Commercial Vehicle Group (CVGI)
NASDAQ:CVGI
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Commercial Vehicle Group
(NASDAQ:CVGI)
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Rating:56Neutral
Price Target:
$4.50
▲(20.64% Upside)
Action:ReiteratedDate:04/02/26
The score is held back primarily by weakened financial performance—two years of revenue declines and net losses—and especially the 2025 negative equity position. Offsetting factors include strong 2025 free cash flow and supportive technical momentum, with 2026 guidance and recent debt-reduction actions helping but still constrained by elevated leverage and end-market volatility.
Positive Factors
Strong free cash flow and debt reduction
Sustained positive free cash flow in 2025 materially improved liquidity and funded meaningful debt paydown. This durable cash-generation ability increases financial flexibility, supports reinvestment or further deleveraging, and reduces solvency risk versus prior highly leveraged years.
Negative Factors
Negative stockholders' equity
A negative equity position weakens the balance sheet, constrains borrowing capacity, and limits strategic optionality. It elevates counterparty and covenant risks long-term and makes recovery sensitive to sustained profitability and continued cash generation to rebuild equity.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow and debt reduction
Sustained positive free cash flow in 2025 materially improved liquidity and funded meaningful debt paydown. This durable cash-generation ability increases financial flexibility, supports reinvestment or further deleveraging, and reduces solvency risk versus prior highly leveraged years.
Read all positive factors
Commercial Vehicle Group (CVGI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$136.65M
Dividend YieldN/A
Average Volume (3M)108.15K
Price to Earnings (P/E)―
Beta (1Y)0.85
Revenue Growth-23.26%
EPS Growth-259.03%
CountryUS
Employees6,400
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.18
Shares Outstanding36,636,720
10 Day Avg. Volume116,403
30 Day Avg. Volume108,147
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 Cap1.88
Enterprise Value/Revenue0.40
Enterprise Value/Gross Profit3.51
Enterprise Value/Ebitda9.28
Forecast
1Y Price Target
$4.00Price Target Upside7.24% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.21
Revenue Forecast (FY)$670.60M
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...
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., seat...
Commercial Vehicle Group Earnings Call Summary
Earnings Call Date:Mar 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Neutral
The call conveyed a balanced picture: meaningful operational and cash-flow improvements (margin expansion, strong free cash flow, >$35M debt reduction, and accelerated growth in the Global Electrical Systems segment including the Zoox win) offset by significant top-line pressure (full-year revenue down ~10%), pronounced weakness in Trim Systems & Components (revenues down >22%) and ongoing demand volatility in North American Class 8 markets. Management provided constructive 2026 guidance that assumes a gradual market recovery, but the guidance range is wide and subject to macro and OEM scheduling risks.Positive Updates
Improved Profitability and Margins
Adjusted gross margin of 10.3% in Q4 2025, up 190 basis points year-over-year; consolidated adjusted EBITDA improved to $2.3M in Q4 (1.5% margin, up 90 bps YoY). Operational efficiency and SG&A reduction drove margin expansion despite softer demand.
Negative Updates
Top-Line Declines — Consolidated Revenue Pressure
Consolidated Q4 revenue $154.8M vs $163.3M prior year (≈-5.2%); full-year revenue $649M vs $723.4M prior year (≈-10.3%). Revenue declines driven by softening customer demand in Global Seating and Trim & Components, particularly in North America.
Read all updates
Q4-2025 Updates
Positive
Negative
Improved Profitability and Margins
Adjusted gross margin of 10.3% in Q4 2025, up 190 basis points year-over-year; consolidated adjusted EBITDA improved to $2.3M in Q4 (1.5% margin, up 90 bps YoY). Operational efficiency and SG&A reduction drove margin expansion despite softer demand.
Read all positive updates
Company Guidance
CVG guided 2026 net sales of $660–$700 million (roughly +5% at the midpoint vs. 2025) and adjusted EBITDA of $24–$30 million (about +50% at the midpoint vs. 2025), and said it expects to generate positive free cash flow in 2026 and to use that cash to pay down debt toward a targeted net leverage of ~2x (year‑end 2025 net leverage was 4.1x, down from 4.7x; net debt was reduced ≈$35.8 million in 2025). Management expects Global Electrical Systems to grow >10% in 2026 and be accretive to segment margins as new programs ramp (including Zoox, which plans to target 10,000 vehicles/year long‑term, ~5,000 annualized in the first two years with CVG volumes increasing in H2 2026), and reiterated continued working‑capital gains (inventory down ~$10 million in 2025), lower capex (down ~$7 million in 2025), and operational leverage following 2025 results (full‑year free cash flow ≈$33‑34 million; 2025 adjusted EBITDA $17.8 million, adjusted EBITDA margin 2.7%; Q4 adjusted gross margin 10.3%, up 190 bps).Commercial Vehicle Group Financial Statement Overview
Summary
Income Statement
33
Negative
Balance Sheet
18
Very Negative
Cash Flow
61
Positive
| 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 | 33.99M | -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
Positive
3.73
Price Trends
2.36
Positive
1.99
Positive
1.86
Positive
Market Momentum
0.45
Positive
61.24
Neutral
72.75
Neutral
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 3.73 is above the 20-day moving average (MA) of 3.44, above the 50-day MA of 2.36, and above the 200-day MA of 1.86, indicating a bullish trend. The MACD of 0.45 indicates Positive momentum. The RSI at 61.24 is Neutral, neither overbought nor oversold. The STOCH value of 72.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $336.05M | 15.92 | 12.07% | ― | 6.83% | 46.38% | |
73 Outperform | $128.23M | 3.67 | 9.22% | ― | 16.72% | 5.35% | |
72 Outperform | $534.24M | 31.29 | 7.39% | 2.11% | -36.91% | -56.72% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $136.65M | -2.14 | -16.59% | ― | -23.26% | -259.03% | |
46 Neutral | $142.89M | -1.57 | -43.54% | ― | -4.91% | -331.53% | |
40 Underperform | $2.97M | -0.08 | -121.52% | ― | -100.00% | 11.41% |
* Consumer Cyclical Sector Average
CVGI
Commercial Vehicle Group
3.73
2.81
304.12%
CAAS
China Automotive Systems
4.25
0.68
19.05%
MLR
Miller Industries
46.98
7.31
18.41%
SRI
Stoneridge
5.10
1.31
34.56%
STRT
Strattec Security
80.40
44.30
122.71%
SBLX
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2.04
-5.24
-71.98%
Commercial Vehicle Group Corporate Events
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...
Business Operations and StrategyFinancial Disclosures
Commercial Vehicle Group Narrows Losses, Boosts Cash Flow
Positive
Mar 11, 2026
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 SGA and bet...
Business Operations and StrategyExecutive/Board Changes
Commercial Vehicle Group adds Lakeview representative to board
Positive
Feb 6, 2026
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’...
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.