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In December 2024, Old Aptiv (as defined below), a public limited company formed under the laws of Jersey on May 19, 2011, completed its previously announced reorganization transaction (the Transaction, or the reorganization transaction ), in which Old Aptiv established a new publicly-listed Jersey parent company, Aptiv Holdings Limited ( New Aptiv ), which is resident for tax purposes in Switze…
$55.85
+$1.28 (+2.35%)
Price from 13 days ago
Operating margin is thin at 5.80%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 3.5%, steady but not accelerating. Margins contracted 3.5pp, which offsets some of the top-line progress.
At 33x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from 8.86% to 5.26%, capital efficiency is deteriorating.
33.2x earnings, 10.9x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$20.66B
▲ +3.5% YoY
Net Income (TTM)
$365M
▼ -90.8% YoY
Op. Margin
5.39%
▼ -3.5pp YoY
ROIC
3.82%
▼ -3.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.09B
▼ -5.4% YoY
Op. Cash Flow (TTM)
$1.77B
▼ -10.7% YoY
Net Debt
$6.82B
Cash & Equiv.
$3.17B
5Y CAGR: +9.3%
5Y CAGR: +13.0%
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