CNH Industrial NV (CNH) Income Statement
CNH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCNH revenue and net income
Where CNH's revenue goes
2025Each bar shows an amount and its share of revenue. CNH kept 2.8% of revenue as net income.
CNH profit margins
CNH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −8.8% | −8.4% | +4.1% | −3.5% |
| Gross profit | −12.0% | −6.5% | +9.5% | +0.3% |
| Operating income | −27.7% | −13.9% | +8.7% | +1.6% |
| Net income | −59.1% | −36.9% | — | +7.3% |
| EPS (diluted) | −50.9% | −28.5% | +14.0% | +4.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CNH quarterly EPS vs estimates
CNH Industrial beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 6, 2026 (estimate $0.10).
CNH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $18.09B | $19.84B | $24.69B | $23.55B | $19.49B | $14.78B | $28.08B | $29.71B | $27.70B | $25.09B |
| Cost of revenue | $12.39B | $13.35B | $16.84B | $16.58B | $14.10B | $11.15B | $21.76B | $23.23B | $21.83B | $19.78B |
| Gross profit | $5.71B | $6.49B | $7.85B | $6.97B | $5.40B | $3.63B | $6.32B | $6.48B | $5.87B | $5.04B |
| Research & development | $1.02B | $924.0M | $1.04B | $866.0M | $642.0M | $493.0M | $1.03B | $1.06B | $957.0M | $860.0M |
| Sales, general & admin | $1.88B | $1.71B | $1.86B | $1.75B | $1.45B | $1.30B | — | — | — | — |
| Total operating expenses | $2.92B | $2.64B | $2.90B | $2.62B | $2.10B | $1.79B | $3.00B | $3.16B | $2.97B | $3.12B |
| Operating income | $2.78B | $3.85B | $4.95B | $4.36B | $3.30B | $1.84B | $3.32B | $3.33B | $2.90B | $1.92B |
| Interest income | $1.48B | $1.57B | $1.31B | $585.0M | — | — | — | — | — | — |
| Interest expense | $1.48B | $1.61B | $1.34B | $734.0M | $549.0M | $660.0M | $798.0M | $812.0M | $884.0M | $1.02B |
| Income before taxes | $689.0M | $1.59B | $2.88B | $2.79B | $2.03B | −$113.0M | $1.18B | $1.52B | $747.0M | $49.0M |
| Income taxes | $184.0M | $336.0M | $594.0M | $747.0M | $229.0M | $85.0M | −$271.0M | $417.0M | $457.0M | $298.0M |
| Net income | $510.0M | $1.25B | $2.27B | $2.03B | $1.72B | −$493.0M | $1.42B | $1.07B | $272.0M | −$252.0M |
| EBITDA | $2.80B | $3.67B | $4.61B | $3.88B | $2.98B | $1.02B | $3.18B | $4.67B | $4.25B | $2.28B |
| EPS (diluted) | $0.54 | $1.10 | $1.71 | $1.48 | $1.35 | $0.28 | $0.85 | $0.79 | $0.48 | −$0.03 |
| Gross margin | 31.5% | 32.7% | 31.8% | 29.6% | 27.7% | 24.5% | 22.5% | 21.8% | 21.2% | 20.1% |
| Operating margin | 15.4% | 19.4% | 20.0% | 18.5% | 16.9% | 12.4% | 11.8% | 11.2% | 10.5% | 7.6% |
| Net margin | 2.8% | 6.3% | 9.2% | 8.6% | 8.8% | −3.3% | 5.1% | 3.6% | 1.0% | −1.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.80B | $3.83B | $5.16B | $4.40B | $4.71B | $3.83B | $4.88B | $4.65B | $5.49B | $4.82B | $6.79B | $5.99B |
| Cost of revenue | $3.40B | $2.60B | $3.64B | $2.98B | $3.19B | $2.56B | $3.32B | $3.13B | $3.70B | $3.19B | $4.71B | $4.06B |
| Gross profit | $1.41B | $1.22B | $1.52B | $1.42B | $1.52B | $1.27B | $1.55B | $1.52B | $1.79B | $1.62B | $2.09B | $1.93B |
| Research & development | $230.0M | $232.0M | $342.0M | $281.0M | $218.0M | $184.0M | $238.0M | $221.0M | $237.0M | $228.0M | $275.0M | $266.0M |
| Sales, general & admin | $494.0M | $465.0M | $463.0M | $549.0M | $478.0M | $386.0M | $414.0M | $426.0M | $461.0M | $411.0M | $478.0M | $462.0M |
| Total operating expenses | $751.0M | $697.0M | $805.0M | $830.0M | $696.0M | $570.0M | $652.0M | $647.0M | $698.0M | $639.0M | $753.0M | $728.0M |
| Operating income | $656.0M | $524.0M | $714.0M | $589.0M | $823.0M | $699.0M | $901.0M | $877.0M | $1.09B | $984.0M | $1.33B | $1.20B |
| Interest income | — | — | $382.0M | $372.0M | $360.0M | $356.0M | $401.0M | $372.0M | — | — | — | — |
| Interest expense | $372.0M | $365.0M | $385.0M | $398.0M | $360.0M | $391.0M | $421.0M | $378.0M | $418.0M | $394.0M | $404.0M | $346.0M |
| Income before taxes | $172.0M | $14.0M | $149.0M | $68.0M | $293.0M | $179.0M | $265.0M | $385.0M | $499.0M | $446.0M | $675.0M | $711.0M |
| Income taxes | −$43.0M | $4.0M | $60.0M | $1.0M | $76.0M | $47.0M | $89.0M | $75.0M | $95.0M | $77.0M | $58.0M | $171.0M |
| Net income | $138.0M | $7.0M | $86.0M | $80.0M | $213.0M | $131.0M | $173.0M | $306.0M | $399.0M | $368.0M | $616.0M | $537.0M |
| EBITDA | $710.0M | $545.0M | $698.0M | $625.0M | $809.0M | $720.0M | $813.0M | $893.0M | $1.02B | $944.0M | $1.13B | $1.15B |
| EPS (diluted) | $0.13 | $0.01 | $0.19 | $0.08 | $0.17 | $0.10 | $0.15 | $0.24 | $0.38 | $0.33 | $0.42 | $0.42 |
| Gross margin | 29.3% | 31.9% | 29.4% | 32.3% | 32.2% | 33.1% | 31.8% | 32.7% | 32.5% | 33.7% | 30.7% | 32.2% |
| Operating margin | 13.7% | 13.7% | 13.8% | 13.4% | 17.5% | 18.3% | 18.5% | 18.8% | 19.8% | 20.4% | 19.6% | 20.0% |
| Net margin | 2.9% | 0.2% | 1.7% | 1.8% | 4.5% | 3.4% | 3.5% | 6.6% | 7.3% | 7.6% | 9.1% | 9.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CNH's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CNH financial results
In fiscal year 2025 (ended December 31, 2025), CNH Industrial reported revenue of $18.1 billion, down 8.8% from the year before. It had net income of $510.0 million (down 59.1%), a net profit margin of 2.8%. Diluted earnings per share came to $0.54. Over five years revenue grew at an average rate of 4.1% a year.
See the CNH stock overview for the latest quote and news, or the CNH chart for price history and technical indicators.
CNH income statement FAQ
What is CNH Industrial's annual revenue?
CNH Industrial reported total revenue of $18.1 billion for fiscal year 2025, which ended on December 31, 2025. That was down 8.8% from $19.8 billion the previous year.
Is CNH Industrial profitable?
Yes. CNH Industrial reported net income of $510.0 million in fiscal 2025, a net profit margin of 2.8%; its operating margin was 15.4%.
What is CNH Industrial's gross margin?
CNH Industrial's gross margin was 31.5% in fiscal 2025: for every $100 of revenue, CNH Industrial kept $32 after the direct cost of its products and services.
How much does CNH Industrial spend on research and development?
CNH Industrial spent $1.0 billion on research and development in fiscal 2025, 5.7% of revenue.
How fast is CNH Industrial growing?
Revenue grew 4.1% a year on average over the last five fiscal years, from $14.8 billion to $18.1 billion.
What are CNH Industrial's earnings per share?
CNH Industrial earned $0.54 per diluted share in fiscal 2025, compared with $1.10 a year earlier.
When will CNH Industrial report its next earnings?
CNH Industrial is expected to report results for the quarter ending September 30, 2026 on November 6, 2026.
When does CNH Industrial's fiscal year end?
CNH Industrial's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.