Financial leverage has increased significantly, with total debt rising to $9.7 billion in 2026Q1 from $6.8 billion in 2023Q4, resulting in a debt-to-equity ratio of 1.04.
| 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 |
|---|
| Total Current Assets | 10.72B | 8.74B | 7.83B | 8.25B | 7.78B | 8.44B | 7.46B | 5.32B | 4.78B | 5.64B | 5.42B | 5.12B | 5.22B | 5.75B | 5.23B | 5.5B | 7.67B |
| Cash & Short-Term Investments | 3.17B | 1.85B | 1.57B | 1.64B | 1.53B | 3.14B | 2.82B | 412M | 567M | 1.6B | 838M | 535M | 904M | 1.39B | 1.1B | 1.36B | 3.77B |
| Cash Only | 3.17B | 1.85B | 1.57B | 1.64B | 1.53B | 3.14B | 2.82B | 412M | 567M | 1.6B | 838M | 535M | 904M | 1.39B | 1.1B | 1.36B | 3.77B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 3.8B | 3.83B | 3.62B | 3.87B | 3.67B | 3.03B | 3.02B | 2.83B | 2.79B | 2.79B | 2.31B | 3.02B | 2.65B | 2.94B | 2.69B | 2.75B | 2.31B |
| Days Sales Outstanding | 69.77 | 68.57 | 67.06 | 70.45 | 76.64 | 70.86 | 84.25 | 71.92 | 70.5 | 78.9 | 50.52 | 72.61 | 56.88 | 65.2 | 63.22 | 62.46 | 60.94 |
| Inventory | 2.75B | 2.56B | 2.32B | 2.37B | 2.34B | 2.01B | 1.3B | 1.29B | 1.28B | 1.08B | 859M | 1.18B | 1.01B | 1.09B | 1.07B | 1.05B | 988M |
| Days Inventory Outstanding | 56.72 | 56.65 | 52.32 | 50.88 | 56.96 | 55.4 | 42.07 | 39.61 | 39.3 | 38.08 | 35.58 | 35.54 | 29.46 | 29.18 | 30.06 | 28.47 | 30.46 |
| Other Current Assets | 1B | 358M | 212M | 275M | 159M | 182M | 279M | 700M | 69M | 65M | 1.45B | 302M | 632M | 261M | 267M | 258M | 602M |
| Total Non-Current Assets | 3.76B | 14.67B | 15.63B | 16.18B | 14.1B | 9.57B | 10.06B | 8.14B | 7.7B | 6.53B | 6.87B | 6.85B | 5.5B | 5.29B | 4.95B | 3.63B | 3.42B |
| Property, Plant & Equipment | 4.19B | 4.28B | 4.19B | 4.33B | 3.95B | 3.68B | 3.68B | 3.72B | 3.18B | 2.8B | 3.52B | 3.38B | 3.34B | 3.22B | 2.86B | 2.31B | 2.07B |
| Fixed Asset Turnover | 4.88x | 4.77x | 4.70x | 4.64x | 4.43x | 4.25x | 3.55x | 3.86x | 4.54x | 4.59x | 4.74x | 4.49x | 5.09x | 5.12x | 5.43x | 6.93x | 6.68x |
| Goodwill | 4.55B | 4.6B | 5.02B | 5.15B | 5.12B | 2.51B | 2.58B | 2.41B | 2.52B | 1.94B | 1.51B | 1.54B | 656M | 496M | 473M | 0 | 0 |
| Intangible Assets | 1.94B | 2B | 2.14B | 2.4B | 2.58B | 964M | 1.09B | 1.19B | 1.38B | 1.22B | 1.24B | 1.38B | 746M | 723M | 803M | 596M | 2.31B |
| Long-Term Investments | 5.86B | 1.5B | 1.61B | 1.51B | 1.81B | 1.89B | 2.12B | 207M | 171M | 147M | 73M | 117M | 98M | 234M | 231M | 257M | 281M |
| Other Non-Current Assets | -8.33B | 469M | 383M | 446M | 380M | 367M | 407M | 454M | 306M | 229M | 1.7B | 198M | 762M | 343M | 301M | 255M | 403M |
| Total Assets | 14.48B | 23.41B | 23.46B | 24.43B | 21.88B | 18.01B | 17.52B | 13.46B | 12.48B | 12.17B | 12.29B | 11.97B | 10.72B | 11.05B | 10.18B | 9.13B | 11.08B |
| Asset Turnover | 0.97x | 0.87x | 0.84x | 0.82x | 0.80x | 0.87x | 0.75x | 1.07x | 1.16x | 1.06x | 1.36x | 1.27x | 1.59x | 1.49x | 1.53x | 1.76x | 1.25x |
| Asset Growth % | -45.89% | -0.19% | -3.97% | 11.62% | 21.53% | 2.77% | 30.19% | 7.84% | 2.56% | -1% | 2.66% | 11.68% | -2.95% | 8.56% | 11.48% | -17.63% | - |
| Total Current Liabilities | 5.07B | 5.04B | 5.13B | 4.81B | 4.87B | 4.21B | 4.05B | 4.05B | 3.69B | 3.54B | 4.15B | 3.93B | 3.89B | 3.89B | 3.66B | 3.71B | 3.72B |
| Accounts Payable | 3.2B | 3.16B | 2.87B | 3.15B | 3.15B | 2.95B | 2.57B | 2.46B | 2.33B | 2.23B | 1.82B | 2.54B | 2.28B | 2.6B | 2.28B | 2.4B | 2.24B |
| Days Payables Outstanding | 68.44 | 69.84 | 64.72 | 67.79 | 76.68 | 81.23 | 83.39 | 75.86 | 71.83 | 78.31 | 75.38 | 76.46 | 66.24 | 69.28 | 64.24 | 64.75 | 68.94 |
| Short-Term Debt | 102M | 81M | 509M | 9M | 25M | 8M | 90M | 393M | 306M | 17M | 10M | 52M | 34M | 61M | 140M | 107M | 218M |
| Deferred Revenue (Current) | 445M | 174M | 243M | 184M | 172M | 83M | 62M | 43M | 36M | 28M | 22M | 36M | 34M | 38M | 35M | 20M | 0 |
| Other Current Liabilities | 1.76B | 155M | 219M | 137M | 180M | 96M | 92M | 179M | 146M | 132M | 1.5B | 328M | 555M | 147M | 167M | 216M | 617M |
| Current Ratio | 2.11x | 1.74x | 1.53x | 1.72x | 1.60x | 2.01x | 1.85x | 1.31x | 1.29x | 1.59x | 1.31x | 1.30x | 1.34x | 1.48x | 1.43x | 1.48x | 2.06x |
| Quick Ratio | 1.57x | 1.23x | 1.07x | 1.22x | 1.12x | 1.53x | 1.52x | 0.99x | 0.95x | 1.29x | 1.10x | 1.00x | 1.08x | 1.20x | 1.14x | 1.20x | 1.80x |
| Cash Conversion Cycle | 58.05 | 55.39 | 54.66 | 53.54 | 56.92 | 45.03 | 42.93 | 35.67 | 37.97 | 38.67 | 10.72 | 31.69 | 20.1 | 25.11 | 29.04 | 26.18 | 22.46 |
| Total Non-Current Liabilities | 5.54B | 8.88B | 9.24B | 7.78B | 7.92B | 5.24B | 5.38B | 5.39B | 5.12B | 5.11B | 5.38B | 5.31B | 3.82B | 3.72B | 3.69B | 3.25B | 1.26B |
| Long-Term Debt | 9.64B | 7.47B | 7.84B | 6.2B | 6.45B | 4.06B | 4.01B | 3.97B | 4.04B | 4.13B | 3.95B | 3.96B | 2.39B | 2.35B | 2.32B | 2B | 0 |
| Capital Lease Obligations | 1.23B | 401M | 412M | 453M | 373M | 304M | 300M | 329M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 857M | 260M | 290M | 394M | 481M | 153M | 207M | 229M | 233M | 222M | 143M | 252M | 162M | 151M | 185M | 134M | 0 |
| Other Non-Current Liabilities | 5.15B | 740M | 684M | 708M | 614M | 723M | 858M | 865M | 845M | 758M | 1.28B | 1.1B | 1.26B | 1.22B | 1.18B | 1.11B | 1.26B |
| Total Liabilities | 10.61B | 13.91B | 14.37B | 12.58B | 12.79B | 9.45B | 9.42B | 9.45B | 8.81B | 8.65B | 9.53B | 9.24B | 7.71B | 7.61B | 7.35B | 6.96B | 4.98B |
| Total Debt | 9.74B | 8.09B | 8.89B | 6.79B | 6.96B | 4.46B | 4.5B | 4.79B | 4.34B | 4.15B | 3.96B | 4.01B | 2.43B | 2.41B | 2.46B | 2.1B | 218M |
| Net Debt | 6.57B | 6.24B | 7.32B | 5.15B | 5.43B | 1.32B | 1.68B | 4.38B | 3.78B | 2.55B | 3.23B | 3.47B | 1.57B | 1.02B | 1.36B | 740M | -3.55B |
| Debt / Equity | 1.04x | 0.85x | 0.98x | 0.57x | 0.77x | 0.52x | 0.56x | 1.19x | 1.18x | 1.18x | 1.43x | 1.47x | 0.81x | 0.70x | 0.87x | 0.97x | 0.04x |
| Debt / EBITDA | 5.32x | 3.72x | 2.94x | 2.65x | 3.29x | 2.18x | 2.81x | 2.23x | 1.92x | 1.99x | 1.79x | 1.57x | 0.97x | 1.02x | 1.15x | 1.00x | 0.14x |
| Net Debt / EBITDA | 3.59x | 2.87x | 2.42x | 2.01x | 2.56x | 0.65x | 1.05x | 2.04x | 1.67x | 1.22x | 1.45x | 1.36x | 0.63x | 0.43x | 0.64x | 0.35x | -2.24x |
| Interest Coverage | 6.55x | 3.44x | 7.38x | 5.69x | 5.52x | 7.07x | 12.91x | 7.87x | 10.46x | 9.96x | 7.45x | 9.04x | 12.96x | 11.25x | 10.89x | 13.24x | 32.47x |
| Total Equity | 9.33B | 9.5B | 9.09B | 11.84B | 9.09B | 8.56B | 8.1B | 4.01B | 3.67B | 3.52B | 2.76B | 2.73B | 3.01B | 3.43B | 2.83B | 2.17B | 6.1B |
| Equity Growth % | -5.87% | 4.56% | -23.29% | 30.24% | 6.23% | 5.69% | 101.94% | 9.29% | 4.35% | 27.29% | 1.1% | -9.29% | -12.26% | 21.34% | 30.35% | -64.4% | - |
| Book Value per Share | 43.65 | 43.03 | 35.40 | 41.87 | 33.53 | 31.56 | 29.92 | 15.58 | 13.84 | 13.12 | 10.09 | 9.53 | 9.98 | 11.01 | 8.75 | 5.15 | 13.48 |
| Total Shareholders' Equity | 9.23B | 9.21B | 8.8B | 11.55B | 8.83B | 8.35B | 7.91B | 3.82B | 3.46B | 3.3B | 2.4B | 2.25B | 2.51B | 2.91B | 2.35B | 1.69B | 5.64B |
| Common Stock | 2M | 2M | 2M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 5.55B |
| Retained Earnings | 6.35B | 6.23B | 7B | 8.16B | 5.61B | 5.08B | 4.55B | 2.89B | 2.51B | 2.12B | 1.98B | 1.63B | 1.55B | 1.45B | 856M | 110M | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -719M | -641M | -1.17B | -645M | -791M | -672M | -545M | -719M | -694M | -471M | -1.22B | -1.03B | -741M | -237M | -237M | -183M | 91M |
| Minority Interest | 99M | 292M | 289M | 296M | 285M | 214M | 195M | 192M | 211M | 218M | 362M | 483M | 503M | 523M | 485M | 483M | 458M |
Leverage and JV exposure
According to recent quarterly filings, Aptiv's total assets have contracted from a peak of $24.8 billion in 2024Q3 to $14.5 billion by 2026Q1, signaling a significant shift in the company's capital base that warrants close monitoring by investors concerned with long-term asset quality and structural stability.
The sharp reduction in total assets alongside a simultaneous increase in total debt suggests a potential deterioration in the company's financial flexibility. This trajectory indicates that the firm may be struggling to maintain its asset base while navigating the capital-intensive requirements of its autonomous driving and software-defined vehicle initiatives.
As reported in financial statements, Aptiv's total debt has climbed to $9.7 billion in 2026Q1 from $6.8 billion in 2023Q4, pushing the debt-to-equity ratio to 1.04 and suggesting that the company is increasingly relying on external financing to fund its ongoing operational and strategic investment requirements.
The upward trend in leverage appears to be a response to the persistent cash demands of the Motional joint venture and other R&D-heavy projects. Investors should consider whether this debt accumulation is sustainable given the company's historically thin net margins and the cyclical nature of its automotive end-markets.
Based on reported figures, Aptiv's current ratio has fluctuated significantly, reaching 2.11 in 2026Q1, yet this headline improvement masks a volatile cash position that dropped to $1.1 billion in 2025Q1 before recovering to $3.2 billion, highlighting the company's sensitivity to working capital cycles and external funding needs.
While the current ratio appears healthy, the underlying cash volatility suggests that the company's liquidity is highly dependent on timing-sensitive working capital management. This reliance on short-term fluctuations may leave the firm vulnerable to sudden shocks in OEM production schedules or unexpected capital calls from its joint ventures.
Data from recent balance sheets indicates that retained earnings have declined from a peak of $8.4 billion in 2024Q2 to $6.4 billion in 2026Q1, reflecting the impact of persistent net losses and aggressive capital allocation strategies that may be eroding the company's long-term shareholder equity base.
The erosion of retained earnings suggests that the company's recent profitability has been insufficient to support both its ambitious R&D spending and its historical commitment to share repurchases. This trend warrants further investigation into whether the current capital allocation strategy is creating genuine value or merely masking operational weaknesses.
As disclosed in recent SEC filings, Aptiv carries $4.5 billion in goodwill, representing a substantial portion of its equity base, which may be susceptible to impairment if the anticipated synergies from software-defined vehicle acquisitions fail to materialize in the current high-interest rate and cyclical automotive environment.
The significant goodwill balance, combined with the opaque financial impact of the Motional joint venture, creates a risk that headline equity figures may overstate the company's tangible net worth. Investors should be wary of potential write-downs that could further pressure the balance sheet if the company's strategic pivot does not yield expected returns.
Quick answers to the most common questions about buying APTV stock.
As of 2025, Aptiv PLC (APTV) had total assets of $23.41B including $8.74B in current assets.
Aptiv PLC (APTV) carries total debt of $8.09B, offset by $1.85B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Aptiv PLC (APTV) has total shareholders' equity (book value) of $9.21B ($43.03 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Aptiv PLC (APTV) reported a current ratio of 1.74x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.