Titan International, Inc. (TWI) 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

+216.7%

$15.74

vs $4.97 price

Levered DCF

-$8.75

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.66

Distress zone

Rating

C-

Overall 1 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-7.83×	-83.83×	11.81×	5.47×	13.7×	-4.54×	-4.21×	17.26×
P/B	0.97×	0.94×	1.99×	2.53×	2.97×	1.65×	0.93×	1×
P/S	0.27×	0.25×	0.51×	0.45×	0.38×	0.23×	0.15×	0.17×
EV / EBITDA	10.63×	9.05×	6.7×	4.58×	8.27×	24.65×	17.6×	6.1×
Gross margin	13.3%	14.0%	16.8%	16.6%	13.3%	9.1%	8.9%	12.4%
Operating margin	1.1%	1.8%	8.2%	9.5%	4.8%	-2.8%	-2.0%	2.6%
Net margin	-3.5%	-0.3%	4.3%	8.1%	2.8%	-4.8%	-3.3%	1.0%
Current ratio	2.3×	2.35×	2.35×	2.04×	1.8×	2×	1.99×	2.08×
Debt / equity	1.38×	1.38×	0.94×	1.19×	2.19×	2.73×	2.23×	1.65×
Interest coverage	0.54×	0.91×	7.92×	6.4×	2.64×	-1.16×	-0.86×	1.39×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%	0.6%	0.4%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	-1.0%	-2.5%	7.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-12.3%	-1.1%	16.9%	46.2%	21.6%	-33.7%	-20.6%	5.8%
Return on invested capital	1.6%	-1.2%	12.1%	20.9%	10.8%	-4.8%	-3.3%	3.0%
Return on assets	-3.8%	-0.4%	6.1%	13.7%	4.2%	-5.9%	-4.3%	1.3%
Free cash flow yield	-4.9%	16.3%	12.8%	11.8%	-4.1%	12.0%	4.1%	-27.0%
Earnings yield	-12.8%	-1.2%	8.5%	18.3%	7.3%	-20.4%	-22.3%	5.8%
Enterprise value	$1B	$953.7M	$1.1B	$1.3B	$1.1B	$667.5M	$674.6M	$658.5M
Net debt / EBITDA	5.37×	4.62×	1.27×	1.06×	3.08×	13.74×	11.92×	3.52×
Cash conversion cycle (days)	100	94	86	78	84	100	99	103