Revenue growth remains inconsistent, fluctuating between a 6.8% increase in 2026Q1 and a 4.9% contraction in 2024Q4, while gross margins remain range-bound between 16.9% and 21.0%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 |
|---|
| Sales/Revenue | 10.99B | 10.81B | 10.39B | 10.47B | 8.84B | 8.23B | 7.45B | 8.55B | 8.68B | 10.38B | 10.07B | 9.17B | 9.24B | 8.8B | 8.27B | 8.23B | 7.17B | 5.12B | 6.47B | 6.77B | 6.19B | 6.2B | 6.14B | 5.3B | 4.44B | 3.99B | 4.12B | 3.81B | 3.49B | 2.74B |
| Revenue Growth % | 6.14% | 4.09% | -0.81% | 18.47% | 7.44% | 10.51% | -12.87% | -1.5% | -16.42% | 3.07% | 9.86% | -0.77% | 4.97% | 6.49% | 0.42% | 14.81% | 40.03% | -20.89% | -4.37% | 9.39% | -0.27% | 0.99% | 15.91% | 19.3% | 11.34% | -3.04% | 7.97% | 9.27% | 27.34% | - |
| Cost of Goods Sold | 8.87B | 8.74B | 8.46B | 8.65B | 7.45B | 6.72B | 6.2B | 6.96B | 6.97B | 6.46B | 6.29B | 7.33B | 7.44B | 7.1B | 6.62B | 6.5B | 5.58B | 4.27B | 5.35B | 5.44B | 4.92B | 4.94B | 4.92B | 4.3B | 3.63B | 3.34B | 3.33B | 2.82B | 2.57B | 2.03B |
| COGS % of Revenue | - | 80.82% | 81.45% | 82.62% | 84.21% | 81.64% | 83.26% | 81.46% | 80.28% | 62.19% | 62.48% | 79.89% | 80.48% | 80.64% | 80.09% | 79.01% | 77.8% | 83.44% | 82.63% | 80.34% | 79.55% | 79.56% | 80.12% | 81.08% | 81.75% | 83.59% | 80.9% | 73.87% | 73.8% | 74.21% |
| Gross Profit | 2.12B | 2.07B | 1.93B | 1.82B | 1.4B | 1.51B | 1.25B | 1.58B | 1.71B | 1.68B | 1.63B | 1.84B | 1.8B | 1.7B | 1.65B | 1.73B | 1.59B | 847.9M | 1.12B | 1.33B | 1.27B | 1.27B | 1.22B | 1B | 810.8M | 654.8M | 786.1M | 996.1M | 914M | 706.5M |
| Gross Margin % | 19.3% | 19.18% | 18.55% | 17.39% | 15.79% | 18.36% | 16.74% | 18.53% | 19.72% | 16.18% | 16.16% | 20.11% | 19.52% | 19.36% | 19.91% | 20.99% | 22.2% | 16.56% | 17.37% | 19.66% | 20.45% | 20.44% | 19.88% | 18.92% | 18.25% | 16.41% | 19.1% | 26.13% | 26.2% | 25.79% |
| Gross Profit Growth % | - | 7.63% | 5.76% | 30.52% | -7.61% | 21.17% | -21.28% | -7.44% | 1.88% | 3.18% | -11.72% | 2.23% | 5.82% | 3.55% | -4.73% | 8.53% | 87.77% | -24.58% | -15.51% | 5.17% | -0.22% | 3.83% | 21.79% | 23.67% | 23.82% | -16.7% | -21.08% | 8.98% | 29.37% | - |
| Operating Expenses | 1.04B | 984M | 948M | 1.13B | 737M | 836M | 864M | 860M | 1.03B | 820.1M | 797M | 1.12B | 1.08B | 943.2M | 940.8M | 838.7M | 722.9M | 645.3M | 817.7M | 828.6M | 745.2M | 755.3M | 708.1M | 575.9M | 480M | 481.1M | 446.6M | 627.5M | 562.7M | 431.1M |
| OpEx % of Revenue | - | 9.1% | 9.12% | 10.8% | 8.34% | 10.16% | 11.6% | 10.06% | 11.81% | 7.9% | 7.91% | 12.17% | 11.7% | 10.71% | 11.38% | 10.19% | 10.08% | 12.6% | 12.63% | 12.24% | 12.04% | 12.17% | 11.53% | 10.86% | 10.8% | 12.05% | 10.85% | 16.46% | 16.13% | 15.74% |
| Selling, General & Admin | 587M | 571M | 530M | 500M | 440M | 432M | 389M | 399M | 390.3M | 406.6M | 394.4M | 411.5M | 414.9M | 389.9M | 366.7M | 368.7M | 327.2M | 299.8M | 354.3M | 359.8M | 325.5M | 331M | 307.4M | 273.2M | 219M | 196.7M | 190M | 176.8M | 158.5M | 131.9M |
| SG&A % of Revenue | - | 5.28% | 5.1% | 4.77% | 4.98% | 5.25% | 5.22% | 4.67% | 4.5% | 3.92% | 3.92% | 4.49% | 4.49% | 4.43% | 4.44% | 4.48% | 4.56% | 5.85% | 5.47% | 5.32% | 5.26% | 5.33% | 5% | 5.15% | 4.93% | 4.93% | 4.62% | 4.64% | 4.54% | 4.81% |
| Research & Development | 438M | 413M | 398M | 425M | 390M | 391M | 375.5M | 405.5M | 412.6M | 740.9M | 651M | 523.8M | 535.6M | 489.3M | 455.4M | 441.5M | 361.3M | 322.4M | 367.2M | 395.7M | 397.6M | 385.8M | 368.4M | 305.4M | 229.8M | 200.8M | 195.7M | 197.3M | 176.2M | 136.6M |
| R&D % of Revenue | - | 3.82% | 3.83% | 4.06% | 4.41% | 4.75% | 5.04% | 4.74% | 4.75% | 7.14% | 6.46% | 5.71% | 5.8% | 5.56% | 5.51% | 5.36% | 5.04% | 6.3% | 5.67% | 5.85% | 6.43% | 6.22% | 6% | 5.76% | 5.17% | 5.03% | 4.75% | 5.18% | 5.05% | 4.99% |
| Other Operating Expenses | 3M | 0 | 20M | 206M | -93M | 13M | 99M | 55M | 222.4M | 42.9M | 45.3M | 181M | 130.7M | 64M | 118.7M | 28.5M | 34.4M | 23.1M | 96.2M | 73.1M | 22.1M | 38.5M | 32.3M | -2.7M | 31.2M | 83.6M | 60.9M | 253.4M | 228M | 162.6M |
| Operating Income | 1.08B | 1.09B | 979M | 690M | 659M | 675M | 382M | 726M | 686M | 859.6M | 831M | 727.8M | 722.6M | 761.4M | 705.4M | 889.2M | 869.2M | 68.9M | 306.5M | 502M | 520M | 512.7M | 513.1M | 426.8M | 330.8M | 173.7M | 339.5M | 368.6M | 351.3M | 275.4M |
| Operating Margin % | 9.87% | 10.08% | 9.42% | 6.59% | 7.45% | 8.2% | 5.13% | 8.49% | 7.9% | 8.28% | 8.25% | 7.94% | 7.82% | 8.65% | 8.53% | 10.8% | 12.12% | 1.35% | 4.73% | 7.42% | 8.4% | 8.26% | 8.35% | 8.05% | 7.44% | 4.35% | 8.25% | 9.67% | 10.07% | 10.05% |
| Operating Income Growth % | - | 11.34% | 41.88% | 4.7% | -2.37% | 76.7% | -47.38% | 5.83% | -20.2% | 3.44% | 14.18% | 0.72% | -5.1% | 7.94% | -20.67% | 2.3% | 1161.54% | -77.52% | -38.94% | -3.46% | 1.42% | -0.08% | 20.22% | 29.02% | 90.44% | -48.84% | -7.89% | 4.92% | 27.56% | - |
| EBITDA | 1.5B | 1.5B | 1.37B | 1.07B | 1.02B | 1.07B | 753M | 1.08B | 1.08B | 1.29B | 1.21B | 1.05B | 1.03B | 1.05B | 978.6M | 1.16B | 1.15B | 383.2M | 653.4M | 822.8M | 822.6M | 821.6M | 811.4M | 705.6M | 579.3M | 477.9M | 608.5M | 622M | 579.3M | 438M |
| EBITDA Margin % | 13.69% | 13.84% | 13.15% | 10.2% | 11.56% | 12.99% | 10.11% | 12.6% | 12.48% | 12.38% | 12.05% | 11.42% | 11.12% | 11.9% | 11.84% | 14.06% | 16.05% | 7.48% | 10.09% | 12.16% | 13.29% | 13.24% | 13.21% | 13.31% | 13.04% | 11.97% | 14.78% | 16.32% | 16.61% | 15.99% |
| EBITDA Growth % | 5.54% | 9.59% | 27.9% | 4.5% | -4.4% | 41.97% | -30.08% | -0.56% | -15.74% | 5.88% | 15.96% | 1.84% | -1.85% | 7.03% | -15.46% | 0.57% | 200.34% | -41.35% | -20.59% | 0.02% | 0.12% | 1.26% | 14.99% | 21.8% | 21.22% | -21.46% | -2.17% | 7.37% | 32.26% | - |
| D&A (Non-Cash Add-back) | 419M | 407M | 387M | 378M | 363M | 394M | 371M | 351M | 397.1M | 425.8M | 383M | 319.1M | 305.4M | 286M | 273.2M | 268.3M | 281.7M | 314.3M | 346.9M | 320.8M | 302.6M | 308.9M | 298.3M | 278.8M | 248.5M | 304.2M | 269M | 253.4M | 228M | 162.6M |
| EBIT | 1.06B | 1.09B | 983M | 705M | 663M | 674M | 364M | 718M | 678.5M | 853.5M | 846.4M | 740.8M | 730.4M | 766.9M | 710.3M | 890.3M | 859.8M | 73.7M | 321.6M | 502M | 520M | 512.7M | 513.1M | 426.8M | 330.8M | 173.7M | 339.5M | 368.6M | 351.3M | 275.4M |
| Net Interest Income | -93M | -93M | -95M | -80M | -54M | -56M | -68M | -66M | -59.2M | -53.7M | -57.7M | -62.4M | -58.6M | -29M | -38.3M | -61.5M | -56.9M | -67.2M | -60.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 11M | 10M | 13M | 13M | 6M | 4M | 5M | 3.6M | 6.9M | 7.4M | 4.5M | 2.7M | 4.8M | 3.9M | 3.4M | 4.9M | 3.4M | 5.9M | 12.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 104M | 103M | 108M | 93M | 60M | 60M | 73M | 69.5M | 66.1M | 61.2M | 62.4M | 65.1M | 63.4M | 32.9M | 41.7M | 62M | 54.3M | 68.2M | 72.9M | 63.8M | 58.8M | 46.9M | 37.8M | 38.2M | 55.7M | 78.8M | 47.8M | 36.7M | 39.1M | 755.9M |
| Other Income/Expense | -129M | -104M | -104M | -78M | -56M | -61M | -91M | -77.6M | -73.6M | -67.2M | -46.8M | -52.1M | -55.6M | -27.4M | -36.8M | -60.9M | -63.7M | -63.4M | -57.8M | -55.8M | -38.6M | -30.7M | -28.6M | -38.2M | -55.7M | -66M | -53.6M | -36.7M | -39.1M | -755.9M |
| Pretax Income | 956M | 986M | 875M | 612M | 603M | 614M | 291.2M | 648.4M | 612.4M | 506.5M | 803.8M | 675.7M | 667M | 734M | 668.6M | 828.3M | 805.5M | 5.5M | 248.7M | 446.2M | 481.4M | 482M | 484.5M | 388.6M | 275.1M | 107.7M | 285.9M | 331.9M | 312.2M | -480.5M |
| Pretax Margin % | 8.7% | 9.12% | 8.42% | 5.84% | 6.82% | 7.46% | 3.91% | 7.59% | 7.06% | 4.88% | 7.98% | 7.37% | 7.22% | 8.34% | 8.09% | 10.06% | 11.23% | 0.11% | 3.84% | 6.59% | 7.78% | 7.77% | 7.89% | 7.33% | 6.19% | 2.7% | 6.95% | 8.71% | 8.95% | -17.54% |
| Income Tax | 246M | 250M | 227M | 123M | 178M | 177M | 103M | 186M | 234.9M | 204.4M | 224.3M | 218.2M | 198M | 244.1M | 183M | 201.3M | 210M | -7.1M | 76.3M | 150.3M | 58.9M | 173.2M | 149M | 120.2M | 94.6M | 59.8M | 117.2M | 132M | 123.9M | 99.1M |
| Effective Tax Rate % | 25.73% | 25.35% | 25.94% | 20.1% | 29.52% | 28.83% | 35.37% | 28.69% | 38.36% | 40.36% | 27.9% | 32.29% | 29.69% | 33.26% | 27.37% | 24.3% | 26.07% | -129.09% | 30.68% | 33.68% | 12.24% | 35.93% | 30.75% | 30.93% | 34.39% | 55.52% | 40.99% | 39.77% | 39.69% | -20.62% |
| Net Income | 710M | 735M | 646M | 488M | 423M | 435M | 187M | 461.5M | 190.4M | 427.1M | 567.1M | 456.8M | 467.8M | 485.8M | 483.1M | 623.4M | 590.6M | 10M | 164.7M | 287.9M | 402.3M | 292.6M | 326.3M | 268.4M | 180.5M | 47.9M | 168.7M | 199.9M | 188.3M | -579.6M |
| Net Margin % | 6.46% | 6.8% | 6.22% | 4.66% | 4.78% | 5.29% | 2.51% | 5.4% | 2.19% | 4.11% | 5.63% | 4.98% | 5.06% | 5.52% | 5.84% | 7.57% | 8.24% | 0.2% | 2.54% | 4.25% | 6.5% | 4.72% | 5.31% | 5.06% | 4.06% | 1.2% | 4.1% | 5.24% | 5.4% | -21.16% |
| Net Income Growth % | 3.5% | 13.78% | 32.38% | 15.37% | -2.76% | 132.62% | -59.48% | 142.38% | -55.42% | -24.69% | 24.15% | -2.35% | -3.71% | 0.56% | -22.51% | 5.55% | 5806% | -93.93% | -42.79% | -28.44% | 37.49% | -10.33% | 21.57% | 48.7% | 276.83% | -71.61% | -15.61% | 6.16% | 132.49% | - |
| Net Income (Continuing) | 710M | 736M | 648M | 489M | 425M | 437M | 188M | 462M | 377.5M | 588M | 559.9M | 457.5M | 469M | 489.9M | 485.6M | 627M | 595.5M | 12.6M | 172.4M | 287.9M | 402.3M | 292.6M | 326.3M | 268.4M | 180.5M | 47.9M | 168.7M | 199.9M | 188.3M | -579.6M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 10M | 10M | 10M | 13M | 13M | 15M | 14.2M | 13.2M | 13.1M | 134.3M | 249.2M | 12.5M | 15M | 19.1M | 17.5M | 15.6M | 11.9M | 47.8M | 57.3M | 52.2M | 85.1M | 65.7M | 58.8M | 40.9M | 41.1M | 26.8M | 22M | 9M | 14.6M | 14.4M |
| EPS (Diluted) | 9.45 | 9.56 | 8.03 | 5.73 | 4.85 | 4.96 | 2.14 | 5.28 | 2.18 | 4.87 | 6.42 | 5.17 | 5.06 | 5.07 | 5.08 | 6.65 | 6.39 | 0.12 | 2.28 | 3.68 | 4.88 | 3.26 | 3.46 | 2.81 | 1.84 | 0.49 | 1.67 | 1.95 | 1.84 | -5.67 |
| EPS Growth % | 7.13% | 19.05% | 40.14% | 18.14% | -2.22% | 131.78% | -59.47% | 142.2% | -55.24% | -24.14% | 24.18% | 2.17% | -0.2% | -0.2% | -23.61% | 4.07% | 5225% | -94.74% | -38.04% | -24.59% | 49.69% | -5.78% | 23.13% | 52.72% | 275.51% | -70.66% | -14.36% | 5.98% | 132.45% | - |
| EPS (Basic) | - | 9.60 | 8.05 | 5.74 | 4.86 | 4.97 | 2.14 | 5.29 | 2.19 | 4.88 | 6.43 | 5.18 | 5.08 | 5.09 | 5.17 | 6.99 | 6.77 | 0.12 | 2.29 | 3.70 | 4.90 | 3.28 | 3.49 | 2.81 | 1.84 | 0.49 | 1.67 | 1.95 | 1.84 | -6.70 |
| Diluted Shares Outstanding | 75.1M | 76.9M | 80.4M | 85.2M | 87.2M | 87.7M | 87.5M | 87.4M | 87.3M | 87.7M | 88.4M | 88.4M | 92.4M | 95.9M | 95.1M | 93.7M | 92.4M | 84.5M | 72.1M | 78.3M | 82.5M | 89.7M | 94.2M | 95.4M | 98M | 98M | 100.9M | 102.4M | 102.3M | 102.2M |
| Basic Shares Outstanding | 74.8M | 76.6M | 80.2M | 85M | 87.1M | 87.5M | 87.3M | 87.2M | 87.1M | 87.5M | 88.2M | 88.2M | 92.1M | 95.5M | 93.5M | 89.2M | 87.3M | 81.5M | 71.8M | 77.9M | 82.1M | 89.1M | 93.6M | 94.9M | 98M | 98M | 100.9M | 102.4M | 102.3M | 86.5M |
| Dividend Payout Ratio | - | 32.38% | 33.9% | 46.11% | 52.96% | 37.93% | 28.93% | 47.02% | 112.55% | 48.86% | 35.76% | 42.84% | 41.66% | 39.32% | 36.76% | 24.75% | 9.77% | 148% | 69.95% | 41.89% | 27.86% | 35.78% | 21.54% | 19.11% | 23.77% | 89.77% | 26.67% | 22.51% | 23.9% | - |
OEM Pricing Pressure
As reported in recent financial statements, Autoliv's revenue growth has exhibited a mixed trajectory, fluctuating between a 6.8% increase in 2026Q1 and a 4.9% contraction in 2024Q4, reflecting the inherent volatility of global light vehicle production cycles and regional demand shifts in key markets.
The inconsistent top-line performance suggests that the company remains highly susceptible to the production schedules of its primary OEM customers. While the company has managed to maintain a presence in critical growth regions, the lack of sustained, accelerating revenue growth indicates that volume gains are frequently offset by broader automotive industry stagnation.
Based on the provided income statement data, Autoliv's gross margins have remained range-bound between 16.9% and 21.0% over the last ten quarters, highlighting the persistent impact of contractual price-down clauses that limit the company's ability to capture significant upside from operational efficiencies.
These margin levels appear to be structurally capped by the competitive nature of the passive safety market and the aggressive pricing demands of OEMs. Investors should monitor whether the company can successfully shift its product mix toward higher-value integrated safety systems to break out of this narrow profitability band.
According to quarterly filings, Autoliv's operating margins have fluctuated significantly from a low of 7.4% in 2024Q1 to a peak of 13.5% in 2024Q4, suggesting that the company struggles to achieve consistent operating leverage despite its dominant market position in the passive safety sector.
The volatility in operating income relative to gross profit implies that SG&A and R&D expenses are not scaling linearly with revenue, potentially due to the lumpy nature of project-based launches. This lack of consistent operating leverage warrants further investigation into the efficacy of management's ongoing structural cost-reduction initiatives.
Analysis of the income statement reveals that Autoliv's R&D and SG&A spending patterns are inconsistent, with R&D costs ranging from $73 million to $120 million per quarter, indicating that management's expense discipline is frequently adjusted in response to short-term revenue pressures rather than long-term strategic investment.
The variability in these discretionary costs suggests that the company may be utilizing expense management as a lever to stabilize earnings during periods of revenue weakness. Such tactical adjustments may provide temporary relief to the bottom line but could potentially undermine the company's long-term competitive advantage in safety-critical innovation.
As indicated by the recent 2026Q1 performance, where net margins compressed to 5.2% from 8.0% in the prior quarter, there is a clear risk that Autoliv's profitability is vulnerable to rising input costs and the inability to fully pass these expenses through to OEMs.
Short-sellers would likely focus on the company's inability to maintain margin stability, arguing that the structural headwinds in the automotive supply chain are becoming increasingly difficult to mitigate. The reliance on retroactive price adjustments to recover inflationary costs suggests that the company's pricing power may be weaker than its market share would otherwise imply.
Quick answers to the most common questions about buying ALV stock.
For fiscal year 2025, Autoliv, Inc. (ALV) reported total revenue of $10.81B. This represents a 294.8% increase compared to $2.74B in 1997.
Autoliv, Inc. (ALV) is profitable, generating $735.0M in net income for the fiscal year ending 2025 with a net profit margin of 6.8%.
Autoliv, Inc. (ALV) reported an operating income of $1.09B, resulting in an operating profit margin of 10.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Autoliv, Inc. (ALV) generated $2.07B in gross profit for the year, representing a gross profit margin of 19.2%. This demonstrates the company's core pricing power and production efficiency.