Terex Corporation
Terex Corp. is a U.S.-based industrial equipment manufacturer focused on materials processing machinery, waste and recycling solutions, mobile elevating work platforms, and equipment for the electric utility industry. Its products are built and supported through a global manufacturing and service footprint, with sales to customers worldwide across construction, infrastructure, energy, recycling, minerals, and entertainment applications.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueWaste and recycling equipment plus utility-related products and services.
Crushing, screening, and materials handling equipment for aggregates and minerals.
Mobile elevating work platforms and related access equipment.
Products
Reported · share of revenue- Aerial Work Platforms Products31.8 %
- Utility Products29.3 %
- Materials Processing Equipment19.8 %
- Specialty Equipment11.2 %
- Other Products and Services7.9 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Terex sells to contractors, rental companies, municipalities, utilities, recyclers, and industrial end users that need specialized capital equipment. Its products are also used in infrastructure, manufacturing, energy, minerals, and entertainment applications, with parts, service, and financing supporting the installed base over time.
Buy MEWPs and materials processing equipment for jobsite access, earthmoving support, and project execution
Purchase aerial and access equipment for fleet deployment across multiple end customers
Buy waste, recycling, and utility equipment for public services and grid maintenance
Buy sorting, crushing, screening, and handling systems to process waste and aggregates
Use specialized lifting and handling equipment for plant maintenance and venue operations
Strategy
Terex is focused on improving customer return on investment through equipment, parts, services, and digital support, while concentrating the portfolio on more resilient end markets. It also emphasizes operational discipline, portfolio management, and innovation in electrification and digital tools to strengthen its competitive position and reduce cyclicality.
Waste, recycling, utilities, and infrastructure are less cyclical than pure construction demand
A common operating system can improve predictability, efficiency, and support quality
These products can address emissions, noise, and productivity needs while differentiating the portfolio
Parts, service, and financing deepen customer relationships and support installed-base monetization
Geography
Terex manufactures in North America, Europe, and Asia Pacific and sells its equipment worldwide. North America is its largest market, representing about 72-73% of global sales in recent disclosures, which makes the company more exposed to U.S. construction, infrastructure, and industrial spending than many peers.
Risks
Terex faces cyclical demand, trade and tariff exposure, and execution risk in a multinational industrial business with complex supply chains. It also carries integration risk from acquisitions and portfolio changes, while customer and supplier consolidation can pressure pricing, sourcing, and margins.
- Tariffs and trade policy riskImpact: HighLikelihood: High
A global manufacturing and sourcing footprint exposes Terex to customs duties and trade barriers
Exposure - Acquisition integration riskImpact: HighLikelihood: Medium
The company has grown through acquisitions and must integrate systems, people, and operations to realize benefits
Exposure: REV transaction and ESG integration
- Cyclical end-market demandImpact: HighLikelihood: Medium
Sales depend on construction, infrastructure, industrial, and rental activity that can slow with higher rates or weaker confidence
Exposure - Customer and supplier concentrationImpact: MediumLikelihood: High
Consolidation can increase buyer leverage and limit component sourcing options
Exposure: Large customers and key parts suppliers
- Product performance and warranty riskImpact: MediumLikelihood: Medium
Equipment failures can lead to warranty claims, downtime, and reputational damage
Exposure: Installed base and field service obligations
Accounting
Judgemental itemsTiming of shipment versus customer acceptance can shift revenue between periods
Impact: Quarterly comparability
Management estimates discounts and incentives that reduce transaction price
Impact: Net sales and margins
Lower-of-cost-or-NRV and excess/obsolete inventory reserves depend on demand outlook
Impact: Gross profit and working capital
Reporting-unit fair values rely on forecasts, discount rates, and market multiples
Impact: Potential non-cash impairment charges
Fair value allocations and integration assumptions affect post-deal results and balance sheet values
Impact: Intangible assets, goodwill, and future earnings
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Last updated: 24/09/2026