Intrinsic value of Terex - TEX

Previous Close

$42.99

  Intrinsic Value

$2.51

stock screener

  Rating & Target

str. sell

-94%

Previous close

$42.99

 
Intrinsic value

$2.51

 
Up/down potential

-94%

 
Rating

str. sell

We calculate the intrinsic value of TEX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 4.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  4,450
  4,553
  4,670
  4,801
  4,947
  5,106
  5,280
  5,468
  5,671
  5,889
  6,122
  6,370
  6,635
  6,916
  7,214
  7,530
  7,865
  8,219
  8,593
  8,988
  9,404
  9,843
  10,307
  10,794
  11,308
  11,849
  12,419
  13,018
  13,649
  14,312
Variable operating expenses, $m
  4,597
  4,702
  4,822
  4,957
  5,106
  5,270
  5,448
  5,642
  5,850
  6,073
  6,283
  6,538
  6,810
  7,099
  7,405
  7,729
  8,073
  8,436
  8,820
  9,225
  9,653
  10,104
  10,579
  11,080
  11,607
  12,163
  12,747
  13,362
  14,009
  14,690
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  4,597
  4,702
  4,822
  4,957
  5,106
  5,270
  5,448
  5,642
  5,850
  6,073
  6,283
  6,538
  6,810
  7,099
  7,405
  7,729
  8,073
  8,436
  8,820
  9,225
  9,653
  10,104
  10,579
  11,080
  11,607
  12,163
  12,747
  13,362
  14,009
  14,690
Operating income, $m
  -146
  -149
  -152
  -156
  -159
  -164
  -168
  -173
  -179
  -184
  -162
  -168
  -175
  -183
  -191
  -199
  -208
  -217
  -227
  -237
  -248
  -260
  -272
  -285
  -299
  -313
  -328
  -344
  -361
  -378
EBITDA, $m
  -58
  -59
  -60
  -62
  -64
  -66
  -68
  -71
  -73
  -76
  -79
  -82
  -86
  -89
  -93
  -97
  -102
  -106
  -111
  -116
  -122
  -127
  -133
  -139
  -146
  -153
  -160
  -168
  -176
  -185
Interest expense (income), $m
  96
  53
  56
  58
  62
  65
  69
  74
  79
  84
  89
  95
  102
  109
  116
  124
  132
  141
  150
  160
  170
  181
  193
  205
  218
  232
  246
  261
  277
  293
  311
Earnings before tax, $m
  -199
  -205
  -211
  -217
  -225
  -233
  -242
  -252
  -262
  -274
  -257
  -270
  -284
  -299
  -315
  -331
  -349
  -367
  -387
  -408
  -430
  -453
  -477
  -503
  -530
  -559
  -589
  -621
  -654
  -689
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -199
  -205
  -211
  -217
  -225
  -233
  -242
  -252
  -262
  -274
  -257
  -270
  -284
  -299
  -315
  -331
  -349
  -367
  -387
  -408
  -430
  -453
  -477
  -503
  -530
  -559
  -589
  -621
  -654
  -689

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,532
  3,613
  3,706
  3,810
  3,926
  4,053
  4,191
  4,340
  4,501
  4,674
  4,858
  5,056
  5,266
  5,489
  5,725
  5,976
  6,242
  6,523
  6,820
  7,133
  7,464
  7,812
  8,180
  8,567
  8,975
  9,404
  9,856
  10,332
  10,832
  11,359
Adjusted assets (=assets-cash), $m
  3,532
  3,613
  3,706
  3,810
  3,926
  4,053
  4,191
  4,340
  4,501
  4,674
  4,858
  5,056
  5,266
  5,489
  5,725
  5,976
  6,242
  6,523
  6,820
  7,133
  7,464
  7,812
  8,180
  8,567
  8,975
  9,404
  9,856
  10,332
  10,832
  11,359
Revenue / Adjusted assets
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
Average production assets, $m
  601
  615
  630
  648
  668
  689
  713
  738
  766
  795
  826
  860
  896
  934
  974
  1,017
  1,062
  1,110
  1,160
  1,213
  1,270
  1,329
  1,391
  1,457
  1,527
  1,600
  1,677
  1,757
  1,843
  1,932
Working capital, $m
  383
  392
  402
  413
  425
  439
  454
  470
  488
  506
  526
  548
  571
  595
  620
  648
  676
  707
  739
  773
  809
  847
  886
  928
  973
  1,019
  1,068
  1,120
  1,174
  1,231
Total debt, $m
  1,029
  1,082
  1,142
  1,210
  1,284
  1,366
  1,456
  1,552
  1,656
  1,768
  1,888
  2,015
  2,151
  2,295
  2,449
  2,611
  2,783
  2,965
  3,157
  3,359
  3,573
  3,799
  4,037
  4,287
  4,551
  4,829
  5,121
  5,429
  5,753
  6,093
Total liabilities, $m
  2,285
  2,338
  2,398
  2,465
  2,540
  2,622
  2,711
  2,808
  2,912
  3,024
  3,143
  3,271
  3,407
  3,551
  3,704
  3,867
  4,039
  4,220
  4,412
  4,615
  4,829
  5,055
  5,292
  5,543
  5,807
  6,085
  6,377
  6,685
  7,009
  7,349
Total equity, $m
  1,247
  1,275
  1,308
  1,345
  1,386
  1,431
  1,479
  1,532
  1,589
  1,650
  1,715
  1,785
  1,859
  1,938
  2,021
  2,110
  2,203
  2,303
  2,407
  2,518
  2,635
  2,758
  2,887
  3,024
  3,168
  3,320
  3,479
  3,647
  3,824
  4,010
Total liabilities and equity, $m
  3,532
  3,613
  3,706
  3,810
  3,926
  4,053
  4,190
  4,340
  4,501
  4,674
  4,858
  5,056
  5,266
  5,489
  5,725
  5,977
  6,242
  6,523
  6,819
  7,133
  7,464
  7,813
  8,179
  8,567
  8,975
  9,405
  9,856
  10,332
  10,833
  11,359
Debt-to-equity ratio
  0.830
  0.850
  0.870
  0.900
  0.930
  0.960
  0.980
  1.010
  1.040
  1.070
  1.100
  1.130
  1.160
  1.180
  1.210
  1.240
  1.260
  1.290
  1.310
  1.330
  1.360
  1.380
  1.400
  1.420
  1.440
  1.450
  1.470
  1.490
  1.500
  1.520
Adjusted equity ratio
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353
  0.353

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -199
  -205
  -211
  -217
  -225
  -233
  -242
  -252
  -262
  -274
  -257
  -270
  -284
  -299
  -315
  -331
  -349
  -367
  -387
  -408
  -430
  -453
  -477
  -503
  -530
  -559
  -589
  -621
  -654
  -689
Depreciation, amort., depletion, $m
  89
  90
  92
  94
  95
  98
  100
  103
  105
  108
  83
  86
  90
  93
  97
  102
  106
  111
  116
  121
  127
  133
  139
  146
  153
  160
  168
  176
  184
  193
Funds from operations, $m
  -111
  -114
  -119
  -124
  -129
  -135
  -142
  -149
  -157
  -166
  -175
  -184
  -195
  -206
  -217
  -230
  -243
  -256
  -271
  -287
  -303
  -320
  -338
  -357
  -378
  -399
  -421
  -445
  -470
  -496
Change in working capital, $m
  8
  9
  10
  11
  13
  14
  15
  16
  17
  19
  20
  21
  23
  24
  26
  27
  29
  30
  32
  34
  36
  38
  40
  42
  44
  47
  49
  52
  54
  57
Cash from operations, $m
  -118
  -123
  -129
  -135
  -142
  -149
  -157
  -165
  -175
  -184
  -195
  -206
  -217
  -230
  -243
  -257
  -271
  -287
  -303
  -321
  -339
  -358
  -378
  -399
  -422
  -445
  -470
  -496
  -524
  -553
Maintenance CAPEX, $m
  -59
  -60
  -61
  -63
  -65
  -67
  -69
  -71
  -74
  -77
  -79
  -83
  -86
  -90
  -93
  -97
  -102
  -106
  -111
  -116
  -121
  -127
  -133
  -139
  -146
  -153
  -160
  -168
  -176
  -184
New CAPEX, $m
  -10
  -14
  -16
  -18
  -20
  -22
  -23
  -25
  -27
  -29
  -31
  -34
  -36
  -38
  -40
  -43
  -45
  -48
  -50
  -53
  -56
  -59
  -63
  -66
  -69
  -73
  -77
  -81
  -85
  -90
Cash from investing activities, $m
  -69
  -74
  -77
  -81
  -85
  -89
  -92
  -96
  -101
  -106
  -110
  -117
  -122
  -128
  -133
  -140
  -147
  -154
  -161
  -169
  -177
  -186
  -196
  -205
  -215
  -226
  -237
  -249
  -261
  -274
Free cash flow, $m
  -187
  -197
  -206
  -216
  -226
  -237
  -249
  -262
  -276
  -290
  -306
  -322
  -339
  -357
  -376
  -397
  -418
  -441
  -465
  -490
  -516
  -544
  -574
  -604
  -637
  -671
  -707
  -745
  -785
  -826
Issuance/(repayment) of debt, $m
  45
  53
  60
  67
  75
  82
  89
  97
  104
  112
  120
  128
  136
  144
  153
  162
  172
  182
  192
  203
  214
  226
  238
  251
  264
  278
  292
  308
  324
  341
Issuance/(repurchase) of shares, $m
  224
  233
  243
  254
  265
  278
  291
  305
  319
  335
  322
  340
  358
  378
  398
  420
  443
  467
  492
  519
  547
  576
  607
  640
  674
  710
  748
  788
  830
  875
Cash from financing (excl. dividends), $m  
  269
  286
  303
  321
  340
  360
  380
  402
  423
  447
  442
  468
  494
  522
  551
  582
  615
  649
  684
  722
  761
  802
  845
  891
  938
  988
  1,040
  1,096
  1,154
  1,216
Total cash flow (excl. dividends), $m
  81
  89
  97
  106
  114
  122
  131
  139
  148
  156
  136
  146
  155
  165
  175
  185
  196
  207
  219
  231
  244
  258
  271
  286
  301
  317
  334
  351
  370
  389
Retained Cash Flow (-), $m
  -224
  -233
  -243
  -254
  -265
  -278
  -291
  -305
  -319
  -335
  -322
  -340
  -358
  -378
  -398
  -420
  -443
  -467
  -492
  -519
  -547
  -576
  -607
  -640
  -674
  -710
  -748
  -788
  -830
  -875
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  39
  40
  41
  42
  43
  45
  46
  48
  49
  51
  53
  55
  57
  60
  62
  65
  68
  71
  74
  77
  81
  85
  89
  93
  97
  102
  107
  112
  117
  123
Cash available for distribution, $m
  -143
  -145
  -146
  -148
  -151
  -155
  -160
  -165
  -172
  -178
  -186
  -194
  -203
  -213
  -223
  -234
  -246
  -259
  -273
  -287
  -302
  -319
  -336
  -354
  -373
  -393
  -415
  -437
  -461
  -486
Discount rate, %
  4.90
  5.15
  5.40
  5.67
  5.96
  6.25
  6.57
  6.89
  7.24
  7.60
  7.98
  8.38
  8.80
  9.24
  9.70
  10.19
  10.70
  11.23
  11.79
  12.38
  13.00
  13.65
  14.33
  15.05
  15.80
  16.59
  17.42
  18.29
  19.21
  20.17
PV of cash for distribution, $m
  -136
  -131
  -125
  -119
  -113
  -108
  -103
  -97
  -91
  -86
  -80
  -74
  -68
  -62
  -56
  -50
  -44
  -38
  -33
  -28
  -23
  -19
  -15
  -12
  -10
  -7
  -5
  -4
  -3
  -2
Current shareholders' claim on cash, %
  94.7
  89.6
  84.6
  79.9
  75.3
  71.0
  66.8
  62.9
  59.1
  55.5
  52.4
  49.4
  46.6
  43.8
  41.3
  38.8
  36.5
  34.2
  32.1
  30.2
  28.3
  26.5
  24.8
  23.3
  21.8
  20.4
  19.1
  17.8
  16.7
  15.6

Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries. The AWP segment designs, manufactures, services and markets aerial work platform equipment, telehandlers and light towers. The AWP segment's products are used by its customers to construct and maintain industrial, commercial and residential buildings and facilities, and for other commercial operations, as well as in a range of infrastructure projects. The Cranes segment's products are used by its customers for construction and manufacturing facilities, among others. The MP segment's products are used by its customers in construction, infrastructure and recycling projects.

FINANCIAL RATIOS  of  Terex (TEX)

Valuation Ratios
P/E Ratio -25.6
Price to Sales 1
Price to Book 3
Price to Tangible Book
Price to Cash Flow 12.3
Price to Free Cash Flow 15.4
Growth Rates
Sales Growth Rate -32.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -29.8%
Cap. Spend. - 3 Yr. Gr. Rate -2.5%
Financial Strength
Quick Ratio 31
Current Ratio 0.5
LT Debt to Equity 105.2%
Total Debt to Equity 106.1%
Interest Coverage -2
Management Effectiveness
Return On Assets -2%
Ret/ On Assets - 3 Yr. Avg. 2.7%
Return On Total Capital -5.2%
Ret/ On T. Cap. - 3 Yr. Avg. 2.2%
Return On Equity -10.5%
Return On Equity - 3 Yr. Avg. 4.1%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 17%
Gross Margin - 3 Yr. Avg. 19%
EBITDA Margin -1.8%
EBITDA Margin - 3 Yr. Avg. 4.3%
Operating Margin -3.3%
Oper. Margin - 3 Yr. Avg. 2.6%
Pre-Tax Margin -6.1%
Pre-Tax Margin - 3 Yr. Avg. 0.5%
Net Profit Margin -4%
Net Profit Margin - 3 Yr. Avg. 0.9%
Effective Tax Rate 28.8%
Eff/ Tax Rate - 3 Yr. Avg. 25.6%
Payout Ratio -17%

TEX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TEX stock intrinsic value calculation we used $4363 million for the last fiscal year's total revenue generated by Terex. The default revenue input number comes from 2017 income statement of Terex. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TEX stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.9%, whose default value for TEX is calculated based on our internal credit rating of Terex, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Terex.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TEX stock the variable cost ratio is equal to 103.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for TEX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Terex.

Corporate tax rate of 27% is the nominal tax rate for Terex. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TEX stock is equal to 0.9%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TEX are equal to 13.5%.

Life of production assets of 10 years is the average useful life of capital assets used in Terex operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TEX is equal to 8.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1222 million for Terex - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 93 million for Terex is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Terex at the current share price and the inputted number of shares is $4.0 billion.

RELATED COMPANIES Price Int.Val. Rating
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COMPANY NEWS

▶ Wells Fargo and AT&T slide while Walmart and Terex climb   [Jul-13-18 05:11PM  Associated Press]
▶ Terex Authorizes New Share Repurchase Program   [Jul-12-18 04:16PM  GlobeNewswire]
▶ Terex Announces Quarterly Dividend   [02:04PM  GlobeNewswire]
▶ Terex Stock Upgraded: What You Need to Know   [Jun-21-18 12:53PM  Motley Fool]
▶ 3 Construction Stocks to Buy Right Now   [Jun-18-18 10:03AM  InvestorPlace]
▶ 3 Construction Stocks to Buy Right Now   [Jun-15-18 03:42PM  Zacks]
▶ U.S. Manufacturing Gathers Steam Under Trump: 5 Top Picks   [Jun-14-18 11:20AM  InvestorPlace]
▶ Stocks Still Rising at Start of Eventful Week   [Jun-12-18 09:15AM  Zacks]
▶ Terex Announces Quarterly Dividend   [May-11-18 08:50AM  Business Wire]
▶ Terex Stock Gets a Quantitative Lift to Buy   [May-02-18 02:14PM  TheStreet.com]
▶ Terex: 1Q Earnings Snapshot   [May-01-18 05:43PM  Associated Press]
▶ Terex Announces First Quarter 2018 Results   [04:10PM  Business Wire]
▶ Terex Announces Increase in Revolving Credit Facility   [Apr-10-18 04:10PM  Business Wire]
▶ These 3 Companies Could Be Huge Trade War Casualties   [Mar-23-18 06:00AM  Motley Fool]
▶ Why You Shouldn't Bet Against Terex (TEX) Stock   [Mar-14-18 08:32AM  Zacks]
▶ Manitowoc Could Be Biggest Tariffs Loser: JPM   [Mar-06-18 01:54PM  Investopedia]
▶ Machinery Stocks Bear the Brunt of Trump's Tariffs   [Mar-02-18 02:17PM  Barrons.com]
▶ 5 Best GARP Stocks Based on Discounted PEG   [Feb-26-18 12:45PM  InvestorPlace]
▶ Terex reports 4Q loss   [Feb-13-18 06:57PM  Associated Press]
▶ Terex Increases Quarterly Dividend to $0.10 Per Share   [Feb-09-18 08:30AM  Business Wire]
▶ Terex Authorizes New Share Repurchase Program   [Feb-07-18 04:10PM  Business Wire]
▶ Chevron Leads These Five Industrial Stocks Trading Near Buy Points   [Dec-11-17 04:15PM  Investor's Business Daily]
▶ ETFs with exposure to Terex Corp. : November 27, 2017   [Nov-27-17 03:56PM  Capital Cube]
▶ How Financially Strong Is Terex Corporation (TEX)?   [Nov-04-17 11:09AM  Simply Wall St.]
▶ Terex beats Street 3Q forecasts   [Oct-31-17 04:09PM  Associated Press]
▶ Terex Announces Third Quarter 2017 Results   [04:00PM  Business Wire]
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