Value Sense
CNHI
CNH Industrial N.V. (CNHI)
Last Price$10.40.0%
Market Cap$13.1B
LTM Revenue
$24.2B
-0.3% YoY
LTM Net Income
$2,290.0M
+5.1% YoY
LTM Net Debt
$24.4B
Net Debt to FCF - (50.2x)
LTM Free Cash Flow (FCF)
($486.0M)
(2.0% margin)

CNHI Income Statement

CNHI Income Statement Overview

Annual
Quarterly
LTM
Dec'14
Dec'15
Dec'16
Dec'17
Dec'18
Dec'19
Dec'20
Dec'21
Dec'22
Dec'23
Revenue
$24.7B 4.9% YoY
Gross profit
$7,889.0M 16.8% YoY
31.9% margin
Cost of revenue
$16.8B 0.0% YoY
Operating income
$4,985.0M 20.5% YoY
20.2% margin
Other: $973.0M
Net interest: $1,309.0M
Operating expenses
$2,904.0M 10.9% YoY
Pre-tax income
$2,703.0M 0.8% YoY
10.9% margin
Net income
$2,371.0M 16.9% YoY
9.6% margin
Income tax
$594.0M
22.0% tax rate
R&D
$1,041.0M 20.2% YoY
4.2% of revenue
SG&A
$1,863.0M 6.3% YoY
7.5% of revenue

CNHI Income statement key metrics

Annual
Quarterly
LTM

Revenue

$24.7B +4.9% YoY

Operating Income

$5.0B +20.5% YoY

Net Income

$2.4B +16.9% YoY

CNHI Balance Sheet

CNHI Balance Sheet Overview

Annual
Quarterly
LTM
Dec'14
Dec'15
Dec'16
Dec'17
Dec'18
Dec'19
Dec'20
Dec'21
Dec'22
Dec'23
Assets
Liabilities
Total assets
$46.4B
Current assets ($35.4B, 76.3% of total)
Cash & ST investments
$5,045.0M (10.9%)
Accounts receivables
$24.8B (53.4%)
Other current assets
$5,545.0M (12.0%)
Non-current assets ($11.0B, 23.7% of total)
Long-term investments
$699.0M (1.5%)
Intangible assets
$1,292.0M (2.8%)
Other non-current assets
$5,678.0M (12.3%)
Financial position
Net Debt
$22.4B
$5,045.0M$27.4B
Cash & Short-term Investments
Total Debt
Quick ratio
1.7x
Net Debt to Free Cash Flow
(77.8x)
Debt to Equity ratio
333.3%

CNHI Balance Sheet Metrics

Annual
Quarterly
LTM

Assets

$46.4B +17.7% YoY

Liabilities

$38.1B +17.6% YoY

Shareholder's Equity

$8,234.0M +18.0% YoY

CNHI Cash Flow Statement

CNHI Cash Flow Statement Overview

Annual
Quarterly
LTM
Dec'14
Dec'15
Dec'16
Dec'17
Dec'18
Dec'19
Dec'20
Dec'21
Dec'22
Dec'23
Cash Beginning of PeriodOperating Cash FlowInvesting Cash FlowFinancing Cash FlowForex Changes on CashCash End of Period$5,129.0M$907.0M($3,699.0M)$2,598.0M$110.0M$5,045.0M

CNHI Cash Flow Statement key metrics

Annual
Quarterly
LTM

Operating Cash Flow (OCF)

$907.0M +62.8% YoY

Capital Expenditure (CAPEX)

($1,195.0M) +19.6% YoY

Free Cash Flow (FCF)

($288.0M) -34.8% YoY

CNHI Financials

USD
Millions
Billions
Annual
Quarterly
Trailing
Key stats
Income statement
Balance sheet
Cash Flow Statement
Valuation
Ratios
Per share
Per employee
Dividends & Yields
Dec'11Dec'12Dec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23
Revenue
% growth
33,480.0
0.0%
32,801.0
(2.0%)
35,596.1
8.5%
32,555.0
(8.5%)
25,912.0
(20.4%)
24,872.0
(4.0%)
27,361.0
10.0%
29,706.0
8.6%
28,079.0
(5.5%)
26,032.0
(7.3%)
33,428.0
28.4%
23,551.0
(29.5%)
24,694.0
4.9%
Cost of Goods Sold (COGS)26,270.025,569.028,856.125,534.020,357.019,539.021,621.022,958.021,832.021,327.025,951.016,797.016,805.0
Gross Profit
% margin
7,210.0
21.5%
7,232.0
22.0%
6,740.0
18.9%
7,021.0
21.6%
5,555.0
21.4%
5,333.0
21.4%
5,740.0
21.0%
6,748.0
22.7%
6,247.0
22.2%
4,705.0
18.1%
7,477.0
22.4%
6,754.0
28.7%
7,889.0
31.9%
Operating Expenses4,240.04,165.03,999.04,031.03,173.03,122.03,287.03,412.03,246.03,087.03,679.02,618.02,904.0
Research & Development Expenses (R&D)1,026.01,129.0828.51,106.0856.0860.0957.01,061.01,030.0932.01,236.0866.01,041.0
Selling, General & Administrative Expenses (SG&A)3,214.03,036.03,079.32,925.02,317.02,262.02,330.02,351.02,216.02,155.02,443.01,752.01,863.0
Operating Income
% margin
2,970.0
8.9%
3,067.0
9.4%
2,579.5
7.2%
2,990.0
9.2%
2,382.0
9.2%
2,211.0
8.9%
2,453.0
9.0%
3,336.0
11.2%
862.0
3.1%
(365.0)
(1.4%)
1,502.0
4.5%
4,136.0
17.6%
4,985.0
20.2%
Interest Income0.00.056.60.00.00.00.00.0201.0175.0140.0133.00.0
Interest Expense1,324.01,209.0696.01,318.01,106.01,028.0942.0812.0798.0678.0596.0734.01,309.0
Pre-tax Income1,180.01,347.02,081.01,089.0567.0(9.0)680.01,466.01,170.0(505.0)1,980.02,682.02,703.0
Income Tax
% effective tax rate
652.0
55.3%
564.0
41.9%
814.7
39.2%
467.0
42.9%
360.0
63.5%
298.0
(3,311.1%)
455.0
66.9%
417.0
28.4%
(271.0)
(23.2%)
(50.0)
9.9%
342.0
17.3%
747.0
27.9%
594.0
22.0%
Net Income
% margin
545.0
1.6%
756.0
2.3%
1,089.5
3.1%
710.0
2.2%
253.0
1.0%
(252.0)
(1.0%)
295.0
1.1%
1,068.0
3.6%
1,422.0
5.1%
(455.0)
(1.7%)
1,723.0
5.2%
2,029.0
8.6%
2,371.0
9.6%
EPS0.450.620.870.520.19(0.18)0.200.791.05(0.34)1.271.501.78
Diluted EPS0.450.620.870.520.19(0.18)0.200.781.05(0.34)1.271.491.76
EBITDA
% margin
3,658.0
10.9%
3,826.0
11.7%
3,974.2
11.2%
2,591.0
8.0%
1,757.0
6.8%
1,063.0
4.3%
1,715.0
6.3%
2,339.0
7.9%
2,077.0
7.4%
807.0
3.1%
2,650.0
7.9%
3,447.0
14.6%
5,549.0
22.5%