CNH INDUSTRIAL NV (CNHI.MI) Stock Fundamental Analysis

Europe • Euronext Milan • BIT:CNHI • NL0010545661

11.08 EUR
+0.14 (+1.28%)
Last: Dec 29, 2023, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to CNHI. CNHI was compared to 112 industry peers in the Machinery industry. CNHI has an average financial health and profitability rating. A decent growth rate in combination with a cheap valuation! Better keep an eye on CNHI. CNHI also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • In the past year CNHI was profitable.
  • CNHI had a positive operating cash flow in the past year.
CNHI.MI Yearly Net Income VS EBIT VS OCF VS FCFCNHI.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 0 1B 2B 3B

1.2 Ratios

  • CNHI has negative profitability rations, so we won't be analyzing them here.
Industry RankSector Rank
ROA N/A
ROE N/A
ROIC N/A
ROA(3y)2.19%
ROA(5y)2.23%
ROE(3y)11.38%
ROE(5y)12.74%
ROIC(3y)N/A
ROIC(5y)N/A
CNHI.MI Yearly ROA, ROE, ROICCNHI.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 0 10 -10 20

1.3 Margins

  • With an excellent Profit Margin value of 9.07%, CNHI belongs to the best of the industry, outperforming 86.27% of the companies in the same industry.
  • In the last couple of years the Profit Margin of CNHI has grown nicely.
  • CNHI's Operating Margin of 12.52% is amongst the best of the industry. CNHI outperforms 88.24% of its industry peers.
  • CNHI's Operating Margin has improved in the last couple of years.
  • CNHI has a worse Gross Margin (23.70%) than 78.43% of its industry peers.
  • In the last couple of years the Gross Margin of CNHI has grown nicely.
Industry RankSector Rank
OM 12.52%
PM (TTM) 9.07%
GM 23.7%
OM growth 3Y21.39%
OM growth 5Y18.56%
PM growth 3Y36.63%
PM growth 5Y38%
GM growth 3Y6.79%
GM growth 5Y4.92%
CNHI.MI Yearly Profit, Operating, Gross MarginsCNHI.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 0 5 -5 10 15 20

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. Health

2.1 Basic Checks

  • CNHI does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • Compared to 1 year ago, CNHI has less shares outstanding
  • Compared to 1 year ago, CNHI has a worse debt to assets ratio.
CNHI.MI Yearly Shares OutstandingCNHI.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 200M 400M 600M 800M 1B
CNHI.MI Yearly Total Debt VS Total AssetsCNHI.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 10B 20B 30B 40B 50B

2.2 Solvency

  • CNHI has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 0
Altman-Z N/A
ROIC/WACCN/A
WACC7.64%
CNHI.MI Yearly LT Debt VS Equity VS FCFCNHI.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 5B 10B 15B 20B 25B

2.3 Liquidity

  • CNHI has a Current Ratio of 1.99. This is a normal value and indicates that CNHI is financially healthy and should not expect problems in meeting its short term obligations.
  • With a decent Current ratio value of 1.99, CNHI is doing good in the industry, outperforming 67.65% of the companies in the same industry.
  • CNHI has a Quick Ratio of 1.68. This is a normal value and indicates that CNHI is financially healthy and should not expect problems in meeting its short term obligations.
  • CNHI's Quick ratio of 1.68 is fine compared to the rest of the industry. CNHI outperforms 76.47% of its industry peers.
Industry RankSector Rank
Current Ratio 1.99
Quick Ratio 1.68
CNHI.MI Yearly Current Assets VS Current LiabilitesCNHI.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 10B 20B 30B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • CNHI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 24.24%, which is quite impressive.
  • CNHI shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 25.26% yearly.
  • Looking at the last year, CNHI shows a very negative growth in Revenue. The Revenue has decreased by -29.55% in the last year.
  • Measured over the past years, CNHI shows a decrease in Revenue. The Revenue has been decreasing by -3.20% on average per year.
EPS 1Y (TTM)24.24%
EPS 3Y20.3%
EPS 5Y25.26%
EPS Q2Q%20.93%
Revenue 1Y (TTM)-29.55%
Revenue growth 3Y-5.74%
Revenue growth 5Y-3.2%
Sales Q2Q%7.59%

3.2 Future

  • The Earnings Per Share is expected to grow by 7.52% on average over the next years.
  • CNHI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.32% yearly.
EPS Next Y16.53%
EPS Next 2Y4.87%
EPS Next 3Y5.46%
EPS Next 5Y7.52%
Revenue Next Year10.75%
Revenue Next 2Y3.52%
Revenue Next 3Y3.56%
Revenue Next 5Y5.32%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
CNHI.MI Yearly Revenue VS EstimatesCNHI.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 10B 20B 30B
CNHI.MI Yearly EPS VS EstimatesCNHI.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2

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8

4. Valuation

4.1 Price/Earnings Ratio

  • CNHI is valuated cheaply with a Price/Earnings ratio of 7.39.
  • Based on the Price/Earnings ratio, CNHI is valued cheaply inside the industry as 89.22% of the companies are valued more expensively.
  • When comparing the Price/Earnings ratio of CNHI to the average of the S&P500 Index (28.03), we can say CNHI is valued rather cheaply.
  • CNHI is valuated cheaply with a Price/Forward Earnings ratio of 7.43.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of CNHI indicates a rather cheap valuation: CNHI is cheaper than 87.25% of the companies listed in the same industry.
  • When comparing the Price/Forward Earnings ratio of CNHI to the average of the S&P500 Index (27.97), we can say CNHI is valued rather cheaply.
Industry RankSector Rank
PE 7.39
Fwd PE 7.43
CNHI.MI Price Earnings VS Forward Price EarningsCNHI.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, CNHI is valued cheaper than 84.31% of the companies in the same industry.
  • 89.22% of the companies in the same industry are more expensive than CNHI, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 6.72
EV/EBITDA 4.4
CNHI.MI Per share dataCNHI.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.45
PEG (5Y)0.29
EPS Next 2Y4.87%
EPS Next 3Y5.46%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 3.24%, CNHI has a reasonable but not impressive dividend return.
  • CNHI's Dividend Yield is rather good when compared to the industry average which is at 1.45. CNHI pays more dividend than 88.24% of the companies in the same industry.
  • CNHI's Dividend Yield is rather good when compared to the S&P500 average which is at 1.80.
Industry RankSector Rank
Dividend Yield 3.24%

5.2 History

  • The dividend of CNHI is nicely growing with an annual growth rate of 19.87%!
Dividend Growth(5Y)19.87%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 23.61% of the earnings are spent on dividend by CNHI. This is a low number and sustainable payout ratio.
  • CNHI's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP23.61%
EPS Next 2Y4.87%
EPS Next 3Y5.46%
CNHI.MI Yearly Income VS Free CF VS DividendCNHI.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 0 1B 2B
CNHI.MI Dividend Payout.CNHI.MI Dividend Payout, showing the Payout Ratio.CNHI.MI Dividend Payout.PayoutRetained Earnings

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CNH INDUSTRIAL NV

BIT:CNHI (12/29/2023, 7:00:00 PM)

11.08

+0.14 (+1.28%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryMachinery
Earnings (Last)N/A
Earnings (Next)N/A
Inst OwnersN/A
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap14.74B
Revenue(TTM)24.60B
Net Income(TTM)2.23B
Analysts74.55
Price Target15.56 (40.43%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.24%
Yearly Dividend0.31
Dividend Growth(5Y)19.87%
DP23.61%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.65%
Min EPS beat(2)5.11%
Max EPS beat(2)10.18%
EPS beat(4)3
Avg EPS beat(4)10%
Min EPS beat(4)-1.57%
Max EPS beat(4)26.27%
EPS beat(8)7
Avg EPS beat(8)16.23%
EPS beat(12)11
Avg EPS beat(12)75.37%
EPS beat(16)12
Avg EPS beat(16)44.9%
Revenue beat(2)0
Avg Revenue beat(2)-2.79%
Min Revenue beat(2)-2.98%
Max Revenue beat(2)-2.6%
Revenue beat(4)2
Avg Revenue beat(4)4.29%
Min Revenue beat(4)-2.98%
Max Revenue beat(4)12%
Revenue beat(8)4
Avg Revenue beat(8)34.69%
Revenue beat(12)6
Avg Revenue beat(12)26.89%
Revenue beat(16)7
Avg Revenue beat(16)21.12%
PT rev (1m)-3.89%
PT rev (3m)-10.47%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-1.2%
EPS NY rev (1m)0%
EPS NY rev (3m)-3.66%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.84%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.69%
Valuation
Industry RankSector Rank
PE 7.39
Fwd PE 7.43
P/S 0.65
P/FCF 6.72
P/OCF 5.16
P/B N/A
P/tB N/A
EV/EBITDA 4.4
EPS(TTM)1.5
EY13.54%
EPS(NY)1.49
Fwd EY13.45%
FCF(TTM)1.65
FCFY14.88%
OCF(TTM)2.15
OCFY19.4%
SpS16.93
BVpSN/A
TBVpSN/A
PEG (NY)0.45
PEG (5Y)0.29
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA N/A
ROE N/A
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM 12.52%
PM (TTM) 9.07%
GM 23.7%
FCFM 9.74%
ROA(3y)2.19%
ROA(5y)2.23%
ROE(3y)11.38%
ROE(5y)12.74%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)6.41%
ROCE(5y)6.75%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y21.39%
OM growth 5Y18.56%
PM growth 3Y36.63%
PM growth 5Y38%
GM growth 3Y6.79%
GM growth 5Y4.92%
F-ScoreN/A
Asset TurnoverN/A
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 0
Debt/EBITDA 0
Cap/Depr 125.13%
Cap/Sales 2.96%
Interest Coverage 250
Cash Conversion 85.28%
Profit Quality 107.35%
Current Ratio 1.99
Quick Ratio 1.68
Altman-Z N/A
F-ScoreN/A
WACC7.64%
ROIC/WACCN/A
Cap/Depr(3y)92.3%
Cap/Depr(5y)89.65%
Cap/Sales(3y)3.72%
Cap/Sales(5y)3.68%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)24.24%
EPS 3Y20.3%
EPS 5Y25.26%
EPS Q2Q%20.93%
EPS Next Y16.53%
EPS Next 2Y4.87%
EPS Next 3Y5.46%
EPS Next 5Y7.52%
Revenue 1Y (TTM)-29.55%
Revenue growth 3Y-5.74%
Revenue growth 5Y-3.2%
Sales Q2Q%7.59%
Revenue Next Year10.75%
Revenue Next 2Y3.52%
Revenue Next 3Y3.56%
Revenue Next 5Y5.32%
EBIT growth 1Y-17.53%
EBIT growth 3Y14.43%
EBIT growth 5Y14.76%
EBIT Next Year34.65%
EBIT Next 3Y7.67%
EBIT Next 5Y5.38%
FCF growth 1Y-48.47%
FCF growth 3Y63.71%
FCF growth 5Y3.87%
OCF growth 1Y-44.45%
OCF growth 3Y18.92%
OCF growth 5Y0.5%

CNH INDUSTRIAL NV / CNHI.MI FAQ

What is the fundamental rating for CNHI stock?

ChartMill assigns a fundamental rating of 6 / 10 to CNHI.MI.


What is the valuation status of CNH INDUSTRIAL NV (CNHI.MI) stock?

ChartMill assigns a valuation rating of 8 / 10 to CNH INDUSTRIAL NV (CNHI.MI). This can be considered as Undervalued.


How profitable is CNH INDUSTRIAL NV (CNHI.MI) stock?

CNH INDUSTRIAL NV (CNHI.MI) has a profitability rating of 5 / 10.


Can you provide the financial health for CNHI stock?

The financial health rating of CNH INDUSTRIAL NV (CNHI.MI) is 6 / 10.


What is the earnings growth outlook for CNH INDUSTRIAL NV?

The Earnings per Share (EPS) of CNH INDUSTRIAL NV (CNHI.MI) is expected to grow by 16.53% in the next year.