TEX
Terex Corporation
TEX's fundamentals are mixed, but it looks expensive: trading at 29x earnings, more than twice its usual 13x. Analysts expect strong earnings growth.
TEX Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Stable | |
| Under pressure |
TEX's revenue is currently strong, and its profitability and cash flow are stable, but its balance sheet is under pressure.
TEX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8x | $15.81 | -73% |
| Forward | 10x | $57.56 | — |
| Fair | 12x | $24.64 | -57% |
| Expensive | 29x | $57.50 | -0.1% |
| Current | 29x | $57.56 | — |
Historical ranges are pointers, not guarantees.
TEX's PE is in its expensive range at 29x. If earnings grow as analysts expect, today's price would be 10x next year's earnings, in its fair range.
TEX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for TEX, with profitability improving.
TEX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.57 | +181% |
| Q3 2026 | $1.98 | -16% |
| Q2 2026 | $1.96 | -27% |
| Q1 2026 | $2.09 | -43% |
| Q4 2025 | $3.33 | -33% |
| Q3 2025 | $2.35 | -66% |
| Q2 2025 | $2.68 | -63% |
| Q1 2025 | $3.67 | -51% |
| Q4 2024 | $4.96 | -35% |
TEX's earnings per share have fallen from their peak: $1.98 over the past year, against $7.58 in late 2023.
TEX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.2B | +58% |
| Q2 2026 | $2.2B | +51% |
| Q1 2026 | $1.7B | +41% |
| Q4 2025 | $1.3B | +6.2% |
| Q3 2025 | $1.4B | +14% |
| Q2 2025 | $1.5B | +7.6% |
| Q1 2025 | $1.2B | -4.9% |
| Q4 2024 | $1.2B | +1.5% |
TEX's revenue has grown year over year for six quarters in a row: $2.2B last quarter, up 58% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.3% | -1.8 points |
| Q2 2026 | 8.4% | -0.3 points |
| Q1 2026 | -4.7% | -10 points |
| Q4 2025 | 10% | +6.1 points |
| Q3 2025 | 10% | 0 points |
| Q2 2025 | 8.7% | -5.3 points |
| Q1 2025 | 5.6% | -6.6 points |
| Q4 2024 | 4.3% | -5.2 points |
TEX's operating margin was 8.3% last quarter, down 1.8 points from the same quarter a year ago.
TEX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $241M | +85% |
| Q2 2026 | $128M | +64% |
| Q1 2026 | -$57M | $0 |
| Q3 2025 | $130M | +12% |
| Q2 2025 | $78M | +17% |
| Q1 2025 | -$57M | -$23.1M |
| Q3 2024 | $116.4M | -16% |
| Q2 2024 | $66.5M | -45% |
TEX generated $483M in free cash flow over the past year, up 81% from the year before.
TEX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -200K shares |
| 1 year | +73% | +48.1M shares |
| 3 years | +67% | +45.9M shares |
| 5 years | +61% | +43.1M shares |
| Available history | +59% | +42.2M shares |
TEX has 114M diluted shares, up 73% from a year ago, despite $76M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $72M |
| Q2 2026 | $3M |
| Q1 2026 | — |
| Q4 2025 | $1M |
| Q3 2025 | — |
| Q2 2025 | $23M |
| Q1 2025 | $32M |
| Q4 2024 | $15M |
TEX spent $76M buying back its own shares over the past year, up 8.6% from the year before.
TEX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.0x | Elevated |
| Q2 2026 | 3.7x | Elevated |
| Q1 2026 | 4.6x | High |
| Q4 2025 | 2.9x | Moderate |
TEX's net debt is about 3.0 years of its operating earnings (EBITDA).
TEX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.4 | Neutral |
| Stochastic | 35.1 | Neutral |
TEX's weekly RSI is 47 (neutral) and its Stochastic is 35 (neutral).
TEX PE vs Industrials Sector
| Metric | TEX | Sector median | Relative |
|---|---|---|---|
| PE | 29x | 24x | 21% above |
| PE % | 83 | 58 | 25 pts above |
TEX is trading at 29x earnings, a 21% premium to the Industrials sector's median of 24x.
TEX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $54.5 | 5.7% above |
| 20 week MA | $60.9 | 5.5% below |
| 50 week MA | $60.7 | 5.1% below |
| 100 week MA | $53.4 | 7.9% above |
| 200 week MA | $54.2 | 6.2% above |
TEX's trend is mixed: it's above three of its five weekly moving averages, and 6.2% above its 200-week average.
TEX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $30.1 | $35.9 | +19% |
| 2021 | $35.9 | $43.5 | +21% |
| 2022 | $43.5 | $43.1 | -1.1% |
| 2023 | $43.1 | $57.5 | +33% |
| 2024 | $57.5 | $45.2 | -21% |
| 2025 | $45.2 | $55.2 | +22% |
| 2026 YTD | $55.2 | $57.6 | +4.3% |
TEX has finished higher in four of the last six years. It's up 4.3% so far in 2026.