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Lear Corp key statistics and ratios

In fiscal 2025, Lear Corp had return on equity of 9.2%, an operating margin of 3.3%, debt equal to 54.5% of equity and a current ratio of 1.35. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMOct 2026
Gross margin——————11.4%11.2%11.0%8.8%6.5%7.2%6.7%7.3%7.0%6.5%6.9%
Operating margin———4.5%5.2%6.5%7.9%7.9%7.8%5.4%2.7%3.5%3.1%4.0%3.8%3.3%3.7%
Net margin3.7%3.8%8.8%2.7%3.8%4.1%5.3%6.4%5.4%3.8%0.9%1.9%1.6%2.4%2.2%1.9%2.5%
Free-cash-flow margin3.6%3.3%1.9%2.2%2.8%4.3%5.9%5.8%5.2%3.4%1.2%0.4%1.8%2.7%2.4%2.3%2.9%
Return on equity17.8%22.1%43.3%13.2%22.4%25.3%32.6%36.4%27.5%17.6%3.6%8.2%7.0%11.9%10.8%9.2%11.6%
Return on assets6.6%7.9%16.9%5.2%7.7%8.1%10.1%12.0%9.8%6.2%1.2%2.8%2.4%4.0%3.5%3.0%3.9%
Asset turnover1.812.081.921.962.031.971.921.871.801.631.321.451.541.651.621.611.58
Current ratio1.561.551.511.381.311.381.351.361.401.371.331.421.351.351.321.351.18
Debt to equity28.4%28.5%18.0%34.7%58.1%67.1%63.9%47.5%47.1%53.7%51.9%56.0%55.8%56.3%62.0%54.5%54.9%
Interest cover (operating income ÷ interest)———10.8x13.8x13.7x17.7x18.8x19.7x11.6x4.6x7.4x6.6x9.2x8.4x7.7x9.1x
Effective tax rate5.5%11.2%—31.6%15.4%27.7%27.7%12.9%20.3%15.3%31.4%23.6%26.3%23.3%26.1%24.0%19.8%
R&D as % of revenue0.7%0.8%0.7%0.7%0.6%0.7%0.8%0.7%0.7%0.8%———————
SG&A as % of revenue3.8%3.4%3.3%3.3%3.0%3.2%3.3%3.1%2.9%3.1%3.5%3.3%3.3%3.0%3.0%3.0%3.2%
Capital spending as % of revenue1.6%2.3%3.1%2.8%2.4%2.7%2.8%2.9%3.2%3.0%2.7%3.0%3.1%2.7%2.4%2.4%2.8%
Free cash flow ÷ net income97.8%85.2%21.2%83.3%74.8%105.3%111.9%90.5%95.9%90.3%133.0%22.7%116.9%108.8%110.8%120.7%119.9%
Dividends ÷ net income—9.5%4.3%13.5%9.7%10.5%9.1%10.5%16.2%24.7%42.5%28.5%56.6%31.8%34.3%37.7%27.1%
Dividends and buybacks ÷ free cash flow—71.7%102.2%294.4%94.8%72.1%68.5%49.5%80.8%83.9%65.1%243.5%74.6%76.8%105.2%92.9%97.6%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 6 checks passed · October 3, 2026
What it owns · $15.3bn
Short-term assets $8.0bnLonger-term assets $7.3bn
What it owes, and who funded it · $11.8bn
Short-term liabilities $6.8bnShareholders' equity $5.0bn
  • Short-term assets cover short-term liabilities $8.0bn of assets due within a year against $6.8bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $889m of cash against $2.1bn of debt.
  • Debt below 40% of shareholders' equity Debt is 42% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 56% to 42% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.4bn of operating cash flow against $2.1bn of debt.
  • Operating profit covers interest at least five times over Operating income of $875m against $96m of interest.

From Lear Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

52 /100

Moderate moat

How hard Lear's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 11 / 20

    Cash operating profit has been a median 8.9% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 8.6%, moving by 1.8 percentage points (standard deviation) across 10 years.

  • Durability 7 / 20

    Operating margin has been a median 3.7%; its worst year was 1.9%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 10 of 10 years, at a median 2.8% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 15.3% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (57 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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More: Automotive Parts & Equipment stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Lear Corp's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Lear Corp.