CNH Industrial N.V.

Listed Company

CNHCIK 0001567094NYSELarge AcceleratedConstruction Machinery & EquipP7FY ends Dec 31

Period

FY 2025

Revenue

$18.09B

Net Income

$510.00M

Total Assets

$42.75B

Equity

$7.77B

Shares Out

1.24B

Op. Cash Flow

$2.54B

Business

CNH Industrial N.V. is a global equipment company that designs, produces and sells agricultural and construction machinery and provides captive financial services. It offers tractors, combine harvesters, hay and forage equipment, seeding and planting equipment, sprayers, excavators, dozers, loaders, compact equipment, attachments, precision agriculture and technology solutions, and a range of retail and wholesale financing, leasing and factoring products. The company operates through three primary segments: Agriculture, Construction and Financial Services (commercially CNH Capital). CNH distributes products mainly through an extensive independent dealer and distributor network worldwide across North America, EMEA, South America and Asia Pacific.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	15,346	17,060	22,080	21,541	17,802
Finance, interest and other income	2,749	2,776	2,607	2,010	1,694
Total Revenues	18,095	19,836	24,687	23,551	19,496
Cost of goods sold	12,389	13,350	16,838	16,797	14,109
Selling, general and administrative expenses	1,876	1,712	1,863	1,752	1,454
Research and development expenses	1,025	924	1,041	866	642
Restructuring expenses	22	118	67	31	35
Interest expense	1,482	1,611	1,345	734	—
Other, net	681	664	830	689	768
Total Costs and Expenses	17,475	18,379	21,984	20,869	17,557
Consolidated income before income taxes	620	1,457	2,703	2,682	1,939
Income tax expense	−184	−336	−594	−747	−229
Equity in income of unconsolidated affiliates	69	138	178	104	91
Net income	505	1,259	2,287	2,039	1,760
Net income (loss) attributable to noncontrolling interests	−5	13	12	10	37
Net income attributable to CNH Industrial N.V.	510	1,246	2,275	2,029	1,723
Basic earnings per share attributable to CNH Industrial N.V. (in dollars per share)	0.41	0.99	1.71	1.5	1.27
Diluted earnings per share attributable to CNH Industrial N.V. (in dollars per share)	0.41	0.99	1.69	1.49	1.27
Basic (in shares)	1,248	1,254	1,332	1,351	1,354
Diluted (in shares)	1,251	1,260	1,350	1,362	1,361
Cash dividends declared per common share (in dollars per share)	0.25	0.47	0.4	0.3	0.13

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	2,578	3,191	4,322	4,376	5,044
Restricted cash	651	675	723	753	801
Trade receivables, net	226	125	133	172	192
Financing receivables, net	23,105	23,085	24,249	19,260	15,376
Financial receivables from Iveco Group N.V.	195	168	380	298	—
Inventories, net	4,651	4,776	5,545	4,811	4,216
Property, plant and equipment, net	2,181	1,936	1,913	1,532	1,475
Investments in unconsolidated affiliates	437	490	479	385	333
Equipment under operating leases	1,591	1,466	1,417	1,502	1,738
Goodwill	3,617	3,584	3,614	3,322	3,210
Other intangible assets, net	1,086	1,221	1,292	1,129	1,207
Deferred tax assets	1,207	927	979	433	421
Derivative assets	142	196	136	189	182
Other assets	1,080	1,093	1,085	1,219	1,675
Total Assets	42,747	42,933	46,267	39,381	49,416
Debt	26,762	26,882	27,326	22,962	20,897
Financial payables to Iveco Group N.V.	91	62	146	156	—
Trade payables	2,247	2,292	3,611	3,702	—
Deferred tax liabilities	17	28	35	85	125
Pension, postretirement and other postemployment benefits	366	392	476	449	673
Derivative liabilities	97	146	216	204	181
Other liabilities	5,342	5,363	6,307	4,847	4,763
Total Liabilities	34,922	35,165	38,117	32,405	42,563
Redeemable noncontrolling interest	53	55	54	49	45
Common shares, 0.01, par value; outstanding 1,242,064,719 common shares and 370,457,350 loyalty program special voting shares in 2025; and outstanding 1,248,023,791 common shares and 370,994,305 loyalty program special voting shares in 2024	25	25	25	25	25
Treasury stock, at cost - 122,335,477 shares in 2025 and 116,376,405 shares in 2024	−1,422	−1,386	−865	−230	−84
Additional paid-in capital	1,388	1,415	1,578	1,504	4,464
Retained earnings	10,506	10,309	9,654	7,906	4,818
Accumulated other comprehensive loss	−2,767	−2,712	−2,362	−2,278	−2,445
Noncontrolling interests	42	62	66	0	30
Total Equity	7,772	7,713	8,096	6,927	6,808
Total Liabilities and Equity	42,747	42,933	46,267	39,381	49,416

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense excluding depreciation and amortization of assets under operating leases	432	417	377	327	295
Depreciation and amortization expense of assets under operating leases	197	188	187	208	242
Undistributed income of unconsolidated affiliates	17	−11	−115	−69	−29
Other non-cash items	647	340	183	196	126
Provisions	−336	−204	911	189	93
Deferred income taxes	−198	−107	−535	−50	−273
Trade and financing receivables related to sales, net	708	1,015	−2,268	−2,447	191
Inventories, net	749	787	−259	−151	−555
Trade payables	−198	−1,186	−157	125	738
Other assets and liabilities	15	−530	296	232	561
Net cash provided by operating activities	2,538	1,968	907	557	4,082
Additions to retail receivables	−7,554	−8,227	−8,069	−5,971	−5,328
Collections of retail receivables	7,508	6,459	5,824	4,360	4,338
Expenditures for property, plant and equipment and intangible assets excluding assets under operating leases	−543	−536	−644	−461	−365
Expenditures for assets under operating leases	−655	−650	−551	−538	−556
Other, net	−136	182	−259	−496	−2,670
Net cash used in investing activities	−1,380	−2,772	−3,699	−3,009	−5,001
Proceeds from long-term debt	12,985	15,111	9,941	11,183	7,988
Payments of long-term debt	−13,006	−13,453	−8,224	−9,223	−9,088
Net increase (decrease) in other financial liabilities	−1,566	−416	2,071	580	−111
Dividends paid	−333	−607	−538	−423	−188
Purchase of treasury stock	−100	−702	−652	−153	0
Net cash provided (used) by financing activities	−2,020	−67	2,598	1,964	−1,445
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	225	−308	110	−228	−403
Net decrease in cash, cash equivalents and restricted cash	−637	−1,179	−84	−716	−2,767

Filings

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