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Strattec Security Corporation designs, develops, manufactures, and markets automotive security, access control, and user interface controls products in North America and internationally. The company offers mechanical and electronically enhanced locks and keys, fobs, passive entry passive start systems, digital key, phone as a key systems, steering column and instrument panel ignition lock housings, latches, power sliding door systems, power tailgate and lift gate systems, power deck lid systems, door handles, steering wheel switches and controller, E-shifters, paddle switches, and related products. It also provides service and aftermarket support services for its products. It markets its products to automotive and light truck original equipment manufacturers, as well as other transportation-related manufacturers; and through wholesale distributors, other marketers, and users of component parts, as well as certain products to non-automotive customers. Strattec Security Corporation was founded in 1908 and is headquartered in Milwaukee, Wisconsin.
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 | $565M | $40M | $19M | $65M | 7.6% | 5.1% | 14.5% |
| 2024 | $538M | $38M | $16M | $2M | 7.2% | 9.1% | - |
| 2023 | $493M | $11M | $-7M | $-7M | -3.2% | 9.0% | -195.1% |
| 2022 | $452M | $29M | $7M | $-4M | 3.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 452.26 | 492.95 | 537.77 | 565.07 |
| Cost Of Revenue | 396.25 | 450.79 | 472.30 | 480.49 |
| Gross Profit | 56.02 | 42.15 | 65.47 | 84.58 |
| Operating Expense | 47.12 | 48.24 | 47.65 | 61.79 |
| Operating Income | 8.90 | -6.09 | 17.81 | 22.78 |
| EBITDA | 28.86 | 10.78 | 37.65 | 40.41 |
| EBIT | 9.48 | -6.71 | 21.10 | 25.64 |
| Pretax Income | 9.26 | -7.67 | 20.20 | 24.64 |
| Tax Provision | 0.41 | 1.28 | 3.77 | 5.72 |
| Net Income | 7.02 | -6.67 | 16.31 | 18.68 |
| Net Income Common Stockholders | 7.02 | -6.67 | 16.31 | 18.68 |
| Total Expenses | 443.37 | 499.04 | 519.95 | 542.28 |
| Interest Expense | 0.22 | 0.96 | 0.90 | 1.01 |
| Interest Income | 0 | 0 | 0.57 | 2.04 |
| Selling General And Administration | 47.12 | 48.24 | 47.65 | 61.79 |
| Normalized EBITDA | 28.18 | 12.49 | 34.40 | 38.90 |
| Normalized Income | 6.37 | -5.32 | 13.67 | 17.53 |
| Basic EPS | 1.82 | -1.70 | 4.10 | 4.64 |
| Diluted EPS | 1.80 | -1.70 | 4.07 | 4.58 |
| Tax Effect Of Unusual Items | 0.03 | -0.36 | 0.61 | 0.35 |
| Tax Rate For Calcs | 0.04 | 0.21 | 0.19 | 0.23 |
| Total Unusual Items | 0.68 | -1.71 | 3.25 | 1.50 |
| Total Unusual Items Excluding Goodwill | 0.68 | -1.71 | 3.25 | 1.50 |
| Net Income From Continuing Operation Net Minority Interest | 7.02 | -6.67 | 16.31 | 18.68 |
| Reconciled Depreciation | 19.38 | 17.48 | 16.55 | 14.76 |
| Reconciled Cost Of Revenue | 396.25 | 450.79 | 472.30 | 480.49 |
| Net Interest Income | -0.22 | -0.96 | -0.33 | 1.03 |
| Net Income From Continuing And Discontinued Operation | 7.02 | -6.67 | 16.31 | 18.68 |
| Total Operating Income As Reported | 8.90 | -6.09 | 17.81 | 22.78 |
| Diluted Average Shares | 3.91 | 3.92 | 4 | 4.08 |
| Basic Average Shares | 3.86 | 3.92 | 3.98 | 4.03 |
| Diluted NI Availto Com Stockholders | 7.02 | -6.67 | 16.31 | 18.68 |
| Minority Interests | -1.83 | 2.28 | -0.12 | -0.23 |
| Net Income Including Noncontrolling Interests | 8.84 | -8.95 | 16.43 | 18.92 |
| Net Income Continuous Operations | 8.84 | -8.95 | 16.43 | 18.92 |
| Other Income Expense | 0.58 | -0.62 | 2.72 | 0.82 |
| Other Non Operating Income Expenses | -0.27 | -0.47 | -0.53 | -0.68 |
| Earnings From Equity Interest | 0.18 | 1.56 | -0.33 | 0 |
| Gain On Sale Of Security | 0.68 | -1.71 | 3.25 | 1.50 |
| Net Non Operating Interest Income Expense | -0.22 | -0.96 | -0.33 | 1.03 |
| Interest Expense Non Operating | 0.22 | 0.96 | 0.90 | 1.01 |
| Interest Income Non Operating | 0 | 0 | 0.57 | 2.04 |
| Operating Revenue | 452.26 | 492.95 | 537.77 | 565.07 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Strattec Security Corporationthis co. | STRT | $312M | 11.30↓ discount | 1.28 | 7.6% | 4.77 |
| Xponential Fitness, Inc. | XPOF | $340M | - | -0.83 | 9.1% | 6.83 |
| Lands' End, Inc. | LE | $338M | 61.00 | 1.37 | 2.3% | 6.38 |
| Ranpak Holdings Corp. | PACK | $337M | - | 0.62 | -7.2% | 12.83 |
| Barnes & Noble Education, Inc. | BNED |
| $334M |
| - |
| 1.15 |
| -24.2% |
| 10.34 |
| Weyco Group, Inc. | WEYS | $319M | 13.90 | 1.32 | 9.6% | 7.16 |
| Hyliion Holdings Corp. | HYLN | $319M | - | 1.65 | -29.8% | -3.90 |
| Kingsway Financial Services Inc. | KFS | $319M | - | 21.00 | -31.2% | 132.56 |
| Marine Products Corporation | MPX | $276M | 24.44 | 2.19 | 9.1% | 13.15 |
| Peer Median | - | 24.44 | 1.35 | -2.5% | 8.75 | |