Commercial Vehicle Group, Inc.

Listed Company

CVGICIK 0001290900NasdaqNon-AcceleratedMotor Vehicle Parts & AccessoriesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$649.00M

Net Income

$-22.78M

Total Assets

$391.71M

Equity

$133.36M

Shares Out

36.64M

Op. Cash Flow

$44.64M

Business

Commercial Vehicle Group, Inc. is a global supplier of systems, assemblies and components for commercial and electric vehicles, serving OEM and aftermarket customers. It designs, engineers and manufactures seats and seating systems, plastic trim and cab interiors, electrical wire harnesses, cable and control boxes, mirrors, wipers and sensors. The company reports three segments—Vehicle Solutions, Electrical Systems and Aftermarket & Accessories—each producing components and subassemblies for vehicle and industrial end markets. Manufacturing spans North America, Europe, Asia‑Pacific and Africa, with sales through OEM channels, OES centers, distributors and retail aftermarket.

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	649	723	835	783	972
Cost of revenues	581	650	714	698	853
Gross profit	68	73	121	85	119
Selling, general and administrative expenses	69	74	81	60	69
Operating income (loss)	−656,000	−758,000	40	25	50
Other (income) expense	2	−2	1	10	−878,000
Interest expense	13	9	10	9	—
Loss on extinguishment of debt	460,000	509,000	0	921,000	7
Income (loss) before provision for income taxes	−16	−8	28	4	32
Provision (benefit) for income taxes	5	27	−15	21	8
Net income (loss) from continuing operations	−20	−36	44	−17	—
Net income (loss) from discontinued operations - Note 17	−2	8	6	−5	—
Net income (loss)	−23	−28	49	−22	24
Income (loss) from continuing operations (in dollars per share)	−0.61	−1.07	1.32	−0.51	—
Income (loss) from discontinued operations (in dollars per share)	−0.07	0.24	0.18	−0.17	—
Income (loss) from continuing operations (in dollars per share)	−0.61	−1.07	1.3	−0.51	—
Income (loss) from discontinued operations (in dollars per share)	−0.07	0.24	0.17	−0.17	—
Basic (in shares)	34	33	33	32	32
Diluted (in shares)	34	33	34	32	33

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	33	27	38	32	35
Accounts receivable, net of allowances of $1,192 and $554, respectively	86	119	129	153	175
Inventories	119	128	117	143	141
Other current assets	25	30	28	13	20
Total current assets	263	303	328	340	371
Property, plant and equipment, net of accumulated depreciation of $193,182 and $177,811, respectively	67	69	69	68	63
Operating lease right-of-use asset, net	37	30	31	26	26
Intangible assets, net of accumulated amortization of $8,557 and $9,491, respectively	3	4	7	15	—
Deferred income taxes, net	11	11	34	12	24
Other assets	10	7	6	10	5
TOTAL ASSETS	392	425	483	470	508
Accounts payable	74	77	75	122	102
Current operating lease liabilities	8	8	8	7	9
Accrued liabilities and other	24	32	45	35	42
Current portion of long-term debt and short-term debt	2	8	—	—	—
Total current liabilities	108	126	145	176	162
Long-term debt	104	127	126	141	186
Long-term operating lease liabilities	30	23	24	19	19
Pension and other post-retirement liabilities	7	8	9	8	10
Other long-term liabilities	9	5	5	5	5
Total liabilities	258	289	310	350	381
Commitments and contingencies (Note 15)	—	—	—	—	—
Preferred stock, $0.01 par value (5,000,000 shares authorized; no shares issued and outstanding)	0	0	0	0	0
Common stock, $0.01 par value (60,000,000 shares authorized; 34,185,682 and 33,694,396 shares issued and outstanding, respectively)	342,000	337,000	333,000	328,000	321,000
Treasury stock, at cost: 2,409,285 and 2,252,305 shares, respectively	−17	−16	−16	−15	−13
Additional paid-in capital	273	269	265	261	256
Retained deficit	−97	−74	−46	−96	−74
Accumulated other comprehensive loss	−26	−43	−30	−32	−42
Total stockholders equity	133	136	173	120	127
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	392	425	483	470	508

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	15	17	18	18	18
Noncash amortization of debt financing costs	1	337,000	303,000	350,000	1
Pension plan settlement	0	0	3	9	0
Shared-based compensation expense	4	4	4	6	6
Deferred income tax expense (benefit)	505,000	24	−21	12	2
Noncash (gain) loss on derivative contracts	−2	−1	−535,000	−43,000	−788,000
Gain on sale of assets	0	−4	0	0	—
Loss on sale of Industrial Automation segment	0	8	0	0	—
Gain on sale of Cab structures business	0	−29	0	0	—
Accounts receivable	34	11	19	19	−24
Inventories	11	−13	15	−4	−50
Prepaid expenses	2	794,000	−5	966,000	−2
Accounts payable	−4	3	−44	22	−12
Accrued liabilities	−5	−9	11	−912,000	4
Cloud computing arrangements	−1	−2	−800,000	−1	—
Income taxes payable	3	−5	−4	155,000	—
Other operating activities, net	8	−12	−6	4	−7
Net cash provided by (used in) operating activities	45	−33	38	69	−30
Purchases of property, plant and equipment	−11	−19	−20	−20	−18
Proceeds from disposal/sale of property, plant and equipment	45,000	4	0	0	87,000
Proceeds from sale of business	0	45	0	0	—
Net cash provided by (used in) investing activities	−11	31	−20	−20	−18
Borrowings under Term Loan due 2030	95	0	0	—	—
Repayment of Term Loan due 2030	−475,000	0	0	—	—
Repayment of Prior Term Loan due 2027	−85	−57	−11	—	—
Borrowings under prior revolving credit facility	0	89	25	—	—
Repayment of prior revolving credit facility	−51	−39	−25	−115	−37
Borrowings under ABL revolving credit facility due 2030	30	0	0	0	11
Repayment of ABL revolving credit facility due 2030	−13	0	0	0	−11
Borrowings under China credit facility	4	0	4	—	—
Repayment of China credit facility	−3	0	−4	0	0
Surrender of common stock by employees	−238,000	−318,000	−2	—	—
Debt extinguishment payments and early payment fees on debt	0	−416,000	0	0	−3
Debt issuance and amendment costs	−6	−218,000	0	−648,000	−2
Other financing activities, net	−161,000	−107,000	−155,000	−201,000	−342,000
Net cash provided by (used in) financing activities	−29	−7	−13	−50	31
EFFECT OF CURRENCY EXCHANGE RATE CHANGES ON CASH	2	−2	172,000	−2	—
NET (DECREASE) INCREASE IN CASH	7	−11	6	−3	−16

Filings

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