TITN on Nasdaq

Titan Machinery

Logo: Titan Machinery, Inc., Public domain, via Wikimedia Commons5

US agricultural machinery dealer

Titan Machinery, Inc. is one of the largest dealers of agricultural and construction equipment and claims to be the largest dealer for the CNH Industrial brands (Case IH, Case CE, New Holland Agriculture, New Holland Construction) in the world. It is based in West Fargo, North Dakota and has locations throughout the Midwestern United States, Australia, Austria, Bulgaria, Germany, Romania and Ukraine. The company is publicly traded on NASDAQ using the symbol TITN.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

$2.4BRevenue, fiscal 20266
-$54.2MNet income, fiscal 20266
1980Founded1

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  • TickerTITN on Nasdaq1
  • Industryagricultural technology, construction machinery industry1
  • HeadquartersWest Fargo1
  • Websitetitanmachinery.com
  • Legal formcorporation1
  • LEI549300835ZM8G0BT5C944
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 44710824
Titan Machinery in Gillette, Wyoming
Photo: Mr. Satterly, WTFPL, via Wikimedia Commons10

Titan Machinery, Inc. is one of the largest dealers of agricultural and construction equipment and claims to be the largest dealer for the CNH Industrial brands (Case IH, Case CE, New Holland Agriculture, New Holland Construction) in the world. It is based in West Fargo, North Dakota and has locations throughout the Midwestern United States, Australia, Austria, Bulgaria, Germany, Romania and Ukraine. The company is publicly traded on NASDAQ using the symbol TITN. As of 2023, the company reported a total revenue of US$2.209 billion.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

15.8%Gross margin6
-0.3%Operating margin6
-2.2%Net margin6
-10.2%Revenue growth, 20266
-9.4%Return on equity6
0.27×Debt to equity6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Revenue from Contracts with Customers brought in 49% of the revenue Titan Machinery broke down this way in fiscal 2026.

  1. Revenue from Contracts with Customers$2.4B649%down 10% from 2025
  2. Sales of Equipment$1.8B636%down 13% from 2025
  3. Sales of Parts$428.3M69%down 0% from 2025
  4. Service Sales$177.9M64%down 1% from 2025
  5. Other Revenue$46.4M61%up 7% from 2025
  6. Rental and Other$46.4M61%up 7% from 2025
  7. Rental Revenue$38.3M61%up 7% from 2025
Products and services by year
Products and services202420252026
Revenue from Contracts with Customers$2.7B$2.7B$2.4B
Sales of Equipment$2.1B$2.1B$1.8B
Sales of Parts$410.8M$428.5M$428.3M
Service Sales$157.3M$180.1M$177.9M
Other Revenue$45.0M$43.3M$46.4M
Rental and Other$45.0M$43.3M$46.4M
Rental Revenue$36.8M$35.7M$38.3M

Business segments

Agriculture brought in 39% of the revenue Titan Machinery broke down this way in fiscal 2026.

  1. Agriculture$1.6B639%down 18% from 2025
  2. Agriculture$1.6B639%down 18% from 2025
  3. Europe$377.7M69%up 45% from 2025
  4. Construction$311.0M68%down 6% from 2025
  5. Australia$180.5M65%down 18% from 2025
Business segments by year
Business segments202420252026
Agriculture$2.0B$1.9B$1.6B
Agriculture$2.0B$1.9B$1.6B
Europe$311.9M$261.0M$377.7M
Construction$332.5M$331.6M$311.0M
Australia$69.8M$221.1M$180.5M

Regions

United States brought in 77% of the revenue Titan Machinery broke down this way in fiscal 2026.

  1. United States$1.9B677%down 16% from 2025
  2. Other Geographies$377.7M616%up 45% from 2025
  3. AUMember$180.5M67%down 18% from 2025
Regions by year
Regions202420252026
United States$2.4B$2.2B$1.9B
Other Geographies$311.9M$261.0M$377.7M
AUMember$69.8M$221.1M$180.5M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue84¢$2.0B
  • Other costs15¢$373.8M
  • Income tax0¢$8.8M

Out of $2.4B in revenue.6 The company lost money this year.

Where each dollar of operating cash went, fiscal 2026

  • Kept or used elsewhere100¢$137.5M

Out of $137.5M of cash from operations.6

Financial statements

Revenue11121314156$2.4B in 2026+92% since 2019
0$1.0B$2.0B$3.0B2019: $1.3B$1.3B20192020: $1.3B$1.3B2020+3%2021: $1.4B$1.4B2021+8%2022: $1.7B$1.7B2022+21%2023: $2.2B$2.2B2023+29%2024: $2.8B$2.8B2024+25%2025: $2.7B$2.7B2025−2%2026: $2.4B$2.4B2026−10%
Gross profit11121314156$382.6M in 2026+65% since 2019
0$200.0M$400.0M$600.0M2019: $231.6M$231.6M20192020: $250.8M$250.8M2020+8%2021: $261.4M$261.4M2021+4%2022: $332.7M$332.7M2022+27%2023: $439.8M$439.8M2023+32%2024: $531.4M$531.4M2024+21%2025: $395.6M$395.6M2025−26%2026: $382.6M$382.6M2026−3%
Operating income11121314156-$6.7M in 2026
-$50.0M0$50.0M$100.0M$150.0M$200.0M2019: $27.5M$27.5M20192020: $21.3M$21.3M2020−22%2021: $37.4M$37.4M2021+75%2022: $90.2M$90.2M2022+141%2023: $138.3M$138.3M2023+53%2024: $168.8M$168.8M2024+22%2025: $4.0M$4.0M2025−98%2026: -$6.7M-$6.7M2026
Net income11121314156-$54.2M in 2026
-$100.0M-$50.0M0$50.0M$100.0M$150.0M2019: $12.2M$12.2M20192020: $14.0M$14.0M2020+15%2021: $19.4M$19.4M2021+39%2022: $66.0M$66.0M2022+241%2023: $101.9M$101.9M2023+54%2024: $112.4M$112.4M2024+10%2025: -$36.9M-$36.9M20252026: -$54.2M-$54.2M2026+47%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2026-01-312025-01-312024-01-31
Revenue$2.4B$2.8B
Total Revenue$2.4B$2.7B$2.8B
TOTAL COST OF REVENUE$2.0B$2.3B$2.2B
GROSS PROFIT$382.6M$395.6M$531.4M
OPERATING EXPENSES$385.2M$389.8M$362.5M
Goodwill, Impairment Loss$0$531.0K$0
Other Asset Impairment Charges$2.3M$1.3M$0
Restructuring Costs$1.7M$0$0
(Loss) Income from Operations-$6.7M$4.0M$168.8M
Interest and other income (expense)$4.4M-$4.2M$3.3M
Floorplan interest expense$24.1M$34.7M$13.8M
Interest Expense, Other$19.0M$15.1M$7.3M
Income (Loss) Attributable to Parent, before Tax-$45.4M-$50.0M$151.0M
Income Tax Expense (Benefit)$8.8M-$13.1M$38.6M
Net Income (Loss) Attributable to Titan Machinery Inc.-$54.2M-$36.9M$112.4M
Net Loss Attributable to Titan Machinery Inc. Common Stockholders-$54.2M-$36.9M$110.9M
Earnings Per Share, Basic-$2.38-$1.63$4.93
Earnings (Loss) per share - diluted (in dollars per share)-$2.38-$1.63$4.93
Weighted Average Number of Shares Outstanding, Basic22.7M shares22.6M shares22.5M shares
WEIGHTED AVERAGE COMMON SHARES-DILUTED (in shares)22.7M shares22.6M shares22.5M shares

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Corporate structure

Titan Machinery sits at the top of its group. 5 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Titan Machinery

  • Titan Machinery West Fargo, North Dakota, United States
    • Titan Machinery Deutschland Burkau, Germany
    • O'Connors Subsidiary · Horsham, Australia
    • J.J. O'CONNOR & SONS PTY. LTD. Subsidiary · Warracknabeal, Australia
    • TITAN MACHINERY AUSTRIA GMBH Subsidiary · Wien-Flughafen, Austria

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

The story

In 1975, after graduating from college, David Meyer joined the Case Corporation as a product specialist for 4WD tractors. In November of the same year, he began working for the Case dealership Meyer-Jones Farm Store in Wahpeton, North Dakota. In 1976, Meyer and his business partner Darrell Larson became minority shareholders in the company. In September 1977 Larson and Meyer opened a second dealership in Lisbon, North Dakota.

Titan Machinery was founded in 1980 when Meyer and Larson bought out the majority shareholders of Meyer-Jones Farm Store. Darrell Larson left Titan at the end of the 1980s. In the early 1990s, the company began its expansion with acquisitions in La Moure, North Dakota, and Lidgerwood, North Dakota. By 2003, Titan had grown to 13 dealerships after a merger with C.I. Farm Power. Peter and Tony Christianson, owners of C.I. Farm Power, joined Titan Machinery's management. In December 2007 Titan Machinery was taken public with 34 dealerships and US$300 million in revenue at the time.

In late 2011 Titan Machinery expanded into Eastern Europe with its purchase of two Case IH dealerships in Bucharest and Timișoara, Romania. In February 2012 the company acquired seven dealerships in Bulgaria and one dealership in Serbia in December 2012.

After receiving approval from CNH Industrial, Titan Machinery opened its first dealership in Vinnitsa, Ukraine on February 18, 2014.

Following declining revenue in its agricultural equipment business, Titan closed 3 stores in South Dakota and Wyoming in March 2015 and reduced its workforce by 14% through layoffs, store closings and open positions not being filled.

On April 30, 2018, Titan Machinery announced its acquisition of Agram Landtechnikvertrieb GmbH and its 5 Case IH dealerships in Mecklenburg-Vorpommern, Brandenburg and Saxony in Germany.

In August 2023 the company announced its strategic acquisition of J.J. O’Connor & Sons Pty. Ltd. (“O’Connors”), the largest Case IH dealership group in Australia, for US$63 million. O'Connors has 15 dealership locations in the southeastern states Victoria, New South Wales, and South Australia.

In January 2024 Titan Machinery acquired the assets of Scott Supply Co., a Case IH and New Holland dealership in Mitchell, South Dakota.

Read the full text

In October 2023 Titan informed its shareholders, that the long-time CEO David Meyer would take on the role of executive chairman and be succeeded as CEO by Bryan Knutson. The change came into effect February 1, 2024.

On November 6, 2025, it was announced that Titan Machinery would cease operations at all branches in Germany, effective January 1, 2026, and leave the German market. The Burkau site and the sales areas of Saxony and southern Brandenburg were taken over by Agrartechnik Vertrieb Sachsen GmbH. The Mecklenburg-Vorpommern sales territory was taken over by the Wüstenberg Group from Schleswig-Holstein without employees or branches.

From Wikipedia’s article on Titan Machinery, shared under CC BY-SA 4.0.7

Leadership

Who has led Titan Machinery, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (17)

Products and brands

Listed on Wikidata.1

As of January 31, 2024, Titan Machinery operated a total of 151 dealerships worldwide. 94 of these dealerships were in the United States, 16 dealerships in Australia, 41 locations in Europe and a European headquarters at the Vienna airport.

From Wikipedia’s article on Titan Machinery, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Subsidiaries

Also consolidated

Subsidiaries (Exhibit 21)

  • Heartland Agriculture LLC Iowa8
  • Heartland Solutions LLC Nebraska8
  • J.J. O'Connor & Sons Pty. Ltd. Australia8
  • NW Property Solutions LLC North Dakota8
  • Northern Meridian LLC North Dakota8
  • Titan European Holdings S.a.r.l. Luxembourg8
  • Titan Machinery Austria GmbH Austria8
  • Titan Machinery Bulgaria AD Bulgaria8
  • Titan Machinery Holdings Australia Pty Ltd Australia8
  • Titan Machinery Romania S.R.L. Romania8
  • Titan Machinery Ukraine LLC Ukraine8

From Wikidata.1 Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record. The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 27, 20268-K Results of operations40
  2. Jun 9, 20268-K Results of operations41
  3. Jun 9, 20268-K Shareholder vote42
  4. Mar 19, 20268-K Results of operations43
  5. Mar 13, 20268-K Executive or director change44
  6. Nov 25, 20258-K Results of operations45
  7. Aug 28, 20258-K Results of operations46
  8. Jun 3, 20258-K Shareholder vote47
  9. May 22, 20258-K Results of operations48
  10. Mar 20, 20258-K Results of operations49
  11. Mar 20, 20258-K Results of operations50
  12. Nov 26, 20248-K Results of operations51
  13. Apr 3, 2024New chief executive Bryan J. Knutson becomes CEO19
  14. Dec 2007Went public Listed on NASDAQ1
  15. 1980Founded Founded1

Calendar

Coming up

  1. Nov 24, 2026Reports results for the quarter ending Oct/2026 A year earlier it reported $0.05 a share, on Nov 25, 2025.52

When it reported results

  1. Aug 27, 2026Reported quarterly or annual results40
  2. Jun 9, 2026Reported quarterly or annual results41
  3. Mar 19, 2026Reported quarterly or annual results43
  4. Nov 25, 2025Reported quarterly or annual results45
  5. Aug 28, 2025Reported quarterly or annual results46
  6. May 22, 2025Reported quarterly or annual results48
  7. Mar 20, 2025Reported quarterly or annual results49
  8. Mar 20, 2025Reported quarterly or annual results50

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

167 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 37 major events, 64 insider forms, 23 large holders, 23 other. The latest 20:

  1. Sep 3, 202610-Q EDGAR
  2. Aug 27, 20268-K EDGAR
  3. Jun 9, 20264 EDGAR
  4. Jun 9, 20264 EDGAR
  5. Jun 9, 20264 EDGAR
  6. Jun 9, 20264 EDGAR
  7. Jun 9, 20264 EDGAR
  8. Jun 9, 20264 EDGAR
  9. Jun 9, 20264 EDGAR
  10. Jun 9, 202610-Q EDGAR
  11. Jun 9, 20268-K EDGAR
  12. Jun 9, 20268-K EDGAR
  13. Jun 5, 2026SCHEDULE 13G/A EDGAR
  14. Jun 3, 20264 EDGAR
  15. Jun 3, 20264 EDGAR
  16. May 15, 2026SCHEDULE 13G/A EDGAR
  17. Apr 29, 2026ARS EDGAR
  18. Apr 29, 2026DEFA14A EDGAR
  19. Apr 29, 2026DEF 14A EDGAR
  20. Apr 9, 2026SCHEDULE 13G/A EDGAR

The 167 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2026Bryan KnutsonPresident & Chief Executive Officer$575.0K$1.5M60
2026Robert LarsenChief Financial Officer$450.0K$1.1M60
2025Bryan KnutsonPresident & Chief Executive Officer$575.0K$1.2M60
2025Robert LarsenChief Financial Officer$440.0K$901.6K60
2024Bryan KnutsonPresident & Chief Executive Officer$516.7K$1.4M60
2024Robert LarsenChief Financial Officer$413.3K$1.1M60

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.2,446,652$51.7M0.1%+204,290
Nantahala Capital Management, LLC2,266,176$47.9M1.5%+1,011,656
BlackRock, Inc.1,679,778$35.5M0.0%+110,602
First Eagle Investment Management, LLC1,573,798$33.2M0.0%+772,599
Jupiter Topco LLC1,127,925$23.8M0.0%New
Royce & Associates LP1,114,037$23.5M0.2%+199,643
Dimensional Fund Advisors LP1,013,671$21.4M0.0%−87,842
American Century Companies Inc944,059$19.9M0.0%+300,391
Vanguard Capital Management LLC916,075$19.3M0.0%+16,974
Morgan Stanley728,278$15.4M0.0%−7,545
Deutsche Bank Ag\611,482$12.9M0.0%−34,673
William Blair Investment Management, LLC582,257$12.3M0.0%−155,001
Geode Capital Management, LLC547,568$11.6M0.0%+30,013
Hotchkis & Wiley Capital Management LLC459,621$9.7M0.0%−6,100
State Street Corp437,125$9.2M0.0%+2,937
EVR Research LP430,200$9.1M4.5%+5,200
Charles Schwab Investment Management Inc414,533$8.8M0.0%−82,184
Stephens Investment Management Group LLC390,987$8.3M0.1%−289,482
Victory Capital Management Inc371,539$7.8M0.0%−11,650
Gamco Investors, Inc. Et Al293,600$6.2M0.1%+1,300
English Capital Management LLC293,069$6.2M3.0%No change
Goldman Sachs Group Inc225,448$4.8M0.0%+9,869
Bridgeway Capital Management, LLC197,431$4.2M0.1%+9,200
Russell Investments Group, Ltd.190,197$4.0M0.0%−20,269
Vanguard Portfolio Management LLC179,675$3.8M0.0%+33,519

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Titan Machinery is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTITAN MACHINERY INC2
  • CIK0001224389
  • Business address4645 Eighth Avenue Southwest, Suite 1, Fargo, ND 581032
  • Phone701-356-01322
  • On EDGAR sinceMar 24, 20032
  • Filings3 in all: REGDEX (2), SC 13G/A (1)2

Sources

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