Terex Corporation (TEX) Stock Price & How to Invest
Last updated July 2026
Short answer
TEX is Terex Corporation, a US-listed maker of industrial and specialty equipment (aerial work platforms, materials processing, waste and recycling vehicles, and, after the 2026 REV Group merger, fire trucks, ambulances and RVs). It is a cyclical industrial that has reshaped itself through large acquisitions, so how you think about it depends on your view of the construction, infrastructure and specialty-vehicle cycles.
TEX stock price
As of 2026-07-24, Terex Corporation (TEX) last closed at $69.83, up 33.5% over the past year. Over the past 52 weeks it has traded between $41.78 and $74.58.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Terex Corporation's investor relations page. Walnut is informational, not investment advice.
What does Terex Corporation (TEX) do?
Terex Corporation designs and manufactures a broad range of industrial and specialty equipment. Its legacy franchises include Genie aerial work platforms (mobile elevating work platforms), Materials Processing machinery for aggregates and recycling, and Terex Utilities equipment for the electric utility industry. In October 2024 it bought Environmental Solutions Group (ESG) from Dover for roughly $2.0 billion, adding waste and recycling collection vehicles, and in February 2026 it completed a merger with REV Group that added fire trucks, ambulances and recreational vehicles. The combined company trades on the NYSE under the ticker TEX with Terex shareholders owning roughly 58% and REV holders about 42%.
The investment picture is that of a cyclical industrial trying to shift its mix toward higher-margin, less-cyclical specialty and aftermarket revenue. Q1 2026 sales jumped about 41% year over year to roughly $1.7 billion, driven largely by the ESG and REV additions, with pro forma organic growth around 10.8% led by Specialty Vehicles, Material Processing and Utilities. Management is guiding to roughly $7.5 to $8.1 billion of 2026 sales while flagging tariff and macro caution, and the near-term thesis rests heavily on realizing acquisition synergies and paying down the debt taken on to fund the deals.
What's driving Terex Corporation (TEX)?
1. REV Group merger integration
The February 2026 all-stock merger with REV Group added fire apparatus, ambulances and RVs, targeting roughly $75 million of run-rate synergies by 2028 with about half expected within the first year. Execution on cost, procurement and commercial synergies is the single biggest swing factor for combined margins and earnings over the next two years.
2. Environmental Solutions Group and less-cyclical mix
The 2024 ESG acquisition added waste and recycling collection vehicles, a market with steadier replacement demand than construction equipment. Combined with utilities and specialty vehicles, it is meant to lift North America exposure and margins while dampening the historical swings of the aerials and materials-processing cycles.
3. Backlog, infrastructure and utility spending
Terex reported a backlog of roughly $7.1 billion in Q1 2026, supported by infrastructure investment, grid modernization and fleet replacement across construction, aggregates and utility customers. Sustained public and private infrastructure spending is a tailwind for the legacy Aerials, Materials Processing and Utilities franchises.
4. Deleveraging and cash generation
Net working capital improved to about 16.7% of sales and net leverage came down to roughly 2.4x in Q1 2026. Continued free-cash generation and debt paydown after the acquisition spree would give management more flexibility for dividends, buybacks and further reshaping of the portfolio.
What are the risks to Terex Corporation (TEX)?
Terex is cyclical, so a downturn in construction, aggregates or equipment-rental demand can pressure volumes and margins quickly. The company carries elevated leverage from the ESG and REV deals, and integration risk is real given two large acquisitions in roughly 18 months. Tariffs weighed on the Q1 2026 EBITDA margin (down about 50 basis points to 9.9%), and steel, component and input-cost inflation remain a swing factor. Adding fire, ambulance and RV lines also brings new end-market dynamics (municipal budgets, consumer discretionary RV demand) that behave differently from core industrial equipment.
How is Terex Corporation (TEX) valued? (approximate, July 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Terex Corporation's investor relations page or your broker.
- Share price: ~$64
- Market cap: ~$7.3B
- 2026 revenue guidance: ~$7.5B to $8.1B
- Q1 2026 revenue: ~$1.7B (up ~41% YoY)
- P/E (TTM): ~31x
- Forward dividend yield: ~1.0%
Terex trades at a market cap of roughly $7.3 billion against 2026 sales guidance of about $7.5 to $8.1 billion, with a trailing P/E in the low-30s that reflects acquisition-related noise and a depressed earnings base. Backlog of roughly $7.1 billion and net leverage near 2.4x frame both the demand support and the balance-sheet constraint. Multiples on a cyclical industrial can look elevated near a trough and cheap near a peak, so normalized earnings power matters more than the headline TTM figure.
Who competes with Terex Corporation (TEX)?
Diversified construction and industrial equipment
Caterpillar, Deere and Komatsu compete across construction, aggregates and materials-handling equipment, overlapping with Terex Aerials and Materials Processing. They are far larger and better capitalized, setting pricing and dealer-network benchmarks.
Specialty and access equipment
Oshkosh (access, fire and defense vehicles), JLG/Terex Genie peers in aerial work platforms, and specialty truck makers overlap heavily with Terex Utilities and the REV specialty-vehicle lines (fire apparatus, ambulances). PACCAR and other vocational-truck players are adjacent in chassis and utility markets.
Waste and recycling equipment
Following the ESG acquisition, Terex competes with makers of refuse collection bodies and recycling equipment, as well as the in-house fleets of large waste-services operators, where replacement demand is steadier than the construction cycle.
How to invest in Terex Corporation (TEX)
There are three common ways to get TEX exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so TEX sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where TEX fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Terex Corporation (TEX)
Terex is a mid-cap cyclical industrial in the middle of a major portfolio transformation, so the story is as much about integrating REV Group and Environmental Solutions as it is about the underlying equipment cycle.
More on Terex Corporation (TEX)
Whether TEX is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is TEX a buy?, and where the stock could go from here in the TEX stock forecast.
For income investors, whether TEX pays a dividend and how the payout looks is covered in does TEX pay a dividend?
Build a basket around TEX with Walnut
Use Terex Corporation as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Terex (TEX) do?
+
Terex makes industrial and specialty equipment: Genie aerial work platforms, Materials Processing machinery, Terex Utilities gear, Environmental Solutions waste and recycling vehicles, and, after the 2026 REV Group merger, fire trucks, ambulances and RVs.
Is TEX a large-cap stock?
+
No. As of July 2026 Terex is a mid-cap industrial with a market capitalization of roughly $7.3 billion and a share price near $64, well below diversified giants like Caterpillar or Deere.
What was the REV Group merger?
+
In February 2026 Terex completed an all-stock merger with REV Group, adding fire apparatus, ambulances and recreational vehicles. Terex shareholders own about 58% and REV holders about 42% of the combined company, which trades as TEX on the NYSE.
How did Terex perform in Q1 2026?
+
Q1 2026 revenue was about $1.7 billion, up roughly 41% year over year (about 10.8% pro forma), with EPS of $0.98. Backlog was around $7.1 billion, though the EBITDA margin slipped about 50 basis points to 9.9% on tariffs.
Does Terex pay a dividend?
+
Yes. Terex pays a quarterly cash dividend (announced at $0.17 per share around mid-2026), which works out to a forward yield of roughly 1.0% at recent prices.
Why did Terex buy Environmental Solutions Group?
+
Terex acquired ESG from Dover in October 2024 for about $2.0 billion to add waste and recycling collection vehicles, a steadier replacement-driven market meant to raise margins and reduce reliance on the more cyclical construction equipment lines.
What are the main risks with TEX?
+
Cyclicality in construction and equipment demand, elevated leverage from the ESG and REV acquisitions, integration execution risk, tariff and input-cost pressure, and new end-market exposure from fire, ambulance and RV lines.
Who competes with Terex?
+
Caterpillar, Deere and Komatsu in construction and materials equipment; Oshkosh and other specialty-vehicle makers in access, fire and utility equipment; and refuse-body and recycling-equipment makers in the waste segment.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Terex Corporation's investor relations page or your broker before making investment decisions.