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Lear

LEA NYSE Automotive Parts & Equipment Financials FY2016–FY2025

Lear's revenue fell 0.2% to $23.3 billion in fiscal 2025. Its operating margin was 3.3%, down from 3.8% a year earlier. Free cash flow was $527 million, down 6.1%. It paid out $490 million in dividends and buybacks, 93% of free cash flow. The diluted share count fell 5.1%.

Last close · Oct 23, 2026

$116.69

1.6%
Value it Compare
Revenue Total sales reported in the income statement.
$23.3B
0.2% vs prior year
Operating margin Operating income as a share of revenue.
3.3%
0.5 pts
Net income Profit after all expenses, interest and tax.
$437M
13.8%
Free cash flow Cash from operations minus capital spending.
$527M
6.1%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
8.9%
1.2 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$5.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
10.9x
On $10.74 EPS (TTM)

What Lear does

No business description yet.

Legal name
Lear Corp
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000842162-26-000011
0000842162

Revenue and margins

Lear had $23.3B of revenue in fiscal 2025, down 0.2% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew −5.3% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $527M in fiscal 2025, 2.3% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Lear returned $490M to shareholders in fiscal 2025, 93% of free cash flow. The diluted share count fell 5.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Lear yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.7B and divides by 53.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 10.9x · peers 30.2x · sector 17.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably Lear can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $1.3B$1.1B$1.2B$1.1B$1.0B
Debt incl. finance leases $2.6B$2.6B$2.8B$2.8B$2.7B
Net debt / EBITDA 1.0x1.2x1.0x1.1x1.2x
Debt / equity 0.6x0.6x0.6x0.6x0.5x
Interest coverage 7.4x6.6x9.2x8.4x7.7x
Current ratio 1.4x1.4x1.4x1.3x1.4x
Quick ratio 1.1x1.0x1.0x1.0x1.1x
Total assets $13.4B$13.8B$14.7B$14.0B$14.8B
Total liabilities $8.5B$8.9B$9.6B$9.4B$9.6B
Shareholders' equity $4.6B$4.7B$4.9B$4.5B$5.0B
Net debt (− = net cash) $1.3B$1.5B$1.6B$1.7B$1.7B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$13.1M

6 insiders

Of sales under plans

10%

$1.4M

DateInsiderTradeSharesPriceValueFiling
Aug 6, 2026 Conrad L Mallett JrDirector Sold 1,646 $121.35 $0.2M Form 4
Jun 24, 2026 Raymond E ScottPresident and CEO, Director Sold 50,000 $135.37 $6.8M Form 4
Jun 10, 2026 Conrad L Mallett JrDirector Sold 190 $141.34 $0.0M Form 4
Jun 2, 2026 Frank C OrsiniEVP and President, Seating Sold 5,000 $148.50 $0.7M Form 4
Jun 2, 2026 Jason M CardewSVP and CFO Sold plan 5,000 $147.50 $0.7M Form 4
Jun 1, 2026 Jason M CardewSVP and CFO Sold plan 4,500 $141.14 $0.6M Form 4
May 22, 2026 Nicholas Jon RoelliSVP and President, E-Systems Sold 2,336 $141.38 $0.3M Form 4
Mar 13, 2026 Conrad L Mallett JrDirector Sold 44 $116.12 $0.0M Form 4
Feb 26, 2026 Frank C OrsiniEVP and President, Seating Sold 7,133 $135.50 $1.0M Form 4
Feb 24, 2026 Marianne VIdershainVP, Treas & Head of Inv Relat Sold 1,590 $135.00 $0.2M Form 4
Feb 19, 2026 Frank C OrsiniEVP and President, Seating Sold 8,354 $136.14 $1.1M Form 4
Feb 19, 2026 Jason M CardewSVP and CFO Sold 10,000 $134.51 $1.3M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✓ ✓
Current ratio rose ✕ ✕ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ ✕ ✕
Revenue rose relative to assets ✓ ✕ ✓
F-score 7 / 95 / 97 / 9
Accruals ratio −4.8%−4.3%−4.5%
Altman Z'' 3.103.133.16

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Lear LEA $5.9B −0.2% 3.3% 2.3% 8.9% 10.9x 7
Aptiv APTV $9.1B 3.5% 5.8% 7.5% 3.7% 40.3x 8 Compare →
Adient ADNT $1.3B −1.0% — 1.4% 2.0% 30.2x 5 Compare →
BorgWarner BWA $11.3B 1.6% 3.7% 8.2% 4.6% 27.1x 7 Compare →
Magna International MGA $18.1B −1.9% — 5.4% 6.7% — 8 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $18.6B $20.5B $21.1B $19.8B $17.0B $19.3B $20.9B $23.5B $23.3B $23.3B
Gross profit $2.1B $2.3B $2.3B $1.7B $1.1B $1.4B $1.4B $1.7B $1.6B $1.5B
Research and development $144M $148M $154M $151M — — — — — —
Operating income $1.5B $1.6B $1.7B $1.1B $454M $675M $654M $933M $888M $777M
Interest expense $82.5M $85.7M $84.1M $92.0M $99.6M $91.8M $98.6M $101M $106M $101M
Pretax income $1.3B $1.5B $1.5B $954M $299M $584M $509M $777M $733M $625M
Income tax $370M $198M $312M $146M $93.9M $138M $134M $181M $191M $150M
Net income $975M $1.3B $1.1B $754M $159M $374M $328M $573M $507M $437M
Diluted EPS $13.33 $18.59 $17.22 $12.75 $2.62 $6.19 $5.47 $9.68 $8.97 $8.15
Diluted shares 0.07B 0.07B 0.07B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.05B
Cash flow
Cash from operations $1.6B $1.8B $1.8B $1.3B $663M $670M $1.0B $1.2B $1.1B $1.1B
Capital expenditure $528M $595M $677M $604M $452M $585M $638M $627M $559M $562M
Free cash flow $1.1B $1.2B $1.1B $680M $211M $85.0M $383M $623M $561M $527M
Depreciation and amortization $378M $428M $484M $510M $540M $574M $577M $604M $621M $604M
Stock-based compensation $68.2M $70.2M $41.4M $23.3M $40.0M $60.3M $52.0M $67.5M $64.4M $66.2M
Acquisitions $156M $292M $0.0M $322M $0.0M $0.0M $188M $175M $0.8M $0.0M
Share buybacks $659M $451M $705M $385M $70.0M $100M $100M $297M $417M $325M
Dividends paid $88.8M $138M $186M $186M $67.3M $107M $186M $182M $174M $165M
Dividends and buybacks $748M $588M $891M $571M $137M $207M $286M $478M $590M $490M
Balance sheet
Cash and short-term investments $1.3B $1.5B $1.5B $1.5B $1.3B $1.3B $1.1B $1.2B $1.1B $1.0B
Total debt $2.0B $2.0B $2.0B $2.3B $2.3B $2.6B $2.6B $2.8B $2.8B $2.7B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $1.4M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $5.6B $6.6B $6.3B $6.4B $6.8B $6.8B $7.0B $7.6B $7.2B $7.7B
Current liabilities $4.2B $4.9B $4.5B $4.7B $5.1B $4.8B $5.2B $5.7B $5.4B $5.7B
Inventory $1.0B $1.2B $1.2B $1.3B $1.4B $1.6B $1.6B $1.8B $1.6B $1.7B
Property and equipment, net $2.0B $2.5B $2.6B $2.7B $2.7B $2.7B $2.9B $3.0B $2.8B $2.9B
Total assets $9.9B $11.9B $11.6B $12.7B $13.2B $13.4B $13.8B $14.7B $14.0B $14.8B
Total liabilities $6.7B $7.7B $7.2B $8.2B $8.6B $8.5B $8.9B $9.6B $9.4B $9.6B
Shareholders' equity $3.1B $4.2B $4.2B $4.3B $4.5B $4.6B $4.7B $4.9B $4.5B $5.0B
Margins
Gross margin 11.4% 11.2% 11.0% 8.8% 6.5% 7.2% 6.8% 7.3% 7.0% 6.5%
Operating margin 7.9% 7.9% 7.8% 5.4% 2.7% 3.5% 3.1% 4.0% 3.8% 3.3%
EBITDA margin 9.9% 10.0% 10.1% 8.0% 5.8% 6.5% 5.9% 6.6% 6.5% 5.9%
Net margin 5.3% 6.4% 5.4% 3.8% 0.9% 1.9% 1.6% 2.4% 2.2% 1.9%
FCF margin 5.9% 5.8% 5.2% 3.4% 1.2% 0.4% 1.8% 2.7% 2.4% 2.3%
Returns
Return on capital 27.6% 32.4% 27.5% 17.8% 5.7% 8.8% 7.8% 11.1% 10.1% 8.9%
Return on capital employed 25.9% 25.1% 23.3% 14.2% 5.6% 8.1% 7.6% 10.6% 10.1% 8.8%
Return on equity 32.6% 36.4% 27.5% 17.6% 3.6% 8.2% 7.0% 11.9% 10.8% 9.2%
Return on assets 10.1% 12.0% 9.8% 6.2% 1.2% 2.8% 2.4% 4.0% 3.5% 3.0%
Growth
Revenue growth 1.9% 10.3% 3.3% −6.3% −14.0% 13.0% 8.5% 12.3% −0.7% −0.2%
Net income growth 30.8% 34.7% −12.5% −34.5% −79.0% 135.9% −12.4% 74.7% −11.5% −13.8%
EPS growth 39.0% 39.5% −7.4% −26.0% −79.5% 136.3% −11.6% 77.0% −7.3% −9.1%
FCF growth 38.9% 9.0% −7.2% −38.3% −69.0% −59.7% 350.8% 62.5% −9.9% −6.1%
Share count change −6.0% −5.3% −4.5% −6.4% −2.4% −0.0% −0.8% −1.3% −4.5% −5.1%
Financial health
Net debt / EBITDA 0.4x 0.2x 0.2x 0.5x 1.0x 1.0x 1.2x 1.0x 1.1x 1.2x
Debt / equity 0.6x 0.5x 0.5x 0.5x 0.5x 0.6x 0.6x 0.6x 0.6x 0.5x
Interest coverage 17.7x 18.8x 19.7x 11.6x 4.6x 7.4x 6.6x 9.2x 8.4x 7.7x
Current ratio 1.4x 1.4x 1.4x 1.4x 1.3x 1.4x 1.4x 1.4x 1.3x 1.4x
Quick ratio 1.1x 1.1x 1.1x 1.1x 1.1x 1.1x 1.0x 1.0x 1.0x 1.1x
Capital allocation
Capex / revenue 2.9% 2.9% 3.2% 3.1% 2.7% 3.0% 3.1% 2.7% 2.4% 2.4%
Stock comp / revenue 0.4% 0.3% 0.2% 0.1% 0.2% 0.3% 0.3% 0.3% 0.3% 0.3%
Payouts / FCF 68.5% 49.5% 80.8% 83.9% 65.1% 243.5% 74.6% 76.8% 105.2% 92.9%
Quality scores
Piotroski F-score 7.0 8.0 6.0 4.0 5.0 8.0 6.0 7.0 5.0 7.0
Altman Z'' 3.7 3.6 3.8 3.3 2.8 3.2 3.0 3.1 3.1 3.2
Accruals ratio −6.7% −4.3% −5.4% −4.4% −3.9% −2.2% −5.1% −4.8% −4.3% −4.5%

Source: SEC EDGAR XBRL filings (CIK 0000842162). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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