olivLaw · US equity research
Aptiv PLC APTV
Motor Vehicle Parts & Accessories · SIC 3714 · Vertical: Motor Vehicle Parts & Accessories (SIC 3714)
Aptiv PLC is a global industrial technology company supplying software, sensors and connection systems, mainly to the automotive industry but also to aerospace, defense and telecom. In 2026 it completed the spin-off of its electrical distribution business, now Versigent, leaving a remaining business that focuses increasingly on non-automotive markets.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Aptiv PLC (APTV) stock was 43.26 USD (+4.64% on the day), with market capitalisation 8.8 bn USD, P/E 11.9 on diluted EPS of 3.63 USD over the last 12 months, dividend yield 0.00%, beta 1.21, 52-week range 41.34–88.67 USD. Latest reported quarter (Q3 2026): revenue of 3.2 bn USD (+2.3% YoY), net income of 194.0 m USD, diluted EPS 0.94 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 46.3
- neutral
- Bollinger (20, 2)
- 42.27 – 45.59
- in the lower half of the band · %B 0.30 · band width 7.6%
- SMA 50 / 200
- 44.36 / 59.16
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.44 / -0.38
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −1.4% | −1.1% | −0.3 pp | — |
| 3 months | −8.0% | −0.5% | −7.5 pp | — |
| 6 months | −23.8% | +4.4% | −28.2 pp | — |
| Year to date | −43.1% | +12.3% | −55.5 pp | — |
| 1 year | −46.5% | +13.5% | −60.0 pp | −10.2% |
| 3 years | −44.2% | +76.4% | −120.6 pp | +9.8% |
| 5 years | −75.3% | +63.7% | −139.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.9 bn | 4.8 bn | 3.2 bn | 3.1 bn | 5.2 bn | 5.1 bn | 3.3 bn | 3.2 bn |
| Cost of revenue | 3.9 bn | 3.9 bn | 2.5 bn | 2.4 bn | 4.2 bn | 4.2 bn | 2.5 bn | 2.5 bn |
| Gross profit | 962.0 m | — | — | — | 963.0 m | — | — | — |
| SG&A | 363.0 m | 384.0 m | 327.0 m | 333.0 m | 704.0 m | 427.0 m | 332.0 m | 294.0 m |
| Operating income | 479.0 m | 448.0 m | 325.0 m | -353.0 m | 425.0 m | 378.0 m | 367.0 m | 281.0 m |
| Depreciation & amortisation | 245.0 m | 242.0 m | 190.0 m | 193.0 m | 419.0 m | 250.0 m | 195.0 m | 247.0 m |
| Interest expense | 107.0 m | 93.0 m | 92.0 m | 88.0 m | 88.0 m | 89.0 m | 62.0 m | 59.0 m |
| Pre-tax income | 347.0 m | 355.0 m | 294.0 m | -420.0 m | 845.0 m | 285.0 m | 366.0 m | 246.0 m |
| Income tax | 64.0 m | 356.0 m | 16.0 m | 59.0 m | 299.0 m | 81.0 m | 52.0 m | 36.0 m |
| Net income | 268.0 m | -11.0 m | 393.0 m | -355.0 m | 138.0 m | 189.0 m | 248.0 m | 194.0 m |
| Diluted EPS | 1.14 | -0.05 | 1.80 | -1.63 | 0.64 | 0.88 | 1.17 | 0.94 |
| Operating cash flow | 1.1 bn | 273.0 m | 510.0 m ≈ | 584.0 m ≈ | 818.0 m | -143.0 m | 92.0 m ≈ | 320.0 m ≈ |
| Capex | 166.0 m | 197.0 m | 70.0 m ≈ | 99.0 m ≈ | 290.0 m | 219.0 m | 59.0 m ≈ | 126.0 m ≈ |
| Share repurchases | 0 | 0 | 0 ≈ | 96.0 m ≈ | 301.0 m | 76.0 m | 246.0 m ≈ | 236.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 23 percentile of its own 40-quarter history (min 5.3, median 19.4, max 212.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14.4 bn | 14.4 bn | 13.1 bn | 15.6 bn | 17.5 bn | 20.1 bn | 19.7 bn | 20.4 bn |
| Revenue YoY | +12.0% | −0.5% | −9.0% | +19.5% | +12.0% | +14.6% | −1.7% | +3.5% |
| Net income | 1.1 bn | 990.0 m | 1.8 bn | 590.0 m | 594.0 m | 2.9 bn | 1.8 bn | 165.0 m |
| Net income YoY | −21.3% | −7.2% | +82.2% | −67.3% | +0.7% | +394.6% | −39.2% | −90.8% |
| Diluted EPS | 4.02 | 3.85 | 6.66 | 1.94 | 1.96 | 10.39 | 6.96 | 0.75 |
| Diluted EPS YoY | −20.6% | −4.2% | +73.0% | −70.9% | +1.0% | +430.1% | −33.0% | −89.2% |
| net % | 7.4% | 6.9% | 13.8% | 3.8% | 3.4% | 14.7% | 9.1% | 0.8% |
| Free cash flow | 782.0 m | 843.0 m | 829.0 m | 611.0 m | 419.0 m | 990.0 m | 1.6 bn | 1.5 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.6 bn USD
- Financial debt
- 7.5 bn USD
- Net debt
- 5.9 bn USD
- Equity
- 9.4 bn USD
- Total assets
- 23.4 bn USD
- Debt / equity
- 0.80x
- Current ratio
- 1.74x
- ROE
- 1.8%
- ROA
- 0.7%
- FCF margin
- 7.5%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 13.1 bn | 15.6 bn | 17.5 bn | 20.1 bn | 19.7 bn | 20.4 bn | SEC (XBRL)· 06 Feb 2026verified |
| Cost of revenue | 11.1 bn | 13.2 bn | 14.9 bn | 16.6 bn | 16.0 bn | 16.5 bn | SEC (XBRL)· 06 Feb 2026verified |
| Gross profit | 1.9 bn | 2.4 bn ≈ | 2.6 bn ≈ | 3.4 bn ≈ | 3.7 bn ≈ | 3.9 bn ≈ | SEC (XBRL)· 06 Feb 2026derived |
| Research & development | 1.0 bn | 1.0 bn | 1.1 bn | 1.3 bn | 1.1 bn | 1.1 bn | SEC (XBRL)· 06 Feb 2026verified |
| SG&A | 976.0 m | 1.1 bn | 1.1 bn | 1.4 bn | 1.5 bn | 1.7 bn | SEC (XBRL)· 06 Feb 2026verified |
| Operating income | 2.1 bn | 1.2 bn | 1.3 bn | 1.6 bn | 1.8 bn | 1.2 bn | SEC (XBRL)· 06 Feb 2026verified |
| Depreciation & amortisation | 764.0 m | 773.0 m | 762.0 m | 912.0 m | 964.0 m | 991.0 m | SEC (XBRL)· 06 Feb 2026verified |
| EBITDA | 2.9 bn ≈ | 2.0 bn ≈ | 2.0 bn ≈ | 2.5 bn ≈ | 2.8 bn ≈ | 2.2 bn ≈ | SEC (XBRL)· 06 Feb 2026derived |
| Interest expense | 164.0 m | 150.0 m | 219.0 m | 285.0 m | 337.0 m | 361.0 m | SEC (XBRL)· 06 Feb 2026verified |
| Pre-tax income | 2.0 bn | 910.0 m | 990.0 m | 1.3 bn | 2.2 bn | 919.0 m | SEC (XBRL)· 06 Feb 2026verified |
| Income tax | 49.0 m | 101.0 m | 121.0 m | -1.9 bn | 223.0 m | 700.0 m | SEC (XBRL)· 06 Feb 2026verified |
| Net income | 1.8 bn | 590.0 m | 594.0 m | 2.9 bn | 1.8 bn | 165.0 m | SEC (XBRL)· 06 Feb 2026verified |
| Diluted EPS | 6.66 | 1.94 | 1.96 | 10.39 | 6.96 | 0.75 | SEC (XBRL)· 06 Feb 2026verified |
| Weighted average diluted shares | 270.7 m | 271.2 m | 271.2 m | 282.9 m | 256.7 m | 220.8 m | SEC (XBRL)· 06 Feb 2026verified |
| Dividend per share | 0.22 | 0.00 | — | — | — | — | SEC (XBRL)· 07 Feb 2022verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 2.8 bn | 3.1 bn | 1.5 bn | 1.6 bn | 1.6 bn | 1.6 bn | SEC (XBRL)· 04 Aug 2026verified |
| Receivables | 2.8 bn | 2.8 bn | 3.4 bn | 3.5 bn | 3.3 bn | 1.9 bn | SEC (XBRL)· 04 Aug 2026verified |
| Inventories | 1.3 bn | 2.0 bn | 2.3 bn | 2.4 bn | 2.3 bn | 1.8 bn | SEC (XBRL)· 04 Aug 2026verified |
| Current assets | 7.5 bn | 8.4 bn | 7.8 bn | 8.2 bn | 7.8 bn | 8.7 bn | SEC (XBRL)· 06 Feb 2026verified |
| Property, plant & equipment, net | 3.3 bn | 3.3 bn | 3.5 bn | 3.8 bn | 3.7 bn | 2.9 bn | SEC (XBRL)· 04 Aug 2026verified |
| Goodwill | 2.6 bn | 2.5 bn | 5.1 bn | 5.2 bn | 5.0 bn | 4.0 bn | SEC (XBRL)· 04 Aug 2026verified |
| Intangibles (excl. goodwill) | 1.1 bn | 964.0 m | 2.6 bn | 2.4 bn | 2.1 bn | 2.0 bn | SEC (XBRL)· 04 Aug 2026verified |
| Total assets | 17.5 bn | 18.0 bn | 21.9 bn | 24.4 bn | 23.5 bn | 23.4 bn | SEC (XBRL)· 06 Feb 2026verified |
| Accounts payable | 2.6 bn | 3.0 bn | 3.2 bn | 3.2 bn | 2.9 bn | 1.6 bn | SEC (XBRL)· 04 Aug 2026verified |
| Short-term debt | 90.0 m | 8.0 m | 31.0 m | 9.0 m | 509.0 m | 23.0 m | SEC (XBRL)· 04 Aug 2026verified |
| Long-term debt | 4.0 bn | 4.1 bn | 6.5 bn | 6.2 bn | 7.8 bn | 7.5 bn | SEC (XBRL)· 04 Aug 2026verified |
| Current liabilities | 4.0 bn | 4.2 bn | 4.9 bn | 4.8 bn | 5.1 bn | 5.0 bn | SEC (XBRL)· 06 Feb 2026verified |
| Total liabilities | 9.4 bn | 9.4 bn | 12.8 bn | 12.6 bn | 14.4 bn | 13.9 bn | SEC (XBRL)· 06 Feb 2026verified |
| Equity | 8.1 bn | 8.6 bn | 9.0 bn | 11.7 bn | 9.0 bn | 9.4 bn | SEC (XBRL)· 06 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.4 bn | 1.2 bn | 1.3 bn | 1.9 bn | 2.4 bn | 2.2 bn | SEC (XBRL)· 06 Feb 2026verified |
| Capex | 584.0 m | 611.0 m | 844.0 m | 906.0 m | 830.0 m | 656.0 m | SEC (XBRL)· 06 Feb 2026verified |
| Free cash flow | 829.0 m ≈ | 611.0 m ≈ | 419.0 m ≈ | 990.0 m ≈ | 1.6 bn ≈ | 1.5 bn ≈ | SEC (XBRL)· 06 Feb 2026derived |
| Investing cash flow | -626.0 m | -729.0 m | -5.2 bn | -1.0 bn | -507.0 m | -498.0 m | SEC (XBRL)· 06 Feb 2026verified |
| Financing cash flow | 1.6 bn | -191.0 m | 2.4 bn | -807.0 m | -2.0 bn | -1.4 bn | SEC (XBRL)· 06 Feb 2026verified |
| Dividends paid | 32.0 m | 63.0 m | 0 | — | — | — | SEC (XBRL)· 08 Feb 2023verified |
| Share repurchases | 57.0 m | 0 | 0 | 398.0 m | 4.1 bn | 397.0 m | SEC (XBRL)· 06 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 53 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 8.8 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation72
- Balance sheet48
- Quality43
- Growth22
- Returns100
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 28.91 – 114.43 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)28.91 – 71.18 (Mid 43.65)WACC 7.4% · starting FCFF 610.9 m USD · terminal value share of EV 79%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 5.0%
- Peers: EV/EBITDA64.79 – 114.43 (Mid 72.14)14 companies used · median multiple 7.5x · quartiles 6.9x – 10.9xALV, ATMU, BWA, CPS, DCH, DORM, GNTX, LCII, LEA, MOD, PATK, PHIN, SMP, THRM
- Peers: P/E41.95 – 74.94 (Mid 54.77)19 companies used · median multiple 15.1x · quartiles 11.6x – 20.6xADNT, ALSN, ALV, ATMU, BWA, CAAS, DAN, DORM, GNTX, GTX, HLLY, LCII, LEA, MGA, PATK, PHIN, SMP, STRT, VC
- Dividend discount (DDM)unavailable · the base of the ratio is not positive
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 53/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 7.3% | 33 (vs peers) | 11% |
| Net margin · Quality | 4.6% | 71 (vs peers) | 7% |
| FCF conversion · Quality | 51.1% | 30 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | 5.3% | 44 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | -27.4% | 0 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 1.8x | 27 (vs peers) | 11% |
| Interest coverage · Balance sheet | 4.9x | 52 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 2.0x | 98 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 11.9x | 76 (vs peers) | 11% |
| EV/EBITDA · Valuation | 5.2x | 80 (vs peers) | 11% |
| FCF yield · Valuation | 4.5% | 56 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 9.8% | 100 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet48/100 · 3/3 factors with a value
- Growth22/100 · 2/2 factors with a value
- Quality43/100 · 3/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation72/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
APTIV PLC (APTV). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 20.4 bn USD in 2025; YoY growth 3.5%; net margin 4.6%; ROE 8.5%; net debt/EBITDA 1.8x.
The estimated value range is 41.95–74.94 USD per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 54.77 USD, the price of 43.26 USD leaves a potential of 26.6% (value / price − 1) and a margin of safety of 21.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 53/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 4.6%
- Current ratio: 2.0x
- P/E (TTM): 11.9x
- EV/EBITDA: 5.2x
- Shareholder yield (distributions): 9.8%
What contradicts it
- EPS CAGR 3Y: -27.4%
- Net debt / EBITDA: 1.8x
Not assessed (insufficient data or a ratio without meaning): Payout ratio (FCF).
Versus the vertical median
Motor Vehicle Parts & Accessories (SIC 3714) · same industry (4-digit SIC) · compared with 34 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| MGAMagna International Inc. | 18.4 bn | 22.4 | 6.9% | 2.0% | −1.9% | +34% / +22% |
| BWABorgwarner Inc. | 10.1 bn | 21.5 | 8.2% | 3.4% | +1.6% | +17% / +50% |
| ALSNAllison Transmission Holdings, Inc. | 9.9 bn | 17.4 | 29.7% | 11.1% | −6.7% | +36% / +125% |
| ALVAutoliv, Inc. | 9.0 bn | 15.1 | 24.8% | 5.6% | +4.1% | +7% / +21% |
| APTVAptiv PLC | 8.8 bn | 11.9 | 8.5% | 4.6% | +3.5% | −46% / −44% |
| LEALear Corp | 5.7 bn | 10.4 | 11.6% | 2.5% | −0.2% | +11% / −11% |
| MODModine Manufacturing Co | 5.2 bn | 41.3 | 11.4% | 3.6% | +23.1% | −39% / +100% |
| GNTXGentex Corporation | 4.4 bn | 11.0 | 16.4% | 15.5% | +9.6% | −9% / −32% |
| DORMDorman Products, Inc. | 4.2 bn | 21.2 | 13.3% | 9.3% | +6.0% | +8% / +98% |
| ATMUAtmus Filtration Technologies Inc. | 3.9 bn | 18.3 | 55.8% | 11.3% | +5.7% | −5% / +119% |
| GTXGarrett Motion Inc. | 3.6 bn | 10.1 | — | 10.0% | +3.1% | +20% / +167% |
| PATKPatrick Industries Inc | 2.7 bn | 20.1 | 13.0% | 3.7% | +6.3% | −22% / +55% |
| PHINPhinia Inc. | 2.6 bn | 14.5 | 12.2% | 5.2% | +2.4% | +33% / +181% |
| DANDana Incorporated | 2.6 bn | 2.4 | 71.4% | 14.6% | −3.0% | +6% / +80% |
| LCIILci Industries | 2.5 bn | 12.1 | 15.0% | 5.2% | +10.2% | −8% / −4% |
| VCVisteon Corp | 2.0 bn | 13.8 | 10.8% | 4.1% | −2.5% | −22% / −32% |
| THRMGentherm Incorporated | 1.6 bn | 105.3 | 1.3% | 0.6% | +2.9% | −13% / −32% |
| ADNTAdient plc | 1.3 bn | 28.5 | 2.7% | 0.3% | −1.0% | −12% / −47% |
| DCHDauch Corporation | 1.1 bn | — | -15.2% | -2.0% | −4.7% | −27% / −31% |
| SMPStandard Motor Products, Inc. | 1.0 bn | 15.1 | 9.9% | 3.8% | +22.4% | +22% / +28% |
| AEVAAeva Technologies, Inc. | 661.5 m | — | — | -150.1% | +99.4% | −15% / +240% |
| CPSCooper-Standard Holdings Inc. | 391.6 m | — | — | -2.0% | +0.4% | −29% / +24% |
| HLLYHolley Inc. | 351.6 m | 35.3 | 2.3% | 1.7% | +1.9% | −32% / −30% |
| KNDIKandi Technologies Group, Inc. | 287.8 m | — | -30.5% | -107.4% | −31.5% | −63% / −88% |
| STRTStrattec Security Corp | 258.5 m | 15.6 | 7.2% | 2.9% | +2.5% | −14% / +201% |
1- and 3-year price returns: for APTV from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 26.96 Total return -38% · Per year -38% | 47.65 Total return 10% · Per year 10% | 71.76 Total return 66% · Per year 66% |
| 3 years | 26.57 Total return -39% · Per year -15% | 52.80 Total return 22% · Per year 7% | 87.24 Total return 102% · Per year 26% |
| 5 years | 26.19 Total return -39% · Per year -10% | 58.51 Total return 35% · Per year 6% | 106.07 Total return 145% · Per year 20% |
- Exit P/E± 13.20
- Net margin± 9.24
- Annual revenue growth± 7.53
- Annual dilution± 0.78
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).
In brief
Aptiv PLC is a global industrial technology company supplying software, sensors and connection systems, mainly to the automotive industry but also to aerospace, defense and telecom. In 2026 it completed the spin-off of its electrical distribution business, now Versigent, leaving a remaining business that focuses increasingly on non-automotive markets 123.
SWOT
Strengths
- The company has a broad customer base in the auto industry and a strong global presence in manufacturing and engineering 1.
- A flexible cost structure and a workforce largely based in lower cost countries let it stay profitable in periods of weaker production 12.
- A solid balance sheet supports share repurchases and debt reduction after the separation 23.
Weaknesses
- Revenue still depends on auto production, which is cyclical and sensitive to demand and macroeconomic factors 1.
- Operating cash flow was weak in the first half of 2026, showing sensitivity to working capital 3.
- Concentration on a few large customers means the loss of one major program could have a significant effect 1.
Opportunities
- Growth in non-automotive markets such as robotics, drones and aerospace could reduce dependence on the auto cycle 13.
- The move to software-defined vehicles may increase software and services content per vehicle 1.
- Partnerships with technology companies could speed up commercialization of the portfolio 1.
Risks
- Dependence on auto productionhigh
A fall in global auto sales could reduce customer programs and the company's revenue 1.
- Supply chain disruptionshigh
The lack of a single component could force a production stop and high recovery costs 1.
- Tariffs and trademedium
Changes in trade policy could affect costs and the location of production 2.
- Competition in Chinamedium
Local competitive pressure could reduce share and margins in the largest regional market 1.
- Separation costslow
Separation-related expenses may continue, and the remaining business may face operational challenges during integration 1.
Investment thesis
What would need to be true (bull case)
- If non-automotive segments keep growing at double digits, the company could reduce its dependence on the auto cycle and improve margins 3.
- A commitment to returning capital to shareholders, with repurchases already under way, could support per-share value in coming years 3.
- Its position in vehicle software and compute could become more valuable as vehicles become more software-defined 1.
What would break the thesis
- If global auto production stays weak, revenue and cash flow could remain under pressure 12.
- If competition in China and tariffs keep increasing, margins could come under pressure 12.
- Negative free cash flow in the first half could limit the company's ability to continue repurchases without reducing debt 3.
What to watch
- Third quarter 2026 results and full year 2026 guidanceQ3 2026
- Development of revenue from non-automotive segments2026
- Effects of tariffs and changes to the USMCA agreement2026
- Next annual report with cost and capital allocation targetsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).
The business
Aptiv presents itself as a global industrial technology company oriented toward automation, electrification and digitalization. It supplies both hardware and software, from sensor to cloud, and serves 25 of the largest automotive manufacturers in the world 1. The company operates 139 major manufacturing facilities and has about 20700 scientists, engineers and technicians 1. From 2026 its reported segments are Intelligent Systems and Engineered Components, after the electrical distribution business was presented as discontinued operations 23.
In 2025 the company reached record revenue, with strong growth also from non-automotive industrial markets, and its adjusted operating income margin was 12.1% 1. Results of the divested business are reported separately, so comparisons after the spin-off need care 2.
The strategy rests on a portfolio tied to the shift toward software-defined vehicles, on expansion into robotics and drones, and on a flexible cost structure, with almost all hourly workforce in best cost countries 13.
Segments
Market context
Global vehicle production rose 4% in 2025, but weighted to the regions where Aptiv earns revenue the increase was only 1% 1. In the first half of 2026 volumes grew slightly by 1% while global production fell 1% 2.
Diversification into aerospace and defense, telecom and industrial markets is the main reason the company hopes to reduce its dependence on automotive cycles, though demand size in these markets is not quantified in the sources analyzed 13.
Trends
- Automation, electrification and digitalizationtailwind
These trends define demand for sensors, compute and software, and their extension beyond cars opens new markets for the company 1.
- Volatility of auto productionheadwind
Cyclical auto sales and production can reduce customer volumes, and shifts in vehicle mix affect revenue 12.
- Tariffs and international tradeheadwind
Changes in trade agreements and tariffs can reduce production in some regions or move production toward higher cost areas 2.
- Shift toward software and roboticsmixed
The move to software-defined vehicles and the commercialization of robotics and drone solutions could support growth in non-automotive revenue, but the timing remains uncertain 13.
Competitive position
The automotive component market is highly competitive, with competition based on price, technology, quality and delivery 1. In China local competition has grown, and some traditional foreign manufacturers have reduced operations, which could affect margins 1.
New entrants from outside traditional automotive supply, especially in autonomous driving and software, are also appearing, which could reduce the company's share if it does not keep innovating 1.
- Global automotive component suppliers
Companies competing on price, technology and delivery capacity, referred to generically in the company's risk factors 1.
- Domestic automakers in China
They have expanded their share in China, reducing revenue for some traditional customers of the company 1.
- New entrants from outside the auto industry
Software and technology firms moving into autonomous driving and vehicle architecture, according to the source 1.
- VersigentVGNT
The former electrical distribution business, separated in April 2026, now an independent company listed on the NYSE 23.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- BlackBerry Jumps 7% as Coretura Selects QNX-Based Alloy Kore for Truck Platform; Aptiv Edges Higher, Mobileye Barely BudgesYahoo Finance — News · 22 Sept 2026 · EN
- Aptiv (APTV) Turns Chip Partnerships Into A Physical AI BetYahoo Finance — News · 16 Sept 2026 · EN
- Is Aptiv Underperforming the Nasdaq?Yahoo Finance — News · 16 Sept 2026 · EN
- Producătorul de componente auto Aptiv Technology Services & Solutions a trecut pe pierdere în 2025, la afaceri de aproximativ 1,3 mld. leiZiarul Financiar · 28 Aug 2026 · RO
- CJUE. C-521/24 | Aptiv Services Hungary. Deducerea TVA nu poate fi refuzată din cauza primirii tardive a facturilorJuridice.ro · 29 May 2026 · RO
The latest news item in our archive is from 22 Sept 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report03 Nov 2026
- Current report03 Nov 2026Results of operations · Other events · Financial statements and exhibits
- Quarterly report04 Aug 2026
- Current report04 Aug 2026Results of operations
- Quarterly report05 May 2026
- Current report05 May 2026Results of operations · Other events · Financial statements and exhibits
- Current report30 Apr 2026Shareholder vote
- Current report (amendment)06 Apr 2026Financial statements and exhibits
- Current report06 Apr 2026Other events · Financial statements and exhibits
- Current report01 Apr 2026Material agreement · Acquisition or disposition of assets · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Aptiv PLC · 06 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Aptiv PLC · 04 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Aptiv PLC · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.