Revenue growth remains stagnant with gross margins oscillating between 11.8% and 14.8% over the last ten quarters, reflecting significant exposure to inflationary pressures and cyclical automotive production.
| 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 |
|---|
| Sales/Revenue | 3.79B | 3.77B | 3.87B | 3.95B | 3.76B | 2.77B | 2.55B | 2.94B | 2.98B | 3.15B | 3.16B | 3.25B | 7.51B | 7.44B | 6.86B | 8.05B | 7.47B | 6.68B | 9.54B | 11.27B | 11.42B | 16.98B | 18.66B | 17.66B | 18.39B | 17.84B | 19.47B | 19.37B | 17.76B |
| Revenue Growth % | -2.04% | -2.53% | -2.23% | 5.27% | 35.45% | 8.83% | -13.45% | -1.34% | -5.15% | -0.47% | -2.59% | -56.79% | 0.94% | 8.49% | -14.79% | 7.78% | 11.68% | -29.96% | -15.28% | -1.33% | -32.74% | -9.01% | 5.65% | -4% | 3.09% | -8.34% | 0.52% | 9.03% | - |
| Cost of Goods Sold | 3.28B | 3.24B | 3.33B | 3.26B | 3.18B | 2.32B | 2.1B | 2.32B | 2.57B | 2.65B | 2.7B | 2.81B | 6.71B | 6.75B | 6.27B | 7.4B | 6.66B | 6.09B | 9.09B | 10.69B | 10.68B | 16.42B | 18.11B | 17.79B | 17.59B | 17.15B | 17.35B | 16.85B | 15.97B |
| COGS % of Revenue | - | 85.88% | 86.26% | 82.37% | 84.77% | 83.66% | 82.5% | 78.74% | 86.23% | 84.14% | 85.32% | 86.75% | 89.37% | 90.81% | 91.41% | 92.01% | 89.16% | 91.07% | 95.19% | 94.91% | 93.57% | 96.74% | 97.07% | 100.71% | 95.61% | 96.1% | 89.12% | 87.02% | 89.91% |
| Gross Profit | 507M | 532M | 531M | 697M | 572M | 453M | 446M | 626M | 411M | 491M | 456M | 430M | 798M | 684M | 589M | 643M | 809M | 597M | 459M | 573M | 734M | 554M | 546M | -126M | 807M | 695M | 2.12B | 2.51B | 1.79B |
| Gross Margin % | 13.38% | 14.12% | 13.74% | 17.63% | 15.23% | 16.34% | 17.5% | 21.26% | 13.77% | 15.61% | 14.43% | 13.25% | 10.63% | 9.19% | 8.59% | 7.99% | 10.84% | 8.93% | 4.81% | 5.09% | 6.43% | 3.26% | 2.93% | -0.71% | 4.39% | 3.9% | 10.88% | 12.98% | 10.09% |
| Gross Profit Growth % | - | 0.19% | -23.82% | 21.85% | 26.27% | 1.57% | -28.75% | 52.31% | -16.29% | 7.68% | 6.05% | -46.12% | 16.67% | 16.13% | -8.4% | -20.52% | 35.51% | 30.07% | -19.9% | -21.93% | 32.49% | 1.47% | 533.33% | -115.61% | 16.12% | -67.19% | -15.75% | 40.21% | - |
| Operating Expenses | 209M | 202M | 398M | 417M | 384M | 366M | 394M | 521M | 193M | 222M | 515M | 245M | 377M | 367M | 369M | 398M | 395M | 342M | 410M | 589M | 632M | 574M | 994M | 1B | 888M | 812M | 1.46B | 1.32B | 659M |
| OpEx % of Revenue | - | 5.36% | 10.29% | 10.55% | 10.22% | 13.2% | 15.46% | 17.7% | 6.47% | 7.06% | 16.29% | 7.55% | 5.02% | 4.93% | 5.38% | 4.95% | 5.29% | 5.12% | 4.3% | 5.23% | 5.54% | 3.38% | 5.33% | 5.67% | 4.83% | 4.55% | 7.48% | 6.84% | 3.71% |
| Selling, General & Admin | 209M | 202M | 207M | 207M | 188M | 175M | 193M | 221M | 193M | 226M | 220M | 245M | 377M | 367M | 369M | 398M | 395M | 331M | 553M | 636M | 716M | 946M | 994M | 1B | 888M | 813M | 781M | 674M | 659M |
| SG&A % of Revenue | - | 5.36% | 5.35% | 5.24% | 5.01% | 6.31% | 7.57% | 7.51% | 6.47% | 7.18% | 6.96% | 7.55% | 5.02% | 4.93% | 5.38% | 4.95% | 5.29% | 4.95% | 5.79% | 5.65% | 6.27% | 5.57% | 5.33% | 5.67% | 4.83% | 4.56% | 4.01% | 3.48% | 3.71% |
| Research & Development | 88M | 220M | 191M | 210M | 196M | 191M | 201M | 300M | 286M | 253M | 295M | 294M | 257M | 148M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 5.84% | 4.94% | 5.31% | 5.22% | 6.89% | 7.89% | 10.19% | 9.58% | 8.04% | 9.33% | 9.06% | 3.42% | 1.99% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -1000K | -220M | 0 | 0 | 0 | 0 | 0 | 0 | 133M | -257M | 0 | 0 | -108M | 44M | -299M | -326M | -353M | 0 | 0 | -63M | 0 | 0 | -910M | 0 | 0 | -1M | 676M | 651M | 0 |
| Operating Income | 298M | 330M | 133M | 280M | 188M | 87M | 52M | 105M | 173M | 175M | 131M | 185M | 137M | -128M | 226M | 166M | 414M | 266M | -94M | -76M | 7M | -392M | -52M | -1.17B | -81M | -117M | 661M | 1.19B | 1.13B |
| Operating Margin % | 7.87% | 8.76% | 3.44% | 7.08% | 5.01% | 3.14% | 2.04% | 3.57% | 5.8% | 5.56% | 4.14% | 5.7% | 1.82% | -1.72% | 3.3% | 2.06% | 5.55% | 3.98% | -0.98% | -0.67% | 0.06% | -2.31% | -0.28% | -6.6% | -0.44% | -0.66% | 3.4% | 6.14% | 6.38% |
| Operating Income Growth % | - | 148.12% | -52.5% | 48.94% | 116.09% | 67.31% | -50.48% | -39.31% | -1.14% | 33.59% | -29.19% | 35.04% | 207.03% | -156.64% | 36.14% | -59.9% | 55.64% | 382.98% | -23.68% | -1185.71% | 101.79% | -653.85% | 95.54% | -1339.51% | 30.77% | -117.7% | -44.41% | 4.85% | - |
| EBITDA | 382M | 439M | 228M | 383M | 296M | 195M | 156M | 205M | 264M | 262M | 215M | 354M | 407M | 134M | 485M | 482M | 694M | 618M | 322M | 396M | 437M | 203M | 633M | -492M | 550M | 549M | 1.34B | 1.84B | 1.7B |
| EBITDA Margin % | 10.08% | 11.65% | 5.9% | 9.69% | 7.88% | 7.03% | 6.12% | 6.96% | 8.85% | 8.33% | 6.8% | 10.91% | 5.42% | 1.8% | 7.07% | 5.99% | 9.3% | 9.24% | 3.37% | 3.52% | 3.83% | 1.2% | 3.39% | -2.79% | 2.99% | 3.08% | 6.87% | 9.5% | 9.57% |
| EBITDA Growth % | -3.05% | 92.54% | -40.47% | 29.39% | 51.79% | 25% | -23.9% | -22.35% | 0.76% | 21.86% | -39.27% | -13.02% | 203.73% | -72.37% | 0.62% | -30.55% | 12.3% | 91.93% | -18.69% | -9.38% | 115.27% | -67.93% | 228.66% | -189.45% | 0.18% | -58.94% | -27.34% | 8.3% | - |
| D&A (Non-Cash Add-back) | 84M | 109M | 95M | 103M | 108M | 108M | 104M | 100M | 91M | 87M | 84M | 169M | 270M | 262M | 259M | 316M | 280M | 352M | 416M | 472M | 430M | 595M | 685M | 674M | 631M | 666M | 676M | 651M | 565M |
| EBIT | 248M | 342M | 313M | 262M | 187M | 91M | -3M | 125M | 230M | 244M | 181M | 88M | 298M | 930M | 340M | 331M | 1.44B | 381M | -316M | -16M | 122M | -60M | -406M | -1.17B | -106M | -117M | 661M | 1.19B | 1.1B |
| Net Interest Income | 13M | 18M | 2M | -7M | -10M | -8M | -11M | -9M | -7M | -16M | -12M | -14M | -21M | -35M | -34M | -27M | -170M | -106M | -169M | -164M | -159M | -132M | -80M | 0 | -80M | -76M | 0 | 0 | 0 |
| Interest Income | 23M | 22M | 17M | 10M | 4M | 2M | 5M | 4M | 7M | 5M | 6M | 5M | 4M | 1M | 14M | 21M | 16M | 11M | 46M | 61M | 31M | 24M | 23M | 0 | 23M | 55M | 0 | 0 | 0 |
| Interest Expense | 2M | 4M | 15M | 17M | 14M | 10M | 16M | 13M | 14M | 21M | 18M | 19M | 25M | 36M | 48M | 50M | 186M | 117M | 215M | 225M | 190M | 156M | 103M | 0 | 103M | 131M | 0 | 0 | -18M |
| Other Income/Expense | -6M | 8M | 165M | -23M | -13M | -6M | -72M | 1M | 43M | 48M | 30M | -116M | 124M | 739M | 110M | 115M | 837M | -2M | -437M | -209M | -145M | 219M | -447M | -51M | -329M | -52M | -248M | -32M | -18M |
| Pretax Income | 292M | 338M | 298M | 257M | 175M | 81M | -20M | 106M | 216M | 223M | 161M | 69M | 261M | 882M | 291M | 281M | 1.25B | 264M | -535M | -285M | -111M | -173M | -534M | -1.18B | -117M | -169M | 413M | 1.16B | 1.12B |
| Pretax Margin % | 7.71% | 8.97% | 7.71% | 6.5% | 4.66% | 2.92% | -0.78% | 3.6% | 7.24% | 7.09% | 5.09% | 2.13% | 3.48% | 11.86% | 4.24% | 3.49% | 16.76% | 3.95% | -5.61% | -2.53% | -0.97% | -1.02% | -2.86% | -6.68% | -0.64% | -0.95% | 2.12% | 5.97% | 6.28% |
| Income Tax | 81M | 125M | 14M | -248M | 45M | 31M | 28M | 24M | 43M | 48M | 30M | 27M | 124M | 107M | 121M | 127M | 150M | 80M | 94M | 20M | 25M | 64M | 965M | 34M | -58M | -72M | 143M | 422M | 416M |
| Effective Tax Rate % | 27.74% | 36.98% | 4.7% | -96.5% | 25.71% | 38.27% | -140% | 22.64% | 19.91% | 21.52% | 18.63% | 39.13% | 47.51% | 12.13% | 41.58% | 45.2% | 11.99% | 30.3% | -17.57% | -7.02% | -22.52% | -36.99% | -180.71% | -2.88% | 49.57% | 42.6% | 34.62% | 36.47% | 37.28% |
| Net Income | 201M | 201M | 274M | 486M | 124M | 41M | -56M | 70M | 164M | 176M | 75M | 2.28B | -295M | 690M | 100M | 80M | 1.03B | 128M | -663M | -372M | -163M | -270M | -1.5B | -1.21B | -352M | -118M | 270M | 735M | 703M |
| Net Margin % | 5.31% | 5.33% | 7.09% | 12.29% | 3.3% | 1.48% | -2.2% | 2.38% | 5.5% | 5.59% | 2.37% | 70.39% | -3.93% | 9.28% | 1.46% | 0.99% | 13.74% | 1.91% | -6.95% | -3.3% | -1.43% | -1.59% | -8.03% | -6.87% | -1.91% | -0.66% | 1.39% | 3.8% | 3.96% |
| Net Income Growth % | -32.32% | -26.64% | -43.62% | 291.94% | 202.44% | 173.21% | -180% | -57.32% | -6.82% | 134.67% | -96.72% | 874.24% | -142.75% | 590% | 25% | -92.2% | 701.56% | 119.31% | -78.23% | -128.22% | 39.63% | 81.99% | -23.58% | -244.6% | -198.31% | -143.7% | -63.27% | 4.55% | - |
| Net Income (Continuing) | 211M | 213M | 284M | 505M | 130M | 50M | -48M | 82M | 173M | 175M | 131M | 42M | -75M | 555M | 170M | 210M | 1.1B | 184M | -647M | -305M | -136M | -237M | -1.54B | -1.21B | -103M | -118M | 270M | 735M | 703M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1M | 1M | 17M | 0 | 2.29B | -131M | 220M | 0 | 0 | 0 | 0 | 0 | 0 | -9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 86M | 83M | 81M | 85M | 99M | 100M | 123M | 115M | 117M | 124M | 138M | 142M | 956M | 953M | 756M | 690M | 690M | 317M | 264M | 293M | 271M | 234M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 7.26 | 7.28 | 9.82 | 17.05 | 4.35 | 1.44 | -2.01 | 2.48 | 5.52 | 5.47 | 2.12 | 52.63 | -6.25 | 13.50 | 1.88 | 1.54 | -0.20 | 0.98 | -5.12 | -2.87 | -1.27 | -2.14 | -11.80 | -9.82 | -2.84 | -0.89 | 2.08 | 5.65 | 5.41 |
| EPS Growth % | -31.96% | -25.87% | -42.4% | 291.95% | 202.08% | 171.64% | -181.05% | -55.07% | 0.91% | 158.02% | -95.97% | 942.08% | -146.3% | 618.09% | 22.08% | 870% | -120.41% | 119.14% | -78.4% | -125.98% | 40.65% | 81.86% | -20.16% | -245.77% | -219.1% | -142.79% | -63.19% | 4.44% | - |
| EPS (Basic) | - | 7.39 | 9.95 | 17.30 | 4.41 | 1.46 | -2.01 | 2.49 | 5.56 | 5.57 | 2.14 | 54.00 | -6.44 | 13.80 | 1.89 | 1.56 | -0.20 | 0.98 | -5.12 | -2.87 | -1.27 | -2.14 | -11.96 | -9.82 | -2.84 | -0.89 | 2.08 | 5.65 | 5.41 |
| Diluted Shares Outstanding | 27.7M | 27.6M | 27.9M | 28.5M | 28.5M | 28.4M | 27.9M | 28.2M | 29.7M | 32.2M | 35.4M | 43.4M | 47.2M | 51.1M | 53.3M | 52M | 109.97M | 130.4M | 129.4M | 129.62M | 128.35M | 126.17M | 127.08M | 123.54M | 123.91M | 132.58M | 130M | 130M | 130M |
| Basic Shares Outstanding | 27.1M | 27.2M | 27.55M | 28.1M | 28.1M | 28M | 27.9M | 28.1M | 29.5M | 31.6M | 35M | 42.3M | 45.8M | 50M | 52.9M | 51.2M | 109.6M | 130.4M | 129.4M | 129.62M | 128.35M | 126.17M | 125.29M | 123.54M | 123.91M | 132.58M | 130M | 130M | 130M |
| Dividend Payout Ratio | - | 7.46% | - | - | - | - | - | - | 8.54% | 0.57% | 2314.67% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 5.93% | - | - |
OEM Vertical Integration Risk
According to the provided financial data, Visteon's revenue growth has remained largely stagnant, fluctuating between a 6.4% decline and a 3.2% increase over the last ten quarters, reflecting the company's high sensitivity to global light vehicle production cycles and the inherent lumpiness of project-based automotive contracts.
The lack of consistent top-line expansion suggests that Visteon is currently struggling to outpace the broader automotive production environment despite its focus on digital cockpit technology. Investors should monitor whether the company can achieve meaningful content-per-vehicle growth to offset the cyclical volatility of its primary OEM customers.
As reported in recent income statements, Visteon's gross margins have oscillated between 11.8% and 14.8%, indicating that the company's role as a high-value integrator leaves it exposed to semiconductor price volatility and the inflationary pressures associated with launching complex new EV-related cockpit programs.
The inability to consistently maintain gross margins above the 15% threshold suggests limited pricing power in a competitive Tier 1 landscape. This margin profile warrants further investigation into whether the company can successfully transition toward higher-margin software-licensing models to decouple profitability from raw component cost fluctuations.
Based on the reported figures, Visteon's operating margins have shown sensitivity to R&D spending, with operating income scaling inconsistently as the company balances the necessity of continuous innovation against the need to maintain profitability during periods of revenue contraction or stagnation in the automotive sector.
The inconsistent operating margin performance suggests that Visteon has yet to achieve the necessary scale to fully leverage its fixed R&D investments. Analysts should scrutinize the efficiency of these expenditures, as the current data indicates that operating income does not always move in lockstep with gross profit improvements.
As evidenced by the significant quarterly swings in net income, such as the $366 million reported in 2023Q4 compared to $14 million in 2025Q4, Visteon's bottom line appears heavily influenced by non-operating items and potential accounting adjustments that obscure the underlying operational performance of the business.
The extreme variance in net income suggests that investors should prioritize operating income and cash flow metrics over reported EPS to gauge true performance. The presence of stock-based compensation and potential milestone-based reimbursements further complicates the assessment of sustainable earnings quality for the firm.
While Visteon maintains a strong balance sheet, the most significant analytical challenge is the risk that major OEMs will increasingly insource software integration, effectively demoting Visteon to a low-margin hardware provider and undermining the premium valuation typically afforded to technology-forward automotive electronics suppliers.
Short-term performance may mask the long-term threat posed by vertical integration, where OEMs develop their own cockpit software stacks. If Visteon fails to secure its position as an indispensable software partner, the current market premium may prove unsustainable, leading to a potential compression in valuation multiples.
Quick answers to the most common questions about buying VC stock.
For fiscal year 2025, Visteon Corporation (VC) reported total revenue of $3.77B. This represents a 78.8% decline compared to $17.76B in 1998.
Visteon Corporation (VC) is profitable, generating $201.0M in net income for the fiscal year ending 2025 with a net profit margin of 5.3%.
Visteon Corporation (VC) reported an operating income of $330.0M, resulting in an operating profit margin of 8.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Visteon Corporation (VC) generated $532.0M in gross profit for the year, representing a gross profit margin of 14.1%. This demonstrates the company's core pricing power and production efficiency.