Aptiv (APTV) FY2025 results: revenue $20.4 billion, up 3.5% on the year

Aptiv is a global industrial technology company working on automation, electrification and digitalisation, supplying hardware and software that reaches from sensor to cloud for the automotive industry and beyond it. Its customers include the 25 largest automotive original equipment manufacturers in the world along with major aerospace and defence companies. In December 2024 the group completed a reorganisation in which the previous Jersey parent established a new publicly listed Jersey parent resident for tax purposes in Switzerland, with shares exchanged one for one, the old parent then merging into a new Jersey subsidiary and ceasing to exist; the new parent took the Aptiv PLC name and the shares continue to trade on the New York Stock Exchange. The filing records no material change in operations or governance from that transaction.

The three segments

Advanced Safety and User Experience covers the Active Safety, User Experience and Smart Vehicle Compute and Software product lines, supplying intelligent sensors, high-performance compute platforms and advanced software tools and services for vehicle safety, security, comfort and convenience. Engineered Components Group supplies connection systems, high-performance interconnects and cable management and protection that carry power, signals and data across multiple end markets. Electrical Distribution Systems supplies low voltage and high voltage power, signals and data distribution for integrated, cost-optimised architectures. The company realigned into these three segments in the first quarter of 2025, restating prior periods, and from the first quarterly report of 2026 the first two are renamed Intelligent Systems and Engineered Components, with no change to what sits inside them.

The separation

On 22 January 2025 the company announced its intention to separate Electrical Distribution Systems into an independent publicly traded company through a transaction expected to be treated as a tax-free spin-off, to be named Versigent and to trade on the New York Stock Exchange under the symbol VGNT, with completion planned by 1 April 2026 subject to customary conditions. During 2025 the company incurred costs of approximately 178 million dollars on the separation, mainly third-party professional fees for planning, recorded in selling, general and administrative expense, with further expenses to come through completion of the transaction.

The markets it sells into

The company ties its prospects to automation, electrification and digitalisation, which it says are reshaping the core mobility industry and spreading into aerospace and defence, telecom and datacom and diversified industrials, helped by consumer demand for intelligent and connected products and by government regulation. The business is spread across end markets, regions, customers, vehicle platforms and products: 29% of 2025 net sales came from Asia Pacific, the ten largest platforms were with six different manufacturers, and its products were in 18 of the 20 top-selling vehicle models in the United States, 17 of the 20 in Europe and all 20 of the top 20 in China. Named competitors include Bosch, Aumovio, Denso and Gentex in advanced safety and user experience, Amphenol and TE Connectivity in engineered components, and Lear and Yazaki in electrical distribution systems.

How it is set up and how it sells

Design and manufacturing run on a regional service model from lower cost countries: North America served from Mexico, South America from Brazil, Europe from Eastern Europe and North Africa, and Asia Pacific from China, so the company can engineer globally and execute regionally for manufacturers that want worldwide supply. Products go to manufacturers through purchase orders governed by each customer's general terms, under which customers order their requirements for particular vehicles without committing to a minimum, typically for the life of the vehicle. Prices are negotiated for each award and can be adjusted for commodity or currency escalation, direct labour cost changes, design changes or cost reductions. Warranties usually run coterminously with the manufacturer's warranty to the end user, and the company may share recall costs where defects are attributable to its products. Purchase orders can be terminated for cause or non-performance and many customers may terminate for convenience, and production follows customer release schedules issued weekly, which vary with automobile production and dealer inventory.

People

At 31 December 2025 the company employed approximately 140,000 people, 30,000 salaried and 110,000 hourly, alongside a contingent workforce of approximately 51,000 used to absorb swings in customer demand. Approximately 55% of management openings were filled by internal promotion in 2025. Its safety management system is aligned with ISO 45001 and 92% of sites were certified under that standard at the end of 2025.

From Aptiv's annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 6 February 2026: read the full 10-K.