Company Valuation: Terex Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,068 2,858 3,867 3,087 3,502 6,553 - -
Change - -6.84% 35.31% -20.16% 13.42% 87.13% - -
Enterprise Value (EV) 1 3,475 3,329 4,120 5,283 5,314 8,374 7,906 7,525
Change - -4.19% 23.73% 28.25% 0.57% 57.6% -5.59% -4.81%
P/E 14.1x 9.89x 7.58x 9.32x 16x 22.4x 10.8x 9.4x
PBR 2.76x 2.42x 2.35x 1.71x 1.65x 1.24x 1.36x 1.35x
PEG - 0.3x 0.1x -0.3x -0.5x -1x 0x 0.6x
Capitalization / Revenue 0.79x 0.65x 0.75x 0.6x 0.65x 0.8x 0.75x 0.71x
EV / Revenue 0.89x 0.75x 0.8x 1.03x 0.98x 1.03x 0.9x 0.81x
EV / EBITDA 9.19x 7.13x 5.95x 8.23x 7.34x 8.39x 6.81x 5.94x
EV / EBIT 10.6x 7.93x 6.47x 10x 9.39x 9.44x 7.75x 6.63x
EV / FCF 14.9x 22x 12.4x 28x 16.3x 26.1x 16.6x 12.1x
FCF Yield 6.73% 4.55% 8.06% 3.58% 6.12% 3.83% 6.03% 8.24%
Dividend per Share 2 0.48 0.52 0.64 0.68 0.68 0.71 0.7257 0.735
Rate of return 1.09% 1.22% 1.11% 1.47% 1.27% 1.24% 1.27% 1.28%
EPS 2 3.12 4.32 7.58 4.96 3.33 2.559 5.303 6.1
Distribution rate 15.4% 12% 8.44% 13.7% 20.4% 27.7% 13.7% 12%
Net sales 1 3,887 4,418 5,152 5,127 5,421 8,142 8,757 9,249
EBITDA 1 378.2 467.2 692.9 642 724 998.3 1,161 1,266
EBIT 1 328 420 636.5 526 566 887.5 1,020 1,135
Net income 1 220.9 300 518 335 221 294.8 599.9 676.9
Net Debt 1 407.2 471.4 252.5 2,196 1,812 1,822 1,353 972.6
Reference price 2 43.95 42.72 57.46 46.22 53.38 57.33 57.33 57.33
Nbr of stocks (in thousands) 69,800 66,900 67,300 66,800 65,600 1,14,300 - -
Announcement Date 10/02/22 09/02/23 08/02/24 06/02/25 11/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
22.4x1.03x8.39x1.24% 655.28Cr
18.61x1.72x14.12x2.93% 5.86TCr
17.4x1.74x9.9x2.56% 4.33TCr
11.43x1.07x10.6x4.53% 3.68TCr
31.85x4.61x18.44x1.57% 3.01TCr
11.18x1.51x9.1x1.95% 1.99TCr
24.13x2.25x12.19x1.96% 1.98TCr
9.81x - - 0.71% 1.63TCr
30.52x1x17.85x1.2% 1.62TCr
24.17x2.68x14.45x2.48% 1.61TCr
Average 20.15x 1.96x 12.78x 2.11% 2.64TCr
Weighted average by Cap. 19.39x 2.00x 12.94x 2.48%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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