The Goodyear Tire & Rubber Company (GT) 10-Year Financial Performance & Capital Metrics

GT • • Industrial / General

Consumer CyclicalAuto Parts & EquipmentAftermarket Parts & RetailReplacement Parts Manufacturers

AboutThe Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving equipment, and mining and industrial equipment under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands. The company also retreads truck, aviation, and off-the-road tires; manufactures and sells tread rubber and other tire retreading materials; sells chemical and natural rubber products; and provides automotive and commercial truck maintenance and repair services, and miscellaneous other products and services. It operates approximately 1,000 retail outlets, which offer products for retail sale, and provides repair and other services. The company sells its products worldwide through a network of independent dealers, regional distributors, retail outlets, and retailers. The Goodyear Tire & Rubber Company was incorporated in 1898 and is headquartered in Akron, Ohio.Show more

Revenue $18.88B -5.9%
EBITDA $1.97B +16.1%
Net Income $70M +110.2%
EPS (Diluted) 0.24 +109.9%
Gross Margin 19.61% +12.1%
EBITDA Margin 10.43% +23.4%
Operating Margin 4.87% +40.7%
Net Margin 0.37% +110.8%
ROE 1.44% +110.7%
ROIC 5.42% +33.8%
Debt/Equity 1.79 +0.2%
Interest Coverage 1.58 +20.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.5x book value

✗Weaknesses

✗Negative free cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.4%

5Y5.07%

3Y2.6%

TTM-3.87%

Profit (Net Income) CAGR

10Y-29.93%

5Y-

3Y-54.92%

TTM-477.56%

EPS CAGR

10Y-30.23%

5Y-

3Y-56.37%

TTM-485.58%

ROCE

10Y Avg8.26%

5Y Avg4.95%

3Y Avg6.08%

Latest6.56%

Peer Comparison

Replacement Parts Manufacturers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
INEOINNEOVA Holdings Ltd	9.76M	0.59	655.56	-2%	1.38%	18.29%	19.39%	2.30
GTThe Goodyear Tire & Rubber Company	2.67B	9.32	38.83	-5.92%	-9.56%	-55.07%		1.79
XPELXPEL, Inc.	1.5B	54.30	32.91	6.08%	10.12%	17.06%	2.74%	0.09
DORMDorman Products, Inc.	3.94B	128.79	20.98	4.11%	11.62%	16.67%	4.87%	0.44
SMPStandard Motor Products, Inc.	882.61M	40.12	16.64	7.77%	3.95%	9.98%	3.7%	1.05
MPAAMotorcar Parts of America, Inc.	265.99M	13.60	-13.74	5.53%	0.31%	0.95%	15.38%	0.78

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	16.44B	15.16B	15.38B	15.47B	14.74B	12.32B	17.48B	20.8B	20.07B	18.88B
Revenue Growth %	-0.09%	-0.08%	0.01%	0.01%	-0.05%	-0.16%	0.42%	0.19%	-0.04%	-0.06%
Cost of Goods Sold+	12.16B	10.94B	11.68B	11.96B	11.6B	10.34B	13.69B	16.95B	16.56B	15.18B
COGS % of Revenue	0.74%	0.72%	0.76%	0.77%	0.79%	0.84%	0.78%	0.81%	0.83%	0.8%
Gross Profit+	4.28B	4.22B	3.7B	3.51B	3.14B	1.98B	3.79B	3.85B	3.51B	3.7B
Gross Margin %	0.26%	0.28%	0.24%	0.23%	0.21%	0.16%	0.22%	0.19%	0.17%	0.2%
Gross Profit Growth %	0.01%	-0.01%	-0.12%	-0.05%	-0.11%	-0.37%	0.91%	0.02%	-0.09%	0.06%
Operating Expenses+	2.61B	2.41B	2.28B	2.31B	2.32B	2.19B	2.7B	2.8B	2.81B	2.78B
OpEx % of Revenue	0.16%	0.16%	0.15%	0.15%	0.16%	0.18%	0.15%	0.13%	0.14%	0.15%
Selling, General & Admin	2.61B	2.41B	2.28B	2.31B	2.32B	2.19B	2.7B	2.8B	2.81B	2.88B
SG&A % of Revenue	0.16%	0.16%	0.15%	0.15%	0.16%	0.18%	0.15%	0.13%	0.14%	0.15%
Research & Development	0	0	0	0	0	0	0	0	0	426M
R&D % of Revenue	-	-	-	-	-	-	-	-	-	0.02%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	-525M
Operating Income+	1.67B	1.81B	1.42B	1.2B	820M	-208M	1.09B	1.05B	695M	920M
Operating Margin %	0.1%	0.12%	0.09%	0.08%	0.06%	-0.02%	0.06%	0.05%	0.03%	0.05%
Operating Income Growth %	0.1%	0.09%	-0.22%	-0.15%	-0.32%	-1.25%	6.23%	-0.03%	-0.34%	0.32%
EBITDA+	2.36B	2.54B	2.2B	1.98B	1.61B	651M	1.97B	2.02B	1.7B	1.97B
EBITDA Margin %	0.14%	0.17%	0.14%	0.13%	0.11%	0.05%	0.11%	0.1%	0.08%	0.1%
EBITDA Growth %	0.05%	0.08%	-0.13%	-0.1%	-0.18%	-0.6%	2.03%	0.02%	-0.16%	0.16%
D&A (Non-Cash Add-back)	698M	727M	781M	778M	795M	859M	883M	964M	1B	1.05B
EBIT	1.05B	1.58B	1.21B	1.33B	517M	-816M	900M	850M	-145M	677M
Net Interest Income+	-501M	-452M	-322M	-303M	-348M	-336M	-315M	-417M	-448M	-530M
Interest Income	22M	15M	13M	54M	26M	14M	72M	34M	84M	54M
Interest Expense	523M	467M	335M	357M	374M	350M	387M	451M	532M	584M
Other Income/Expense	-1.06B	-607M	-540M	-191M	-643M	-932M	-574M	-655M	-1.37B	-765M
Pretax Income+	608M	1.21B	878M	1.01B	177M	-1.14B	513M	399M	-677M	155M
Pretax Margin %	0.04%	0.08%	0.06%	0.07%	0.01%	-0.09%	0.03%	0.02%	-0.03%	0.01%
Income Tax+	232M	-77M	513M	303M	474M	110M	-267M	190M	10M	95M
Effective Tax Rate %	0.5%	1.05%	0.39%	0.69%	-1.76%	1.1%	1.49%	0.51%	1.02%	0.45%
Net Income+	307M	1.26B	346M	693M	-311M	-1.25B	764M	202M	-689M	70M
Net Margin %	0.02%	0.08%	0.02%	0.04%	-0.02%	-0.1%	0.04%	0.01%	-0.03%	0%
Net Income Growth %	-0.87%	3.12%	-0.73%	1%	-1.45%	-3.03%	1.61%	-0.74%	-4.41%	1.1%
Net Income (Continuing)	376M	1.28B	365M	708M	-297M	-1.25B	780M	209M	-687M	60M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	222M	218M	247M	206M	194M	181M	185M	166M	169M	150M
EPS (Diluted)+	1.12	4.74	1.37	2.90	-1.27	-5.35	2.89	0.71	-2.42	0.24
EPS Growth %	-0.87%	3.23%	-0.71%	1.12%	-1.44%	-3.21%	1.54%	-0.75%	-4.41%	1.1%
EPS (Basic)	1.14	4.81	1.39	2.92	-1.27	-5.35	2.92	0.71	-2.42	0.24
Diluted Shares Outstanding	273M	266M	253M	239M	233M	234M	264M	286M	285M	288M
Basic Shares Outstanding	269M	263M	249M	237M	233M	234M	261M	284M	285M	287M
Dividend Payout Ratio	0.22%	0.06%	0.32%	0.2%	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	6.14B	5.72B	6.08B	5.92B	5.93B	5.62B	7.33B	8.66B	7.65B	7.63B
Cash & Short-Term Investments	1.48B	1.13B	1.04B	801M	908M	1.54B	1.09B	1.23B	902M	810M
Cash Only	1.48B	1.13B	1.04B	801M	908M	1.54B	1.09B	1.23B	902M	810M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	2.03B	1.77B	2.02B	2.03B	1.92B	1.69B	2.39B	2.61B	2.72B	2.44B
Days Sales Outstanding	45.13	42.6	48.07	47.88	47.48	50.09	49.85	45.79	49.46	47.16
Inventory	2.46B	2.63B	2.79B	2.86B	2.85B	2.15B	3.59B	4.57B	3.7B	3.6B
Days Inventory Outstanding	73.94	87.69	87.09	87.15	89.69	76.02	95.81	98.41	81.52	86.51
Other Current Assets	168M	190M	0	0	89M	0	0	257M	95M	563M
Total Non-Current Assets+	10.3B	10.79B	10.98B	10.95B	11.25B	10.89B	14.07B	13.77B	13.93B	13.33B
Property, Plant & Equipment	6.78B	7.04B	7.45B	7.26B	8.06B	7.92B	9.33B	9.27B	9.48B	9.03B
Fixed Asset Turnover	2.43x	2.15x	2.06x	2.13x	1.83x	1.55x	1.87x	2.24x	2.12x	2.09x
Goodwill	555M	535M	595M	569M	565M	408M	1B	1.01B	781M	756M
Intangible Assets	138M	136M	139M	136M	137M	135M	1.04B	1B	969M	805M
Long-Term Investments	0	0	0	2M	262M	77M	86M	70M	22M	0
Other Non-Current Assets	687M	668M	792M	1.13B	2.22B	875M	1.02B	965M	2.68B	2.74B
Total Assets+	16.44B	16.51B	17.06B	16.87B	17.18B	16.51B	21.4B	22.43B	21.58B	20.96B
Asset Turnover	1.00x	0.92x	0.90x	0.92x	0.86x	0.75x	0.82x	0.93x	0.93x	0.90x
Asset Growth %	-0.09%	0%	0.03%	-0.01%	0.02%	-0.04%	0.3%	0.05%	-0.04%	-0.03%
Total Current Liabilities+	4.96B	4.82B	5.03B	4.78B	5.29B	5.11B	6.61B	7.14B	7.15B	7.34B
Accounts Payable	2.77B	2.59B	2.81B	2.92B	2.91B	2.94B	4.15B	4.8B	4.33B	4.05B
Days Payables Outstanding	83.09	86.42	87.72	89.11	91.49	103.99	110.58	103.41	95.37	97.46
Short-Term Debt	636M	681M	653M	653M	904M	558M	749M	623M	783M	1.38B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	0	0
Other Current Liabilities	886M	963M	1.03B	727M	721M	-62M	822M	-571M	1.14B	1.06B
Current Ratio	1.24x	1.19x	1.21x	1.24x	1.12x	1.10x	1.11x	1.21x	1.07x	1.04x
Quick Ratio	0.74x	0.64x	0.66x	0.64x	0.58x	0.68x	0.57x	0.57x	0.55x	0.55x
Cash Conversion Cycle	35.98	43.87	47.44	45.93	45.69	22.13	35.08	40.79	35.61	36.21
Total Non-Current Liabilities+	7.34B	6.97B	7.19B	7.02B	7.35B	8.14B	9.61B	9.82B	9.6B	8.72B
Long-Term Debt	5.12B	4.8B	5.08B	5.11B	4.51B	5.2B	6.41B	7.02B	6.57B	6.14B
Capital Lease Obligations	0	0	0	0	911M	916M	1.06B	1.07B	1.08B	1.05B
Deferred Tax Liabilities	91M	85M	100M	95M	0	84M	135M	134M	0	0
Other Non-Current Liabilities	2.13B	2.09B	2.01B	1.82B	1.93B	1.91B	1.98B	1.59B	1.94B	1.52B
Total Liabilities	12.3B	11.79B	12.21B	11.8B	12.64B	13.25B	16.22B	16.96B	16.75B	16.06B
Total Debt+	5.76B	5.48B	5.73B	5.76B	6.53B	6.87B	8.42B	8.91B	8.65B	8.79B
Net Debt	4.28B	4.35B	4.69B	4.96B	5.62B	5.33B	7.33B	7.68B	7.75B	7.98B
Debt / Equity	1.39x	1.16x	1.18x	1.14x	1.44x	2.11x	1.62x	1.63x	1.79x	1.79x
Debt / EBITDA	2.44x	2.16x	2.61x	2.91x	4.04x	10.56x	4.27x	4.42x	5.10x	4.46x
Net Debt / EBITDA	1.81x	1.71x	2.13x	2.51x	3.48x	8.19x	3.72x	3.81x	4.57x	4.05x
Interest Coverage	3.18x	3.88x	4.23x	3.37x	2.19x	-0.59x	2.81x	2.34x	1.31x	1.58x
Total Equity+	4.14B	4.72B	4.85B	5.07B	4.54B	3.26B	5.18B	5.47B	4.84B	4.91B
Equity Growth %	0.08%	0.14%	0.03%	0.05%	-0.1%	-0.28%	0.59%	0.05%	-0.12%	0.01%
Book Value per Share	15.17	17.76	19.17	21.21	19.51	13.93	19.64	19.11	16.97	17.03
Total Shareholders' Equity	3.92B	4.51B	4.6B	4.86B	4.35B	3.08B	5B	5.3B	4.67B	4.76B
Common Stock	267M	252M	240M	232M	233M	233M	282M	283M	284M	285M
Retained Earnings	4.57B	5.81B	6.04B	6.6B	6.11B	4.81B	5.57B	5.78B	5.09B	5.16B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-4.01B	-4.2B	-3.98B	-4.08B	-4.14B	-4.13B	-3.96B	-3.88B	-3.83B	-3.84B
Minority Interest	222M	218M	247M	206M	194M	181M	185M	166M	169M	150M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.69B	1.5B	1.16B	916M	1.21B	1.11B	1.06B	521M	1.03B	698M
Operating CF Margin %	0.1%	0.1%	0.08%	0.06%	0.08%	0.09%	0.06%	0.03%	0.05%	0.04%
Operating CF Growth %	3.96%	-0.11%	-0.23%	-0.21%	0.32%	-0.08%	-0.05%	-0.51%	0.98%	-0.32%
Net Income	376M	1.28B	365M	708M	-311M	-1.25B	764M	202M	-687M	70M
Depreciation & Amortization	698M	727M	781M	778M	795M	859M	883M	964M	1B	1.05B
Stock-Based Compensation	19M	23M	22M	16M	27M	31M	36M	14M	0	0
Deferred Taxes	79M	-229M	385M	131M	0	23M	-471M	28M	-230M	-65M
Other Non-Cash Items	383M	100M	-18M	-414M	412M	265M	-37M	6M	554M	-174M
Working Capital Changes	85M	-328M	-290M	-261M	284M	1.19B	-113M	-693M	394M	-182M
Change in Receivables	-31M	211M	-147M	-172M	71M	132M	-300M	-333M	-59M	127M
Change in Inventory	-89M	-172M	-44M	-171M	6M	713M	-982M	-1.04B	908M	-122M
Change in Payables	78M	-156M	85M	223M	0	26M	923M	686M	-550M	-87M
Cash from Investing+	-1.26B	-973M	-879M	-867M	-800M	-667M	-2.79B	-914M	-1.03B	-1B
Capital Expenditures	-983M	-996M	-881M	-811M	-770M	-647M	-981M	-1.06B	-1.05B	-1.19B
CapEx % of Revenue	0.06%	0.07%	0.06%	0.05%	0.05%	0.05%	0.06%	0.05%	0.05%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	49M	35M	2M	-867M	-30M	-667M	37M	72M	23M	183M
Cash from Financing+	-985M	-860M	-415M	-243M	-307M	203M	1.31B	575M	-333M	225M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-68M	-82M	-110M	-138M	-148M	-37M	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-313M	-24M	-34M	-20M	-93M	-10M	-106M	-1M	12M	-36M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	704M	508M	277M	105M	437M	468M	81M	-540M	-18M	-490M
FCF Margin %	0.04%	0.03%	0.02%	0.01%	0.03%	0.04%	0%	-0.03%	-0%	-0.03%
FCF Growth %	2.21%	-0.28%	-0.45%	-0.62%	3.16%	0.07%	-0.83%	-7.67%	0.97%	-26.22%
FCF per Share	2.58	1.91	1.09	0.44	1.88	2.00	0.31	-1.89	-0.06	-1.70
FCF Conversion (FCF/Net Income)	5.50x	1.19x	3.35x	1.32x	-3.88x	-0.89x	1.39x	2.58x	-1.50x	9.97x
Interest Paid	0	0	0	0	324M	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	7.69%	28.51%	7.23%	13.97%	-6.47%	-32.14%	18.1%	3.79%	-13.37%	1.44%
Return on Invested Capital (ROIC)	15.14%	15.55%	11.43%	9.21%	6.09%	-1.66%	7.72%	6.16%	4.05%	5.42%
Gross Margin	26.02%	27.86%	24.04%	22.71%	21.32%	16.1%	21.66%	18.51%	17.49%	19.61%
Net Margin	1.87%	8.34%	2.25%	4.48%	-2.11%	-10.18%	4.37%	0.97%	-3.43%	0.37%
Debt / Equity	1.39x	1.16x	1.18x	1.14x	1.44x	2.11x	1.62x	1.63x	1.79x	1.79x
Interest Coverage	3.18x	3.88x	4.23x	3.37x	2.19x	-0.59x	2.81x	2.34x	1.31x	1.58x
FCF Conversion	5.50x	1.19x	3.35x	1.32x	-3.88x	-0.89x	1.39x	2.58x	-1.50x	9.97x
Revenue Growth	-9.35%	-7.81%	1.44%	0.64%	-4.72%	-16.44%	41.86%	19.04%	-3.55%	-5.92%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Other Products and Services	-	-	-	24M	35M	-	-	-	-	-
Other Products and Services Growth	-	-	-	-	45.83%	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Americas	-	8.17B	8.21B	8.17B	7.92B	-	-	-	11.99B	11.03B
Americas Growth	-	-	0.49%	-0.54%	-3.01%	-	-	-	-	-8.00%
Europe Middle Eastand Africa	-	4.88B	4.93B	5.09B	4.71B	-	-	-	5.61B	5.42B
Europe Middle Eastand Africa Growth	-	-	0.98%	3.29%	-7.50%	-	-	-	-	-3.23%
Asia Pacific	-	2.11B	2.24B	2.22B	2.12B	-	-	-	2.47B	2.42B
Asia Pacific Growth	-	-	6.22%	-0.89%	-4.60%	-	-	-	-	-1.91%
UNITED STATES	7.34B	-	-	-	-	5.42B	8.48B	10.73B	-	-
UNITED STATES Growth	-	-	-	-	-	-	56.34%	26.58%	-	-
GERMANY	1.91B	-	-	-	-	705M	-	-	-	-
GERMANY Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

The Goodyear Tire & Rubber Company (GT) has a price-to-earnings (P/E) ratio of 38.8x. This suggests investors expect higher future growth.

Growth & Financials

The Goodyear Tire & Rubber Company (GT) reported $18.31B in revenue for fiscal year 2024. This represents a 20% decrease from $22.77B in 2011.

The Goodyear Tire & Rubber Company (GT) saw revenue decline by 5.9% over the past year.

The Goodyear Tire & Rubber Company (GT) reported a net loss of $1.75B for fiscal year 2024.

Dividend & Returns

The Goodyear Tire & Rubber Company (GT) has a return on equity (ROE) of 1.4%. This is below average, suggesting room for improvement.

The Goodyear Tire & Rubber Company (GT) had negative free cash flow of $352.0M in fiscal year 2024, likely due to heavy capital investments.

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