Want to see CVGI full AI Analyst Report?
Top Page
Commercial Vehicle Group
(NASDAQ:CVGI)
Select Model
Select Model
Rating:54Neutral
Price Target:
$5.50
▲(36.48% Upside)
Action:Reiterated
Date:06/18/26
The score is held back primarily by weak profitability (TTM net loss) and inconsistent cash-flow conversion despite a revenue rebound and improved leverage. Technicals are a clear positive with an established uptrend, while earnings-call guidance and margin progress support a cautious improvement outlook. Valuation is constrained by the negative P/E, and the new ATM program adds modest dilution overhang despite improved capital flexibility.
Positive Factors
Improved leverage and lower debt
Material debt reduction and a lower debt-to-equity ratio provide durable financial flexibility. With total debt down and equity stable, the company can better absorb cyclicality, pursue targeted investments or M&A, and has more runway to execute its deleveraging plan without immediate refinancing stress.
Negative Factors
TTM net loss and thin operating margins
Sustained net losses and wafer-thin operating margins weaken returns on invested capital and limit the company's ability to self-fund growth. Until margins recover materially, earnings volatility will hamper sustainable profitability and prolong reliance on cash reserves or financing to support strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage and lower debt
Material debt reduction and a lower debt-to-equity ratio provide durable financial flexibility. With total debt down and equity stable, the company can better absorb cyclicality, pursue targeted investments or M&A, and has more runway to execute its deleveraging plan without immediate refinancing stress.
Read all positive factors
Commercial Vehicle Group (CVGI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$160.70M
Dividend YieldN/A
Average Volume (3M)485.44K
Price to Earnings (P/E)―
Beta (1Y)1.14
Revenue Growth-11.44%
EPS Growth50.49%
CountryUS
Employees6,767
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.52
Shares Outstanding36,521,694
10 Day Avg. Volume405,654
30 Day Avg. Volume485,437
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.37
Price to Sales (P/S)0.08
P/FCF Ratio1.43
Enterprise Value/Market Cap1.66
Enterprise Value/Revenue0.41
Enterprise Value/Gross Profit3.73
Enterprise Value/Ebitda13.86
Forecast
1Y Price Target
$7.25Price Target Upside79.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.19
Revenue Forecast (FY)$681.07M
Commercial Vehicle Group Business Overview & Revenue Model
Company Description
Commercial Vehicle Group, Inc., together with its subsidiaries, provides systems, assemblies, and components to the vehicle market and electric vehicle markets in North America, Europe, and the Asia-Pacific. The company operates in three segments:...
How the Company Makes Money
CVGI makes money primarily by manufacturing and selling engineered components and assembled systems to original equipment manufacturers (OEMs) and other customers, with revenue largely recognized from product sales under customer supply agreements...
Commercial Vehicle Group Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call conveyed improving operational momentum: solid segment-level growth (notably Global Electrical Systems +13.9%), meaningful gross-margin expansion (+140 bps YoY; +250 bps sequential), positive free cash flow and a tangible deleveraging step (net leverage improved to 3.8x). Management reaffirmed 2026 guidance and highlighted the strategic ramp of Zoox and other new business as growth drivers. Counterbalancing these positives are weakened adjusted EBITDA and adjusted net loss, a sharp decline in the Trim segment (-13.9%) tied to a 27% YoY Class 8 industry decline, higher interest expense following refinancing, and persistent macro volatility. Overall, highlights around margin improvement, cash generation and electrical segment growth outweigh the near-term profitability and demand headwinds, positioning the sentiment as constructive but cautious.Positive Updates
Modest Consolidated Revenue Growth
Consolidated Q1 2026 revenue of $171.5M versus $169.8M prior year, an increase of approximately 1.0% driven by higher sales in Global Electrical Systems and Global Seating.
Negative Updates
Adjusted EBITDA and Adjusted Net Loss Performance
Adjusted EBITDA declined to $4.8M in Q1 2026 from $5.8M prior year (down ~$1.0M, ≈-17%). Adjusted net loss widened to $3.4M (loss of $0.10 per diluted share) versus adjusted net loss of $2.6M prior year (loss of $0.08). Adjusted EBITDA margin was 2.8%, down 60 basis points from 3.4% in Q1 2025.
Read all updates
Q1-2026 Updates
Positive
Negative
Modest Consolidated Revenue Growth
Consolidated Q1 2026 revenue of $171.5M versus $169.8M prior year, an increase of approximately 1.0% driven by higher sales in Global Electrical Systems and Global Seating.
Read all positive updates
Company Guidance
Management reaffirmed 2026 guidance calling for net sales of $660–$700 million (about +5% vs. 2025 at the midpoint) and adjusted EBITDA of $24–$30 million (≈+50% vs. 2025 at the midpoint), and expects positive free cash flow for the year with priority on debt paydown to reach a 2.0x net leverage target (current net leverage 3.8x, down from 4.1x). They expect Global Electrical Systems sales to rise more than 10% in 2026 as Zoox and other ramps drive utilization, and cited industry data projecting Class 8 production up ~9% in 2026 (Q1 production 54,000). Supporting metrics from Q1 include revenue of $171.5M, adjusted gross margin of 12.2% (+140 bps YoY, +250 bps sequential), adjusted EBITDA $4.8M (margin 2.8%), and free cash flow of $11.7M; management also noted a $16M gross ($14.6M net) sale‑leaseback that prepaid $12.8M of debt and established a 20‑year lease with ~$1.4M initial annual rent.Commercial Vehicle Group Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
55
Neutral
Cash Flow
49
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 650.70M | 649.00M | 723.36M | 835.47M | 782.58M | 971.58M |
| Gross Profit | 71.55M | 68.39M | 82.32M | 121.89M | 85.03M | 118.99M |
| EBITDA | 19.23M | 12.03M | 26.40M | 58.30M | 42.58M | 68.53M |
| Net Income | -17.57M | -22.78M | -27.87M | 49.41M | -21.97M | 23.73M |
Balance Sheet | ||||||
| Total Assets | 412.55M | 391.71M | 424.57M | 483.21M | 470.27M | 507.69M |
| Cash, Cash Equivalents and Short-Term Investments | 28.68M | 33.28M | 26.63M | 37.85M | 31.82M | 34.96M |
| Total Debt | 102.07M | 144.54M | 166.33M | 173.43M | 179.28M | 222.99M |
| Total Liabilities | 281.56M | 258.36M | 288.98M | 310.28M | 350.23M | 381.04M |
| Stockholders Equity | 130.99M | 133.36M | 135.59M | 172.93M | 120.04M | 126.65M |
Cash Flow | ||||||
| Free Cash Flow | 18.41M | 33.99M | -51.97M | 18.58M | 49.24M | -47.48M |
| Operating Cash Flow | 27.91M | 44.64M | -33.45M | 38.28M | 68.95M | -29.83M |
| Investing Cash Flow | 6.44M | -10.61M | 30.90M | -19.70M | -19.71M | -17.57M |
| Financing Cash Flow | -26.84M | -29.23M | -7.12M | -12.73M | -50.09M | 31.01M |
Commercial Vehicle Group Technical Analysis
Neutral
4.03
Price Trends
4.89
Negative
3.85
Positive
2.73
Positive
Market Momentum
-0.10
Positive
41.15
Neutral
32.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CVGI, the sentiment is Neutral. The current price of 4.03 is below the 20-day moving average (MA) of 4.91, below the 50-day MA of 4.89, and above the 200-day MA of 2.73, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 41.15 is Neutral, neither overbought nor oversold. The STOCH value of 32.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CVGI.
Commercial Vehicle Group Risk Analysis
Commercial Vehicle Group disclosed 38 risk factors in its most recent earnings report. Commercial Vehicle Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Commercial Vehicle Group Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $325.28M | 12.66 | 10.75% | ― | 4.22% | 23.13% | |
69 Neutral | $558.50M | 36.04 | 3.70% | 2.11% | -34.22% | -71.55% | |
63 Neutral | $134.86M | 3.15 | 11.39% | ― | 17.64% | 42.96% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | $195.67M | -1.70 | -53.45% | ― | -9.34% | -539.67% | |
54 Neutral | $160.70M | -8.40 | -12.93% | ― | -11.44% | 50.49% |
* Consumer Cyclical Sector Average
CVGI
Commercial Vehicle Group
4.40
2.42
122.22%
CAAS
China Automotive Systems
4.47
0.29
6.94%
MLR
Miller Industries
49.01
3.42
7.50%
SRI
Stoneridge
6.93
-1.04
-13.05%
STRT
Strattec Security
77.84
7.86
11.23%
Commercial Vehicle Group Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Commercial Vehicle Group Establishes $25 Million ATM Program
Positive
Jun 18, 2026
On June 18, 2026, Commercial Vehicle Group, Inc. entered into a Capital on Demand Sales Agreement with JonesTrading Institutional Services LLC that allows the company to issue and sell up to $25 million of its common stock from time to time throug...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Commercial Vehicle Group Shareholders Back Governance and Incentive Plan
Positive
May 18, 2026
At its virtual Annual Meeting of Stockholders held on May 14, 2026, Commercial Vehicle Group, Inc. shareholders elected seven directors to serve until the 2027 annual meeting and ratified the appointment of KPMG LLP as the company’s independ...
Business Operations and StrategyFinancial Disclosures
Commercial Vehicle Group Posts Q1 2026 Profit, Deleverages
Positive
May 5, 2026
CVG reported first-quarter 2026 results on May 5, 2026, posting revenues of $171.5 million, up 1% year-on-year, driven by 14% growth in Global Electrical Systems and a modest rebound in Global Seating. Despite a small adjusted operating income of ...
Executive/Board ChangesRegulatory Filings and Compliance
Commercial Vehicle Group Adjusts CEO Equity Awards for Compliance
Neutral
Apr 28, 2026
Commercial Vehicle Group, Inc. disclosed that on June 10, 2025 its compensation committee granted 805,031 restricted shares to President and CEO James Ray under its 2020 Equity Incentive Plan, but later determined the award exceeded the plan’...
Business Operations and StrategyPrivate Placements and Financing
Commercial Vehicle Group Completes Facility Sale-Leaseback, Reduces Debt
Positive
Apr 2, 2026
On March 27, 2026, Commercial Vehicle Group’s subsidiary completed a $16 million sale and leaseback of its Vonore, Tennessee manufacturing facility with Big Acquisitions LLC, an affiliate of 200 National LLC, and simultaneously entered into ...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Commercial Vehicle Group Names Interim CFO, Reaffirms 2026 Outlook
Neutral
Apr 1, 2026
On March 26, 2026, Commercial Vehicle Group announced that Chief Financial Officer Andy Cheung had resigned, effective April 15, 2026, to take a CFO role at another mid‑cap public company, with his unvested equity and benefits expected to be...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.