Titan International

TWI

Agricultural - Machinery · Industrials

Price

$7.66

-0.18 (-2.30%)

Market Cap

$493.1M

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+1.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 62.7M (2021) → 63.7M (2025)

Titan International makes large wheels and tires for heavy equipment. Their products go on farm tractors, construction machines, and mining vehicles. They are one of the few companies in North America that manufactures both the wheel and the tire together as a complete unit.

Titan earns money by selling these wheel and tire assemblies directly to equipment manufacturers like CNH Industrial and AGCO, as well as to dealers and end users as replacement parts. The company operates factories in the United States, Europe, and Latin America, generating roughly $1.7 billion in annual revenue. Their main competitive advantage is their ability to supply large, specialized wheels and tires that most general tire companies do not make. The biggest risk Titan faces is that its business is closely tied to the farm equipment cycle — when farmers cut spending on new machinery, demand for Titan's products drops quickly, which helps explain the company's thin profit margins today.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+2.9% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

<−1,000% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$18M/ year

↑ Rising (+11% vs prior year)

1.0% of revenue

Below sector average (4%)

R&D investment increasing — building for the future

Insider Activity

19.8%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~9 months

$171M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Titan International has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

14.1%

Thin — 14.1% gross margin

Operating Margin

2.2%

Thin — 2.2% operating margin

ROCE

1.0%

Weak — 1.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-0.6%

Shrinking sales (-0.6% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-1.7%

Burning cash (-1.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

1.27

Elevated debt (1.27)

Interest Cover

0.69x

Dangerous — barely covers interest (0.7x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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