CNH Industrial N.V., owner of the Case IH, New Holland and Steyr tractor and farm machinery brands, has reported results for the twelve months ended December 31, 2025. Full year 2025 consolidated revenues were $18.10 billion, down 9% year-over-year, with Net sales of Industrial Activities at $15.35 billion, down 10%.
Full year net income was $505 million compared to 2024 net income of $1,259 million. Full year diluted earnings per share was $0.41 compared to $0.99 in 2024. Adjusted net income was $703 million compared to $1,339 million in 2024, with adjusted diluted earnings per share of $0.55 compared to $1.05 in 2024. Full year net cash provided by operating activities was $2,538 million, and Industrial Free Cash Flow was $513 million.
“Despite a challenging market environment, CNH delivered solid progress toward its long-term goals in 2025 and strengthened its foundation for success,” said Gerrit Marx, CNH Chief Executive Officer. “We continued reducing dealer inventories, advanced our Quality and Operational Excellence initiatives, and introduced products that directly address the evolving needs of farmers and builders.
“Our teams executed with discipline, focusing on what we can control while supporting our customers through dynamic economic conditions. As we move into 2026, we remain committed to prudent production planning, purposeful innovation, and delivering superior iron and technology integration. In this industry trough year, while markets are still moving slowly, CNH is moving fast in its transformation and engagement of exceptional colleagues to deliver on our ambitious commitments,” he said.
