CNH (CNH Industrial NV) Operating Income: $2,640 Mil (TTM As of Mar. 2026)


CNH CNH Industrial NV CNH
67 GF Score
Price $10.87
GF Value $9.98
Valuation Fairly Valued
! 7 Warning Signs
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What is CNH Industrial NV Operating Income?

CNH Industrial NV CNH +1.40% 67 Operating Income is $2,640 Mil as of Mar. 2026. GuruFocus rates CNH with a GF Score™ of 67/100 and a GF Value™ of $9.98 (Fairly Valued). The stock has 7 warning signs investors should review.

CNH Industrial NV's Operating Income for the three months ended in Mar. 2026 was $524 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $2,640 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. CNH Industrial NV's Operating Income for the three months ended in Mar. 2026 was $524 Mil. CNH Industrial NV's Revenue for the three months ended in Mar. 2026 was $3,826 Mil. Therefore, CNH Industrial NV's Operating Margin % for the quarter that ended in Mar. 2026 was 13.70%.

Good Sign:

CNH Industrial NV operating margin is expanding. Margin expansion is usually a good sign.

CNH Industrial NV's 5-Year average Growth Rate for Operating Margin % was 4.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CNH Industrial NV's annualized ROC % for the quarter that ended in Mar. 2026 was 3.96%. CNH Industrial NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 5.34%.


CNH Industrial NV  (NYSE:CNH) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

CNH Industrial NV's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=2096 * ( 1 - 30.77% )/( (36665 + 36708)/ 2 )
=1451.0608/36686.5
=3.96 %

where

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

CNH Industrial NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1512/( ( (3772 + max(24548, 0)) + (3787 + max(24547, 0)) )/ 2 )
=1512/( ( 28320 + 28334 )/ 2 )
=1512/28327
=5.34 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(23331 + 4651 + 651) - (3504 + 122 + 459)
=24548

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(22836 + 5234 + 735) - (3726 + 128 + 404)
=24547

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

CNH Industrial NV's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=524/3826
=13.70 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


CNH Industrial NV Operating Income Related Terms


CNH Industrial NV Operating Income Historical Data

* Premium members only.

The historical data trend for CNH Industrial NV's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

CNH Industrial NV Operating Income Chart

CNH Industrial NV Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3,291.00 4,136.00 4,945.00 3,850.00 2,805.00

CNH Industrial NV Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 689.00 823.00 574.00 719.00 524.00
CNH
67GF Score
CNH Industrial NV CNH
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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CNH Industrial NV Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,640 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $2,640 Mil mean?
CNH Industrial NV (CNH) has a Operating Income of $2,640 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on CNH Industrial NV and its competitors.
Is CNH Industrial NV's Operating Income too high?
CNH Industrial NV's current Operating Income is $2,640 Mil. Overall, CNH Industrial NV has a GF Score™ of 67/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CNH Industrial NV's Operating Income compare to OSK and AGCO?
CNH Industrial NV's Operating Income of $2,640 Mil can be compared against companies in the Farm & Heavy Construction Machinery industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Farm & Heavy Construction Machinery company?
A good Operating Income depends on the Farm & Heavy Construction Machinery industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on CNH Industrial NV and its competitors. CNH Industrial NV's current Operating Income is $2,640 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CNH Industrial NV stock overvalued right now?
Based on GuruFocus' analysis, CNH Industrial NV (CNH) is currently considered Fairly Valued. The stock's GF Value™ is $9.98, compared to a current price of $10.87 — trading 8.9% above its estimated fair value. The current Operating Income is $2,640 Mil. CNH Industrial NV's overall GF Score™ is 67/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For CNH Industrial NV (CNH), the current Operating Income is $2,640 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is CNH Industrial NV (CNH) Overvalued in 2026?

Based on GuruFocus' analysis, CNH Industrial NV stock appears to be overvalued. The current stock price of $10.87 is trading 8.9% above its estimated GF Value™ of $9.98. GuruFocus considers CNH Industrial NV to be Fairly Valued.

Key valuation signals for CNH:

  • Operating Income: $2,640 Mil
  • GF Value™: $9.98 vs. price of $10.87 (8.9% above fair value)
  • GF Score™: 67/100 with 7 warning signs

No single metric tells the full story. See the CNH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CNH Industrial NV Business Description

Address Cranes Farm Road, Basildon, Essex, London, GBR, SS14 3AD
CNH Industrial is the world's second largest manufacturer of agricultural machinery (82% of industrial net sales) as well as a major player in construction equipment (18% of industrial net sales). Its Case and New Holland brands have served farmers for generations. Geographically, agricultural sales are 40% in North America, 32% in Europe, the Middle East, and Africa, 18% in South America, and 10% in Asia-Pacific. CNH's products are available through a robust independent dealer network, which includes over 2,600 dealer and distribution locations and reach into 164 countries. The construction business leverages over 400 dealers. The company's captive finance arm provides retail financing to its customers and wholesale financing to dealers to maintain inventory, thereby supporting sales.
67GF Score

Get the complete analysis for CNH

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$10.87
Price
$9.98
GF Value