Cash generation remains highly erratic, evidenced by an OCF/NI ratio of 2.08 in 2026Q1 and a capital expenditure profile that consumed 3.5% of revenue during the same period.
| 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 |
|---|
| Cash from Operations | -69.07B | 64.44M | 76.37M | 117.28M | -36.15M | -115.51M | -15.93M | 97.7M | 149.39M | 313.48M | 363.7M | 270.38M | 171.05M | 133.26M | 84.4M | 172.34M | 95.2M | 129.98M | 136.49M | 185.37M | 135.88M | 112.95M |
| Operating CF Margin % | - | 2.35% | 2.8% | 4.16% | -1.43% | -4.96% | -0.67% | 3.14% | 4.12% | 8.67% | 10.47% | 8.09% | 5.27% | 4.31% | 2.93% | 6.04% | 3.94% | 6.68% | 5.26% | 7.38% | 6.28% | 6.18% |
| Operating CF Growth % | -465554.35% | -15.62% | -34.88% | 424.42% | 68.7% | -624.93% | -116.31% | -34.6% | -52.35% | -13.81% | 34.51% | 58.07% | 28.36% | 57.89% | -51.03% | 81.03% | -26.76% | -4.77% | -26.37% | 36.42% | 20.3% | - |
| Net Income | -33.31B | -746M | -78.13M | -203.32M | -217.79M | -328.84M | -269.37M | 62.21M | 104.59M | 138.57M | 140.44M | 111.77M | 45.47M | 45.25M | 98.82M | 76.5M | 320.3M | -356.19M | -121.45M | -150.99M | -8.42M | 8.81M |
| Depreciation & Amortization | 23.09B | 97.97B | 103.56M | 109.93M | 122.48M | 139.01M | 154.23M | 151.95M | 146.7M | 138.09M | 122.66M | 114.43M | 112.58M | 111.03M | 122.73M | 124.07M | 102.3M | 113.78M | 140.1M | 136.05M | 138.43M | 111.2M |
| Stock-Based Compensation | 2.62B | 15.25B | 9.16M | 7.72M | 3.26M | 5.57M | 10.44M | 11.87M | 8.52M | 24.96M | 24.03M | 13.96M | 12.59M | 11.58M | 15.31M | 12.1M | 1.36M | 0 | 0 | 1.55M | 0 | 0 |
| Deferred Taxes | 997.95M | -35.12B | -45.47M | -5.81M | 5.65M | 35.76M | -8.72M | 15.87M | -40.72M | 11.08M | 9.08M | -2.7M | 8.82M | 27.48M | -41.39M | -525K | 23.3M | -36.8M | 14.04M | 4.44M | -32.51M | -24.53M |
| Other Non-Cash Items | -62.55B | -77.28B | 54.39M | 164.77M | 14.56M | 34.29M | 113.79M | -148.97M | 80.18M | 16.93M | 3.11M | -3.66M | 34.73M | -2.82M | 8.8M | -9.79M | -372.91M | 18.64M | -112.42M | 151.88M | 8.97M | 122K |
| Working Capital Changes | 33.38M | -14.03M | 32.85M | 43.99M | 35.69M | -1.29M | -16.29M | 4.76M | -149.87M | -16.15M | 64.37M | 36.59M | -43.13M | -59.26M | -119.87M | -30.02M | 21.97M | 25.87M | 58.23M | 42.45M | 15.17M | 13.64M |
| Change in Receivables | 0 | -11.56M | 67.76B | -9.73M | 2.54M | 52.68M | 94.13M | -30.15M | 17.92M | -26.43M | -579K | -72.55M | -17.93M | -49.79M | -61.73M | -27.25M | -33.55M | 14.89M | 144.92M | -31.75M | 12.17M | -30.12M |
| Change in Inventory | 0 | -4.36M | -3.13B | 6.41M | -2.22M | -18.53M | -15.24M | 29.43M | 1.41M | -13.93M | 6.65M | 12.85M | 888K | -31.82M | -2.24M | -4.64M | -11.82M | 9.91M | 28.06M | 14.84M | 16.9M | 11.87M |
| Change in Payables | 0 | 21.62M | -18.44B | 6.74M | 20.59M | -25.5M | -18.37M | -14.64M | -32.5M | 11.41M | 70.07M | 61.06M | -11.46M | 58.37M | 14.58M | 54.88M | -59.18M | 50.08M | -86.32M | 39.95M | -30.63M | 33.45M |
| Cash from Investing | -24.07B | -45.63M | -45.12M | -64.97M | -17.89M | -91.26M | -106.88M | 84.03M | -382.99M | -200.62M | -198.27M | -166.39M | -157.4M | -191.08M | -117.57M | -73.75M | -70.9M | -45.47M | -73.86M | -260.02M | -281.75M | -132.97M |
| Capital Expenditures | -24.07B | -48.19B | -50.5M | -80.74M | -71.15M | -96.11M | -91.79M | -164.47M | -218.07M | -186.79M | -164.37M | -166.27M | -192.09M | -183.34M | -131.07M | -108.34M | -22.93M | -46.11M | -92.13M | -107.25M | -82.87M | -54.48M |
| CapEx % of Revenue | 3.5% | 1758.25% | 1.85% | 2.87% | 2.82% | 4.12% | 3.86% | 5.29% | 6.02% | 5.16% | 4.73% | 4.97% | 5.92% | 5.93% | 4.55% | 3.8% | 0.95% | 2.37% | 3.55% | 4.27% | 3.83% | 2.98% |
| Acquisitions | 0 | 0 | 0 | 15.35M | 0 | -1.43M | -17.01M | 242.91M | -171.65M | -478K | -34.08M | -5.2M | 30.34M | -11.38M | -1.08M | 44.49M | 0 | 0 | 4.94M | -158.67M | -205.74M | -79.45M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 4.17M | 48.15B | 5.38M | 424K | 53.26M | 6.28M | 1.92M | 5.59M | 6.73M | -13.35M | 185K | -161.2M | -187.73M | 3.64M | 14.58M | 599K | -47.97M | 642K | 13.33M | 5.91M | -889K | 967K |
| Cash from Financing | 16.44B | -3.97M | -9.64M | -81.14M | -4.27M | 3.21M | 207.72M | -83.99M | -14.44M | -75.53M | -62.92M | -11.59M | 49.41M | -23.05M | -58.08M | -24.58M | -114M | 166.07M | 14.07M | 55.05M | 147.63M | -7.15M |
| Debt Issued (Net) | 17.91M | -2.24M | -9.75M | -6.11M | -85K | 9.4M | 216.44M | -44.9M | -3.44M | -9.18M | -27.11M | -8.71M | 64.52M | 197.01M | -5.54M | -9.86M | -465.88M | 165.82M | 15.17M | 28.6M | 154.09M | -10.34M |
| Equity Issued (Net) | -50K | 0 | -612K | -214K | -607K | -799K | -544K | -36.55M | -59.95M | -55.12M | -36.42M | 9.28M | -5.16M | -223.53M | -43.73M | -7.47M | 355M | 88K | -540K | 30M | 300K | 4.61M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4.75M | -6.78M | -7.12M | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -50K | 0 | -612K | -214K | -607K | -799K | -544K | -36.55M | -59.95M | -55.12M | -23.8M | 0 | -5.16M | -217.55M | -43.73M | -7.47M | 0 | 0 | -540K | 0 | 0 | 0 |
| Other Financing | 16.42B | -1.73M | 719K | -74.81M | -3.57M | -5.39M | -8.18M | -2.54M | 48.95M | -11.22M | 614K | -12.15M | -9.94M | 8.22M | -2.02M | -136K | 48K | 171K | -561K | -3.55M | -6.76M | -1.42M |
| Net Change in Cash | -77.4B | 20.66M | 15.64M | -29.75M | -58.32M | -192.45M | 81.84M | 94.34M | -251.06M | 35.86M | 101.85M | 110.97M | 82.9M | -86.19M | -91.19M | 67.3M | -85.8M | 268.73M | 70.64M | -15.45M | -5.88M | -21.45M |
| Free Cash Flow | -93.15B | 16.25M | 25.87M | 36.53M | -107.3M | -211.62M | -107.73M | -66.77M | -68.68M | 126.69M | 199.33M | 104.12M | -21.04M | -50.08M | -46.67M | 64M | 72.27M | 83.87M | 44.37M | 78.12M | 53.01M | 58.47M |
| FCF Margin % | -13.53% | 0.59% | 0.95% | 1.3% | -4.25% | -9.08% | -4.54% | -2.15% | -1.9% | 3.5% | 5.74% | 3.11% | -0.65% | -1.62% | -1.62% | 2.24% | 2.99% | 4.31% | 1.71% | 3.11% | 2.45% | 3.2% |
| FCF Growth % | -403208.82% | -37.19% | -29.19% | 134.05% | 49.3% | -96.44% | -61.34% | 2.79% | -154.21% | -36.44% | 91.45% | 594.86% | 57.99% | -7.31% | -172.92% | -11.44% | -13.84% | 89.03% | -43.2% | 47.37% | -9.34% | - |
| FCF per Share | -5183.44 | 0.91 | 1.47 | 2.11 | -6.24 | -12.41 | -6.37 | -3.88 | -3.76 | 6.75 | 10.64 | 5.65 | -1.18 | -3.18 | -2.52 | 3.34 | 3.89 | 4.56 | 2.41 | 4.25 | 2.88 | 3.18 |
| FCF Conversion (FCF/Net Income) | 2.80x | -15.47x | -0.97x | -0.58x | 0.17x | 0.36x | 0.06x | 1.45x | 1.44x | 2.27x | 2.62x | 2.42x | 4.00x | 2.78x | 0.82x | 1.68x | 0.29x | -0.37x | -1.12x | -1.23x | -16.14x | 12.82x |
| Interest Paid | 0 | 0 | 101.51M | 78.7M | 80.16M | 73.22M | 55.69M | 47.58M | 44.88M | 47.42M | 38.55M | 39.19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 19.09M | 10.3M | 0 | 6.74M | 1.68M | 23.6M | 32.3M | 36.88M | 38.33M | 55.55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
High Operating Leverage Sensitivity
As reported in financial statements, the relationship between net income and operating cash flow is erratic, with the OCF/NI ratio reaching an extreme 2.08 in 2026Q1, suggesting that reported earnings are frequently decoupled from the actual cash-generating capacity of the underlying manufacturing operations.
The significant divergence between net income and operating cash flow indicates that non-cash charges and working capital swings are masking the true economic performance of the business. Investors should monitor this disconnect, as it implies that the company's accounting earnings may not be a reliable proxy for its ability to fund operations internally.
Based on recent quarterly filings, Cooper-Standard's free cash flow trajectory is highly inconsistent, swinging from a positive 9.6% margin in 2024Q4 to a negative 13.6% margin in 2026Q1, highlighting the company's struggle to maintain positive cash generation amidst fluctuating automotive production cycles.
The inability to sustain positive free cash flow suggests that the company's current business model is highly sensitive to volume shifts. This volatility warrants further investigation into whether the company can achieve a stable cash-flow profile without significant structural changes to its cost base.
According to the provided cash flow data, Cooper-Standard maintains a consistent capital expenditure profile, with CapEx/Revenue ratios peaking at 3.5% in 2026Q1, which places continuous pressure on the company's limited liquidity during periods of weak operational performance.
While the capital intensity appears necessary to maintain the global manufacturing footprint, the persistent spending during periods of negative net income suggests a lack of flexibility in capital allocation. This rigid cost structure may limit the company's ability to pivot toward higher-margin EV thermal management opportunities.
As evidenced by the quarterly cash flow data, working capital changes are a primary driver of cash flow variance, with a notable $88.3 million outflow in 2026Q1, indicating that the company's cash position is highly susceptible to the timing of inventory and receivables management.
The reliance on working capital management to bridge cash flow gaps suggests that the company is operating with very little margin for error. Investors should monitor the efficiency of these cycles, as any disruption in OEM payment terms or inventory turnover could rapidly exacerbate the company's liquidity risks.
Quick answers to the most common questions about buying CPS stock.
Cooper-Standard Holdings Inc. (CPS) generated $64.4M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Cooper-Standard Holdings Inc. (CPS) generated $16.3M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Cooper-Standard Holdings Inc. (CPS) spent $48.19B on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.