LKQ (LKQ)
Market Price (11/4/2026): $19.57 | Market Cap: $4.9 BilSector: Consumer Discretionary | Industry: Distributors
LKQ (LKQ)
Market Price (11/4/2026): $19.57Market Cap: $4.9 BilSector: Consumer DiscretionaryIndustry: Distributors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 6.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.1%, FCF Yield is 13% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -26% Low stock price volatilityVol 12M is 43% Megatrend and thematic driversMegatrends include Circular Economy & Recycling, Sustainable Resource Management, and Sustainable Consumption. Themes include Advanced Recycling Technologies, Show more. | Weak multi-year price returns2Y Excs Rtn is -74%, 3Y Excs Rtn is -134% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 98% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.4%, Rev Chg QQuarterly Revenue Change % is -5.1% Key risksLKQ key risks include [1] waning demand for its core replacement parts, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 6.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.1%, FCF Yield is 13% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -26% |
| Low stock price volatilityVol 12M is 43% |
| Megatrend and thematic driversMegatrends include Circular Economy & Recycling, Sustainable Resource Management, and Sustainable Consumption. Themes include Advanced Recycling Technologies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -74%, 3Y Excs Rtn is -134% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 98% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.4%, Rev Chg QQuarterly Revenue Change % is -5.1% |
| Key risksLKQ key risks include [1] waning demand for its core replacement parts, Show more. |
Qualitative Assessment
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LKQ (LKQ) stock has lost about 15% since 7/31/2026 because of the following key factors:
1. Disappointing Fiscal Q3 2026 Financial Performance and Withdrawn Guidance.
LKQ reported a significant underperformance for its fiscal third quarter ended September 30, 2026. Revenue was $3.3 billion, a decrease of 5.1% compared to the third quarter of 2025, and missed analyst estimates ranging from $3.36 billion to $3.41 billion. Organic parts and services revenue declined by 5.4%. The company posted an adjusted diluted earnings per share (EPS) of $0.50, which fell short of consensus estimates that ranged from $0.53 to $0.70 per share. Following these results, LKQ withdrew its full-year 2026 guidance, which had been last updated on July 30, 2026, and previously projected adjusted EPS of $2.60 to $2.90, signaling increased uncertainty about its future financial outlook.
2. Significant Operational Weakness and Impairment Charges in the European Segment.
The primary driver of LKQ's fiscal Q3 2026 underperformance was severe operational challenges within its European segment. This segment experienced a 9.8% organic revenue decline in parts and services. Operational disruptions stemming from an Enterprise Resource Planning (ERP) system implementation in Germany were estimated to have reduced European revenue by $95 million and segment EBITDA by $43 million during the quarter. Furthermore, the company reported a net loss of $24 million for the quarter, which included $111 million in pre-tax non-cash impairment charges. These charges consisted of an $88 million goodwill impairment related to the Specialty segment and a $23 million impairment on net assets held for sale in Romania, reflecting a re-evaluation of asset values due to the operational difficulties.
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LKQ (LKQ) stock has lost about 15% since 7/31/2026 because of the following key factors:
1. Disappointing Fiscal Q3 2026 Financial Performance and Withdrawn Guidance.
LKQ reported a significant underperformance for its fiscal third quarter ended September 30, 2026. Revenue was $3.3 billion, a decrease of 5.1% compared to the third quarter of 2025, and missed analyst estimates ranging from $3.36 billion to $3.41 billion. Organic parts and services revenue declined by 5.4%. The company posted an adjusted diluted earnings per share (EPS) of $0.50, which fell short of consensus estimates that ranged from $0.53 to $0.70 per share. Following these results, LKQ withdrew its full-year 2026 guidance, which had been last updated on July 30, 2026, and previously projected adjusted EPS of $2.60 to $2.90, signaling increased uncertainty about its future financial outlook.
2. Significant Operational Weakness and Impairment Charges in the European Segment.
The primary driver of LKQ's fiscal Q3 2026 underperformance was severe operational challenges within its European segment. This segment experienced a 9.8% organic revenue decline in parts and services. Operational disruptions stemming from an Enterprise Resource Planning (ERP) system implementation in Germany were estimated to have reduced European revenue by $95 million and segment EBITDA by $43 million during the quarter. Furthermore, the company reported a net loss of $24 million for the quarter, which included $111 million in pre-tax non-cash impairment charges. These charges consisted of an $88 million goodwill impairment related to the Specialty segment and a $23 million impairment on net assets held for sale in Romania, reflecting a re-evaluation of asset values due to the operational difficulties.
3. Leadership Transition and Pause of Strategic Review.
Adding to the uncertainty, LKQ announced a significant leadership change on October 23, 2026, with Justin Jude departing as CEO and Salvatore A. Abbate appointed as the new President and Chief Executive Officer, effective December 15, 2026. Concurrently, the company paused its strategic review, including the process for selling its Specialty segment. This pause was enacted to allow the incoming CEO to thoroughly assess the business and determine the best path for value creation, which introduced a period of strategic ambiguity for investors.
4. Broader Automotive Aftermarket Sector Downturn and Analyst Downgrades.
Beyond company-specific issues, the broader automotive aftermarket sector experienced headwinds in fiscal Q3 2026. The overall Automotive Aftermarket Index fell by 9.0%, with the Parts Suppliers segment, relevant to LKQ, seeing an 11.8% decline. This sector-wide softening was compounded for LKQ by several analyst downgrades and price target reductions following the disappointing preliminary Q3 results. For instance, Roth Capital downgraded LKQ from a "buy" rating to a "neutral" rating and substantially reduced its price target from $35.00 to $18.00 on October 26, 2026. Similarly, Barrington Research lowered its rating on LKQ from "outperform" to "market perform" on October 23, 2026.
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Stock Movement Drivers
Fundamental Drivers
The -13.2% change in LKQ stock from 7/31/2026 to 11/3/2026 was primarily driven by a -43.9% change in the company's Net Income Margin (%).| (LTM values as of) | 7312026 | 11032026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.19 | 19.26 | -13.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 13,688 | 13,508 | -1.3% |
| Net Income Margin (%) | 3.4% | 1.9% | -43.9% |
| P/E Multiple | 12.3 | 19.1 | 55.9% |
| Shares Outstanding (Mil) | 255 | 253 | 0.7% |
| Cumulative Contribution | -13.2% |
Market Drivers
7/31/2026 to 11/3/2026| Return | Correlation | |
|---|---|---|
| LKQ | -13.2% | |
| Market (SPY) | 1.0% | 16.6% |
| Sector (XLY) | 1.1% | 40.2% |
Fundamental Drivers
The -37.6% change in LKQ stock from 4/30/2026 to 11/3/2026 was primarily driven by a -49.6% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 11032026 | Change |
|---|---|---|---|
| Stock Price ($) | 30.85 | 19.26 | -37.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 13,793 | 13,508 | -2.1% |
| Net Income Margin (%) | 3.7% | 1.9% | -49.6% |
| P/E Multiple | 15.2 | 19.1 | 25.3% |
| Shares Outstanding (Mil) | 255 | 253 | 1.0% |
| Cumulative Contribution | -37.6% |
Market Drivers
4/30/2026 to 11/3/2026| Return | Correlation | |
|---|---|---|
| LKQ | -37.6% | |
| Market (SPY) | 5.2% | 7.0% |
| Sector (XLY) | -0.7% | 32.8% |
Fundamental Drivers
The -37.1% change in LKQ stock from 10/31/2025 to 11/3/2026 was primarily driven by a -63.3% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 11032026 | Change |
|---|---|---|---|
| Stock Price ($) | 30.61 | 19.26 | -37.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 13,565 | 13,508 | -0.4% |
| Net Income Margin (%) | 5.1% | 1.9% | -63.3% |
| P/E Multiple | 11.3 | 19.1 | 69.2% |
| Shares Outstanding (Mil) | 257 | 253 | 1.7% |
| Cumulative Contribution | -37.1% |
Market Drivers
10/31/2025 to 11/3/2026| Return | Correlation | |
|---|---|---|
| LKQ | -37.1% | |
| Market (SPY) | 11.5% | 16.4% |
| Sector (XLY) | -1.6% | 36.6% |
Fundamental Drivers
The -51.5% change in LKQ stock from 10/31/2023 to 11/3/2026 was primarily driven by a -73.5% change in the company's Net Income Margin (%).| (LTM values as of) | 10312023 | 11032026 | Change |
|---|---|---|---|
| Stock Price ($) | 39.68 | 19.26 | -51.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 13,366 | 13,508 | 1.1% |
| Net Income Margin (%) | 7.1% | 1.9% | -73.5% |
| P/E Multiple | 11.2 | 19.1 | 71.3% |
| Shares Outstanding (Mil) | 268 | 253 | 5.9% |
| Cumulative Contribution | -51.5% |
Market Drivers
10/31/2023 to 11/3/2026| Return | Correlation | |
|---|---|---|
| LKQ | -51.5% | |
| Market (SPY) | 86.6% | 25.1% |
| Sector (XLY) | 57.8% | 36.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LKQ Return | 71% | -9% | -9% | -21% | -15% | -34% | -37% |
| Peers Return | 36% | -7% | 24% | 8% | 9% | 13% | 110% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| LKQ Win Rate | 75% | 33% | 42% | 42% | 58% | 45% | |
| Peers Win Rate | 62% | 43% | 48% | 57% | 52% | 53% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| LKQ Max Drawdown | -12% | -29% | -27% | -31% | -34% | -49% | |
| Peers Max Drawdown | -20% | -33% | -26% | -25% | -27% | -34% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: WCC, POOL, PATK, GPC, ARMK. See LKQ Returns vs. Peers.
[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] 2026 data is for the year up to 11/3/2026 (YTD)
How Low Can It Go
| Event | LKQ | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -27.0% | -24.5% |
| % Gain to Breakeven | 37.0% | 32.4% |
| Time to Breakeven | 309 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -59.1% | -33.7% |
| % Gain to Breakeven | 144.6% | 50.9% |
| Time to Breakeven | 225 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -26.1% | -19.2% |
| % Gain to Breakeven | 35.4% | 23.8% |
| Time to Breakeven | 102 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -21.3% | -3.7% |
| % Gain to Breakeven | 27.1% | 3.9% |
| Time to Breakeven | 152 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -23.1% | -12.2% |
| % Gain to Breakeven | 30.0% | 13.9% |
| Time to Breakeven | 51 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -16.8% | -6.8% |
| % Gain to Breakeven | 20.1% | 7.3% |
| Time to Breakeven | 54 days | 15 days |
In The Past
LKQ's stock fell -4.9% during the 2025 US Tariff Shock. Such a loss loss requires a 5.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | LKQ | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -27.0% | -24.5% |
| % Gain to Breakeven | 37.0% | 32.4% |
| Time to Breakeven | 309 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -59.1% | -33.7% |
| % Gain to Breakeven | 144.6% | 50.9% |
| Time to Breakeven | 225 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -26.1% | -19.2% |
| % Gain to Breakeven | 35.4% | 23.8% |
| Time to Breakeven | 102 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -21.3% | -3.7% |
| % Gain to Breakeven | 27.1% | 3.9% |
| Time to Breakeven | 152 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -23.1% | -12.2% |
| % Gain to Breakeven | 30.0% | 13.9% |
| Time to Breakeven | 51 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -22.0% | -17.9% |
| % Gain to Breakeven | 28.2% | 21.8% |
| Time to Breakeven | 38 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -60.7% | -53.4% |
| % Gain to Breakeven | 154.7% | 114.4% |
| Time to Breakeven | 707 days | 1085 days |
In The Past
LKQ's stock fell -4.9% during the 2025 US Tariff Shock. Such a loss loss requires a 5.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About LKQ (LKQ)
LKQ Corporation is a global distributor of replacement parts, components, and systems used in the repair and maintenance of vehicles. The company operates across three primary segments: North America, Europe, and Specialty, providing essential parts to keep a wide variety of vehicles on the road.
Its product portfolio is extensive, covering both collision and mechanical parts, as well as specialty items. For collision repair, LKQ supplies bumper covers, automotive body panels, lights, and automotive glass products like windshields. For mechanical repairs, it offers salvage products such as engines, transmissions, door assemblies, and sheet metal products like fenders and hoods, alongside consumable items like brake pads, filters, oils, fluids, spark plugs, and batteries. The Specialty segment includes products for recreational vehicles (RV appliances, air conditioners), towing hitches, truck bed covers, wheels, and tires.
LKQ primarily serves professional repair markets, catering to collision and mechanical repair shops, as well as new and used car dealerships. In addition to these business-to-business customers, the company also serves retail customers. Its operations span across the United States, Canada, numerous countries in Europe (including the UK, Germany, Italy, etc.), and Taiwan, indicating a significant international footprint in the automotive aftermarket industry.
AI Analysis | Feedback
They are like NAPA Auto Parts for recycled and aftermarket car parts.
Think of them as the Grainger of vehicle components for repair and maintenance.
Imagine a national auto parts store (like AutoZone or O'Reilly Auto Parts) that also processes salvaged vehicles for parts and distributes specialty vehicle accessories.
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- Collision Repair Parts: LKQ distributes new and salvaged automotive body panels, bumper covers, lights, and glass products like windshields for vehicle repair.
- Mechanical Repair Parts: The company provides new and salvaged mechanical components such as engines, transmissions, brakes, clutches, steering and suspension parts, filters, and electrical products.
- Specialty Vehicle Products: LKQ offers a range of aftermarket products including RV appliances, air conditioners, towing hitches, truck bed covers, wheels, and tires.
- Scrap Metal: The company sells scrap metal and other materials generated from its salvage operations to metals recyclers.
AI Analysis | Feedback
LKQ Corporation primarily sells to other businesses. Based on the provided background information, its major customer categories are:
- Collision and mechanical repair shops
- New and used car dealerships
The company also serves retail customers, which are individuals.
The background information does not identify specific named public companies as major customers. LKQ serves a broad and dispersed network of businesses within the automotive repair and maintenance industry.
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Justin Jude President and Chief Executive Officer
Justin Jude assumed the role of President and Chief Executive Officer of LKQ Corporation in July 2024. He has been with LKQ since February 2004, holding various leadership positions including Executive Vice President and Chief Operating Officer from January 2024 to June 2024, and Senior Vice President and President of Wholesale – North America from July 2015 through December 2023. Mr. Jude also served as President of Keystone Automotive Operations, Inc. from June 2014 to July 2015. He currently serves as CEO and Director of Pick-Your-Part Auto Wrecking, Inc. and Director of LKQ India Pvt Ltd., which are likely LKQ subsidiaries.
Rick Galloway Senior Vice President and Chief Financial Officer
Rick Galloway was appointed Senior Vice President and Chief Financial Officer of LKQ Corporation in September 2022. Prior to this, he served as Chief Financial Officer of LKQ's Wholesale – North America and Self Service segments starting in 2019. Before joining LKQ, Mr. Galloway held various positions at Alcoa Corporation from 2010 to 2019, including Chief Financial Officer of Alcoa's Engineered Products and Solutions division, which encompassed 97 manufacturing facilities globally. He began his career in public accounting with Grant Thornton as an auditor.
Andy Hamilton Senior Vice President of LKQ Corporation and President and Managing Director of LKQ Europe
Andy Hamilton became Senior Vice President of LKQ Corporation and President and Managing Director of LKQ Europe in January 2024. He joined Euro Car Parts in 2010, which was subsequently acquired by LKQ in 2011. During his tenure at Euro Car Parts, he held several executive roles, including Chief Operating Officer, and later served as Chief Commercial Officer of LKQ Europe from 2016. From 2019 through 2023, Mr. Hamilton was the Chief Executive Officer of LKQ Euro Car Parts. Prior to his time at LKQ, he held various management roles for Halfords Group.
John R. Meyne Senior Vice President of LKQ Corporation and President of North America
John R. Meyne was appointed Senior Vice President of LKQ Corporation and President of North America in January 2024. He joined LKQ in July 2009. His previous roles at LKQ include East Division Vice President of North America from 2022 to 2023 and Regional Vice President for the Southeast Region of the North America segment from 2011 to 2021. Mr. Meyne began his career in the industry with Keystone Automotive Industries, Inc. in 1987, and in 2006, he started his own aftermarket collision parts company, which was acquired by LKQ in 2009.
Walter P. Hanley Senior Vice President, Business Development and Strategy
Walter P. Hanley became Senior Vice President of Business Development and Strategy in October 2024. He has been with LKQ since December 2002, initially serving as Vice President of Development, Associate General Counsel, and Assistant Secretary until December 2005. From December 2005 to October 2024, he held the position of Senior Vice President of Development.
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The key risks to LKQ Corporation's business include the transformative impact of evolving vehicle technology, macroeconomic headwinds affecting demand, and intense competition within the automotive aftermarket.
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Technological Disruption from Electric and Autonomous Vehicles: The automotive industry is undergoing a significant transformation with the rise of electric vehicles (EVs) and autonomous driving technology. This shift poses a substantial long-term risk to LKQ's core business of distributing replacement parts for traditional internal combustion engine (ICE) vehicles. Electric vehicles generally require fewer mechanical replacement parts, such as exhaust components and fewer brake replacements due to regenerative braking. LKQ Europe estimates that battery-electric vehicles will require up to 40% fewer parts in the future. Furthermore, advancements in autonomous driving systems are expected to significantly reduce the number of traffic accidents, thereby decreasing the demand for collision repair parts. This evolution necessitates substantial investments in new capabilities and a strategic adaptation of LKQ's business model to cater to the needs of these new vehicle technologies.
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Economic Downturns and Macroeconomic Headwinds: LKQ's business is highly sensitive to broader economic conditions, including inflation, interest rates, and consumer sentiment. Economic downturns can lead to reduced vehicle usage, fewer accidents, and a decrease in discretionary spending on vehicle repairs and maintenance, directly impacting the demand for LKQ's products. The company has explicitly cited macroeconomic headwinds, softening consumer sentiment, and inflationary pressures as significant challenges, particularly impacting its Specialty segment and overall performance in regions like Europe. A persistent decline in repairable claims, influenced by factors such as decreasing used car pricing relative to repair costs and rising insurance premiums, also pressures the company's revenue.
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Intense Competition and Pricing Pressure: The automotive parts industry is characterized by intense competition from numerous players, including original equipment manufacturers (OEMs), other aftermarket distributors, and online retailers. This competitive landscape can lead to pricing pressure and impact LKQ's profit margins. OEMs may also exert pressure by attempting to "lock down" their ecosystems, limiting the market for "like-kind-quality" replacement parts and forcing vehicles to source parts directly from specific manufacturers. LKQ has specifically noted persistent competition in Europe as an ongoing risk that limits its ability to pass on price increases.
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The increasing adoption of Electric Vehicles (EVs) represents a clear emerging threat to LKQ. EVs possess significantly fewer mechanical components compared to traditional internal combustion engine (ICE) vehicles. This fundamental difference is likely to reduce the demand for a substantial portion of LKQ's product offerings, particularly in its mechanical and salvage segments, which include engines, transmissions, oil, filters, spark plugs, and clutches. As the global vehicle fleet transitions towards electrification, the market for many of the core ICE-specific replacement parts distributed by LKQ will diminish.
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Addressable Markets for LKQ's Main Products and Services:
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Automotive Aftermarket Parts (Mechanical and General Replacement Parts)
- North America: The automotive aftermarket industry was estimated at approximately USD 108.73 billion in 2024 and is projected to grow to USD 127.51 billion by 2030.
- Europe: The automotive aftermarket spare parts market size is estimated at USD 107.83 billion in 2025 and is expected to reach USD 126.23 billion by 2030.
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Automotive Collision Repair Parts and Services
- North America: This market was approximately USD 53.1 billion in 2023 and is expected to reach USD 87.1 billion by 2032.
- Europe: The European automotive collision repair market size is projected to be USD 86.82 billion in 2025 and is forecast to reach USD 96.42 billion by 2030.
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Automotive Glass Products
- North America: The North America automotive glass market is expected to grow from USD 6.26 billion in 2025 to USD 9.32 billion by 2031.
- Europe: The Europe automotive glass market size was valued at USD 16.5 billion in 2025 and is expected to reach USD 22.9 billion by 2034.
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Vehicle Recycling and Salvage Products (including mechanical and collision parts, and scrap metal)
- Global: The global automotive recycling market size was approximately USD 201.69 billion in 2024, projected to grow to USD 238.00 billion by 2025, and exceed USD 897.14 billion by 2033.
- North America: This region held approximately 42.36% of the global vehicle recycling market in 2024.
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Specialty and Truck Accessories (including towing hitches, truck bed covers, vehicle protection products, cargo management products, wheels, tires, and suspension products)
- North America Commercial Vehicle Accessories: The North America commercial vehicle accessories market accounted for approximately USD 30.98 billion in 2023.
- U.S. Truck Bed Accessories: This segment of the market was estimated at USD 2.56 billion in 2024 and is projected to grow to USD 3.83 billion by 2030.
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LKQ Corporation (NASDAQ: LKQ) is expected to drive future revenue growth over the next two to three years through a combination of strategic initiatives focused on its core operations, market expansion, and efficiency gains.
Here are 4 expected drivers of future revenue growth:
- Specialty Segment Growth: The company's Specialty segment has demonstrated strong organic revenue growth, with a 7.8% increase in the fourth quarter of 2025 and 2.7% for the full year 2025, driven by improving end markets. This segment is a key area of focus, contributing to overall top-line expansion.
- North American Market Share Expansion: LKQ's North America business has successfully gained market share, even in a soft demand environment. This growth is attributed to disciplined pricing strategies, the expansion of relationships with large repair shop groups (MSOs), and the ongoing development of its Canadian hard parts business.
- Operational Enhancements and Selective Pricing Strategies: Management's outlook for 2026 is centered on cost discipline, operational enhancements, and selective pricing strategies. Initiatives like the global rollout of a lean operating model and a SKU rationalization program are designed to improve productivity and execution. While primarily focused on profitability, these efficiencies and pricing discipline are expected to support and generate profitable revenue growth, including an anticipated return to double-digit EBITDA margins in the European segment.
- Strategic Portfolio Optimization: LKQ's Board of Directors has initiated a comprehensive review of strategic alternatives to enhance shareholder value, following the simplification of its business portfolio, including the sale of the Self-Service segment. This strategic pivot aims to focus on higher-margin, core growth areas, allowing the company to allocate capital and management attention to its non-discretionary parts business for more focused and profitable revenue streams.
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Share Repurchases
- LKQ Corporation expanded its stock repurchase program in October 2024, increasing the aggregate authorization to $4.5 billion and extending it through October 25, 2026.
- As of December 31, 2025, approximately $1.6 billion remained authorized for potential additional repurchases.
- In 2025, the company repurchased 4.5 million shares for approximately $159 million, and in 2024, it repurchased shares worth $360 million.
Outbound Investments
- In February 2023, LKQ Europe acquired the Dutch-based Rhenoy Group, a leading supplier of remanufactured engines and recycled OEM car parts, to reinforce its commitment to sustainable mobility.
- LKQ Europe entered into a joint venture with SYNETIQ Ltd. in June 2025 to combine distribution with vehicle dismantling, reuse, and remanufacturing expertise, supporting future EU regulations and enhancing the salvage channel.
- Between 2021 and 2023, LKQ completed several acquisitions including Uni-Select, Digraph, Green Bean Battery, and Greenlight Automotive.
Capital Expenditures
- LKQ's capital expenditures were $216 million in 2025, $311 million in 2024, and $358 million in 2023.
- Capital expenditures are focused on initiatives to improve operating efficiencies, enhance margins, and leverage intellectual capital across operating segments.
- A portion of capital expenditures, referred to as "Transformation capital expenditures," are for long-lived assets like software and facilities, specifically related to the "1 LKQ Europe program" to centralize and standardize European operations.
Peer Outperformance in Distributors
null| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| LKQ | LKQ | 0.4% | 19.1x | -33.9% | -52.6% | -60.9% | — |
| GPC | Genuine Parts | 3.2% | 551.9x | 4.2% | 2.0% | 7.0% | +68pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | 0.1% | 34.3% | 72.3% | CVSA 238% · GHC 107% · LRN 103% |
| Homebuilding | 17 | 1.3% | 26.1% | 31.2% | PHM 175% · TOL 160% · CVCO 150% |
| Hotels, Resorts & Cruise Lines | 21 | 23.2% | 62.4% | 17.1% | RCL 261% · MAR 164% · HLT 154% |
| Automotive Retail | 17 | -1.9% | 11.9% | 8.5% | MUSA 207% · PAG 119% · ORLY 117% |
| Home Improvement Retail | 5 | -9.3% | 16.3% | 0.6% | HD 3% · LOW 1% · FND -66% |
| Home Furnishings | 3 | 1.8% | 71.0% | 0.0% | SGI 52% · MHK -18% |
| Footwear | 9 | 85.9% | 83.0% | -11.4% | DECK 24% · SHOO 1% · CROX -11% |
| Restaurants | 36 | 4.1% | -5.9% | -14.7% | EAT 401% · CAKE 191% · TXRH 127% |
| Specialized Consumer Services | 10 | -6.1% | 37.2% | -17.5% | HRB 159% · FTDR 124% · ADT 25% |
| Distributors ← | 4 | -7.0% | -16.6% | -24.9% | ARMK 111% · GPC 7% · POOL -57% |
| Leisure Products | 14 | -11.7% | -13.3% | -34.4% | GOLF 71% · HAS 53% · BC -11% |
| Household Appliances | 18 | 13.7% | 18.3% | -34.9% | |
| Leisure Facilities | 12 | -5.8% | 1.2% | -41.8% | OSW 167% · LTH 153% · PLNT -33% |
| Computer & Electronics Retail | 3 | 21.3% | 61.7% | -45.0% | BBY -5% · GME -56% |
| Apparel Retail | 27 | -0.7% | 2.1% | -45.7% | ANF 240% · TJX 116% · ROST 108% |
| Broadline Retail | 12 | -1.6% | 19.8% | -46.4% | EBAY 72% · AMZN 48% · OLLI 21% |
| Automotive Parts & Equipment | 37 | -14.4% | -27.4% | -46.7% | GTX 200% · PATK 71% · ALV 36% |
| Apparel, Accessories & Luxury Goods | 29 | 11.0% | 29.3% | -50.7% | RL 254% · TPR 229% · KTB 61% |
| Casinos & Gaming | 21 | -23.6% | -18.7% | -52.4% | MCRI 79% · RRR 31% · BYD 19% |
| Other Specialty Retail | 25 | -7.7% | -15.4% | -58.1% | ULTA 66% · ASO 35% · DKS 17% |
| Automobile Manufacturers | 8 | -14.9% | -45.7% | -71.0% | GM 65% · TSLA -2% · F -10% |
| Consumer Electronics | 11 | -36.6% | -36.2% | -81.0% | GRMN 110% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 102.81 |
| Mkt Cap | 10.9 |
| Rev LTM | 16,677 |
| Op Inc LTM | 881 |
| FCF LTM | 437 |
| FCF 3Y Avg | 477 |
| CFO LTM | 668 |
| CFO 3Y Avg | 679 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.2% |
| Rev Chg 3Y Avg | 1.9% |
| Rev Chg Q | 3.9% |
| QoQ Delta Rev Chg LTM | 1.0% |
| Op Inc Chg LTM | -1.4% |
| Op Inc Chg 3Y Avg | -6.2% |
| Op Mgn LTM | 6.1% |
| Op Mgn 3Y Avg | 6.5% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 5.0% |
| CFO/Rev 3Y Avg | 5.8% |
| FCF/Rev LTM | 3.1% |
| FCF/Rev 3Y Avg | 3.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 10.9 |
| P/S | 0.7 |
| P/Op Inc | 12.4 |
| P/EBIT | 12.4 |
| P/E | 20.5 |
| P/CFO | 14.6 |
| Total Yield | 6.5% |
| Dividend Yield | 2.4% |
| FCF Yield 3Y Avg | 4.9% |
| D/E | 0.4 |
| Net D/E | 0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.2% |
| 3M Rtn | -5.7% |
| 6M Rtn | 6.5% |
| 12M Rtn | -7.0% |
| 3Y Rtn | 30.4% |
| 1M Excs Rtn | 1.5% |
| 3M Excs Rtn | -2.8% |
| 6M Excs Rtn | 2.6% |
| 12M Excs Rtn | -19.9% |
| 3Y Excs Rtn | -39.4% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Parts and services | 13,306 | 13,505 | 12,942 | 11,933 | 12,141 |
| Other | 345 | 318 | 327 | 861 | 948 |
| Total | 13,651 | 13,823 | 13,269 | 12,794 | 13,089 |
| $ Mil | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|
| Other unallocated assets | 2,805 | 2,908 | 3,972 | 2,016 |
| North America | 1,630 | 1,605 | 448 | 1,426 |
| Europe | 818 | 759 | 99 | 281 |
| Specialty | 394 | 301 | ||
| Total | 5,648 | 5,573 | 4,519 | 3,723 |
Price Behavior
| Market Price | $19.26 | |
| Market Cap ($ Bil) | 4.9 | |
| First Trading Date | 10/06/2003 | |
| Distance from 52W High | -42.8% | |
| 50 Days | 200 Days | |
| DMA Price | $22.52 | $26.57 |
| DMA Trend | down | down |
| Distance from DMA | -14.5% | -27.5% |
| 3M | 1YR | |
| Volatility | 55.5% | 42.8% |
| Downside Capture | 123.67 | 96.82 |
| Upside Capture | 22.76 | 33.56 |
| Correlation (S&P 500) | 7.5% | 17.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.22 | 0.68 | 1.04 | 0.40 | 0.59 | 0.59 |
| Up Beta | -2.76 | 1.21 | 2.03 | -0.37 | 0.54 | 0.72 |
| Down Beta | -2.05 | -1.21 | -0.83 | 0.00 | 0.37 | 0.32 |
| Up Capture | -88% | 25% | 88% | 19% | 25% | 14% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 9 | 16 | 29 | 59 | 120 | 376 |
| Down Capture | 214% | 233% | 186% | 131% | 103% | 96% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 13 | 27 | 35 | 67 | 131 | 371 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LKQ | |
|---|---|---|---|---|
| LKQ | -37.2% | 42.8% | -0.96 | - |
| Sector ETF (XLY) | -1.6% | 19.1% | -0.22 | 36.6% |
| Equity (SPY) | 11.6% | 12.8% | 0.57 | 16.4% |
| Gold (GLD) | -2.4% | 28.6% | -0.10 | 12.3% |
| Commodities (DBC) | 42.0% | 20.9% | 1.56 | -19.4% |
| Real Estate (VNQ) | 10.6% | 13.7% | 0.48 | 38.6% |
| Bitcoin (BTCUSD) | -29.9% | 43.5% | -0.70 | 2.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LKQ | |
|---|---|---|---|---|
| LKQ | -16.6% | 32.9% | -0.50 | - |
| Sector ETF (XLY) | 4.3% | 24.1% | 0.14 | 46.2% |
| Equity (SPY) | 12.0% | 17.1% | 0.52 | 42.5% |
| Gold (GLD) | 16.5% | 19.0% | 0.69 | 6.4% |
| Commodities (DBC) | 8.3% | 19.6% | 0.31 | -1.6% |
| Real Estate (VNQ) | 1.0% | 18.9% | -0.06 | 45.1% |
| Bitcoin (BTCUSD) | 5.0% | 51.5% | 0.28 | 18.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LKQ | |
|---|---|---|---|---|
| LKQ | -3.9% | 35.1% | -0.02 | - |
| Sector ETF (XLY) | 12.5% | 22.2% | 0.51 | 54.0% |
| Equity (SPY) | 15.2% | 17.9% | 0.71 | 53.7% |
| Gold (GLD) | 11.5% | 16.5% | 0.57 | 2.9% |
| Commodities (DBC) | 7.8% | 18.1% | 0.34 | 14.6% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 52.3% |
| Bitcoin (BTCUSD) | 61.1% | 66.2% | 1.01 | 13.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 11/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/23/2026 | -22.5% | -19.4% | |
| 7/30/2026 | -14.4% | -8.6% | -2.8% |
| 4/30/2026 | 3.0% | -6.2% | -10.5% |
| 2/19/2026 | 0.9% | -1.6% | -13.2% |
| 10/30/2025 | 3.7% | 2.7% | -0.9% |
| 7/24/2025 | -17.8% | -22.0% | -20.0% |
| 4/24/2025 | -11.6% | -9.3% | -3.2% |
| 2/20/2025 | 6.0% | 6.0% | 4.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 11 | 10 |
| # Negative | 11 | 13 | 13 |
| Median Positive | 3.1% | 4.6% | 4.6% |
| Median Negative | -12.4% | -8.1% | -5.3% |
| Max Positive | 6.0% | 8.7% | 18.5% |
| Max Negative | -22.5% | -22.0% | -20.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/23/2026 | -22.5% | -19.4% | |
| 7/30/2026 | -14.4% | -8.6% | -2.8% |
| 4/30/2026 | 3.0% | -6.2% | -10.5% |
| 2/19/2026 | 0.9% | -1.6% | -13.2% |
| 10/30/2025 | 3.7% | 2.7% | -0.9% |
| 7/24/2025 | -17.8% | -22.0% | -20.0% |
| 4/24/2025 | -11.6% | -9.3% | -3.2% |
| 2/20/2025 | 6.0% | 6.0% | 4.7% |
| 10/24/2024 | -0.3% | -1.2% | 1.0% |
| 7/25/2024 | -12.4% | -6.7% | -5.3% |
| 4/23/2024 | -14.9% | -10.6% | -8.4% |
| 2/22/2024 | 3.1% | 4.9% | 5.8% |
| 10/26/2023 | -5.9% | -8.1% | -1.7% |
| 7/27/2023 | -4.0% | -4.5% | -10.1% |
| 4/27/2023 | 1.8% | 1.6% | -3.7% |
| 2/23/2023 | -0.7% | 1.3% | -5.0% |
| 10/27/2022 | 2.8% | -2.4% | 3.2% |
| 7/28/2022 | 0.9% | 1.9% | 4.4% |
| 4/28/2022 | 3.3% | 6.5% | 3.4% |
| 2/17/2022 | -14.3% | -17.4% | -15.5% |
| 10/28/2021 | 4.0% | 4.6% | 6.7% |
| 7/29/2021 | 3.1% | 2.0% | 3.3% |
| 4/29/2021 | 2.8% | 6.9% | 12.2% |
| 2/18/2021 | 5.0% | 8.7% | 18.5% |
| SUMMARY STATS | |||
| # Positive | 13 | 11 | 10 |
| # Negative | 11 | 13 | 13 |
| Median Positive | 3.1% | 4.6% | 4.6% |
| Median Negative | -12.4% | -8.1% | -5.3% |
| Max Positive | 6.0% | 8.7% | 18.5% |
| Max Negative | -22.5% | -22.0% | -20.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/29/2026 | 10-Q |
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/23/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/29/2026 | 10-Q |
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/23/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/03/2021 | 10-Q |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 11/03/2020 | 10-Q |
| 06/30/2020 | 08/04/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
Investor Activity (13F)
Updated Nov 4, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| 12th Street Asset Management Company, LLC | $40.7 Mil | 6.7% | 32 | ADD +6.5% | 13F |
| Ranmore Fund Management Ltd | $44.5 Mil | 5.9% | 20 | ADD +14.9% | 13F |
| Kiltearn Partners LLP | $14.1 Mil | 3.8% | 25 | Hold | 13F |
| Check Capital Management Inc/Ca | $56.3 Mil | 3.5% | 49 | ADD +23.0% | 13F |
| Medina Value Partners, LLC | $13.7 Mil | 2.9% | 30 | Hold | 13F |
| Lone Peak Global Investors LLC | $12.1 Mil | 2.0% | 42 | New | 13F |
| Maple Rock Capital Partners Inc. | $60.7 Mil | 2.0% | 44 | ADD +97.3% | 13F |
| Lyrical Asset Management LP | $89.6 Mil | 1.4% | 39 | Hold | 13F |
| EdgePoint Investment Group Inc. | $131.3 Mil | 1.1% | 37 | TRIM -20.8% | 13F |
| Weitz Investment Management, Inc. | $12.0 Mil | 0.8% | 49 | TRIM -7.5% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Lone Peak Global Investors LLC | $12.1 Mil | 2.0% | 42 | New | 13F |
| Maple Rock Capital Partners Inc. | $60.7 Mil | 2.0% | 44 | ADD +97.3% | 13F |
| Check Capital Management Inc/Ca | $56.3 Mil | 3.5% | 49 | ADD +23.0% | 13F |
| Ranmore Fund Management Ltd | $44.5 Mil | 5.9% | 20 | ADD +14.9% | 13F |
| 12th Street Asset Management Company, LLC | $40.7 Mil | 6.7% | 32 | ADD +6.5% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | As Of | Filing |
|---|---|---|---|---|---|---|
| Hudson Way Capital Management LLC | $23.1 Mil | 1.8% | 17 | Exited | Dec 31, 2025 | 13F |
| Petrus Trust Company, LTA | $15.7 Mil | 1.6% | 26 | Exited | Dec 31, 2025 | 13F |
| Kettle Hill Capital Management, LLC | $11.7 Mil | 2.6% | 39 | Exited | Dec 31, 2025 | 13F |
| EdgePoint Investment Group Inc. | $131.3 Mil | 1.1% | 37 | TRIM -20.8% | Mar 31, 2026 | 13F |
| Weitz Investment Management, Inc. | $12.0 Mil | 0.8% | 49 | TRIM -7.5% | Mar 31, 2026 | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| EdgePoint Investment Group Inc. | $131.3 Mil | 1.1% | 37 | TRIM -20.8% | 13F |
| Lyrical Asset Management LP | $89.6 Mil | 1.4% | 39 | Hold | 13F |
| Maple Rock Capital Partners Inc. | $60.7 Mil | 2.0% | 44 | ADD +97.3% | 13F |
| Check Capital Management Inc/Ca | $56.3 Mil | 3.5% | 49 | ADD +23.0% | 13F |
| Ranmore Fund Management Ltd | $44.5 Mil | 5.9% | 20 | ADD +14.9% | 13F |
| 12th Street Asset Management Company, LLC | $40.7 Mil | 6.7% | 32 | ADD +6.5% | 13F |
| Kiltearn Partners LLP | $14.1 Mil | 3.8% | 25 | Hold | 13F |
| Medina Value Partners, LLC | $13.7 Mil | 2.9% | 30 | Hold | 13F |
| Lone Peak Global Investors LLC | $12.1 Mil | 2.0% | 42 | New | 13F |
| Weitz Investment Management, Inc. | $12.0 Mil | 0.8% | 49 | TRIM -7.5% | 13F |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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