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Thesis: Terex: the story is balanced — North American rental company fleet replacement cycles and utilization rates (70-80% utilization triggers replacement…
★ Analysts see FY2026 revenue reaching $7.9B — +46.2% growth in a single year.
What Moves the Stock
1North American rental company fleet replacement cycles and utilization rates (70-80% utilization triggers replacement buying)
2Non-residential construction spending trends, particularly infrastructure and commercial building activity
3Materials Processing order intake from aggregate producers tied to highway construction and concrete demand
4Steel and component input cost inflation versus pricing realization lag (6-9 month pass-through cycle)
5Dealer inventory levels and destocking/restocking cycles in AWP distribution channel
6Aerial Work Platforms (Genie brand) - approximately 55% of revenue from boom lifts, scissor lifts, telehandlers sold to rental companies and contractors
7Materials Processing - approximately 45% of revenue from crushing, screening, washing equipment for aggregates, mining, recycling applications
8Aftermarket parts and service - estimated 20-25% of total revenue with higher margins than new equipment sales
value - The stock trades at 0.8x sales and 10.0x EV/EBITDA, below historical averages…
Rising rates negatively impact the business through multiple channels: (1) rental companies face higher financing costs for fleet purchases…
Watch on earnings: Architectural Billings Index (ABI) as 9-12 month leading indicator for non-residential construction AWP demand, United Rentals and Sunbelt Rentals quarterly capex guidance and fleet age metrics (average age above 4-5 years signals replacement cycle), US highway construction spending and Infrastructure Investment and Jobs Act project awards for Materials Processing demand visibility.
One Sentence Summary:
Terex: the story is balanced — north american rental company fleet replacement cycles and utilization rates (70-80% utilization triggers replacement buying).
Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.