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CVGI

Commercial Vehicle Group, Inc.

CVGI

Commercial Vehicle Group, Inc. • NASDAQ
$1.77 ▲ 2.91% (+0.05)
Market Cap $65.01 M
52w High $2.65
52w Low $0.81
Dividend Yield 0%
P/E -1.2
Volume 55.88K
Outstanding Shares 36.73M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $152.489M ▼ $17.104M ▼ $-7.08M ▼ -4.643% ▼ $-0.21 ▼ $1.592M ▼
Q2-2025 $171.956M ▲ $19.872M ▲ $-4.761M ▼ -2.769% ▼ $-0.14 ▼ $5.297M ▼
Q1-2025 $169.795M ▲ $16.885M ▼ $-4.312M ▲ -2.54% ▲ $-0.13 ▲ $5.403M ▲
Q4-2024 $163.292M ▼ $18.914M ▼ $-38.719M ▼ -23.712% ▼ $-1.16 ▼ $409K ▼
Q3-2024 $171.772M $20.981M $9.514M 5.539% $0.28 $7.549M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $31.326M ▼ $400.265M ▼ $263.738M ▼ $136.527M ▼
Q2-2025 $45.29M ▲ $429.794M ▲ $287.159M ▲ $142.635M ▲
Q1-2025 $20.213M ▼ $419.823M ▼ $283.167M ▼ $136.656M ▲
Q4-2024 $26.63M ▼ $424.573M ▼ $288.981M ▼ $135.592M ▼
Q3-2024 $30.885M $495.341M $316.076M $179.265M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-7.079M ▼ $-1.686M ▼ $-1.76M ▼ $-10.442M ▼ $-13.964M ▼ $-3.504M ▼
Q2-2025 $-4.761M ▼ $18.869M ▲ $-1.465M ▲ $5.901M ▲ $25.077M ▲ $17.404M ▲
Q1-2025 $-4.312M ▲ $15.172M ▲ $-3.806M ▼ $-18.12M ▼ $-6.417M ▼ $11.366M ▲
Q4-2024 $-34.998M ▼ $-26.617M ▼ $18.028M ▼ $5.805M ▲ $-4.255M ▲ $-30.59M ▼
Q3-2024 $-883K $-17.067M $20.934M $-13.282M $-8.456M $-20.348M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Mirrors Wipers And Controls
Mirrors Wipers And Controls
 $20.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲
Electronic Wire Harnesses Panel and Assemblies
Electronic Wire Harnesses Panel and Assemblies
 $90.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Over the last several years, CVGI’s sales have been fairly flat, with a strong year in 2023 followed by a clear step down in 2024, back toward pandemic-era levels. Profitability is thin and quite volatile: sometimes modestly profitable, sometimes losing money. 2023 was a comparatively good year with healthier margins, but 2024 shows much weaker operating profits and a return to net losses. This pattern suggests a business that is very sensitive to swings in demand and to cost pressures, with limited cushion in its margins when conditions soften.

Balance Sheet

Balance Sheet The balance sheet looks serviceable but not particularly conservative. Total assets have drifted slightly down from earlier highs, and the cash balance is relatively small, which means the company does not have a very large liquidity buffer. Debt has stayed fairly steady rather than being paid down aggressively, and equity has moved around with profits and losses instead of showing a steady build. Overall, leverage appears manageable but not low, and there is limited room for major missteps without putting strain on the financial structure.

Cash Flow

Cash Flow Cash generation has been choppy and inconsistent. Some years the core business throws off reasonable cash, but in other years—like 2024—operating cash flow turns negative. Free cash flow follows the same pattern: positive in better years, negative in tougher ones, even though the company keeps investment spending relatively modest and stable. This volatility in cash flow underlines the cyclical and operationally sensitive nature of the business and suggests that careful working-capital management is important for them.

Competitive Edge

Competitive Edge CVGI operates in a tough, price-sensitive auto and commercial vehicle parts market, but it has a few meaningful strengths. Long-standing relationships with major vehicle makers, a global manufacturing footprint, and a broad “one-stop” offering of cab-related components give it a solid seat at the table with big OEMs. Its move into electric vehicles and warehouse automation helps reduce reliance on traditional truck cycles and adds higher-growth avenues. That said, bargaining power still largely sits with large OEM customers, competition is intense, and execution in newer markets will be crucial to turning these advantages into more stable profitability.

Innovation and R&D

Innovation and R&D Innovation is a relative bright spot. CVGI is pushing into higher-value solutions such as advanced electrical systems for EVs, digital wiring boards that speed up customization, and ergonomic, technology-rich seating. It is also applying its engineering skills to warehouse automation and exploring interior concepts for more automated and autonomous vehicles. These efforts could gradually shift the mix toward more differentiated, less commoditized offerings. However, this is still a transition phase: the payoffs depend on winning and retaining key platforms in EVs, automation, and next-generation vehicle programs.

Summary

CVGI is a cyclical, operationally sensitive supplier in the commercial vehicle and auto parts space, currently in the midst of a strategic shift. Financially, the company shows flat-to-down sales versus its recent peak, thin and volatile margins, and uneven cash flow, all against a balance sheet that is acceptable but not especially cushioned. Strategically, its entrenched OEM relationships, global footprint, and broad product range are meaningful strengths, and its push into electrification, automation, and warehouse solutions offers real long-term opportunity. The key questions going forward are whether these innovation and diversification efforts can meaningfully stabilize earnings, improve margins, and smooth out the pronounced ups and downs that have characterized results so far.

NEWS

October 29, 2025 · 4:30 PM UTC

CVG Announces Third Quarter 2025 Earnings Call

Read more