Commercial Vehicle Group (CVGI) AI Stock Analysis

• Market Cap: $130.79M
• Dividend Yield: N/A
• Average Volume (3M): 108.15K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.99
• Revenue Growth: -23.26%
• EPS Growth: -259.03%
• Country: US
• Employees: 6,400
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Parts
• EPS (TTM): -0.18
• Shares Outstanding: 36,636,720
• 10 Day Avg. Volume: 116,403
• 30 Day Avg. Volume: 108,147
• PEG Ratio: 0.11
• Price to Book (P/B): 0.37
• Price to Sales (P/S): 0.08
• P/FCF Ratio: 1.45
• Enterprise Value/Market Cap: 1.84
• Enterprise Value/Revenue: 0.37
• Enterprise Value/Gross Profit: 3.28
• Enterprise Value/Ebitda: 8.67
• 1Y Price Target: $4.00
• Price Target Upside: 12.04% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -0.21
• Revenue Forecast (FY): $670.60M

• Rating: 50 Neutral
• Price Target: $3.50 ▼(-1.96% Downside)
• Action: Reiterated Date: 03/17/26
• Date: Action: Reiterated 03/17/26

The score is held down primarily by weak profitability and a high-risk balance sheet (negative equity), partially offset by a meaningful rebound in free cash flow. Technically, momentum is strong but appears overextended, while valuation is difficult to assess due to losses and no dividend yield data. The latest earnings call was mixed, with downward revisions to revenue/EBITDA guidance offset by a focus on cost savings and free-cash-flow-driven debt reduction.

Positive Factors

Stronger cash generation in 2025

A sustained recovery in operating and free cash flow supports durable liquidity and funds debt reduction, capex and working-capital needs. Consistent cash generation, even if volatile, materially increases financial flexibility and reduces refinancing risk over the next 2–6 months.

Growth in Global Electrical Systems

Segment-level growth tied to new autonomous and OEM programs diversifies revenue and shifts mix toward higher-content electrical systems. These program ramps create multi-year revenue visibility and improve exposure to structural trends in autonomy and electrification.

Management-driven margin and cost initiatives

A formal FCF target and quantified cost-savings program indicate disciplined capital allocation and operational focus. Realizing these actions can sustainably lift adjusted margins and accelerate deleveraging, improving resilience through industry cycles.

Negative Factors

Negative shareholders' equity

Negative equity materially constrains financial flexibility, increases creditor risk and can limit access to capital or favorable financing. This structural balance-sheet weakness raises the probability of constrained investment and limits ability to absorb further shocks.

Multi-year revenue declines and net losses

Sustained revenue erosion and recent net losses indicate weakened pricing power or demand exposure. Persistent top-line pressure undermines margin recovery and makes earnings volatility and cash generation less predictable over the medium term.

Exposure to Class 8 production cycles

Heavy exposure to Class 8 OEM production cycles creates structural demand volatility. Prolonged industry downturns can depress volumes and pricing, pressuring utilization, margins and program economics for several quarters to years.

Commercial Vehicle Group Business Overview & Revenue Model

Company Description

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.

How the Company Makes Money

CVGI makes money primarily by selling manufactured components and integrated systems to OEM customers that build commercial vehicles and industrial equipment. Its main revenue streams come from (1) seating and interior-related products (e.g., seats, trim, and interior components) supplied for installation in new vehicles/equipment, and (2) electrical and electronics-related content (e.g., wiring harnesses and related assemblies) that support vehicle/equipment electrical architecture. Revenue is generally earned through contractual supply arrangements tied to customer production volumes, where CVGI invoices per part/unit shipped or per assembled system delivered. In addition to OEM production programs, the company also generates revenue from aftermarket and service parts sales where applicable, which typically depend on installed base demand and replacement cycles. Key factors influencing earnings include OEM build rates and platform wins, customer concentration typical of automotive/commercial-vehicle supply chains, pricing and cost recovery mechanisms in supply agreements, manufacturing efficiency, and raw material and labor costs. Specific significant partnerships: null.

Commercial Vehicle Group Financial Statement Overview

Summary

Financial profile is pressured: revenue declined materially and the company posted net losses in 2024–2025. The key risk is balance-sheet quality with negative equity in 2025, which reduces financial flexibility. Offsetting this, 2025 cash generation rebounded strongly with positive operating cash flow and free cash flow, though volatility remains.

Income Statement

The earnings profile has weakened materially. Revenue declined across 2024 and 2025 (2025 down ~10% vs. 2024 and well below 2023 levels), while profitability flipped from solidly positive in 2023 to net losses in both 2024 and 2025. Gross margin also compressed versus 2023, and the company is currently operating near break-even at the operating line with a negative bottom line—signaling limited pricing power and/or cost pressure. The main positive is that the business has shown it can be profitable (2021 and 2023), but the recent two-year downturn drives a below-average score.

Balance Sheet

The balance sheet deteriorated sharply in the most recent period. Stockholders’ equity is negative in 2025, which is a major credit and financial flexibility red flag and makes leverage metrics less meaningful. While reported total debt is very low in 2025 versus prior years, the negative equity position and the swing from a historically leveraged structure (debt-to-equity above 1x in 2020–2024) indicate elevated balance-sheet risk. Prior years showed moderate-to-high leverage with mixed returns, and the latest equity deficit outweighs the benefit of lower debt.

Cash Flow

Cash generation is the relative bright spot. In 2025, operating cash flow and free cash flow are strongly positive, a notable improvement from 2024 when both were negative. That said, cash flow has been volatile year-to-year (negative in 2021 and 2024), and the steep negative free-cash-flow growth figure in 2025 highlights instability in the trajectory. Overall, the business demonstrates an ability to generate meaningful cash in better periods, but consistency remains a concern.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	649.00M	723.36M	835.47M	782.58M	971.58M
Gross Profit	73.25M	82.32M	121.89M	85.03M	118.99M
EBITDA	19.55M	26.40M	58.30M	42.58M	68.53M
Net Income	-22.78M	-27.87M	49.41M	-21.97M	23.73M
Balance Sheet
Total Assets	391.71M	424.57M	483.21M	470.27M	507.69M
Cash, Cash Equivalents and Short-Term Investments	33.28M	26.63M	37.85M	31.82M	34.96M
Total Debt	144.54M	166.33M	173.43M	179.28M	222.99M
Total Liabilities	258.36M	288.98M	310.28M	350.23M	381.04M
Stockholders Equity	133.36M	135.59M	172.93M	120.04M	126.65M
Cash Flow
Free Cash Flow	33.69M	-51.97M	18.58M	49.24M	-47.48M
Operating Cash Flow	44.64M	-33.45M	38.28M	68.95M	-29.83M
Investing Cash Flow	-10.65M	30.90M	-19.70M	-19.71M	-17.57M
Financing Cash Flow	-29.23M	-7.12M	-12.73M	-50.09M	31.01M

Commercial Vehicle Group Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.57
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CVGI, the sentiment is Positive. The current price of 3.57 is above the 20-day moving average (MA) of 2.15, above the 50-day MA of 1.85, and above the 200-day MA of 1.71, indicating a bullish trend. The MACD of 0.45 indicates Negative momentum. The RSI at 78.40 is Negative, neither overbought nor oversold. The STOCH value of 90.43 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CVGI.

Commercial Vehicle Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STRT	79 Outperform	$303.66M	15.92	12.07%	―	6.83%	46.38%
CAAS	73 Outperform	$125.81M	3.67	9.22%	―	16.72%	5.35%
MLR	72 Outperform	$496.60M	18.59	7.39%	2.11%	-36.91%	-56.72%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
CVGI	50 Neutral	$130.79M	-2.14	-16.59%	―	-23.26%	-259.03%
SRI	46 Neutral	$153.81M	-1.57	-43.54%	―	-4.91%	-331.53%
SBLX	41 Neutral	$3.84M	-0.43	-121.52%	―	-100.00%	11.41%

Commercial Vehicle Group Corporate Events

Commercial Vehicle Group Narrows Losses, Boosts Cash Flow

CVG reported fourth-quarter 2025 revenue of $154.8 million, down 5.2% year over year, with an operating loss of $1.8 million but improved gross margins and sharply narrower losses compared with the prior-year period, supported by lower SG&A and better working capital that lifted free cash flow to $8.8 million. For full year 2025, revenue fell 10.3% to $649 million on softer North American Class 8 demand, yet free cash flow rose to $34 million and debt declined by $29.1 million as management emphasized cost cuts, footprint rationalization and new business ramps, including its designation as Zoox’s low-voltage wire harness strategic supplier, which bolstered growth and margin expansion in the Global Electrical Systems segment ahead of an expected 2026 recovery.

Segment performance was mixed, with Global Electrical Systems returning to growth and expanding margins, Global Seating achieving margin gains despite weaker volumes, and Trim Systems & Components pressured by ongoing North American Class 8 truck market softness. Executives said the company delivered results in line with adjusted guidance and highlighted that improved operational efficiency, a stronger balance sheet and growing exposure to autonomous and electrified platforms are expected to provide operating leverage and support revenue and EBITDA growth in 2026, while prioritizing free cash flow for further debt reduction.

The most recent analyst rating on (CVGI) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Commercial Vehicle Group stock, see the CVGI Stock Forecast page.

Commercial Vehicle Group adds Lakeview representative to board

On February 5, 2026, Commercial Vehicle Group entered into a support agreement with Lakeview Opportunity Fund and related entities under which Lakeview’s founder, president and chief investment officer Ari B. Levy was appointed to CVG’s board of directors, expanding the board to seven members, with Levy joining the Audit and Nominating, Governance and Sustainability committees and standing for election at the company’s 2026 annual meeting. The agreement includes customary standstill and voting commitments from Lakeview, which owns about 8.9% of CVG’s outstanding shares, limiting its ability to pursue proxy contests, board nominations, major corporate transactions, or increase its stake beyond 14.99%, a move that stabilizes CVG’s governance structure while formally aligning a significant shareholder with board oversight and potentially strengthening the company’s strategic and capital markets positioning; the company announced the arrangement and Levy’s appointment in a press release on February 6, 2026.

The most recent analyst rating on (CVGI) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Commercial Vehicle Group stock, see the CVGI Stock Forecast page.