Terex Corporation (TEX) Balance Sheet
TEX balance sheet, 2025
December 31, 2025 · U.S. dollars$6.14B assets = $4.04B liabilities + $2.10B equity
Both columns are drawn to the same scale: what TEX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TEX financial health
Current ratio2.30
Comfortable · current assets cover current liabilities 2.30×
Debt / equity1.34
Moderate leverage · $1.34 of debt for each $1 of equity
Equity / assets34.1%
Balanced · of assets funded by shareholders
Cash / debt27.5%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles34.5%
Acquisition-heavy · of total assets
Descriptive bands, not a rating. Fiscal 2025.
TEX balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $5.01B2016 | $6.14B2025 | +2.3%/yr | |
| Total liabilities | $3.49B2016 | $4.04B2025 | +1.7%/yr | |
| Shareholders’ equity | $1.48B2016 | $2.10B2025 | +3.9%/yr | |
| Cash & short-term investments | $428.5M2016 | $772.0M2025 | +6.8%/yr | |
| Total debt | $1.58B2016 | $2.81B2025 | +6.6%/yr | |
| Net cash (debt) | −$1.15B2016 | −$2.04B2025 | −$889.7M | |
| Working capital | $1.29B2016 | $1.54B2025 | +$244.5M | |
| Book value per share | $13.762016 | $31.602025 | +9.7%/yr | |
| Current ratio | 1.922016 | 2.302025 | +0.38 | |
| Debt / equity | 1.062016 | 1.342025 | +0.28 | |
| Shares outstanding | 107.9M2016 | 66.3M2025 | −5.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TEX assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
TEX liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
TEX debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TEX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $772.0M | $388.0M | $371.0M | $304.1M | $266.9M | $665.0M | $535.1M | $368.0M | $626.5M | $428.5M |
| Cash & equivalents | $772.0M | $388.0M | $371.0M | $304.1M | $266.9M | $665.0M | $535.1M | $368.0M | $626.5M | $428.5M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $730.0M | $643.0M | $548.0M | $547.5M | $507.7M | $476.4M | $478.2M | $607.0M | $579.9M | $512.5M |
| Inventory | $1.11B | $1.15B | $1.19B | $988.4M | $813.5M | $610.4M | $847.7M | $1.21B | $969.6M | $853.8M |
| Other current assets | $114.0M | $142.0M | $140.0M | $122.0M | $179.7M | $126.8M | $158.7M | $236.0M | $207.0M | $905.7M |
| Total current assets | $2.73B | $2.32B | $2.25B | $1.96B | $1.77B | $1.88B | $2.02B | $2.42B | $2.38B | $2.70B |
| Property, plant & equipment (net) | $886.0M | $714.0M | $696.0M | $465.6M | $528.8M | $509.5M | $512.3M | $345.6M | $311.0M | $304.6M |
| Goodwill & intangible assets | $2.12B | $2.20B | $311.0M | $301.8M | $293.5M | $283.7M | $279.6M | $278.4M | $287.4M | $278.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $410.0M | $496.0M | $363.0M | $388.7M | $273.4M | $360.0M | $384.0M | $438.9M | $481.1M | $1.72B |
| Total assets | $6.14B | $5.73B | $3.62B | $3.12B | $2.86B | $3.03B | $3.20B | $3.49B | $3.46B | $5.01B |
| Liabilities | ||||||||||
| Accounts payable | $683.0M | $580.0M | $703.0M | $624.6M | $537.7M | $369.9M | $508.1M | $687.2M | $592.4M | $522.7M |
| Short-term debt | $39.0M | $35.0M | $31.0M | $28.2M | $25.8M | $32.4M | $32.8M | $4.1M | $5.2M | $13.8M |
| Deferred revenue | $21.0M | — | $135.6M | — | −$537.7M | −$369.9M | −$508.1M | −$788.2M | −$592.4M | $186.3M |
| Total current liabilities | $1.19B | $1.07B | $1.12B | $998.6M | $909.9M | $723.3M | $872.4M | $1.21B | $1.04B | $1.41B |
| Long-term debt | $2.58B | $2.58B | $620.4M | $773.6M | $668.5M | $1.17B | $1.17B | $1.21B | $979.6M | $1.56B |
| Other long-term liabilities | $279.0M | $245.0M | $203.6M | $164.7M | $175.5M | $220.8M | $222.1M | $195.5M | $224.9M | $516.6M |
| Total liabilities | $4.04B | $3.90B | $1.94B | $1.94B | $1.75B | $2.11B | $2.26B | $2.62B | $2.24B | $3.49B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.0M | $1.0M | $1.0M | $900,000 | $900,000 | $900,000 | $800,000 | $800,000 | $1.32B | $1.30B |
| Retained earnings (deficit) | $2.14B | $1.96B | $1.68B | $1.20B | $936.9M | $750.3M | $771.4M | $749.0M | $2.00B | $1.90B |
| Treasury stock | — | — | — | −$560.3M | −$459.7M | −$459.2M | −$406.8M | −$401.8M | −$1.86B | −$935.1M |
| Accumulated other comprehensive income | −$265.0M | −$382.0M | −$287.0M | −$341.6M | −$228.5M | −$208.4M | −$257.5M | −$284.8M | −$239.5M | −$779.4M |
| Minority interest | — | — | — | — | — | — | — | $500,000 | $500,000 | $36.5M |
| Total shareholders' equity | $2.10B | $1.83B | $1.67B | $1.18B | $1.11B | $921.5M | $932.3M | $861.0M | $1.19B | $1.48B |
| Key figures | ||||||||||
| Total debt | $2.81B | $2.72B | $743.0M | $864.6M | $767.4M | $1.28B | $1.31B | $1.22B | $984.8M | $1.58B |
| Net cash (debt) | −$2.04B | −$2.33B | −$372.0M | −$560.5M | −$500.5M | −$616.5M | −$771.2M | −$851.4M | −$358.3M | −$1.15B |
| Working capital | $1.54B | $1.25B | $1.13B | $963.4M | $857.9M | $1.16B | $1.15B | $1.21B | $1.35B | $1.29B |
| Tangible book value | −$23.0M | −$368.0M | $1.36B | $879.4M | $816.1M | $637.8M | $652.7M | $582.6M | $898.6M | $1.21B |
| Book value per share | $31.60 | $27.10 | $24.48 | $17.02 | $15.65 | $13.15 | $12.98 | $11.20 | $12.50 | $13.76 |
| Shares outstanding | 66.3M | 67.6M | 68.3M | 69.4M | 70.9M | 70.1M | 71.8M | 76.9M | 94.9M | 107.9M |
| Current ratio | 2.30 | 2.16 | 2.01 | 1.96 | 1.94 | 2.60 | 2.32 | 1.99 | 2.30 | 1.92 |
| Quick ratio | 1.27 | 0.96 | 0.82 | 0.85 | 0.85 | 1.58 | 1.16 | 0.80 | 1.17 | 0.67 |
| Debt / equity | 1.34 | 1.48 | 0.44 | 0.73 | 0.69 | 1.39 | 1.40 | 1.42 | 0.83 | 1.06 |
| Equity / assets | 34.1% | 32.0% | 46.3% | 37.9% | 38.7% | 30.4% | 29.2% | 24.7% | 34.3% | 29.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $407.0M | $392.0M | $772.0M | $509.0M | $374.0M | $298.0M | $388.0M | $352.0M | $319.3M | $364.9M | $370.7M | $352.3M |
| Cash & equivalents | $407.0M | $392.0M | $772.0M | $509.0M | $374.0M | $298.0M | $388.0M | $352.0M | $319.3M | $364.9M | $370.7M | $352.3M |
| Receivables | $1.16B | $970.0M | $730.0M | $821.0M | $904.0M | $783.0M | $643.0M | $670.0M | $719.4M | $685.3M | $547.8M | $645.1M |
| Inventory | $1.66B | $1.66B | $1.11B | $1.21B | $1.25B | $1.20B | $1.15B | $1.22B | $1.23B | $1.22B | $1.19B | $1.12B |
| Other current assets | $156.0M | $153.0M | $114.0M | $206.0M | $151.0M | $151.0M | $142.0M | $137.0M | $130.1M | $121.8M | $140.7M | $130.1M |
| Total current assets | $3.38B | $3.17B | $2.73B | $2.74B | $2.68B | $2.44B | $2.32B | $2.38B | $2.40B | $2.39B | $2.25B | $2.24B |
| Property, plant & equipment (net) | $966.0M | $935.0M | $886.0M | $738.0M | $742.0M | $720.0M | $714.0M | $602.0M | $574.5M | $573.7M | $569.8M | $500.5M |
| Goodwill & intangible assets | $5.46B | $5.53B | $2.12B | $2.14B | $2.17B | $2.17B | $2.20B | $315.0M | $305.4M | $306.8M | $310.3M | $300.6M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $538.0M | $557.0M | $410.0M | $548.0M | $556.0M | $510.0M | $496.0M | $483.0M | $498.0M | $489.8M | $490.2M | $415.5M |
| Total assets | $10.34B | $10.19B | $6.14B | $6.17B | $6.15B | $5.84B | $5.73B | $3.78B | $3.78B | $3.76B | $3.62B | $3.46B |
| Liabilities | ||||||||||||
| Accounts payable | $1.02B | $931.0M | $683.0M | $696.0M | $766.0M | $668.0M | $580.0M | $593.0M | $703.7M | $699.3M | $702.6M | $668.3M |
| Short-term debt | $4.0M | $4.0M | $39.0M | $13.0M | $10.0M | $4.0M | $35.0M | $4.0M | $3.4M | $3.2M | $31.0M | $2.4M |
| Deferred revenue | $242.0M | $215.0M | $21.0M | — | — | — | — | — | −$703.7M | −$699.3M | $135.6M | −$668.3M |
| Total current liabilities | $1.86B | $1.72B | $1.19B | $1.27B | $1.29B | $1.15B | $1.07B | $996.0M | $1.09B | $1.11B | $1.12B | $1.06B |
| Long-term debt | $2.68B | $2.75B | $2.58B | $2.58B | $2.58B | $2.58B | $2.58B | $624.0M | $662.2M | $720.9M | $620.4M | $706.3M |
| Lease obligations | — | — | — | — | — | — | — | — | — | — | — | $91.4M |
| Other long-term liabilities | $879.0M | $897.0M | $279.0M | $294.0M | $311.0M | $261.0M | $245.0M | $204.0M | $205.5M | $201.9M | $203.6M | $196.5M |
| Total liabilities | $5.42B | $5.37B | $4.04B | $4.15B | $4.19B | $4.00B | $3.90B | $1.82B | $1.96B | $2.03B | $1.94B | $1.96B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $900,000 | $900,000 | $900,000 | $900,000 |
| Retained earnings (deficit) | $2.12B | $2.03B | $2.14B | $2.09B | $2.04B | $1.97B | $1.96B | $1.98B | $1.90B | $1.77B | $1.67B | $1.56B |
| Accumulated other comprehensive income | −$277.0M | −$277.0M | −$265.0M | −$284.0M | −$276.0M | −$350.0M | −$382.0M | −$279.0M | −$342.7M | −$315.9M | −$287.1M | −$357.3M |
| Total shareholders' equity | $4.92B | $4.82B | $2.10B | $2.02B | $1.97B | $1.84B | $1.83B | $1.96B | $1.82B | $1.73B | $1.67B | $1.50B |
| Key figures | ||||||||||||
| Total debt | $2.69B | $2.75B | $2.81B | $2.59B | $2.59B | $2.59B | $2.72B | $628.0M | $665.6M | $724.1M | $743.0M | $800.1M |
| Net cash (debt) | −$2.28B | −$2.36B | −$2.04B | −$2.08B | −$2.22B | −$2.29B | −$2.33B | −$276.0M | −$346.3M | −$359.2M | −$372.3M | −$447.8M |
| Working capital | $1.52B | $1.45B | $1.54B | $1.47B | $1.39B | $1.28B | $1.25B | $1.39B | $1.31B | $1.28B | $1.13B | $1.18B |
| Tangible book value | −$539.0M | −$703.0M | −$23.0M | −$120.0M | −$205.0M | −$330.0M | −$368.0M | $1.64B | $1.52B | $1.43B | $1.36B | $1.20B |
| Book value per share | $43.13 | $50.18 | $31.60 | $30.61 | $29.82 | $27.28 | $27.18 | $29.04 | $26.94 | $25.51 | $24.56 | $21.94 |
| Shares outstanding | 114.2M | 96.1M | 66.3M | 65.9M | 65.9M | 67.6M | 67.4M | 67.4M | 67.7M | 67.9M | 68.1M | 68.2M |
| Current ratio | 1.82 | 1.84 | 2.30 | 2.15 | 2.08 | 2.11 | 2.16 | 2.39 | 2.21 | 2.16 | 2.01 | 2.11 |
| Quick ratio | 0.84 | 0.79 | 1.27 | 1.04 | 0.99 | 0.94 | 0.96 | 1.03 | 0.95 | 0.95 | 0.82 | 0.94 |
| Debt / equity | 0.55 | 0.57 | 1.34 | 1.29 | 1.32 | 1.40 | 1.48 | 0.32 | 0.36 | 0.42 | 0.44 | 0.53 |
| Equity / assets | 47.6% | 47.3% | 34.1% | 32.7% | 31.9% | 31.6% | 32.0% | 51.8% | 48.3% | 46.1% | 46.3% | 43.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 13, 2026); data from EODHD.
TEX financial position
At the end of fiscal 2025 (December 31, 2025), Terex had total assets of $6.1 billion (up 7.1% from a year earlier), total liabilities of $4.0 billion and shareholders' equity of $2.1 billion. It held $772.0 million in cash and short-term investments against $2.8 billion of debt, net debt of $2.0 billion. Its current ratio was 2.30. In the latest quarter (ended June 30, 2026) total assets were $10.3 billion and equity $4.9 billion.
Related: TEX income statement, TEX cash flow statement, TEX key metrics. See the TEX stock overview for the latest quote and news.
TEX balance sheet FAQ
What are Terex's total assets?
Terex reported total assets of $6.1 billion at the end of fiscal 2025 (December 31, 2025), compared with $5.7 billion a year earlier.
How much debt does Terex have?
Terex had $2.8 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.34.
How much cash does Terex have?
Terex held $772.0 million in cash and short-term investments at the end of fiscal 2025; with $2.8 billion of debt that is net debt of $2.0 billion.
What is Terex's book value?
Terex's shareholders' equity (book value) was $2.1 billion at the end of fiscal 2025, or $31.60 per share.
What is Terex's current ratio?
Terex had current assets of $2.7 billion and current liabilities of $1.2 billion, a current ratio of 2.30 (it can cover its short-term obligations).
How much goodwill does Terex have?
Terex carried $2.1 billion of goodwill and intangible assets, 34.5% of total assets, at the end of fiscal 2025.