Titan Machinery Inc. (TITN) Financial Statements (2024 and earlier)

Company Profile

Business Address 644 EAST BEATON DRIVE
WEST FARGO, ND 58078
State of Incorp. DE
Fiscal Year End January 31
Industry (SIC) 599 - Retail Stores, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

10/31/2023
Q3
7/31/2023
Q2
4/30/2023
Q1
1/31/2023
Q4
10/31/2022
Q3
7/31/2022
Q2
4/30/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments52,76538,35743,91345,852142,057147,095
Cash and cash equivalents52,76538,35743,91345,852142,057147,095
Receivables119,753131,28495,844111,84996,36984,870
Inventory, net of allowances, customer advances and progress billings979,427854,154703,939630,377556,383494,167
Inventory979,427854,154703,939630,377556,383494,167
Other undisclosed current assets13,54319,79225,55415,62517,73622,223
Total current assets:1,165,4881,043,587869,250803,703812,545748,355
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization    2,4402,4428,738
Operating lease, right-of-use asset44,24147,68450,20652,09151,88853,980
Intangible assets, net (including goodwill)49,51149,02149,03348,87421,01521,044
Goodwill31,15730,69130,62232,0229,5359,535
Intangible assets, net (excluding goodwill)18,35418,33018,41116,85211,48011,509
Deferred income tax assets   1,246   
Other noncurrent assets1,8201,8141,1781,2111,2201,032
Other undisclosed noncurrent assets255,956235,999217,782216,451188,761177,048
Total noncurrent assets:351,528334,518319,445321,067265,326261,842
TOTAL ASSETS:1,517,0161,378,1051,188,6951,124,7701,077,8711,010,197
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities49,12554,34698,99359,25634,63336,273
Taxes payable15,9186,2899,456
Accounts payable41,25443,19540,83443,33828,34426,817
Accrued liabilities7,87111,15158,159   
Deferred revenue63,08397,532119,84556,81291,819129,503
Debt11,1747,4817,8187,5187,20413,573
Other liabilities   58,159   
Other undisclosed current liabilities654,621500,880213,336339,111326,011238,150
Total current liabilities:778,003660,239498,151462,697459,667417,499
Noncurrent Liabilities
Long-term debt and lease obligation87,05293,44589,950141,792137,498135,258
Long-term debt, excluding current maturities87,05293,44589,95091,05586,50081,974
Liabilities, other than long-term debt55,28060,38864,2888,9946,4295,957
Deferred income tax liabilities9,5699,5679,5631,9741,9912,001
Other liabilities3,5435,0516,2127,0204,4383,956
Operating lease, liability42,16845,77048,51350,73750,99853,284
Total noncurrent liabilities:142,332153,833154,238150,786143,927141,215
Total liabilities:920,335814,072652,389613,483603,594558,714
Equity
Equity, attributable to parent596,681564,033536,306511,287474,277451,483
Additional paid in capital256,984256,207256,541256,073255,188254,390
Accumulated other comprehensive loss(3,373)(3,923)(5,019)(11,458)(6,326)(3,363)
Retained earnings343,070311,749284,784266,672225,415200,456
Total equity:596,681564,033536,306511,287474,277451,483
TOTAL LIABILITIES AND EQUITY:1,517,0161,378,1051,188,6951,124,7701,077,8711,010,197

Income Statement (P&L) ($ in thousands)

10/31/2023
Q3
7/31/2023
Q2
4/30/2023
Q1
1/31/2023
Q4
10/31/2022
Q3
7/31/2022
Q2
4/30/2022
Q1
Revenues642,568569,6311,004,995668,773496,543461,007
Cost of revenue(509,169)(451,051)(803,631)(529,193)(393,844)(372,313)
Gross profit:133,399118,580201,364139,580102,69988,694
Operating expenses(88,751)(81,315)(125,056)(84,861)(68,828)(64,152)
Other undisclosed operating income   1,498   
Operating income:44,64837,26577,80654,71933,87124,542
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
6417201,9271,804873492
Interest and debt expense(1,241)(1,274)(3,652)(1,257)(1,349)(1,196)
Income from continuing operations before equity method investments, income taxes:44,04836,71176,08155,26633,39523,838
Other undisclosed income (loss) from continuing operations before income taxes(2,457)(1,272)1,027(588)(245)(254)
Income from continuing operations before income taxes:41,59135,43977,10854,67833,15023,584
Income tax expense(10,270)(8,474)(18,852)(13,421)(8,191)(6,044)
Income from continuing operations:31,32126,96558,25641,25724,95917,540
Income before gain (loss) on sale of properties:41,25724,95917,540
Net income attributable to parent:31,32126,96558,25641,25724,95917,540
Other undisclosed net loss available to common stockholders, basic(400)(295)(640)(563)(291)(210)
Net income available to common stockholders, diluted:30,92126,67057,61640,69424,66817,330

Comprehensive Income ($ in thousands)

10/31/2023
Q3
7/31/2023
Q2
4/30/2023
Q1
1/31/2023
Q4
10/31/2022
Q3
7/31/2022
Q2
4/30/2022
Q1
Net income:31,32126,96558,25641,25724,95917,540
Other comprehensive income (loss)5501,096 (5,132)(2,963)(1,191)
Other undisclosed comprehensive loss   (662)   
Comprehensive income, net of tax, attributable to parent:31,87128,06157,59436,12521,99616,349

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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