LEAR CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data LEAR CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	18,558	20,467	21,149	19,810	17,046	19,263	20,892	23,467	23,306	23,259
Cost of revenue	16,435	18,176	18,830	18,073	15,937	17,871	19,482	21,757	21,667	21,755
Gross profit	2,123	2,291	2,318	1,738	1,109	1,392	1,410	1,710	1,639	1,504
Research and development	144	148	154	151
Selling, general and administrative	608	635	613	605	589	643	685	715	703	708
Operating income	1,461	1,608	1,654	1,070	454	675	654	933	888	777
Interest expense	82.5	85.7	84.1	92	99.6	91.8	98.6	101	106	101
Pre-tax income	1,338	1,527	1,538	954	299	584	509	777	733	625
Income tax	370	198	312	146	93.9	138	134	181	191	150
Net income to minority interests	65.4	67.5	96.9	77.1	75.4	87.7	81	73.2	85.2	90.3
Net income	975	1,313	1,150	754	159	374	328	573	507	437
EBITDA	1,840	2,036	2,139	1,580	994	1,249	1,231	1,538	1,508	1,381
EPS, basic	13.48	18.79	17.35	12.80	2.63	6.22	5.49	9.73	9.02	8.22
EPS, diluted	13.33	18.59	17.22	12.75	2.62	6.19	5.47	9.68	8.97	8.15
Shares, basic (weighted)	72.3	68.5	65.7	61.7	60.3	60.1	59.7	58.8	56.1	53.2
Shares, diluted (weighted)	73.1	69.3	66.2	61.9	60.4	60.4	59.9	59.1	56.5	53.6
Dividend per share	0.30	0.50	0.70	0.75			0.77	0.77	0.77	0.77

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,272	1,500	1,493	1,488	1,307	1,318	1,115	1,196	1,053	1,033
Short-term investments		3.2	4.8	17.1	9.3	3.5	3.6
Receivables	2,747	3,231	2,880	2,983	3,269	3,042	3,452	3,681	3,589	3,903
Inventory	1,021	1,206	1,197	1,258	1,401	1,572	1,574	1,758	1,601	1,693
Other current assets	611	676	710	678	800	834	854	1,001	941	1,034
Total current assets	5,649	6,613	6,281	6,407	6,777	6,765	6,994	7,637	7,184	7,663
Property, plant and equipment	2,019	2,459	2,598	2,704	2,736	2,720	2,854	2,977	2,833	2,913
Lease right-of-use assets				527	540	628	702	734	700	722
Goodwill	1,121	1,401	1,405	1,614	1,656	1,658	1,661	1,738	1,699	1,778
Intangible assets	287	444	397	424	368	303	235	189	115	110
Long-term investments		40.6	42.5	42.1	49.4	58.8	53.6
Other non-current assets	1,111	1,472	1,317	1,956	2,030	2,209	2,254	2,343	2,311	2,489
Total assets	9,901	11,946	11,601	12,681	13,199	13,352	13,763	14,696	14,028	14,843
Accounts payable	2,641	3,167	2,863	2,822	3,142	2,952	3,206	3,434	3,251	3,417
Accrued liabilities			1,615	1,811	1,921	1,807	1,962	2,205	2,168	2,219
Short-term debt	35.6	9	12.9	14.1	14.2	0.8	10.8	0.3	2.2	3.7
Total current liabilities	4,182	4,854	4,501	4,666	5,077	4,760	5,188	5,667	5,447	5,667
Long-term debt	1,898	1,952	1,941	2,294	2,300	2,595	2,591	2,743	2,733	2,712
Lease liabilities				422	439	524	595	623	583	595
Other non-current liabilities	627	694	640	1,101	1,207	1,189	1,153	1,225	1,246	1,264
Total liabilities	6,708	7,653	7,240	8,180	8,584	8,544	8,933	9,635	9,427	9,642
Total debt	1,944	1,973	1,967	2,308	2,315	2,596	2,602	2,743	2,736	2,715
Paid-in capital	1,385	1,215	1,017	969	964	1,019	1,023	1,051	1,077	1,111
Retained earnings	3,707	4,172	4,114	4,716	4,807	5,073	5,214	5,601	5,931	6,189
Treasury stock	-1,200	-724	-225	-563	-599	-679	-754	-1,045	-1,424	-1,721
Other comprehensive income	-836	-513	-706	-773	-705	-770	-805	-689	-1,134	-544
Shareholders' equity	3,057	4,151	4,201	4,350	4,467	4,643	4,679	4,919	4,452	5,035
Minority interests	136	142	160	151	148	165	152	142	149	166
Total equity	3,193	4,293	4,361	4,501	4,615	4,808	4,830	5,061	4,601	5,201
Total liabilities and equity	9,901	11,946	11,601	12,681	13,199	13,352	13,763	14,696	14,028	14,843

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	1,041	1,381	1,247	831	234	462	409	646	592	527
Depreciation and amortization	378	428	484	510	540	574	577	604	621	604
Stock-based compensation	68.2	70.2	41.4	23.3	40	60.3	52	67.5	64.4	66.2
Deferred income tax	104	-81.3	86.7	-38.2	-84.7	-55.5	-49.4	-58.8	-56.9	-117
Change in receivables	-176	-115	231	-116	-165	161	-519	-148	-72.8	-89.3
Change in inventory	-53.5	-76	-32.5	-69.1	-108	-213	-29.8	-118	76.9	0.9
Change in payables	158	195	-199	-5.5	214	-130	369	162	-48.8	-28.7
Cash from operations	1,619	1,783	1,780	1,284	663	670	1,021	1,249	1,120	1,089
Capital expenditures	-528	-595	-677	-604	-452	-585	-638	-627	-559	-562
Acquisitions	-156	-292	0	-322	0	0	-188	-175	-0.8	0
Cash from investing	-637	-869	-694	-922	-469	-647	-830	-762	-543	-517
Debt repaid				-334	-667	-222	0	0	-50	-50
Share buybacks	-659	-451	-705	-385	-70	-100	-100	-297	-417	-325
Dividends paid	-88.8	-138	-186	-186	-67.3	-107	-186	-182	-174	-165
Cash from financing	-873	-742	-1,031	-362	-412	-13.6	-387	-420	-694	-619
Exchange rate effect	-34.3	56.3	-36.4	-9.4	21.5	-3	-7.7	12.8	-26.3	26.4
Net change in cash	75	229	19.4	-9.4	-196	6.8	-204	81.1	-143	-20.1
Free cash flow	1,091	1,189	1,103	680	211	85	383	623	561	527
Interest paid	88.8	94	97.1	104	118	91.6	96.5	112	116	114
Income taxes paid	238	284	279	172	142	148	195	218	268	277

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 4, 2026; growth uses fiscal years. Valuation uses the share price of $122.71 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	6.9%	Gross profit / revenue.
Operating margin	3.7%	Operating income / revenue.
EBITDA margin	6.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	3.1%	Pre-tax income / revenue.
Net margin	2.3%	Net income / revenue.
FCF margin	3.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.2%	Cash from operations / revenue.
Effective tax rate	20.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	10.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.6%	Net income / average total assets.
Return on invested capital (ROIC)	10.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	3.1%	Selling, general and administrative expense / revenue.
Capex / revenue	2.7%	Capital expenditures / revenue.
D&A / revenue	2.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-0.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	3.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-8.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	2.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	6.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-12.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	5.9%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	11.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-8.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	3.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	6.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-13.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	10.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	22.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-9.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	14.2%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	25.5%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-2.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	2.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	10.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-6.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	11.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	20.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	13.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	2.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-5.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-3.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.31x	Current assets / current liabilities.
Quick ratio	0.82x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.16x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.52x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	17.4%	Total debt / total assets.
Liabilities / assets	66.0%	Total liabilities / total assets.
Net debt	$1.72B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.17x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	8.76x	Operating income / interest expense.
Working capital	$2.00B	Current assets - current liabilities.
Goodwill and intangibles / assets	11.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$3.40B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.51x	Revenue / average total assets.
Fixed asset turnover	8.27x	Revenue / average property, plant and equipment.
Inventory turnover	12.8x	Cost of revenue / average inventory.
Days inventory	29 days	365 x average inventory / cost of revenue.
Receivables turnover	5.63x	Revenue / average receivables.
Days sales outstanding	65 days	365 x average receivables / revenue.
Days payables	65 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	28 days	Days inventory + days sales outstanding - days payables.
FCF conversion	152.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	42.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$10.94	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$466.35	Revenue / diluted weighted shares.
FCF per share	$16.71	Free cash flow / diluted weighted shares.
Operating cash flow per share	$29.10	Cash from operations / diluted weighted shares.
Book value per share	$101.94	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$66.97	Tangible book value / shares outstanding.
Cash per share	$19.69	(Cash + short-term investments) / shares outstanding.
Payout ratio	29.0%	Dividends paid / net income, when net income is positive.
Dividends / FCF	19.0%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	53.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$6.05B	Share price x shares outstanding.
Enterprise value	$7.77B	Market cap + total debt - cash - short-term investments.
P/E	10.9x	Market cap / net income. Only when net income is positive.
P/S	0.26x	Market cap / revenue.
P/B	1.17x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.78x	Market cap / tangible book value, when positive.
P/FCF	7.13x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	4.09x	Market cap / cash from operations, when positive.
EV/Sales	0.33x	Enterprise value / revenue.
EV/EBIT	8.93x	Enterprise value / operating income, when both are positive.
EV/EBITDA	5.29x	Enterprise value / EBITDA, when both are positive.
EV/FCF	9.15x	Enterprise value / free cash flow, when both are positive.
FCF yield	14.0%	Free cash flow / market cap.
Earnings yield	9.2%	Net income / market cap (the inverse of P/E).
Dividend yield	2.7%	Dividends paid over the period / market cap.
Shareholder yield	10.1%	(Dividends paid + share buybacks) / market cap.
PEG	0.77x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was LEAR CORP's revenue in fiscal 2025?

LEAR CORP reported revenue of $23.26B for fiscal 2025, 0.2% lower than the year before.

Was LEAR CORP profitable in fiscal 2025?

Yes. Net income was $436.8M, a net margin of 1.9%.

How much free cash flow did LEAR CORP generate in fiscal 2025?

Cash from operations of $1.09B minus capital expenditures of $561.6M left free cash flow of $527.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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