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Commercial Vehicle Group
(NASDAQ:CVGI)
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Rating:48Neutral
Price Target:
$3.50
▼(-24.24% Downside)
Action:Reiterated
Date:08/12/26
CVGI’s score is held back primarily by weak and volatile fundamentals (losses, compressed margins, and inconsistent/free-cash-flow softness) and bearish technicals (below key moving averages with negative MACD). Offsetting these are improved leverage and a more positive outlook from the earnings call, including raised 2026 revenue/EBITDA guidance and expectations for positive full-year free cash flow.
Positive Factors
Improved leverage / stronger balance sheet
Net leverage falling to roughly 0.67x (TTM) materially improves financial flexibility. Lower leverage reduces interest burden, expands capacity to fund capex or absorb cyclical downturns, and supports multi-quarter deleveraging — a durable tailwind for stability and strategic optionality.
Negative Factors
Ongoing losses and weak profitability
Negative TTM net margin and recent GAAP losses show CVG remains loss-making, which erodes equity and limits retained earnings. Persistent unprofitability constrains reinvestment, heightens funding needs, and must be corrected for leverage and revenue gains to translate into durable shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage / stronger balance sheet
Net leverage falling to roughly 0.67x (TTM) materially improves financial flexibility. Lower leverage reduces interest burden, expands capacity to fund capex or absorb cyclical downturns, and supports multi-quarter deleveraging — a durable tailwind for stability and strategic optionality.
Read all positive factors
Commercial Vehicle Group (CVGI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$137.74M
Dividend YieldN/A
Average Volume (3M)542.58K
Price to Earnings (P/E)―
Beta (1Y)1.02
Revenue Growth-0.42%
EPS Growth41.05%
CountryUS
Employees6,100
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.63
Shares Outstanding40,632,683
10 Day Avg. Volume305,695
30 Day Avg. Volume542,580
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)0.37
Price to Sales (P/S)0.08
P/FCF Ratio1.43
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$7.25Price Target Upside56.93% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.12
Revenue Forecast (FY)$681.07M
Commercial Vehicle Group Business Overview & Revenue Model
Company Description
Commercial Vehicle Group, Inc., together with its subsidiaries, provides systems, assemblies, and components to the vehicle market and electric vehicle markets in North America, Europe, and the Asia-Pacific. The company operates in three segments:...
How the Company Makes Money
CVGI makes money primarily by manufacturing and selling engineered components and assembled systems to original equipment manufacturers (OEMs) and other customers, with revenue largely recognized from product sales under customer supply agreements...
Commercial Vehicle Group Earnings Call Summary
Earnings Call Date:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call conveyed meaningful progress: top-line growth across all segments, gross margin expansion, notable segment-level ramps (Electrical, Trim, Seating), deleveraging actions and an upward revision to 2026 revenue and EBITDA guidance. Offsetting these positives were continued GAAP and adjusted losses, a Q2 free cash outflow driven by working-capital investment, elevated SG&A (incentive-related) and near-term macro/supply-chain risks. Management emphasized ongoing margin opportunity from operating leverage and pricing/mix while balancing cash generation and debt reduction.Positive Updates
Consolidated Revenue Growth
Q2 2026 consolidated revenue of $195.2M vs $172.0M prior year, increase of ~13.5% YoY, driven by increased international demand and ramps of previously awarded new business across all three segments.
Negative Updates
Net Loss and Warrant Revaluation
GAAP net loss from continuing operations of $8.7M ($0.25/sh) in Q2 2026 vs $4.1M ($0.12/sh) prior year. GAAP results included a $3.4M pretax warrant liability revaluation; adjusted net loss widened to $4.6M ($0.13/sh) from $2.9M ($0.09/sh) YoY.
Read all updates
Q2-2026 Updates
Positive
Negative
Consolidated Revenue Growth
Q2 2026 consolidated revenue of $195.2M vs $172.0M prior year, increase of ~13.5% YoY, driven by increased international demand and ramps of previously awarded new business across all three segments.
Read all positive updates
Company Guidance
CVG raised its 2026 guidance to revenue of $725–$755 million (≈+14% vs. 2025 at the midpoint) and adjusted EBITDA of $26–$31 million (≈+60% vs. 2025 at the midpoint), expects positive free cash flow for 2026, and reiterated a long‑term net leverage target of ~2x (net leverage improved to 3.3x from 4.1x at 2025 year‑end after $14.6M of debt paydown since year‑end, $11.6M of ATM proceeds, sale‑leaseback proceeds including $3.8M for Dublin, and $26.2M year‑to‑date term‑loan paydown). Q2 metrics: revenue $195.2M (vs. $172M), adjusted gross margin 12.9% (+90 bps YoY, +70 bps sequential), adjusted EBITDA $5.4M (margin 2.8%, down 20 bps YoY), adjusted net loss $4.6M (−$0.13/sh), GAAP net loss $8.7M (−$0.25/sh), interest expense $2.9M, and FCF outflow $1.4M (vs. inflow $17.3M prior year). Management cited ACT Class 8 forecasts of +9% in 2026, +9% in 2027 and +13% in 2028 (Q2 production ~68,000), confirmed Zoox ramp plans (~2,500 vehicles in 2026, 5,000 in 2027, 10,000 in 2028), expects SG&A ~11–11.5% of sales in 2026 with a longer‑term SG&A target of ~10% and a long‑term gross‑margin target in the mid‑teens, and anticipates H2 interest expense run‑rate of roughly $2.0–$2.5M per quarter.Commercial Vehicle Group Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
56
Neutral
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 673.98M | 649.00M | 723.36M | 835.47M | 782.58M | 971.58M |
| Gross Profit | 75.61M | 68.39M | 82.32M | 121.89M | 85.03M | 118.99M |
| EBITDA | 10.13M | 12.03M | 26.40M | 58.30M | 42.58M | 68.53M |
| Net Income | -23.05M | -22.78M | -27.87M | 49.41M | -21.97M | 23.73M |
Balance Sheet | ||||||
| Total Assets | 454.53M | 391.71M | 424.57M | 483.21M | 470.27M | 507.69M |
| Cash, Cash Equivalents and Short-Term Investments | 35.95M | 33.28M | 26.63M | 37.85M | 31.82M | 34.96M |
| Total Debt | 146.52M | 144.54M | 166.33M | 173.43M | 179.28M | 222.99M |
| Total Liabilities | 318.41M | 258.36M | 288.98M | 310.28M | 350.23M | 381.04M |
| Stockholders Equity | 136.12M | 133.36M | 135.59M | 172.93M | 120.04M | 126.65M |
Cash Flow | ||||||
| Free Cash Flow | -390.00K | 33.99M | -51.97M | 18.58M | 49.24M | -47.48M |
| Operating Cash Flow | 10.72M | 44.64M | -33.45M | 38.28M | 68.95M | -29.83M |
| Investing Cash Flow | 4.85M | -10.61M | 30.90M | -19.70M | -19.71M | -17.57M |
| Financing Cash Flow | -24.11M | -29.23M | -7.12M | -12.73M | -50.09M | 31.01M |
Commercial Vehicle Group Technical Analysis
Negative
4.62
Price Trends
4.48
Negative
4.50
Negative
3.14
Positive
Market Momentum
-0.39
Positive
31.18
Neutral
24.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CVGI, the sentiment is Negative. The current price of 4.62 is above the 20-day moving average (MA) of 3.94, above the 50-day MA of 4.48, and above the 200-day MA of 3.14, indicating a neutral trend. The MACD of -0.39 indicates Positive momentum. The RSI at 31.18 is Neutral, neither overbought nor oversold. The STOCH value of 24.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $138.03M | 2.40 | 13.77% | ― | 17.64% | 42.96% | |
72 Outperform | $341.57M | 13.29 | 10.75% | ― | 4.22% | 23.13% | |
71 Outperform | $642.76M | 44.94 | 3.41% | 1.60% | -20.95% | -66.17% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | $201.37M | -1.79 | -59.31% | ― | -13.70% | -264.88% | |
48 Neutral | $137.74M | -5.17 | -17.17% | ― | -0.42% | 41.05% |
* Consumer Cyclical Sector Average
CVGI
Commercial Vehicle Group
3.28
1.44
78.26%
CAAS
China Automotive Systems
4.61
0.58
14.39%
MLR
Miller Industries
56.52
13.83
32.41%
SRI
Stoneridge
7.01
-0.93
-11.71%
STRT
Strattec Security
81.78
13.81
20.32%
Commercial Vehicle Group Corporate Events
Business Operations and StrategyExecutive/Board Changes
Commercial Vehicle Group Names Angie O’Leary Permanent CFO
Positive
Aug 10, 2026
On August 6, 2026, Commercial Vehicle Group’s board promoted Angie O’Leary to Executive Vice President and Chief Financial Officer, following her tenure as interim CFO since March 2026 and earlier roles as Senior Vice President, Corpor...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Commercial Vehicle Group Raises 2026 Outlook Amid Growth
Positive
Aug 3, 2026
In its second quarter ended June 30, 2026, Commercial Vehicle Group reported revenues of $195.2 million, up 13.5% year on year, driven by rising demand across all three segments and ramp-up of previously awarded programs. Gross margin improved by ...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Commercial Vehicle Group Executes ATM Equity Program
Positive
Jul 6, 2026
On June 18, 2026, Commercial Vehicle Group, Inc. entered into a Capital on Demand Sales Agreement with JonesTrading Institutional Services LLC, allowing the company to sell up to $25 million of common stock through an at-the-market equity program....
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Commercial Vehicle Group Establishes $25 Million ATM Program
Positive
Jun 18, 2026
On June 18, 2026, Commercial Vehicle Group, Inc. entered into a Capital on Demand Sales Agreement with JonesTrading Institutional Services LLC that allows the company to issue and sell up to $25 million of its common stock from time to time throug...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Commercial Vehicle Group Shareholders Back Governance and Incentive Plan
Positive
May 18, 2026
At its virtual Annual Meeting of Stockholders held on May 14, 2026, Commercial Vehicle Group, Inc. shareholders elected seven directors to serve until the 2027 annual meeting and ratified the appointment of KPMG LLP as the company’s independ...
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.