Titan Machinery
TITN on Nasdaq. Titan Machinery sells farm and construction equipment and parts to farmers and builders. Market value $596m.
Price checks use the past 12 months to July 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to January 2026.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
See cheaper Retail & consumer stocks on the list
This is not advice. Check the numbers below.
We could not compute this from the filings.
The filings do not give us enough to work this out.
Each dollar kept in the business earns 18 cents a year. Above 10 is good.
Quality score: 77 of 100. Price score: 16 of 100. Our list needs 70 on quality and 60 on price.
$25.33 a share, 92% above its 1-year low
Over the past year the price has ranged from $13.21 to $26.90.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $1.7bn | $2.2bn | $2.8bn | $2.7bn | $2.4bn |
| Operating margin | |||||
| Operating margin | 5.3% | 6.3% | 6.1% | 0.1% | -0.3% |
| Debt to equity | |||||
| Debt to equity | 0.21 | 0.19 | 0.19 | 0.35 | 0.40 |
| Shares outstanding | |||||
| Shares outstanding | 0.02bn | 0.02bn | 0.02bn | 0.02bn | 0.02bn |
Health checks
- Free cash flow positiveNot enough data
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)5 of 9
- Profit backed by cash (accruals)No
- Debt0.40× equity
- Revenue growth, five yearsStrong, 11.5% a year
- Buying back its own sharesRoughly flat
The quarter to July 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $496 million last quarter, down 9% on a year ago.
- A loss of $9 million, compared with a loss of $6 million a year ago.
- It keeps 0 cents of each $1 of sales as operating profit, after losing 2 cents a year earlier.
- 1% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $181 million more than cash, up from $176 million a year ago.
- Sales did not grow on a year ago in any of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| October 2024 | $680m |
| January 2025 | $760m |
| April 2025 | $594m |
| July 2025 | $546m |
| October 2025 | $645m |
| January 2026 | $642m |
| April 2026 | $522m |
| July 2026 | $496m |
| Quarter to | Amount |
|---|---|
| October 2024 | $2m |
| January 2025 | -$44m |
| April 2025 | -$13m |
| July 2025 | -$6m |
| October 2025 | $1m |
| January 2026 | -$36m |
| April 2026 | -$13m |
| July 2026 | -$9m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 31 March 2026
- Next quarterly (estimated, 10-Q)
- 3 December 2026
Who owns it
5 long-term investors we follow own it, unchanged from 5 last quarter. 123 funds in all.
- Hotchkis & WileyHotchkis & Wiley team
- Value
- $10m
- Share of fund
- <0.1%
- GAMCO InvestorsMario Gabelli
- Value
- $6m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| First Eagle Investment ManagementMatthew McLennan | $33m | <0.1% | Added |
| Royce & AssociatesChuck Royce | $24m | 0.2% | Added |
| Hotchkis & WileyHotchkis & Wiley team | $10m | <0.1% | |
| GAMCO InvestorsMario Gabelli | $6m | <0.1% | |
| Boston PartnersBoston Partners team | $364,020 | <0.1% | Cut |
Largest holders overall
- Mirae Asset Global Etfs Holdings$52mAdded
- Nantahala Capital Management$48mAdded
- BlackRock$35mAdded
- First Eagle Investment Management$33mAdded
- Jupiter Topco$24m
- Royce & Associates$24mAdded
- Dimensional Fund Advisors LP$21mCut
- American Century Companies$20mAdded
- Vanguard Capital Management$19m
- Morgan Stanley$15m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- Global X Management CO LLCPassive investor10.2%+0.6 ptsSince 31 May 2026
- BlackRock, Inc.Passive investor6.5%Since 30 September 2025
- Nantahala Capital Management, LLCPassive investorat least 4.9%(filed with 2 related holders)Since 30 June 2025
- American Century Investment Management, Inc.Passive investorat least 4.9%(filed with 2 related holders)Since 30 September 2025
- Dimensional Fund Advisors LPPassive investorSold down below 5%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Global X Management CO LLC Passive investor | 10.2%+0.6 pts | 31 May 2026 | |
BlackRock, Inc. Passive investor | 6.5% | 30 September 2025 | |
Nantahala Capital Management, LLC Passive investor | at least 4.9% (filed with 2 related holders) | 30 June 2025 | |
American Century Investment Management, Inc. Passive investor | at least 4.9% (filed with 2 related holders) | 30 September 2025 | |
Dimensional Fund Advisors LP Passive investor | Sold down below 5% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.