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Auto parts · Consumer Cyclical · Fiscal year ends Dec 31
Lci Industries reported revenue of $4.1B in the fiscal year ended Dec 2025, up 10.2% from the year before. Operating income was $280M, an operating margin of 6.8%, and net income was $188M. Operating cash flow of $331M less capital expenditure of $53M left free cash flow of $278M. Net debt was $723M.
Ranks among the 18 auto parts companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 4,473 | 5,207 | 3,785 | 3,741 | 4,122 |
| Cost of revenue | 3,430 | 3,934 | 3,009 | 2,861 | 3,142 |
| Gross profit | 1,043 | 1,273 | 776 | 880 | 980 |
| Selling, general & admin | 645 | 720 | 453 | 465 | 495 |
| Operating income | 398 | 553 | 123 | 218 | 280 |
| Net interest incomeBanks | −16.4 | −27.6 | – | – | – |
| Interest expense | 16.4 | 27.6 | 40.4 | 28.9 | 35.7 |
| Pre-tax income | 382 | 525 | 83.0 | 189 | 255 |
| Income tax | 94.3 | 130 | 18.8 | 46.5 | 66.8 |
| Net income | 288 | 395 | 64.2 | 143 | 188 |
| Diluted EPS | 11.32 | 15.48 | 2.52 | 5.60 | 7.57 |
| Diluted shares | 25.4 | 25.5 | 25.4 | 25.5 | 24.9 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 62.9 | 47.5 | 66.2 | 166 | 223 |
| Receivables | 320 | 214 | 215 | 200 | 243 |
| Inventory | 1,096 | 1,030 | 768 | 737 | 809 |
| Current assets | 1,567 | 1,391 | 1,117 | 1,160 | 1,350 |
| Net PP&E | 426 | 482 | 466 | 433 | 428 |
| Goodwill | 543 | 567 | 590 | 586 | 622 |
| Total assets | 3,288 | 3,247 | 2,959 | 2,895 | 3,176 |
| Payables | 282 | 144 | 184 | 188 | 202 |
| Current liabilities | 627 | 421 | 395 | 412 | 473 |
| Short-term debt | 71.0 | 23.1 | 0.6 | 0.4 | 3.7 |
| Long-term debt | 1,232 | 1,096 | 847 | 757 | 942 |
| Total liabilities | 2,195 | 1,866 | 1,604 | 1,508 | 1,815 |
| Shareholders' equity | 1,093 | 1,381 | 1,355 | 1,387 | 1,361 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −112 | 603 | 527 | 370 | 331 |
| Capital expenditure | 98.5 | 131 | 62.2 | 42.3 | 52.6 |
| Free cash flow | −210 | 472 | 465 | 328 | 278 |
| Depreciation & amortisation | 112 | 129 | 132 | 126 | 121 |
| Stock-based compensation | 27.2 | 23.7 | 18.2 | 18.7 | 22.7 |
| Acquisitions | 194 | 108 | 25.9 | 20.0 | 113 |
| Share buybacks | 0.0 | 24.1 | 0.0 | 0.0 | 129 |
| Dividends paid | 87.2 | 103 | 106 | 109 | 114 |
| Dividend per share | 3.45 | 4.05 | 4.20 | 4.30 | 4.60 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 16.4% | −27.3% | −1.2% | 10.2% |
| Operating income growth (YoY) | – | 38.8% | −77.7% | 76.8% | 28.3% |
| EPS growth (YoY) | – | 36.7% | −83.7% | 122.2% | 35.2% |
| Gross margin | 23.3% | 24.5% | 20.5% | 23.5% | 23.8% |
| Operating margin | 8.9% | 10.6% | 3.3% | 5.8% | 6.8% |
| Net margin | 6.4% | 7.6% | 1.7% | 3.8% | 4.6% |
| Return on equityBlank when equity is negative | 26.3% | 28.6% | 4.7% | 10.3% | 13.8% |
| ROCEEBIT ÷ (assets − current liabilities) | 15.0% | 19.6% | 4.8% | 8.8% | 10.4% |
| Free cash flow margin | −4.7% | 9.1% | 12.3% | 8.8% | 6.8% |
| Cash conversion (CFO ÷ net income) | −0.39x | 1.53x | 8.21x | 2.59x | 1.76x |
| Receivable days | 26 | 15 | 21 | 19 | 22 |
| Inventory days | 117 | 96 | 93 | 94 | 94 |
| Payable days | 30 | 13 | 22 | 24 | 23 |
| Interest cover | 24.3x | 20.1x | 3.05x | 7.55x | 7.84x |
| Debt ÷ equity | 1.19x | 0.81x | 0.63x | 0.55x | 0.69x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 1,240 | 1,071 | 781 | 591 | 723 |
| Current ratio | 2.50x | 3.30x | 2.83x | 2.82x | 2.85x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.