Titan International, Inc. (TWI) Income Statement
TWI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTWI revenue and net income
Where TWI's revenue goes
2025Each bar shows an amount and its share of revenue. TWI kept −3.5% of revenue as net income.
TWI profit margins
TWI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −0.9% | −5.5% | +7.7% | +2.7% |
| Gross profit | −6.0% | −12.4% | +16.2% | +5.8% |
| Operating income | −37.4% | −53.4% | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | −182.8% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TWI quarterly EPS vs estimates
Titan International beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: October 29, 2026 (estimate $-0.05).
TWI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.83B | $1.85B | $1.82B | $2.17B | $1.78B | $1.26B | $1.45B | $1.60B | $1.47B | $1.27B |
| Cost of revenue | $1.59B | $1.59B | $1.52B | $1.81B | $1.54B | $1.14B | $1.32B | $1.40B | $1.31B | $1.12B |
| Gross profit | $242.4M | $257.8M | $305.8M | $360.7M | $237.5M | $114.3M | $129.0M | $198.3M | $158.3M | $142.5M |
| Research & development | $18.3M | $16.5M | $12.5M | $10.4M | $10.1M | $9.0M | $9.9M | $11.1M | $10.3M | $10.0M |
| Sales, general & admin | $201.6M | $190.6M | $134.9M | $132.8M | $131.8M | $130.9M | $137.7M | $134.8M | $150.7M | $145.0M |
| Total operating expenses | $221.6M | $224.6M | $157.1M | $154.9M | $152.4M | $149.7M | $157.4M | $156.0M | $171.5M | $163.8M |
| Operating income | $20.8M | $33.2M | $148.7M | $205.8M | $85.2M | −$35.4M | −$28.4M | $42.2M | −$13.2M | −$21.3M |
| Interest income | $10.7M | $11.0M | $10.4M | $28.0M | $19.4M | $40.9M | $1.1M | $2.1M | $3.4M | $3.2M |
| Interest expense | $38.7M | $36.4M | $18.8M | $32.1M | $32.2M | $30.6M | $33.1M | $30.5M | $30.2M | $32.5M |
| Income before taxes | −$11.3M | $8.3M | $109.7M | $202.4M | $51.0M | −$58.1M | −$48.0M | $19.8M | −$52.9M | −$32.9M |
| Income taxes | $49.9M | $11.9M | $26.0M | $23.2M | $1.1M | $6.9M | $3.5M | $6.8M | $11.2M | $3.3M |
| Net income | −$63.5M | −$5.6M | $78.8M | $176.3M | $49.6M | −$60.4M | −$48.4M | $16.1M | −$60.0M | −$34.0M |
| EBITDA | $94.5M | $105.4M | $171.0M | $274.9M | $131.3M | $27.1M | $38.3M | $107.9M | $35.8M | $55.8M |
| EPS (diluted) | −$0.24 | $0.29 | $1.59 | $2.21 | $0.85 | −$0.81 | −$0.78 | $0.16 | −$0.48 | −$0.63 |
| Gross margin | 13.3% | 14.0% | 16.8% | 16.6% | 13.3% | 9.1% | 8.9% | 12.4% | 10.8% | 11.3% |
| Operating margin | 1.1% | 1.8% | 8.2% | 9.5% | 4.8% | −2.8% | −2.0% | 2.6% | −0.9% | −1.7% |
| Net margin | −3.5% | −0.3% | 4.3% | 8.1% | 2.8% | −4.8% | −3.3% | 1.0% | −4.1% | −2.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $484.8M | $505.1M | $410.4M | $466.5M | $460.8M | $490.7M | $383.6M | $448.0M | $532.2M | $482.2M | $390.2M | $401.8M |
| Cost of revenue | $409.8M | $433.6M | $369.0M | $398.9M | $391.6M | $422.1M | $342.4M | $389.2M | $451.7M | $404.8M | $331.9M | $335.7M |
| Gross profit | $74.9M | $71.4M | $41.4M | $67.6M | $69.3M | $68.6M | $41.2M | $58.8M | $80.4M | $77.4M | $58.3M | $66.1M |
| Research & development | $5.4M | $5.3M | $4.9M | $4.5M | $4.3M | $4.5M | $4.4M | $4.2M | $4.2M | $3.7M | $3.1M | $3.2M |
| Sales, general & admin | $52.7M | $52.4M | $47.9M | $53.1M | $52.4M | $49.9M | $51.3M | $49.5M | $51.6M | $39.4M | $32.0M | $33.6M |
| Total operating expenses | $61.6M | $60.1M | $52.4M | $57.8M | $59.1M | $56.8M | $58.2M | $56.0M | $58.1M | $52.3M | $37.6M | $39.1M |
| Operating income | $13.3M | $11.4M | −$10.9M | $9.7M | $10.2M | $11.8M | −$17.0M | $2.8M | $22.3M | $25.1M | $20.7M | $27.0M |
| Interest income | $2.5M | $2.2M | $3.0M | $3.0M | $2.5M | $2.2M | $2.5M | $3.1M | $2.5M | $2.9M | — | $2.8M |
| Interest expense | $10.0M | $9.9M | $9.8M | $9.7M | $9.7M | $9.5M | $9.3M | $9.0M | $7.2M | $5.5M | $2.6M | $7.2M |
| Income before taxes | $6.3M | −$19.6M | −$15.2M | −$1.4M | $1.1M | $4.3M | −$25.0M | −$5.3M | $18.9M | $19.7M | −$3.6M | $24.4M |
| Income taxes | −$4,000 | $4.6M | $39.9M | $1.1M | $4.7M | $4.2M | −$26.2M | $12.9M | $15.5M | $9.7M | −$2.3M | $4.7M |
| Net income | $5.8M | −$24.2M | −$56.0M | −$2.3M | −$4.5M | −$649,000 | $1.3M | −$18.2M | $2.1M | $9.2M | −$2.6M | $19.3M |
| EBITDA | $33.6M | $7.3M | $5.6M | $25.1M | $27.4M | $29.7M | $4.9M | $16.4M | $41.5M | $40.1M | $9.8M | $41.6M |
| EPS (diluted) | $0.10 | −$0.38 | −$0.27 | $0.04 | −$0.02 | $0.01 | $0.09 | −$0.19 | $0.10 | $0.29 | $0.34 | $0.29 |
| Gross margin | 15.5% | 14.1% | 10.1% | 14.5% | 15.0% | 14.0% | 10.7% | 13.1% | 15.1% | 16.0% | 14.9% | 16.4% |
| Operating margin | 2.7% | 2.2% | −2.7% | 2.1% | 2.2% | 2.4% | −4.4% | 0.6% | 4.2% | 5.2% | 5.3% | 6.7% |
| Net margin | 1.2% | −4.8% | −13.7% | −0.5% | −1.0% | −0.1% | 0.3% | −4.1% | 0.4% | 1.9% | −0.7% | 4.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TWI's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TWI financial results
In fiscal year 2025 (ended December 31, 2025), Titan International reported revenue of $1.8 billion, down 0.9% from the year before. It had a net loss of $63.5 million, a net profit margin of −3.5%. Diluted earnings per share came to −$0.24. Over five years revenue grew at an average rate of 7.7% a year.
See the TWI stock overview for the latest quote and news, or the TWI chart for price history and technical indicators.
TWI income statement FAQ
What is Titan International's annual revenue?
Titan International reported total revenue of $1.8 billion for fiscal year 2025, which ended on December 31, 2025. That was down 0.9% from $1.8 billion the previous year.
Is Titan International profitable?
No. Titan International reported a net loss of $63.5 million in fiscal 2025, a net profit margin of −3.5%; its operating margin was 1.1%.
What is Titan International's gross margin?
Titan International's gross margin was 13.3% in fiscal 2025: for every $100 of revenue, Titan International kept $13 after the direct cost of its products and services.
How much does Titan International spend on research and development?
Titan International spent $18.3 million on research and development in fiscal 2025, 1.0% of revenue.
How fast is Titan International growing?
Revenue grew 7.7% a year on average over the last five fiscal years, from $1.3 billion to $1.8 billion.
What are Titan International's earnings per share?
Titan International earned $-0.24 per diluted share in fiscal 2025, compared with $0.29 a year earlier.
When will Titan International report its next earnings?
Titan International is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Titan International's fiscal year end?
Titan International's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.