Aptiv

As of June 30, 2025, Aptiv reported cash and cash equivalents of about 1.45 billion dollars, total available liquidity near 4.0 billion dollars, net debt about 6.3 billion dollars, and long-term debt of about 7.76 billion dollars.

Trailing-twelve-month operating cash flow was about 2.34 billion dollars, with capex trending lower in 1H25. Net leverage sits around 2x adjusted EBITDA and the company repaid its Term Loan A in 1Q25. We see solid liquidity and manageable leverage for a supplier, though sensitivity to rates and cycle remains.