TEREX CORP (TEX) FY2025 10-K Annual Report
TEREX CORP (TEX) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 13, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
TEREX CORP FY2025 10-K Analysis
Business Overview
- • Core business: global industrial equipment manufacturer for materials processing, waste/recycling, MEWPs, and electric utility industries
- • Emphasis on electric and hybrid products enabling emission-free and quiet operation, supporting renewable energy and waste recovery
- • Reportable segments reorganized: Environmental Solutions now aggregates ESG and Utilities segments under ES
- • Manufacturing footprint spans North America, Europe, and Asia Pacific with worldwide sales and global lifecycle support
- • Continued strategic focus on portfolio management through acquisitions and divestitures of non-core businesses
Management Discussion & Analysis
- • Revenue $5.42B, up 5.7% YoY, driven by ESG business acquisition, offset by lower Aerials and Materials Processing demand
- • Operating margin 8.8% vs 10.3% in 2024, operating profit down $51M to $475M due to lower Aerials volume and tariffs
- • Best segment: Environmental Solutions sales up 105.7% to $1.69B, operating profit up 185.4% to $234M; Worst segment: Aerials sales down 14.5% to $2.06B, operating profit down 62% to $103M
- • Cash and equivalents $772M, total liquidity $1.57B, increased $384M YoY; capital allocation includes share repurchases, dividends, and capex (no exact $ given)
- • Increased interest expense ($165M vs $76M) from debt issued for ESG acquisition; management expects adequate liquidity for 12 months; risks include tariffs and tax legislation changes
Risk Factors
- • Regulatory/legal risk: Unrecognized tax benefits liability $20M with expected $5M reduction from audit settlement in 2026
- • Geopolitical/macroeconomic threat: Global economic volatility from tariffs, trade wars, inflation, FX volatility, and high interest rates impacting cash generation
- • Operational/supply chain vulnerability: $618M purchase obligations, mostly payable within 12 months, including cancellable and non-cancellable commitments
- • Competitive/market disruption risk: Dependence on third-party finance companies for customer creditworthiness affecting equipment sales volume
- • Financial/structural risk: Outstanding debt $2,552M with $707M future interest payments and $150M due within 12 months
TEREX CORP FY2025 Key Financial MetricsXBRL
Revenue
$5.4B
▲ +5.7% YoY
Net Income
$221M
▼ -34.0% YoY
Gross Margin
19.4%
▼ -144bp YoY
Operating Margin
8.8%
▼ -150bp YoY
Net Margin
4.1%
▼ -246bp YoY
ROE
10.5%
▼ -774bp YoY
Total Assets
$6.1B
▲ +7.1% YoY
EPS (Diluted)
$3.33
▼ -32.9% YoY
Operating Cash Flow
$440M
▲ +35.0% YoY
Source: XBRL data from TEREX CORP FY2025 10-K filing on SEC EDGAR. All figures in USD.
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