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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 : 6/10

vs
industry
vs
history
Cash to Debt 0.36
TWI's Cash to Debt is ranked lower than
58% of the 133 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 0.50 vs. TWI: 0.36 )
Ranked among companies with meaningful Cash to Debt only.
TWI' s 10-Year Cash to Debt Range
Min: 0  Med: 0.11 Max: 0.74
Current: 0.36
0
0.74
Equity to Asset 0.36
TWI's Equity to Asset is ranked lower than
77% of the 123 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 0.49 vs. TWI: 0.36 )
Ranked among companies with meaningful Equity to Asset only.
TWI' s 10-Year Equity to Asset Range
Min: 0.21  Med: 0.38 Max: 0.54
Current: 0.36
0.21
0.54
F-Score: 3
Z-Score: 1.82
M-Score: -3.05
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 (%) -5.52
TWI's Operating margin (%) is ranked lower than
87% of the 133 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 5.39 vs. TWI: -5.52 )
Ranked among companies with meaningful Operating margin (%) only.
TWI' s 10-Year Operating margin (%) Range
Min: -7.32  Med: 3.38 Max: 11.71
Current: -5.52
-7.32
11.71
Net-margin (%) -4.68
TWI's Net-margin (%) is ranked lower than
89% of the 133 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 3.39 vs. TWI: -4.68 )
Ranked among companies with meaningful Net-margin (%) only.
TWI' s 10-Year Net-margin (%) Range
Min: -7.75  Med: 1.04 Max: 6.1
Current: -4.68
-7.75
6.1
ROE (%) -13.31
TWI's ROE (%) is ranked lower than
92% of the 134 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 6.38 vs. TWI: -13.31 )
Ranked among companies with meaningful ROE (%) only.
TWI' s 10-Year ROE (%) Range
Min: -28.64  Med: 2.90 Max: 21.41
Current: -13.31
-28.64
21.41
ROA (%) -5.00
TWI's ROA (%) is ranked lower than
89% of the 136 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 3.07 vs. TWI: -5.00 )
Ranked among companies with meaningful ROA (%) only.
TWI' s 10-Year ROA (%) Range
Min: -6.95  Med: 1.00 Max: 7.88
Current: -5
-6.95
7.88
ROC (Joel Greenblatt) (%) -10.90
TWI's ROC (Joel Greenblatt) (%) is ranked lower than
89% of the 136 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 8.90 vs. TWI: -10.90 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
TWI' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -11.38  Med: 7.21 Max: 38.81
Current: -10.9
-11.38
38.81
Revenue Growth (3Y)(%) 8.20
TWI's Revenue Growth (3Y)(%) is ranked higher than
70% of the 122 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 2.10 vs. TWI: 8.20 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
TWI' s 10-Year Revenue Growth (3Y)(%) Range
Min: -10.2  Med: 4.90 Max: 16.7
Current: 8.2
-10.2
16.7
» TWI's 10-Y Financials

Financials


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

» Details

Guru Trades

Q2 2014

TWI Guru Trades in Q2 2014

Michael Price 300,000 sh (+270.37%)
First Pacific Advisors 2,955,900 sh (+90.53%)
FPA Capital Fund 1,269,300 sh (+72.79%)
Richard Snow 2,319,080 sh (+17.24%)
John Buckingham 282,770 sh (+1.32%)
Robert Bruce 425,000 sh (unchged)
Zeke Ashton 45,600 sh (unchged)
Private Capital 384,500 sh (-2.83%)
John Keeley 79,060 sh (-6.28%)
» More
Q3 2014

TWI Guru Trades in Q3 2014

Jim Simons 64,200 sh (New)
Steven Cohen 243,400 sh (New)
First Pacific Advisors 3,690,500 sh (+24.85%)
FPA Capital Fund 1,566,200 sh (+23.39%)
Richard Snow 2,444,909 sh (+5.43%)
Richard Snow 2,751,395 sh (+39.09%)
Michael Price 300,000 sh (unchged)
Robert Bruce 425,000 sh (unchged)
John Keeley Sold Out
Zeke Ashton Sold Out
Private Capital 370,290 sh (-3.70%)
John Buckingham 271,199 sh (-4.09%)
» More
Q4 2014

TWI Guru Trades in Q4 2014

Jim Simons 336,200 sh (+423.68%)
Richard Snow 2,624,089 sh (+7.33%)
Michael Price Sold Out
Steven Cohen Sold Out
Private Capital 323,140 sh (-12.73%)
Robert Bruce 300,000 sh (-29.41%)
John Buckingham 172,988 sh (-36.21%)
FPA Capital Fund 904,855 sh (-42.23%)
First Pacific Advisors 1,986,355 sh (-46.18%)
» More
Q1 2015

TWI Guru Trades in Q1 2015

Richard Snow 3,081,292 sh (+17.42%)
Richard Snow 3,601,534 sh (+47.31%)
Robert Bruce 300,000 sh (unchged)
John Buckingham Sold Out
First Pacific Advisors Sold Out
FPA Capital Fund Sold Out
Private Capital 319,640 sh (-1.08%)
Jim Simons 315,200 sh (-6.25%)
» More
» Details

Insider Trades

Latest Guru Trades with TWI

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Guru Investment Theses on Titan International Inc

FPA Capital Fund Comments on Titan International - Jul 23, 2014

Among a few stocks that had negative returns in the quarter, Veeco Instruments (VECO) and Titan International (TWI) are also among the smaller positions in the portfolio. Titan, which declined 11.4% in the quarter and will be discussed later in this letter, is a relatively new stock in the portfolio and one that we added to as the share price declined.

Among the stocks that we added to in the quarter were Atwood Oceanics (ATW) and Titan International (TWI).

As mentioned above, Titan declined nearly 12% in the quarter and we added to the position as the stock weakened. As you may recall, we initiated the position in TWI in the fourth quarter of 2013 in the mid- teens. Despite our additional TWI purchases, we do not yet own a full position in the stock. However, we have plenty of capacity to take the stock to a normal full position, which is 3%, but this assumes the company earns the right to have more of your capital allocated to the position.

The primary reason why TWI shares sold off recently is that the wheel and tire markets for large construction and mining equipment remain depressed. Investors had hoped that the off-road, large construction equipment and mining business would see some acceleration after the very cold winter season, but that does not appear to be the case. Tire inventory levels for large, off-road equipment were too high for dealers to be aggressive and purchase tires en masse earlier this year. However, there is some recent evidence that much of the excess tire inventory has been reduced to levels that now support some restocking.

Our investment thesis for TWI is not predicated on the wheel and tire market for large, off-road equipment to come roaring back to levels experienced before the financial crisis. Rather we believe the assets TWI has accumulated over the past decade can be managed more efficiently and, therefore, profit margins can improve without a huge increase in revenues. We recently visited one of TWI’s Midwest tire facilities and came away with the impression that simply operating the existing production equipment more efficiently would yield substantial improvements in the plant’s profitability.

Furthermore, we believe most of TWI’s operating plants have ample room for productivity enhancements and, thus, profit improvement. It is encouraging that the company has promoted Paul Reitz as the firm’s President, and that Mr. Reitz has replaced senior plant managers with more capable people. However, more work needs to be done in order to maximize the profit potential the company’s assets are capable of generating for shareholders.

From FPA Capital Fund (Trades, Portfolio)’s Second Quarter 2014 Commentary.

Check out FPA Capital Fund latest stock trades

Top Ranked Articles about Titan International Inc

5-year lows: Titan International Inc, Weight Watchers International Inc, Hugoton Royalty Trust and Dynamic Materials Corp
According to GuruFocus list of 5-year lows, these Guru stocks have reached their 5-year lows: Titan International Inc (NYSE:TWI), Weight Watchers International Inc (NYSE:WTW), Hugoton Royalty Trust (NYSE:HGT) and Dynamic Materials Corp (NASDAQ:BOOM). Read more...
Titan International: A Cyclical Business Trading Near Its Trough

Ratios

vs
industry
vs
history
Forward P/E 92.59
TWI's Forward P/E is ranked lower than
96% of the 53 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 12.92 vs. TWI: 92.59 )
Ranked among companies with meaningful Forward P/E only.
N/A
P/B 1.01
TWI's P/B is ranked higher than
75% of the 133 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.60 vs. TWI: 1.01 )
Ranked among companies with meaningful P/B only.
TWI' s 10-Year P/B Range
Min: 0.41  Med: 1.86 Max: 4.15
Current: 1.01
0.41
4.15
P/S 0.28
TWI's P/S is ranked higher than
92% of the 135 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.01 vs. TWI: 0.28 )
Ranked among companies with meaningful P/S only.
TWI' s 10-Year P/S Range
Min: 0.11  Med: 0.63 Max: 1.39
Current: 0.28
0.11
1.39
PFCF 13.98
TWI's PFCF is ranked higher than
70% of the 60 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 21.52 vs. TWI: 13.98 )
Ranked among companies with meaningful PFCF only.
TWI' s 10-Year PFCF Range
Min: 5.57  Med: 24.65 Max: 1226.67
Current: 13.98
5.57
1226.67
POCF 5.64
TWI's POCF is ranked higher than
83% of the 84 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 18.37 vs. TWI: 5.64 )
Ranked among companies with meaningful POCF only.
TWI' s 10-Year POCF Range
Min: 3.67  Med: 11.52 Max: 1551.2
Current: 5.64
3.67
1551.2
Shiller P/E 45.15
TWI's Shiller P/E is ranked lower than
82% of the 82 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 19.23 vs. TWI: 45.15 )
Ranked among companies with meaningful Shiller P/E only.
TWI' s 10-Year Shiller P/E Range
Min: 26.07  Med: 59.74 Max: 904
Current: 45.15
26.07
904
Current Ratio 2.63
TWI's Current Ratio is ranked higher than
78% of the 125 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.78 vs. TWI: 2.63 )
Ranked among companies with meaningful Current Ratio only.
TWI' s 10-Year Current Ratio Range
Min: 1.7  Med: 2.83 Max: 6.35
Current: 2.63
1.7
6.35
Quick Ratio 1.66
TWI's Quick Ratio is ranked higher than
74% of the 125 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.08 vs. TWI: 1.66 )
Ranked among companies with meaningful Quick Ratio only.
TWI' s 10-Year Quick Ratio Range
Min: 1.06  Med: 1.69 Max: 4.78
Current: 1.66
1.06
4.78
Days Inventory 80.41
TWI's Days Inventory is ranked higher than
73% of the 131 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 120.33 vs. TWI: 80.41 )
Ranked among companies with meaningful Days Inventory only.
TWI' s 10-Year Days Inventory Range
Min: 46.37  Med: 83.47 Max: 115.25
Current: 80.41
46.37
115.25
Days Sales Outstanding 49.70
TWI's Days Sales Outstanding is ranked higher than
75% of the 110 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 88.27 vs. TWI: 49.70 )
Ranked among companies with meaningful Days Sales Outstanding only.
TWI' s 10-Year Days Sales Outstanding Range
Min: 33.87  Med: 50.76 Max: 65.13
Current: 49.7
33.87
65.13

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 0.22
TWI's Dividend Yield is ranked lower than
96% of the 161 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.57 vs. TWI: 0.22 )
Ranked among companies with meaningful Dividend Yield only.
TWI' s 10-Year Dividend Yield Range
Min: 0.04  Med: 0.12 Max: 0.57
Current: 0.22
0.04
0.57
Yield on cost (5-Year) 0.22
TWI's Yield on cost (5-Year) is ranked lower than
99% of the 161 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 2.49 vs. TWI: 0.22 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
TWI' s 10-Year Yield on cost (5-Year) Range
Min: 0.04  Med: 0.12 Max: 0.57
Current: 0.22
0.04
0.57
Share Buyback Rate -0.20
TWI's Share Buyback Rate is ranked higher than
63% of the 87 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: -1.00 vs. TWI: -0.20 )
Ranked among companies with meaningful Share Buyback Rate only.
TWI' s 10-Year Share Buyback Rate Range
Min: 8.7  Med: -0.50 Max: -19.5
Current: -0.2

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 1.01
TWI's Price/Tangible Book is ranked higher than
74% of the 129 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.99 vs. TWI: 1.01 )
Ranked among companies with meaningful Price/Tangible Book only.
TWI' s 10-Year Price/Tangible Book Range
Min: 0.15  Med: 1.62 Max: 3.34
Current: 1.01
0.15
3.34
Price/Projected FCF 0.61
TWI's Price/Projected FCF is ranked higher than
91% of the 74 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.47 vs. TWI: 0.61 )
Ranked among companies with meaningful Price/Projected FCF only.
TWI' s 10-Year Price/Projected FCF Range
Min: 0.61  Med: 2.51 Max: 14.55
Current: 0.61
0.61
14.55
Price/Median PS Value 0.45
TWI's Price/Median PS Value is ranked higher than
94% of the 124 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 1.20 vs. TWI: 0.45 )
Ranked among companies with meaningful Price/Median PS Value only.
TWI' s 10-Year Price/Median PS Value Range
Min: 0.06  Med: 0.83 Max: 1.9
Current: 0.45
0.06
1.9
Earnings Yield (Greenblatt) (%) -12.42
TWI's Earnings Yield (Greenblatt) (%) is ranked lower than
96% of the 135 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 4.80 vs. TWI: -12.42 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
TWI' s 10-Year Earnings Yield (Greenblatt) (%) Range
Min: -13.13  Med: 6.30 Max: 22.6
Current: -12.42
-13.13
22.6
Forward Rate of Return (Yacktman) (%) 46.23
TWI's Forward Rate of Return (Yacktman) (%) is ranked higher than
89% of the 75 Companies
in the Global Farm & Construction Equipment industry.

( Industry Median: 8.67 vs. TWI: 46.23 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
TWI' s 10-Year Forward Rate of Return (Yacktman) (%) Range
Min: -15.8  Med: 1.10 Max: 69.2
Current: 46.23
-15.8
69.2

Business Description

Industry: Farm & Construction Machinery » Farm & Construction Equipment
Compare:CSL, CTTAY, BRDCY, MGDDY, SEH » details
Traded in other countries:TZ4.Germany,
Titan International Inc was founded in 1890 and incorporated in 1983 in Quincy, Illinois. The Company is engaged in the manufacture and sale of wheels, tires and undercarriages for use in the agricultural, earthmoving and construction and consumer markets. The Company has three operating segments: - Agricultural, Earthmoving and Construction and Consumer. The Agricultural segment includes agricultural rims, wheels, tires and undercarriage systems and components manufactured for use on agricultural and forestry equipment, including tractors, combines, skidders, plows, planters and irrigation equipment, and are sold directly to OEMs and to the aftermarket through independent distributors, equipment dealers and company's own distribution centers. The wheels and rims range in diameter from 9 to 54 inches. Its agricultural tires range from approximately 1 foot to approximately 7 feet in outside diameter and from 5 to 49 inches in width. The Earthmoving/Construction segment manufactures and sells rims, wheels, tires and undercarriage systems and components for OTR earthmoving, mining, military and construction equipment, including 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 with the wheels ranging in diameter from 20 to 63 inches and in weight from 125 pounds to 7,000 pounds and range from approximately 3 feet to approximately 13 feet in outside diameter and in weight from 50 pounds to 12,500 pounds. The Consumer segment manufactures and sells bias truck tires in Latin America, and provides wheels and tires and assembles brakes, actuators and components for the domestic boat, recreational and utility trailer markets. It also offers select products for ATVs, turf, and golf cart applications. The Company distributes wheels, tires, wheel and tire assemblies, and undercarriage systems directly to OEMs and aftermarket customers. The Company's major competitors include Carlisle Companies Incorporated, GKN Wheels, Ltd., Topy Industries, Ltd., Bridgestone/Firestone, Carlisle Companies Incorporated, Michelin, Pirelli, Berco and Caterpillar and certain other foreign competitors.
» More Articles for TWI

Headlines

Articles On GuruFocus.com
Richard Snow Increases Stakes in Seven Positions Apr 24 2015 
Richard Snow Increased Stakes in High Yield Companies During Q1 Apr 22 2015 
FPA Capital Fund Buys Helmerich & Payne in Q1 Apr 16 2015 
5-year lows: Titan International Inc, Weight Watchers International Inc, Hugoton Royalty Trust and D Apr 06 2015 
Titan International: A Cyclical Business Trading Near Its Trough Oct 08 2014 
Titan International: 3 Different Insiders Have Purchased Shares This Year Aug 05 2014 
FPA Capital Fund Comments on Titan International Jul 23 2014 
FPA Capital Fund Second Quarter 2014 Commentary Jul 23 2014 
Guru Richard Snow Ups Stake in Titan International Jul 09 2014 
Scott Black’s Barron’s Roundtable Stock Picks Report Card Jan 23 2014 

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