Cnh Industrial Financials

CNH

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Cnh Industrial (CNH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Neutral

5/9

Cnh Industrial passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.58x

For every $1 of reported earnings, Cnh Industrial generates $1.58 in operating cash flow ($2.0B OCF vs $1.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$19.8B

YoY-19.7%

5Y CAGR-6.7%

10Y CAGR-4.8%

Cnh Industrial generated $19.8B in revenue in fiscal year 2024. This represents a decrease of 19.7% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$1.2B

YoY-45.2%

5Y CAGR-2.6%

10Y CAGR+5.8%

Cnh Industrial reported $1.2B in net income in fiscal year 2024. This represents a decrease of 45.2% from the prior year.

EPS (Diluted)

$0.99

YoY-41.4%

5Y CAGR-1.2%

10Y CAGR+6.7%

Cnh Industrial earned $0.99 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 41.4% from the prior year.

Cash & Debt

$3.2B

YoY-26.2%

5Y CAGR-8.1%

10Y CAGR-4.7%

Cnh Industrial held $3.2B in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.47

YoY+18.7%

5Y CAGR+18.3%

10Y CAGR+5.4%

Cnh Industrial paid $0.47 per share in dividends in fiscal year 2024. This represents an increase of 18.7% from the prior year.

Shares Outstanding

1.25B

YoY-0.7%

5Y CAGR-1.6%

10Y CAGR-0.8%

Cnh Industrial had 1.25B shares outstanding in fiscal year 2024. This represents a decrease of 0.7% from the prior year.

Gross Margin

32.7%

YoY+0.9pp

5Y CAGR+10.5pp

10Y CAGR+11.1pp

Cnh Industrial's gross margin was 32.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 0.9 percentage points from the prior year.

Operating Margin

N/A

Net Margin

6.3%

YoY-2.9pp

5Y CAGR+1.2pp

10Y CAGR+4.1pp

Cnh Industrial's net profit margin was 6.3% in fiscal year 2024, showing the share of revenue converted to profit. This is down 2.9 percentage points from the prior year.

Return on Equity

16.2%

YoY-12.0pp

5Y CAGR-7.1pp

10Y CAGR+1.8pp

Cnh Industrial's ROE was 16.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 12.0 percentage points from the prior year.

R&D Spending

$924.0M

YoY-11.2%

5Y CAGR-2.1%

10Y CAGR-1.8%

Cnh Industrial invested $924.0M in research and development in fiscal year 2024. This represents a decrease of 11.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

CNH Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$19.8B-19.7%	$24.7B+4.8%	$23.6B+20.8%	$19.5B+31.9%	$14.8B-47.4%	$28.1B
Cost of Revenue	$13.3B-20.7%	$16.8B+0.2%	$16.8B+19.1%	$14.1B+26.5%	$11.2B-48.9%	$21.8B
Gross Profit	$6.5B-17.4%	$7.8B+16.2%	$6.8B+25.4%	$5.4B+48.5%	$3.6B-41.9%	$6.2B
R&D Expenses	$924.0M-11.2%	$1.0B+20.2%	$866.0M+34.9%	$642.0M+30.2%	$493.0M-52.1%	$1.0B
SG&A Expenses	$1.7B-8.1%	$1.9B+6.3%	$1.8B+20.5%	$1.5B+12.2%	$1.3B-41.5%	$2.2B
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$1.6B+19.8%	$1.3B+83.2%	$734.0M+33.7%	$549.0M-16.8%	$660.0M-17.3%	$798.0M
Income Tax	$336.0M-43.4%	$594.0M-20.5%	$747.0M+226.2%	$229.0M+169.4%	$85.0M+131.4%	-$271.0M
Net Income	$1.2B-45.2%	$2.3B+12.1%	$2.0B+17.8%	$1.7B+449.5%	-$493.0M-134.7%	$1.4B
EPS (Diluted)	$0.99-41.4%	$1.69+13.4%	$1.49+17.3%	$1.27+452.8%	$-0.36-134.3%	$1.05

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$4.4B-6.6%	$4.7B+23.1%	$3.8B-21.5%	$4.9B-11.2%	$5.5B+13.9%	$4.8B-29.1%	$6.8B+13.5%	$6.0B
Cost of Revenue	$3.0B-6.2%	$3.2B+24.3%	$2.6B-22.7%	$3.3B-10.2%	$3.7B+15.9%	$3.2B-32.1%	$4.7B+15.9%	$4.1B
Gross Profit	$1.4B-7.6%	$1.5B+20.7%	$1.3B-18.9%	$1.6B-13.0%	$1.8B+10.0%	$1.6B-22.2%	$2.1B+8.3%	$1.9B
R&D Expenses	$281.0M+28.9%	$218.0M+18.5%	$184.0M-22.7%	$238.0M+0.4%	$237.0M+3.9%	$228.0M-17.1%	$275.0M+3.4%	$266.0M
SG&A Expenses	$549.0M+14.9%	$478.0M+23.8%	$386.0M-6.8%	$414.0M-10.2%	$461.0M+12.2%	$411.0M-14.0%	$478.0M+3.5%	$462.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$378.0M+5.0%	$360.0M-0.6%	$362.0M-14.0%	$421.0M+0.7%	$418.0M+6.1%	$394.0M-2.5%	$404.0M+16.8%	$346.0M
Income Tax	$1.0M-98.7%	$76.0M+61.7%	$47.0M-47.2%	$89.0M-6.3%	$95.0M+23.4%	$77.0M+32.8%	$58.0M-66.1%	$171.0M
Net Income	$80.0M-62.4%	$213.0M+62.6%	$131.0M-24.3%	$173.0M-56.6%	$399.0M+8.4%	$368.0M-33.1%	$550.0M+2.4%	$537.0M
EPS (Diluted)	$0.06-64.7%	$0.17+70.0%	$0.10-28.6%	$0.14-56.3%	$0.32+10.3%	$0.29-31.0%	$0.42+5.0%	$0.40

CNH Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$42.9B-7.2%	$46.3B+17.5%	$39.4B-20.3%	$49.4B+1.4%	$48.7B+2.9%	$47.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$3.2B-26.2%	$4.3B-1.2%	$4.4B-13.2%	$5.0B-42.6%	$8.8B+80.2%	$4.9B
Inventory	$4.8B-13.9%	$5.5B+15.3%	$4.8B+14.1%	$4.2B-30.0%	$6.0B-15.0%	$7.1B
Accounts Receivable	$125.0M-6.0%	$133.0M-22.7%	$172.0M-10.4%	$192.0M-62.1%	$506.0M+21.6%	$416.0M
Goodwill	$3.6B-0.8%	$3.6B+8.8%	$3.3B+3.5%	$3.2B+74.6%	$1.8B-27.6%	$2.5B
Total Liabilities	$35.2B-7.7%	$38.1B+17.6%	$32.4B-23.9%	$42.6B-2.6%	$43.7B+6.1%	$41.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$7.7B-4.7%	$8.1B+16.9%	$6.9B+1.7%	$6.8B+36.5%	$5.0B-18.5%	$6.1B
Retained Earnings	$10.3B+6.8%	$9.7B+22.1%	$7.9B+64.1%	$4.8B+46.9%	$3.3B-13.9%	$3.8B

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$43.3B-1.0%	$43.7B+3.9%	$42.1B-2.0%	$42.9B-2.3%	$44.0B-3.9%	$45.7B-1.2%	$46.3B+7.5%	$43.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$2.3B-8.3%	$2.5B+48.2%	$1.7B-46.9%	$3.2B+59.4%	$2.0B-38.1%	$3.2B-25.1%	$4.3B+45.1%	$3.0B
Inventory	$5.4B+2.6%	$5.2B+1.2%	$5.2B+8.0%	$4.8B-19.7%	$6.0B-3.8%	$6.2B+11.6%	$5.5B-14.0%	$6.4B
Accounts Receivable	N/A	N/A	N/A	$125.0M	N/A	N/A	$133.0M	N/A
Goodwill	$3.6B-0.1%	$3.6B+0.7%	$3.6B+0.3%	$3.6B-0.4%	$3.6B-0.1%	$3.6B-0.3%	$3.6B+3.6%	$3.5B
Total Liabilities	$35.4B-1.2%	$35.9B+5.1%	$34.1B-3.0%	$35.2B-3.1%	$36.3B-3.8%	$37.7B-1.1%	$38.1B+9.1%	$34.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$7.8B0.0%	$7.8B-1.6%	$7.9B+2.5%	$7.7B+3.5%	$7.5B-4.9%	$7.8B-3.2%	$8.1B+1.1%	$8.0B
Retained Earnings	$10.4B+0.8%	$10.3B-1.0%	$10.4B+1.3%	$10.3B+3.2%	$10.0B-1.6%	$10.2B+5.1%	$9.7B+5.7%	$9.1B

CNH Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$2.0B+117.0%	$907.0M+62.8%	$557.0M-86.4%	$4.1B-26.2%	$5.5B+202.8%	$1.8B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$2.8B+25.1%	-$3.7B-22.9%	-$3.0B+39.8%	-$5.0B-81.9%	-$2.8B-38.4%	-$2.0B
Financing Cash Flow	-$67.0M-102.6%	$2.6B+32.3%	$2.0B+235.9%	-$1.4B-319.3%	$659.0M+219.9%	$206.0M
Dividends Paid	$607.0M+12.8%	$538.0M+27.2%	$423.0M+125.0%	$188.0M+2250.0%	$8.0M-97.2%	$283.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$659.0M-14.6%	$772.0M+376.5%	$162.0M-90.4%	$1.7B+346.4%	$379.0M+142.4%	-$894.0M-159.0%	$1.5B+553.0%	$232.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$466.0M-36.3%	-$342.0M-22.1%	-$280.0M+71.9%	-$995.0M-95.1%	-$510.0M-21.7%	-$419.0M+74.7%	-$1.7B-108.4%	-$795.0M
Financing Cash Flow	-$373.0M-331.7%	$161.0M+111.3%	-$1.4B-253.1%	$929.0M+181.6%	-$1.1B-457.1%	$319.0M-77.1%	$1.4B+275.9%	$370.0M
Dividends Paid	$1.0M-99.7%	$320.0M+31900.0%	$1.0M-85.7%	$7.0M-98.8%	$593.0M+59200.0%	$1.0M-85.7%	$7.0M+250.0%	$2.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CNH Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	32.7%+0.9pp	31.8%+3.1pp	28.7%+1.1pp	27.6%+3.1pp	24.5%+2.3pp	22.3%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	6.3%-2.9pp	9.2%+0.6pp	8.6%-0.2pp	8.8%+12.2pp	-3.3%-8.4pp	5.1%
Return on Equity	16.2%-12.0pp	28.1%-1.2pp	29.3%+4.0pp	25.3%	N/A	23.2%
Return on Assets	2.9%-2.0pp	4.9%-0.2pp	5.1%+1.7pp	3.5%+4.5pp	-1.0%-4.0pp	3.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	4.56-0.1	4.71+0.0	4.68-1.6	6.25-2.5	8.76+2.0	6.73
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	31.9%-0.3pp	32.2%-0.7pp	32.9%+1.0pp	31.9%-0.7pp	32.5%-1.1pp	33.7%+3.0pp	30.7%-1.5pp	32.2%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	1.8%-2.7pp	4.5%+1.1pp	3.4%-0.1pp	3.5%-3.7pp	7.3%-0.4pp	7.6%-0.5pp	8.1%-0.9pp	9.0%
Return on Equity	1.0%-1.7pp	2.7%+1.1pp	1.7%-0.6pp	2.2%-3.1pp	5.3%+0.6pp	4.7%-2.1pp	6.8%+0.1pp	6.7%
Return on Assets	0.2%-0.3pp	0.5%+0.2pp	0.3%-0.1pp	0.4%-0.5pp	0.9%+0.1pp	0.8%-0.4pp	1.2%-0.1pp	1.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	4.55-0.1	4.61+0.3	4.32-0.2	4.56-0.3	4.87+0.1	4.81+0.1	4.71+0.3	4.36
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Cnh Industrial's annual revenue?

Cnh Industrial (CNH) reported $19.8B in total revenue for fiscal year 2024. This represents a -19.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Cnh Industrial's revenue growing?

Cnh Industrial (CNH) revenue declined by 19.7% year-over-year, from $24.7B to $19.8B in fiscal year 2024.

Is Cnh Industrial profitable?

Yes, Cnh Industrial (CNH) reported a net income of $1.2B in fiscal year 2024, with a net profit margin of 6.3%.

What is Cnh Industrial's earnings per share (EPS)?

Cnh Industrial (CNH) reported diluted earnings per share of $0.99 for fiscal year 2024. This represents a -41.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Cnh Industrial's gross margin?

Cnh Industrial (CNH) had a gross margin of 32.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Cnh Industrial's net profit margin?

Cnh Industrial (CNH) had a net profit margin of 6.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Cnh Industrial pay dividends?

Yes, Cnh Industrial (CNH) paid $0.47 per share in dividends during fiscal year 2024.

What is Cnh Industrial's return on equity (ROE)?

Cnh Industrial (CNH) has a return on equity of 16.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Cnh Industrial's operating cash flow?

Cnh Industrial (CNH) generated $2.0B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Cnh Industrial's total assets?

Cnh Industrial (CNH) had $42.9B in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Cnh Industrial spend on research and development?

Cnh Industrial (CNH) invested $924.0M in research and development during fiscal year 2024.

How many shares does Cnh Industrial have outstanding?

Cnh Industrial (CNH) had 1.25B shares outstanding as of fiscal year 2024.

What is Cnh Industrial's debt-to-equity ratio?

Cnh Industrial (CNH) had a debt-to-equity ratio of 4.56 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Cnh Industrial's return on assets (ROA)?

Cnh Industrial (CNH) had a return on assets of 2.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Cnh Industrial's Piotroski F-Score?

Cnh Industrial (CNH) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Cnh Industrial's earnings high quality?

Cnh Industrial (CNH) has an earnings quality ratio of 1.58x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.