Direct Answer
19 SEC filers are classified under the Standard Industrial Classification code that describes the automobile components industry, and their latest annual reports show $88.4 billion of combined revenue and a median operating margin of 3.5%. Investors should still evaluate its revenue model, industry-specific KPIs, valuation framework and the risks that can change the group's economics.
Industry Overview
Automobile component makers supply parts and systems to vehicle manufacturers, from seats and brakes to electronics. Volume follows vehicle production, while content per vehicle and customer mix decide growth. The first numbers to compare across companies here are vehicle production exposure, content per vehicle and backlog of awarded programs.
Key Industry Metrics
- Vehicle production exposure: Share of sales linked to new vehicle builds by region and customer. A high share makes revenue follow automaker production, which is cyclical and affected by inventory decisions.
- Content per vehicle: Dollar value of parts supplied per vehicle. It rises with safety, electrification and electronic features, so it can outgrow vehicle production and measures how much each car is worth to the supplier.
- Backlog of awarded programs: Value of programs already won but not yet in production. A higher backlog gives multi-year visibility, though actual revenue depends on automaker volumes and launch timing.
- Gross and operating margin: Share of sales left after production costs and then after overhead and development. Suppliers face annual price-downs, so stable margins suggest cost control and mix improvement.
- Customer concentration: Share of revenue from a few automakers. High concentration raises dependence on specific platforms and gives customers strong negotiating power.
Primary Macro Drivers
- Global vehicle production: Parts volume follows how many vehicles automakers build, so production forecasts set sales and capacity use.
- Electrification and safety content: More electronics, sensors and EV parts raise content per vehicle and revenue per car built; the backlog of awarded programs shows the pipeline.
- Raw material costs: Steel, aluminum and resins are major inputs, and cost changes affect margin if customer contracts adjust slowly.
- Automaker pricing pressure: Automakers demand annual price cuts from suppliers, which cap revenue per part and force cost reduction; watch gross and operating margin.
Major Risks
- Cyclical production: Cuts in vehicle builds reduce supplier volume fast while fixed costs stay; watch exposure and production schedules.
- Price pressure from automakers: Automaker bargaining power compresses margin on each program; watch margin trends and contract renewal commentary.
- Raw material costs: If metal and resin prices rise before recoveries from customers, margins shrink; look for recovery lag in gross margin.
- Customer concentration: A few automakers represent most sales, so a platform loss or shutdown hurts results; filings disclose the biggest customers.
Industry Characteristics
| Characteristic | Profile |
|---|---|
| Cyclicality | Cyclical |
| Capital Intensity | High |
| Regulatory Intensity | Medium |
| Industry Maturity | Mature |
| Geographic Importance | Global |
Automobile Components Filers in the SEC Record
19 companies with annual reports in the dataset are classified by the SEC in the Standard Industrial Classification code 3714. Their latest fiscal years end between 2025 and 2026, and together they reported $88.4 billion of revenue. Median revenue growth over the prior year was 1.9%. Median operating margin was 3.5% and median net margin 1.1%. Median total liabilities were 61% of total assets, and 12 of 19 reported a profit in their latest year.
| Company | Revenue | Growth | Operating margin | Net margin | Year |
|---|---|---|---|---|---|
| Lear Corp | $23.3 billion | -0.2% | 3.3% | 1.9% | FY 2025 |
| Aptiv Plc | $20.4 billion | 3.5% | 5.8% | 0.8% | FY 2025 |
| Borgwarner Inc | $14.3 billion | 1.6% | 3.7% | 1.9% | FY 2025 |
| Dana Inc | $7.5 billion | -3.0% | 1.9% | 1.1% | FY 2025 |
| Lci Industries | $4.1 billion | 10.2% | 6.8% | 4.6% | FY 2025 |
| Visteon Corp | $3.8 billion | -2.5% | n/a | 0.0% | FY 2025 |
| Modine Manufacturing Co | $3.2 billion | 23.1% | 10.8% | 3.8% | FY 2026 |
| Allison Transmission Holdings Inc | $3.0 billion | -6.7% | 29.2% | 20.7% | FY 2025 |
The 8 largest of 19 by revenue. Source: each company's own annual report as filed with the SEC (XBRL data), figures in U.S. dollars. A company's SIC code reflects its main business as the SEC records it, so it can differ from how an index provider or analyst classifies the company, and a diversified group appears under only one code.
Where to Go Next
The Automobile Components guide describes how the industry earns money, what to measure and what can go wrong. To see how it compares, read the neighbouring industries in the same sector, then apply the same checks to a specific company.
More in Consumer Discretionary
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Frequently Asked Questions
What are the main KPIs for the Automobile Components industry?
Key performance indicators for the Automobile Components industry include: Vehicle production exposure, Content per vehicle, Backlog of awarded programs, Gross and operating margin, Customer concentration. Which matter most depends on the company's model, so compare them across several companies rather than relying on one.
How cyclical is the Automobile Components industry?
The Automobile Components industry is cyclical, meaning its revenues and earnings tend to expand during economic expansions and contract during downturns. Investors should monitor leading economic indicators and interest rate trends when evaluating timing.
What are the biggest risks in the Automobile Components industry?
The primary risks for Automobile Components companies include: Cyclical production, Price pressure from automakers, Raw material costs, Customer concentration. Investors should assess each company's exposure to these factors and its track record of navigating them.