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AXL

American Axle & Manufacturing Holdings, Inc.

AXL

American Axle & Manufacturing Holdings, Inc. • NYSE
$6.57 ▲ 0.61% (+0.04)
Market Cap $779.84 M
52w High $7.03
52w Low $3.00
Dividend Yield 0%
P/E 19.32
Volume 1.04M
Outstanding Shares 118.70M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.505B ▼ $140.6M ▼ $9.2M ▼ 0.611% ▼ $0 ▼ $157.3M ▼
Q2-2025 $1.536B ▲ $145.7M ▲ $39.3M ▲ 2.558% ▲ $0.33 ▲ $224M ▲
Q1-2025 $1.411B ▲ $131.2M ▲ $7.1M ▲ 0.503% ▲ $0.06 ▲ $176.2M ▲
Q4-2024 $1.381B ▼ $118.1M ▼ $-13.7M ▼ -0.992% ▼ $-0.11 ▼ $152.3M ▼
Q3-2024 $1.505B $129.6M $10M 0.664% $0.085 $160M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $714.1M ▲ $5.343B ▲ $4.625B ▲ $718.4M ▲
Q2-2025 $586.5M ▲ $5.274B ▲ $4.601B ▲ $673M ▲
Q1-2025 $549.2M ▼ $5.139B ▲ $4.543B ▲ $596.3M ▲
Q4-2024 $552.9M ▲ $5.06B ▼ $4.497B ▼ $562.8M ▼
Q3-2024 $542.5M $5.328B $4.712B $616.3M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $9.2M ▼ $0 ▼ $0 ▲ $0 ▲ $0 ▼ $0 ▼
Q2-2025 $39.3M ▲ $91.9M ▲ $-58.4M ▼ $-6M ▲ $37.3M ▲ $34.6M ▲
Q1-2025 $7.1M ▲ $55.9M ▼ $-40.2M ▲ $-24M ▲ $-3.7M ▼ $-13.4M ▼
Q4-2024 $-12.4M ▼ $151.2M ▲ $-80.6M ▼ $-50.2M ▼ $10.4M ▼ $70.1M ▼
Q3-2024 $10M $143.6M $-79.3M $-47.5M $22.6M $70.4M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Driveline
Driveline
 $980.00M ▲$960.00M ▼$1.08Bn ▲$1.05Bn ▼
Metal Forming
Metal Forming
 $520.00M ▲$450.00M ▼$600.00M ▲$590.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has climbed gradually over the last several years and held up well through a tough auto cycle, which is a positive for a supplier tied to vehicle volumes. Profitability, however, is thin. Operating profit has been consistently modest and net income has swung between small profits and small losses, with a deep loss only at the start of the decade. That pattern suggests the core business is viable but very sensitive to costs, volumes, and mix. Any disruption in production or pricing pressure from automakers can quickly erode earnings, so results are improving but still not yet robust or resilient.

Balance Sheet

Balance Sheet The balance sheet shows a company carrying meaningful debt but slowly working it down. Total assets have edged lower as the business becomes a bit leaner, while cash balances have stayed relatively steady, providing some liquidity cushion. Equity has gradually improved from a low base, which indicates some rebuilding of financial strength, but leverage remains notable. Overall, the structure is better than it was a few years ago, yet still relies heavily on borrowed money, which is a key ongoing risk in a cyclical industry.

Cash Flow

Cash Flow Cash generation from the business has been consistently stronger than the accounting profits might suggest. Operating cash flow has held up reasonably well year after year, even when reported earnings were weak. After funding capital spending, the company has repeatedly produced positive free cash flow, although not at very high levels. Capital investment has been steady but disciplined, indicating an effort to support new programs and technologies without overextending. The cash flow profile is a relative strength compared with the thin profit margins, but it would be tested in a severe downturn or if investment needs suddenly rise.

Competitive Edge

Competitive Edge American Axle holds a solid niche in driveline and axle systems, especially for trucks and larger vehicles, with long-standing relationships with major North American and global automakers. These deep ties, engineering know‑how, and a global manufacturing footprint form the core of its competitive position. At the same time, it operates in a highly competitive supplier landscape, going up against other large, capable players. Its concentration in certain customers and segments adds some dependency risk. The company’s move into electrified drivetrains strengthens its relevance to automakers, but it must continue winning new platforms to maintain and grow its share.

Innovation and R&D

Innovation and R&D The company is clearly leaning into innovation to stay relevant as vehicles move toward electrification. Its lightweight Quantum axle platform, integrated electric drive units, e‑Beam electric axles, and fuel‑saving all‑wheel‑drive technologies show a strong engineering focus on efficiency and performance for both traditional and electric vehicles. AAM’s ability to supply complete systems, rather than just individual parts, is a differentiator that can deepen customer relationships. Future value from this innovation pipeline depends on how widely these technologies are adopted across new vehicle programs and how well AAM executes on scaling production and integrating any strategic acquisitions.

Summary

American Axle is a cyclical auto parts supplier that has stabilized its revenue base and is slowly rebuilding profitability after a difficult start to the decade. Its balance sheet remains leveraged but is moving in a healthier direction, supported by steady, positive free cash flow. Competitively, the company benefits from strong customer relationships and specialized expertise in driveline systems, while facing intense competition and structural dependence on a few large automakers. Its strategic focus on electrification and advanced driveline technologies positions it on the right side of industry trends, but long‑term success will hinge on sustained contract wins, continued cost discipline, and careful management of its debt load through future cycles.

NEWS

November 26, 2025 · 8:00 AM UTC

AAM to Present at the UBS Global Industrials and Transportation Conference 2025 on December 3

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November 14, 2025 · 8:00 AM UTC

AAM to Present at Barclays 16th Annual Global Automotive and Mobility Tech Conference on November 19

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November 7, 2025 · 8:00 AM UTC

AAM Reports Third Quarter 2025 Financial Results

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October 27, 2025 · 8:00 AM UTC

RECOMMENDED CASH AND SHARE COMBINATION OF DOWLAIS GROUP PLC ("DOWLAIS") WITH AMERICAN AXLE & MANUFACTURING HOLDINGS, INC. ("AAM")

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October 24, 2025 · 8:00 AM UTC

AAM to Announce Third Quarter Financial Results on November 7

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