Revenue has hovered between $129.9M and $152.4M with gross margin recovering from 13.0% to a 17.3% peak before easing to 16.5%, yet operating margin fell to 4.4% in 2027Q1 as SG&A climbed to $17.9M, warranting further investigation of overhead discipline.
Strattec Security Corporation (STRT) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Jun'26 | Jun'25 | Jun'24 | Jul'23 | Jul'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 | Jun'02 | Jun'01 | Jun'00 | Jun'99 | Jun'98 | Jun'97 |
|---|
| Sales/Revenue | 574.19M | 579.39M | 565.07M | 537.77M | 492.95M | 452.26M | 485.3M | 385.3M | 487.01M | 439.19M | 417.32M | 401.42M | 411.48M | 348.42M | 298.18M | 279.23M | 260.93M | 207.96M | 126.1M | 159.64M | 167.71M | 181.2M | 190.31M | 195.65M | 196.83M | 207.29M | 202.97M | 224.82M | 202.6M | 186.8M | 159.1M |
| Revenue Growth % | -0.73% | 2.54% | 5.08% | 9.09% | 8.99% | -6.81% | 25.95% | -20.88% | 10.89% | 5.24% | 3.96% | -2.44% | 18.1% | 16.85% | 6.78% | 7.01% | 25.47% | 64.92% | -21.01% | -4.81% | -7.44% | -4.79% | -2.73% | -0.6% | -5.05% | 2.12% | -9.72% | 10.97% | 8.46% | 17.41% | 13.89% |
| Cost of Goods Sold | 480.85M | 484.03M | 480.49M | 472.3M | 450.79M | 396.25M | 406.64M | 349.85M | 429.21M | 384.75M | 357.16M | 336.59M | 338.81M | 282.62M | 244.31M | 228.97M | 218.77M | 174.92M | 112.86M | 134.09M | 141.21M | 144.15M | 147.62M | 148.16M | 151.47M | 163.37M | 162.74M | 167.75M | 148.7M | 140.1M | 120.1M |
| COGS % of Revenue | - | 83.54% | 85.03% | 87.83% | 91.45% | 87.61% | 83.79% | 90.8% | 88.13% | 87.6% | 85.58% | 83.85% | 82.34% | 81.12% | 81.94% | 82% | 83.84% | 84.11% | 89.5% | 83.99% | 84.2% | 79.55% | 77.57% | 75.73% | 76.95% | 78.81% | 80.18% | 74.61% | 73.4% | 75% | 75.49% |
| Gross Profit | 93.34M | 95.36M | 84.58M | 65.47M | 42.15M | 56.02M | 78.66M | 35.45M | 57.8M | 54.44M | 60.16M | 64.83M | 72.66M | 65.8M | 53.87M | 50.26M | 42.16M | 33.04M | 13.24M | 25.55M | 26.49M | 37.05M | 42.7M | 47.49M | 45.36M | 43.92M | 40.24M | 57.07M | 53.9M | 46.7M | 39M |
| Gross Margin % | 16.26% | 16.46% | 14.97% | 12.17% | 8.55% | 12.39% | 16.21% | 9.2% | 11.87% | 12.4% | 14.42% | 16.15% | 17.66% | 18.88% | 18.07% | 18% | 16.16% | 15.89% | 10.5% | 16.01% | 15.8% | 20.45% | 22.43% | 24.27% | 23.05% | 21.19% | 19.82% | 25.39% | 26.6% | 25% | 24.51% |
| Gross Profit Growth % | - | 12.76% | 29.19% | 55.31% | -24.75% | -28.79% | 121.91% | -38.67% | 6.17% | -9.51% | -7.19% | -10.78% | 10.43% | 22.15% | 7.17% | 19.21% | 27.6% | 149.56% | -48.18% | -3.56% | -28.48% | -13.23% | -10.09% | 4.69% | 3.29% | 9.14% | -29.49% | 5.88% | 15.42% | 19.74% | 17.47% |
| Operating Expenses | 69.84M | 68.84M | 61.79M | 47.65M | 48.24M | 47.12M | 44.74M | 44.11M | 47.19M | 41.17M | 46.46M | 43.92M | 41.53M | 39.27M | 34.93M | 33.92M | 33.44M | 29.52M | 25.98M | 23.96M | 20.19M | 23.69M | 20.69M | 20.62M | 19.61M | 19.64M | 19.68M | 27.83M | 27.3M | 25.7M | 23.3M |
| OpEx % of Revenue | - | 11.88% | 10.94% | 8.86% | 9.79% | 10.42% | 9.22% | 11.45% | 9.69% | 9.37% | 11.13% | 10.94% | 10.09% | 11.27% | 11.72% | 12.15% | 12.82% | 14.19% | 20.6% | 15.01% | 12.04% | 13.07% | 10.87% | 10.54% | 9.96% | 9.48% | 9.69% | 12.38% | 13.47% | 13.76% | 14.64% |
| Selling, General & Admin | 69.84M | 68.84M | 61.79M | 47.65M | 32.34M | 34.92M | 32.97M | 34.31M | 33.39M | 41.17M | 46.46M | 43.92M | 41.53M | 39.27M | 34.93M | 33.8M | 33.44M | 29.94M | 25.48M | 23.96M | 20.19M | 23.69M | 20.69M | 20.62M | 19.61M | 19.64M | 19.68M | 20.25M | 20.2M | 18.9M | 17.7M |
| SG&A % of Revenue | - | 11.88% | 10.94% | 8.86% | 6.56% | 7.72% | 6.79% | 8.9% | 6.86% | 9.37% | 11.13% | 10.94% | 10.09% | 11.27% | 11.72% | 12.11% | 12.82% | 14.4% | 20.21% | 15.01% | 12.04% | 13.07% | 10.87% | 10.54% | 9.96% | 9.48% | 9.69% | 9.01% | 9.97% | 10.12% | 11.13% |
| Research & Development | 0 | 0 | 21.7M | 14.8M | 15.9M | 12.2M | 10.8M | 9.8M | 13.8M | 4.8M | 4.6M | 430K | 280K | 700K | 1.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | 3.84% | 2.75% | 3.23% | 2.7% | 2.23% | 2.54% | 2.83% | 1.09% | 1.1% | 0.11% | 0.07% | 0.2% | 0.44% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | -21.7M | -14.8M | 0 | 0 | 973K | 0 | 0 | 5.55M | 2.97M | 0 | 0 | 1.23M | 104K | 116K | 0 | -421K | 500K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.58M | 7.1M | 6.8M | 5.6M |
| Operating Income | 23.51M | 26.52M | 22.78M | 17.81M | -6.09M | 8.9M | 33.91M | -8.66M | 10.61M | 13.28M | 13.7M | 20.91M | 31.13M | 26.52M | 16.79M | 16.34M | 8.72M | 4.43M | -12.74M | 1.59M | 6.3M | 13.36M | 22.01M | 26.86M | 25.75M | 24.27M | 20.56M | 29.24M | 26.6M | 21M | 15.7M |
| Operating Margin % | 4.09% | 4.58% | 4.03% | 3.31% | -1.24% | 1.97% | 6.99% | -2.25% | 2.18% | 3.02% | 3.28% | 5.21% | 7.56% | 7.61% | 5.63% | 5.85% | 3.34% | 2.13% | -10.1% | 1% | 3.76% | 7.37% | 11.56% | 13.73% | 13.08% | 11.71% | 10.13% | 13.01% | 13.13% | 11.24% | 9.87% |
| Operating Income Growth % | - | 16.41% | 27.9% | 392.56% | -168.44% | -73.77% | 491.54% | -181.61% | -20.05% | -3.12% | -34.47% | -32.83% | 17.35% | 57.99% | 2.72% | 87.42% | 97.02% | 134.74% | -901.76% | -74.8% | -52.8% | -39.31% | -18.07% | 4.34% | 6.07% | 18.04% | -29.68% | 9.93% | 26.67% | 33.76% | 24.6% |
| EBITDA | 38.3M | 41.61M | 37.55M | 34.36M | 11.4M | 28.28M | 53.7M | 10.67M | 27.77M | 27.86M | 25.12M | 31.03M | 39.94M | 34.79M | 24.28M | 23.15M | 15.34M | 11.57M | -6.48M | 8.42M | 13.29M | 20.51M | 29.23M | 34.57M | 33.6M | 32.54M | 28.5M | 36.82M | 33.7M | 27.8M | 21.3M |
| EBITDA Margin % | 6.67% | 7.18% | 6.64% | 6.39% | 2.31% | 6.25% | 11.07% | 2.77% | 5.7% | 6.34% | 6.02% | 7.73% | 9.71% | 9.99% | 8.14% | 8.29% | 5.88% | 5.56% | -5.14% | 5.27% | 7.93% | 11.32% | 15.36% | 17.67% | 17.07% | 15.7% | 14.04% | 16.38% | 16.63% | 14.88% | 13.39% |
| EBITDA Growth % | -8.92% | 10.81% | 9.28% | 201.52% | -59.7% | -47.35% | 403.43% | -61.59% | -0.31% | 10.91% | -19.04% | -22.31% | 14.8% | 43.3% | 4.86% | 50.94% | 32.59% | 278.64% | -176.92% | -36.67% | -35.19% | -29.83% | -15.43% | 2.88% | 3.25% | 14.18% | -22.59% | 9.25% | 21.22% | 30.52% | 28.31% |
| D&A (Non-Cash Add-back) | 14.79M | 15.09M | 14.76M | 16.55M | 17.48M | 19.38M | 19.79M | 19.33M | 17.16M | 14.59M | 11.42M | 10.12M | 8.81M | 8.27M | 7.49M | 6.81M | 6.62M | 7.14M | 6.26M | 6.83M | 6.99M | 7.16M | 7.22M | 7.7M | 7.85M | 8.27M | 7.94M | 7.58M | 7.1M | 6.8M | 5.6M |
| EBIT | 21.9M | 26.52M | 25.64M | 21.1M | -6.71M | 9.48M | 35.31M | -7.2M | -18.82M | 18.84M | 16.81M | 19.37M | 34M | 27.86M | 16.91M | 15.92M | 10.3M | 5.83M | -10.96M | 1.59M | 6.3M | 13.36M | 22.01M | 26.86M | 25.75M | 24.27M | 20.56M | 29.24M | 26.6M | 21M | 15.7M |
| Net Interest Income | 3.37M | 3.14M | 1.03M | -328K | -960K | -221K | -302K | -920K | -1.61M | -1.13M | -281K | -151K | 114K | 61K | -13K | -12K | -56K | -139K | 567K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 3.61M | 3.5M | 2.04M | 572K | 0 | 0 | 0 | 0 | 0 | 8K | 136K | 25K | 185K | 106K | 21K | 69K | 119K | 86K | 731K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 240K | 359K | 1.01M | 900K | 960K | 221K | 302K | 920K | 1.61M | 1.14M | 417K | 176K | 71K | 45K | 34K | 81K | 175K | 225K | 731K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 5.75M | 6.44M | 1.85M | 2.39M | -1.58M | 362K | 1.09M | 539K | -31.05M | 4.42M | 1.55M | -1.72M | 2.81M | 1.29M | 91K | -501K | 1.41M | 1.18M | 1.62M | 2.98M | 4.33M | 3.52M | 1.49M | 788K | 213K | 496K | 114K | 1.11M | 900K | 400K | -200K |
| Pretax Income | 29.26M | 32.96M | 24.64M | 20.2M | -7.67M | 9.26M | 35.01M | -8.12M | -20.43M | 17.7M | 16.39M | 19.19M | 33.93M | 27.81M | 16.88M | 15.84M | 10.13M | 5.61M | -10.32M | 4.49M | 10.71M | 16.88M | 23.5M | 27.65M | 25.96M | 24.77M | 20.68M | 30.35M | 27.5M | 21.4M | 15.5M |
| Pretax Margin % | 5.1% | 5.69% | 4.36% | 3.76% | -1.56% | 2.05% | 7.21% | -2.11% | -4.2% | 4.03% | 3.93% | 4.78% | 8.25% | 7.98% | 5.66% | 5.67% | 3.88% | 2.7% | -8.19% | 2.81% | 6.38% | 9.32% | 12.35% | 14.13% | 13.19% | 11.95% | 10.19% | 13.5% | 13.57% | 11.46% | 9.74% |
| Income Tax | 10.86M | 11.34M | 5.72M | 3.77M | 1.28M | 415K | 5.11M | -2.27M | -7.74M | 2.07M | 4.28M | 5.07M | 9.38M | 8.67M | 5.37M | 3.59M | 2.54M | 1.67M | -4.2M | 1.23M | 2.52M | 4.4M | 8.46M | 10.37M | 9.61M | 9.16M | 7.65M | 11.84M | 10.5M | 7.9M | 5.7M |
| Effective Tax Rate % | 37.13% | 34.4% | 23.21% | 18.69% | -16.71% | 4.48% | 14.6% | 27.9% | 37.88% | 11.7% | 26.13% | 26.41% | 27.65% | 31.19% | 31.79% | 22.65% | 25.07% | 29.71% | 40.7% | 27.27% | 23.57% | 26.08% | 36% | 37.5% | 37% | 37% | 37% | 39% | 38.18% | 36.92% | 36.77% |
| Net Income | 16.9M | 20.6M | 18.68M | 16.31M | -6.67M | 7.02M | 22.53M | -7.61M | -12.69M | 12.28M | 7.2M | 9.15M | 20.65M | 16.42M | 9.38M | 8.79M | 5.42M | 3.42M | -6.12M | 3.27M | 8.18M | 12.48M | 15.04M | 17.28M | 16.35M | 15.6M | 13.03M | 18.51M | 17M | 13.5M | 9.8M |
| Net Margin % | 2.94% | 3.56% | 3.31% | 3.03% | -1.35% | 1.55% | 4.64% | -1.97% | -2.61% | 2.8% | 1.72% | 2.28% | 5.02% | 4.71% | 3.14% | 3.15% | 2.08% | 1.65% | -4.86% | 2.05% | 4.88% | 6.89% | 7.9% | 8.83% | 8.31% | 7.53% | 6.42% | 8.23% | 8.39% | 7.23% | 6.16% |
| Net Income Growth % | -28.11% | 10.24% | 14.54% | 344.57% | -195.07% | -68.86% | 396.28% | 40.09% | -203.34% | 70.67% | -21.34% | -55.7% | 25.75% | 75.19% | 6.62% | 62.29% | 58.37% | 155.88% | -287.39% | -60.08% | -34.42% | -17.03% | -12.98% | 5.67% | 4.81% | 19.79% | -29.64% | 8.9% | 25.93% | 37.76% | 27.27% |
| Net Income (Continuing) | 18.4M | 21.62M | 18.92M | 16.43M | -8.95M | 8.84M | 29.9M | -5.86M | -12.69M | 15.63M | 12.11M | 14.12M | 24.55M | 19.14M | 11.51M | 12.25M | 7.59M | 3.94M | -6.92M | 3.27M | 8.18M | 12.48M | 15.04M | 17.28M | 16.35M | 15.6M | 13.03M | 18.51M | 17M | 13.5M | 9.8M |
| Discontinued Operations | 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 |
| Minority Interest | 27.2M | 26.85M | 24.84M | 25.07M | 26.06M | 31.55M | 31.79M | 23.22M | 24.43M | 21.09M | 21.63M | 15.18M | 12.09M | 9.4M | 7.66M | 6.85M | 3.85M | 1.66M | 1.14M | 953K | 574K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 4.17 | 5.00 | 4.58 | 4.07 | -1.70 | 1.80 | 5.85 | -1.57 | -3.45 | 3.32 | 1.96 | 2.53 | 5.73 | 4.68 | 2.77 | 2.64 | 1.63 | 1.04 | -1.86 | 0.94 | 2.30 | 3.35 | 3.94 | 4.49 | 4.24 | 3.73 | 2.96 | 3.65 | 2.94 | 2.30 | 1.70 |
| EPS Growth % | -27.97% | 9.17% | 12.53% | 339.41% | -194.44% | -69.23% | 472.61% | 54.49% | -203.92% | 69.39% | -22.53% | -55.85% | 22.44% | 68.95% | 4.92% | 61.96% | 56.73% | 155.91% | -297.87% | -59.13% | -31.34% | -14.97% | -12.25% | 5.9% | 13.67% | 26.01% | -18.9% | 24.15% | 27.83% | 35.29% | 27.82% |
| EPS (Basic) | - | 5.07 | 4.64 | 4.10 | -1.70 | 1.82 | 5.95 | -1.57 | -3.45 | 3.39 | 2.01 | 2.57 | 5.88 | 4.79 | 2.82 | 2.66 | 1.65 | 1.05 | -1.87 | 0.94 | 2.30 | 3.36 | 3.97 | 4.56 | 4.32 | 3.80 | 3.02 | 3.75 | 3.02 | 2.36 | 1.72 |
| Diluted Shares Outstanding | 4.05M | 4.12M | 4.08M | 4M | 3.92M | 3.91M | 3.85M | 3.74M | 3.68M | 3.7M | 3.67M | 3.62M | 3.6M | 3.51M | 3.38M | 3.33M | 3.32M | 3.28M | 3.28M | 3.49M | 3.56M | 3.72M | 3.82M | 3.85M | 3.85M | 4.18M | 4.4M | 5.07M | 5.78M | 5.87M | 5.76M |
| Basic Shares Outstanding | 3.97M | 4.06M | 4.03M | 3.98M | 3.92M | 3.86M | 3.79M | 3.74M | 3.68M | 3.63M | 3.59M | 3.56M | 3.52M | 3.43M | 3.33M | 3.3M | 3.29M | 3.27M | 3.28M | 3.49M | 3.55M | 3.72M | 3.79M | 3.79M | 3.79M | 4.11M | 4.31M | 4.94M | 5.63M | 5.72M | 5.7M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | 16.56% | 27.96% | 20.38% | 8.28% | 9.39% | 14.42% | 15.25% | 73.63% | - | - | 157.12% | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying STRT stock.
For fiscal year 2026, Strattec Security Corporation (STRT) reported total revenue of $579.4M. This represents a 264.2% increase compared to $159.1M in 1997.
Strattec Security Corporation (STRT) is profitable, generating $20.6M in net income for the fiscal year ending 2026 with a net profit margin of 3.6%.
Strattec Security Corporation (STRT) reported an operating income of $26.5M, resulting in an operating profit margin of 4.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Strattec Security Corporation (STRT) generated $95.4M in gross profit for the year, representing a gross profit margin of 16.5%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Thin Operating Margin Sensitivity
Metrics are mathematically derived from official filings.
Revenue Growth Oscillating Around Flat Trend
As reported in recent filings, STRT's revenue moved from $139.1M in 2025Q1 to $147.2M in 2027Q1, with year-over-year growth swinging between roughly -4.5% and +9.6% across the period.
The quarterly growth profile shows no sustained acceleration, with the strongest prints clustered around one or two quarters before reverting toward flat. This pattern suggests revenue is tied to cyclical auto-production volumes rather than a durable share-gain story, and investors should monitor whether volume recovery persists. Drivers such as pricing versus volume cannot be separated from the supplied data, so the durability of the top-line trend remains unverified.
Gross Margin Recovery Stalls Near Mid-Teens
Based on reported figures, STRT's gross margin expanded from 13.0% in 2024Q4 to a peak of 17.3% in 2026Q1 before settling near 16.5% in 2027Q1, indicating partial structural improvement.
The roughly 400 basis point improvement over six quarters is meaningful for a low-margin component supplier, but the margin has not held at its peak. Compared with peer MPAA's 20.2% gross margin, STRT remains structurally lower, which may reflect limited pricing power with OEM customers. The margin profile appears cyclical and warrants further investigation into customer concentration and input cost pass-through.
Operating Leverage Limited by Overhead Growth
According to reported financials, STRT's SG&A rose from $8.6M in 2024Q4 to $17.9M in 2027Q1, roughly doubling while revenue grew only about 3%, which compresses operating margin.
The near-doubling of SG&A against modest revenue growth suggests operating leverage has run in reverse over the period, even as gross profit improved. Operating margin of 4.4% in the latest quarter sits well below the 6.8% recorded in 2024Q4, indicating overhead absorption has weakened. The data does not explain the SG&A step-up, so its permanence cannot be assessed from these figures alone.
EPS Volatility Driven by Discrete Items
Based on EPS figures, STRT's diluted EPS swung from $0.32 in 2025Q2 to $2.07 in 2026Q1, a range far wider than the modest movements in operating income would imply.
The gap between operating income and net income in several quarters, such as 2026Q1 where net income of $8.5M fell well short of the implied pre-tax path, suggests non-operating or tax-related items are influencing reported earnings. Stock-based compensation is small relative to revenue, so it does not appear to be a primary distortion. Investors should treat single-quarter EPS swings with caution until the source of these items is clarified in filings.
Margin Compression Could Reverse Recent Gains
Based on the supplied data, STRT's operating margin fell from 6.9% in 2026Q1 to 4.4% in 2027Q1, and a continuation of this trend would erase much of the recent profitability improvement.
The bear case centers on the observation that rising SG&A and softening gross profit in the most recent quarter could signal the earlier margin recovery was cyclical rather than structural. With peer ALSN posting a 32.3% operating margin on a very different business model, STRT's thin cushion leaves little room for input cost or volume shocks. This analysis is inferential and depends on whether the latest quarter represents a trend or a one-time shift.