Start here if you're new
what it is
Strattec makes the locks, keys, latches, and powered access parts that let you get into and use your vehicle.
how it gets paid
Last year Strattec Security made $565M in revenue. Power access systems was the main engine at $158M, or 28% of sales.
why it's growing
Revenue grew 5.1% last year. Revenue rose 111% vs. prior year and EPS rose 172%.
what just happened
Latest quarter revenue hit $290M and EPS jumped to $3.26 as margins recovered.
At a glance
B balance sheet — gets the job done, barely
5/100 earnings predictability — expect surprises
13.9x trailing p/e — the market's not buying it — or you found a deal
8.4% return on capital — nothing to write home about
$4.58 fy2025 eps est
xvary composite: 51/100 — below average
What they do
Strattec makes the locks, keys, latches, and powered access parts that let you get into and use your vehicle.
This is a parts business baked into vehicle programs before your car hits the lot. Once an automaker picks a supplier, switching is expensive and slow. Strattec used that position to produce $565 million of annual revenue with 2,848 employees, even after a loss in fiscal 2023 flipped to $4.07 in fiscal 2024 EPS.
How they make money
$565M
annual revenue · their business grew +5.1% last year
Power access systems
$158M
Mechanical locks and keys
$135M
Electronically enhanced locks and keys
$118M
Latches and door handles
$102M
Aftermarket and support services
$52M
The products that matter
vehicle lock and key hardware
Mechanical Locks & Keys
$339M · 60% of segment revenue shown
It is still the larger business at $339M, but growth was only 2.1%. That means you are relying on the newer electronic side to do the heavy lifting from here.
largest segment
electronic vehicle access systems
Electronic Access Systems
$226M · +9.8% growth
This $226M segment grew 9.8% and helped drive gross margin up to 16.5% from 13.2%. It is smaller than mechanical today, but it is the part of the business that can change the earnings profile.
margin lever
Key numbers
$309M
market cap
You are paying about $0.55 for each $1.00 of trailing revenue, based on a $309 million value against $565 million of sales.
6.6%
operating margin
Operating margin → profit left after running the business → so what: this company is profitable, but not cushioned.
$4.07
fy2024 eps
EPS → profit per share → so what: Strattec went from a fiscal 2023 loss of $1.70 to a fiscal 2024 profit of $4.07.
13.9x
trailing p/e
P/E → price compared with yearly profit → so what: the stock is priced like a boring supplier, not a hot tech name.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 20 / 100
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for STRT right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Latest quarter revenue hit $290M and EPS jumped to $3.26 as margins recovered.
Revenue rose 111% vs. prior year and EPS rose 172%, according to the data provided. Gross margin reached 16.9%, which matters because this business only carries a 6.6% operating margin over time.
$290M
revenue
$3.26
eps
16.9%
gross margin
the number that mattered
Gross margin at 16.9% was the key number, because a parts supplier lives or dies on a few percentage points of production economics.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
The top risk is North American auto production slowing while STRT still depends on that end market for its entire sales base.
med
auto production slowdown
The FY2026 revenue forecast is $578.4M, and this is still an automotive supplier story. If vehicle production weakens, there is no separate engine here to bail out the numbers.
A 10% drop in auto production would put more than $50M of revenue at risk based on that forecast.
med
margin giveback
Gross margin improved to 16.5% from 13.2%. That's real progress. It is also the part of the story doing most of the valuation work right now.
If margins slide back toward 13%, the low-teens earnings multiple stops looking cheap and starts looking accurate.
med
forecast cuts keep coming
Analysts already cut FY2026 revenue expectations from $594.1M to $578.4M. That means the company can beat a quarter and still lose confidence in the next few quarters.
Another cut would pressure sentiment because this stock already scores just 5/100 on earnings predictability.
med
august 2026 credit facility maturity
The ADAC-Strattec credit facility matures in August 2026. The debt load is only $2.5M, so this is not a balance-sheet crisis, but it is still a financing event worth tracking.
Refinancing at worse terms would not break the company. It would remind you this is a small cap without the luxuries megacaps get.
This is a low-debt company, not a low-risk one. The cycle can still hit the full $578.4M revenue outlook, and the recent margin jump is not proven until it survives weaker demand.
source: institutional data · regulatory filings · risk analysis
Pay attention to
mix shift
electronic access growth versus mechanical
Electronic access systems grew 9.8% while mechanical locks and keys grew 2.1%. If that gap narrows, the margin story weakens fast.
calendar
next earnings date
Estimated for May 7, 2026. You want to see whether gross margin can stay closer to 16.5% than 13.2%.
balance sheet
credit facility maturity
August 2026. Only $2.5M is tied to the facility, so this is manageable. It still matters because small-cap financing events can create noise.
estimates
whether the $578.4M sales forecast stabilizes
The prior forecast was $594.1M. One cut is a warning. A second cut would tell you the street thinks end-market demand is softer than the quarter beat suggested.
Analyst rankings
earnings predictability
5 / 100
In human-speak, analysts think this company can surprise you in either direction.
risk rank
3
That sits around the middle. Not reckless. Not steady enough to relax.
source: institutional data
Institutional activity
institutional ownership data for STRT is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$80
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive