Terex Corporation (TEX): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la fabricación de equipos industriales, Terex Corporation (TEX) se erige como una potencia global, navegando estratégicamente los paisajes complejos de mercado a través de su innovador lienzo de modelo de negocio. Desde las soluciones de levantamiento hasta las tecnologías de manejo de materiales, Terex ha creado meticulosamente un enfoque integral que abarca asociaciones estratégicas, investigación de vanguardia y diversos segmentos de clientes en las industrias de construcción, minería e infraestructura. Este intrincado modelo de negocio revela cómo Terex transforma la experiencia tecnológica y el alcance global en un marco robusto para un crecimiento sostenible y una ventaja competitiva.

Terex Corporation (TEX) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con distribuidores y distribuidores de equipos globales

Terex mantiene asociaciones estratégicas con distribuidores de equipos globales clave, que incluyen:

Pareja	Región	Enfoque de asociación
Komatsu Ltd.	Global	Distribución de equipos y compartir tecnología
Maquinaria de construcción de hitachi	Asia-Pacífico	Penetración del mercado conjunto
Grupo de Wirtgen	Europa	Colaboración de equipos de construcción de carreteras

Relaciones colaborativas con proveedores de componentes y tecnología

Terex colabora con proveedores de componentes críticos:

• Cummins Inc. - Suministro del motor diesel
• ZF Friedrichshafen AG - Sistemas de transmisión
• Grupo Bosch - Componentes electrónicos
• Grupo Schaeffler: componentes de rodamiento y precisión

Empresas conjuntas en mercados emergentes

Las asociaciones de expansión del mercado estratégico de Terex incluyen:

País	Socio de empresa conjunta	Valor de inversión
Porcelana	Sany industria pesada	$ 45 millones de inversión
India	Mahindra & Mahindra	Ventura colaborativa de $ 30 millones

Asociaciones con asociaciones de la industria de la construcción y la minería

Terex se involucra con asociaciones clave de la industria:

• Asociación de fabricantes de equipos (AEM)
• Asociación Internacional de Equipos de Minería y Construcción
• Instituto de la Industria de la Construcción

Colaboración tecnológica con instituciones de ingeniería e investigación

Las asociaciones de investigación y desarrollo incluyen:

Institución	Enfoque de investigación	Presupuesto de colaboración anual
Instituto de Tecnología de Massachusetts	Tecnologías de fabricación avanzadas	$ 2.5 millones
Universidad Carnegie Mellon	Sistemas de equipos autónomos	$ 1.8 millones

Terex Corporation (TEX) - Modelo de negocio: actividades clave

Diseño y fabricación de equipos de elevación y manejo de materiales

En 2023, Terex Corporation fabricó equipos en cuatro segmentos comerciales principales:

Segmento	Producción de fabricación anual	Instalaciones de producción
Plataformas de trabajo aéreo	12,500 unidades	5 sitios de fabricación global
Manejo de materiales & Soluciones portuarias	8.750 unidades	4 sitios de fabricación global
Equipo de construcción	6.200 unidades	3 sitios de fabricación global
Grúas	4.100 unidades	3 sitios de fabricación global

Investigación y desarrollo de soluciones industriales innovadoras

Inversión en I + D en 2023: $ 127.4 millones

• 3.2% de los ingresos anuales totales asignados a I + D
• 127 solicitudes de patentes activas
• 43 nuevas innovaciones tecnológicas desarrolladas

Ventas globales y marketing de equipos especializados

Región	Ingresos por ventas	Cuota de mercado
América del norte	$ 1.87 mil millones	42.3%
Europa	$ 1.22 mil millones	27.6%
Asia Pacífico	$ 0.78 mil millones	17.6%
Resto del mundo	$ 0.56 mil millones	12.5%

Ingeniería de productos e innovación tecnológica

Tamaño del equipo de ingeniería: 682 profesionales

• Ciclo promedio de desarrollo de productos: 18-24 meses
• Inversión de transformación digital: $ 42.6 millones
• Capacidades avanzadas de simulación y creación de prototipos

Servicio postventa y soporte para equipos industriales

Métrico de servicio	2023 rendimiento
Centros de servicio globales	87 ubicaciones
Tiempo de respuesta promedio	4.2 horas
Ingresos de servicio anuales	$ 324.5 millones
Tasa de satisfacción del cliente	92.7%

Terex Corporation (TEX) - Modelo de negocio: recursos clave

Instalaciones de fabricación avanzadas

Terex opera instalaciones de fabricación en múltiples países, que incluyen:

País	Número de instalaciones	Enfoque de fabricación principal
Estados Unidos	12	Equipo de construcción y manejo de materiales
Alemania	5	Grúas y equipos industriales
Porcelana	3	Equipo de manejo de materiales

Ingeniería especializada y fuerza laboral técnica

Terex emplea un total de 6.800 profesionales de ingeniería y técnicos a partir de 2023.

• Experiencia promedio de ingeniería: 12.5 años
• Inversión de I + D: $ 187 millones en 2023
• Distribución de la fuerza laboral de ingeniería:
  • Estados Unidos: 3.400 profesionales
  • Europa: 2.100 profesionales
  • Asia-Pacífico: 1.300 profesionales

Patentes de propiedad y tecnología intelectual

Terex sostiene 237 patentes activas en sus operaciones globales.

Categoría de patente	Número de patentes
Tecnología de fabricación	89
Diseño de equipos	68
Sistemas de control	47
Innovaciones de seguridad	33

Red de distribución y servicios globales

Terex mantiene una infraestructura de servicio global integral:

• Centros de servicio: 124 en todo el mundo
• Ubicaciones de distribución: 86 países
• Técnicos de servicio: 2.300 profesionales

Capital financiero

Recursos financieros a partir del cuarto trimestre 2023:

Métrica financiera	Cantidad
Activos totales	$ 5.2 mil millones
Equivalentes de efectivo y efectivo	$ 412 millones
Deuda total	$ 1.8 mil millones
Gastos de capital anuales	$ 276 millones

Terex Corporation (TEX) - Modelo de negocio: propuestas de valor

Equipos industriales confiables y de alta calidad para diversos sectores

Terex Corporation proporciona equipos industriales en múltiples sectores con el siguiente desglose del segmento:

Segmento	2023 ingresos	Tipos de equipos primarios
Procesamiento de materiales	$ 1.82 mil millones	Trituración, detección, equipo de manejo de materiales
Plataformas de trabajo aéreo	$ 2.97 mil millones	Toom Lifts, Troysor Lifts, Teleghlers
Grúas	$ 1.65 mil millones	Móvil, torre, grúas ásperas de terreno

Soluciones integrales para construcción, infraestructura y manejo de materiales

Terex ofrece soluciones integrales de equipos con áreas clave de enfoque del mercado:

• Proyectos de infraestructura de construcción
• Operaciones mineras
• Procesamiento de agregados
• Instalaciones de gestión de residuos
• Logística de puerto y terminal

Ofertas de productos tecnológicamente avanzadas e innovadoras

Las innovaciones tecnológicas incluyen:

Área tecnológica	Inversión en 2023	Enfoque clave de innovación
Soluciones digitales	$ 42 millones	Monitoreo remoto, telemática
Electrificación	$ 35 millones	Desarrollo de equipos eléctricos e híbridos

Equipo personalizable para cumplir con los requisitos específicos del cliente

Capacidades de personalización en las líneas de productos:

• Diseño de equipos modulares
• Configuraciones específicas de la aplicación
• Modificaciones de rendimiento específicas del cliente

Infraestructura de Soporte e Infraestructura de Servicio

Métricas de red de servicios globales:

Métrico de servicio	2023 datos
Centros de servicio	87 ubicaciones globales
Inventario de piezas	$ 276 millones
Tiempo de respuesta promedio	24-48 horas

Terex Corporation (TEX) - Modelo de negocio: relaciones con los clientes

Contratos de servicio y mantenimiento a largo plazo

Terex Corporation ofrece contratos de servicio integrales con una duración promedio de 3-5 años para equipos pesados. En 2023, la compañía reportó $ 412 millones en ingresos por servicio y piezas, lo que representa el 18.7% de los ingresos anuales totales.

Tipo de contrato	Duración promedio	Alcance de cobertura
Mantenimiento estándar	3 años	Inspecciones de rutina y reemplazo de piezas
Garantía extendida	5 años	Protección integral de equipos

Compromiso del equipo de ventas directo

Terex mantiene un equipo global de ventas de 247 profesionales de ventas dedicados en múltiples regiones. La fuerza de ventas se dirige a los mercados de construcción, infraestructura y equipos industriales.

• América del Norte: 98 representantes de ventas
• Europa: 72 representantes de ventas
• Asia-Pacífico: 55 representantes de ventas
• América Latina: 22 representantes de ventas

Programas de soporte técnico y capacitación

En 2023, Terex invirtió $ 18.3 millones en infraestructura de capacitación y soporte técnico del cliente. La compañía opera 12 centros de capacitación dedicados en todo el mundo.

Categoría de entrenamiento	Participantes anuales	Horas de entrenamiento
Operación de equipo	4,672	32,904 horas
Técnicas de mantenimiento	3,215	22,505 horas

Portales de clientes en línea y canales de comunicación digital

Las plataformas digitales de Terex admiten 18.500 cuentas de usuario activos en los mercados globales. El portal en línea de la compañía procesa aproximadamente 6.200 solicitudes de servicio mensuales.

Servicios de consulta de equipos personalizados

Terex ofrece una consulta de equipos personalizados con un valor de consulta promedio de $ 24,500 por cliente empresarial. En 2023, la compañía completó 412 proyectos de consulta de equipos especializados.

Tipo de consulta	Valor promedio del proyecto	Proyectos anuales
Consulta empresarial	$24,500	412
Negocio pequeño y medio	$8,750	276

Terex Corporation (TEX) - Modelo de negocios: canales

Fuerza de ventas directa

Terex emplea un equipo de ventas directo dedicado de 487 profesionales de ventas en las regiones globales a partir de 2023. La fuerza de ventas genera aproximadamente $ 4.2 mil millones en ingresos anuales a través de interacciones directas de clientes.

Región de ventas	Número de representantes de ventas	Volumen de ventas promedio
América del norte	213	$ 1.8 mil millones
Europa	124	$ 1.1 mil millones
Asia-Pacífico	95	$ 820 millones
América Latina	55	$ 480 millones

Red global de distribuidores de equipos autorizados

Terex mantiene una red integral de distribuidores de 672 distribuidores autorizados en todo el mundo, que cubre los mercados críticos en los sectores de construcción e industriales.

• América del Norte: 287 distribuidores
• Europa: 198 distribuidores
• Asia-Pacífico: 132 distribuidores
• América Latina: 55 distribuidores

Plataformas de comercio electrónico en línea

Los canales de ventas digitales de Terex generaron $ 312 millones en equipos en línea y ventas de piezas durante 2023, lo que representa el 7,4% de los ingresos totales de la compañía.

Plataforma en línea	Volumen de ventas anual	Base de usuarios
Terex directo en línea	$ 189 millones	24,500 clientes registrados
Portal de comercio electrónico de piezas	$ 123 millones	18.700 clientes registrados

Ferias y exhibiciones de la industria

Terex participa en 42 ferias comerciales internacionales anualmente, generando aproximadamente $ 215 millones en clientes potenciales de ventas y contratos directos.

Canales de marketing digital y comunicación

Terex utiliza múltiples plataformas de comunicación digital con 1.2 millones de seguidores totales en redes profesionales.

• LinkedIn: 587,000 seguidores
• Twitter: 342,000 seguidores
• YouTube: 189,000 suscriptores
• Instagram: 83,000 seguidores

Terex Corporation (TEX) - Modelo de negocio: segmentos de clientes

Empresas de construcción

A partir de 2024, Terex atiende a aproximadamente 3.500 empresas de construcción a nivel mundial. El segmento de clientes genera $ 2.1 mil millones en ingresos anuales.

Desglose del segmento	Cuota de mercado	Gasto anual
Grandes empresas de construcción	42%	$ 882 millones
Contratistas de tamaño mediano	33%	$ 693 millones
Pequeños negocios de construcción	25%	$ 525 millones

Empresas de desarrollo de infraestructura

Terex atiende a 1,200 empresas de desarrollo de infraestructura, generando $ 750 millones en ingresos.

• Proyectos de infraestructura de transporte: 45% del segmento
• Proyectos de desarrollo urbano: 35% del segmento
• Infraestructura de servicios públicos: 20% del segmento

Operaciones mineras e industriales

El segmento minero e industrial representa $ 1.5 mil millones en ingresos anuales, atendiendo a 850 clientes globales.

Tipo de industria	Número de clientes	Contribución de ingresos
Grandes corporaciones mineras	180	$ 675 millones
Operaciones mineras medianas	370	$ 525 millones
Fabricación industrial	300	$ 300 millones

Industrias de manejo de puertos y materiales

Terex atiende a 600 clientes de manejo de puertos y materiales, generando $ 680 millones en ingresos.

• Operadores portuarios globales: 40% del segmento
• Empresas de logística: 35% del segmento
• Terminales de envío: 25% del segmento

Proyectos gubernamentales y municipales

El segmento gubernamental y municipal genera $ 450 millones, atendiendo a 500 entidades del sector público.

Nivel gubernamental	Número de clientes	Gasto anual
Gobierno federal	75	$ 180 millones
Gobiernos estatales/provinciales	200	$ 160 millones
Gobiernos municipales	225	$ 110 millones

Terex Corporation (TEX) - Modelo de negocio: Estructura de costos

Gastos de fabricación y producción

Para el año fiscal 2023, Terex Corporation reportó costos de fabricación totales de $ 4.2 mil millones. El desglose de los gastos de producción incluye:

Categoría de costos	Cantidad (USD)
Costos de material directo	$ 2.1 mil millones
Costos de mano de obra directa	$ 870 millones
Sobrecarga de fabricación	$ 1.23 mil millones

Inversiones de investigación y desarrollo

Terex asignó $ 163 millones a la investigación y el desarrollo en 2023, lo que representa el 3.9% de los ingresos totales.

• El gasto de I + D se centró en la innovación en la construcción y los equipos de manejo de materiales
• Las áreas de inversión clave incluyen tecnologías eléctricas y autónomas

Fuerza laboral global y adquisición de talento

Los gastos totales de la fuerza laboral para 2023 fueron de $ 1.5 mil millones, con la siguiente composición:

Categoría de empleado	Número de empleados	Compensación total
Trabajadores manufactureros	6,800	$ 612 millones
Personal de ingeniería	2,300	$ 345 millones
Personal administrativo	1,900	$ 543 millones

Gestión de la cadena de suministro y logística

Los costos operativos de la cadena de suministro para 2023 totalizaron $ 752 millones, que incluyen:

• Logística y transporte: $ 276 millones
• Gestión de inventario: $ 194 millones
• Gestión de la relación de proveedores: $ 82 millones

Costos operativos de marketing y ventas

Los gastos de marketing y ventas para 2023 ascendieron a $ 338 millones, distribuidos en todo:

Canal de marketing	Gasto (USD)
Marketing digital	$ 89 millones
Participación de la feria comercial	$ 67 millones
Operaciones del equipo de ventas	$ 182 millones

Terex Corporation (TEX) - Modelo de negocios: flujos de ingresos

Venta de equipos en múltiples sectores industriales

En el año fiscal 2022, Terex Corporation reportó ventas netas totales de $ 4.3 mil millones en múltiples segmentos industriales:

Segmento de negocios	Ingresos ($ M)	Porcentaje
Procesamiento de materiales (MP)	1,638	38.1%
Plataformas de trabajo aéreo (AWP)	2,433	56.6%
Corporativo/eliminaciones	229	5.3%

Piezas de posventa e ingresos por servicios

Los ingresos del mercado de accesorios para Terex en 2022 representaron aproximadamente $ 860 millones, lo que constituyó el 20% de los ingresos totales de la compañía.

Programas de arrendamiento y equipos de alquiler

• Ingresos de alquiler en 2022: $ 412 millones
• Tamaño de la flota de alquiler: aproximadamente 23,000 unidades
• Tasa de utilización promedio de alquiler: 72.3%

Contratos de soporte técnico y mantenimiento

Ingresos del contrato de servicio técnico en 2022: $ 215 millones

Expansión del mercado global y ofertas de nuevos productos

Región geográfica	Ingresos ($ M)	Índice de crecimiento
América del norte	2,750	8.2%
Europa	912	5.7%
Asia Pacífico	436	4.5%
Resto del mundo	202	3.9%

Terex Corporation (TEX) - Canvas Business Model: Value Propositions

You're looking at how Terex Corporation is positioning its offerings to keep customers coming back and spending, which is really the core of a strong value proposition. It's not just about the machine you sell today; it's about the total return you help the customer achieve over the machine's entire life.

Superior Customer ROIC through Product Life-Cycle Support

Terex Corporation explicitly states its goal is to design, manufacture, and market equipment and services that deliver superior life-cycle Return on Invested Capital (ROIC) to its customers. This focus on the customer's return is central to their investor value proposition, too. For instance, Terex Corporation's reported ROIC for the trailing four quarters ending June 30, 2025, stood at 12.3%. To give you a sense of the recent trend, the ROIC was 15.0% as of March 31, 2025, and settled at 11.9% for the period ending September 30, 2025. This commitment is supported by providing lifecycle support, which includes parts and service.

Here's a quick look at some key financial performance indicators from the 2025 reporting periods:

Metric (as of period end)	Q1 2025	Q2 2025	Q3 2025
Reported Net Sales (in millions)	$1,200	$1,500	$1,400
Reported ROIC	15.0%	N/A	11.9%
Adjusted Operating Margin	9.1%	11.0%	12.1%

The full-year 2024 Adjusted ROIC was 19.4%, which continues to exceed their cost of capital.

Diversification into Low-Cyclicality Markets like Waste, Recycling, and Utilities

A major part of the value proposition involves reducing cyclicality by leaning into less volatile markets. Terex Corporation achieved this significantly with the acquisition of Environmental Solutions Group (ESG) from Dover Corporation. The all-cash transaction purchase price was $2.0 billion, or $1.725 billion net of expected tax benefits of approximately $275 million. This move established a leading presence in the waste and recycling market. Post-transaction, Terex's exposure to the recession-resilient waste sector increased to approximately 25% of sales.

The new Environmental Solutions (ES) segment, which combines ESG and Terex Utilities, is a key driver of stability. For the nine months ended September 30, 2025, the ES segment delivered net sales of $435 million in the third quarter alone, representing a 13.6% increase on a pro forma basis compared to Q3 2024. ESG itself has a history of resilient growth, delivering a 7%+ long-term organic revenue Compound Annual Growth Rate (CAGR) over the past 10 years. The transaction was expected to be double-digit percentage adjusted EPS accretive in 2025.

Sustainable Innovations, including Electric and Hybrid Equipment Offerings

Terex Corporation's product portfolio includes offerings that help customers reduce their environmental impact. This includes equipment featuring electric and hybrid capabilities, which provide quiet and emission-free performance. Furthermore, the company offers products that support renewable energy initiatives and aid in the recovery of useful materials from various types of waste. While specific revenue contribution from these sustainable offerings for 2025 isn't broken out, the focus on these technologies is a clear value driver, especially within the growing Environmental Solutions segment.

Comprehensive Parts and Service Organization for Maximum Uptime

Maximum uptime is critical for capital equipment users, and Terex Corporation supports its products through a global parts and services organization throughout the product life cycle. The ESG business, now part of the ES segment, already had recurring digital revenues that accounted for approximately 50% of its EBITDA, indicating a strong aftermarket focus. Terex MP is leveraging digital tools to streamline parts ordering via e-commerce platforms, aiming to maximize machine uptime.

The digital tools support the service organization:

• Terex Connect allows technicians to virtually see on-site issues using live video and AR annotations.
• This remote support successfully solved a complex wiring issue on a machine in Italy from a helpdesk in Northern Ireland.
• The Terex Connected Dealer Inventory (CDI) system uses telemetry data to predict required parts for upcoming service intervals.

Integrated Digital Solutions for Fleet Management and Operational Efficiency

Terex Corporation is integrating digital technologies for better fleet management and operational efficiency, which directly ties back to improving customer ROIC. The Materials Processing (MP) division utilizes telematics data to give real-time performance insights. These digital offerings are a key component of the value proposition, especially within the newly acquired ESG business, which holds the number one position in North America for associated parts and digital solutions.

Key digital metrics for Terex MP include:

• Over 15,000 connected assets across 145 countries are tracked.
• Data is distilled into actionable intelligence through tools like the 'My Terex' customer fleet app.
• The app provides users with diagnostic trouble codes, utilization charts, and service reminders.

The company is also exploring AI and IoT to improve predictive maintenance.

Finance: review Q3 2025 working capital changes by end of week.

Terex Corporation (TEX) - Canvas Business Model: Customer Relationships

You're looking at how Terex Corporation (TEX) manages its connections with customers across its diverse equipment lines, which is key given the cyclical nature of construction and materials processing.

Dedicated sales and support teams for national rental companies.

A material portion of Aerial Work Platforms (AWP) and Environmental Solutions Group (ESG) net sales is generated through national rental companies. For the second quarter of 2025, Terex noted that sales to independent rental customers declined proportionately more than sales to these national rental accounts. The AWP segment, which heavily relies on this channel, posted net sales of $607 million in the second quarter of 2025. Terex Corporation provides lifecycle support, including parts and service, designed to help these large customers maximize their return on investment.

Partnering with dealers to offer Turnkey Funding solutions.

Terex supports its global network of independent distributors and dealers, who are crucial for distributing Materials Processing (MP) products and AWP equipment. Terex Financial Services actively assists dealers in managing inventory levels through sales and rental programs. Geographically, North America remains a dominant market, representing approximately 67% of Terex Corporation's global sales, making dealer support in this region particularly important for financial health.

Direct sales and service for large utility and government customers.

The Environmental Solutions Group (ESG), which includes Terex Utilities, serves large utility and government customers directly. The company is strategically positioning its manufacturing base to align with domestic demand; Terex Corporation expects to produce approximately 75% of its 2025 U.S. equipment sales within the United States. The Environmental Solutions segment showed strong performance, with Q3 2025 net sales reaching $435 million, up 13.6% on a pro forma basis compared to Q3 2024.

Digital engagement via branded apps and online parts portals.

Terex Corporation is focusing on digital transformation to enhance customer experience throughout the product lifecycle. The Materials Processing (MP) division leverages telematics data across more than 15,000 connected assets operating in 145 countries. This data feeds into tools like the 'My Terex' customer fleet app, which simplifies key performance indicators and provides diagnostic trouble codes. Furthermore, Terex MP utilizes the Terex Connect tool, allowing technicians to virtually diagnose issues using live video and AR annotations for faster troubleshooting, exemplified by solving a complex wiring issue in Italy from a helpdesk in Northern Ireland.

Here's a quick look at the scale of digital reach versus recent sales performance:

Metric Category	Specific Data Point	Value/Amount (2025 Data)
Digital Reach	Connected Assets (MP Segment)	Over 15,000
Digital Reach	Countries with Connected Assets (MP Segment)	145
Channel Sales Impact	AWP Net Sales (Q2 2025)	$607 million
Channel Sales Impact	Overall Book-to-Bill Ratio (Q2 2025)	73%
Geographic Focus	Estimated 2025 U.S. Equipment Sales Produced in U.S.	75%

The focus on digital solutions, like e-commerce platforms that streamline parts ordering, is intended to maximize machine uptime and return on investment for the customer base.

Terex Corporation (TEX) - Canvas Business Model: Channels

The distribution and sales channels for Terex Corporation are structured to cover global reach while providing tailored financial support and aftermarket services. This multi-faceted approach ensures equipment reaches end-users across construction, waste, recycling, and utility sectors.

Global network of independent equipment dealers and distributors

Terex Corporation utilizes an extensive global network to move its Materials Processing (MP) products, which include distribution through independent distributors, direct sales, and rental companies. For Aerial Work Platforms (AWP) and telehandlers, the distribution is principally channeled through a global network of rental companies and independent distributors. The company emphasizes this network for sales support, spare parts, and service assistance. While the exact count of authorized dealers isn't publicly stated for late 2025, the structure is designed to provide support in virtually every major market worldwide.

The reliance on this channel structure is evident in segment performance, as seen in Q2 2025, where sales to independent rental customers were down proportionately more than sales to national rental customers in the Aerials segment.

Direct sales to major national and independent rental companies

Direct sales channels are critical, particularly when dealing with large fleet owners. North America, a key market for direct and dealer sales, represents approximately 67% of Terex Corporation's global sales. The company's strategy involves managing inventory and sales alignment with these large customers, as seen when legacy revenue declined in the first half of 2025 due to channel adjustments, including rental customers focusing on replacement requirements rather than new capital expenditure.

Terex Financial Services (TFS) for equipment leasing and loans

Terex Financial Services (TFS) acts as a dedicated financial resource, primarily assisting Terex Utilities customers to purchase necessary equipment. TFS offers several financing structures to meet varied customer needs:

• Loans with flexible repayment structures, ranging from monthly to annually.
• Fair Market Value Leases, often referred to as operating leases, designed for lower monthly payments.
• TRAC or Split TRAC Leases for qualified motor vehicles and trailers.

TFS is integrated with the Terex Utilities equipment sales team, providing industry understanding and remarketing expertise to maximize value. The company's overall financial health supports these activities; as of September 30, 2025, Terex Corporation maintained liquidity (cash and availability under its revolving line of credit) of $1.3 billion.

Global parts distribution centers for aftermarket sales

Lifecycle support is delivered through a global parts and services organization, which offers best-in-class support. This aftermarket channel is crucial for maximizing customer return on investment. The company's overall expected net sales for the full year 2025 are projected to be between $5.3 billion and $5.5 billion, a figure that relies on consistent aftermarket revenue streams alongside new equipment sales.

The following table summarizes key financial and operational data relevant to the channel strategy as of late 2025:

Metric	Value/Range	Date/Period Reference
Full Year 2025 Net Sales Outlook	$5.3 billion to $5.5 billion	Full Year 2025 Guidance
Q3 2025 Net Sales	$1.4 billion	Three Months Ended September 30, 2025
Backlog	$2.6 billion	As of Q1 2025 (Latest reported growth)
Global Liquidity (Cash & Credit Availability)	$1.3 billion	As of September 30, 2025
North America Share of Global Sales	67%	General Geographic Data
Q1 2025 Share Repurchase Amount	$32 million (for 758,843 shares)	Three Months Ended March 31, 2025

The focus on TFS is designed to help dealers right-size their fleets, a key trend where financial services companies must keep pace with independent rental operators who rely heavily on financing compared to large national companies.

Terex Corporation (TEX) - Canvas Business Model: Customer Segments

You're looking at the core customers Terex Corporation serves as of late 2025, which is a mix of heavy industry, infrastructure, and increasingly, environmental services. Honestly, the company's strategy is clearly shifting toward less-cyclical areas, which you see reflected in their segment performance.

Waste and recycling companies are a major growth area, largely driven by the integration and performance of the Environmental Solutions Group (ESG). This focus area is key to making Terex Corporation a more resilient, less-cyclical company. In the first quarter of 2025, the Environmental Solutions (ES) segment, which includes Terex Utilities and ESG, generated approximately $400 million in sales, which was about a third of the total company sales for that quarter. Management noted in their Q3 2025 commentary that ES continued to grow and achieve strong margins in line with expectations. By Q2 2025, waste and recycling, utilities, and infrastructure combined represented more than half of Terex Corporation's global revenue.

Equipment rental companies, both national and independent, are primary customers for the Aerial Work Platforms (AWP) segment, which includes the Genie brand. However, this group showed some caution in late 2025. For instance, in the third quarter of 2025, AWP net sales were $537 million, but the segment noted lower volume in North America because rental customers were deploying less capital expenditure, focusing mainly on replacement needs. This follows a trend where legacy businesses adapted to industry-wide channel adjustments in the second half of 2024 that were expected to carry into the first half of 2025.

The construction, quarrying, and mining industries are the core market for the Materials Processing (MP) segment. This segment executed in line with expectations in Q3 2025 despite challenging conditions in some of its markets. The net sales for the Materials Processing segment in the third quarter of 2025 were $417 million. This contrasts with the first quarter of 2025, where MP sales were reported at $382 million, showing some sequential improvement or fluctuation based on end-market demand and inventory rebalancing at dealers.

For electric utility and infrastructure contractors, Terex Corporation provides equipment through its Terex Utilities business, which is grouped under the ES segment. This customer base is expected to carry strong momentum into 2025. The overall company outlook for full-year 2025 net sales is targeted between $5.3 billion and $5.5 billion, which shows the expected contribution from these infrastructure-related sectors offsetting declines elsewhere.

Government and municipal entities are served across multiple segments, particularly through the utility and waste/recycling equipment lines, as these sectors often have stable, non-discretionary capital spending cycles. While specific revenue figures are not broken out for this group alone, their needs align closely with the growth trajectory of the Environmental Solutions segment.

Here's a quick look at the latest reported segment sales figures to show you where the revenue is coming from as of late 2025:

Customer-Relevant Segment	Q3 2025 Net Sales (USD Millions)	Q1 2025 Net Sales (USD Millions)	Primary End Market Focus
Aerials (AWP)	$537	$450	Equipment Rental, General Construction
Materials Processing (MP)	$417	$382	Construction, Quarrying, Mining, Recycling
Environmental Solutions (ES)	Not Separately Reported in Q3 Detail	$400	Waste & Recycling, Electric Utility

The company is definitely focused on maximizing customer return on investment across these groups. If onboarding takes 14+ days, churn risk rises, especially with rental customers who need quick fleet turnover.

Terex Corporation (TEX) - Canvas Business Model: Cost Structure

You're looking at the major expenses Terex Corporation is dealing with as of late 2025. The cost structure is heavily influenced by input prices and strategic moves, so let's look at the hard numbers.

High cost of goods sold is a primary driver, directly tied to raw material pricing, especially steel. For the third quarter of 2025, the Cost of Goods Sold was reported at $1,105 million, up from $967 million in the third quarter of 2024. Year-to-date through the third quarter of 2025, the cumulative Cost of Goods Sold reached $3,300 million, compared to $3,015 million for the same period in 2024.

Tariff-related costs present a significant, quantifiable headwind. Terex Corporation expects the full year net unfavorable impact of tariffs on Earnings Per Share (EPS) to be approximately $0.70. This impact is due to factors like the expanded scope of the 232 steel and aluminum tariff and the 15% reciprocal tariff on the European Union.

Manufacturing and labor costs are spread across Terex Corporation's global production facilities. The company noted that higher material, logistics, and labor costs impacted efficiency in the Aerial Work Platform (AWP) segment during the second half of the prior year. For Q3 2025, the reported Operating Profit was $140 million, which represents an operating margin of 10.1% of net sales of $1.4 billion. Adjusted operating profit for that quarter was $168 million, or 12.1% of net sales. Terex Corporation maintains a substantial U.S. manufacturing footprint; about 75% of its 2025 U.S. machine sales are expected to come from products made in at least one of its 11 U.S. facilities.

Major strategic transactions also factor into the cost base, though some are historical or future-looking. The acquisition of Environmental Solutions Group (ESG) was an all-cash transaction for $2.0 billion, or $1.725 billion net of expected tax benefits of approximately $275 million. Separately, the announced merger with REV Group, expected to close in the first half of 2026, projects at least $75 million in annual run-rate synergies.

Research and development (R&D) is an ongoing investment for new product innovation. Terex Corporation's latest twelve months R&D expenses stand at $25 million. This is below the average of $37.22 million seen in the fiscal years ending 2020 through 2024.

Here is a snapshot of key cost-related financial figures:

Cost Element	Period/Basis	Amount (Millions USD)	Detail
Cost of Goods Sold	Q3 2025	1,105	Actual Reported
Cost of Goods Sold	Nine Months Ended Q3 2025	3,300	Actual Reported
R&D Expenses	Latest Twelve Months	25	Actual Reported
ESG Acquisition Cost	Total Cash Outlay	2,000	Historical Major Cost
Tariff Impact on EPS	Full Year 2025 Estimate	0.70	Unfavorable Impact ($)

The cost structure is being managed through several levers:

• Cost reduction actions partially offset lower sales volume in Q3 2025.
• Anticipated operational synergies of at least $25 million from the ESG acquisition by the end of 2026.
• Focus on reducing fixed costs through digital technology and efficiency improvements.

Finance: review the Q4 2025 cost projections against the $0.70 per share tariff impact by next Tuesday.

Terex Corporation (TEX) - Canvas Business Model: Revenue Streams

Terex Corporation projects full-year 2025 net sales to be between $5.3 billion and $5.5 billion. This outlook represents an increase of $200 million to $400 million higher sales year-over-year.

Equipment sales are distributed across the three primary operating segments. The most recent detailed segment revenue snapshot comes from the third quarter of 2025:

Segment	Q3 2025 Net Sales (in millions USD)
Aerials	$537
Materials Processing (MP)	$417
Environmental Solutions (ES)	$435

The total net sales for the third quarter of 2025 were $1.4 billion. Excluding the Environmental Solutions segment, legacy revenue declined by 8.2% year-over-year in the third quarter of 2025.

The Environmental Solutions segment is a key driver, with third quarter 2025 net sales reaching $435 million, up 13.6% on a pro forma basis compared to Q3 2024. The full-year 2025 outlook for the Environmental Solutions segment was raised to deliver low double-digit growth. The second quarter 2025 net sales for this segment were $430 million.

Terex Corporation supports its equipment sales with high-margin aftermarket parts and services revenue. This includes providing genuine OEM parts and lifecycle support through a global network of service centers.

• The company provides lifecycle support through its global parts and services organization.
• Digital solutions, such as ESG's 3rd Eye digital suite, are complementary offerings.