Tearsheet

Commercial Vehicle (CVGI)

Market Price (12/24/2025): $1.5 | Market Cap: $50.8 Mil
Sector: Consumer Discretionary | Industry: Automotive Parts & Equipment

Commercial Vehicle (CVGI)

Market Price (12/24/2025): $1.5
Market Cap: $50.8 Mil
Sector: Consumer Discretionary
Industry: Automotive Parts & Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Megatrend and thematic drivers Megatrends include Electric Vehicles & Autonomous Driving, and Advanced Materials. Themes include EV Manufacturing, Autonomous Driving Technology, Show more.	Weak multi-year price returns 2Y Excs Rtn is -123%, 3Y Excs Rtn is -157%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -4.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.6%
1			Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 178%
2			Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -13%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -12%, Rev Chg QQuarterly Revenue Change % is -11%
3			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -114%
4			Key risks CVGI key risks include [1] uncertainty surrounding its electric vehicle strategy and [2] a weakening liquidity position that has resulted in a credit downgrade.

0	Megatrend and thematic drivers Megatrends include Electric Vehicles & Autonomous Driving, and Advanced Materials. Themes include EV Manufacturing, Autonomous Driving Technology, Show more.
1	Weak multi-year price returns 2Y Excs Rtn is -123%, 3Y Excs Rtn is -157%
2	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -4.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.6%
3	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 178%
4	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -13%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -12%, Rev Chg QQuarterly Revenue Change % is -11%
5	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -114%
6	Key risks CVGI key risks include [1] uncertainty surrounding its electric vehicle strategy and [2] a weakening liquidity position that has resulted in a credit downgrade.

Valuation, Metrics & Events

	12/24/25	2024	2023	2022	2021
Share Price CYE	$1.50	$2.48	$7.01	$6.81	$8.06
Market Cap CYE ($ Mil)	50.8	83.1	232.2	207.6	255.6
Total Debt ($ Mil)	120.5	166.3	173.4	179.3	222.5
Total Cash ($ Mil)	31.3	26.6	37.8	31.8	35.0
Enterprise Value ($ Mil)	140.0	249.4	405.6	386.9	478.1
Valuation Ratios
P/S TTM	0.1	0.1	0.3	0.3	0.3
P/EBIT TTM	-10.4	88.8	6.0	16.4	5.9
P/E TTM	-0.9	-3.0	4.7	-10.0	10.7
P/FCF TTM	-9.5	-1.6	12.5	4.5	-5.3
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9	0.9	1.4
P/EBIT TTM (Sector)	7.7	8.3	7.7	6.5	8.2
P/E TTM (Sector)	10.3	11.1	10.3	8.4	10.6
P/FCF TTM (Sector)	11.3	12.4	9.5	7.3	10.4

	12/24/25	2024	2023
Share Price CYE	$1.50	$2.48	$7.01
Market Cap CYE ($ Mil)	50.8	83.1	232.2
Total Debt ($ Mil)	120.5	166.3	173.4
Total Cash ($ Mil)	31.3	26.6	37.8
Enterprise Value ($ Mil)	140.0	249.4	405.6
Valuation Ratios
P/S TTM	0.1	0.1	0.3
P/EBIT TTM	-10.4	88.8	6.0
P/E TTM	-0.9	-3.0	4.7
P/FCF TTM	-9.5	-1.6	12.5
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9
P/EBIT TTM (Sector)	7.7	8.3	7.7
P/E TTM (Sector)	10.3	11.1	10.3
P/FCF TTM (Sector)	11.3	12.4	9.5

	CVGI	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	0.7
Rev Chg Q	-11.2%	7.3%
Rev Chg LTM	-12.8%	6.1%
Rev Chg 3Y Avg	-11.9%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.0
CFO LTM ($ Bil)	0.0
Net Inc LTM ($ Bil)	-0.1
Op Mgn LTM	-0.6%	18.8%
CFO/Rev LTM	0.9%	20.4%
Net Inc Mgn	-8.3%	13.1%
VALUATION	VERY LOW
P/S	0.1	3.2
P/CFO	8.9	15.7
P/FCF	-9.5	20.7
P/E	-0.9	23.5
STABILITY	POOR
Debt/Equity	2.37	0.21
Cash/Assets	0.08	0.07

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Metric	Value	Date	Source
New Business Wins (when fully ramped)	in excess of $150 million	3042024	Link
Revenue Concentration (Top Two Customers)	approximately 30% of the Company's revenue	4282022	Link
Number of Employees	6400	9112025	Link
Initial E-commerce Product Offering	over 250	4122023	Link

Upcoming
3/09/2026	Earnings Release	Rev: - EPS: -

CVGI Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Here are the key points for the approximate -15.9% stock movement of Commercial Vehicle Group (CVGI) from August 31, 2025, to today:

1. Commercial Vehicle Group reported a significant miss in its Third Quarter 2025 earnings. The company announced an EPS of -$0.14, which was considerably worse than the analyst estimate of -$0.03. Revenues also fell short of expectations, coming in at $152.5 million against a forecast of $158.73 million, leading to a stock drop of 4.66% in after-hours trading.

2. Management lowered its full-year 2025 guidance for both revenue and adjusted EBITDA. The updated outlook revised revenue to $640-$650 million from a previous range of $650-$670 million, and adjusted EBITDA to $17-$19 million from $21-$25 million. This reduction reflected weaker demand in key markets.

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Stock Movement Drivers

Fundamental Drivers

The -14.0% change in CVGI stock from 9/23/2025 to 12/23/2025 was primarily driven by a -11.2% change in the company's P/S Multiple.

	9232025	12232025	Change
Stock Price ($)	1.72	1.48	-13.95%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	676.82	657.53	-2.85%
P/S Multiple	0.09	0.08	-11.20%
Shares Outstanding (Mil)	33.80	33.88	-0.25%
Cumulative Contribution			-13.95%

LTM = Last Twelve Months as of date shown

Market Drivers

9/23/2025 to 12/23/2025

	Return	Correlation
CVGI	-14.0%
Market (SPY)	3.7%	35.2%
Sector (XLY)	2.7%	27.6%

Fundamental Drivers

The 9.6% change in CVGI stock from 6/24/2025 to 12/23/2025 was primarily driven by a 17.1% change in the company's P/S Multiple.

	6242025	12232025	Change
Stock Price ($)	1.35	1.48	9.63%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	698.52	657.53	-5.87%
P/S Multiple	0.07	0.08	17.13%
Shares Outstanding (Mil)	33.69	33.88	-0.57%
Cumulative Contribution			9.63%

LTM = Last Twelve Months as of date shown

Market Drivers

6/24/2025 to 12/23/2025

	Return	Correlation
CVGI	9.6%
Market (SPY)	13.7%	31.4%
Sector (XLY)	13.5%	29.2%

Fundamental Drivers

The -29.9% change in CVGI stock from 12/23/2024 to 12/23/2025 was primarily driven by a -18.6% change in the company's P/S Multiple.

	12232024	12232025	Change
Stock Price ($)	2.11	1.48	-29.86%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	753.78	657.53	-12.77%
P/S Multiple	0.09	0.08	-18.56%
Shares Outstanding (Mil)	33.46	33.88	-1.28%
Cumulative Contribution			-29.87%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2024 to 12/23/2025

	Return	Correlation
CVGI	-29.9%
Market (SPY)	16.7%	40.4%
Sector (XLY)	7.3%	42.7%

Fundamental Drivers

The -77.7% change in CVGI stock from 12/24/2022 to 12/23/2025 was primarily driven by a -65.4% change in the company's P/S Multiple.

	12242022	12232025	Change
Stock Price ($)	6.63	1.48	-77.68%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	975.54	657.53	-32.60%
P/S Multiple	0.22	0.08	-65.43%
Shares Outstanding (Mil)	32.46	33.88	-4.39%
Cumulative Contribution			-77.72%

LTM = Last Twelve Months as of date shown

Market Drivers

12/24/2023 to 12/23/2025

	Return	Correlation
CVGI	-79.2%
Market (SPY)	48.4%	35.3%
Sector (XLY)	38.2%	37.5%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
CVGI Return	36%	-7%	-16%	3%	-65%	-40%	-76%
Peers Return	23%	24%	-29%	4%	-29%	45%	16%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	114%
Monthly Win Rates [3]
CVGI Win Rate	58%	50%	42%	42%	25%	42%
Peers Win Rate	60%	62%	33%	42%	33%	57%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
CVGI Max Drawdown	-80%	-18%	-50%	-18%	-70%	-66%
Peers Max Drawdown	-63%	-5%	-41%	-14%	-38%	-22%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: LEA, ADNT, APTV, BWA, DAN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/23/2025 (YTD)

How Low Can It Go

Unique Key	Event	CVGI	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-69.7%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	229.6%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-80.0%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	399.2%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	161 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-59.2%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	145.3%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-97.9%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	4602.1%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	Not Fully Recovered days	1,480 days

Compare to PATK, VC, PRTS, APTV, MGA

In The Past

Commercial Vehicle's stock fell -69.7% during the 2022 Inflation Shock from a high on 5/7/2021. A -69.7% loss requires a 229.6% gain to breakeven.

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About Commercial Vehicle (CVGI)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Commercial Vehicle Group, Inc., together with its subsidiaries, designs, manufactures, produces, and sells components and assemblies in North America, Europe, and the Asia-Pacific regions. It operates in four segments: Vehicle Solutions, Warehouse Automation, Electrical Systems, and Aftermarket & Accessories. The company offers electrical wire harness assemblies that function as current carrying devices in providing electrical interconnections for gauges, lights, control functions, power circuits, powertrain and transmission sensors, emissions systems, and other electronic applications on commercial and other vehicles; and panel assemblies. It also offers electro-mechanical assemblies, such as box builds, complex automated and robotic assemblies, and large multi-cabinet control cabinets with power distribution and cabling; vinyl or cloth-covered appliqués, armrests, map pocket compartments, and sound-reducing insulations; instrument panels; and plastics decorating and finishing products. In addition, it provides cab structures; design products, including armrests, grab handles, storage systems, floor coverings, floor mats, sleeper bunks, headliners, wall panels, and privacy curtains; and mirrors, wipers, and controls used in commercial, military and specialty recreational vehicles. Further, it offers seats and seating systems, such as mechanical and air suspension, static and military seats, and bus, as well as seats for medium-and heavy-duty trucks (MD/HD trucks); office seating products; and seats, parts, and components for the aftermarket. The company supplies its products and systems for the commercial vehicle market comprising the MD/HD truck market; and MD/HD truck, bus, construction, mining, agricultural, military, industrial, municipal, off-road recreational, and specialty vehicle markets. Commercial Vehicle Group, Inc. was incorporated in 2000 and is headquartered in New Albany, Ohio.

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Here are 1-2 brief analogies for Commercial Vehicle Group (CVGI):

Magna International for heavy-duty vehicles.
A specialized Lear Corporation for commercial vehicle seating and electrical systems.

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Seating Systems: Manufactures and supplies a range of seats for commercial trucks, construction equipment, agricultural vehicles, and other specialty applications.
Wiring Systems: Produces electrical wire harnesses, cable assemblies, and related components primarily for heavy-duty trucks, construction, and agricultural equipment.
Structures and Assemblies: Provides components such as trim systems, cab structures, mirror systems, and other structural parts for commercial vehicles.
Mechanical and Electronic Controls: Offers shifters, pedals, sensors, and other control products for various vehicle and industrial applications.
Material Handling & Automation Solutions: Delivers solutions including automated guided vehicles (AGVs), intralogistics systems, and robotics for warehousing and manufacturing industries.

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Major Customers of Commercial Vehicle Group (CVGI)

Commercial Vehicle Group, Inc. (symbol: CVGI) primarily sells its products and services to other companies, specifically global commercial vehicle Original Equipment Manufacturers (OEMs) and customers in related markets, rather than directly to individuals.

Based on their recent public filings, the major customer companies that account for a significant portion of their consolidated net sales are:

Daimler Truck AG (and its affiliates)
- Primary Stock Exchange Listing: Frankfurt Stock Exchange (FWB)
- Symbol: DTG
- Note: Also trades on OTC markets under symbol DTGFF.
PACCAR Inc. (and its affiliates)
- Primary Stock Exchange Listing: NASDAQ
- Symbol: PCAR

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James R. Ray, President and Chief Executive Officer

James R. Ray was appointed President and Chief Executive Officer of Commercial Vehicle Group (CVG) in December 2023. He has been an Independent Director on CVG's Board since March 2020. Mr. Ray provides consulting services to Fortune 100 companies and private equity portfolio companies. He also serves as an Independent Director on the Board of Spirit AeroSystems, Inc., and previously served on the Boards of Leslie's, Inc. and RR Donnelley. Prior to joining CVG's Board, he served as President, Engineered Fastening at Stanley Black & Decker, Inc. from 2013 to 2020, where he held various global industrial P&L and operational leadership roles. Before that, he spent over 25 years in global P&L and engineering leadership roles at TE Connectivity, Delphi, and General Motors.

Andy Cheung, Executive Vice President, Chief Financial Officer & Information Technology

Andy Cheung joined CVG in October 2022 as Executive Vice President and Chief Financial Officer. Before his tenure at CVG, Mr. Cheung spent more than 25 years at Johnson Controls, where he advanced through various positions in finance, general management, procurement, and corporate development. His most recent role there was Vice President & Chief Financial Officer of Global Products. During his career, he has lived and worked in Japan, China, Belgium, and the United States.

Kristin Mathers, Chief Human Resources Officer

Kristin Mathers became Chief Human Resources Officer at CVG in September 2021. She previously served as Vice President of Talent Management at Baker Hughes. Ms. Mathers has extensive HR experience, including leadership roles in GE's transportation, appliance, lighting businesses, and corporate headquarters, stemming from her time with Baker Hughes and its legacy parent, GE, since 2000.

Aneezal H. Mohamed, Chief Legal Officer, Compliance Officer & Corporate Secretary

Aneezal H. Mohamed joined CVG in 2013 and has held increasingly responsible positions, including Associate General Counsel, Deputy General Counsel, Interim General Counsel, and Vice President, Legal & Compliance and Secretary. Before CVG, he was counsel with Kegler Brown Hill & Ritter and served in various capacities at Cardinal Health, such as Senior Counsel, Vice President & Associate General Counsel, and Assistant General Counsel. Earlier in his career, Mr. Mohamed was counsel to CMS Energy Corporation.

Peter Lugo, President, Global Electrical Systems

Peter Lugo joined CVG in November 2024 as President, Global Electrical Systems. In this role, he is responsible for the day-to-day oversight of the electrical business, focusing on the development and execution of commercial, engineering, and product management strategies. Prior to CVG, Mr. Lugo was the Senior Vice President, Electrical Products & Engineered Solutions at Southwire, where he drove business strategy that resulted in sustainable growth through organic activities and five acquisitions. He has also held leadership positions at companies including Bullard, Eaton Corp., Phillips Petroleum, Switchgear Systems, and General Electric.

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The key risks for Commercial Vehicle Group (CVGI) include its exposure to cyclical market demand, uncertainty surrounding its electric vehicle (EV) strategy, and a weakening liquidity position.

Cyclical Exposure and Softening Demand: CVGI's business is highly dependent on cyclical markets, particularly the construction, agriculture, and Class 8 heavy truck sectors. The company has experienced a global softening in demand within the construction and agriculture sectors, as well as a decrease in Class 8 heavy truck builds. This has directly led to lower revenue, operating losses, and a negative adjusted EBITDA in the fourth quarter of 2024. Analysts project declines of 5-10% in Construction and Agriculture markets in 2025, which could prolong margin pressures for CVGI.
EV Strategy Uncertainty and Competition: While CVGI is actively pursuing diversification into the electric vehicle market, there is significant uncertainty surrounding its EV strategy. Without clearer partnerships with EV original equipment manufacturers (OEMs) or specific product roadmaps, the company risks missing out on a defining industry shift. Furthermore, CVGI faces competition from Chinese manufacturers exporting low-cost EVs, which could limit its opportunities in this evolving market.
Liquidity and Financial Position: CVGI's financial position has been under pressure, leading S&P Global Ratings to downgrade the company due to a weaker-than-expected liquidity position in 2024, with potential for further pressure in 2025. This includes expectations of negative reported free operating cash flow (FOCF) for 2024 and constrained liquidity in 2025. The reduced liquidity is attributed to lower revenue and earnings resulting from weaker demand in its core commercial vehicle markets.

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Commercial Vehicle Group Inc. (CVGI) operates in several key addressable markets for its main products and services, which include seating systems, electrical systems (wire harnesses and controls), interior trim systems, cab structures, and plastic parts.

Addressable Markets for CVGI's Main Products and Services:

Commercial Vehicle Seating Systems:
- Globally, the commercial vehicle seating market was valued at approximately USD 7.3 billion in 2023 and is projected to reach USD 12.2 billion by 2030, growing at a CAGR of 7.2%. Other estimates indicate a global market size of USD 12.8 billion in 2024, expected to grow to USD 19.6 billion by 2034.
- In North America, the commercial vehicle seat market is a significant portion of the global market. The overall North America automotive seat market, which includes commercial vehicles, was valued at USD 19.39 billion in 2025 and is forecast to reach USD 24.58 billion by 2030, with a CAGR of 4.86%. The U.S. alone generated USD 3.8 billion in 2024 for commercial vehicle seats.
Commercial Vehicle Electrical Systems (Wire Harnesses and Controls):
- The global commercial vehicle wiring harness market was estimated at US$ 13.45 billion in 2023 and is expected to reach US$ 25.79 billion by 2031, growing at a CAGR of 8.5%. Another report valued the global commercial vehicle harness market at approximately USD 53.20 billion in 2025, with a projection to reach USD 83.22 billion by 2032.
- For North America, the commercial vehicle wiring harness market was valued at an estimated USD 6.79 billion in 2023 and is projected to reach USD 9.21 billion by 2032, exhibiting a CAGR of 4.1%. The broader North America wire harness market, encompassing various applications including commercial vehicles, was valued at US$ 22.63 billion in 2022 and is projected to reach US$ 34.14 billion by 2030.
Commercial Vehicle Interior Trim Systems:
- The global automotive interior market (which includes commercial vehicles) was valued at approximately USD 152.18 billion in 2024 and is projected to grow to USD 159.2 billion in 2025. More specifically, the automotive interior components market is estimated to be valued at USD 175.69 billion in 2025 and is expected to reach USD 276.81 billion by 2032, with a CAGR of 6.7%.
- North America is expected to be a leading region in the global automotive interior components market, holding an estimated 43.7% market share in 2025.
Commercial Vehicle Cab Structures and Structural Components:
- The global commercial vehicle body and superstructure market is expected to achieve a significant share by 2035, with a compound annual growth rate (CAGR) of 6.2% during the forecast period from 2025 to 2035.
Commercial Vehicle Plastics Parts and Assemblies:
- The global automotive plastics market (which includes commercial vehicles) is expected to grow from USD 33.0 billion in 2024 to USD 58.0 billion by 2034, at a CAGR of 5.8%.
- In North America, the automotive plastics market size is anticipated to reach USD 6.8 billion by 2030, with a CAGR of 4.6% from 2024 to 2030. The U.S. market alone for automotive plastics is projected to reach USD 5,951.4 million by 2030.

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Expected Drivers of Future Revenue Growth for Commercial Vehicle Group (CVGI)

Over the next two to three years, Commercial Vehicle Group (CVGI) is expected to drive future revenue growth through a combination of strategic initiatives and market expansion. Key anticipated drivers include new business wins in high-growth areas, the benefits of recent organizational restructuring, and the expansion of its aftermarket e-commerce platform.

1. New Business Wins in High-Growth Segments, Including Electric Vehicles

CVGI anticipates significant revenue growth from new business wins, particularly within its Global Electrical Systems segment. The company has secured new contracts totaling approximately $97 million in annualized revenue when fully ramped, with year-to-date wins in 2024 reaching $95 million. This segment is strategically pivoting towards stable demand drivers such as automotive electrification, indicating an expansion into the electric vehicle (EV) market. CVG is leveraging its expertise to supply electric vehicle assemblies and electrical wire harnesses, positioning itself to capitalize on the growing EV sector.

2. Benefits from Strategic Restructuring and Operational Efficiencies

Effective January 1, 2025, CVGI implemented a major organizational restructuring, reorganizing its business units into three core operating divisions: Global Electrical Systems, Global Seating, and Trim Systems and Components. This restructuring aims to enhance alignment with customers and end markets, improve operational efficiency, and reduce corporate and administrative costs. Management believes these strategic actions will better position the business for future growth and margin expansion in 2025 and beyond by creating a more agile and customer-centric enterprise. Leaner operations are also projected to contribute to revenue rebound in 2025 and 2026.

3. Expansion of Aftermarket E-commerce Platform

CVGI launched its aftermarket e-commerce platform, AftermarketTruckParts.com, in April 2023, initially targeting commercial vehicle operators in the U.S. market. This platform offers over 250 popular products, including brands like Bostrom Seats and National Seats, allowing customers to order directly from the factory. The expansion into aftermarket e-commerce provides a direct channel for sales growth by addressing critical issues for fleets and independent operators, such as driver retention and vehicle uptime through readily available replacement parts.

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Share Issuance

In June 2025, Commercial Vehicle Group issued five-year warrants to TCW Group to purchase up to 3,934,776 shares of common stock in two equal tranches at exercise prices of $1.58 and $2.07 respectively.
The company retains the right to repurchase up to 50% of each warrant tranche within four years.
The number of shares outstanding increased from approximately 32.51 million as of March 9, 2021, to 34.64 million as of March 14, 2025, indicating share issuance over this period.

Capital Expenditures

For the full year 2024, Commercial Vehicle Group forecasted capital expenditures between $25 million and $30 million.
In June 2025, as part of new credit facilities, annual consolidated capital expenditures are capped at $20 million, with a sublimit of $10 million for foreign capital expenditures.
The company expects a 50% reduction in planned capital expenditures for 2025, primarily focused on driving improved cash generation, supporting new business wins in the Electrical Systems segment, and reducing manufacturing costs, including investments in new plants in Mexico and Morocco.

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INDUSTRY: Automotive Parts & Equipment

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		Best Bets In Consumer Discretionary Sector
	CVGI	ABNB	BKNG	DUOL	MCD	ETSY	LOPE	ALSN	GRMN	CROX	WH
What You Pay
P/E	-0.9	31.7	34.9	21.3	26.3	30.0	22.1	12.1	24.9	21.2	17.4
P/EBIT	-10.3	30.8	20.9	77.7	18.1	13.2	14.7	8.8	22.0	18.5	10.2
What You Get
Rev Chg Q	-11.2%	9.7%	12.7%	41.1%	3.0%	2.4%	9.6%	-15.9%	11.7%	3.4%	-3.5%
Rev Chg LTM	-12.8%	10.2%	13.0%	39.9%	1.2%	2.0%	7.0%	-4.2%	16.6%	2.0%	3.4%
Rev Chg 3Y Avg	-11.9%	14.2%	17.8%	41.7%	4.2%	4.9%	6.5%	4.6%	12.2%	14.5%	-2.5%
FCF/Rev 3Y Avg	0.8%	40.2%	35.6%	30.3%	27.4%	23.8%	21.8%	21.0%	20.5%	19.8%	19.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

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2	How Low Can Commercial Vehicle Stock Really Go?	Return

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Select ideas related to CVGI. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE	11302025	BBWI	Bath & Body Works	Dip Buy	DB \| Insider Buys \| Low D/EDip Buy with Strong Insider Buying Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	10.6%	10.6%	0.0%
HRB_11262025_Dip_Buyer_FCFYield	11262025	HRB	H&R Block	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	4.8%	4.8%	-0.1%
LRN_11262025_Dip_Buyer_FCFYield	11262025	LRN	Stride	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.6%	2.6%	-4.4%
ABNB_11212025_Dip_Buyer_FCFYield	11212025	ABNB	Airbnb	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	19.5%	19.5%	0.0%
MTN_11212025_Dip_Buyer_FCFYield	11212025	MTN	Vail Resorts	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.9%	3.9%	-1.6%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
RZLT	Rezolute	0.3	18.0%	-50.6%
WW	WW International	2.4	14.2%
NRGV	Energy Vault	0.8	10.4%	122.8%
METC	Ramaco Resources	1.0	8.5%	67.0%
UAMY	United States Antimony	0.7	7.9%	240.7%
LION	Lionsgate Studios	2.6	7.4%	-71.0%
GHM	Graham	0.8	7.3%	56.3%
VG	Venture Global	17.0	6.4%
CRK	Comstock Resources	6.7	5.7%	26.6%
SSII	SS Innovations International	1.1	5.5%	-25.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TPL	Texas Pacific Land	6.8	-67.3%	-18.9%
GOSS	Gossamer Bio	0.7	-12.9%	263.1%
CSIQ	Canadian Solar	1.6	-11.8%	115.2%
TDUP	ThredUp	0.8	-11.7%	363.3%
LAB	Standard BioTools	0.6	-11.0%	-14.6%
INBX	Inhibrx Biosciences	1.2	-10.8%	407.0%
QBTS	D-Wave Quantum	10.0	-9.5%	246.7%
FDMT	4D Molecular Therapeutics	0.4	-9.3%	41.8%
FBYD	Falcons Beyond Global	0.6	-8.5%	109.8%
PVLA	Palvella Therapeutics	1.1	-8.1%	735.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LUNR	Intuitive Machines	1.9	53.2%	-9.1%
HUT	Hut 8	5.5	42.4%	156.1%
AAOI	Applied Optoelectronics	2.6	40.3%	10.3%
FBYD	Falcons Beyond Global	0.6	39.8%	109.8%
RKLB	Rocket Lab	39.8	39.1%	203.0%
DJT	Trump Media & Technology	3.9	31.9%	-58.5%
SGML	Sigma Lithium	1.5	31.9%	20.2%
ADEA	Adeia	1.9	31.0%	23.9%
TE	T1 Energy	1.1	30.7%
FOLD	Amicus Therapeutics	4.4	30.5%	50.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.0	-80.2%	-27.2%
TPL	Texas Pacific Land	6.8	-63.8%	-18.9%
FDMT	4D Molecular Therapeutics	0.4	-31.4%	41.8%
LW	Lamb Weston	5.9	-30.1%	-35.8%
TLRY	Tilray Brands	11.2	-24.5%	-20.8%
OLMA	Olema Pharmaceuticals	2.4	-19.3%	374.6%
INSP	Inspire Medical Systems	2.8	-17.8%	-48.8%
GETY	Getty Images	0.5	-17.6%	-41.7%
TDUP	ThredUp	0.8	-16.4%	363.3%
FRMI	Fermi	5.8	-15.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TE	T1 Energy	1.1	161.4%
WVE	WAVE Life Sciences	2.9	147.9%	41.3%
AAOI	Applied Optoelectronics	2.6	97.5%	10.3%
LUNR	Intuitive Machines	1.9	91.5%	-9.1%
RKLB	Rocket Lab	39.8	91.5%	203.0%
VERA	Vera Therapeutics	3.4	89.4%	27.5%
PL	Planet Labs PBC	6.3	85.8%	413.1%
ANF	Abercrombie & Fitch	5.9	77.2%	-17.2%
ARWR	Arrowhead Pharmaceuticals	9.7	72.6%	271.4%
NRGV	Energy Vault	0.8	68.8%	122.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-75.4%	-50.6%
JANX	Janux Therapeutics	0.9	-51.0%	-73.6%
LENZ	LENZ Therapeutics	0.5	-42.9%	-41.5%
FRMI	Fermi	5.8	-42.5%
GOGO	Gogo	0.6	-35.0%	-43.3%
HPK	HighPeak Energy	0.5	-29.7%	-70.1%
UP	Wheels Up Experience	0.4	-29.2%	-61.8%
ORIC	ORIC Pharmaceuticals	0.6	-28.8%	2.5%
LW	Lamb Weston	5.9	-27.5%	-35.8%
ACLX	Arcellx	3.7	-27.4%	-14.6%

Peer Comparisons for Commercial Vehicle

Peers to compare with:

Financials

	CVGI	LEA	ADNT	APTV	BWA	DAN	Median
Name	Commerci.	Lear	Adient	Aptiv	BorgWarn.	Dana
Mkt Price	1.48	117.06	19.29	76.36	45.17	23.49	34.33
Mkt Cap	0.1	6.2	1.5	16.6	9.7	3.0	4.6
Rev LTM	658	22,985	14,535	19,794	14,183	10,528	14,359
Op Inc LTM	-4	832	439	2,089	1,317	533	683
FCF LTM	-5	735	204	1,657	1,261	73	469
FCF 3Y Avg	7	591	299	1,341	816	67	445
CFO LTM	6	1,294	449	2,342	1,711	408	871
CFO 3Y Avg	24	1,173	553	2,165	1,479	458	863

Growth & Margins

	CVGI	LEA	ADNT	APTV	BWA	DAN	Median
Name	Commerci.	Lear	Adient	Aptiv	BorgWarn.	Dana
Rev Chg LTM	-12.8%	-20.8%	-1.0%	-1.0%	0.1%	14.8%	-1.0%
Rev Chg 3Y Avg	-11.9%	6.0%	1.1%	7.7%	7.8%	2.9%	4.5%
Rev Chg Q	-11.2%	1.7%	3.5%	3.1%	4.1%	1.1%	2.4%
QoQ Delta Rev Chg LTM	-2.8%	0.4%	0.9%	0.8%	1.0%	0.2%	0.6%
Op Mgn LTM	-0.6%	3.6%	3.0%	10.6%	9.3%	5.1%	4.3%
Op Mgn 3Y Avg	1.9%	3.7%	3.0%	9.8%	9.1%	3.5%	3.6%
QoQ Delta Op Mgn LTM	-0.0%	-0.1%	-0.0%	0.1%	0.1%	0.6%	0.0%
CFO/Rev LTM	0.9%	5.6%	3.1%	11.8%	12.1%	3.9%	4.8%
CFO/Rev 3Y Avg	3.2%	4.8%	3.7%	11.0%	10.5%	4.5%	4.7%
FCF/Rev LTM	-0.8%	3.2%	1.4%	8.4%	8.9%	0.7%	2.3%
FCF/Rev 3Y Avg	0.8%	2.4%	2.0%	6.8%	5.8%	0.7%	2.2%

Valuation

	CVGI	LEA	ADNT	APTV	BWA	DAN	Median
Name	Commerci.	Lear	Adient	Aptiv	BorgWarn.	Dana
Mkt Cap	0.1	6.2	1.5	16.6	9.7	3.0	4.6
P/S	0.1	0.3	0.1	0.8	0.7	0.3	0.3
P/EBIT	-10.3	8.1	13.7	8.5	17.6	6.8	8.3
P/E	-0.9	14.1	-5.5	16.4	72.0	54.8	15.3
P/CFO	8.7	4.8	3.4	7.1	5.6	7.4	6.4
Total Yield	-109.4%	9.8%	-18.1%	6.1%	2.0%	3.7%	2.9%
Dividend Yield	0.0%	2.7%	0.0%	0.0%	0.6%	1.9%	0.3%
FCF Yield 3Y Avg	-2.9%	9.5%	12.3%	6.5%	9.2%	3.5%	7.8%
D/E	2.4	0.4	1.5	0.5	0.4	1.2	0.8
Net D/E	1.8	0.3	0.9	0.4	0.2	1.0	0.7

Returns

	CVGI	LEA	ADNT	APTV	BWA	DAN	Median
Name	Commerci.	Lear	Adient	Aptiv	BorgWarn.	Dana
1M Rtn	-8.1%	13.2%	1.9%	3.0%	5.6%	12.7%	4.3%
3M Rtn	-14.0%	14.4%	-21.1%	-10.6%	3.7%	17.9%	-3.4%
6M Rtn	9.6%	28.4%	-0.6%	11.6%	36.2%	38.9%	20.0%
12M Rtn	-29.9%	27.8%	13.7%	33.9%	43.3%	107.9%	30.9%
3Y Rtn	-77.7%	3.9%	-43.4%	-16.3%	33.7%	71.9%	-6.2%
1M Excs Rtn	-12.7%	8.6%	-2.7%	-1.6%	0.9%	8.0%	-0.4%
3M Excs Rtn	-15.5%	11.9%	-24.8%	-14.3%	0.5%	14.9%	-6.9%
6M Excs Rtn	-6.9%	14.6%	-13.7%	-0.1%	23.9%	29.0%	7.2%
12M Excs Rtn	-48.9%	11.8%	-6.0%	16.2%	27.9%	91.2%	14.0%
3Y Excs Rtn	-157.4%	-77.7%	-123.7%	-97.7%	-47.5%	-14.5%	-87.7%

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/10/2025	3/17/2025	3/14/2024	3/6/2023	3/2/2022	3/9/2021	3/16/2020
Key Financials
Total Revenue	658	723	835	783	972	718	901
EBITDA	10	18	56	32	62	-5	54
Operating Income	-4	-1	40	25	50	6	41
Net Income	-55	-28	49	-22	24	-37	16
EPS	-1.60	-0.83	1.50	-0.68	0.75	-1.20	0.52
Growth Rates
Total Revenue Growth	-12.8%	-13.4%	6.8%	-19.5%	35.4%	-20.4%	0.4%
EBITDA Growth	-63.0%	-67.5%	78.1%	-48.8%	1243.6%	-110.0%	-32.2%
Operating Income Growth	-148.1%	-101.9%	60.6%	-49.9%	747.8%	-85.6%	-35.4%
Net Income Growth	-260.8%	-156.4%	324.9%	-192.6%	164.1%	-334.8%	-62.0%
Margins
EBITDA Margin	1.5%	2.5%	6.7%	4.0%	6.4%	-0.8%	6.0%
Operating Income Margin	-0.6%	-0.1%	4.8%	3.2%	5.1%	0.8%	4.5%
Net Income Margin	-8.3%	-3.9%	5.9%	-2.8%	2.4%	-5.2%	1.8%
Cash & Debt
Total Cash	31	27	38	32	35	51	40
Total Debt	121	166	173	179	223	180	193
Net Debt / (Cash)	89	140	136	147	188	129	154
Cash Flows
Net Cash from Operations	6	-33	38	69	-30	34	37
Free Cash from Operations	-5	-52	19	49	-47	27	13
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/10/2025	8/4/2025	5/6/2025	3/17/2025	11/4/2024	8/5/2024	5/6/2024	3/14/2024	11/9/2023	8/8/2023	5/2/2023	3/6/2023
Key Financials Quarterly
Total Revenue	152	172	170	163	172	194	195	194	203	262	263	36
Ebitda	2	4	5	-0	5	5	9	8	13	20	19	-2
Operating Income	-1	1	1	-5	-1	1	5	4	9	16	15	1
Net Income	-7	-5	-4	-39	10	-2	3	23	7	10	9	-32
EPS	-0.21	-0.12	-0.12	-1.15	0.28	-0.04	0.09	0.71	0.22	0.31	0.26	-0.98
Key Financials TTM
Total Revenue TTM	658	677	699	723	754	785	853	922	764	812	801	783
Ebitda TTM	10	13	15	18	27	35	50	60	50	49	39	32
Operating Income TTM	-4	-4	-4	-1	9	19	33	44	40	41	31	25
Net Income TTM	-55	-38	-35	-28	34	32	44	49	-6	-10	-17	-22
Growth Rates Quarterly
Total Revenue Growth	-11.2%	-11.2%	-12.8%	-15.7%	-15.3%	-26.1%	-25.9%	438.9%	-19.3%	4.5%	7.5%	-84.3%
EBITDA Growth	-64.1%	-33.5%	-42.3%	-105.7%	-64.4%	-73.3%	-54.1%	423.9%	6.6%	99.5%	62.3%	-122.3%
Operating Income Growth	-0.1%	-25.1%	-68.8%	-229.5%	-111.9%	-93.3%	-69.2%	505.5%	-6.5%	156.0%	74.7%	-89.6%
Net Income Growth	-174.4%	-197.6%	-246.7%	-266.3%	30.5%	-115.8%	-66.2%	172.8%	105.3%	308.0%	118.5%	-1313.5%
Margins Quarterly
EBITDA Margin	1.1%	2.1%	3.0%	-0.3%	2.7%	2.8%	4.5%	4.0%	6.4%	7.6%	7.3%	-6.7%
Operating Income Margin	-0.7%	0.5%	0.8%	-3.2%	-0.6%	0.5%	2.3%	2.1%	4.4%	6.1%	5.6%	1.9%
Net Income Margin	-4.6%	-2.8%	-2.5%	-23.7%	5.5%	-0.8%	1.5%	12.0%	3.6%	3.9%	3.3%	-89.0%
Cash & Debt
Total Cash	31	45	20	27	31	39	47	38	46	42	41	32
Total Debt	121	130	154	166	135	149	163	173	161	170	172	179
Net Debt / (Cash)	89	85	133	140	105	110	116	136	114	127	131	147
Cash Flows Quarterly
FCF from Operations	-2	19	15	-27	-17	13	-2	8	18	11	0	35
Cash Flows TTM
FCF from Operations TTM	6	-10	-16	-33	1	37	36	38	65	85	90	69
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-1.4%	1.1%	1.7%	-6.3%	-0.5%	1.2%	3.9%	4.8%	8.8%	15.1%	12.7%	0.8%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-1.4%	-1.4%	-1.2%	-0.2%	2.8%	6.0%	10.5%	12.9%	12.8%	12.3%	9.2%	7.1%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Vehicle Solutions	470	580	499	367
Electrical Systems	228	180	169	141	522
Aftermarket and Accessories	137	134	116	108
Corporate/Other		0
Industrial Automation		88	188	102
Global Seating					379
Total	835	982	972	718	901

Operating Income by Segment

$ Mil	2024	2023	2022	2021	2020
Vehicle Solutions	33	21	24	3
Electrical Systems	26	18	12	7	43
Aftermarket and Accessories	18	12	24	11
Corporate and other unallocated costs	-38
Corporate/Other		-23	-24	-28	-26
Industrial Automation		-8	15	-16
Global Seating					24
Total	40	20	50	-23	41

Price Behavior

Price Behavior

Market Price	$1.48
Market Cap ($ Bil)	0.1
First Trading Date	08/09/2004
Distance from 52W High	-40.3%
	50 Days	200 Days
DMA Price	$1.58	$1.54
DMA Trend	down	down
Distance from DMA	-6.4%	-4.1%
	3M	1YR
Volatility	53.5%	77.0%
Downside Capture	166.89	245.39
Upside Capture	66.54	174.54
Correlation (SPY)	35.3%	40.3%

CVGI Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.73	1.34	1.31	2.18	1.55	1.37
Up Beta	5.32	3.11	3.30	2.68	1.21	1.18
Down Beta	-0.39	1.25	1.51	0.91	1.42	1.37
Up Capture	242%	89%	50%	337%	241%	118%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	16	25	56	109	343
Down Capture	52%	95%	85%	221%	147%	110%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	8	20	28	57	124	375

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of CVGI With Other Asset Classes (Last 1Y)
	CVGI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-34.5%	7.8%	18.8%	72.9%	9.0%	3.7%	-11.4%
Annualized Volatility	76.7%	24.3%	19.5%	19.2%	15.3%	17.2%	35.0%
Sharpe Ratio	-0.23	0.25	0.76	2.72	0.36	0.05	-0.14
Correlation With Other Assets		42.6%	40.1%	-12.1%	9.2%	41.6%	25.7%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of CVGI With Other Asset Classes (Last 5Y)
	CVGI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-31.1%	9.9%	14.8%	18.9%	11.8%	4.7%	35.5%
Annualized Volatility	57.0%	23.8%	17.1%	15.5%	18.7%	18.9%	48.9%
Sharpe Ratio	-0.43	0.38	0.70	0.98	0.51	0.16	0.62
Correlation With Other Assets		35.1%	36.8%	1.5%	13.3%	31.0%	17.3%

Based On 10-Year Data

		Comparison of CVGI With Other Asset Classes (Last 10Y)
	CVGI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-6.1%	13.2%	14.8%	15.1%	6.8%	5.4%	69.1%
Annualized Volatility	66.8%	22.0%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.19	0.55	0.71	0.85	0.31	0.23	0.90
Correlation With Other Assets		34.1%	34.8%	-3.1%	18.2%	29.7%	10.6%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	263,462
Short Interest: % Change Since 11152025	-11.3%
Average Daily Volume	103,875
Days-to-Cover Short Interest	2.54
Basic Shares Quantity	33,885,000
Short % of Basic Shares	0.8%

Returns Analyses

	Title
0	How Low Can Commercial Vehicle Stock Really Go?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/10/2025	0.0%	0.3%	8.7%
8/4/2025	-2.7%	-1.1%	-9.7%
3/10/2025	-3.8%	-16.1%	-49.3%
11/4/2024	-22.1%	-12.0%	-25.3%
8/5/2024	-15.9%	-32.3%	-30.2%
3/4/2024	-7.7%	-8.4%	-3.2%
11/1/2023	-10.4%	-18.9%	-0.3%
8/1/2023	7.2%	-6.1%	-16.5%
...
SUMMARY STATS
# Positive	7	7	6
# Negative	11	11	12
Median Positive	6.1%	9.3%	21.4%
Median Negative	-8.7%	-14.3%	-17.3%
Max Positive	37.0%	48.1%	53.9%
Max Negative	-22.1%	-36.9%	-49.3%

	Forward Returns
11/10/2025	0.0%	0.3%	8.7%
8/4/2025	-2.7%	-1.1%	-9.7%
3/10/2025	-3.8%	-16.1%	-49.3%
11/4/2024	-22.1%	-12.0%	-25.3%
8/5/2024	-15.9%	-32.3%	-30.2%
3/4/2024	-7.7%	-8.4%	-3.2%
11/1/2023	-10.4%	-18.9%	-0.3%
8/1/2023	7.2%	-6.1%	-16.5%
3/6/2023	-12.2%	-15.2%	-16.5%
11/2/2022	5.8%	26.7%	50.6%
8/4/2022	-0.4%	0.9%	-18.1%
3/1/2022	7.7%	-0.6%	9.8%
11/2/2021	-12.1%	-14.3%	-18.3%
8/3/2021	6.1%	10.8%	16.1%
3/9/2021	-0.3%	3.9%	-1.4%
11/9/2020	4.3%	9.3%	26.7%
8/10/2020	37.0%	48.1%	53.9%
3/16/2020	-8.7%	-36.9%	-44.0%
SUMMARY STATS
# Positive	7	7	6
# Negative	11	11	12
Median Positive	6.1%	9.3%	21.4%
Median Negative	-8.7%	-14.3%	-17.3%
Max Positive	37.0%	48.1%	53.9%
Max Negative	-22.1%	-36.9%	-49.3%

SEC Filings

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Report Date	Filing Date	Filing
9302025	11102025	10-Q 9/30/2025
6302025	8042025	10-Q 6/30/2025
3312025	5062025	10-Q 3/31/2025
12312024	3172025	10-K 12/31/2024
9302024	11042024	10-Q 9/30/2024
6302024	8052024	10-Q 6/30/2024
3312024	5062024	10-Q 3/31/2024
12312023	3142024	10-K 12/31/2023
9302023	11092023	10-Q 9/30/2023
6302023	8082023	10-Q 6/30/2023
3312023	5022023	10-Q 3/31/2023
12312022	3062023	10-K 12/31/2022
9302022	11022022	10-Q 9/30/2022
6302022	8042022	10-Q 6/30/2022
3312022	5042022	10-Q 3/31/2022
12312021	3022022	10-K 12/31/2021

Insider Activity

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External Quote Links

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2	SeekingAlpha	ValueLine
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4	CNBC	Etrade
5	MarketWatch	Unusual Whales
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7	FinViz

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Commercial Vehicle (CVGI)

Market Price (12/24/2025): $1.5 | Market Cap: $50.8 MilSector: Consumer Discretionary | Industry: Automotive Parts & Equipment

Commercial Vehicle (CVGI)

Market Price (12/24/2025): $1.5Market Cap: $50.8 MilSector: Consumer DiscretionaryIndustry: Automotive Parts & Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

CVGI Stock

Why The Stock Moved

Qualitative Assessment

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Fundamental Drivers

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About Commercial Vehicle (CVGI)

Major Customers of Commercial Vehicle Group (CVGI)

Addressable Markets for CVGI's Main Products and Services:

Expected Drivers of Future Revenue Growth for Commercial Vehicle Group (CVGI)

1. New Business Wins in High-Growth Segments, Including Electric Vehicles

2. Benefits from Strategic Restructuring and Operational Efficiencies

3. Expansion of Aftermarket E-commerce Platform

Interactive Breakdown

Better Bets than Commercial Vehicle (CVGI)

INDUSTRY: Automotive Parts & Equipment

Higher Rev Chg 3Y Avg | Lower P/S (Values for CVGI: -11.9% | 0.1x)

Higher Rev Chg LTM (Value for CVGI: -12.8%)

Higher Rev Chg 3Y Avg (Value for CVGI: -11.9%)

Higher Op Mgn LTM (Value for CVGI: -0.6%)

Higher CFO/Rev LTM (Value for CVGI: 0.9%)

Higher FCF/Rev LTM (Value for CVGI: -0.8%)

Higher Total Yield (Value for CVGI: -109.4%)

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for CVGI: -11.9% | 0.1x)

Higher Rev Chg LTM (Value for CVGI: -12.8%)

Higher Rev Chg 3Y Avg (Value for CVGI: -11.9%)

Higher Op Mgn LTM (Value for CVGI: -0.6%)

Higher CFO/Rev LTM (Value for CVGI: 0.9%)

Higher FCF/Rev LTM (Value for CVGI: -0.8%)

Higher Total Yield (Value for CVGI: -109.4%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for CVGI: -11.9% | 0.1x)

Higher Rev Chg LTM (Value for CVGI: -12.8%)

Higher Rev Chg 3Y Avg (Value for CVGI: -11.9%)

Higher Op Mgn LTM (Value for CVGI: -0.6%)

Higher CFO/Rev LTM (Value for CVGI: 0.9%)

Higher FCF/Rev LTM (Value for CVGI: -0.8%)

Higher Total Yield (Value for CVGI: -109.4%)

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Market Price (12/24/2025): $1.5 | Market Cap: $50.8 Mil
Sector: Consumer Discretionary | Industry: Automotive Parts & Equipment

Market Price (12/24/2025): $1.5
Market Cap: $50.8 Mil
Sector: Consumer Discretionary
Industry: Automotive Parts & Equipment