Cooper-Standard

CPS · NYSE · Consumer Discretionary · Financials, fiscal 2016 to 2025

CPS · Last close · November 6, 2026

$17.93

Cooper-Standard's revenue rose 0.4% to $2.7 billion in fiscal 2025. Its operating margin was 3.2%, up from 2.6% a year earlier. Free cash flow was $16 million, down 37.2%. The diluted share count rose 1.7%.

COOPER-STANDARD HOLDINGS INC. Latest fiscal year ended December 31, 2025 10-K filed February 13, 2026 · 0001320461-26-000012 Updated November 9, 2026

Revenue

$2.7B

0.4%

Operating margin

3.2%

0.6 pts

Net income

−$4M

Free cash flow

$16M

37.2%

Return on capital

9.2%

2.1 pts

Market cap

$321M

Nov 6 close

P/E

—

Loss: no P/E

Operating margin is operating income as a share of revenue. Free cash flow is cash from operations minus capital spending. Return on capital is after-tax operating income as a share of the money invested in the business: debt plus equity, minus cash. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

About these figures. Cooper-Standard's filings from 2018 to 2023 tag its revenue as zero under the usual revenue line and give its sales on another line, so that line is used.

Charts show fiscal years, from the 10-K filings.

What Cooper-Standard does

Cooper Standard makes sealing systems and fluid handling systems (fuel and brake delivery systems and fluid transfer systems), mainly for passenger vehicles and light trucks built by global automakers, and for replacement markets. It has about 22,000 employees, including 4,000 contingent workers, across 108 facilities in 20 countries. Its products appear on more than 430 vehicle nameplates.

It reports two segments, Sealing Systems and Fluid Handling Systems. About 86% of 2025 sales went to automakers. Its largest customers are Ford, General Motors, Stellantis, Volkswagen Group, Mercedes-Benz and Renault-Nissan. Chinese customers include BYD, Geely and Chery. The rest of its sales went mostly to other automotive suppliers, non-automotive customers and replacement market distributors.

It says it is the largest global producer of sealing systems and the second and third largest in the fuel and brake delivery and fluid transfer products it makes. The company was set up in 2004 when it bought the automotive business of Cooper Tire & Rubber. It also runs an Industrial and Specialty Group serving transportation and industrial markets.

Its biggest risks, as it describes them

Changes in U.S. or foreign trade policy, including tariffs and other trade restrictions.
Inflation, higher raw material and component costs, and supply chain disruptions.
Work stoppages or other disruptions to its operations.
Problems with the timing, quality and cost of new vehicle program launches.
Product liability, warranty and recall claims, and failing to develop products customers need.

From Cooper-Standard's annual report on Form 10-K, filed February 13, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new annual report.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both.

Revenue (left axis)Net income (right axis)

Gross profit, R&D and operating income

US$ billions, fiscal years. Gross profit is revenue minus the cost of what was sold; research and development is one of the costs paid from it; what remains after all operating costs is operating income. Losses in red.

Gross profitResearch and developmentOperating income

Margins

Percent of revenue

GrossOperatingNetFree cash flow

From fiscal 2016 to 2019, earnings per share fell 19.2% a year and net income 21.4% a year, while buybacks cut the share count by 8%. Cooper-Standard then lost money in fiscal 2020, 2021, 2022, 2023, 2024 and 2025.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Returns on capital

Return on capital and on equity

Percent. Return on capital is after-tax operating income over the money invested in the business (debt plus equity, minus cash); return on equity is net income over shareholders' equity. Both use the average of opening and closing balances.

Return on capitalReturn on equity

Balance sheet

Cash and debt

US$ billions, at each fiscal year end. Debt includes finance leases.

Cash and short-term investmentsDebt

Assets, liabilities and equity

US$ billions, at each fiscal year end. Assets equal liabilities plus equity; negative equity in red.

Total assetsTotal liabilitiesShareholders' equity

Debt and liquidity ratios

Times. Debt to equity, current assets over current liabilities, and net debt over EBITDA (a full year's).

Debt to equityCurrent ratioNet debt to EBITDA

Five years at a glance

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Cash and short-term investments	248	187	155	170	192
Debt incl. finance leases	981	982	1,045	1,058	1,018
Net debt (negative means net cash)	733	795	890	888	827
Net debt to EBITDA	—	45.5x	5.7x	5.1x	4.5x
Debt to equity	3.0x	9.1x	—	—	—
Interest coverage	−2.9x	−1.3x	0.6x	0.7x	0.8x
Current ratio	1.7x	1.5x	1.4x	1.4x	1.3x
Quick ratio	1.4x	1.2x	1.1x	1.1x	1.1x

US$ millions unless stated, at each fiscal year end. Net debt to EBITDA is debt minus cash, divided by operating income before depreciation and amortization: roughly how many years of those earnings the net debt equals. Debt to equity is debt as a multiple of shareholders' equity. Interest coverage is operating income divided by interest expense. The current ratio is current assets over current liabilities; the quick ratio leaves out inventory.

Cash flow

Cash from operations, capital spending and free cash flow

US$ billions, fiscal years. Free cash flow is cash from operations minus capital spending; negative years in red.

Cash from operationsCapital spendingFree cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project Cooper-Standard's revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them, or value it with a discounted cash flow model. Every projected figure is yours: it is not a forecast of ours.

Open Cooper-Standard's projections

Insider trades

No officer, director or 10% owner of Cooper-Standard reported buying or selling its shares on the open market between November 7, 2025 and November 6, 2026.

From Form 4 filings with the SEC. Grants, option exercises and shares withheld for tax aren't counted. Insider trades at all companies

Indicators

Four widely used measures, worked out from the company's filings. The cutoffs are the ones their authors or users go by, not a verdict of ours.

Indicator	FY23	FY24	FY25
Piotroski F-score	4 of 9	6 of 9	6 of 9
Rule of 40	12.8%	−2.1%	1.0%
Altman Z''	0.30	0.18	0.15
Accruals ratio	−16.6%	−8.6%	−3.9%

Piotroski F-score: how many of nine simple tests of profitability, funding and efficiency the company passed in the year (Piotroski, 2000); 8 or 9 is strong, 0 to 2 weak. Rule of 40: revenue growth plus free cash flow margin; software investors treat 40% or more as the bar. Altman Z'': working capital, retained earnings, operating income and equity weighed against assets and liabilities (Altman, 1995); Altman puts above 2.6 in the safe zone and below 1.1 in the distress zone. Accruals ratio: net income minus cash from operations, over average total assets; lower means profit is backed by cash.

The nine F-score tests

Test	FY23	FY24	FY25
Net income is positive	Fail	Fail	Fail
Cash from operations is positive	Pass	Pass	Pass
Return on assets rose	Fail	Pass	Pass
Cash from operations exceeds net income	Pass	Pass	Pass
Debt fell relative to assets	Fail	Fail	Pass
Current ratio rose	Fail	Pass	Fail
Share count didn't rise	Fail	Fail	Fail
Gross margin rose	Pass	Pass	Pass
Revenue rose relative to assets	Pass	Pass	Pass
F-score	4 of 9	6 of 9	6 of 9

Companies that report no gross profit are scored on the other eight.

Compare

Put Cooper-Standard side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Operating margin	Free cash flow margin	Return on capital	Net debt to EBITDA	F-score	Compare
Cooper-Standard	FY25	0.4%	3.2%	0.6%	9.2%	4.5x	6
Gentex	FY25	9.6%	18.7%	18.1%	17.4%	−0.2x	6	Compare
Dorman Products	FY25	6.0%	14.1%	3.5%	12.4%	1.2x	8	Compare
Garrett Motion	FY25	3.1%	—	9.5%	69.3%	2.1x	9	Compare
Visteon	FY25	−2.5%	—	—	19.3%	−1.0x	7	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly. Free cash flow margin is free cash flow as a share of revenue. Net debt to EBITDA is explained under the balance sheet, and the F-score under Indicators.

10 years of figures

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	3,473	3,618	3,624	3,108	2,375	2,330	2,525	2,816	2,731	2,741
Revenue growth	—	4.2%	0.2%	−14.2%	−23.6%	−1.9%	8.4%	11.5%	−3.0%	0.4%
Gross profit	665	671	548	359	148	87	130	291	303	328
Research and development	118	128	122	115	102	90	80	84	83	81
Operating income	247	266	110	156	−269	−209	−105	46	70	87
Net income	139	138	104	68	−268	−323	−215	−202	−79	−4
Diluted EPS (US$)	7.42	7.35	5.66	3.92	−15.82	−18.94	−12.53	−11.64	−4.48	−0.23
Diluted shares (millions)	19	19	18	17	17	17	17	17	18	18
Cash flow
Cash from operations	366	313	149	98	−16	−116	−36	117	76	64
Capital expenditure	164	187	218	164	92	96	71	81	50	48
Free cash flow	201	126	−69	−67	−108	−212	−107	37	26	16
Dividends paid	0	0	0	0	0	0	0	0	0	0
Share buybacks	24	55	60	36	0	0	0	0	0	0
Acquisitions	38	0	172	0	0	0	0	0	0	0
Stock-based compensation	24	25	8	12	10	6	3	8	9	15
Balance sheet at fiscal year end
Cash and short-term investments	480	516	265	360	438	248	187	155	170	192
Debt incl. finance leases	730	723	730	746	983	981	982	1,045	1,058	1,018
Total assets	2,492	2,726	2,624	2,636	2,612	2,226	1,964	1,872	1,733	1,833
Total liabilities	1,770	1,871	1,773	1,760	1,988	1,895	1,862	1,962	1,866	1,925
Shareholders' equity	697	827	825	856	607	325	108	−81	−126	−84
Margins and ratios
Gross margin	19.1%	18.6%	15.1%	11.6%	6.2%	3.7%	5.1%	10.3%	11.1%	11.9%
Operating margin	7.1%	7.4%	3.0%	5.0%	−11.3%	−9.0%	−4.2%	1.6%	2.6%	3.2%
Net margin	4.0%	3.8%	2.9%	2.2%	−11.3%	−13.8%	−8.5%	−7.2%	−2.9%	−0.1%
Free cash flow margin	5.8%	3.5%	−1.9%	−2.1%	−4.5%	−9.1%	−4.2%	1.3%	0.9%	0.6%
Rule of 40 (growth + FCF margin)	—	7.7%	−1.7%	−16.4%	−28.1%	−11.0%	4.1%	12.8%	−2.1%	1.0%
Return on capital	18.4%	17.4%	9.3%	7.7%	−17.5%	−14.8%	−8.5%	4.3%	7.1%	9.2%
Return on equity	21.4%	18.1%	12.6%	8.0%	−36.6%	−69.3%	−99.6%	—	—	—
Return on assets	5.8%	5.3%	3.9%	2.6%	−10.2%	−13.3%	−10.3%	−10.5%	−4.4%	−0.2%
Net debt to EBITDA	0.7x	0.5x	1.8x	1.3x	—	—	45.5x	5.7x	5.1x	4.5x

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Cooper-Standard's Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Cooper-Standard.