CNH Industrial N.V. is a worldwide leading capital goods manufacturer and supplier. The company has five operating segments, each of which reports its sales and revenue separately. These segments include Agricultural Equipment, Construction Equipment, Commercial Vehicles, Powertrain, and Financial Services. This report focuses on Agricultural Equipment and Construction Equipment, although we also list company revenues that include all five reporting segments. These revenues for CNH Industrial do not include totals from CNH Industrial Capital LLC, which provides financing for new and used agricultural and construction equipment and is not discussed in this report.
Although several of the companies in CNH Industrial have been around for decades, the company was formed on September 29, 2013, the result of a merger between Fiat Industrial and its subsidiary, CNH Global. CNH Industrial is incorporated within the legal system of the Netherlands, although its main office is in London, England. The company is listed on both the New York and Milan stock exchanges.
Agricultural Equipment is CNH Industrial’s strongest segment, accounting for 37.4 percent of company revenue in 2017. Its primary competitors are John Deere and AGCO, while Claas, the Argo Group, the Same Deutz Fahar Group, and Kubota serve as a secondary level of competition, especially in international markets. Most of Agricultural Equipment’s product lines are sold under the Case IH and New Holland brands. In addition, products are sold under the Steyr brand in Europe and under the Miller brand in North America and Australia. Following CNH Industrial’s acquisition of Kongskilde Industries in February, 2017, agricultural implements and products are sold under the Kongskilde, Overum, Howard, and JF brands.