Titan Machinery Inc. (TITN) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+42.3%

$33.48

vs $23.53 price

Levered DCF

-$14.16

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.17

Grey zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-6.84×	-11.48×	5.42×	9.76×	10.51×	25.43×	19.38×	33.46×
P/B	0.64×	0.69×	0.91×	1.83×	1.57×	1.3×	0.78×	1.22×
P/S	0.15×	0.16×	0.22×	0.44×	0.4×	0.34×	0.21×	0.32×
EV / EBITDA	33.16×	32.57×	8.14×	8.27×	7.22×	11.53×	14.41×	13.05×
Gross margin	15.8%	14.6%	19.3%	19.9%	19.4%	18.5%	19.2%	18.4%
Operating margin	-0.1%	0.2%	6.1%	6.3%	5.3%	2.7%	1.6%	2.2%
Net margin	-2.2%	-1.4%	4.0%	4.6%	3.9%	1.4%	1.1%	1.0%
Current ratio	1.41×	1.35×	1.32×	1.74×	1.84×	1.83×	1.47×	1.52×
Debt / equity	1.43×	1.63×	1.62×	0.77×	0.67×	0.83×	1.52×	1.04×
Interest coverage	-0.06×	0.11×	8×	19.92×	15.79×	5.21×	2.18×	1.98×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-9.4%	-6.0%	16.9%	19.0%	15.2%	5.2%	4.0%	3.6%
Return on invested capital	-0.2%	0.3%	7.1%	10.8%	9.4%	3.4%	2.3%	3.0%
Return on assets	-3.4%	-2.0%	5.6%	8.6%	7.0%	2.4%	1.4%	1.5%
Free cash flow yield	31.1%	4.4%	-15.7%	-2.7%	17.7%	31.6%	-9.0%	8.5%
Earnings yield	-14.6%	-8.7%	18.4%	10.4%	9.6%	4.0%	5.2%	3.0%
Enterprise value	$1.2B	$1.4B	$1.6B	$1.4B	$829M	$710.8M	$748.2M	$700.1M
Net debt / EBITDA	22.64×	22.64×	5.14×	2.26×	1.26×	3.69×	9.25×	5.43×
Cash conversion cycle (days)	174	186	227	153	125	144	221	191