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Held by 638 of 6,047 reporting institutions (97th percentile) — extremely crowded.
Data as of Q2 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2023, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $43.83 today, the market must believe free cash flow compounds -2.4%/yr for a decade (off $1.38B on the 3-yr avg basis).
On the basis ($1.25B) the requirement is -1.1%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's -2.4% is more conservative than its 9-yr track record.
Default is 9.1% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.21B shares (market data) · net debt $5.92B
mean 11.6% · volatility σ 56% · implied rate exceeded in 5/9 yrs
Central path = implied -2.4%/yr growth; shaded band = ±1σ (56%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 27 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MGA | $17.5B | 22.3× | 5.4× | 0.4× | -1.9% | 14.3% | 2.0% | 6.6% | 4.8% | 0.8× | 437 |
| BWA | $12.3B | 47.3× | 12.9× | 0.9× | 1.6% | 18.7% | 1.9% | 5.1% | 3.0% | 3.1× | 780 |
| ALSN | $9.2B | 15.2× | 10.6× | 3.1× | -6.7% | 48.6% | 20.7% | 33.4% | 13.1% | 1.4× | 543 |
| APTV | $9.2B | 59.0× | 7.7× | 0.5× | 3.5% | 19.1% | 0.8% | 1.8% | 1.0% | 3.0× | 638 |
| MOD | $9.2B | 76.4× | 22.5× | 2.9× | 23.1% | 23.0% | 3.8% | 10.2% | 7.7% | 0.8× | 607 |
| ALV | $8.3B | 11.9× | 6.6× | 0.8× | 4.1% | 19.2% | 6.8% | 28.6% | 15.6% | 1.0× | 395 |
| LEA | $5.9B | 14.7× | 5.5× | 0.3× | -0.2% | 6.5% | 1.9% | 8.7% | 5.6% | 1.2× | 497 |
| GTX | $4.8B | 17.0× | 12.8× | 1.3× | 3.1% | 20.4% | 8.6% | -38.7% | 50.3% | 2.6× | 437 |
| GNTX | $4.4B | 12.0× | 7.4× | 1.7× | 9.6% | 34.2% | 15.2% | 15.5% | 15.4% | -0.3× | 505 |
| DORM | $3.7B | 18.6× | — | 1.7× | 6.0% | 42.1% | 9.6% | 13.8% | 10.7% | — | 310 |
| ATMU | $3.6B | 17.5× | 11.9× | 2.0× | 5.7% | 28.2% | 11.8% | 54.8% | 21.9% | 1.0× | 317 |
| DAN | $3.1B | 44.5× | 6.6× | 0.4× | -3.0% | 8.0% | 1.1% | 10.1% | 5.8% | 0.3× | 328 |
| VC | $2.3B | 11.9× | — | 0.6× | -2.5% | 14.1% | 5.3% | 12.8% | 10.8% | — | 311 |
| PHIN | $2.1B | 17.4× | 6.5× | 0.6× | 2.4% | 21.9% | 3.7% | 8.2% | 5.1% | 1.5× | 378 |
| PATK | $2.1B | 16.5× | 7.5× | 0.5× | 6.3% | 23.1% | 3.4% | 11.4% | 5.5% | 2.8× | 318 |
| LCII | $1.9B | 10.5× | 6.6× | 0.5× | 10.2% | 23.8% | 4.6% | 13.8% | 8.2% | 1.8× | 346 |
| THRM | $1.7B | 52.6× | 13.4× | 1.1× | 2.9% | 24.2% | 1.2% | 2.5% | 2.0% | 0.2× | 248 |
| ADNT | $1.4B | — | — | 0.1× | -1.0% | 6.6% | -1.9% | -15.9% | -6.8% | — | 305 |
| DCH | $1.3B | — | 8.2× | 0.2× | -4.7% | 12.1% | -0.3% | -3.1% | -0.4% | 5.9× | — |
| SMP | $827M | 20.1× | 7.6× | 0.5× | 22.4% | 31.2% | 2.3% | 6.0% | 3.2% | 3.0× | 183 |
| CPS | $380M | — | 1.5× | 0.1× | 0.4% | 11.9% | -0.2% | 5.0% | -158% | -0.6× | 134 |
| HLLY | $308M | 15.9× | 8.6× | 0.5× | 1.9% | 43.4% | 3.1% | 4.3% | 2.0% | 5.3× | 131 |
| STRT | $254M | 12.7× | 3.5× | 0.4× | 2.5% | 16.5% | 3.6% | 8.6% | 8.6% | -2.6× | 120 |
| MPAA | $201M | 17.1× | 2.5× | 0.3× | 4.3% | 20.2% | 1.6% | 4.7% | 4.7% | -0.2× | 107 |
| RLEA | $185M | 64.3× | — | 37.7× | -29.2% | 16.2% | 58.5% | 998% | 998% | — | — |
Peers = companies sharing APTV's sector (Motor Vehicle Parts & Accessories) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $397.0M buybacks = $397.0M returned on $1.53B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A balanced mix of reinvestment and shareholder returns.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: 1%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $1.57B covers the $81.0M due within a year 19.4× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~4.8% on $7.49B of debt.
Cash of $1.57B fully covers short-term debt of $23.0M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-14
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.40B 100.0% | $19.71B 100.0% | $20.05B 100.0% | $17.49B 100.0% | $15.62B 100.0% | $13.07B 100.0% | $14.36B 100.0% | $14.44B 100.0% | $12.88B 100.0% | $12.27B 100.0% |
| Cost of Revenue | $16.50B 80.9% | $16.00B 81.2% | $16.61B 82.8% | $14.85B 84.9% | $13.18B 84.4% | $11.13B 85.2% | $11.71B 81.6% | $11.71B 81.1% | $10.27B 79.7% | $9.53B 77.6% |
| Cost of Products | — | — | — | — | — | — | — | — | $10.27B 79.7% | $9.53B 77.6% |
| Gross Profit | — | — | — | — | — | $1.94B 14.8% | $2.65B 18.4% | $2.73B 18.9% | $2.61B 20.3% | $2.75B 22.4% |
| Research & Development | $1.13B 5.5% | $1.10B 5.6% | $1.29B 6.4% | $1.12B 6.4% | $1.03B 6.6% | $1.02B 7.8% | $1.17B 8.1% | $1.16B 8.0% | $882.0M 6.8% | $800.0M 6.5% |
| Selling, General & Admin | $1.67B 8.2% | $1.47B 7.4% | $1.44B 7.2% | $1.14B 6.5% | $1.07B 6.9% | $976.0M 7.5% | $1.08B 7.5% | $993.0M 6.9% | $952.0M 7.4% | $924.0M 7.5% |
| Total Operating Expenses | $19.21B 94.2% | $17.87B 90.7% | $18.49B 92.2% | $16.23B 92.8% | $14.43B 92.4% | $10.95B 83.8% | $13.08B 91.1% | $12.96B 89.8% | $11.47B 89.0% | $10.73B 87.5% |
| Operating Income | $1.18B 5.8% | $1.84B 9.3% | $1.56B 7.8% | $1.26B 7.2% | $1.19B 7.6% | $2.12B 16.2% | $1.28B 8.9% | $1.47B 10.2% | $1.42B 11.0% | $1.54B 12.5% |
| Interest Expense | $361.0M 1.8% | $337.0M 1.7% | $285.0M 1.4% | $219.0M 1.3% | $150.0M 1.0% | $164.0M 1.3% | $164.0M 1.1% | $141.0M 1.0% | $140.0M 1.1% | $155.0M 1.3% |
| Other Income (Expense), net | $50.0M 0.2% | $41.0M 0.2% | $63.0M 0.3% | -$54.0M -0.3% | -$129.0M -0.8% | $0 0.0% | $14.0M 0.1% | $2.0M 0.0% | -$21.0M -0.2% | -$384.0M -3.1% |
| Pretax Income | $919.0M 4.5% | $2.15B 10.9% | $1.34B 6.7% | $990.0M 5.7% | $910.0M 5.8% | $1.95B 15.0% | $1.13B 7.8% | $1.33B 9.2% | $1.25B 9.7% | $1.00B 8.1% |
| Income Tax Expense | $700.0M 3.4% | $223.0M 1.1% | -$1.93B -9.6% | $121.0M 0.7% | $101.0M 0.6% | $49.0M 0.4% | $132.0M 0.9% | $250.0M 1.7% | $223.0M 1.7% | $167.0M 1.4% |
| Net Income | $165.0M 0.8% | $1.79B 9.1% | $2.94B 14.7% | $594.0M 3.4% | $590.0M 3.8% | $1.80B 13.8% | $990.0M 6.9% | $1.07B 7.4% | $1.35B 10.5% | $1.26B 10.2% |
| Per Share | ||||||||||
| EPS (Basic) | $0.75 | $6.97 | $10.50 | $1.96 | $1.95 | $6.72 | $3.85 | $4.04 | $5.07 | $4.60 |
| EPS (Diluted) | $0.75 | $6.96 | $10.39 | $1.96 | $1.94 | $6.66 | $3.85 | $4.02 | $5.06 | $4.59 |
| Weighted Avg Shares (Basic) | 220.0M | 256.4M | 276.9M | 270.9M | 270.5M | 263.4M | 256.8M | 264.4M | 267.2M | 273.0M |
| Weighted Avg Shares (Diluted) | 220.8M | 256.7M | 282.9M | 271.2M | 271.2M | 270.7M | 257.4M | 265.2M | 268.0M | 273.7M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-14
Where each multiple sits in its own 14-yr range · 25th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 2% against ROIC 1% — 1% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 81.1 | 81.6 | 85.2 | 84.4 | 84.9 | 82.8 | 81.2 | 80.9 |
| Gross Profit | 18.9 | 18.4 | 14.8 | — | — | — | — | — |
| R&D | 8.0 | 8.1 | 7.8 | 6.6 | 6.4 | 6.4 | 5.6 | 5.5 |
| SG&A | 6.9 | 7.5 | 7.5 | 6.9 | 6.5 | 7.2 | 7.4 | 8.2 |
| Operating Income | 10.2 | 8.9 | 16.2 | 7.6 | 7.2 | 7.8 | 9.3 | 5.8 |
| Income Tax | 1.7 | 0.9 | 0.4 | 0.6 | 0.7 | -9.6 | 1.1 | 3.4 |
| Net Income | 7.4 | 6.9 | 13.8 | 3.8 | 3.4 | 14.7 | 9.1 | 0.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on APTV: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns -1.62pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 15.0% | 9.1% (today's — no rate published for this year) | 5.9pts |
| FY2020 | 21.5% | 9.1% (today's — no rate published for this year) | 12.4pts |
| FY2021 | 11.9% | 6.6% | 5.3pts |
| FY2022 | 8.7% | 8.7% | -0.0pts |
| FY2023 | 9.1% | 8.4% | 0.7pts |
| FY2024 | 11.2% | 8.4% | 2.8pts |
| FY2025 | 7.5% | 8.4% | -1.0pts |
| Now | 1.0% | 9.1% | -8.1pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 22.4% | 12.5% | 10.2% |
| FY2017 | 20.3% | 11.0% | 10.5% |
| FY2018 | 18.9% | 10.2% | 7.4% |
| FY2019 | 18.4% | 8.9% | 6.9% |
| FY2020 | 14.8% | 16.2% | 13.8% |
| FY2021 | 15.6% | 7.6% | 3.8% |
| FY2022 | 15.1% | 7.2% | 3.4% |
| FY2023 | 17.2% | 7.8% | 14.7% |
| FY2024 | 18.8% | 9.3% | 9.1% |
| FY2025 | 19.1% | 5.8% | 0.8% |
Return on equity (2%) and return on invested capital (1%) are within a couple of points in FY2025, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
$3.9B of goodwill — 25% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
ROIC ex-goodwill is 9.89% against 7.44% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
Converts 2.45x of reported profit into cash — adequate, without much margin.
No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.
Covers interest 2.3x under stress — adequate, without much room.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 3.28x |
| 5% | 3.12x |
| 10% | 2.95x |
| 15% | 2.79x |
| 20% | 2.62x |
| 25% | 2.46x |
| 30% | 2.30x |
| 35% | 2.13x |
| 40% | 1.97x |
| 45% | 1.80x |
| 50% | 1.64x |
| 55% | 1.48x |
| 60% | 1.31x |
Ladder as of 2025-12-31 (10-K); cash from the 2025-12-31 balance sheet; FCF from FY2025.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Net debt is 3.2x EBITDA, so coverage today depends on earnings holding up rather than on the balance sheet.
At $44.26, free cash flow must compound -1.95%/yr for 10 years. It has done 10.43%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | −1.7% | −1.9% |
| FY2021 | −26.3% | −1.9% |
| FY2022 | −31.4% | −1.9% |
| FY2023 | 136.3% | −1.9% |
| FY2024 | 63.2% | −1.9% |
| FY2025 | −5.4% | −1.9% |
The implied rate has been matched or beaten in 3 of the last 6 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $165M | $165M |
| Share-based comp | $139M | $304M |
| Other non-cash & working capital | $1.88B | $2.19B |
| Operating cash flow | $2.19B | $2.19B |
| Capex | −$656M | $1.53B |
| Free cash flow | $1.53B | $1.53B |
| FCF after SBC | $1.39B | $1.39B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | -9.0% | 9.5% | 18.5 points |
| FY2021 | 19.5% | -1.0% | -20.5 points |
| FY2022 | 12.0% | 23.3% | 11.3 points |
| FY2023 | 14.7% | 3.3% | -11.4 points |
| FY2024 | -1.7% | -8.0% | -6.3 points |
| FY2025 | 3.5% | -41.4% | -44.9 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 65.3 days | 40.1 days | 76.8 days | 28.6 days |
| FY2020 | 78.6 days | 42.5 days | 84.3 days | 36.8 days |
| FY2021 | 65.1 days | 55.8 days | 81.8 days | 39.1 days |
| FY2022 | 71.6 days | 57.5 days | 77.4 days | 51.7 days |
| FY2023 | 64.5 days | 52 days | 69.2 days | 47.3 days |
| FY2024 | 60.4 days | 52.9 days | 65.5 days | 47.8 days |
| FY2025 | 34.2 days | 39.6 days | 35.9 days | 37.8 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -4.7 percent |
| FY2020 | 2.2 percent |
| FY2021 | -3.5 percent |
| FY2022 | -3.1 percent |
| FY2023 | 4.3 percent |
| FY2024 | -2.8 percent |
| FY2025 | -8.6 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.