CNH Industrial NV (CNH) Key Metrics
CNH valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $18.65B
- Enterprise value
- $46.50B
- P/E (TTM)
- 46.4 10-yr median 11.1
- Forward P/E
- 15.5
- PEG ratio
- 0.38
- Price / sales
- 1.0 10-yr median 0.7
- Price / book
- 2.9 10-yr median 2.2
- EV / EBITDA
- 18.5 10-yr median 12.1
- Dividend yield
- 0.66% $0.10 a year
- Beta
- 1.26
CNH key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCNH valuation Price multiples at each fiscal year-end price.
CNH returns How much profit the business earns on the capital it uses.
CNH per-share figures Results divided by the shares outstanding at year-end.
CNH financial health Debt, liquidity and how easily interest is covered.
CNH efficiency & capital use Working capital cycle and where the cash goes.
CNH valuation history
CNH returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CNH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CNH cash returned to shareholders
CNH price vs earnings per share
CNH key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $11.53B | $14.28B | $16.44B | $21.87B | $22.98B | $15.28B | $12.94B | $10.89B | $15.92B | $10.29B |
| Enterprise value | $35.99B | $38.25B | $39.75B | $40.69B | $49.09B | $44.55B | $43.85B | $40.76B | $47.88B | $40.87B |
| P/E ratio | 22.6 | 11.5 | 7.2 | 10.8 | 13.3 | — | 9.1 | 10.2 | 58.5 | — |
| Price / sales | 0.6 | 0.7 | 0.7 | 0.9 | 1.2 | 1.0 | 0.5 | 0.4 | 0.6 | 0.4 |
| Price / book | 1.5 | 1.9 | 2.0 | 3.2 | 3.4 | 3.1 | 2.1 | 2.2 | 3.8 | 2.3 |
| Price / free cash flow | 5.8 | 18.3 | — | — | 7.3 | 3.3 | — | 16.7 | 25.3 | 17.4 |
| Price / operating cash flow | 4.5 | 7.3 | 18.1 | 39.3 | 5.6 | 2.8 | 7.1 | 4.3 | 5.6 | 3.7 |
| EV / sales | 2.0 | 1.9 | 1.6 | 1.7 | 2.5 | 3.0 | 1.6 | 1.4 | 1.7 | 1.6 |
| EV / EBITDA | 12.9 | 10.4 | 8.6 | 10.5 | 16.5 | 43.7 | 13.8 | 8.7 | 11.3 | 18.0 |
| EV / free cash flow | 18.0 | 48.9 | — | — | 15.5 | 9.5 | — | 62.5 | 76.0 | 69.0 |
| Earnings yield | 4.4% | 8.7% | 13.8% | 9.3% | 7.5% | −3.2% | 11.0% | 9.8% | 1.7% | −2.4% |
| Free cash flow yield | 17.3% | 5.5% | −1.8% | −2.0% | 13.8% | 30.6% | −1.1% | 6.0% | 4.0% | 5.8% |
| Dividend yield | 2.9% | 4.3% | 3.3% | 1.9% | 0.8% | 0.1% | 2.2% | 2.2% | 1.1% | 2.0% |
| Shareholder yield (dividends + buybacks) | 3.8% | 9.2% | 7.2% | 2.6% | 0.8% | 0.1% | 2.2% | 2.2% | 1.1% | 2.0% |
| Share price at fiscal year-end | $9.22 | $11.33 | $12.18 | $16.06 | $16.89 | $11.16 | $9.56 | $8.00 | $11.65 | $7.55 |
| Per share | ||||||||||
| Revenue per share | $14.46 | $15.74 | $18.29 | $17.29 | $14.32 | $10.79 | $20.74 | $21.83 | $20.26 | $18.43 |
| Earnings per share | $0.41 | $0.99 | $1.69 | $1.49 | $1.27 | −$0.36 | $1.05 | $0.78 | $0.20 | −$0.19 |
| Operating cash flow per share | $2.03 | $1.56 | $0.67 | $0.41 | $3.00 | $4.04 | $1.35 | $1.88 | $2.10 | $2.03 |
| Free cash flow per share | $1.59 | $0.62 | −$0.21 | −$0.32 | $2.32 | $3.42 | −$0.10 | $0.48 | $0.46 | $0.43 |
| Cash per share | $2.06 | $2.53 | $3.20 | $3.21 | $3.71 | $6.42 | $3.60 | $3.70 | $3.97 | $3.68 |
| Book value per share | $6.18 | $6.07 | $5.95 | $5.09 | $4.98 | $3.58 | $4.49 | $3.71 | $3.09 | $3.26 |
| Tangible book value per share | $2.42 | $2.26 | $2.31 | $1.82 | $1.73 | $1.61 | $2.02 | $1.32 | $0.70 | $0.89 |
| Dividends per share | $0.27 | $0.48 | $0.40 | $0.31 | $0.14 | $0.01 | $0.21 | $0.18 | $0.12 | $0.15 |
| Capex per share | $0.43 | $0.94 | $0.89 | $0.73 | $0.68 | $0.62 | $1.45 | $1.40 | $1.63 | $1.57 |
| Debt per share | $21.61 | $21.56 | $20.46 | $17.03 | $22.89 | $27.78 | $26.42 | $25.64 | $27.35 | $26.14 |
| Shares outstanding | 1.25B | 1.26B | 1.35B | 1.36B | 1.36B | 1.37B | 1.35B | 1.36B | 1.37B | 1.36B |
| Change in shares outstanding | −0.7% | −6.7% | −0.9% | +0.1% | −0.6% | +1.1% | −0.5% | −0.4% | +0.4% | +0.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 6.6% | 15.9% | 30.4% | 29.6% | 29.5% | −9.0% | 25.6% | 23.0% | 6.3% | −5.5% |
| Return on invested capital (ROIC) | 6.4% | 9.7% | 13.8% | 10.9% | 8.7% | 4.1% | 9.2% | 6.8% | 4.1% | 2.7% |
| Return on assets (ROA) | 1.2% | 2.8% | 5.3% | 4.6% | 3.5% | −1.0% | 3.0% | 2.3% | 0.6% | −0.5% |
| Return on tangible assets | 1.3% | 3.3% | 5.5% | 5.8% | 3.8% | −1.1% | 3.2% | 2.5% | 0.6% | −0.6% |
| Free cash flow margin | 11.0% | 3.9% | −1.2% | −1.9% | 16.2% | 31.7% | −0.5% | 2.2% | 2.3% | 2.4% |
| Income quality (OCF / net income) | 4.98 | 1.58 | 0.40 | 0.27 | 2.37 | — | 1.28 | 2.39 | 10.53 | — |
| Financial health | ||||||||||
| Total debt | $27.03B | $27.16B | $27.63B | $23.19B | $31.16B | $38.05B | $35.78B | $34.89B | $37.39B | $35.60B |
| Cash & short-term investments | $2.58B | $3.19B | $4.32B | $4.38B | $5.04B | $8.79B | $4.88B | $5.03B | $5.43B | $5.02B |
| Net debt | $24.46B | $23.97B | $23.30B | $18.81B | $26.11B | $29.26B | $30.90B | $29.86B | $31.96B | $30.59B |
| Debt / equity | 3.50 | 3.55 | 3.44 | 3.35 | 4.60 | 7.75 | 5.88 | 6.92 | 8.85 | 8.01 |
| Debt / assets | 0.63 | 0.63 | 0.60 | 0.59 | 0.63 | 0.78 | 0.76 | 0.76 | 0.77 | 0.78 |
| Net debt / EBITDA | 8.73 | 6.53 | 5.05 | 4.85 | 8.76 | 28.72 | 9.72 | 6.40 | 7.52 | 13.43 |
| Current ratio | 2.23 | 2.16 | 2.02 | 5.27 | 2.21 | 3.55 | 3.73 | 3.48 | 3.40 | 4.29 |
| Quick ratio | 1.90 | 1.84 | 1.71 | 4.41 | 1.97 | 2.93 | 2.92 | 2.75 | 2.74 | 3.51 |
| Interest coverage | 1.9 | 2.4 | 3.7 | 5.9 | 6.0 | 2.8 | 4.2 | 4.1 | 3.3 | 1.9 |
| Working capital | $17.30B | $17.22B | $17.89B | $24.04B | $21.45B | $24.87B | $23.93B | $22.86B | $23.26B | $23.58B |
| Invested capital | $32.19B | $31.62B | $31.33B | $25.74B | $32.89B | $34.17B | $36.98B | $34.90B | $36.18B | $35.03B |
| Tangible asset value | $3.12B | $2.96B | $3.24B | $2.52B | $2.44B | $2.33B | $2.81B | $1.86B | $993.0M | $1.24B |
| Net current asset value | −$3.52B | −$3.15B | −$2.77B | −$2.73B | −$3.39B | −$9.08B | −$8.50B | −$8.91B | −$11.10B | −$10.33B |
| Graham number | $7.53 | $11.62 | $15.02 | $13.06 | $11.91 | — | $10.30 | $8.09 | $3.72 | — |
| Graham net-net per share | −$9.89 | −$9.57 | −$9.22 | −$7.95 | −$17.44 | −$12.90 | −$13.22 | −$13.18 | −$14.75 | −$13.80 |
| Capital allocation | ||||||||||
| Dividends paid | $333.0M | $607.0M | $538.0M | $423.0M | $188.0M | $8.0M | $283.0M | $243.0M | $168.0M | $201.0M |
| Share buybacks (net) | $100.0M | $702.0M | $652.0M | $153.0M | $0 | $0 | — | — | — | — |
| Dividend payout ratio | 65.3% | 48.7% | 23.6% | 20.8% | 10.9% | — | 19.9% | 22.8% | 61.8% | — |
| Dividends + buybacks / free cash flow | 21.7% | 167.4% | — | — | 5.9% | 0.2% | — | 37.3% | 26.7% | 34.0% |
| Capex / revenue | 3.0% | 6.0% | 4.8% | 4.2% | 4.7% | 5.7% | 7.0% | 6.4% | 8.1% | 8.5% |
| Capex / operating cash flow | 21.4% | 60.3% | 131.8% | 179.4% | 22.6% | 15.3% | 107.4% | 74.5% | 78.0% | 77.1% |
| Capex / depreciation | 0.86 | 1.96 | 2.12 | 1.87 | 1.72 | 1.57 | 1.61 | 1.42 | 1.66 | 1.69 |
| Stock-based compensation / revenue | — | 0.1% | 0.4% | 0.4% | 0.4% | 0.2% | 0.1% | — | — | 0.0% |
| R&D / revenue | 5.7% | 4.7% | 4.2% | 3.7% | 3.3% | 3.3% | 3.7% | 3.6% | 3.5% | 3.4% |
| SG&A / revenue | 10.4% | 8.6% | 7.5% | 7.4% | 7.5% | 8.8% | — | — | — | — |
| Efficiency | ||||||||||
| Days sales outstanding | 473.1 | 442.9 | 328.9 | 273.5 | 323.3 | 479.2 | 256.1 | 244.8 | 260.8 | 282.6 |
| Days of inventory on hand | 138.9 | 141.1 | 112.2 | 99.4 | 132.5 | 214.4 | 115.8 | 103.5 | 100.8 | 104.3 |
| Days payables outstanding | 66.9 | 80.7 | 79.3 | 79.6 | 128.0 | 196.2 | 96.6 | 93.9 | 94.0 | 97.1 |
| Cash conversion cycle (days) | 545.1 | 503.3 | 361.9 | 293.3 | 327.8 | 497.5 | 275.3 | 254.5 | 267.6 | 289.8 |
| Receivables turnover | 0.77 | 0.82 | 1.11 | 1.33 | 1.13 | 0.76 | 1.42 | 1.49 | 1.40 | 1.29 |
| Payables turnover | 5.46 | 4.52 | 4.60 | 4.58 | 2.85 | 1.86 | 3.78 | 3.89 | 3.88 | 3.76 |
| Inventory turnover | 2.63 | 2.59 | 3.25 | 3.67 | 2.75 | 1.70 | 3.15 | 3.53 | 3.62 | 3.50 |
| Asset turnover | 0.42 | 0.44 | 0.58 | 0.53 | 0.40 | 0.31 | 0.60 | 0.63 | 0.59 | 0.54 |
| Average receivables | $23.45B | $24.07B | $22.25B | $17.65B | $17.27B | $19.40B | $19.70B | $19.93B | $19.79B | $19.43B |
| Average payables | $2.27B | $2.95B | $3.66B | $3.62B | $4.94B | $5.99B | $5.76B | $5.97B | $5.62B | $5.26B |
| Average inventory | $4.71B | $5.16B | $5.18B | $4.51B | $5.12B | $6.55B | $6.90B | $6.59B | $6.03B | $5.65B |
| Intangibles / total assets | 11.0% | 11.2% | 10.6% | 11.3% | 8.9% | 5.5% | 7.1% | 7.0% | 6.8% | 7.1% |
Computed from CNH's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CNH valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), CNH Industrial traded at 22.6 times earnings, against a 10-year median of 11.1. Based on the latest twelve months, the trailing P/E is 46.4 and the forward P/E is 15.5. CNH Industrial earned a return on equity of 6.6% and a return on invested capital of 6.4% in fiscal 2025. It ended the year with $27.0 billion of debt and $2.6 billion in cash and short-term investments, net debt of $24.5 billion. It returned $433.0 million to shareholders: $333.0 million in dividends and $100.0 million in share buybacks, 22% of free cash flow. The share count fell 8.1% from 1.36B to 1.25B over 9 years.
See the CNH income statement, the CNH chart for price history, or the CNH stock overview for the latest quote and news.
CNH key metrics FAQ
What is CNH Industrial's P/E ratio?
CNH Industrial's trailing P/E ratio is 46.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 15.5. At the end of fiscal 2025 it was 22.6, compared with a 10-year median of 11.1.
What is CNH Industrial's EV/EBITDA?
CNH Industrial's enterprise value was 12.9 times EBITDA at the end of fiscal 2025 (enterprise value $36.0 billion, EBITDA $2.8 billion); the current EV/EBITDA is 18.5.
What is CNH Industrial's return on equity?
CNH Industrial's return on equity (ROE) was 6.6% in fiscal 2025: net income of $510.0 million on average shareholders' equity of $7.7 billion.
What is CNH Industrial's ROIC?
CNH Industrial's return on invested capital was 6.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does CNH Industrial have?
CNH Industrial had total debt of $27.0 billion at the end of fiscal 2025, a debt-to-equity ratio of 3.50 and $24.5 billion of net debt (8.73 times EBITDA).
What is CNH Industrial's dividend yield?
CNH Industrial's forward dividend yield is 0.66%. CNH Industrial paid $333.0 million in dividends in fiscal 2025 ($0.27 per share), a payout ratio of 65.3%.
Does CNH Industrial buy back its shares?
Yes. CNH Industrial spent $100.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −0.7% over the year, to 1.25B..
What is CNH Industrial's free cash flow yield?
CNH Industrial generated $2.0 billion of free cash flow in fiscal 2025, a free cash flow yield of 17.3% on its market value at year-end ($11.5 billion).
What is CNH Industrial's current ratio?
CNH Industrial's current ratio was 2.23 at the end of fiscal 2025: current assets were 2.23 times current liabilities.