Titan International, Inc. (DE)
Titan International is a U.S.-based industrial manufacturer of wheels, tires, assemblies, and undercarriage products for off-highway equipment. Its products are used across agriculture, earthmoving/construction, and consumer end markets, with manufacturing and distribution operations serving customers in North America, Latin America, Europe, and other global markets.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueWheels, tires, and components used on tractors, combines, planters, and other farm equipment.
Tires, wheels, and assemblies for construction and earthmoving machinery.
Specialty tires and wheels for powersports, outdoor power equipment, trailers, and related uses.
Undercarriage components and related products for off-highway applications.
Custom rubber stock mixing and other products that do not fit the core segments.
Products
Reported · share of revenue- Wheels and Tires Including Assemblies76.1 %
- Undercarriage Systems and Components23.9 %
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
Titan sells primarily to OEMs that build agricultural, construction, and specialty equipment, while also serving aftermarket channels through distributors, dealers, and Titan distribution centers. Its customer base includes large global equipment manufacturers, and the company also supplies products under licensed brands such as Goodyear and Carlisle for selected markets.
Buy farm wheels, tires, and components for tractors, combines, planters, and irrigation equipment.
Buy heavy-duty wheels, tires, and assemblies for off-highway construction equipment.
Buy replacement tires and wheels for farm, construction, and consumer equipment.
Buy products for powersports, outdoor power equipment, trailers, and lawn and garden uses.
Large OEM accounts such as Deere, Caterpillar, CNH, AGCO, Kubota, Volvo, and others.
Strategy
Titan's strategy centers on broadening its off-highway product portfolio, improving manufacturing efficiency, and deepening customer relationships through design support and complete wheel-and-tire assemblies. The company also emphasizes product innovation, facility modernization, and selective acquisitions to expand its reach into adjacent end markets and brands.
A wider product set helps Titan sell complete assemblies and serve more equipment platforms.
Higher utilization and modernized equipment support competitiveness in price-sensitive OEM markets.
Customer-specific engineering helps Titan win OEM programs and defend share against competitors.
Large OEM accounts are concentrated and critical to volume stability.
Geography
Titan operates as a global business with manufacturing and sales across North America, Latin America, Europe, Asia, and other international markets. The company also has manufacturing in China and Russia and licenses certain brands for use across North America, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Russia, and CIS markets.
Risks
Titan is exposed to cyclical demand in agriculture, construction, and consumer equipment markets, where OEM production and replacement demand can change quickly with macro conditions. The company also faces customer concentration, tariff and trade-policy uncertainty, intense price competition, and foreign-exchange and sourcing risks tied to its global manufacturing footprint.
- Tariffs and trade policyImpact: HighLikelihood: High
Cross-border sourcing and manufacturing can become more expensive or less competitive under changing tariff regimes.
Exposure - Cyclical end-market demandImpact: HighLikelihood: Medium
Sales depend heavily on farm, construction, and consumer equipment activity, which moves with economic cycles.
Exposure - Customer concentrationImpact: HighLikelihood: Medium
A small number of OEMs account for a meaningful share of sales, so lost programs can reduce volume quickly.
Exposure: Deere and other large OEMs
- Competitive pricing pressureImpact: MediumLikelihood: High
Competitors may lower prices or OEMs may internalize production, pressuring Titan's share and margins.
Exposure: OEM wheel and tire assemblies
- Foreign exchange and international operationsImpact: MediumLikelihood: Medium
Global manufacturing and sales expose results to currency swings and operating complexity.
Exposure
Accounting
Judgemental itemsAcquisitions can create amortization expense and fair-value step-ups that affect comparability.
Impact: Recent acquisitions such as Carlstar/Titan Specialty
Slower demand or weaker margins can trigger impairment testing for acquired assets.
Impact: Acquired brands and reporting units
Demand swings and pricing pressure can affect reserves, obsolescence, and gross profit.
Impact: Agricultural, construction, and consumer product inventories
Plant upgrades, dies, and molds are capitalized and depreciated over time, affecting earnings timing.
Impact: Manufacturing equipment and new product development
Global operations and entity mix create judgment around deferred taxes and effective tax rates.
Impact: Multi-jurisdiction earnings
Similar listed companies
Publicly listed companies with a comparable business focus.
Titan Machinery Inc.
TITN · Retail-Retail Stores, NEC
Titan America SA
TTAM · Mining & Quarrying of Nonmetallic Minerals (No Fuels)
Titan America SA produces cement and related building materials for construction markets along the U.S.
Titan Mining Corp
TII · Gold and Silver Ores
Titan Mining Corp is a U.S.-based natural resources company centered on critical minerals production and development.
Titan Environmental Solutions Inc.
TESI · Services-Computer Programming Services
ITT Inc
ITT · Pumps & Pumping Equipment
The Goodyear Tire & Rubber Company
GT · Tires & Inner Tubes
Goodyear Tire & Rubber is an Ohio-based manufacturer and seller of tires, related mobility products, and service offerings for consumer, commercial, aviation, and specialty applications.
Last updated: 24/09/2026