STONERIDGE INCSRI
STONERIDGE INC Segments Disclosure
Segment Reporting
Operating segments are defined as components of an enterprise that are evaluated regularly by the Company’s chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. The Company’s CODM is the chief executive officer.
The Company has three reportable segments, Control Devices, Electronics and Stoneridge Brazil, which also represent its operating segments. The Control Devices reportable segment produces actuators, sensors, switches and connectors. The Electronics reportable segment produces advanced driver information solutions, vision systems, connectivity and compliance solutions and control modules. The Stoneridge Brazil reportable segment designs and manufactures vehicle tracking devices and monitoring services, driver information systems, vehicle security alarms and convenience accessories, telematics solutions and multimedia devices.
The accounting policies of the Company’s reportable segments are the same as those described in Note 2. The Company’s management evaluates the performance of its reportable segments based primarily on revenues from external customers, capital expenditures and operating income. Inter-segment sales are eliminated upon consolidation.
The Company's management, including the CODM, utilizes operating income as the key performance measure of segment profitability to evaluate segment performance, and for planning and forecasting purposes to allocate resources to the segments, as management believes this measure is most reflective of the financial performance of the Company's operating segments. The CODM regularly evaluates budget-to-actual and period-over-period variances for this metric when making decisions about the allocation of operating and capital resources to each segment. The CODM also uses operating income in evaluating the operating performance of each segment and as part of determining the compensation of the segment managers and certain other employees. COGS and D&D are the significant expenses regularly reviewed by the CODM. Other segment costs primarily include SG&A items.
The financial information presented below is for our three reportable operating segments and includes adjustments for unallocated corporate costs and intercompany eliminations, where applicable. Such costs and eliminations do not meet the requirements for being classified as an operating segment. Corporate costs include various support functions, such as accounting/finance, executive administration, human resources, information technology and legal.
A summary of financial information by reportable segment is as follows:
| December 31, | 2025 | 2024 | 2023 | |||||||||||||||||
| Net Sales: | ||||||||||||||||||||
| Control Devices | $ | 274,500 | $ | 292,606 | $ | 342,065 | ||||||||||||||
| Inter-segment sales | 3,409 | 3,677 | 3,195 | |||||||||||||||||
| Control Devices net sales | 277,909 | 296,283 | 345,260 | |||||||||||||||||
| Electronics | 526,405 | 566,040 | 576,539 | |||||||||||||||||
| Inter-segment sales | 24,967 | 28,664 | 31,621 | |||||||||||||||||
| Electronics net sales | 551,372 | 594,704 | 608,160 | |||||||||||||||||
| Stoneridge Brazil | 60,358 | 49,649 | 57,214 | |||||||||||||||||
| Inter-segment sales | 4,761 | 477 | 13 | |||||||||||||||||
| Stoneridge Brazil net sales | 65,119 | 50,126 | 57,227 | |||||||||||||||||
| Eliminations | (33,137) | (32,818) | (34,829) | |||||||||||||||||
| Total net sales | $ | 861,263 | $ | 908,295 | $ | 975,818 | ||||||||||||||
| Cost of Goods Sold: | ||||||||||||||||||||
| Control Devices | $ | 232,863 | $ | 243,784 | $ | 285,303 | ||||||||||||||
| Electronics | 422,506 | 445,537 | 456,403 | |||||||||||||||||
| Stoneridge Brazil | 34,809 | 29,745 | 32,630 | |||||||||||||||||
Unallocated Corporate (A) | (69) | (24) | 176 | |||||||||||||||||
| Total cost of goods sold | $ | 690,109 | $ | 719,042 | $ | 774,512 | ||||||||||||||
| December 31, | 2025 | 2024 | 2023 | |||||||||||||||||
| Design and Development: | ||||||||||||||||||||
| Control Devices | $ | 15,857 | $ | 20,044 | $ | 21,848 | ||||||||||||||
| Electronics | 40,914 | 45,560 | 43,027 | |||||||||||||||||
| Stoneridge Brazil | 2,545 | 3,113 | 3,061 | |||||||||||||||||
Unallocated Corporate (A) | 3,211 | 3,457 | 3,139 | |||||||||||||||||
| Total design and development | $ | 62,527 | $ | 72,174 | $ | 71,075 | ||||||||||||||
| Other Segment Costs: | ||||||||||||||||||||
| Control Devices | $ | 22,080 | $ | 22,600 | $ | 21,332 | ||||||||||||||
| Electronics | 48,670 | 49,382 | 49,799 | |||||||||||||||||
| Stoneridge Brazil | 17,425 | 15,809 | 17,068 | |||||||||||||||||
Unallocated Corporate (A) | 37,430 | 29,669 | 29,196 | |||||||||||||||||
| Total other segment costs | $ | 125,605 | $ | 117,460 | $ | 117,395 | ||||||||||||||
| Operating (Loss) Income: | ||||||||||||||||||||
| Control Devices | $ | (17,927) | $ | 6,178 | $ | 13,582 | ||||||||||||||
| Electronics | 14,315 | 25,561 | 27,309 | |||||||||||||||||
| Stoneridge Brazil | 5,578 | 982 | 4,454 | |||||||||||||||||
Unallocated Corporate (A) | (40,572) | (33,102) | (32,509) | |||||||||||||||||
| Total operating (loss) income | $ | (38,606) | $ | (381) | $ | 12,836 | ||||||||||||||
| Depreciation and Amortization: | ||||||||||||||||||||
| Control Devices | $ | 10,578 | $ | 11,686 | $ | 12,414 | ||||||||||||||
| Electronics | 15,885 | 15,814 | 14,035 | |||||||||||||||||
| Stoneridge Brazil | 4,691 | 4,753 | 4,801 | |||||||||||||||||
Unallocated Corporate(C) | 1,334 | 2,013 | 2,388 | |||||||||||||||||
Total depreciation and amortization (B) | $ | 32,488 | $ | 34,266 | $ | 33,638 | ||||||||||||||
| Interest Expense (Income), net: | ||||||||||||||||||||
| Control Devices | $ | (184) | $ | (4) | $ | 149 | ||||||||||||||
| Electronics | 740 | 1,498 | 1,771 | |||||||||||||||||
| Stoneridge Brazil | (892) | (982) | (1,693) | |||||||||||||||||
| Unallocated Corporate | 13,914 | 13,935 | 12,773 | |||||||||||||||||
| Total interest expense, net | $ | 13,578 | $ | 14,447 | $ | 13,000 | ||||||||||||||
| Capital Expenditures: | ||||||||||||||||||||
| Control Devices | $ | 8,446 | $ | 6,544 | $ | 9,230 | ||||||||||||||
| Electronics | 6,329 | 8,623 | 18,313 | |||||||||||||||||
| Stoneridge Brazil | 4,587 | 2,705 | 3,054 | |||||||||||||||||
Unallocated Corporate(C) | 804 | 1,338 | 1,229 | |||||||||||||||||
| Total capital expenditures | $ | 20,166 | $ | 19,210 | $ | 31,826 | ||||||||||||||
| December 31, | 2025 | 2024 | ||||||||||||
| Total Assets: | ||||||||||||||
| Control Devices | $ | 109,461 | $ | 136,028 | ||||||||||
| Electronics | 366,258 | 365,226 | ||||||||||||
| Stoneridge Brazil | 60,930 | 48,280 | ||||||||||||
Corporate (C) | 411,088 | 471,793 | ||||||||||||
| Eliminations | (396,549) | (399,771) | ||||||||||||
| Total assets | $ | 551,188 | $ | 621,556 | ||||||||||
The following tables present net sales and long-term assets for the geographic areas in which the Company operates:
| December 31, | 2025 | 2024 | 2023 | |||||||||||||||||
| Net Sales: | ||||||||||||||||||||
| United States | $ | 392,298 | $ | 447,142 | $ | 495,541 | ||||||||||||||
| North America | $ | 392,298 | $ | 447,142 | $ | 495,541 | ||||||||||||||
| Brazil | 60,358 | 49,649 | 57,214 | |||||||||||||||||
| South America | $ | 60,358 | $ | 49,649 | $ | 57,214 | ||||||||||||||
| Sweden | 134,991 | 159,035 | 157,895 | |||||||||||||||||
| Estonia | 128,762 | 110,112 | 109,480 | |||||||||||||||||
| Netherlands | 92,578 | 84,297 | 74,842 | |||||||||||||||||
| Other Europe | 3,996 | 6,755 | 18,465 | |||||||||||||||||
| China | 48,280 | 51,305 | 62,381 | |||||||||||||||||
| Europe and Other | $ | 408,607 | $ | 411,504 | $ | 423,063 | ||||||||||||||
| Total net sales | $ | 861,263 | $ | 908,295 | $ | 975,818 | ||||||||||||||
| December 31, | 2025 | 2024 | ||||||||||||
| Long-term Assets: | ||||||||||||||
| United States | $ | 26,587 | $ | 90,111 | ||||||||||
| Mexico | 8,781 | 5,254 | ||||||||||||
| North America | $ | 35,368 | $ | 95,365 | ||||||||||
| Brazil | 31,190 | 25,222 | ||||||||||||
| South America | $ | 31,190 | $ | 25,222 | ||||||||||
| Sweden | 34,962 | 32,918 | ||||||||||||
| Estonia | 11,052 | 8,363 | ||||||||||||
| Netherlands | 61,322 | 57,677 | ||||||||||||
| Other Europe | 439 | 653 | ||||||||||||
| China | 14,986 | 13,844 | ||||||||||||
| Europe and Other | $ | 122,761 | $ | 113,455 | ||||||||||
| Total long-term assets | $ | 189,319 | $ | 234,042 | ||||||||||
_____________________________
(A)Unallocated Corporate expenses include, among other items, accounting/finance, human resources, information technology and legal costs as well as share-based compensation.
(B)These amounts represent depreciation and amortization on property, plant and equipment and certain intangible assets.
(C)Assets located at Corporate consist primarily of cash, intercompany receivables, fixed and leased assets for the headquarter building, information technology assets, equity investments and investments in subsidiaries.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 16, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Mar 1, 2024 | |
| 2022 | Mar 2, 2023 | |
| 2021 | Feb 28, 2022 | |
| 2020 | Feb 24, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Mar 7, 2018 | |
| 2016 | Mar 2, 2017 | |
| 2015 | Mar 14, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.