Despite achieving a 9.1% revenue increase in 2026Q1, the company continues to face structural margin pressure, with net margins remaining thin at 3.8%.
| 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 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 1.83B | 1.79B | 1.46B | 1.36B | 1.37B | 1.3B | 1.13B | 1.14B | 1.09B | 1.12B | 1.06B | 971.98M | 980.39M | 983.7M | 948.92M | 874.63M | 810.91M | 735.42M | 775.24M | 790.18M | 812.02M | 830.41M | 824.28M | 678.78M | 598.44M | 608.07M | 606.45M | 658.2M | 649.4M | 559.8M | 721.8M |
| Revenue Growth % | 18.32% | 22.36% | 7.77% | -0.99% | 5.62% | 15.08% | -0.82% | 4.2% | -2.16% | 5.45% | 8.9% | -0.86% | -0.34% | 3.67% | 8.49% | 7.86% | 10.26% | -5.14% | -1.89% | -2.69% | -2.21% | 0.74% | 21.44% | 13.43% | -1.58% | 0.27% | -7.86% | 1.36% | 16.01% | -22.44% | 8.79% |
| Cost of Goods Sold | 1.27B | 1.25B | 1.05B | 978.75M | 998.58M | 930.88M | 800.43M | 814.51M | 779.26M | 789.49M | 743.1M | 695.89M | 695.76M | 698.25M | 693.95M | 645.48M | 603.3M | 558.2M | 591.09M | 587.91M | 606.8M | 644.43M | 629.29M | 504.01M | 440.89M | 438.21M | 397.04M | 448.9M | 426.5M | 361.3M | 470.7M |
| COGS % of Revenue | - | 69.8% | 71.76% | 72.06% | 72.79% | 71.67% | 70.92% | 71.58% | 71.36% | 70.73% | 70.2% | 71.6% | 70.97% | 70.98% | 73.13% | 73.8% | 74.4% | 75.9% | 76.25% | 74.4% | 74.73% | 77.6% | 76.34% | 74.25% | 73.67% | 72.07% | 65.47% | 68.2% | 65.68% | 64.54% | 65.21% |
| Gross Profit | 559.86M | 541.01M | 413.32M | 379.53M | 373.24M | 367.93M | 328.15M | 323.4M | 312.79M | 326.66M | 315.39M | 276.09M | 284.63M | 285.45M | 254.97M | 229.15M | 207.61M | 177.22M | 184.16M | 202.28M | 205.22M | 185.98M | 194.99M | 174.77M | 157.54M | 169.86M | 209.41M | 209.3M | 222.9M | 198.5M | 251.1M |
| Gross Margin % | 30.61% | 30.2% | 28.24% | 27.94% | 27.21% | 28.33% | 29.08% | 28.42% | 28.64% | 29.27% | 29.8% | 28.4% | 29.03% | 29.02% | 26.87% | 26.2% | 25.6% | 24.1% | 23.75% | 25.6% | 25.27% | 22.4% | 23.66% | 25.75% | 26.33% | 27.93% | 34.53% | 31.8% | 34.32% | 35.46% | 34.79% |
| Gross Profit Growth % | - | 30.89% | 8.9% | 1.68% | 1.44% | 12.12% | 1.47% | 3.39% | -4.25% | 3.57% | 14.23% | -3% | -0.29% | 11.96% | 11.27% | 10.38% | 17.14% | -3.76% | -8.96% | -1.44% | 10.35% | -4.62% | 11.57% | 10.94% | -7.25% | -18.89% | 0.05% | -6.1% | 12.29% | -20.95% | 7.72% |
| Operating Expenses | 375.75M | 356.96M | 274.1M | 238.28M | 235.33M | 227.05M | 203.97M | 204.31M | 206.94M | 224.24M | 214.56M | 201.39M | 188.53M | 196.26M | 182.79M | 163.9M | 159.43M | 146.64M | 166.2M | 168.95M | 168.05M | 166.56M | 178.85M | 153.3M | 132.48M | 154.31M | 178.74M | 179.8M | 179M | 189M | 214.3M |
| OpEx % of Revenue | - | 19.93% | 18.72% | 17.54% | 17.15% | 17.48% | 18.07% | 17.96% | 18.95% | 20.09% | 20.27% | 20.72% | 19.23% | 19.95% | 19.26% | 18.74% | 19.66% | 19.94% | 21.44% | 21.38% | 20.7% | 20.06% | 21.7% | 22.59% | 22.14% | 25.38% | 29.47% | 27.32% | 27.56% | 33.76% | 29.69% |
| Selling, General & Admin | 375.75M | 356.96M | 274.1M | 238.28M | 235.33M | 227.05M | 203.97M | 204.31M | 206.94M | 224.24M | 214.56M | 201.39M | 188.53M | 196.26M | 182.79M | 163.84M | 159.43M | 146.64M | 166.2M | 168.95M | 168.05M | 166.56M | 178.85M | 153.3M | 129.14M | 154.31M | 159.82M | 162.6M | 161.7M | 170M | 198M |
| SG&A % of Revenue | - | 19.93% | 18.72% | 17.54% | 17.15% | 17.48% | 18.07% | 17.96% | 18.95% | 20.09% | 20.27% | 20.72% | 19.23% | 19.95% | 19.26% | 18.73% | 19.66% | 19.94% | 21.44% | 21.38% | 20.7% | 20.06% | 21.7% | 22.59% | 21.58% | 25.38% | 26.35% | 24.7% | 24.9% | 30.37% | 27.43% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 59K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.33M | 0 | 18.92M | 17.2M | 17.3M | 19M | 16.3M |
| Operating Income | 184.11M | 184.05M | 139.22M | 141.24M | 137.91M | 140.88M | 124.19M | 119.08M | 105.85M | 102.42M | 100.83M | 74.7M | 96.11M | 89.2M | 72.17M | 65.24M | 48.17M | 30.58M | 17.96M | 33.33M | 37.17M | 19.42M | 16.14M | 15.81M | 25.07M | 15.54M | 30.66M | 29.5M | 43.9M | 9.5M | 36.8M |
| Operating Margin % | 10.07% | 10.28% | 9.51% | 10.4% | 10.05% | 10.85% | 11% | 10.47% | 9.69% | 9.18% | 9.53% | 7.69% | 9.8% | 9.07% | 7.61% | 7.46% | 5.94% | 4.16% | 2.32% | 4.22% | 4.58% | 2.34% | 1.96% | 2.33% | 4.19% | 2.56% | 5.06% | 4.48% | 6.76% | 1.7% | 5.1% |
| Operating Income Growth % | - | 32.2% | -1.43% | 2.41% | -2.11% | 13.45% | 4.28% | 12.5% | 3.35% | 1.58% | 34.98% | -22.27% | 7.74% | 23.59% | 10.62% | 35.43% | 57.52% | 70.31% | -46.12% | -10.35% | 91.37% | 20.34% | 2.06% | -36.91% | 61.28% | -49.31% | 3.95% | -32.8% | 362.11% | -74.18% | 13.23% |
| EBITDA | 229M | 227.9M | 170.63M | 170.26M | 166.21M | 168.13M | 150.51M | 144.89M | 129.96M | 126.33M | 121.29M | 92.34M | 113.4M | 106.79M | 88.64M | 79.39M | 61.75M | 44.94M | 32.66M | 48.51M | 52.66M | 36.78M | 35.15M | 32.91M | 41.2M | 34.45M | 49.59M | 46.7M | 61.2M | 28.5M | 53.1M |
| EBITDA Margin % | 12.52% | 12.72% | 11.66% | 12.54% | 12.12% | 12.94% | 13.34% | 12.73% | 11.9% | 11.32% | 11.46% | 9.5% | 11.57% | 10.86% | 9.34% | 9.08% | 7.61% | 6.11% | 4.21% | 6.14% | 6.48% | 4.43% | 4.26% | 4.85% | 6.88% | 5.67% | 8.18% | 7.1% | 9.42% | 5.09% | 7.36% |
| EBITDA Growth % | 25.84% | 33.56% | 0.21% | 2.44% | -1.14% | 11.71% | 3.87% | 11.5% | 2.87% | 4.16% | 31.35% | -18.57% | 6.19% | 20.48% | 11.65% | 28.57% | 37.41% | 37.6% | -32.67% | -7.88% | 43.17% | 4.63% | 6.83% | -20.12% | 19.58% | -30.52% | 6.18% | -23.69% | 114.74% | -46.33% | 14.94% |
| D&A (Non-Cash Add-back) | 44.9M | 43.85M | 31.41M | 29.02M | 28.3M | 27.24M | 26.32M | 25.81M | 24.1M | 23.92M | 20.46M | 17.64M | 17.3M | 17.59M | 16.47M | 14.14M | 13.57M | 14.35M | 14.7M | 15.18M | 15.49M | 17.36M | 19.01M | 17.09M | 16.13M | 18.91M | 18.92M | 17.2M | 17.3M | 19M | 16.3M |
| EBIT | 184.11M | 184.05M | 84.98M | 92.63M | 108.95M | 132.49M | 109.71M | 97.08M | 80.86M | 98.77M | 100.13M | 75.64M | 83.37M | 86.86M | 70.73M | 68.27M | 47.22M | 21.21M | -15.62M | 27.07M | 34.93M | 16.73M | 1.12M | 21.47M | 25.07M | 15.12M | 30.71M | 29.54M | 43.9M | 9.5M | 44.7M |
| Net Interest Income | -31.79M | -31.54M | -10.12M | -10.4M | -10.41M | -1.98M | -2.22M | -5.19M | -3.95M | -2.24M | -1.4M | -1.39M | -1.32M | -1.6M | -2.62M | -3.79M | -6.83M | -8.81M | -13.56M | -17.36M | -18.78M | -16.77M | -12.96M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 1.31M | 871K | 517K | 209K | 49K | 109K | 97K | 80K | 91K | 153K | 151K | 296K | 302K | 167K | 28K | 296K | 400K | 20K | 687K | 498K | 311K | 752K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 31.79M | 32.84M | 10.99M | 10.91M | 10.62M | 2.03M | 2.33M | 5.29M | 4.03M | 2.33M | 1.56M | 1.54M | 1.62M | 1.9M | 2.79M | 3.82M | 7.13M | 9.21M | 13.59M | 18.04M | 19.27M | 17.08M | 13.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -67.24M | -73.53M | -65.23M | -59.53M | -39.58M | -10.42M | -16.81M | -27.29M | -29.02M | -5.98M | -2.26M | -598K | -14.35M | -4.24M | -4.23M | -795K | -8.08M | -18.58M | -47.16M | -25.1M | -21.51M | -19.77M | -28.73M | -14.38M | -11.06M | -14.67M | -17.59M | -17.52M | -18M | -13.5M | -3.5M |
| Pretax Income | 116.87M | 110.52M | 73.99M | 81.72M | 98.33M | 130.47M | 107.38M | 91.8M | 76.83M | 96.44M | 98.57M | 74.1M | 81.75M | 84.96M | 67.95M | 64.45M | 40.09M | 12M | -29.2M | 8.23M | 15.66M | -347K | -12.59M | 1.43M | 14.01M | 456K | 13.12M | 12M | 25.9M | -4M | 19.8M |
| Pretax Margin % | 6.39% | 6.17% | 5.05% | 6.02% | 7.17% | 10.04% | 9.51% | 8.07% | 7.04% | 8.64% | 9.31% | 7.62% | 8.34% | 8.64% | 7.16% | 7.37% | 4.94% | 1.63% | -3.77% | 1.04% | 1.93% | -0.04% | -1.53% | 0.21% | 2.34% | 0.07% | 2.16% | 1.82% | 3.99% | -0.71% | 2.74% |
| Income Tax | 32.37M | 30.62M | 19.39M | 18.37M | 25.21M | 31.04M | 26.96M | 22.75M | 19.98M | 52.81M | 36.16M | 25.98M | 28.85M | 31.92M | 24.98M | 121K | 15.39M | 6.09M | -8.11M | 2.8M | 6.49M | 1.42M | -3.68M | 1.21M | 7.92M | 144K | 2.89M | 3.3M | 3.6M | -2.4M | 5.1M |
| Effective Tax Rate % | 27.7% | 27.7% | 26.2% | 22.48% | 25.63% | 23.79% | 25.11% | 24.78% | 26% | 54.76% | 36.68% | 35.06% | 35.29% | 37.57% | 36.76% | 0.19% | 38.39% | 50.78% | 27.75% | 34% | 41.48% | -410.09% | 29.23% | 84.35% | 56.53% | 31.58% | 22% | 27.5% | 13.9% | 60% | 25.76% |
| Net Income | 45.91M | 41.34M | 53.63M | 63.14M | 73.04M | 90.89M | 57.39M | 57.92M | 43M | 37.98M | 60.43M | 46.02M | 43.03M | 51.45M | 41.35M | 62.4M | 21.96M | 3.48M | -22.89M | 2.27M | 9.41M | -3.54M | -12.82M | -1.52M | -30.56M | -2.48M | 9.73M | 7.6M | 22.3M | -34.5M | 14.7M |
| Net Margin % | 2.51% | 2.31% | 3.66% | 4.65% | 5.32% | 7% | 5.09% | 5.09% | 3.94% | 3.4% | 5.71% | 4.73% | 4.39% | 5.23% | 4.36% | 7.13% | 2.71% | 0.47% | -2.95% | 0.29% | 1.16% | -0.43% | -1.55% | -0.22% | -5.11% | -0.41% | 1.6% | 1.15% | 3.43% | -6.16% | 2.04% |
| Net Income Growth % | -18.51% | -22.92% | -15.07% | -13.55% | -19.63% | 58.36% | -0.9% | 34.68% | 13.24% | -37.16% | 31.32% | 6.95% | -16.37% | 24.42% | -33.73% | 184.16% | 530.49% | 115.21% | -1106.33% | -75.83% | 365.47% | 72.34% | -744.27% | 95.03% | -1129.62% | -125.54% | 28.01% | -65.92% | 164.64% | -334.69% | -8.7% |
| Net Income (Continuing) | 84.5M | 79.91M | 54.6M | 63.35M | 73.13M | 99.42M | 80.42M | 69.05M | 56.85M | 43.63M | 62.41M | 48.12M | 52.9M | 53.04M | 42.97M | 64.33M | 24.7M | 5.91M | -21.1M | 5.43M | 9.16M | -1.77M | -8.91M | 224K | 6.09M | 312K | 10.23M | 8.69M | 22.3M | -1.6M | 23.9M |
| Discontinued Operations | -4M | -37.7M | 0 | 0 | 0 | -8.47M | -23.02M | -11.13M | -13.85M | -5.65M | -1.98M | -2.1M | -9.87M | -1.59M | -1.62M | -1.93M | -2.74M | -2.42M | -1.8M | -3.16M | 248K | -1.77M | -3.91M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 14.25M | 14.56M | 14.34M | 15.81M | 11.02M | 11.05M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -500K | -400K | -400K |
| EPS (Diluted) | 2.02 | 1.84 | 2.41 | 2.85 | 3.30 | 4.02 | 2.51 | 2.54 | 1.88 | 1.64 | 2.62 | 1.99 | 1.85 | 2.21 | 1.79 | 2.70 | 0.97 | 0.18 | -1.24 | 0.12 | 0.51 | -0.18 | -0.66 | -0.10 | -2.54 | -0.21 | 0.81 | 0.58 | 1.69 | -2.63 | 1.12 |
| EPS Growth % | -19.88% | -23.7% | -15.36% | -13.63% | -17.9% | 59.82% | -0.94% | 35.35% | 14.56% | -37.52% | 31.66% | 7.57% | -16.29% | 23.46% | -33.7% | 178.35% | 438.89% | 114.52% | -1133.33% | -76.47% | 383.33% | 72.73% | -586.78% | 96.22% | -1109.52% | -125.93% | 39.66% | -65.68% | 164.26% | -334.82% | -8.94% |
| EPS (Basic) | - | 1.88 | 2.46 | 2.91 | 3.37 | 4.10 | 2.57 | 2.59 | 1.92 | 1.67 | 2.66 | 2.02 | 1.88 | 2.24 | 1.81 | 2.74 | 0.97 | 0.18 | -1.24 | 0.12 | 0.51 | -0.18 | -0.66 | -0.10 | -2.56 | -0.21 | 0.82 | 0.58 | 1.70 | -2.63 | 1.12 |
| Diluted Shares Outstanding | 22.72M | 22.48M | 22.24M | 22.16M | 22.14M | 22.62M | 22.83M | 22.82M | 22.93M | 23.2M | 23.08M | 23.14M | 23.24M | 23.27M | 23.05M | 23.23M | 22.63M | 19.39M | 18.53M | 18.59M | 18.33M | 19.51M | 19.33M | 15.79M | 12.01M | 11.82M | 12.01M | 13.15M | 13.17M | 13.12M | 13.13M |
| Basic Shares Outstanding | 22.17M | 21.99M | 21.8M | 21.72M | 21.68M | 22.15M | 22.37M | 22.38M | 22.46M | 22.73M | 22.72M | 22.81M | 22.9M | 22.97M | 22.81M | 22.79M | 22.56M | 19.34M | 18.5M | 18.53M | 18.28M | 19.51M | 19.33M | 15.74M | 11.91M | 11.76M | 11.86M | 13.15M | 13.08M | 13.12M | 13.13M |
| Dividend Payout Ratio | - | 65.98% | 47.25% | 39.85% | 32.07% | 24.4% | 19.55% | 35.56% | 43.84% | 45.52% | 25.56% | 29.76% | 27.67% | 19.64% | 19.87% | 10.23% | 20.53% | - | - | 293.76% | 69.91% | - | - | - | - | - | 44.44% | 59.21% | 9.42% | - | 29.25% |
Margin compression from scale
As reported in recent financial filings, Standard Motor Products achieved a notable 22.36% year-over-year revenue growth, suggesting that the company is successfully capturing market share or implementing effective pricing strategies despite the inherent cyclicality of the automotive aftermarket and the ongoing transition toward more complex electronic components.
The consistent top-line growth observed over the last several quarters indicates that the company's focus on long-tail SKUs and engine management electronics is resonating with demand. However, investors should monitor whether this growth is sustainable or if it reflects temporary inventory stocking patterns by major retail partners.
Based on the provided income statement data, SMP's gross margin has hovered around 30%, yet the net margin remains thin at 2.31%, which suggests that the company struggles to translate its top-line expansion into meaningful bottom-line profitability due to high operating costs and potential integration friction.
The discrepancy between gross and net margins implies that significant overhead or non-operating expenses are eroding the value created at the product level. This warrants further investigation into whether the company's domestic manufacturing footprint is creating a structural disadvantage compared to more agile, lower-cost competitors.
According to the quarterly income statement, operating expenses have scaled alongside revenue, preventing significant operating margin expansion and suggesting that the company has yet to achieve the economies of scale necessary to improve its profitability profile despite the recent 22.36% surge in top-line performance.
The lack of meaningful operating leverage indicates that the company's cost structure is largely fixed or that recent growth initiatives are requiring heavy reinvestment. Analysts should watch for signs of SG&A efficiency as the company attempts to integrate its specialized OE initiatives into the broader business.
As indicated by the historical income statements, SMP's net income has experienced significant volatility, including negative earnings in 2025Q3, which appears to be driven by non-operating items or one-time charges that obscure the underlying cash-generating capability of the core engine management and temperature control segments.
The presence of stock-based compensation and periodic net losses suggests that reported EPS may not always reflect the company's true operational health. Investors should focus on operating income trends to better understand the underlying performance of the business, stripping away the noise of non-recurring accounting adjustments.
Quick answers to the most common questions about buying SMP stock.
For fiscal year 2025, Standard Motor Products, Inc. (SMP) reported total revenue of $1.79B. This represents a 148.2% increase compared to $721.8M in 1996.
Standard Motor Products, Inc. (SMP) is profitable, generating $41.3M in net income for the fiscal year ending 2025 with a net profit margin of 2.3%.
Standard Motor Products, Inc. (SMP) reported an operating income of $184.0M, resulting in an operating profit margin of 10.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Standard Motor Products, Inc. (SMP) generated $541.0M in gross profit for the year, representing a gross profit margin of 30.2%. This demonstrates the company's core pricing power and production efficiency.