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                                                            EXHIBIT 11


                      NAVISTAR INTERNATIONAL CORPORATION
                               AND SUBSIDIARIES
                      ----------------------------------
               COMPUTATION OF NET INCOME (LOSS) PER COMMON SHARE


     A.  Primary:  See the Statement of Income contained in the Navistar
International Corporation 1995 Annual Report to Shareowners incorporated
herein by reference.
 
     B.  Full Dilution:  Net income (loss) per common share assuming full
dilution is computed by assuming that all options and warrants which are
exercisable below market prices are assumed to be exercised, and the proceeds
applied to reduce common stock outstanding.  The computations assume that
convertible preferred and preference stock are converted to common stock. 
Income (loss) is divided by the weighted average number of common shares
outstanding and unconditionally issuable at the end of each month during the
period, adjusted for the net effects of the exercise of options and warrants
and the conversion of convertible preferred and preference stocks.


                                                YEARS ENDED OCTOBER 31
Millions of Dollars                          1995       1994       1993  
--------------------------------------     --------   --------   --------
Income (loss) of continuing operations     $    164   $    102   $   (273)
Loss of discontinued operations ......            -        (20)         -
                                           --------   --------   --------
Income (loss) before cumulative effect
  of changes in accounting policy.....          164         82       (273)
Cumulative effect of changes
  in accounting policy ...............            -          -       (228)
                                            --------   --------   --------
Net income (loss) ....................      $    164   $     82   $   (501)
                                            ========   ========   ========

Average common and common equivalent shares (millions):

Average common shares outstanding 
  as adjusted per primary computation          74.3       74.6       34.9
Assuming conversion of Series G .....            .6         .6         .6
Assuming conversion of Series D .....             -          -         .1
                                            --------   --------   --------
Average common and dilutive
  common equivalent shares as adjusted          74.9       75.2       35.6
                                            ========   ========   ========
Income (loss) per common share assuming
  full dilution (dollars):
    Continuing operations ..........        $   2.20 # $   1.36 # $  (7.64)#
    Discontinued operations ........               -       (.27)         -
    Cumulative effect of changes in
      accounting policy ..........                 -          -      (6.42)#
                                            --------   --------   --------
Net income (loss) ................          $   2.20 # $   1.09 # $ (14.06)#
                                            ========   ========   ========


     # This calculation is submitted in accordance with Regulation S-K item
601(b)(11) of the Securities Exchange Act, although it is contrary to
paragraph 40 of APB Opinion No. 15 because it produces an anti-dilutive
result.                            





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