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Aptiv
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Latest analysis
Updated Aug 4, 2026
Aptiv posts Q2 2026 revenue of $3.3 billion (+2% YoY) as first standalone quarter post-EDS spin-off; non-auto diversification and margin expansion offset EMEA weakness and negative free cash flow.
Aptiv's inaugural quarter as 'New Aptiv' — following the April 1, 2026 spin-off of Electrical Distribution Systems into Versigent PLC — delivered Adjusted EBITDA margin expansion to 18.7% from 17.1%, driven by volume gains in North America (+10%) and Asia Pacific (+6%), with double-digit non-automotive revenue growth signaling early diversification traction. Free cash flow turned sharply negative at $12 million versus $219 million in Q2 2025, reflecting elevated working capital consumption and separation costs that management frames as transitory. Full-year guidance of $12.6–$12.8 billion in net sales and Adjusted EBITDA of $2.31–$2.37 billion holds, but EMEA declines of 8% and rising commodity costs are the primary margin risks the remaining auto-centric segment must absorb.
Tone: mixedRevenue
$20.4B
APTV 10-K · FY 2025
Employees
140,000
Revenue FY2024
$19.7B
EBITDA margin
17.5%
Profile
APTV 10-K Item 1 · Feb 6, 2026Aptiv PLC is a global industrial technology company that designs and manufactures advanced hardware and software solutions enabling automation, electrification and digitalization across the automotive, aerospace and defense, telecom, and diversified industrial sectors. The company operates through three segments — Advanced Safety and User Experience, Engineered Components Group, and Electrical Distribution Systems — and serves the 25 largest automotive OEMs worldwide. A planned tax-free spin-off of the Electrical Distribution Systems business into a new publicly traded company named Versigent (NYSE: VGNT) is targeted for completion by April 1, 2026.
Read filing description ↓ Collapse description ↑
Aptiv is a global industrial technology company focused on enabling a more automated, electrified and digitalized future. We deliver flexible and scalable solutions that support our customers' transition to an increasingly software-defined future. Our technologies reach from sensor to cloud, including the hardware and software necessary to support automotive and other industries on a global basis. Our Advanced Safety and User Experience segment provides advanced software and services, intelligent sensors and high-performance compute platforms; our Engineered Components Group segment provides connection systems, high-performance interconnects, and cable management and protection solutions; and our Electrical Distribution Systems segment provides low voltage and high voltage power, signal and data distribution. We are one of the largest vehicle technology suppliers and our customers include the 25 largest automotive original equipment manufacturers in the world, as well as many of the leading aerospace and defense companies and global telecom operators. We operate 139 major manufacturing facilities and 11 major technical centers utilizing a regional service model that enables us to efficiently and effectively serve our global customers from best cost countries. We have a presence in 50 countries and have approximately 20,700 scientists, engineers and technicians focused on developing market relevant product solutions for our customers. We believe that key secular trends, including automation, electrification and digitalization, continue to transform the core mobility industry, while also expanding in scope to impact a broader range of end markets, including aerospace and defense, telecom and datacom, and diversified industrials.
Primary products
- Advanced Safety solutions (radar, vision and sensing technologies)
- User Experience solutions (infotainment, driver interface, interior sensing)
- Smart Vehicle Compute and Software (zone control and centralized compute platforms, edge-to-cloud DevOps tools)
- Connection systems
- High-performance interconnects
- Cable management and protection solutions
Business segments
End markets
Geographies
Named customers
Our ten largest customers accounted for approximately 56% of our total net sales for the year ended December 31, 2025, which included approximately 10% to an individual Global OEM.
Named competitors
“We are one of the largest vehicle technology suppliers and our customers include the 25 largest automotive original equipment manufacturers ('OEMs') in the world, as well as many of the leading aerospace and defense companies and global telecom operators.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total net sales increased to $20,398 million in 2025 from $19,713 million in 2024, driven by record revenue with strong growth over the prior year despite a dynamic vehicle production environment, helped by strong growth in other industrial end markets.
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