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SRI Stoneridge

Stoneridge, Inc. engages in the production of engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. It operates through the following segments: Control Devices, Electronics, and Stoneridge Brazil. The Control Devices segment designs and manufactures products that monitor, measure, and activate specific functions within a vehicle such as sensors, switches, valves, and actuators. The Electronics segment offers driver information systems, camera-based vision systems, connectivity and compliance products, and electronic control units. The Stoneridge Brazil segment sells vehicle tracking devices and monitoring services, vehicle security alarms and convenience accessories, in-vehicle audio and infotainment devices, and telematics solutions. The company was founded by D. M. Draime in 1965 and is headquartered in Novi, MI.

Company profile

Ticker
SRI
Exchange
CEO
Jonathan DeGaynor
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
341598949

SRI stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

28 Apr 21
30 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Stoneridge earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 60.51M 60.51M 60.51M 60.51M 60.51M 60.51M
Cash burn (monthly) 4.47M 1.73M (positive/no burn) 908K 5.69M (positive/no burn)
Cash used (since last report) 17.87M 6.93M n/a 3.63M 22.74M n/a
Cash remaining 42.64M 53.58M n/a 56.88M 37.77M n/a
Runway (months of cash) 9.5 30.9 n/a 62.6 6.6 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Mar 21 Laurent Borne Common Shares, without par value Payment of exercise Dispose F No No 36.46 3,598 131.18K 11,080
10 Mar 21 Laurent Borne Common Shares, without par value Option exercise Aquire M No No 0 12,166 0 14,678
10 Mar 21 Laurent Borne Performance Shares/Share Units Common Shares, without par value Sale back to company Dispose D No No 0 5,123 0 47,393
10 Mar 21 Laurent Borne Performance Shares/Share Units Common Shares, without par value Option exercise Dispose M No No 0 12,166 0 52,516
9 Mar 21 Paul J. Schlather Common Shares, without par value Grant Aquire A No No 0 3,293 0 79,139
9 Mar 21 Kim Korth Common Shares, without par value Grant Aquire A No No 0 3,293 0 66,702
9 Mar 21 Frank S Sklarsky Common Shares, without par value Grant Aquire A No No 0 3,293 0 3,293
9 Mar 21 Douglas C Jacobs Common Shares, without par value Grant Aquire A No No 0 3,293 0 71,962

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 119 118 +0.8%
Opened positions 13 25 -48.0%
Closed positions 12 12
Increased positions 37 38 -2.6%
Reduced positions 53 42 +26.2%
13F shares
Current Prev Q Change
Total value 1.28B 1.05B +21.9%
Total shares 27.87M 28.31M -1.6%
Total puts 13K 0 NEW
Total calls 11K 0 NEW
Total put/call ratio 1.2
Largest owners
Shares Value Change
Frontier Capital Management 2.16M $65.15M 0.0%
BLK Blackrock 2.11M $67.06M +5.5%
TROW T. Rowe Price 1.71M $54.43M -1.4%
Frontier Capital Management 1.58M $50.35M -26.6%
Loomis Sayles & Co L P 1.56M $49.62M +45.9%
Dimensional Fund Advisors 1.52M $48.36M -7.7%
JHG Janus Henderson 1.43M $45.35M -15.6%
Vanguard 1.35M $43.06M -1.0%
Pembroke Management 1.05M $33.3M +2.4%
Thrivent Financial For Lutherans 997.16K $31.72M -4.2%
Largest transactions
Shares Bought/sold Change
Frontier Capital Management 1.58M -572.47K -26.6%
Loomis Sayles & Co L P 1.56M +490.42K +45.9%
Wasatch Advisors 723.02K +385.01K +113.9%
Next Century Growth Investors 377.18K +377.18K NEW
Kingdon Capital Management, L.L.C. 0 -348.3K EXIT
JHG Janus Henderson 1.43M -263.97K -15.6%
TFC Truist Financial 0 -159.77K EXIT
Arrowstreet Capital, Limited Partnership 148.95K +129.19K +653.6%
Dimensional Fund Advisors 1.52M -126.7K -7.7%
Carillon Tower Advisers 0 -123.87K EXIT

Financial report summary

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Competition
CTSDanaMethode ElectronicsCalampBorgWarnerVisteonDensoAptivAptivDelphi Technologies
Risks
  • Our business is cyclical and a downturn in the automotive, commercial, off-highway, motorcycle and agricultural vehicle markets as well as overall economic conditions could reduce the sales and profitability of our business.
  • Our business is very competitive and increased competition could reduce our sales and profitability.
  • The loss or insolvency of any of our principal customers would adversely affect our future results.
  • We must implement and sustain a competitive technological advantage in producing our products to compete effectively.
  • The discontinuation of, loss of business or lack of commercial success, with respect to a particular vehicle model for which the Company is a significant supplier could reduce the Company’s sales and harm its profitability.
  • We have foreign currency translation and transaction risks that may materially adversely affect our operating results, financial condition and liquidity.
  • Our debt obligations could limit our flexibility in managing our business and expose us to risks.
  • Covenants in our 2019 Credit Facility may limit our ability to pursue our business strategies.
  • Our annual effective tax rate could be volatile and materially change as a result of changes in the mix of earnings and other factors including changes in the recognition and/or release of valuation allowances against deferred tax assets.
  • We are dependent on the availability and price of raw materials and other supplies.
  • The prices that we can charge our customers are typically predetermined and we bear the risk of costs in excess of our estimates, in addition to the risk of adverse effects resulting from general customer demands for cost reductions and quality improvements.
  • We have limited or no redundancy for certain of our manufacturing facilities, and therefore damage or disruption to those facilities could interrupt our operations, increase our costs of doing business and impair our ability to deliver our products on a timely basis.
  • We rely on independent dealers and distributors to sell certain products in the aftermarket sales channel and a disruption to this channel would harm our business.
  • Our Global Positioning Systems (“GPS”) products depend upon satellites maintained by the United States Department of Defense. If a significant number of these satellites become inoperable, unavailable or are not replaced, or if the policies of the United States government for the use of the GPS without charge are changed, our business will suffer.
  • We are subject to risks related to our international operations.
  • Our inability to effectively manage the timing, quality and costs of new program launches could adversely affect our financial performance.
  • We may not be able to successfully integrate acquisitions into our business or may otherwise be unable to benefit from pursuing acquisitions.
  • Increased or unexpected product warranty claims could adversely affect us.
  • We may incur material product liability costs.
  • If we fail to protect our intellectual property rights or maintain our rights to use licensed intellectual property or are found liable for infringing the rights of others, our business could be adversely affected.
  • A failure of our information technology (IT) networks and systems, or the inability to successfully implement upgrades to our enterprise resource planning (ERP) systems, could adversely impact our business and operations.
  • We may be subject to risks relating to our information technology systems and cybersecurity.
  • Privacy and security concerns relating to the Company’s current or future products and services could damage its reputation and deter current and potential users from using them.
  • Compliance with environmental and other governmental regulations could be costly and require us to make significant expenditures.
Management Discussion
  • Net Sales. Net sales for our reportable segments, excluding inter-segment sales are summarized in the following table (in thousands):
  • Our Control Devices segment net sales decreased primarily as a result of COVID-19 and 2019 sales of $41.6 million under the contract manufacturing agreement pursuant to the 2019 disposal of the Non-core Products. Including the impact of COVID-19, Control Devices experienced decreased sales volume in our North American automotive, North American commercial vehicle, agricultural and other markets of $61.5 million, $17.4 million, $9.6 million and $14.5 million, respectively. These decreases were offset by increased sales volume in our European and China automotive markets of $7.2 million and $6.6 million, respectively.
  • Our Electronics segment net sales decreased primarily as a result of COVID-19 including a decrease in sales volume in our European, North American and China commercial vehicle markets of $47.2 million, $23.4 million and $1.0 million, respectively. In addition, the Electronics segment net sales decreased due to a decrease in sales volume in our European off-highway vehicle products of $17.1 million. These decreases were offset by a favorable foreign currency translation of $11.4 million.
Content analysis
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