Revenue growth remains highly volatile, fluctuating between a 9.2% expansion in 2025Q3 and a 14.0% contraction in 2024Q3, while gross margins have shown structural resilience by staying within the 23% to 25% range.
| Sales/Revenue | 2.71B | 3.58B | 3.48B | 3.89B | 3.6B | 3.63B | 3.03B | 3.25B | 3.38B | 3.1B | 3B |
| Revenue Growth % | -21.29% | 3.14% | -10.58% | 7.85% | -0.83% | 19.74% | -6.59% | -3.76% | 9.01% | 3.3% | - |
| Cost of Goods Sold | 2.05B | 2.71B | 2.59B | 2.98B | 2.76B | 2.77B | 2.36B | 2.41B | 2.47B | 2.22B | 2.21B |
| COGS % of Revenue | - | 75.5% | 74.42% | 76.63% | 76.69% | 76.36% | 77.72% | 74.08% | 73.3% | 71.64% | 73.77% |
| Gross Profit | 855M | 878M | 889M | 908M | 840M | 859M | 676M | 842M | 901M | 878M | 786M |
| Gross Margin % | 31.6% | 24.5% | 25.58% | 23.37% | 23.31% | 23.64% | 22.28% | 25.92% | 26.7% | 28.36% | 26.23% |
| Gross Profit Growth % | - | -1.24% | -2.09% | 8.1% | -2.21% | 27.07% | -19.71% | -6.55% | 2.62% | 11.7% | - |
| Operating Expenses | 346M | 385M | 426M | 422M | 369M | 352M | 388M | 378M | 377M | 370M | 307M |
| OpEx % of Revenue | - | 10.74% | 12.26% | 10.86% | 10.24% | 9.69% | 12.79% | 11.64% | 11.17% | 11.95% | 10.24% |
| Selling, General & Admin | 235M | 234M | 239M | 247M | 216M | 216M | 277M | 249M | 249M | 249M | 197M |
| SG&A % of Revenue | - | 6.53% | 6.88% | 6.36% | 6% | 5.95% | 9.13% | 7.67% | 7.38% | 8.04% | 6.57% |
| Research & Development | 111M | 151M | 187M | 175M | 153M | 136M | 111M | 129M | 128M | 121M | 110M |
| R&D % of Revenue | - | 4.21% | 5.38% | 4.5% | 4.25% | 3.74% | 3.66% | 3.97% | 3.79% | 3.91% | 3.67% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 363M | 493M | 463M | 486M | 471M | 507M | 288M | 464M | 524M | 508M | 479M |
| Operating Margin % | 13.41% | 13.76% | 13.32% | 12.51% | 13.07% | 13.96% | 9.49% | 14.29% | 15.53% | 16.41% | 15.98% |
| Operating Income Growth % | - | 6.48% | -4.73% | 3.18% | -7.1% | 76.04% | -37.93% | -11.45% | 3.15% | 6.05% | - |
| EBITDA | 440M | 592M | 553M | 576M | 555M | 599M | 375M | 537M | 601M | 570M | 540M |
| EBITDA Margin % | 16.26% | 16.52% | 15.91% | 14.82% | 15.4% | 16.49% | 12.36% | 16.53% | 17.81% | 18.41% | 18.02% |
| EBITDA Growth % | -23.74% | 7.05% | -3.99% | 3.78% | -7.35% | 59.73% | -30.17% | -10.65% | 5.44% | 5.56% | - |
| D&A (Non-Cash Add-back) | 77M | 99M | 90M | 90M | 84M | 92M | 87M | 73M | 77M | 62M | 61M |
| EBIT | 371M | 493M | 500M | 507M | 580M | 632M | 199M | 414M | 415M | 374M | 257M |
| Net Interest Income | -76M | -101M | -154M | -153M | -8M | -83M | -77M | -61M | -12M | 6M | 9M |
| Interest Income | 0 | 4M | 3M | 7M | 76M | 11M | 3M | 7M | 7M | 14M | 16M |
| Interest Expense | 103M | 105M | 157M | 160M | 84M | 94M | 80M | 68M | 19M | 8M | 7M |
| Other Income/Expense | 62M | -101M | -120M | -139M | 25M | 31M | -169M | -118M | -128M | -142M | -229M |
| Pretax Income | 425M | 392M | 343M | 347M | 496M | 538M | 119M | 346M | 396M | 366M | 250M |
| Pretax Margin % | 15.71% | 10.94% | 9.87% | 8.93% | 13.77% | 14.81% | 3.92% | 10.65% | 11.73% | 11.82% | 8.34% |
| Income Tax | 82M | 82M | 61M | 86M | 106M | 43M | 39M | 33M | -784M | 1.35B | 51M |
| Effective Tax Rate % | 19.29% | 20.92% | 17.78% | 24.78% | 21.37% | 7.99% | 32.77% | 9.54% | -197.98% | 368.58% | 20.4% |
| Net Income | 343M | 310M | 282M | 261M | 390M | 495M | 80M | 313M | 1.18B | -983M | 199M |
| Net Margin % | 12.68% | 8.65% | 8.12% | 6.72% | 10.82% | 13.63% | 2.64% | 9.64% | 34.96% | -31.75% | 6.64% |
| Net Income Growth % | 23.38% | 9.93% | 8.05% | -33.08% | -21.21% | 518.75% | -74.44% | -73.47% | 220.04% | -593.97% | - |
| Net Income (Continuing) | 343M | 310M | 282M | 261M | 390M | 495M | 80M | 313M | 1.21B | -983M | 199M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.78 | 1.52 | 1.26 | -0.31 | 5.99 | 1.56 | 1.05 | 4.12 | 15.86 | -12.95 | 2.62 |
| EPS Growth % | 33.38% | 20.63% | 506.45% | -105.18% | 283.97% | 48.57% | -74.51% | -74.02% | 222.47% | -594.27% | - |
| EPS (Basic) | - | 1.55 | 1.27 | -0.31 | 6.03 | 7.10 | 1.06 | 4.20 | 15.93 | -13.26 | 2.62 |
| Diluted Shares Outstanding | 193.2M | 203.62M | 224.12M | 166.6M | 65.08M | 69.71M | 76.1M | 75.93M | 74.4M | 75.9M | 75.9M |
| Basic Shares Outstanding | 189.25M | 199.76M | 222.32M | 166.6M | 64.71M | 69.71M | 75.54M | 74.6M | 74.06M | 74.11M | 74.11M |
| Dividend Payout Ratio | - | 16.77% | - | 16.09% | 21.28% | - | - | - | - | - | - |
ICE powertrain transition timing
According to the provided quarterly income statements, Garrett Motion's revenue growth has remained inconsistent, fluctuating between a 9.2% expansion in 2025Q3 and a 14.0% contraction in 2024Q3, reflecting the company's high sensitivity to global automotive production cycles and regional emissions-driven demand shifts.
The revenue trajectory appears heavily influenced by OEM production schedules rather than secular growth, suggesting that Garrett remains a cyclical play on internal combustion engine volumes. Investors should monitor whether the recent shift toward hybrid platforms can provide a more stable revenue floor as pure ICE demand faces long-term regulatory headwinds.
Based on reported financial figures, Garrett Motion has maintained gross margins consistently within the 23% to 25% range, demonstrating a degree of pricing power and operational efficiency that appears superior to diversified Tier-1 auto suppliers like Dana Incorporated or Strattec Security.
This margin stability suggests that the company's specialized turbocharging technology remains a critical, high-value component for OEMs, allowing for some mitigation of raw material cost volatility. However, the persistent annual price-down requirements inherent in automotive contracts necessitate constant manufacturing process improvements to prevent long-term margin erosion.
As evidenced by the income statement data, Garrett Motion's operating income demonstrates significant sensitivity to revenue fluctuations, with operating margins expanding to 14.7% in 2025Q3 before contracting, highlighting the company's high fixed-cost base and reliance on volume-driven absorption of overhead expenses.
The ability to scale operating income faster than gross profit during periods of volume growth suggests effective management of SG&A expenses. Conversely, the rapid compression of operating margins during revenue downturns warrants caution, as the company's cost structure may lack the flexibility required to navigate prolonged automotive production slumps.
Financial statements indicate that Garrett Motion's diluted EPS has experienced substantial quarter-over-quarter variance, ranging from $0.21 to $0.49, which appears driven by non-operating items and capital structure complexities rather than purely reflecting the underlying operational profitability of the turbocharger business.
The presence of stock-based compensation and historical indemnity-related adjustments complicates the assessment of true earnings quality. Investors should focus on normalized free cash flow metrics to better understand the company's ability to fund its deleveraging strategy and R&D investments in next-generation e-boosting technologies.
While Garrett Motion maintains solid margins, short-sellers may focus on the potential for terminal value compression as the global automotive industry accelerates its transition toward battery electric vehicles, which do not require the company's core turbocharging and high-speed aero-machinery technology.
The market's current valuation likely reflects a skepticism regarding the company's ability to pivot its engineering expertise toward non-ICE applications. If the hybrid transition proves to be a shorter-term bridge than anticipated, the company may face significant challenges in maintaining its current revenue base and capital allocation priorities.
Quick answers to the most common questions about buying GTX stock.
For fiscal year 2025, Garrett Motion Inc. (GTX) reported total revenue of $3.58B. This represents a 19.6% increase compared to $3.00B in 2016.
Garrett Motion Inc. (GTX) is profitable, generating $310.0M in net income for the fiscal year ending 2025 with a net profit margin of 8.6%.
Garrett Motion Inc. (GTX) reported an operating income of $493.0M, resulting in an operating profit margin of 13.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Garrett Motion Inc. (GTX) generated $878.0M in gross profit for the year, representing a gross profit margin of 24.5%. This demonstrates the company's core pricing power and production efficiency.