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CNH INDUSTRIAL NV (CNHI) Stock Fundamental Analysis

NYSE:CNHI - NL0010545661 - Common Stock

11.45 USD
-0.07 (-0.61%)
Last: 5/17/2024, 8:04:00 PM
11.4013 USD
-0.05 (-0.43%)
After Hours: 5/17/2024, 8:04:00 PM
Fundamental Rating

4

Overall CNHI gets a fundamental rating of 4 out of 10. We evaluated CNHI against 127 industry peers in the Machinery industry. While CNHI has a great profitability rating, there are quite some concerns on its financial health. CNHI is valued correctly, but it does not seem to be growing. Finally CNHI also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

CNHI had positive earnings in the past year.
CNHI had a positive operating cash flow in the past year.
CNHI had positive earnings in 4 of the past 5 years.
Each year in the past 5 years CNHI had a positive operating cash flow.
CNHI Yearly Net Income VS EBIT VS OCF VS FCFCNHI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B 2B 3B 4B

1.2 Ratios

CNHI has a Return On Assets of 5.01%. This is comparable to the rest of the industry: CNHI outperforms 59.23% of its industry peers.
The Return On Equity of CNHI (28.79%) is better than 90.77% of its industry peers.
Looking at the Return On Invested Capital, with a value of 10.21%, CNHI is in the better half of the industry, outperforming 70.00% of the companies in the same industry.
CNHI had an Average Return On Invested Capital over the past 3 years of 10.87%. This is in line with the industry average of 10.54%.
Industry RankSector Rank
ROA 5.01%
ROE 28.79%
ROIC 10.21%
ROA(3y)4.58%
ROA(5y)2.81%
ROE(3y)27.98%
ROE(5y)16.77%
ROIC(3y)10.87%
ROIC(5y)7.89%
CNHI Yearly ROA, ROE, ROICCNHI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20

1.3 Margins

CNHI's Profit Margin of 9.48% is fine compared to the rest of the industry. CNHI outperforms 71.54% of its industry peers.
In the last couple of years the Profit Margin of CNHI has grown nicely.
CNHI has a better Operating Margin (20.14%) than 90.00% of its industry peers.
CNHI's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 32.04%, CNHI is in the better half of the industry, outperforming 61.54% of the companies in the same industry.
CNHI's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 20.14%
PM (TTM) 9.48%
GM 32.04%
OM growth 3Y70.97%
OM growth 5Y23.85%
PM growth 3YN/A
PM growth 5Y15.86%
GM growth 3Y24.71%
GM growth 5Y11%
CNHI Yearly Profit, Operating, Gross MarginsCNHI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 20 30

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1

2. Health

2.1 Basic Checks

CNHI has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
Compared to 1 year ago, CNHI has less shares outstanding
The number of shares outstanding for CNHI has been reduced compared to 5 years ago.
CNHI has a worse debt/assets ratio than last year.
CNHI Yearly Shares OutstandingCNHI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B
CNHI Yearly Total Debt VS Total AssetsCNHI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 10B 20B 30B 40B 50B

2.2 Solvency

CNHI has a Debt/Equity ratio of 3.49. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 3.49, CNHI is doing worse than 93.85% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 3.49
Debt/FCF N/A
Altman-Z N/A
ROIC/WACC1.54
WACC6.65%
CNHI Yearly LT Debt VS Equity VS FCFCNHI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5B 10B 15B 20B 25B

2.3 Liquidity

A Current Ratio of 0.97 indicates that CNHI may have some problems paying its short term obligations.
The Current ratio of CNHI (0.97) is worse than 89.23% of its industry peers.
CNHI has a Quick Ratio of 0.97. This is a bad value and indicates that CNHI is not financially healthy enough and could expect problems in meeting its short term obligations.
CNHI has a Quick ratio of 0.35. This is amonst the worse of the industry: CNHI underperforms 93.85% of its industry peers.
Industry RankSector Rank
Current Ratio 0.97
Quick Ratio 0.35
CNHI Yearly Current Assets VS Current LiabilitesCNHI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 10B 20B 30B

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3

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 9.03% over the past year.
CNHI shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.41% yearly.
Looking at the last year, CNHI shows a small growth in Revenue. The Revenue has grown by 0.10% in the last year.
CNHI shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -3.65% yearly.
EPS 1Y (TTM)9.03%
EPS 3Y82.79%
EPS 5Y16.41%
EPS Q2Q%-5.71%
Revenue 1Y (TTM)0.1%
Revenue growth 3Y18.87%
Revenue growth 5Y-3.65%
Sales Q2Q%-9.81%

3.2 Future

CNHI is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -0.20% yearly.
Based on estimates for the next years, CNHI will show a small growth in Revenue. The Revenue will grow by 4.42% on average per year.
EPS Next Y-12.33%
EPS Next 2Y-5.28%
EPS Next 3Y-1.79%
EPS Next 5Y-0.2%
Revenue Next Year-11.03%
Revenue Next 2Y-5.94%
Revenue Next 3Y-1.35%
Revenue Next 5Y4.42%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
CNHI Yearly Revenue VS EstimatesCNHI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 10B 20B 30B
CNHI Yearly EPS VS EstimatesCNHI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.5 1 1.5

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4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 6.78 indicates a rather cheap valuation of CNHI.
CNHI's Price/Earnings ratio is rather cheap when compared to the industry. CNHI is cheaper than 94.62% of the companies in the same industry.
CNHI is valuated cheaply when we compare the Price/Earnings ratio to 26.76, which is the current average of the S&P500 Index.
CNHI is valuated cheaply with a Price/Forward Earnings ratio of 7.46.
CNHI's Price/Forward Earnings ratio is rather cheap when compared to the industry. CNHI is cheaper than 95.38% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 34.91, CNHI is valued rather cheaply.
Industry RankSector Rank
PE 6.78
Fwd PE 7.46
CNHI Price Earnings VS Forward Price EarningsCNHI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

CNHI's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. CNHI is cheaper than 89.23% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 7.18
CNHI Per share dataCNHI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

4.3 Compensation for Growth

CNHI has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.41
EPS Next 2Y-5.28%
EPS Next 3Y-1.79%

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5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.10%, CNHI is a good candidate for dividend investing.
CNHI's Dividend Yield is rather good when compared to the industry average which is at 1.86. CNHI pays more dividend than 97.69% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.36, CNHI pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.1%

5.2 History

On average, the dividend of CNHI grows each year by 17.96%, which is quite nice.
CNHI has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)17.96%
Div Incr Years0
Div Non Decr Years0
CNHI Yearly Dividends per shareCNHI Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2021 2022 2023 2024 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

CNHI pays out 23.54% of its income as dividend. This is a sustainable payout ratio.
DP23.54%
EPS Next 2Y-5.28%
EPS Next 3Y-1.79%
CNHI Yearly Income VS Free CF VS DividendCNHI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B 2B
CNHI Dividend Payout.CNHI Dividend Payout, showing the Payout Ratio.CNHI Dividend Payout.PayoutRetained Earnings

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CNH INDUSTRIAL NV

NYSE:CNHI (5/17/2024, 8:04:00 PM)

After market: 11.4013 -0.05 (-0.43%)

11.45

-0.07 (-0.61%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryMachinery
Earnings (Last)05-02 2024-05-02/bmo
Earnings (Next)07-26 2024-07-26/bmo
Inst Owners66.17%
Inst Owner Change-3.47%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap14.40B
Analysts74.17
Price Target15.26 (33.28%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.1%
Yearly Dividend0.41
Dividend Growth(5Y)17.96%
DP23.54%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)10.64%
Min EPS beat(2)-2.64%
Max EPS beat(2)23.92%
EPS beat(4)2
Avg EPS beat(4)5.58%
Min EPS beat(4)-4.26%
Max EPS beat(4)23.92%
EPS beat(8)5
Avg EPS beat(8)8.73%
EPS beat(12)9
Avg EPS beat(12)17.04%
EPS beat(16)13
Avg EPS beat(16)59.04%
Revenue beat(2)1
Avg Revenue beat(2)4.68%
Min Revenue beat(2)-0.04%
Max Revenue beat(2)9.4%
Revenue beat(4)1
Avg Revenue beat(4)1.99%
Min Revenue beat(4)-0.73%
Max Revenue beat(4)9.4%
Revenue beat(8)5
Avg Revenue beat(8)5.44%
Revenue beat(12)6
Avg Revenue beat(12)21.87%
Revenue beat(16)9
Avg Revenue beat(16)22.73%
PT rev (1m)-4.23%
PT rev (3m)-2.27%
EPS NQ rev (1m)-10.1%
EPS NQ rev (3m)-11.92%
EPS NY rev (1m)-5.19%
EPS NY rev (3m)-3.03%
Revenue NQ rev (1m)-3.76%
Revenue NQ rev (3m)-5.45%
Revenue NY rev (1m)-1.75%
Revenue NY rev (3m)-3.14%
Valuation
Industry RankSector Rank
PE 6.78
Fwd PE 7.46
P/S 0.6
P/FCF N/A
P/OCF 34.45
P/B 1.81
P/tB 4.66
EV/EBITDA 7.18
EPS(TTM)1.69
EY14.76%
EPS(NY)1.53
Fwd EY13.4%
FCF(TTM)-0.67
FCFYN/A
OCF(TTM)0.33
OCFY2.9%
SpS19.22
BVpS6.33
TBVpS2.45
PEG (NY)N/A
PEG (5Y)0.41
Profitability
Industry RankSector Rank
ROA 5.01%
ROE 28.79%
ROCE 13.6%
ROIC 10.21%
ROICexc 11.23%
ROICexgc 14.85%
OM 20.14%
PM (TTM) 9.48%
GM 32.04%
FCFM N/A
ROA(3y)4.58%
ROA(5y)2.81%
ROE(3y)27.98%
ROE(5y)16.77%
ROIC(3y)10.87%
ROIC(5y)7.89%
ROICexc(3y)13.08%
ROICexc(5y)9.6%
ROICexgc(3y)21.77%
ROICexgc(5y)15.39%
ROCE(3y)14.48%
ROCE(5y)10.51%
ROICexcg growth 3Y80.95%
ROICexcg growth 5Y15.73%
ROICexc growth 3Y83.39%
ROICexc growth 5Y16.26%
OM growth 3Y70.97%
OM growth 5Y23.85%
PM growth 3YN/A
PM growth 5Y15.86%
GM growth 3Y24.71%
GM growth 5Y11%
F-ScoreN/A
Asset Turnover0.53
Health
Industry RankSector Rank
Debt/Equity 3.49
Debt/FCF N/A
Debt/EBITDA 5.12
Cap/Depr 224.82%
Cap/Sales 5.21%
Interest Coverage 250
Cash Conversion 7.7%
Profit Quality N/A
Current Ratio 0.97
Quick Ratio 0.35
Altman-Z N/A
F-ScoreN/A
WACC6.65%
ROIC/WACC1.54
Cap/Depr(3y)191.9%
Cap/Depr(5y)146.15%
Cap/Sales(3y)6.5%
Cap/Sales(5y)5.81%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)9.03%
EPS 3Y82.79%
EPS 5Y16.41%
EPS Q2Q%-5.71%
EPS Next Y-12.33%
EPS Next 2Y-5.28%
EPS Next 3Y-1.79%
EPS Next 5Y-0.2%
Revenue 1Y (TTM)0.1%
Revenue growth 3Y18.87%
Revenue growth 5Y-3.65%
Sales Q2Q%-9.81%
Revenue Next Year-11.03%
Revenue Next 2Y-5.94%
Revenue Next 3Y-1.35%
Revenue Next 5Y4.42%
EBIT growth 1Y64.87%
EBIT growth 3Y103.24%
EBIT growth 5Y19.33%
EBIT Next Year-0.4%
EBIT Next 3Y1.17%
EBIT Next 5Y-0.44%
FCF growth 1Y-143.37%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-82.54%
OCF growth 3Y-36.11%
OCF growth 5Y-14%