Aptiv (APTV) 10-K Summary — Year Ended Dec 31, 2023
Aptiv PLC, a global technology company, reported a revenue increase for the latest fiscal year, driven by demand for its vehicle architecture and advanced safety systems. Operating cash flow remained positive, supporting the company's capital allocation priorities.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Aptiv PLC, a global technology company, reported a revenue increase for the latest fiscal year, driven by demand for its vehicle architecture and advanced safety systems. Operating cash flow remained positive, supporting the company's capital allocation priorities.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$20.1B
Revenue reported for the fiscal year.
Operating income
$1.6B
Income from operations reported for the year.
Net income
$2.9B
Net income reported for the year.
Operating cash flow
$1.9B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $15.6B | n/a |
| Dec 31, 2022 | $17.5B | +12.0% |
| Dec 31, 2023 | $20.1B | +14.6% |
Business overview
Aptiv designs and manufactures electrical and electronic components, including vehicle architecture and advanced safety systems, for the automotive industry. The business operates through two main segments: Signal and Power Solutions and Advanced Safety and User Experience. The company serves major global automakers, leveraging its technology in electrification and autonomous driving.
Financial performance
Revenue grew strongly compared to the prior year, with operating income and net income both showing solid results. Operating cash flow increased, reflecting improved profitability and working capital management.
Material risks
The filing identifies risks from global supply chain disruptions and semiconductor shortages that could impair production. Shifts in consumer demand for electric and autonomous vehicles may affect the company's product mix and profitability. Economic volatility, including inflation and interest rate changes, could also impact customer purchasing decisions.
Liquidity and capital
The company uses operating cash flow and borrowing capacity to fund capital expenditures, acquisitions, and returning capital to shareholders. The filing notes a focus on maintaining a strong balance sheet and investment-grade credit rating.
What to watch
Monitor how ongoing semiconductor supply constraints affect the company's order fulfillment and production volumes in the next reporting period.