Terex Corporation (Tex): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de la fabrication d'équipements industriels, Terex Corporation (TEX) est une puissance mondiale, naviguant stratégiquement des paysages de marché complexes grâce à sa toile innovante du modèle commercial. Des solutions de levage aux technologies de manutention des matériaux, Terex a méticuleusement conçu une approche globale qui couvre des partenariats stratégiques, des recherches de pointe et divers segments de clients dans les secteurs de la construction, de l'exploitation minière et de l'infrastructure. Ce modèle commercial complexe révèle comment Terex transforme l'expertise technologique et la portée mondiale en un cadre robuste pour une croissance durable et un avantage concurrentiel.

Terex Corporation (Tex) - Modèle commercial: partenariats clés

Alliances stratégiques avec les concessionnaires et distributeurs mondiaux

Terex maintient des partenariats stratégiques avec les principaux concessionnaires mondiaux d'équipement, notamment:

Partenaire	Région	Focus de partenariat
Komatsu Ltd.	Mondial	Distribution des équipements et partage de technologie
Hitachi Construction Machinery	Asie-Pacifique	Pénétration du marché conjoint
Groupe Wirtgen	Europe	Collaboration des équipements de construction de routes

Relations collaboratives avec les fournisseurs de composants et de technologies

Terex collabore avec les fournisseurs de composants critiques:

• Cummins Inc. - Alimentation du moteur diesel
• ZF Friedrichshafen AG - Systèmes de transmission
• Groupe Bosch - composants électroniques
• Groupe Schaeffler - Composants de roulement et de précision

Coentreprises sur les marchés émergents

Les partenariats d'expansion stratégique du marché de Terex comprennent:

Pays	Coentreprise	Valeur d'investissement
Chine	Industrie lourde sany	45 millions de dollars d'investissement
Inde	Mahindra & Mahindra	Venture collaborative de 30 millions de dollars

Partenariats avec les associations de la construction et de l'industrie minière

Terex s'engage avec les principales associations de l'industrie:

• Association des fabricants d'équipements (AEM)
• Association internationale d'équipements de mines et de construction
• Institut de l'industrie de la construction

Collaboration technologique avec les institutions d'ingénierie et de recherche

Les partenariats de recherche et développement comprennent:

Institution	Focus de recherche	Budget de collaboration annuel
Institut de technologie du Massachusetts	Technologies de fabrication avancées	2,5 millions de dollars
Université Carnegie Mellon	Systèmes d'équipement autonome	1,8 million de dollars

Terex Corporation (Tex) - Modèle d'entreprise: activités clés

Conception et fabrication d'équipements de levage et de manutention des matériaux

En 2023, Terex Corporation a fabriqué des équipements dans quatre segments d'activité principaux:

Segment	Sortie de fabrication annuelle	Installations de production
Plates-formes de travail aérien	12 500 unités	5 sites de fabrication mondiaux
Manutention des matériaux & Solutions portuaires	8 750 unités	4 sites de fabrication mondiaux
Équipement de construction	6 200 unités	3 sites de fabrication mondiaux
Grues	4 100 unités	3 sites de fabrication mondiaux

Recherche et développement de solutions industrielles innovantes

Investissement en R&D en 2023: 127,4 millions de dollars

• 3,2% du total des revenus annuels alloués à la R&D
• 127 Demandes de brevet actifs
• 43 nouvelles innovations technologiques développées

Ventes mondiales et commercialisation d'équipements spécialisés

Région	Revenus de vente	Part de marché
Amérique du Nord	1,87 milliard de dollars	42.3%
Europe	1,22 milliard de dollars	27.6%
Asie-Pacifique	0,78 milliard de dollars	17.6%
Reste du monde	0,56 milliard de dollars	12.5%

Ingénierie des produits et innovation technologique

Taille de l'équipe d'ingénierie: 682 professionnels

• Cycle de développement moyen des produits: 18-24 mois
• Investissement de transformation numérique: 42,6 millions de dollars
• Capacités avancées de simulation et de prototypage

Service après-vente et support pour l'équipement industriel

Métrique de service	Performance de 2023
Centres de services mondiaux	87 emplacements
Temps de réponse moyen	4,2 heures
Revenus de services annuels	324,5 millions de dollars
Taux de satisfaction client	92.7%

Terex Corporation (Tex) - Modèle d'entreprise: Ressources clés

Installations de fabrication avancées

Terex exploite des installations de fabrication dans plusieurs pays, notamment:

Pays	Nombre d'installations	Focus de fabrication primaire
États-Unis	12	Équipement de construction et de manutention des matériaux
Allemagne	5	Grues et équipement industriel
Chine	3	Équipement de manutention des matériaux

Ingénierie qualifiée et main-d'œuvre technique

Terex emploie un total de 6 800 professionnels de l'ingénierie et des techniques en 2023.

• Expérience d'ingénierie moyenne: 12,5 ans
• Investissement en R&D: 187 millions de dollars en 2023
• Distribution de la main-d'œuvre d'ingénierie:
  • États-Unis: 3 400 professionnels
  • Europe: 2 100 professionnels
  • Asie-Pacifique: 1 300 professionnels

Brevets de propriété intellectuelle et technologique

Terex tient 237 brevets actifs à travers ses opérations mondiales.

Catégorie de brevet	Nombre de brevets
Technologie de fabrication	89
Conception de l'équipement	68
Systèmes de contrôle	47
Innovations de sécurité	33

Réseau mondial de distribution et de service

Terex maintient une infrastructure de service mondiale complète:

• Centres de service: 124 dans le monde
• Emplacements de distribution: 86 pays
• Techniciens de service: 2 300 professionnels

Capital financier

Ressources financières au quatrième trimestre 2023:

Métrique financière	Montant
Actif total	5,2 milliards de dollars
Equivalents en espèces et en espèces	412 millions de dollars
Dette totale	1,8 milliard de dollars
Dépenses en capital annuelles	276 millions de dollars

Terex Corporation (Tex) - Modèle d'entreprise: propositions de valeur

Équipement industriel fiable et fiable de haute qualité pour divers secteurs

Terex Corporation fournit des équipements industriels dans plusieurs secteurs de la rupture du segment suivant:

Segment	Revenus de 2023	Types d'équipement primaires
Traitement des matériaux	1,82 milliard de dollars	Équipement d'écrasement, de dépistage, de manutention des matériaux
Plates-formes de travail aérien	2,97 milliards de dollars	Ascenseurs de flèche, ascenseurs de ciseaux, téléchaumeurs
Grues	1,65 milliard de dollars	Mobile, tour, grues à terrain rugueux

Solutions complètes pour la construction, les infrastructures et la manutention des matériaux

Terex propose des solutions d'équipement complètes avec les principaux domaines de mise au point du marché:

• Projets d'infrastructure de construction
• Opérations minières
• Traitement des agrégats
• Installations de gestion des déchets
• Logistique du port et du terminal

Offres de produits technologiquement avancées et innovantes

Les innovations technologiques comprennent:

Zone technologique	Investissement en 2023	Focus de l'innovation clé
Solutions numériques	42 millions de dollars	Surveillance à distance, télématique
Électrification	35 millions de dollars	Développement d'équipements électriques et hybrides

Équipement personnalisable pour répondre aux exigences spécifiques des clients

Capacités de personnalisation entre les gammes de produits:

• Conception d'équipement modulaire
• Configurations spécifiques à l'application
• Modifications de performance spécifiques au client

Infrastructure mondiale de soutien et de service

Métriques du réseau de services mondiaux:

Métrique de service	2023 données
Centres de service	87 emplacements mondiaux
Inventaire des pièces	276 millions de dollars
Temps de réponse moyen	24-48 heures

Terex Corporation (TEX) - Modèle d'entreprise: Relations clients

Contrats de service et de maintenance à long terme

Terex Corporation propose des contrats de service complets avec une durée moyenne de 3 à 5 ans pour l'équipement lourd. En 2023, la société a déclaré 412 millions de dollars de services de service et de pièces, ce qui représente 18,7% des revenus annuels totaux.

Type de contrat	Durée moyenne	Portée de la couverture
Entretien standard	3 ans	Inspections de routine et remplacement des pièces
Garantie prolongée	5 ans	Protection complète de l'équipement

Engagement de l'équipe de vente directe

Terex maintient une équipe de vente mondiale de 247 professionnels des ventes dédiés dans plusieurs régions. La force de vente cible les marchés de construction, d'infrastructures et d'équipements industriels.

• Amérique du Nord: 98 représentants des ventes
• Europe: 72 représentants des ventes
• Asie-Pacifique: 55 représentants des ventes
• Amérique latine: 22 représentants des ventes

Programmes de soutien technique et de formation

En 2023, Terex a investi 18,3 millions de dollars dans une infrastructure de formation client et de support technique. L'entreprise exploite 12 centres de formation dédiés dans le monde.

Catégorie de formation	Participants annuels	Heures de formation
Opération de l'équipement	4,672	32 904 heures
Techniques de maintenance	3,215	22 505 heures

Portails de clients en ligne et canaux de communication numériques

Les plates-formes numériques Terex prennent en charge 18 500 comptes d'utilisateurs actifs sur les marchés mondiaux. Le portail en ligne de l'entreprise traite environ 6 200 demandes de service mensuelles.

Services de consultation en équipement personnalisés

Terex fournit une consultation d'équipement personnalisée avec une valeur de consultation moyenne de 24 500 $ par client d'entreprise. En 2023, la société a réalisé 412 projets de consultation d'équipement spécialisés.

Type de consultation	Valeur moyenne du projet	Projets annuels
Consultation en entreprise	$24,500	412
Petite entreprise	$8,750	276

Terex Corporation (Tex) - Modèle d'entreprise: canaux

Force de vente directe

Terex utilise une équipe de vente directe dédiée de 487 professionnels des ventes dans les régions mondiales en 2023. La force de vente génère environ 4,2 milliards de dollars de revenus annuels grâce à des interactions clients directes.

Région de vente	Nombre de représentants commerciaux	Volume moyen des ventes
Amérique du Nord	213	1,8 milliard de dollars
Europe	124	1,1 milliard de dollars
Asie-Pacifique	95	820 millions de dollars
l'Amérique latine	55	480 millions de dollars

Réseau mondial de concessionnaires d'équipement autorisés

Terex maintient un réseau complet de concessionnaires de 672 concessionnaires autorisés dans le monde, couvrant les marchés critiques dans tous les secteurs de construction et industriels.

• Amérique du Nord: 287 concessionnaires
• Europe: 198 concessionnaires
• Asie-Pacifique: 132 concessionnaires
• Amérique latine: 55 concessionnaires

Plateformes de commerce électronique en ligne

Les canaux de vente numériques de Terex ont généré 312 millions de dollars de ventes d'équipements et de pièces en ligne au cours de 2023, ce qui représente 7,4% du total des revenus de l'entreprise.

Plate-forme en ligne	Volume des ventes annuelles	Base d'utilisateurs
Terex Direct en ligne	189 millions de dollars	24 500 clients enregistrés
Portail de commerce électronique des pièces	123 millions de dollars	18 700 clients enregistrés

Salons et expositions commerciales de l'industrie

Terex participe à 42 salons internationaux chaque année, générant environ 215 millions de dollars en prospects et contrats directs.

Canaux de marketing numérique et de communication

Terex utilise plusieurs plateformes de communication numérique avec 1,2 million de followers au total sur les réseaux professionnels.

• LinkedIn: 587 000 abonnés
• Twitter: 342 000 abonnés
• YouTube: 189 000 abonnés
• Instagram: 83 000 abonnés

Terex Corporation (Tex) - Modèle d'entreprise: segments de clients

Entreprises de construction

En 2024, Terex dessert environ 3 500 entreprises de construction à l'échelle mondiale. Le segment de la clientèle génère 2,1 milliards de dollars de revenus annuels.

Répartition du segment	Part de marché	Dépenses annuelles
Grandes entreprises de construction	42%	882 millions de dollars
Entrepreneurs de taille moyenne	33%	693 millions de dollars
Petites entreprises de construction	25%	525 millions de dollars

Entreprises de développement des infrastructures

Terex dessert 1 200 sociétés de développement d'infrastructures, générant 750 millions de dollars de revenus.

• Projets d'infrastructure de transport: 45% du segment
• Projets de développement urbain: 35% du segment
• Infrastructure utilitaire: 20% du segment

Exploitation minière et industrielle

Le segment minière et industriel représente 1,5 milliard de dollars de revenus annuels, desservant 850 clients mondiaux.

Type de l'industrie	Nombre de clients	Contribution des revenus
Grandes sociétés minières	180	675 millions de dollars
Opérations minières moyennes	370	525 millions de dollars
Fabrication industrielle	300	300 millions de dollars

Industries des ports et des matériaux

Terex dessert 600 clients de port et de matériaux, générant 680 millions de dollars de revenus.

• Opérateurs portuaires mondiaux: 40% du segment
• Sociétés de logistique: 35% du segment
• Terminaux d'expédition: 25% du segment

Projets gouvernementaux et municipaux

Le segment gouvernemental et municipal génère 450 millions de dollars, desservant 500 entités du secteur public.

Niveau du gouvernement	Nombre de clients	Dépenses annuelles
Gouvernement fédéral	75	180 millions de dollars
Gouvernements étatiques / provinciaux	200	160 millions de dollars
Gouvernements municipaux	225	110 millions de dollars

Terex Corporation (Tex) - Modèle d'entreprise: Structure des coûts

Frais de fabrication et de production

Pour l'exercice 2023, Terex Corporation a déclaré des coûts de fabrication totaux de 4,2 milliards de dollars. La rupture des dépenses de production comprend:

Catégorie de coûts	Montant (USD)
Coûts de matériel direct	2,1 milliards de dollars
Coûts de main-d'œuvre directes	870 millions de dollars
Fabrication des frais généraux	1,23 milliard de dollars

Investissements de recherche et développement

Terex a alloué 163 millions de dollars à la recherche et au développement en 2023, ce qui représente 3,9% des revenus totaux.

• Les dépenses de R&D se sont concentrées sur l'innovation dans l'équipement de construction et de manutention des matériaux
• Les principaux domaines d'investissement comprennent les technologies électriques et autonomes

Global Workforce and Talent Acquisition

Les dépenses totales de la main-d'œuvre pour 2023 étaient de 1,5 milliard de dollars, avec la composition suivante:

Catégorie des employés	Nombre d'employés	Compensation totale
Fabrication de travailleurs	6,800	612 millions de dollars
Personnel d'ingénierie	2,300	345 millions de dollars
Personnel administratif	1,900	543 millions de dollars

Gestion de la chaîne d'approvisionnement et de la logistique

Les coûts d'exploitation de la chaîne d'approvisionnement pour 2023 ont totalisé 752 millions de dollars, notamment:

• Logistique et transport: 276 millions de dollars
• Gestion des stocks: 194 millions de dollars
• Gestion des relations avec les fournisseurs: 82 millions de dollars

Coûts opérationnels de marketing et de vente

Les frais de marketing et de vente pour 2023 s'élevaient à 338 millions de dollars, distribués à travers:

Canal de marketing	Dépenses (USD)
Marketing numérique	89 millions de dollars
Participation des salons commerciaux	67 millions de dollars
Opérations de l'équipe de vente	182 millions de dollars

Terex Corporation (Tex) - Modèle d'entreprise: Strots de revenus

Ventes d'équipement dans plusieurs secteurs industriels

Au cours de l'exercice 2022, Terex Corporation a déclaré des ventes nettes totales de 4,3 milliards de dollars sur plusieurs segments industriels:

Segment d'entreprise	Revenus ($ m)	Pourcentage
Traitement des matériaux (MP)	1,638	38.1%
Plateformes de travail aérien (AWP)	2,433	56.6%
Entreprise / éliminations	229	5.3%

Pièces de rechange et revenus de service

Les revenus du marché secondaire pour Terex en 2022 représentaient environ 860 millions de dollars, ce qui représente 20% du total des revenus de l'entreprise.

Programmes d'équipement de location et de location

• Revenus de location en 2022: 412 millions de dollars
• Taille de la flotte de location: environ 23 000 unités
• Taux moyen d'utilisation de la location: 72,3%

Contrats de support technique et de maintenance

Revenus du contrat de service technique en 2022: 215 millions de dollars

Expansion du marché mondial et offres de nouveaux produits

Région géographique	Revenus ($ m)	Taux de croissance
Amérique du Nord	2,750	8.2%
Europe	912	5.7%
Asie-Pacifique	436	4.5%
Reste du monde	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.