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Methode Electronics, Inc. designs, engineers, produces, and sells mechatronic products internationally. The company operates in three segments: Automotive, Industrial, and Interface. The Automotive segment supplies electronic and electro-mechanical devices and related products to automobile original equipment manufacturers directly or through their tiered suppliers. This segment products include integrated overhead and center consoles, hidden and ergonomic switches, transmission lead-frames, complex insert molded solutions, LED-based lighting solutions, and sensors, which incorporate magneto-elastic sensing, or other sensing technologies that monitor the operation or status of a component or system. The Industrial segment manufactures exterior and interior lighting solutions, industrial safety radio remote controls, braided flexible cables, current-carrying laminated busbars and devices, custom power-product assemblies comprising PowerRail solutions, high-current high-voltage flexible power cabling systems, and powder-coated busbars that are used in various markets and applications, including aerospace, commercial vehicles, data centers, industrial equipment, military, power conversion, telecommunications, and transportation. The Interface segment provides a variety of high-speed digital communication over copper media solutions for the data center and broadband markets, and interface panel solutions for the appliance market; and solutions, including copper transceivers, distribution point units, and solid-state field-effect consumer touch panels. The company serves end markets of transportation, including automotive, commercial vehicle, e-bike, aerospace, bus, and rail; and cloud computing infrastructure, construction equipment, and consumer appliance industries. Methode Electronics, Inc. was incorporated in 1946 and is headquartered in Southfield, Michigan.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.0B | $30M | $-63M | $-15M | -9.0% | -6.0% | - |
| 2024 | $1.1B | $-54M | $-123M | $-3M | -16.1% | -5.5% | -259.9% |
| 2023 | $1.2B | $142M | $77M | $91M | 8.1% | 1.4% | -24.6% |
| 2022 | $1.2B | $175M | $102M | $61M | 11.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1,163.60 | 1,179.60 | 1,114.50 | 1,048.10 |
| Cost Of Revenue | 898.70 | 915.50 | 935.70 | 884.70 |
| Gross Profit | 264.90 | 264.10 | 178.80 | 163.40 |
| Operating Expense | 153.20 | 173.70 | 184.90 | 187.30 |
| Operating Income | 111.70 | 90.40 | -6.10 | -23.90 |
| EBITDA | 174.60 | 142.30 | -53.50 | 30.40 |
| EBIT | 122 | 92.80 | -111.40 | -28.10 |
| Pretax Income | 118.50 | 90.10 | -128.10 | -50.10 |
| Tax Provision | 16.30 | 13 | -4.80 | 12.50 |
| Net Income | 102.20 | 77.10 | -123.30 | -62.60 |
| Net Income Common Stockholders | 102.20 | 77.10 | -123.30 | -62.60 |
| Total Expenses | 1,051.90 | 1,089.20 | 1,120.60 | 1,072 |
| Interest Expense | 3.50 | 2.70 | 16.70 | 22 |
| Selling General And Administration | 134.10 | 154.90 | 160.90 | 163.90 |
| Normalized EBITDA | 174.60 | 142.30 | 52.40 | 30.40 |
| Normalized Income | 102.20 | 77.10 | -21.32 | -62.60 |
| Basic EPS | 2.74 | 2.14 | -3.48 | -1.77 |
| Diluted EPS | 2.70 | 2.10 | -3.48 | -1.77 |
| Tax Effect Of Unusual Items | 0 | 0 | -3.92 | 0 |
| Tax Rate For Calcs | 0.14 | 0.14 | 0.04 | 0.21 |
| Total Unusual Items | 0 | 0 | -105.90 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | -105.90 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 102.20 | 77.10 | -123.30 | -62.60 |
| Reconciled Depreciation | 52.60 | 49.50 | 57.90 | 58.50 |
| Reconciled Cost Of Revenue | 865.20 | 884.80 | 901.80 | 849.60 |
| Net Interest Income | -3.50 | -2.70 | -16.70 | -22 |
| Net Income From Continuing And Discontinued Operation | 102.20 | 77.10 | -123.30 | -62.60 |
| Total Operating Income As Reported | 111.70 | 90.40 | -112 | -23.90 |
| Diluted Average Shares | 37.85 | 36.71 | 35.43 | 35.37 |
| Basic Average Shares | 37.30 | 36.03 | 35.43 | 35.37 |
| Diluted NI Availto Com Stockholders | 102.20 | 77.10 | -123.30 | -62.60 |
| Minority Interests | 0 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | 102.20 | 77.10 | -123.30 | -62.60 |
| Net Income Continuous Operations | 102.20 | 77.10 | -123.30 | -62.60 |
| Other Income Expense | 10.30 | 2.40 | -105.30 | -4.20 |
| Other Non Operating Income Expenses | 10.30 | 2.40 | 0.60 | -4.20 |
| Special Income Charges | 0 | 0 | -105.90 | 0 |
| Impairment Of Capital Assets | 0 | 0 | 105.90 | 0 |
| Net Non Operating Interest Income Expense | -3.50 | -2.70 | -16.70 | -22 |
| Interest Expense Non Operating | 3.50 | 2.70 | 16.70 | 22 |
| Depreciation Amortization Depletion Income Statement | 19.10 | 18.80 | 24 | 23.40 |
| Depreciation And Amortization In Income Statement | 19.10 | 18.80 | 24 | 23.40 |
| Amortization | 19.10 | 18.80 | 24 | 23.40 |
| Amortization Of Intangibles Income Statement | 19.10 | 18.80 | 24 | 23.40 |
| Operating Revenue | 1,163.60 | 1,179.60 | 1,114.50 | 1,048.10 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Methode Electronics, Inc.this co. | MEI | $271M | - | 0.40 | -9.0% | 12.89 |
| CS Disco, Inc. | LAW | $285M | - | 2.22 | -34.6% | -4.74 |
| Atomera Incorporated | ATOM | $281M | - | 12.76 | -109.8% | -13.04 |
| Palladyne AI Corp. | PDYN | $274M | 24.21 | 3.59 | 13.4% | -7.50 |
| Conduent Incorporated | CNDT | $265M | - |
| 0.39 |
| -24.8% |
| 18.79 |
| Asure Software, Inc. | ASUR | $264M | - | 1.31 | -6.6% | 17.27 |
| 8x8, Inc. | EGHT | $254M | - | 1.77 | -22.3% | 14.50 |
| Backblaze, Inc. | BLZE | $251M | - | 2.95 | -30.8% | -48.22 |
| Bakkt, Inc. | BKKT | $240M | - | 1.78 | -95.1% | -1.84 |
| Peer Median | - | 24.21 | 2.00 | -27.8% | -3.29 | |