Revenue held between roughly $10.1 billion and $11.0 billion across the ten quarters shown while gross margin ranged from 9.6% to 14.6%, indicating volume and input-cost sensitivity without a sustained margin expansion trend.
Magna International Inc. (MGA) annual income statement — 30-year revenue, gross profit & net income history
| 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 | Jul'97 | Jul'96 |
|---|
| Sales/Revenue | 41.84B | 42.75B | 42.84B | 42.8B | 37.84B | 36.24B | 32.65B | 39.43B | 40.83B | 38.95B | 36.45B | 32.13B | 36.64B | 34.84B | 30.84B | 28.75B | 24.1B | 17.37B | 23.7B | 26.07B | 24.18B | 22.81B | 20.65B | 15.35B | 12.97B | 11.03B | 10.51B | 9.36B | 3.4B | 5.58B | 4.26B |
| Revenue Growth % | 0.13% | -0.21% | 0.09% | 13.1% | 4.41% | 11.01% | -17.2% | -3.42% | 4.83% | 6.86% | 13.42% | -12.3% | 5.18% | 12.96% | 7.27% | 19.28% | 38.78% | -26.73% | -9.07% | 7.8% | 6% | 10.45% | 34.59% | 18.3% | 17.64% | 4.88% | 12.33% | 175.59% | -39.14% | 30.95% | 28.76% |
| Cost of Goods Sold | 37.14B | 38.34B | 37.04B | 37.19B | 33.19B | 31.1B | 28.21B | 34.02B | 35.05B | 33.26B | 31.12B | 27.56B | 31.62B | 30.29B | 27.01B | 25.4B | 20.92B | 15.7B | 20.98B | 22.6B | 21.21B | 19.83B | 17.7B | 12.8B | 10.83B | 8.59B | 8.26B | 7.62B | 2.83B | 4.62B | 3.5B |
| COGS % of Revenue | - | 89.69% | 86.46% | 86.89% | 87.71% | 85.8% | 86.4% | 86.28% | 85.86% | 85.4% | 85.4% | 85.76% | 86.3% | 86.94% | 87.59% | 88.36% | 86.81% | 90.38% | 88.52% | 86.7% | 87.72% | 86.94% | 85.68% | 83.45% | 83.47% | 77.89% | 78.61% | 81.44% | 83.42% | 82.77% | 82.15% |
| Gross Profit | 4.7B | 4.41B | 5.8B | 5.61B | 4.65B | 5.14B | 4.44B | 5.41B | 5.77B | 5.69B | 5.32B | 4.58B | 5.02B | 4.55B | 3.83B | 3.35B | 3.18B | 1.67B | 2.72B | 3.47B | 2.97B | 2.98B | 2.96B | 2.54B | 2.14B | 2.44B | 2.25B | 1.74B | 563M | 961.7M | 760.5M |
| Gross Margin % | 11.24% | 10.31% | 13.54% | 13.11% | 12.29% | 14.2% | 13.6% | 13.72% | 14.14% | 14.6% | 14.6% | 14.24% | 13.69% | 13.06% | 12.41% | 11.64% | 13.19% | 9.62% | 11.48% | 13.3% | 12.28% | 13.06% | 14.32% | 16.55% | 16.53% | 22.11% | 21.39% | 18.56% | 16.58% | 17.23% | 17.85% |
| Gross Profit Growth % | - | -24.01% | 3.33% | 20.64% | -9.58% | 15.88% | -17.91% | -6.29% | 1.48% | 6.88% | 16.33% | -8.83% | 10.33% | 18.84% | 14.34% | 5.32% | 90.3% | -38.65% | -21.51% | 16.81% | -0.37% | 0.78% | 16.42% | 18.47% | -12.06% | 8.4% | 29.48% | 208.53% | -41.46% | 26.46% | 20.33% |
| Operating Expenses | 2.3B | 2.26B | 3.68B | 3.57B | 3.08B | 3.2B | 3.43B | 3.04B | 2.94B | 2.84B | 2.66B | 2.25B | 2.6B | 2.68B | 2.32B | 2.1B | 1.97B | 1.99B | 2.39B | 2.32B | 2.18B | 2.04B | 1.78B | 1.5B | 1.2B | 1.08B | 1.03B | 961M | 355M | 517.9M | 413.4M |
| OpEx % of Revenue | - | 5.29% | 8.6% | 8.35% | 8.14% | 8.82% | 10.52% | 7.71% | 7.21% | 7.29% | 7.29% | 7% | 7.09% | 7.69% | 7.52% | 7.31% | 8.17% | 11.46% | 10.1% | 8.88% | 9% | 8.93% | 8.64% | 9.78% | 9.27% | 9.83% | 9.77% | 10.27% | 10.45% | 9.28% | 9.7% |
| Selling, General & Admin | 2.3B | 2.26B | 2.06B | 2.05B | 1.66B | 1.72B | 1.59B | 1.7B | 1.66B | 1.67B | 1.6B | 1.45B | 1.71B | 1.62B | 1.52B | 1.42B | 1.34B | 1.26B | 1.32B | 1.46B | 1.36B | 1.2B | 1.19B | 1.01B | 780M | 685M | 655M | 607M | 229M | 349.5M | 274.9M |
| SG&A % of Revenue | - | 5.29% | 4.81% | 4.79% | 4.39% | 4.74% | 4.86% | 4.3% | 4.08% | 4.28% | 4.39% | 4.51% | 4.66% | 4.64% | 4.93% | 4.92% | 5.56% | 7.26% | 5.56% | 5.6% | 5.62% | 5.25% | 5.74% | 6.56% | 6.01% | 6.21% | 6.23% | 6.49% | 6.74% | 6.26% | 6.45% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 558.01M | 540.77M | 460M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | 1.37% | 1.39% | 1.26% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 1.62B | 1.52B | 1.42B | 1.48B | 1.85B | 1.34B | 1.28B | -39M | -30M | 166M | -64M | -144M | 108M | 686M | 628M | 730M | 1.07B | 855M | 817M | 840M | 598M | 493M | 422M | 399M | 372M | 354M | 126M | 168.4M | 138.5M |
| Operating Income | 2.41B | 2.15B | 2.12B | 2.04B | 1.57B | 1.95B | 1.01B | 2.37B | 3.13B | 3.17B | 2.88B | 2.54B | 2.65B | 2.08B | 1.68B | 1.08B | 1.23B | -301M | 611M | 1.21B | 846M | 1.07B | 1.22B | 1.06B | 1.01B | 1.4B | 1.27B | 820M | 201M | 271.3M | 332.9M |
| Operating Margin % | 5.75% | 5.02% | 4.94% | 4.76% | 4.16% | 5.38% | 3.08% | 6% | 7.66% | 8.15% | 7.9% | 7.91% | 7.23% | 5.98% | 5.44% | 3.76% | 5.11% | -1.73% | 2.58% | 4.63% | 3.5% | 4.7% | 5.92% | 6.93% | 7.79% | 12.72% | 12.06% | 8.76% | 5.92% | 4.86% | 7.81% |
| Operating Income Growth % | - | 1.46% | 3.83% | 29.56% | -19.25% | 93.64% | -57.5% | -24.3% | -1.45% | 10.17% | 13.25% | -4.04% | 27.22% | 24.28% | 55.19% | -12.34% | 509.3% | -149.26% | -49.42% | 42.79% | -21.16% | -12.19% | 14.96% | 5.14% | -27.94% | 10.65% | 54.63% | 307.96% | -25.91% | -18.5% | 25.86% |
| EBITDA | 4.44B | 4.07B | 4.04B | 3.79B | 2.99B | 3.46B | 2.37B | 3.71B | 4.41B | 4.53B | 4.06B | 3.35B | 3.54B | 3.15B | 2.48B | 1.77B | 1.89B | 436M | 1.48B | 2.08B | 1.64B | 1.78B | 1.82B | 1.57B | 1.46B | 1.83B | 1.66B | 1.18B | 327M | 439.7M | 471.4M |
| EBITDA Margin % | 10.62% | 9.53% | 9.44% | 8.85% | 7.91% | 9.55% | 7.27% | 9.41% | 10.79% | 11.63% | 11.13% | 10.41% | 9.66% | 9.03% | 8.03% | 6.14% | 7.85% | 2.51% | 6.26% | 7.98% | 6.77% | 7.82% | 8.81% | 10.22% | 11.22% | 16.58% | 15.79% | 12.63% | 9.63% | 7.88% | 11.06% |
| EBITDA Growth % | 1.11% | 0.69% | 6.81% | 26.54% | -13.53% | 45.87% | -36.1% | -15.73% | -2.78% | 11.7% | 21.28% | -5.51% | 12.52% | 27.01% | 40.26% | -6.71% | 334.17% | -70.62% | -28.65% | 27.14% | -8.3% | -1.98% | 16.07% | 7.69% | -20.35% | 10.12% | 40.44% | 261.47% | -25.63% | -6.72% | 26.28% |
| D&A (Non-Cash Add-back) | 2.04B | 1.93B | 1.93B | 1.75B | 1.42B | 1.51B | 1.37B | 1.34B | 1.28B | 1.36B | 1.18B | 802M | 890M | 1.06B | 801M | 686M | 661M | 737M | 873M | 872M | 790M | 711M | 598M | 505M | 445M | 425M | 392M | 362M | 126M | 168.4M | 138.5M |
| EBIT | 1.5B | 1.54B | 1.85B | 1.85B | 1B | 2.07B | 1.11B | 2.33B | 2.64B | 3.08B | 2.88B | 2.71B | 2.65B | 1.94B | 1.78B | 1.24B | 1.21B | -484M | 379M | 1.15B | 792M | 942M | 1.16B | 1.05B | 983M | 928M | 1.01B | 710M | 208M | 566M | 343M |
| Net Interest Income | -149.6M | -212.66M | -211M | -156M | -81M | -78M | -86M | -82M | -93M | -70M | -88M | -44M | -30M | -16M | -16M | 6M | 11M | -7M | 62M | 0 | 0 | 0 | 5M | 13M | 13M | -2M | -13M | -16M | 0 | 10M | 3M |
| Interest Income | 0 | 0 | 98M | 86M | 45M | 44M | 19M | 22M | 20M | 20M | 12M | 14M | 17M | 18M | 18M | 25M | 22M | 20M | 113M | 0 | 0 | 0 | 35M | 34M | 46M | 33M | 32M | 27M | 0 | 23M | 18M |
| Interest Expense | 149.6M | 212.66M | 309M | 242M | 126M | 122M | 105M | 104M | 113M | 90M | 100M | 58M | 47M | 34M | 34M | 19M | 12M | 27M | 283M | 56M | 54M | 142M | 30M | 168M | 33M | 35M | 45M | 43M | 0 | 13M | 15M |
| Other Income/Expense | -1.08B | -816.04M | -574M | -432M | -695M | 0 | 0 | -144M | -176M | -188M | -481M | -476M | -718M | -178M | 74M | -29M | -35M | -190M | -221M | 0 | 0 | -11M | 0 | -31M | -51M | 67M | -299M | -182M | 9M | 155M | 16M |
| Pretax Income | 1.33B | 1.33B | 1.54B | 1.61B | 878M | 1.95B | 1.01B | 2.22B | 2.95B | 3B | 2.78B | 2.65B | 2.54B | 1.91B | 1.75B | 1.22B | 1.2B | -511M | 328M | 1.15B | 792M | 931M | 1.16B | 962M | 928M | 918M | 972M | 682M | 210M | 606.5M | 338.4M |
| Pretax Margin % | 3.17% | 3.11% | 3.6% | 3.75% | 2.32% | 5.38% | 3.08% | 5.64% | 7.23% | 7.7% | 7.63% | 8.25% | 6.93% | 5.47% | 5.67% | 4.23% | 4.97% | -2.94% | 1.38% | 4.42% | 3.28% | 4.08% | 5.6% | 6.27% | 7.15% | 8.33% | 9.25% | 7.29% | 6.18% | 10.87% | 7.94% |
| Income Tax | 465.88M | 432.44M | 446M | 320M | 237M | 395M | 329M | 591M | 619M | 744M | 706M | 711M | 659M | 360M | 324M | 202M | 236M | -18M | 257M | 489M | 264M | 292M | 398M | 373M | 317M | 290M | 348M | 233M | 73M | 168.7M | 113.5M |
| Effective Tax Rate % | 35.08% | 32.49% | 28.92% | 19.93% | 26.99% | 20.28% | 32.7% | 26.59% | 20.98% | 24.81% | 25.4% | 26.82% | 25.96% | 18.9% | 18.51% | 16.6% | 19.72% | 3.52% | 78.35% | 42.45% | 33.33% | 31.36% | 34.43% | 38.77% | 34.16% | 31.59% | 35.8% | 34.16% | 34.76% | 27.82% | 33.54% |
| Net Income | 820.8M | 843.51M | 1.01B | 1.21B | 592M | 1.51B | 757M | 1.76B | 2.3B | 2.21B | 2.03B | 2.01B | 1.88B | 1.56B | 1.43B | 1.02B | 973M | -493M | 71M | 663M | 528M | 639M | 692M | 522M | 554M | 580M | 598M | 430M | 137M | 437.8M | 224.9M |
| Net Margin % | 1.96% | 1.97% | 2.36% | 2.83% | 1.56% | 4.18% | 2.32% | 4.48% | 5.62% | 5.66% | 5.57% | 6.26% | 5.14% | 4.48% | 4.65% | 3.54% | 4.04% | -2.84% | 0.3% | 2.54% | 2.18% | 2.8% | 3.35% | 3.4% | 4.27% | 5.26% | 5.69% | 4.59% | 4.03% | 7.85% | 5.28% |
| Net Income Growth % | -20.54% | -16.4% | -16.82% | 104.9% | -60.9% | 100% | -57.11% | -23.13% | 4.08% | 8.62% | 0.89% | 6.96% | 20.56% | 8.93% | 40.77% | 4.62% | 297.36% | -794.37% | -89.29% | 25.57% | -17.37% | -7.66% | 32.57% | -5.78% | -4.48% | -3.01% | 39.07% | 213.87% | -68.71% | 94.66% | -3.27% |
| Net Income (Continuing) | 862.17M | 898.46M | 1.1B | 1.29B | 641M | 1.55B | 677M | 1.63B | 2.33B | 2.24B | 2.07B | 1.94B | 1.92B | 1.54B | 1.43B | 1.01B | 1B | -493M | 71M | 663M | 528M | 639M | 692M | 659M | 634M | 620M | 622M | 438M | 137M | 401M | 222M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 67M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 332.03M | 346M | 418M | 393M | 400M | 389M | 350M | 300M | 458M | 502M | 451M | 151M | 14M | 16M | 29M | 27M | 74M | 0 | 0 | 0 | 0 | 0 | 634M | 613M | 410M | 441M | 356M | 124M | 117M | 82.3M | 88.4M |
| EPS (Diluted) | 3.09 | 2.99 | 3.52 | 4.23 | 2.03 | 5.00 | 2.52 | 5.59 | 6.61 | 5.90 | 5.16 | 4.88 | 4.35 | 3.38 | 3.05 | 2.10 | 2.09 | -1.10 | 0.16 | 1.47 | 1.20 | 1.48 | 1.74 | 1.30 | 1.45 | 1.55 | 1.61 | 1.16 | 0.39 | 1.27 | 0.77 |
| EPS Growth % | -16.84% | -15.06% | -16.78% | 108.37% | -59.4% | 98.41% | -54.92% | -15.43% | 12.03% | 14.34% | 5.74% | 12.18% | 28.7% | 10.82% | 45.24% | 0.48% | 290% | -787.5% | -89.12% | 22.5% | -18.92% | -14.94% | 33.85% | -10.34% | -6.45% | -3.73% | 38.79% | 197.44% | -69.29% | 64.94% | -18.09% |
| EPS (Basic) | - | 2.99 | 3.52 | 4.24 | 2.04 | 5.04 | 2.52 | 5.61 | 6.65 | 5.93 | 5.19 | 4.94 | 4.41 | 3.43 | 3.09 | 2.13 | 2.12 | -1.10 | 0.16 | 1.49 | 1.22 | 1.50 | 1.75 | 1.30 | 1.45 | 1.64 | 1.76 | 1.24 | 0.41 | 1.35 | 0.80 |
| Diluted Shares Outstanding | 266M | 282.5M | 286.9M | 286.6M | 291.2M | 302.8M | 300.4M | 315.8M | 347.5M | 373.9M | 393.2M | 412.7M | 433.2M | 461.6M | 470.4M | 485.6M | 466M | 447.2M | 455.6M | 456.4M | 445.6M | 436M | 389.2M | 385.2M | 368M | 365.6M | 366M | 364.4M | 353.55M | 317.2M | 278.4M |
| Basic Shares Outstanding | 263.7M | 281.7M | 286.8M | 286.2M | 290.4M | 300.6M | 299.7M | 314.7M | 345.4M | 371.8M | 391M | 407.5M | 427.2M | 455.8M | 464.8M | 478.6M | 460M | 447.2M | 451.2M | 445.6M | 434.4M | 426.8M | 386.8M | 383.6M | 354.8M | 320.4M | 314M | 314M | 338.27M | 281.6M | 248.8M |
| Dividend Payout Ratio | - | 64.49% | 53.42% | 43.03% | 86.82% | 33.95% | 61.69% | 25.44% | 19.51% | 18.13% | 18.96% | 17.59% | 16.79% | 18.19% | 17.59% | 23.18% | 10.28% | - | 170.45% | 21.49% | 30.09% | 26.95% | 20.52% | 28.16% | 21.48% | 18.79% | 16.22% | 20.23% | 13.14% | 11.88% | 20.01% |
Quick answers to the most common questions about buying MGA stock.
For fiscal year 2025, Magna International Inc. (MGA) reported total revenue of $42.75B. This represents a 903.0% increase compared to $4.26B in 1996.
Magna International Inc. (MGA) is profitable, generating $843.5M in net income for the fiscal year ending 2025 with a net profit margin of 2.0%.
Magna International Inc. (MGA) reported an operating income of $2.15B, resulting in an operating profit margin of 5.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Magna International Inc. (MGA) generated $4.41B in gross profit for the year, representing a gross profit margin of 10.3%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Customer concentration and OEM price pressure
Flat Top Line Masks Quarterly Volatility
According to the reported income statement, Magna's quarterly revenue has hovered near $10-11 billion across the ten periods shown, with year-over-year growth of -5.5% in 2026Q3 and 0.7% in 2026Q2, indicating no sustained acceleration.
The revenue series suggests a business tied closely to global light vehicle production rather than to internal share gains. Quarterly swings of several percentage points appear more consistent with OEM program timing and production schedules than with a durable change in demand. Investors should monitor whether the recent sequential stabilization holds once volumes normalize, since the data does not yet demonstrate a clear growth inflection.
Thin Gross Margins Under Persistent Pressure
Based on reported figures, Magna's gross margin ranged from roughly 9.6% to 14.6% over the period, with the 2026Q1 trough of 9.6% and the 2026Q3 rebound to 12.1% highlighting sensitivity to volume and input costs.
The gross margin band is narrow and well below what pricing power would typically produce, which suggests that annual OEM productivity concessions and raw material exposure absorb much of the value created. The margin recovery from the first quarter of 2026 may reflect cost actions or favorable mix rather than a structural shift. Without evidence of stronger pass-through, the margin profile appears likely to remain cyclical.
Operating Leverage Shows Uneven Efficiency
As reported in financial statements, operating income swung from $437.8 million in 2026Q1 to $958.0 million in 2025Q3, a range that outpaces revenue movement and points to meaningful operating leverage on fixed-cost absorption.
Because operating income moves more than revenue in both directions, the cost base appears heavily fixed, consistent with the high-tooling, high-facility model described in the company profile. SG&A has remained relatively steady in the $487 million to $595 million range, suggesting overhead is not the primary driver of swings. The implication is that volume utilization, rather than corporate cost discipline, governs near-term profitability.
Net Income Volatility Raises Quality Questions
Based on EPS figures shown, diluted earnings per share moved from $1.68 in 2024Q3 to a near-zero $-0.00 in 2025Q4 and negative $-0.04 in 2026Q1, a swing far larger than the operating income movement.
The gap between operating income and net income in several periods suggests that non-operating items, equity-accounted earnings, tax effects, or restructuring charges are material contributors. Stock-based compensation is reported as zero in the supplied data, so it cannot explain the volatility, and that absence should be treated as data unavailable rather than a clean signal. Analysts should reconcile reported net income against operating results before extrapolating recent earnings levels.
Margin Compression Could Persist Longer
The strongest challenge to the narrative is that net margins of 1.5% to 4.8% across these periods, against a peer set where Autoliv and Visteon earn 5.3% to 6.8%, may reflect structurally limited pricing power rather than temporary weakness.
If recent gains prove to be cost actions or favorable timing, the thin net margin would remain the central constraint on valuation. Persistent European labor and energy inflation and customer concentration could continue to cap gross margin near the lower end of its historical band. Investors should treat the recent earnings beat as a single-period signal until revenue growth and margin expansion confirm it over several quarters.