CNH
CNH Industrial N.V.
CNH's outlook is improving despite an expensive valuation.
VRT
Vertiv Holdings Co
VRT has the edge over CNH overall, supported by stronger valuation and stronger modeled upside.
CNH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Stable | |
| Weak |
CNH's revenue, profitability and cash flow are currently stable, but its balance sheet is weak.
VRT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
VRT's revenue, profitability, cash flow and balance sheet are all currently strong.
CNH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.9x | $1.52 | -87% |
| Fair | 11x | $2.37 | -80% |
| Forward | 21x | $11.97 | — |
| Expensive | 25x | $5.49 | -54% |
| Current | 54x | $11.97 | — |
Historical ranges are pointers, not guarantees.
CNH's PE is in its expensive range at 54x. If earnings grow as analysts expect, today's price would be 21x next year's earnings.
VRT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $210 | — |
| Current | 39x | $210 | — |
| Cheap | 58x | $308 | +47% |
| Fair | 72x | $383 | +83% |
| Expensive | 88x | $472 | +125% |
Historical ranges are pointers, not guarantees.
VRT has the edge over CNH in the historical PE scenario, which offers more potential upside but is not a forecast.
CNH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect CNH's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
VRT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
VRT has the edge over CNH on the outlook, with more favorable revenue expectations.
CNH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.56 | +153% |
| Q3 2026 | $0.22 | -49% |
| Q2 2026 | $0.26 | -57% |
| Q1 2026 | $0.32 | -59% |
| Q4 2025 | $0.41 | -59% |
| Q3 2025 | $0.43 | -68% |
| Q2 2025 | $0.61 | -60% |
| Q1 2025 | $0.78 | -55% |
| Q4 2024 | $0.99 | -44% |
CNH's earnings per share have fallen from their peak: $0.22 over the past year, against $1.76 in late 2023.
VRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.14 | +71% |
| Q3 2026 | $5.35 | +102% |
| Q2 2026 | $4.42 | +111% |
| Q1 2026 | $3.98 | +131% |
| Q4 2025 | $3.41 | +166% |
| Q3 2025 | $2.65 | +75% |
| Q2 2025 | $2.09 | +62% |
| Q1 2025 | $1.72 | +64% |
| Q4 2024 | $1.28 | +7.6% |
VRT has the edge over CNH on earnings, with more consistent year-over-year improvement.
CNH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.4B | -1% |
| Q2 2026 | $4.8B | +2% |
| Q1 2026 | $3.8B | -0.1% |
| Q4 2025 | $5.2B | +5.8% |
| Q3 2025 | $4.4B | -5.5% |
| Q2 2025 | $4.7B | -14% |
| Q1 2025 | $3.8B | -21% |
| Q4 2024 | $4.9B | -28% |
CNH's revenue fell from its 2021 peak and has held roughly level since: $4.4B last quarter, down 1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.2% | +4 points |
| Q2 2026 | 3.6% | -2.3 points |
| Q1 2026 | 0.3% | -3.9 points |
| Q4 2025 | 2.6% | -2.4 points |
| Q3 2025 | 1.2% | -7.1 points |
| Q2 2025 | 5.8% | -3.9 points |
| Q1 2025 | 4.2% | -5.7 points |
| Q4 2024 | 4.9% | -3.6 points |
CNH's operating margin was 5.2% last quarter, up 4 points from the same quarter a year ago.
VRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.3B | +61% |
| Q2 2026 | $3.3B | +24% |
| Q1 2026 | $2.6B | +30% |
| Q4 2025 | $2.9B | +23% |
| Q3 2025 | $2.7B | +29% |
| Q2 2025 | $2.6B | +35% |
| Q1 2025 | $2B | +24% |
| Q4 2024 | $2.3B | +26% |
VRT has the edge over CNH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +3.5 points |
| Q2 2026 | 19% | +2.7 points |
| Q1 2026 | 17% | +2.3 points |
| Q4 2025 | 20% | +0.7 points |
| Q3 2025 | 19% | +1.4 points |
| Q2 2025 | 17% | -0.4 points |
| Q1 2025 | 14% | +1.9 points |
| Q4 2024 | 19% | +4.2 points |
VRT has the edge over CNH on profitability, with a higher operating margin.
CNH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $686M | +4.1% |
| Q2 2026 | $145M | -81% |
| Q1 2026 | $35M | -78% |
| Q4 2025 | $945M | -44% |
| Q3 2025 | $659M | -17% |
| Q2 2025 | $772M | +104% |
| Q1 2025 | $162M | +$1.1B |
| Q4 2024 | $1.7B | +12% |
CNH still generates free cash flow, though less than at its 2020 peak: $1.8B over the past year.
VRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $654.9M | +41% |
| Q2 2026 | $926.5M | +233% |
| Q1 2026 | $654.2M | +145% |
| Q4 2025 | $885.6M | +143% |
| Q3 2025 | $463.5M | +36% |
| Q2 2025 | $277.9M | -19% |
| Q1 2025 | $266.8M | +162% |
| Q4 2024 | $364.5M | +18% |
VRT has the edge over CNH on cash flow, with more consistent year-over-year improvement.
CNH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -2M shares |
| 1 year | -1.1% | -14M shares |
| 3 years | -8.3% | -112M shares |
| 5 years | -9% | -122M shares |
| Available history | -13% | -186M shares |
CNH has the edge over VRT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2022 | $20M |
| Q1 2022 | $20M |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
VRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -64.9K shares |
| 1 year | +0.4% | +1.8M shares |
| 3 years | +1.1% | +4.4M shares |
| 5 years | +10% | +36M shares |
| Available history | +63% | +152M shares |
VRT has 393M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $599.9M |
CNH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2022 | 5.4x | High |
| Q1 2022 | 5.0x | High |
| Q4 2021 | 7.0x | High |
| Q3 2021 | 3.9x | Elevated |
| Q2 2021 | 4.0x | Elevated |
| Q1 2021 | 5.7x | High |
| Q4 2020 | 11.0x | High |
| Q3 2020 | 7.6x | High |
CNH's net debt is about 5.4 years of its operating earnings (EBITDA), up from 4.0 years a year ago.
VRT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 1.0x | Healthy |
VRT has more cash than debt.
CNH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.0 | Neutral |
| Stochastic | 39.1 | Neutral |
CNH's weekly RSI is 52 (neutral) and its Stochastic is 39 (neutral).
VRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 26.4 | Neutral |
VRT's weekly RSI is 43 (neutral) and its Stochastic is 26 (neutral).
CNH PE vs Industrials Sector
| Metric | CNH | Sector median | Relative |
|---|---|---|---|
| PE | 54x | 24x | 126% above |
| PE % | 96 | 58 | 38 pts above |
CNH is trading at 54x earnings, a 126% premium to the Industrials sector's median of 24x.
VRT PE vs Industrials Sector
| Metric | VRT | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 24x | 63% above |
| PE % | 3 | 58 | 55 pts below |
VRT has the edge over CNH on valuation relative to its sector.
CNH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $12.0 | 0.6% below |
| 20 week MA | $11.8 | 1.5% above |
| 50 week MA | $11.2 | 7.4% above |
| 100 week MA | $11.5 | 3.8% above |
| 200 week MA | $12.0 | 0.2% below |
CNH has the edge over VRT on trend strength, trading above more of its moving averages.
VRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $221.8 | 5.5% below |
| 20 week MA | $254.4 | 18% below |
| 50 week MA | $253.9 | 17% below |
| 100 week MA | $189.1 | 11% above |
| 200 week MA | $123.5 | 70% above |
VRT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 70% above its 200-week average.
CNH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $11.1 | $12.8 | +15% |
| 2021 | $12.8 | $18.9 | +48% |
| 2022 | $18.9 | $16.2 | -15% |
| 2023 | $16.2 | $12.2 | -25% |
| 2024 | $12.2 | $11.3 | -7.3% |
| 2025 | $11.3 | $9.44 | -16% |
| 2026 YTD | $9.44 | $12.0 | +27% |
CNH has the edge over VRT on returns for 2026, with the stronger performance.
VRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.9 | $18.9 | +73% |
| 2021 | $18.9 | $24.9 | +31% |
| 2022 | $24.9 | $12.8 | -48% |
| 2023 | $12.8 | $48.0 | +275% |
| 2024 | $48.0 | $115.1 | +140% |
| 2025 | $115.1 | $167.6 | +46% |
| 2026 YTD | $167.6 | $209.6 | +25% |
VRT's yearly returns have swung widely, from +275% in 2023 to −48% in 2022. It's up 25% so far in 2026.