# Titan International, Inc. (TWI)

> Source: Nexqual · https://nexqual.com/TWI · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Titan International, Inc. (TWI), nexqual.com/TWI" · informational, not investment advice.

**Price:** USD 6.62 (-0.60% on the day) · last close of Oct 28, 2026; US market pre market, not a live price. Prev close 6.66 · day 6.5–6.74 · 52w 6.37–11.7 · market cap $427M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.87B, net income -$76.8M (-4.1% margin), free cash flow -$8.6M (SEC filings).
- 1 of 80 tracked superinvestors hold TWI (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (3 analysts), mean target USD 12 (range 11–13).
- Total return with dividends: 1Y -16.8% vs S&P 500 +13.6%; 5Y -8.3% vs S&P 500 +79.8%.
- Next earnings: 2026-10-29, EPS estimate USD -0.05, revenue estimate $449M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.78B | $2.17B | $1.82B | $1.85B | $1.83B | $1.87B |
| Gross profit | $238M | $361M | $306M | $258M | $253M | — |
| Operating income | $85.2M | $206M | $149M | $33.2M | $20.8M | -$1.7M |
| Net income | $49.6M | $176M | $78.8M | -$5.6M | -$63.5M | -$76.8M |
| EPS (diluted) | $0.79 | $2.77 | $1.25 | -$0.08 | -$1.00 | — |
| Free cash flow | -$28.1M | $114M | $119M | $75.9M | -$24.6M | -$8.6M |
| Gross margin | 13.3% | 16.6% | 16.8% | 14.0% | 13.9% | — |
| Operating margin | 4.8% | 9.5% | 8.2% | 1.8% | 1.1% | -0.1% |
| Net margin | 2.8% | 8.1% | 4.3% | -0.3% | -3.5% | -4.1% |
| Revenue growth | +41.4% | +21.9% | -16.0% | +1.3% | -0.9% | — |
| Cash + short-term investments | $98.1M | — | $220M | $196M | $203M | — |
| Total debt | $485M | $446M | $426M | $568M | $588M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.2x · EV/EBITDA 13.1x · EV/Sales 0.5x · P/B 0.8x · FCF yield -2.01% · Earnings yield -17.96% · Net debt $415M · EV $842M
P/E at fiscal year-ends: Dec 2023 11.9x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold TWI. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.01% | $6.0M | Added +16.4% |

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 3 analysts; mean target USD 12 (low 11, high 13).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -16.8% | -8.3% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | -16.9% | -1.7% |
| Volatility (annualized) | 47.1% | 50.4% |
| Max drawdown | -43.7% (Feb 2026→Aug 2026) | -64.9% (May 2022→Mar 2025) |

## Peers (Farm & Heavy Construction Machinery)
CMCO (Columbus McKinnon Corporation) USD 15.06 +0.87% · HY (Hyster-Yale, Inc.) USD 29.34 -0.17% · WNC (Wabash National Corporation) USD 13.82 +0.22% · MTW (Manitowoc Company, Inc. (The)) USD 23.15 +2.84% · AEBI (Aebi Schmidt Holding AG) USD 11.39 +2.34% · ASTE (Astec Industries, Inc.) USD 38.97 +1.33%

## More
Full page: https://nexqual.com/TWI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in TWI's own 10-K filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/899751/000089975126000007/twi-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Deere (DE) | "Customers including AGCO Corporation, Caterpillar Inc., CNH Global N.V., Deere & Company, Hitachi, Ltd., Kubota Corporation, Liebherr, and Volvo have helped sustain Titan's market leading position in wheel, tire, assembl…" |
| Customer | Caterpillar (CAT) | "Customers including AGCO Corporation, Caterpillar Inc., CNH Global N.V., Deere & Company, Hitachi, Ltd., Kubota Corporation, Liebherr, and Volvo have helped sustain Titan's market leading position in wheel, tire, assembl…" |
| Customer | HITACHI LTD (HTHIY) | "Customers including AGCO Corporation, Caterpillar Inc., CNH Global N.V., Deere & Company, Hitachi, Ltd., Kubota Corporation, Liebherr, and Volvo have helped sustain Titan's market leading position in wheel, tire, assembl…" |
| Partner | CARLISLE COMPANIES INC (CSL) | "We also have a trademark license agreement with Carlisle Companies, Inc. to manufacture and sell certain tires under the Carlisle® brand." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.05 | $0.01 | −$0.06 | $448.8M | 4 |
| Next quarter (ends 2026-12-31) | $-0.18 | $-0.10 | −$0.08 | $425.4M | 4 |
| Current fiscal year (ends 2026-12-31) | $-0.12 | $-0.13 | +$0.01 | $1.86B | 4 |
| Next fiscal year (ends 2027-12-31) | $0.29 | $0.37 | -22.1% | $1.94B | 4 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-01-15 (includes earnings 2026-10-29): ±17.7%; last 8 reports averaged ±7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2027-01-15 | 78 | 56.3% | ±17.7% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Jul 30, 2026 | Quarter ended Jun 30, 2026 | $0.10 | −$0.04 | Beat +$0.14 | -5.6% |
| Apr 30, 2026 | Quarter ended Mar 31, 2026 | $0.00 | $0.02 | Miss −$0.02 | -1.4% |
| Feb 26, 2026 | Quarter ended Dec 31, 2025 | −$0.27 | −$0.28 | Beat +3.6% | -7.4% |
| Nov 6, 2025 | Quarter ended Sep 30, 2025 | $0.04 | −$0.02 | Beat +$0.06 | -1.6% |
| Jul 31, 2025 | — | — | — | — | -6.5% |
| Apr 30, 2025 | — | — | — | — | -13.4% |
| Feb 26, 2025 | — | — | — | — | -8.9% |
| Oct 30, 2024 | — | — | — | — | -11.4% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-29 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/899751/000089975126000084/0000899751-26-000084-index.htm |
| 2026-10-29 | 10-Q | Quarterly report · period ended Sep 30, 2026 | https://www.sec.gov/Archives/edgar/data/899751/000089975126000083/0000899751-26-000083-index.htm |
| 2026-10-27 | Schedule 13G/A | BlackRock, Inc.: 6.5% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/899751/000201238326003854/0002012383-26-003854-index.htm |
| 2026-10-16 | 8-K | Director or executive officer change, or pay arrangement — “On October 13, 2026, Titan International, Inc. (the "Company") entered into a deferred compensation arrangement (the "Plan") with Paul G. Reitz, the Company's President and Chief Executive Officer, whereby the Company awarded Mr. Reitz deferred compensation in the amount of $2.3 million, subject to the vesting and payment terms of the Plan (the "Deferred Compensation Amount"). Payment of the Deferred Compensation Amount will not commence until 2030 and will thereafter be made in a lump sum or installments, as…” | https://www.sec.gov/Archives/edgar/data/899751/000089975126000075/0000899751-26-000075-index.htm |
| 2026-09-25 | 8-K | Entered a material agreement; Director or executive officer change, or pay arrangement; Regulation FD disclosure — “On September 21, 2026, wholly owned subsidiaries Titan ITM Holding S.p.A. and Titan Europe Limited (the "Sellers") of Titan International, Inc., a Delaware corporation (the "Company"), entered into a Sale and Purchase Agreement (the "Purchase Agreement") to sell all of the outstanding equity interests of Italtractor ITM S.p.A. ("ITM"), a wholly-owned subsidiary of the Company, to USCO S.p.A., a joint stock company incorporated under the laws of Italy ("Purchaser"). Pursuant to the Purchase Agreement, Purchaser…” | https://www.sec.gov/Archives/edgar/data/899751/000089975126000069/0000899751-26-000069-index.htm |
| 2026-08-11 | Schedule 13G | DONALD SMITH & CO., INC., DSCO Value Fund, L.P.: 8.3% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/899751/000081437526000055/0000814375-26-000055-index.htm |
| 2026-07-30 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/899751/000089975126000064/0000899751-26-000064-index.htm |
| 2026-07-30 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/899751/000089975126000063/0000899751-26-000063-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.