Terex Corporation

Terex designs, builds and services specialized industrial equipment. It reported three segments for fiscal 2025, the year ended December 31, 2025. Aerials, the largest at 38% of segment revenue, sells Genie-brand lifts that raise workers to height, plus telehandlers (forklifts with a telescoping arm). Environmental Solutions (31%) makes garbage truck bodies, compactors, balers and recycling equipment under brands such as Heil, plus digger derricks and other gear for building and maintaining power lines. Materials Processing (31%) sells crushers, screens, material handlers and concrete equipment under brands such as Powerscreen and Fuchs.

Customers include builders, rental companies, waste haulers, utilities, quarries, mines and recyclers. Some units sell through dealers. Terex also earns money from parts and service over each machine's life. Terex Financial Services arranges loans and leases from outside lenders for buyers, and sometimes agrees to cover losses if a buyer defaults. Fiscal 2025 revenue was $5.42 billion: 72% from North America, 14% from Western Europe, 8% from Asia-Pacific and 6% from elsewhere.

On February 2, 2026, Terex completed a merger with REV. REV builds ambulances, fire trucks, terminal trucks that move trailers around yards, industrial sweepers and motorized RVs, mainly for US buyers such as municipalities and government agencies. Fiscal 2025 figures exclude REV. Revenue for the quarter ended June 30, 2026, which includes REV, was $2.24 billion, up 50.5% from a year earlier.

• In Q3 FY2026 (ended Sep 30, 2026), revenue was $2.20B, up 58.4% from a year earlier, and net income was $114.0M (+75.4%).
• For fiscal 2025, revenue was $5.42B (+5.7% year over year; +12.0% a year from FY2020 to FY2025) with a 4.1% net margin.

• Over FY2021–FY2025: $272.0M in buybacks and $203.5M in dividends.
• Regular dividends per share grew +41.5% a year over 5 years (FY2020–FY2025).
• Dividends took 20.4% of earnings and 14% of free cash flow in the latest fiscal year.
• Shares outstanding changed +61.3% from Feb 8, 2022 to Oct 27, 2026.

Rank among 1514 US companies

Market value at each year end

Terex’s market value went from $3.34B at the end of 2016 to $6.00B on Oct 28, 2026, up 80%; since the end of 2025 it is up 71%.

Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 3 sales ($143K).

Large shareholders (13G filings)

ETFs with the most weight in TEX

1. Integrating REV could disappoint. Terex merged with REV, maker of ambulances, fire trucks and RVs, on February 2, 2026. Combining them could distract management, cost more than planned or fall short of expected cost savings.
2. Significant debt limits flexibility. Total debt was $2.69 billion against $407 million of cash and investments as of June 30, 2026. Loan agreements carry covenants (rules set by lenders), and a downturn could make debt payments harder to cover.
3. Sales rise and fall with the economy. Demand depends on construction, infrastructure, mining and government spending. When those slow, customers may cancel or delay orders. In the 2008 financial crisis, the share price fell about 92% from peak to low.
4. Losses if customers or dealers can't pay. Some dealers and customers rely on outside loans to buy equipment. Terex backs some of these loans, so defaults could cause losses beyond its reserves, and tighter lending could cut sales.
5. Tariffs could raise costs and dent sales. Terex builds equipment in the US, Mexico, Northern Ireland, Italy, Germany, India and China and sells worldwide. New or higher tariffs could raise costs or make its machines less competitive.
6. Thin margins leave little room for shocks. Terex kept 19.4% of fiscal 2025 revenue after production costs and 4.1% as profit. Shortages of materials or parts, price spikes or price cuts by competitors can quickly squeeze those margins.

• Oct 30, 2026 Quarterly results released
• Oct 28, 2026 Quarterly results released; Investor presentation or announcement
• Oct 16, 2026 Other company announcement
• Aug 3, 2026 Quarterly results released
• Jul 31, 2026 Other company announcement
• Jul 30, 2026 Quarterly results released; Investor presentation or announcement
• Jun 30, 2026 Executive or board change; Shareholder vote results
• May 5, 2026 Quarterly results released
• May 1, 2026 Quarterly results released; Investor presentation or announcement
• Apr 21, 2026 Other company announcement

Terex pays a modest dividend. The yield was 1.27% as of October 28, 2026. Dividends per share rose from $0.12 in fiscal 2020 to $0.68 in fiscal 2025. But the fiscal 2025 dividend was slightly below fiscal 2024's, so Terex has no unbroken streak of annual increases. The dividend took about 20% of fiscal 2025 earnings and 14% of free cash flow (the cash left after running and investing in the business). Terex spent $272 million on buybacks from fiscal 2021 to 2025. Even so, shares outstanding grew from 69.8 million in October 2021 to 114.3 million in July 2026, which dilutes existing holders.

The shares have fallen hard in downturns. They dropped about 92% in the 2008 financial crisis and had not regained that peak as of October 28, 2026. They fell 50% in the 2020 COVID crash and 41% in the 2022 bear market, and recovered in about seven and six months. Single stocks carry more risk than diversified funds.