CNHI's Equity to Asset is ranked lower than
94% of the 140 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 0.50 vs. NYSE:CNHI: 0.14 )
Ranked among companies with meaningful Equity to Asset only.
NYSE:CNHI' s Equity to Asset Range Over the Past 10 Years
Min: 0.08  Med: 0.1 Max: 0.14
Current: 0.14
0.08
0.14
Interest Coverage 2.73
NYSE:CNHI's Interest Coverage is ranked lower than
83% of the 122 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 37.40 vs. NYSE:CNHI: 2.73 )
Ranked among companies with meaningful Interest Coverage only.
NYSE:CNHI' s Interest Coverage Range Over the Past 10 Years
Min: 2.14  Med: 2.27 Max: 2.73
Current: 2.73
2.14
2.73
F-Score: 3
Z-Score: 1.47
M-Score: -2.72
WACC vs ROIC
3.37%
6.00%
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 : 4/10

vs
industry
vs
history
Operating margin (%) 11.31
NYSE:CNHI's Operating margin (%) is ranked higher than
84% of the 141 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 4.01 vs. NYSE:CNHI: 11.31 )
Ranked among companies with meaningful Operating margin (%) only.
NYSE:CNHI' s Operating margin (%) Range Over the Past 10 Years
Min: 8.48  Med: 8.77 Max: 11.31
Current: 11.31
8.48
11.31
Net-margin (%) -0.88
NYSE:CNHI's Net-margin (%) is ranked lower than
77% of the 141 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 2.68 vs. NYSE:CNHI: -0.88 )
Ranked among companies with meaningful Net-margin (%) only.
NYSE:CNHI' s Net-margin (%) Range Over the Past 10 Years
Min: -0.88  Med: 2 Max: 2.3
Current: -0.88
-0.88
2.3
ROE (%) -4.40
NYSE:CNHI's ROE (%) is ranked lower than
81% of the 139 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 4.13 vs. NYSE:CNHI: -4.40 )
Ranked among companies with meaningful ROE (%) only.
NYSE:CNHI' s ROE (%) Range Over the Past 10 Years
Min: -4.4  Med: 15.13 Max: 38.53
Current: -4.4
-4.4
38.53
ROA (%) -0.46
NYSE:CNHI's ROA (%) is ranked lower than
75% of the 144 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 2.04 vs. NYSE:CNHI: -0.46 )
Ranked among companies with meaningful ROA (%) only.
NYSE:CNHI' s ROA (%) Range Over the Past 10 Years
Min: -0.46  Med: 1.36 Max: 3.09
Current: -0.46
-0.46
3.09
ROC (Joel Greenblatt) (%) 4.37
NYSE:CNHI's ROC (Joel Greenblatt) (%) is ranked lower than
67% of the 144 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 7.69 vs. NYSE:CNHI: 4.37 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
NYSE:CNHI' s ROC (Joel Greenblatt) (%) Range Over the Past 10 Years
Min: 4.37  Med: 8.02 Max: 17.36
Current: 4.37
4.37
17.36
» NYSE:CNHI's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow
Oprt. Cash Flow & Net Income

» Details

Guru Trades

Q4 2015

CNHI Guru Trades in Q4 2015

Louis Moore Bacon 118,669 sh (New)
Mason Hawkins 40,974,982 sh (+17.74%)
HOTCHKIS & WILEY 36,301,692 sh (+2.27%)
Barrow, Hanley, Mewhinney & Strauss 25,718,324 sh (+0.37%)
Third Avenue Management 600,777 sh (-2.64%)
Mario Gabelli 6,334,749 sh (-2.64%)
Jim Simons 126,240 sh (-94.11%)
» More
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
» Details

Insider Trades

Latest Guru Trades with CNHI

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Business Description

Industry: Farm & Construction Machinery » Farm & Construction Equipment
Compare:OTCPK:PUTKY, OTCPK:HTCMY, NYSE:AGCO, NYSE:TEX, NYSE:JOY, OTCPK:KNCRF, OTCPK:KUBTF, NAS:ASTE, NYSE:LNN, NYSE:ALG, NYSE:MTW, NYSE:TWI, NAS:CMCO, NAS:GENC, OTCPK:AMMJ, OTCPK:SRNA, NAS:ARTW, OTCPK:KMTUY, NYSE:DE, NYSE:CAT » 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 NV was incorporated in November 2012 and became operational in September 2013 as a result of the mergers of Fiat Industrial S.p.A. and CNH Global N.V. The Company is a capital goods company engaged in the design, production, marketing, sale and financing of agricultural and construction equipment, trucks, commercial vehicles, buses and specialty vehicles for firefighting, defense and other uses, as well as engines and transmissions for those vehicles and engines for marine and power generation applications. It has industrial and financial services companies located in 44 countries and a commercial presence in approximately 190 countries around the world. The Company's segments are: Agricultural Equipment which designs, manufactures and distributes a full line of farm machinery and implements, including two-wheel and four-wheel drive tractors, crawler tractors (Quadtrac), combines, cotton pickers, grape and sugar cane harvesters, hay and forage equipment, planting and seeding equipment, soil preparation and cultivation implements and material handling equipment. Agricultural equipment is sold under the New Holland Agriculture and Case IH Agriculture brands, as well as the Steyr brand in Europe. Construction Equipment which designs, manufactures and distributes a full line of construction equipment including excavators, crawler dozers, graders, wheel loaders, backhoe loaders, skid steer loaders, telehandlers and trenchers. Construction equipment is sold under the New Holland Construction and Case Construction brands. Commercial Vehicles which designs, produces and sells light, medium and heavy vehicles for the transportation and distribution of goods through the Iveco brand, commuter buses and touring coaches through the Iveco Bus and Heuliez Bus brands, quarry and mining equipment through Iveco Astra, and firefighting vehicles through the Magirus brand and vehicles for civil defense and peace-keeping missions under the Iveco Defence Vehicles brand. Powertrainwhich designs, manufactures and offers propulsion and transmission systems for on- and off-road applications, as well as engines for marine application and power generation through FPT Industrial brand. Financial Services which offers financial services to dealers and customers. Financial Services provides and administers retail financing to customers for the purchase or lease of new and used industrial equipment or vehicles and other equipment sold by the Company's dealers. In addition, Financial Services provides wholesale financing to the Company's dealers. Wholesale financing consists of floor plan financing and allows the dealers to purchase and maintain a representative inventory of products.

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 P/E 19.88
CNHI's Forward P/E is ranked higher than
56% of the 16 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 21.60 vs. CNHI: 19.88 )
Ranked among companies with meaningful Forward P/E only.
N/A
P/B 1.81
CNHI's P/B is ranked lower than
60% of the 137 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.57 vs. CNHI: 1.81 )
Ranked among companies with meaningful P/B only.
CNHI' s P/B Range Over the Past 10 Years
Min: 1.31  Med: 2.21 Max: 3.3
Current: 1.81
1.31
3.3
P/S 0.49
CNHI's P/S is ranked higher than
77% of the 139 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.08 vs. CNHI: 0.49 )
Ranked among companies with meaningful P/S only.
CNHI' s P/S Range Over the Past 10 Years
Min: 0.32  Med: 0.39 Max: 0.49
Current: 0.49
0.32
0.49
PFCF 5.45
CNHI's PFCF is ranked higher than
80% of the 50 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 14.22 vs. CNHI: 5.45 )
Ranked among companies with meaningful PFCF only.
CNHI' s PFCF Range Over the Past 10 Years
Min: 3  Med: 9.41 Max: 76.49
Current: 5.45
3
76.49
POCF 4.44
CNHI's POCF is ranked higher than
83% of the 60 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 9.54 vs. CNHI: 4.44 )
Ranked among companies with meaningful POCF only.
CNHI' s POCF Range Over the Past 10 Years
Min: 2.44  Med: 5.06 Max: 22.49
Current: 4.44
2.44
22.49
EV-to-EBIT 26.25
CNHI's EV-to-EBIT is ranked lower than
64% of the 107 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 16.98 vs. CNHI: 26.25 )
Ranked among companies with meaningful EV-to-EBIT only.
CNHI' s EV-to-EBIT Range Over the Past 10 Years
Min: 13.8  Med: 17.4 Max: 26.3
Current: 26.25
13.8
26.3
EV-to-EBITDA 13.34
CNHI's EV-to-EBITDA is ranked higher than
52% of the 117 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 13.92 vs. CNHI: 13.34 )
Ranked among companies with meaningful EV-to-EBITDA only.
CNHI' s EV-to-EBITDA Range Over the Past 10 Years
Min: 9.7  Med: 11.5 Max: 13.4
Current: 13.34
9.7
13.4
Current Ratio 3.44
CNHI's Current Ratio is ranked higher than
90% of the 144 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.79 vs. CNHI: 3.44 )
Ranked among companies with meaningful Current Ratio only.
CNHI' s Current Ratio Range Over the Past 10 Years
Min: 0.91  Med: 4.95 Max: 5.56
Current: 3.44
0.91
5.56
Quick Ratio 2.75
CNHI's Quick Ratio is ranked higher than
90% of the 144 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.17 vs. CNHI: 2.75 )
Ranked among companies with meaningful Quick Ratio only.
CNHI' s Quick Ratio Range Over the Past 10 Years
Min: 0.71  Med: 3.89 Max: 4.56
Current: 2.75
0.71
4.56
Days Inventory 125.58
CNHI's Days Inventory is ranked lower than
57% of the 138 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 111.79 vs. CNHI: 125.58 )
Ranked among companies with meaningful Days Inventory only.
CNHI' s Days Inventory Range Over the Past 10 Years
Min: 44.68  Med: 96.8 Max: 125.58
Current: 125.58
44.68
125.58
Days Sales Outstanding 10.02
CNHI's Days Sales Outstanding is ranked higher than
94% of the 115 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 73.56 vs. CNHI: 10.02 )
Ranked among companies with meaningful Days Sales Outstanding only.
CNHI' s Days Sales Outstanding Range Over the Past 10 Years
Min: 8.17  Med: 13.26 Max: 21.08
Current: 10.02
8.17
21.08
Days Payable 99.78
CNHI's Days Payable is ranked higher than
68% of the 105 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 75.77 vs. CNHI: 99.78 )
Ranked among companies with meaningful Days Payable only.
CNHI' s Days Payable Range Over the Past 10 Years
Min: 85.51  Med: 93.49 Max: 101.3
Current: 99.78
85.51
101.3

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.75
CNHI's Dividend Yield is ranked higher than
53% of the 171 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.64 vs. CNHI: 1.75 )
Ranked among companies with meaningful Dividend Yield only.
CNHI' s Dividend Yield Range Over the Past 10 Years
Min: 1.63  Med: 2.96 Max: 3.67
Current: 1.75
1.63
3.67
Forward Dividend Yield 1.76
CNHI's Forward Dividend Yield is ranked lower than
53% of the 158 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.82 vs. CNHI: 1.76 )
Ranked among companies with meaningful Forward Dividend Yield only.
N/A
Yield on cost (5-Year) 1.75
CNHI's Yield on cost (5-Year) is ranked lower than
65% of the 182 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 2.82 vs. CNHI: 1.75 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
CNHI' s Yield on cost (5-Year) Range Over the Past 10 Years
Min: 1.61  Med: 2.97 Max: 3.67
Current: 1.75
1.61
3.67

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 10.81
CNHI's Price/Tangible Book is ranked lower than
93% of the 134 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.93 vs. CNHI: 10.81 )
Ranked among companies with meaningful Price/Tangible Book only.
CNHI' s Price/Tangible Book Range Over the Past 10 Years
Min: 5.8  Med: 8.23 Max: 10.81
Current: 10.81
5.8
10.81
Price/Median PS Value 1.26
CNHI's Price/Median PS Value is ranked lower than
52% of the 122 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.26 vs. CNHI: 1.26 )
Ranked among companies with meaningful Price/Median PS Value only.
CNHI' s Price/Median PS Value Range Over the Past 10 Years
Min: 0.85  Med: 1.01 Max: 1.26
Current: 1.26
0.85
1.26
Earnings Yield (Greenblatt) (%) 3.80
CNHI's Earnings Yield (Greenblatt) (%) is ranked higher than
50% of the 142 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 3.80 vs. CNHI: 3.80 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
CNHI' s Earnings Yield (Greenblatt) (%) Range Over the Past 10 Years
Min: 3.8  Med: 5.7 Max: 7.3
Current: 3.8
3.8
7.3

More Statistics

Revenue (TTM) (Mil) $24,778
EPS (TTM) $ -0.15
Beta0.87
Short Percentage of Float2.71%
52-Week Range $5.67 - 8.67
Shares Outstanding (Mil)1,362.91

Analyst Estimate

Dec16 Dec17 Dec18 Dec19
Revenue (Mil $) 23,781 23,347 22,353 20,665
EPS ($) 0.36 0.35 0.31 0.18
EPS w/o NRI ($) 0.36 0.35 0.31 0.18
EPS Growth Rate
(3Y to 5Y Estimate)
17.32%
Dividends Per Share ($) 0.22 0.15
» More Articles for CNHI

Headlines

Articles On GuruFocus.com
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 
Bill Nygren and David Herro Comments on CNH Industrial Oct 08 2015 
Bill Nygren and David Herro Q3 Commentary on Oakmark Global Select Fund Oct 07 2015 

More From Other Websites
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Deere: A Bummer of an Upgrade Nov 28 2016
Deere’s Financial Unit Continues to Bleed from Used Equipment Nov 28 2016
CNH Industrial upgraded by Piper Jaffray Nov 28 2016
Is WestRock Co (WRK) A Good Stock to Buy? Nov 26 2016
Total System Services, Inc. (TSS): Are Hedge Funds Right About This Stock? Nov 25 2016
Iveco Madrid plant wins Kaizen Institute Excellence Award Nov 25 2016
Case IH and New Holland Agriculture announce innovation awards ahead of SIMA 2017 Nov 24 2016
CNH Industrial announces cash tender offer for up to $400 million of senior notes due 2017 issued by... Nov 22 2016
CNH Industrial announces cash tender offer for up to $400 million of senior notes due 2017 issued by... Nov 22 2016
Deere’s Pricing Multiple and Year-to-Date Returns Nov 17 2016
What Does the Market Expect from Deere’s Fiscal 4Q16 Earnings? Nov 15 2016
Fiat Chrysler Automobiles and CNH Industrial's commitment for Africa Nov 15 2016
CNH Industrial’s continued efforts to support to the earthquake-stricken areas in central Italy Nov 14 2016
Iveco supplies 109 natural gas vehicles to Madrid Nov 10 2016

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