{"schemaVersion":1,"research":true,"symbol":"aptv","name":"Aptiv PLC","topic":"moat","path":"/stock/aptv/moat","status":"published","version":3,"updatedAt":"2026-10-18T01:12:16.229Z","locked":false,"publicFairValue":false,"fairValue":null,"moat":{"verdict":"none","summary":"The supplied disclosures establish useful engineering capabilities and some vehicle-program switching friction, but do not establish a durable economic moat for post-separation Aptiv. OEM bargaining power produces contractual price reductions typically equal to 1%–3% of sales. Volume outperformance and profitable operations demonstrate competitive viability, but not insulation from competition. Pricing power is weak, and software-demand delays have already contributed to a substantial goodwill impairment.","advantages":[{"mechanism":"switching_costs","claim":"Customer-specific tooling and vehicle-program supply relationships create some incumbent friction. However, the passages do not demonstrate costly customer switching or durable renewal protection, and production-part commitments are short.","durability":"Potentially useful during an existing vehicle program; protection beyond that program is unproven. Historical tooling disclosures predate the Electrical Distribution Systems separation and cannot be attributed entirely to continuing Aptiv.","risks":"OEM bargaining leverage, contractual price reductions, short production-part commitments and replacement at subsequent program awards limit the economic benefit.","invalidation":"The switching-friction thesis would fail if customers routinely transferred tooling or replaced Aptiv during programs without material disruption, or if program renewals required concessions that exhausted incumbent economic benefits.","competitors":[],"evidenceIds":["e1","e2","e3"],"counterEvidenceIds":["e4","e5","e6"]},{"mechanism":"intangible_assets","claim":"Aptiv owns patents and engineering capabilities and has won substantial new business. These support a functioning competitive position, but the disclosed evidence does not establish exclusive technology, sustained pricing premiums or a durable barrier to rivals.","durability":"Requires continued development and successful commercialization. The Wind River impairment demonstrates that owning technology does not ensure recovery of invested capital.","risks":"Rapid technological change, delayed software-defined vehicle adoption, aggressive competition and customer price pressure can erode returns.","invalidation":"The differentiation thesis would fail if volume persistently underperformed Aptiv's weighted production market, new awards failed to convert into profitable production, or further technology impairments accompanied continuing price concessions.","competitors":[],"evidenceIds":["e7","e8","e9","e10"],"counterEvidenceIds":["e5","e11","e12","e13"]}],"evidence":[{"id":"e1","sourceId":"filing-1","location":"Accounting policies / customer-component tooling and supply arrangements","excerpt":"Special tools represent Aptiv-owned tools, dies, jigs and other items used in the manufacture of customer components that will be sold under long-term supply arrangements, the costs of which are capitalized within property, plant and equipment if the Company has title to the assets."},{"id":"e2","sourceId":"filing-1","location":"Accounting policies / non-cancellable rights to use customer-owned tooling","excerpt":"Special tools also include capitalized unreimbursed pre-production tooling costs related to customer-owned tools for which the customer has provided Aptiv a non-cancellable right to use the tool."},{"id":"e3","sourceId":"filing-1","location":"Accounting policies / tooling and vehicle-program lives","excerpt":"Aptiv-owned special tool balances are depreciated over the expected life of the special tool or the life of the related vehicle program, whichever is shorter."},{"id":"e4","sourceId":"filing-1","location":"Revenue / production-part contract duration","excerpt":"There are no contracts for production parts outstanding beyond one year."},{"id":"e5","sourceId":"filing-2","location":"MD&A / contractual price step-downs and OEM bargaining leverage","excerpt":"Our customer supply agreements generally require step-downs in component pricing over the periods of production and OEMs have historically possessed significant leverage over their outside suppliers because the automotive component supply industry is fragmented and serves a limited number of automotive OEMs."},{"id":"e6","sourceId":"filing-2","location":"MD&A / typical contractual price reductions","excerpt":"61 Table of Contents We typically experience (as described below) fluctuations in operating (loss) income due to: •Volume, net of contractual price reductions—changes in volume offset by contractual price reductions (which typically range from 1% to 3% of net sales) and changes in mix; •Operational performance—changes to costs for materials and commodities or manufacturing and engineering variances; and •Other—including restructuring costs and any remaining variances not included in Volume, net of contractual price reductions or Operational performance."},{"id":"e7","sourceId":"filing-1","location":"Risk factors / intellectual-property ownership","excerpt":"We own significant intellectual property, including a large number of patents and trade names, and are involved in numerous licensing arrangements."},{"id":"e8","sourceId":"filing-1","location":"Risk factors / management assessment of intellectual property's competitive role","excerpt":"Our intellectual property plays an important role in maintaining our competitive position in a number of the markets we serve."},{"id":"e9","sourceId":"filing-3","location":"Compensation discussion / 2025 awards, operating cash flow, capital actions and manufacturing footprint","excerpt":"Our recent financial and business achievements include the following: • Generated new business awards of approximately $27 billion, based on expected volumes and prices over program lifetime, validating our industry-leading portfolio of advanced technologies tied to the secular growth drivers across industries; • Drove more than 75% of new business awards in China with local OEM customers; • Delivered record revenue, with strong revenue growth over the prior year despite the dynamic vehicle production environment, helped by strong growth in other industrial end markets; • Generated cash flow from operations of $2.2 billion and delivered $1.2 billion of operating income (record adjusted operating income of $2.5 billion), demonstrating strong operating execution in the face of continuing material and labor cost inflation; • Delivered operating income margin of 5.8% (adjusted operating income margin of 12.1%), driven by strong operating performance and cost reduction initiatives; • Repurchased 22.8 million shares with a value of $1.5 billion, including incremental share deliveries under the terms of the Company’s accelerated share repurchase program; • Further enhanced our capital structure and increased our financial flexibility; • Deployed capital to repurchase $300 million aggregate principal amount of certain senior notes and repaid the outstanding principal balance of $250 million on the Term Loan A; • Extended the maturity of our existing Credit Agreement to March 2030; • Established ecosystem partnerships with leading technology companies to enable us to commercialize our intelligent edge portfolio, including with ServiceNow, Capgemini, Robust.AI, Vecna Robotics, Nota AI, SiMa.ai, DEEPX and others; • Continued our relentless focus on cost structure and operational optimization; • Maximized our operational flexibility with approximately 97% of our hourly workforce based in best cost countries, and approximately 31% of our hourly workforce composed of contingent employees; and • Fully prepared our EDS business, including the leadership team, for separation into an independent, publicly traded company, and remain on-track to complete the separation by April 1, 2026."},{"id":"e10","sourceId":"filing-2","location":"MD&A / first-half 2026 volume growth versus automotive production","excerpt":"Our volumes increased 1% for the six months ended June 30, 2026, which primarily reflects volume growth in North America and Asia Pacific, partially offset by volume declines in Europe, compared to decreased global automotive production of 1% (down 1% on an AWM basis)."},{"id":"e11","sourceId":"filing-2","location":"MD&A / competition and technological change","excerpt":"Product development. The automotive technology and components industry is highly competitive and is characterized by rapidly changing technology, evolving industry standards and changes in customer needs."},{"id":"e12","sourceId":"filing-1","location":"Goodwill assessment / realized Wind River impairment","excerpt":"The assessment indicated that the carrying value of this reporting unit exceeded its estimated fair value, and as a result, during the third quarter of 2025, the Company recorded a non-cash, pre-tax goodwill impairment charge of approximately $648 million related to the Wind River reporting unit."},{"id":"e13","sourceId":"filing-1","location":"Goodwill assessment / software-defined vehicle adoption delays","excerpt":"The modifications to forecasted reporting unit cash flows were attributable to the impacts resulting from market and industry delays in the broader adoption of software-defined vehicles."},{"id":"e14","sourceId":"filing-2","location":"Organization / completed Electrical Distribution Systems separation","excerpt":"On April 1, 2026 (the “Distribution Date”), the Company completed the separation of its Electrical Distribution Systems business into a new, independent publicly traded company, Versigent PLC (“Versigent”), by means of a spin-off to its shareholders (the “Separation”) by distributing to Aptiv shareholders on a pro rata basis all of the outstanding ordinary shares of Versigent."},{"id":"e15","sourceId":"filing-2","location":"Consolidated statements of operations / continuing and discontinued operations","excerpt":"FINANCIAL STATEMENTS APTIV PLC CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 (in millions, except per share amounts) Net sales $ 3,274 $ 3,199 $ 6,306 $ 6,186 Operating expenses: Cost of sales 2,499 2,468 4,861 4,784 Selling, general and administrative 332 327 660 636 Amortization 52 52 104 103 Restructuring (Note 7) 24 27 40 49 Total operating expenses 2,907 2,874 5,665 5,572 Operating income 367 325 641 614 Interest expense (62) (92) (146) (185) Other income, net (Note 15) 58 15 55 19 Net gain on equity method transactions (Note 20) 3 46 3 46 Income from continuing operations before income taxes and equity loss 366 294 553 494 Income tax expense (Note 10) (52) (16) (94) (342) Income from continuing operations before equity loss 314 278 459 152 Equity loss, net of tax (17) (14) (34) (29) Income from continuing operations 297 264 425 123 (Loss) income from discontinued operations, net of tax (Note 21) (50) 133 13 263 Net income 247 397 438 386 Net income attributable to noncontrolling interest — 5 3 6 Net loss attributable to redeemable noncontrolling interest (1) (1) (2) (2) Net income attributable to Aptiv $ 248 $ 393 $ 437 $ 382 Amounts attributable to Aptiv: Income from continuing operations $ 298 $ 265 $ 427 $ 125 (Loss) income from discontinued operations (50) 128 10 257 Net income $ 248 $ 393 $ 437 $ 382 Basic net income (loss) per share: Continuing operations $ 1.41 $ 1.21 $ 2.02 $ 0.56 Discontinued operations (0.24) 0.59 0.04 1.15 Basic net income per share attributable to Aptiv $ 1.17 $ 1.80 $ 2.06 $ 1.71 Weighted average number of basic shares outstanding 211.56 217.73 211.84 223.91 Diluted net income (loss) per share: Continuing operations $ 1.40 $ 1.21 $ 2.01 $ 0.55 Discontinued operations (0.23) 0.59 0.05 1.15 Diluted net income per share attributable to Aptiv $ 1.17 $ 1.80 $ 2.06 $ 1.70 Weighted average number of diluted shares outstanding 212.10 218.11 212.53 224.32 See notes to consolidated financial statements."},{"id":"e16","sourceId":"filing-2","location":"MD&A / segment adjusted operating income and variance attribution","excerpt":"70 Table of Contents Six Months Ended June 30, Variance Due To: 2026 2025 Favorable/ (unfavorable) Volume, net of contractual price reductions Operational performance Other Total (in millions) (in millions) Engineered Components $ 559 $ 506 $ 53 $ 5 $ 10 $ 38 $ 53 Intelligent Systems $ 270 $ 283 $ (13) $ (39) $ (24) $ 50 $ (13) As noted in the table above, Adjusted Operating Income for the six months ended June 30, 2026 as compared to the six months ended June 30, 2025 was impacted by volume, including contractual price reductions, net of price recoveries, of $87 million and product mix, as well as operational performance."},{"id":"e17","sourceId":"filing-2","location":"MD&A / favorable currency and warranty-cost contributions","excerpt":"Adjusted Operating Income was also impacted by the following items included within Other in the table above: •Favorable foreign currency impacts of $46 million, primarily related to the Mexican Peso; and •Approximately $20 million of decreased warranty costs."},{"id":"e18","sourceId":"filing-2","location":"MD&A / negotiated development-cost recovery independent of volumes","excerpt":"Recently, we and many other suppliers have negotiated for cost recovery payments independent of volumes."},{"id":"e19","sourceId":"filing-1","location":"Materials costs / limited non-copper commodity pass-through","excerpt":"Other than in the case of copper, our overall success in passing commodity cost increases on to our customers has been limited."},{"id":"e20","sourceId":"filing-2","location":"Liquidity / June 2026 cash and net debt","excerpt":"As of June 30, 2026, we had cash and cash equivalents of $761 million and net debt (defined as outstanding debt less cash and cash equivalents) of $4.6 billion."},{"id":"e21","sourceId":"filing-1","location":"Cash flows / 2024 repurchases and financing","excerpt":"Cash flows used in financing activities for the year ended December 31, 2024 primarily included $4,104 million paid to repurchase ordinary shares, $1,440 million for the repayment of senior notes and $350 million for the partial repayment of the Term Loan A, partially offset by net proceeds of $2,920 million received from the issuance of senior and junior notes, net proceeds of $598 million received from the issuance of the Term Loan A and $454 million for borrowings under other short-term debt agreements."},{"id":"e22","sourceId":"filing-3","location":"Compensation discussion / actual 2025 incentive-plan structure","excerpt":"The following table outlines the primary elements of executive compensation for the NEOs for 2025 and indicates how these elements relate to our key strategic objectives: Element Key Features Relationship to Strategic Objectives Annual Base Salary • Commensurate with job responsibilities, individual performance, capabilities, market competitiveness and talent market dynamics • Annual review • Attract and retain executives by providing market-competitive fixed compensation Annual Incentive Plan Awards • Compensation Committee approves an incentive design for the annual performance period to include financial, operational and strategic metrics with pre-established goals and objectives • Target award opportunity based upon job responsibilities, market competitiveness and talent market dynamics • Payouts can range from 0% to 200% of target and are determined by achievement of pre-established financial goals and strategic objectives • Pay-for-performance and encourages accountability by rewarding achievement of annual financial, operational and strategic objectives • Align executive and shareholder interests • Drive our current and future platforms and Aptiv’s sustainability, talent and operational commitments through strategic goals • Attract, retain and motivate executives with market-competitive incentive compensation opportunities Long-Term Incentive Plan Awards • Target award granted commensurate with job responsibilities, individual performance, market competitiveness and talent market dynamics • Performance-based RSU awards (60% of LTI) are earned based upon achievement of Company performance goals, including multi-year financial targets and relative TSR • Time-based RSU awards (40% of LTI) vest over time, generally three years • Drive pay-for-performance and encourages accountability by rewarding achievement of long-term objectives • Align executive and shareholder interests • Attract, retain and motivate executives with market-competitive incentive compensation opportunities • Utilize multi-year vesting and performance periods and multiple metrics aligned to long-term shareholder value creation, including stock price performance, providing a multi-dimensional assessment of performance Retirement Programs • Qualified defined contribution plan available to all U.S."},{"id":"e23","sourceId":"filing-3","location":"Compensation discussion / February 2026 performance-RSU payout","excerpt":"Table of Contents COMPENSATION DISCUSSION AND ANALYSIS 41 In February 2026, we paid out the performance-based RSUs for the 2023-2025 performance period."},{"id":"e24","sourceId":"filing-3","location":"Compensation discussion / achieved performance, payout and adjustments","excerpt":"Performance Metric Weight Threshold 40% Payout Target 100% Payout Maximum 200% Payout Achievement (% of Target) Average Return on Net Assets (RONA)(1) Actual: 24.1% 33.3% 138% 14.8% 22.2% 27.2% Actual: $4,678M Cumulative Net Income (NI)(2) 33.3% 196% $2,573M $3,860M $4,717M Actual: 53rd Relative Total Shareholder Return (TSR)(3) 33.3% 108% 30th 50th 90th Total Weighted Financial Performance Payout 147% (1) Average RONA is tax-affected adjusted operating income divided by average net working capital plus average net property, plant and equipment for each calendar year, as adjusted for the impacts of a non-cash, pre-tax goodwill impairment charge, an increase to valuation allowances of on deferred tax assets impacted by the OECD Administrative Guidance issued in the first quarter of 2025 and tax accruals associated with the separation of our EDS business."},{"id":"e25","sourceId":"filing-3","location":"Compensation policies / prohibition on hedging and pledging","excerpt":"No Hedging/No Pledging. The Company’s Insider Trading Policy prohibits directors and employees from entering into transactions that “hedge” the value of Aptiv stock and from pledging Aptiv securities as collateral for a loan, which includes engaging in short-term or speculative transactions and from engaging in short sales or the use of prepaid variable forward contracts, equity swaps, collars and exchange funds."},{"id":"e26","sourceId":"filing-3","location":"Proxy summary / board independence, meetings and governance practices","excerpt":"Massaro—Vice Chair and President, Engineered Components Group (\"ECG\") Advisory Vote to Approve Named Executive Officer Compensation FOR BOARD MEETING INFORMATION Board Meetings in 2025: 10 Standing Board Committee Meetings in 2025: Audit (5), Compensation and Human Resources (5), Finance (6), Innovation and Technology (5), Nominating and Governance (5) CORPORATE GOVERNANCE BEST PRACTICES 10 of 11 Independent Directors Annual Election of Directors Board Diversity and Experience Annual Board and Committee Evaluations COMPENSATION BEST PRACTICES Robust Stock Ownership Guidelines Clawback Policy Restrictive Covenants for Executives No Excise Tax Gross-Ups No Hedging/No Pledging Table of Contents 7 Table of Contents Table of Contents ELECTION OF DIRECTORS 9 Election of Directors (RESOLUTIONS 1 TO 11) All of our current directors are nominated for one-year terms to serve until the 2027 annual meeting, or until such director’s earlier resignation, retirement or other termination of service."},{"id":"e27","sourceId":"filing-3","location":"Board practices / combined chair and chief executive role","excerpt":"Our Chair and Chief Executive Officer is the only non-independent director."},{"id":"e28","sourceId":"filing-3","location":"Board practices / independent-director executive sessions","excerpt":"Independent directors meet in executive session at every regular Board and Board Committee meeting."},{"id":"e29","sourceId":"filing-3","location":"Board practices / fully independent committees","excerpt":"Board Committees Fully independent Audit, Compensation and Human Resources, Finance, Innovation and Technology and Nominating and Governance Committees."},{"id":"e30","sourceId":"filing-3","location":"Appendix A / historical GAAP and adjusted operating-income reconciliation","excerpt":"Table of Contents APPENDIX A A-2 ADJUSTED OPERATING INCOME Year Ended December 31, 2025 2024 2023 ($ in millions) $ Margin $ Margin $ Margin Net income attributable to ordinary shareholders $165 0.8% $1,787 9.1% $2,909 14.5% Mandatory convertible preferred share dividends — — 29 Net income attributable to Aptiv 165 0.8% 1,787 9.1% 2,938 14.7% Interest expense 361 337 285 Other income, net (50) (41) (63) Net gain on equity method transactions (46) (605) — Income tax expense (benefit) 700 223 (1,928) Equity loss, net of tax 38 118 299 Net income attributable to noncontrolling interest 19 24 28 Net loss attributable to redeemable noncontrolling interest (3) (1) — Operating income 1,184 5.8% 1,842 9.3% 1,559 7.8% Amortization 208 211 233 Restructuring 185 193 211 Separation costs 178 — — Other acquisition and portfolio project costs 30 80 80 Asset impairments 16 22 18 Goodwill impairment 648 — — Compensation expense related to acquisitions 17 18 26 Gain on asset sale (5) — — Adjusted operating income $2,461 12.1% $2,366 12.0% $2,127 10.6% Table of Contents APTIV PLC 5725 INNOVATION DRIVE TROY, MI 48098 SCAN TO VIEW MATERIALS & VOTE VOTE BY INTERNET - www.proxyvote.com or scan the QR Barcode above Use the Internet to transmit your voting instructions and for electronic delivery of information up until April 26, 2026 at 9:00 p.m."}],"changes":["No comparable previous version."],"limitations":["Only the supplied issuer passages were assessed. Source dates are filing dates: February 6, March 16 and August 4, 2026; they are not retrieval dates.","No competing supplier is named as a competitor in the supplied passages. Named customers, partners and the separated business do not establish competitor coverage; competitor arrays are therefore empty.","The April 2026 separation changes the assessed business. Historical tooling, manufacturing-footprint, cash-flow and commodity-recovery disclosures include the former group and cannot be assigned wholly to continuing Aptiv.","Patent ownership and management descriptions do not establish exclusivity, patent quality, comparable production costs or pricing premiums.","New-business awards depend on expected lifetime volumes and prices; they are not guaranteed revenue or demonstrated renewals. Retention is assessed indirectly, without inventing a retention rate.","Pricing disclosures demonstrate concessions but do not isolate a complete realized net-price series. Governance and incentive structures are disclosed, but complete executive ownership, compliance and long-term governance outcomes are not established."],"qualityAssessments":[{"category":"moat","checks":[{"criterion":"structural_advantage","grade":2,"rationale":"Program-specific tooling and owned intellectual property provide some differentiation, but OEM leverage and recurring price concessions limit economic protection. A durable relative cost advantage is not demonstrated.","evidenceIds":["e1","e2","e7","e5"]},{"criterion":"durability","grade":1,"rationale":"Tooling is tied to program lives, production-part commitments extend no further than one year, and rapid technology changes require repeated investment. The realized Wind River impairment weakens the case for durable technology rents.","evidenceIds":["e3","e4","e11","e12"]},{"criterion":"customer_dependency","grade":2,"rationale":"Dedicated tooling and non-cancellable tool-use rights support some program-level dependence. Volume growth above the weighted production market supports continuing demand indirectly, but does not demonstrate customer inability to switch.","evidenceIds":["e1","e2","e10"]},{"criterion":"erosion_resilience","grade":1,"rationale":"Current volume outperformance is positive, but recurring price reductions and realized technology impairment show fragile protection. First-half segment results were mixed, with favorable currency and lower warranty costs contributing to performance.","evidenceIds":["e10","e6","e12","e16","e17"]}]},{"category":"pricing_power","checks":[{"criterion":"realized_pricing","grade":1,"rationale":"Contractual production-price reductions typically equal 1%–3% of sales, and historical non-copper commodity pass-through was limited. Price recoveries exist, but the passages do not demonstrate sustained net pricing power.","evidenceIds":["e5","e6","e19"]},{"criterion":"retention","grade":2,"rationale":"Dedicated tooling, substantial new awards and volume growth above the weighted market support repeat demand indirectly. Awards include new business and expected future volumes; neither renewal rates nor retention under adverse repricing is disclosed.","evidenceIds":["e1","e9","e10"]},{"criterion":"margin_resilience","grade":2,"rationale":"First-half 2026 continuing operating income rose to $641 million from $614 million on modest sales growth. However, Intelligent Systems adjusted operating income declined, currency and warranty benefits supported results, and historical GAAP performance included substantial impairment and separation costs. This is mixed resilience, not evidence of a moat from margins alone.","evidenceIds":["e15","e16","e17","e30"]},{"criterion":"contractual_freedom","grade":1,"rationale":"OEM leverage and required price step-downs materially constrain terms. Negotiating development-cost recovery independently of production volumes is a concrete improvement, but does not establish unilateral pricing freedom.","evidenceIds":["e5","e18"]}]},{"category":"strong_management","checks":[{"criterion":"capital_discipline","grade":2,"rationale":"Reported 2025 operating cash flow of $2.2 billion and debt repayments support financial discipline. The $648 million Wind River impairment, substantial repurchases alongside 2024 financing, and $4.6 billion of June 2026 net debt offset that evidence. Repurchases alone do not establish value creation.","evidenceIds":["e9","e12","e20","e21"]},{"criterion":"incentive_alignment","grade":3,"rationale":"The actual 2025 program allocated 60% of long-term incentives to performance RSUs, with multiyear financial and relative shareholder-return measures. The 2023–2025 awards were paid in February 2026, demonstrating implementation, and hedging and pledging are prohibited. Adjusted payout measures and incomplete ownership evidence limit the assessment.","evidenceIds":["e22","e23","e24","e25"]},{"criterion":"execution","grade":2,"rationale":"Completing the separation, growing volumes faster than the weighted market and increasing continuing operating income demonstrate execution through disclosed outcomes. Technology-demand forecasting failures and uneven segment performance temper those achievements. Customer retention is inferred indirectly from operating evidence.","evidenceIds":["e14","e10","e15","e12","e16"]},{"criterion":"governance","grade":3,"rationale":"The proxy discloses 10 of 11 independent directors, annual elections, independent committees and regular independent executive sessions. These are concrete oversight arrangements. The combined chair/CEO role and limited evidence of oversight outcomes prevent an exceptional grade; proposed 2026 elections are not treated as completed.","evidenceIds":["e26","e27","e28","e29"]}]}],"qualityPolicy":"quality-scores-2","basisHash":"334ff01356fe405c45419bd659960bc22f621ebc3ef3cba5dfd7ec64b377ae06","updatedAt":"2026-10-18T01:12:16.229Z","sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/1521332/000152133226000009/aptv-20251231.htm","publishedAt":"2026-02-06","sha256":"a2a501e4576c62cbfd1274a4b1c0d194a2612ce0864079a320a8a6d785cfe91d","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/1521332/000152133226000061/aptv-20260630.htm","publishedAt":"2026-08-04","sha256":"1a652595c1abdfb1427bb6ac68eea5c472f213a9a7c3fc71501887dc78aab8c7","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/1521332/000119312526108328/aptv-20260311.htm","publishedAt":"2026-03-16","sha256":"faab892c7c202488929320ae9794e62d6b13fccf715f68d34db5d4beb6d29cf4","dateKind":"filed"}],"model":"gpt-6.1-sol","providerId":"codex:21b6af610978f4264094eb5e2728bb0fe1c076c570273d225dc2482df409a160","usage":{"input_tokens":53341,"cached_input_tokens":20992,"cache_write_input_tokens":0,"output_tokens":3596,"reasoning_output_tokens":197}},"signals":[{"period":"2021","end":"2021-12-31","values":{"gross_margin":15.597387629658085,"operating_margin":7.613010628761685,"roic":11.146033278157494,"fcf_margin":3.9121526443846846,"sbc_revenue":0.5570495582020745},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2022","end":"2022-12-31","values":{"gross_margin":15.06661329978844,"operating_margin":7.221682200240151,"roic":9.440801612308041,"fcf_margin":2.3957916404597173,"sbc_revenue":0.4917376636743096},"issues":{"pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2023","end":"2023-12-31","values":{"gross_margin":17.151264276095958,"operating_margin":7.775173308064436,"roic":null,"fcf_margin":4.93740960550596,"sbc_revenue":0.57353747942746},"issues":{"software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic":"NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.","roiic":"NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2024","end":"2024-12-31","values":{"gross_margin":18.82514077005022,"operating_margin":9.344087657890732,"roic":10.126563220703428,"fcf_margin":8.197636077715213,"sbc_revenue":0.6087353523055852},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roiic":"Invested capital did not increase versus the prior year. ROIIC requires a positive increase.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2025","end":"2025-12-31","values":{"gross_margin":19.109716638886166,"operating_margin":5.804490636336896,"roic":1.7937643486499404,"fcf_margin":7.495832924796549,"sbc_revenue":0.6814393567996863},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roiic":"Invested capital did not increase versus the prior year. ROIIC requires a positive increase.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}}],"sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/1521332/000152133226000009/aptv-20251231.htm","publishedAt":"2026-02-06","sha256":"a2a501e4576c62cbfd1274a4b1c0d194a2612ce0864079a320a8a6d785cfe91d","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/1521332/000152133226000061/aptv-20260630.htm","publishedAt":"2026-08-04","sha256":"1a652595c1abdfb1427bb6ac68eea5c472f213a9a7c3fc71501887dc78aab8c7","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/1521332/000119312526108328/aptv-20260311.htm","publishedAt":"2026-03-16","sha256":"faab892c7c202488929320ae9794e62d6b13fccf715f68d34db5d4beb6d29cf4","dateKind":"filed"}],"history":[{"version":3,"updatedAt":"2026-10-18T16:35:43.872Z","verdict":"none","value":null},{"version":2,"updatedAt":"2026-10-18T02:27:49.793Z","verdict":"none","value":null},{"version":1,"updatedAt":"2026-10-18T02:18:02.026Z","verdict":null,"value":null}],"hasRequested":false,"requestStatus":"completed","researchIssue":null,"archivedMoat":null,"scope":"supported_catalog"}