Cash flow generation remains highly volatile, evidenced by a negative 9.7% free cash flow margin in 2026Q1 despite a $59.2M inflow from asset divestitures.
| 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 |
|---|
| Cash from Operations | 8.43M | 34.02M | 47.75M | 4.95M | 6.81M | -36.25M | 28.64M | 24.5M | 80.77M | 78.91M | 65.28M | 54.8M | 19.82M | 43.68M | 75.55M | 921K | 13.85M | 13.82M | 42.46M | 33.52M | 46.54M | 19.06M | 48.28M | 72.35M | 95.63M | 62.65M | 52.4M | 44.2M | 46M | 63.8M | 25.3M |
| Operating CF Margin % | - | 3.95% | 5.26% | 0.51% | 0.76% | -4.7% | 4.42% | 2.94% | 9.32% | 9.57% | 9.38% | 8.5% | 3% | 4.61% | 8.05% | 0.12% | 2.18% | 2.91% | 5.64% | 4.61% | 6.57% | 2.84% | 7.08% | 11.93% | 15.02% | 10.72% | 7.85% | 6.55% | 9.13% | 14.19% | 6.96% |
| Operating CF Growth % | -331.87% | -28.75% | 865.39% | -27.33% | 118.78% | -226.56% | 16.88% | -69.66% | 2.36% | 20.88% | 19.11% | 176.58% | -54.64% | -42.17% | 8102.5% | -93.35% | 0.2% | -67.44% | 26.64% | -27.97% | 144.16% | -60.52% | -33.28% | -24.34% | 52.63% | 19.56% | 18.56% | -3.91% | -27.9% | 152.17% | - |
| Net Income | -113.4M | -102.83M | -16.52M | -5.18M | -14.06M | 3.41M | -7.95M | 60.29M | 53.85M | 45.05M | 75.57M | 20.57M | -60.59M | 16.51M | 3.75M | 45.54M | 10.63M | -32.32M | -97.53M | 16.67M | 14.51M | 933K | -92.5M | 21.38M | -48.78M | 2.95M | 32.71M | 41.2M | 33.4M | 47M | 24.1M |
| Depreciation & Amortization | 32.41M | 33.69M | 34.99M | 33.69M | 34.77M | 34.47M | 33.23M | 31.48M | 29.52M | 28.25M | 23.61M | 22.8M | 30.08M | 35.23M | 35.32M | 18.85M | 19.07M | 20.93M | 27.52M | 29.82M | 27.56M | 27.42M | 26.76M | 25.08M | 26.41M | 29.57M | 28.68M | 27.9M | 14.4M | 13.2M | 10M |
| Stock-Based Compensation | 7.24M | 4.8M | 4.09M | 3.32M | 5.94M | 5.96M | 5.89M | 6.19M | 5.63M | 7.26M | 6.13M | 7.22M | 5.41M | 4.97M | 4.89M | 4.42M | 2.27M | 1.25M | 3.42M | 2.43M | 1.95M | 1.7M | 1.39M | 1.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 37.3M | 37.08M | -5.74M | -4.04M | -5.11M | -511K | -7.95M | 5.59M | 968K | -6.82M | -39.72M | -2.17M | -3.24M | -3.08M | -2.73M | 23.94M | -778K | -3.2M | 46.24M | 3.82M | 3.47M | 815K | -57.56M | 8.8M | 12.41M | 7.05M | 7.17M | 8.9M | -1.7M | -1.1M | 0 |
| Other Non-Cash Items | 21.83M | 21.91M | 1.8M | 1.08M | 1.13M | -35.98M | -2.24M | -34.26M | -1.29M | 4.05M | -1.19M | -324K | 69.94M | -287K | -1.03M | -68.63M | -2.46M | -255K | 56.1M | -7.01M | -7.63M | -2.25M | 182M | -794K | 74.49M | 84K | -995K | -100K | 100K | -2.5M | 400K |
| Working Capital Changes | 23.05M | 39.38M | 29.13M | -23.93M | -15.87M | -43.59M | 7.67M | -44.79M | -7.9M | 1.1M | 865K | 6.71M | -21.78M | -9.65M | 35.35M | -23.19M | -14.88M | 27.42M | 6.71M | -12.21M | 6.67M | -9.55M | -11.8M | 16.59M | 31.09M | 23M | -15.16M | -33.7M | -200K | 7.2M | -9.2M |
| Change in Receivables | -17.52M | 17.34M | 20.17M | -5.85M | -13.16M | -17.02M | 4.16M | -1.35M | -3.58M | -15.16M | -18.69M | -489K | -19.4M | 4.12M | 19.47M | -11.66M | -21.01M | 16.62M | 20.09M | -13.42M | -2.74M | -3.52M | -9.51M | -6.7M | 14.85M | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 20.09M | 30.77M | 26.9M | -31.56M | -20.13M | -51.27M | 4M | -15.65M | -10M | -2.13M | 4.52M | -4.34M | 3.16M | -23.65M | 21M | -9.89M | -11.59M | 17.25M | -1.79M | 933K | -2.35M | 517K | -6.39M | 4.88M | 5.22M | 14.46M | -5.91M | -3.6M | -1.9M | -4M | -3.7M |
| Change in Payables | 22.39M | -8.78M | -24.62M | 1.09M | 18.49M | 16.52M | 3.64M | -6.98M | 11.05M | 10.49M | 10.98M | 6.58M | 524K | 9.48M | -7.28M | -23.88M | 16.7M | -2.11M | -14.77M | -4.88M | 14.08M | 505K | 2.6M | 8.27M | -9.19M | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 42.43M | -21.82M | -24.47M | -36.98M | -28.58M | 28.04M | -33.88M | -6.3M | -27.95M | -108.64M | -23.82M | -30.37M | 45.72M | -25.24M | -45.61M | -29.78M | -18.52M | -17.76M | -23.9M | -5.83M | -24.61M | -27.55M | -19.92M | -25.17M | -14.34M | -23.92M | -25.76M | -51.8M | -368.7M | -27.7M | -18.1M |
| Capital Expenditures | -16.62M | -21.85M | -24.3M | -38.5M | -31.61M | -27.03M | -32.46M | -39.47M | -29.03M | -32.17M | -24.48M | -28.73M | -24.75M | -25.34M | -26.35M | -26.29M | -18.57M | -12M | -24.57M | -18.14M | -25.89M | -28.93M | -23.92M | -26.38M | -14.66M | -23.97M | -28.72M | -51.8M | -372.4M | -12.3M | -14.1M |
| CapEx % of Revenue | 2.07% | 2.54% | 2.68% | 3.95% | 3.51% | 3.51% | 5.01% | 4.73% | 3.35% | 3.9% | 3.52% | 4.46% | 3.75% | 2.67% | 2.81% | 3.43% | 2.92% | 2.53% | 3.26% | 2.49% | 3.65% | 4.31% | 3.51% | 4.35% | 2.3% | 4.1% | 4.3% | 7.67% | 73.92% | 2.74% | 3.88% |
| Acquisitions | 59.23M | 399K | 0 | 0 | 0 | 22.84M | 0 | 34.39M | 111K | -77.26M | 652K | -1.7M | 70.36M | 0 | -19.78M | -7.75M | 0 | -5.97M | -980K | 0 | -2.13M | -282K | 0 | 0 | 0 | 44K | 786K | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 98K | 0 | -24.47M | 1.87M | 158K | 14.44M | 127K | 382K | 1.51M | 788K | 652K | 64K | 110K | 107K | 521K | 4.26M | 56K | 201K | 1.65M | 12.31M | 2.27M | 1.66M | 3.99M | 1.21M | 313K | 0 | 2.18M | 0 | 3.7M | 2.3M | -4M |
| Cash from Financing | -50M | -25.3M | 11.12M | 17.48M | -7.3M | 22.88M | 6.51M | -28.26M | -33.87M | 40.78M | -43.37M | -11.02M | -82.06M | -503K | -65.47M | 37.52M | -14.03M | 336K | -16.23M | 900K | 107K | -358K | -1.04M | -51.65M | -59.17M | -39.84M | -24.5M | 9.7M | 323.3M | -35.2M | -7.1M |
| Debt Issued (Net) | -47.64M | -24.18M | 11.92M | 21.46M | 254K | 25.56M | 13.28M | 29.25M | -29.66M | 45.17M | -42.92M | -8.05M | -80.21M | 13K | -64.2M | 38.88M | -11.91M | 336K | -17M | 0 | -44K | -118K | -524K | -52.09M | -43.21M | -36.79M | -24.5M | 9.6M | 334.5M | -49.7M | 5.9M |
| Equity Issued (Net) | -121K | -340K | -795K | -1.72M | -791K | -2.67M | -6.77M | -54.12M | -4.21M | -2.48M | -1.42M | -2.92M | -765K | -516K | -1.27M | -752K | -826K | 0 | 1.32M | 2.12M | 301K | 1K | -380K | 444K | 0 | 0 | 0 | 0 | 0 | 119.5M | 200K |
| Dividends Paid | 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 | -2.6M | -105M | -13.2M |
| Share Repurchases | -121K | -340K | -795K | -1.72M | -791K | -2.67M | -6.77M | -54.12M | -4.21M | -2.48M | -1.42M | -2.92M | -765K | -516K | -1.27M | -752K | -826K | 0 | 0 | 0 | 0 | 0 | -380K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -2.24M | -777K | 0 | -2.25M | -6.76M | -18K | 0 | -3.39M | 0 | -1.91M | 977K | -49K | -1.08M | 0 | 0 | -605K | -1.29M | 0 | -553K | -1.22M | -150K | -241K | -134K | 0 | -15.97M | -3.05M | 0 | 100K | -8.6M | 0 | 0 |
| Net Change in Cash | -8.57M | -5.58M | 30.99M | -13.96M | -30.75M | 11.63M | 4.52M | -11.69M | 15.09M | 15.61M | -3.97M | 11.34M | -19.8M | 18.27M | -34.18M | 6.86M | -19.93M | -785K | -3.23M | 30.04M | 25.1M | -11.55M | 28.19M | -3.09M | 22.87M | -1.23M | 1.67M | 2M | 500K | 900K | 100K |
| Free Cash Flow | -8.19M | 12.17M | 23.45M | -33.55M | -24.8M | -63.28M | -3.82M | -14.96M | 51.74M | 46.74M | 40.8M | 26.07M | -4.94M | 18.34M | 49.19M | -25.37M | -4.72M | 1.83M | 17.88M | 15.38M | 20.64M | -9.87M | 24.36M | 45.97M | 80.97M | 38.68M | 23.68M | -7.6M | -326.4M | 51.5M | 11.2M |
| FCF Margin % | -1.02% | 1.41% | 2.58% | -3.44% | -2.76% | -8.21% | -0.59% | -1.79% | 5.97% | 5.67% | 5.86% | 4.04% | -0.75% | 1.93% | 5.24% | -3.31% | -0.74% | 0.38% | 2.38% | 2.12% | 2.91% | -1.47% | 3.57% | 7.58% | 12.72% | 6.62% | 3.55% | -1.13% | -64.79% | 11.46% | 3.08% |
| FCF Growth % | -132.8% | -48.08% | 169.88% | -35.27% | 60.8% | -1556.08% | 74.46% | -128.91% | 10.71% | 14.55% | 56.51% | 627.84% | -126.93% | -62.72% | 293.91% | -437.14% | -358.65% | -89.79% | 16.24% | -25.48% | 309.11% | -140.53% | -47.01% | -43.22% | 109.31% | 63.34% | 411.61% | 97.67% | -733.79% | 359.82% | - |
| FCF per Share | -0.29 | 0.44 | 0.85 | -1.22 | -0.91 | -2.31 | -0.14 | -0.53 | 1.78 | 1.62 | 1.44 | 0.93 | -0.18 | 0.67 | 1.82 | -1.03 | -0.19 | 0.08 | 0.77 | 0.65 | 0.90 | -0.43 | 1.08 | 2.03 | 3.59 | 1.71 | 1.06 | -0.34 | -14.52 | 3.20 | 0.80 |
| FCF Conversion (FCF/Net Income) | 0.07x | -0.33x | -2.89x | -0.95x | -0.48x | -10.64x | -3.60x | 0.41x | 1.50x | 1.75x | 0.84x | 2.41x | -0.42x | 2.89x | 14.09x | 0.02x | 1.28x | -0.43x | -0.44x | 2.01x | 3.21x | 20.43x | -0.52x | 3.38x | -1.96x | 21.27x | 1.60x | 1.07x | 1.38x | 1.36x | 1.05x |
| Interest Paid | 15.23M | 14.17M | 15.46M | 13.01M | 7.29M | 6.05M | 5.62M | 4.4M | 5M | 5.75M | 5.79M | 6.09M | 20.46M | 18.63M | 20.32M | 17.49M | 20.75M | 21.97M | 20.05M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 9.92M | 10.34M | 9.26M | 10.3M | 6.18M | 11.27M | 0 | 12.22M | 13.21M | 7.09M | 3.39M | 2.49M | 3.05M | 6.43M | 4.34M | 1.36M | 1.21M | 2.32M | 4.47M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Persistent negative operating cash
According to the provided cash flow data, Stoneridge exhibits a persistent disconnect between net income and operating cash flow, with the 2026Q1 OCF/NI ratio of 0.83 highlighting the company's struggle to convert accounting losses into meaningful cash generation during this period of operational transition.
The recurring divergence between net losses and operating cash flow suggests that non-cash charges and working capital adjustments are masking the underlying cash burn. Investors should monitor whether this pattern indicates an inability to achieve sustainable profitability or merely reflects the timing of cash-intensive R&D investments.
As reported in financial statements, Stoneridge's free cash flow trajectory remains highly unstable, with margins swinging from a peak of 6.4% in 2024Q4 to a negative 9.7% in 2026Q1, underscoring the company's vulnerability to cyclical demand shifts and high fixed-cost overhead.
The inability to maintain positive free cash flow suggests that the company's current business model is not yet self-funding. This volatility warrants further investigation into whether the recent cash burn is a temporary byproduct of strategic investment or a structural failure to scale.
Based on reported figures, Stoneridge's working capital dynamics have shifted from a source of cash in 2025 to a significant drain of $6.6M in 2026Q1, suggesting that inventory or receivables management may be deteriorating as the company navigates a challenging commercial vehicle production environment.
The reversal in working capital trends appears to be exacerbating the company's liquidity constraints during a period of negative net income. Analysts should scrutinize whether this reflects an intentional build-up of inventory for future product launches or an involuntary accumulation of obsolete components.
As evidenced by the cash flow statements, Stoneridge has prioritized divestiture proceeds, such as the $59.2M inflow in 2026Q1, over traditional capital returns, while maintaining minimal share repurchases that appear inconsistent with the company's current negative earnings and cash flow profile.
The reliance on asset sales to bolster the balance sheet suggests that internal operations are currently insufficient to fund the company's strategic objectives. Investors should monitor whether these divestitures are sustainable or if they represent a one-time liquidation of assets to bridge the current funding gap.
Quick answers to the most common questions about buying SRI stock.
Stoneridge, Inc. (SRI) generated $34.0M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Stoneridge, Inc. (SRI) generated $12.2M 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.
Stoneridge, Inc. (SRI) spent $21.9M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Stoneridge, Inc. (SRI) spent $0.3M on share repurchases. This shows the company's commitment to returning capital to its equity investors.