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Global auto supplier making vehicle seating systems and electrical/electronic distribution systems for automakers.
Global auto supplier making vehicle seating systems and electrical/electronic distribution systems for automakers.
Wins contracts years before a vehicle launches, then supplies seats, or wiring and electronics, in sequence to automakers' assembly lines for the life of that model, so sales track the production volumes of models it has won rather than market share. Seating is the larger and steadier business.
Moat: narrow (scale, customer qualification, installed base). Deep OEM design-in relationships for seating and wiring architectures create switching costs.
Headquarters: Southfield, Michigan, US · Founded: 1917 · Employees: 164,300
Size Lear (LEA) is a United States Consumer Discretionary company (Auto Parts: OEM) with a market value of $5.31B, the 1143rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $110.28 on 6 Nov 2026.
Performance Over six months the shares fell 21.1%, against -16.8% for the median peer and -1.1% for the United States market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 3.5% over the last twelve months (peer median +7.3%); the operating margin is 4.0% (peer median 6.9%).
Valuation It trades at 6.9× forward earnings against a peer median of 16.9× (2nd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.6 points above its cost of capital (9.0% WACC).
Credit Lear has 6 bonds outstanding ($2.60B), rated BBB by the agencies and trading like BBB at a weighted spread of 99 bp.
Short interest Short interest is 6.1% of the free float (15 Oct 2026).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $23.8B | $23.3B | $23.3B | $23.5B | $20.9B |
| Revenue growth | — | 0% | -1% | +12% | — |
| Gross profit | $1.67B | $2.13B | $2.08B | $2.04B | $1.82B |
| EBITDA | $1.56B | $1.63B | $1.57B | $1.52B | $1.34B |
| Net income | $584M | $437M | $507M | $572M | $328M |
| Free cash flow | $701M | $527M | $561M | $623M | $383M |
| Capital expenditure | $663M | $562M | $559M | $626M | $638M |
| Total debt | $3.51B | $3.51B | $3.50B | $3.55B | $3.34B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Lear LEA | $5.31B | -21% | +4% | 4% | 6.9× | -1.3% |
| Adient ADNT | $1.26B | -28% | +4% | 3% | 6.1× | -17.6% |
| Magna International MG.TO | $16.1B | +4% | 0% | 6% | 8.2× | 0.1% |
| Aptiv APTV | $7.98B | -32% | -5% | 10% | 6.8× | -6.8% |
| Toyota Boshoku 3116.T | $2.28B | -9% | +8% | 2% | 7.7× | -7.3% |
| Forvia FRVIA.PA | $1.93B | -20% | -32% | 5% | n/a | -8.3% |
| Sumitomo Electric Industries 5802.T | $27.3B | -47% | +14% | 9% | 11.4× | 13.3% |
| Samvardhana Motherson International MOTHERSON.NS | $17.9B | +22% | +14% | 6% | 30.2× | 30.9% |
| TS Tech 7313.T | $1.25B | -3% | 0% | 2% | 23.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | LEA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.0% | -0.6% | 8th lowest of 21 |
| 6-month return | -21.1% | -16.8% | 10th lowest of 21 |
| Distance from 52-week high | -26.6% | -41.2% | 10th highest of 21 |
| Revenue growth (TTM) | +3.5% | +7.3% | 7th lowest of 21 |
| Operating margin | 4.0% | 6.9% | 4th lowest of 21 |
| Forward P/E | 6.9× | 16.9× | 2nd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -1.3% | 1.2% | 5th least demanding of 14 |
| Growth delivered (Del g) | +6.4% | +9.1% | 5th lowest of 14 |
| Hurdle (Req g minus delivered) | -7.7 pp | -6.8 pp | 7th least demanding of 14 |
| ROIC minus cost of capital | +0.6 pp | +0.7 pp | 11th highest of 21 |
| EV / EBITDA | 5.2× | 7.3× | 5th cheapest of 10 |
| Net debt / EBITDA | 1.7× | 0.9× | 5th most indebted of 11 |
| Bond spread | 99 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lear LEA | United States | $5.31B | -21% | +4% | 4% | 6.9× | -1.3% | +6.4% |
| Jiangsu Xinquan Automotive Trim 603179.SS | China | $5.07B | +5% | +12% | 6% | 33.5× | n/a | n/a |
| Brembo BRE.MI | Italy | $5.62B | -11% | -3% | 7% | 13.7× | 17.3% | +10.9% |
| Suzhou Inovance Automotive 301656.SZ | China | $4.95B | -31% | +28% | 1% | 676.0× | n/a | n/a |
| Schaeffler SHA0.DE | Germany | $5.83B | -45% | -1% | 2% | 18.4× | 10.7% | +13.3% |
| Sona BLW Precision Forgings SONACOMS.NS | India | $5.94B | +56% | +42% | 17% | 63.7× | 48.2% | +23.6% |
| Kuang-Chi Technologies 002625.SZ | China | $6.05B | -52% | -7% | 20% | 21.6× | n/a | n/a |
| Ningbo Joyson Electronic 0699.HK | Hong Kong | $4.54B | -39% | -1% | 5% | 9.7× | -1.7% | +4.3% |
| Wanxiang Qianchao 000559.SZ | China | $6.24B | -22% | -4% | 8% | 36.7× | 21.2% | +4.2% |
| Zhejiang Sling Intelligent Drive 301550.SZ | China | $6.34B | +14% | +7% | 19% | 230.9× | n/a | n/a |
| Anhui Jianghuai Automobile 600418.SS | China | $6.48B | -60% | +23% | -2% | 44.4× | n/a | n/a |
| Koito Manufacturing 7276.T | Japan | $4.27B | -6% | +6% | 6% | 13.3× | -0.8% | +6.1% |
| Gentex GNTX | United States | $4.19B | -15% | +8% | 19% | 9.9× | -4.7% | +8.5% |
| Atmus Filtration Technologies ATMU | United States | $4.13B | -9% | +13% | 17% | 16.2× | 8.1% | +7.4% |
| Huizhou Desay SV Automotive 002920.SZ | China | $7.12B | -23% | +12% | 7% | 17.5× | n/a | n/a |
| Fulin Precision 300432.SZ | China | $3.84B | -47% | +95% | 5% | 20.2× | n/a | n/a |
| Inter Cars CAR.WA | Poland | $3.83B | +38% | +12% | 6% | 13.9× | 9.5% | +18.3% |
| Jtekt 6473.T | Japan | $3.82B | -1% | +4% | 5% | 11.4× | 1.2% | +9.1% |
| Toyoda Gosei 7282.T | Japan | $3.81B | +26% | +13% | 7% | 9.8× | 0.5% | +9.7% |
| ZCZL Industrial Technology 601717.SS | China | $3.80B | -19% | -1% | 8% | 6.3× | -9.8% | +9.4% |
| Garrett Motion GTX | United States | $3.72B | -31% | +7% | 15% | 9.9× | -6.9% | +3.4% |
Lear has 6 bonds outstanding with $2.60B face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 5.90%, a spread of 99 bp over government bonds.