American Axle & Mfg Hldgs Inc Financials
This page shows American Axle & Mfg Hldgs Inc (AXL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A thin-margin, asset-heavy model kept cash positive, but debt-funded liquidity replaced operating resilience in FY2025.
The stronger current ratio of 2.9x did not come from the core business becoming more self-funding; financing cash flow swung to$1.4B and reshaped near-term liquidity. At the same time, long-term debt rose to$4.1B and interest expense of$201.1M exceeded operating income, meaning the extra cushion came with a heavier drag on reported earnings.
Gross margin held near
Cash generation stayed positive despite the net loss because depreciation and amortization of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of American Axle & Mfg Hldgs Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
American Axle & Mfg Hldgs Inc has an operating margin of 1.9%, meaning the company retains $2 of operating profit per $100 of revenue. This results in a moderate score of 52/100, indicating healthy but not exceptional operating efficiency. This is down from 3.9% the prior year.
American Axle & Mfg Hldgs Inc's revenue declined 4.7% year-over-year, from $6.1B to $5.8B. This contraction results in a growth score of 25/100.
American Axle & Mfg Hldgs Inc has elevated debt relative to equity (D/E of 6.38), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 9/100, reflecting increased financial risk.
With a current ratio of 2.95, American Axle & Mfg Hldgs Inc holds $2.95 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 76/100.
American Axle & Mfg Hldgs Inc has a free cash flow margin of 2.7%, earning a moderate score of 40/100. The company generates positive cash flow after capital investments, but with room for improvement.
American Axle & Mfg Hldgs Inc's ROE of -3.1% shows moderate profitability relative to equity, earning a score of 52/100. This is down from 6.2% the prior year.
American Axle & Mfg Hldgs Inc scores 1.52, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
American Axle & Mfg Hldgs Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, American Axle & Mfg Hldgs Inc generates $-20.89 in operating cash flow ($411.6M OCF vs -$19.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
American Axle & Mfg Hldgs Inc earns $0.6 in operating income for every $1 of interest expense ($112.3M vs $201.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
American Axle & Mfg Hldgs Inc generated $5.8B in revenue in fiscal year 2025. This represents a decrease of 4.7% from the prior year.
American Axle & Mfg Hldgs Inc's EBITDA was $571.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 19.6% from the prior year.
American Axle & Mfg Hldgs Inc reported -$19.7M in net income in fiscal year 2025. This represents a decrease of 156.3% from the prior year.
American Axle & Mfg Hldgs Inc earned $-0.17 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 158.6% from the prior year.
Cash & Balance Sheet
American Axle & Mfg Hldgs Inc generated $155.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 25.2% from the prior year.
American Axle & Mfg Hldgs Inc held $708.9M in cash against $4.1B in long-term debt as of fiscal year 2025.
American Axle & Mfg Hldgs Inc had 236M shares outstanding in fiscal year 2025. This represents an increase of 100.7% from the prior year.
Margins & Returns
American Axle & Mfg Hldgs Inc's gross margin was 12.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.0 percentage points from the prior year.
American Axle & Mfg Hldgs Inc's operating margin was 1.9% in fiscal year 2025, reflecting core business profitability. This is down 2.0 percentage points from the prior year.
American Axle & Mfg Hldgs Inc's net profit margin was -0.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.9 percentage points from the prior year.
American Axle & Mfg Hldgs Inc's ROE was -3.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 9.3 percentage points from the prior year.
Capital Allocation
American Axle & Mfg Hldgs Inc invested $147.0M in research and development in fiscal year 2025. This represents a decrease of 7.5% from the prior year.
American Axle & Mfg Hldgs Inc spent $2.8M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 0.0% from the prior year.
American Axle & Mfg Hldgs Inc invested $256.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 3.4% from the prior year.
AXL Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.4B+71.9% | $1.4B-8.1% | $1.5B-2.0% | $1.5B+8.8% | $1.4B+2.2% | $1.4B-8.2% | $1.5B-7.8% | $1.6B |
| Cost of Revenue | $2.2B+73.3% | $1.2B-5.6% | $1.3B-1.4% | $1.3B+7.9% | $1.2B+0.9% | $1.2B-8.0% | $1.3B-5.8% | $1.4B |
| Gross Profit | $225.4M+60.0% | $140.9M-25.4% | $189.0M-5.8% | $200.7M+15.4% | $173.9M+12.7% | $154.3M-9.9% | $171.3M-21.2% | $217.3M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $137.3M+39.4% | $98.5M-0.3% | $98.8M-2.0% | $100.8M+10.9% | $90.9M+2.1% | $89.0M-5.9% | $94.6M-10.1% | $105.2M |
| Operating Income | -$33.7M+0.3% | -$33.8M-169.8% | $48.4M-12.0% | $55.0M+28.8% | $42.7M+18.0% | $36.2M-13.2% | $41.7M-51.8% | $86.5M |
| Interest Expense | $89.6M+23.8% | $72.4M+69.6% | $42.7M-0.9% | $43.1M+0.5% | $42.9M-2.3% | $43.9M-2.9% | $45.2M-5.6% | $47.9M |
| Income Tax | -$19.6M-96.0% | -$10.0M+8.3% | -$10.9M-138.8% | $28.1M+100.7% | $14.0M+105.9% | $6.8M+156.2% | -$12.1M-170.3% | $17.2M |
| Net Income | -$100.3M-33.2% | -$75.3M-918.5% | $9.2M-76.6% | $39.3M+453.5% | $7.1M+151.8% | -$13.7M-237.0% | $10.0M-45.1% | $18.2M |
| EPS (Diluted) | $-0.52 | N/A | $0.07-78.1% | $0.32+433.3% | $0.06 | N/A | $0.08-46.7% | $0.15 |
AXL Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $11.3B+69.0% | $6.7B+24.8% | $5.3B+1.3% | $5.3B+2.6% | $5.1B+1.6% | $5.1B-5.0% | $5.3B-0.2% | $5.3B |
| Current Assets | $3.9B+7.1% | $3.6B+61.4% | $2.3B+3.7% | $2.2B+6.8% | $2.0B+6.2% | $1.9B-10.3% | $2.1B+1.4% | $2.1B |
| Cash & Equivalents | $1.0B+42.2% | $708.9M-0.7% | $714.1M+21.8% | $586.5M+6.8% | $549.2M-0.7% | $552.9M+1.9% | $542.5M+4.3% | $519.9M |
| Inventory | $1.0B+115.3% | $466.4M+5.4% | $442.4M-1.5% | $449.1M+3.4% | $434.3M-1.9% | $442.5M-5.0% | $465.6M-0.8% | $469.2M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $648.8M+272.0% | $174.4M-0.1% | $174.5M-0.2% | $174.8M+1.2% | $172.8M+0.5% | $172.0M-1.2% | $174.1M-3.9% | $181.2M |
| Total Liabilities | $9.8B+62.0% | $6.0B+30.4% | $4.6B+0.5% | $4.6B+1.3% | $4.5B+1.0% | $4.5B-4.6% | $4.7B-0.3% | $4.7B |
| Current Liabilities | $2.8B+125.9% | $1.2B-2.8% | $1.3B+3.4% | $1.2B+3.7% | $1.2B+0.8% | $1.2B-9.2% | $1.3B+3.1% | $1.3B |
| Long-Term Debt | $5.3B+28.7% | $4.1B+55.1% | $2.6B-0.1% | $2.6B-0.4% | $2.6B+1.3% | $2.6B-2.4% | $2.7B-2.2% | $2.7B |
| Total Equity | $1.5B+134.1% | $640.0M-10.9% | $718.4M+6.7% | $673.0M+12.9% | $596.3M+6.0% | $562.8M-8.7% | $616.3M+1.1% | $609.6M |
| Retained Earnings | -$368.2M-37.4% | -$267.9M-39.1% | -$192.6M+4.6% | -$201.8M+16.3% | -$241.1M+2.9% | -$248.2M-5.8% | -$234.5M+4.1% | -$244.5M |
AXL Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$64.4M-153.4% | $120.5M-15.9% | $143.3M+55.9% | $91.9M+64.4% | $55.9M-63.0% | $151.2M+5.3% | $143.6M+0.6% | $142.8M |
| Capital Expenditures | $103.6M+57.4% | $65.8M+2.7% | $64.1M+11.9% | $57.3M-17.3% | $69.3M-11.2% | $78.0M+6.6% | $73.2M+50.0% | $48.8M |
| Free Cash Flow | -$168.0M-407.1% | $54.7M-30.9% | $79.2M+128.9% | $34.6M+358.2% | -$13.4M-118.3% | $73.2M+4.0% | $70.4M-25.1% | $94.0M |
| Investing Cash Flow | -$347.5M-466.9% | -$61.3M-532.0% | -$9.7M+83.4% | -$58.4M-45.3% | -$40.2M+50.1% | -$80.6M-1.6% | -$79.3M-69.8% | -$46.7M |
| Financing Cash Flow | -$775.5M-154.2% | $1.4B+26118.2% | -$5.5M+8.3% | -$6.0M+75.0% | -$24.0M+52.2% | -$50.2M-5.7% | -$47.5M-11.8% | -$42.5M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $6.2M+6100.0% | $100K | $0 | $0-100.0% | $2.7M | $0 | $0-100.0% | $100K |
AXL Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.5%-0.7pp | 10.2%-2.4pp | 12.6%-0.5pp | 13.1%+0.7pp | 12.3%+1.2pp | 11.2%-0.2pp | 11.4%-1.9pp | 13.3% |
| Operating Margin | -1.4%+1.0pp | -2.4%-5.7pp | 3.2%-0.4pp | 3.6%+0.5pp | 3.0%+0.4pp | 2.6%-0.1pp | 2.8%-2.5pp | 5.3% |
| Net Margin | -4.2%+1.2pp | -5.4%-6.0pp | 0.6%-1.9pp | 2.6%+2.1pp | 0.5%+1.5pp | -1.0%-1.7pp | 0.7%-0.5pp | 1.1% |
| Return on Equity | -6.7%+5.1pp | -11.8%-13.0pp | 1.3%-4.6pp | 5.8%+4.7pp | 1.2%+3.6pp | -2.4%-4.1pp | 1.6%-1.4pp | 3.0% |
| Return on Assets | -0.9%+0.2pp | -1.1%-1.3pp | 0.2%-0.6pp | 0.8%+0.6pp | 0.1%+0.4pp | -0.3%-0.5pp | 0.2%-0.1pp | 0.3% |
| Current Ratio | 1.40-1.5 | 2.95+1.2 | 1.770.0 | 1.77+0.1 | 1.72+0.1 | 1.63-0.0 | 1.65-0.0 | 1.68 |
| Debt-to-Equity | 3.51-2.9 | 6.38+2.7 | 3.66-0.2 | 3.91-0.5 | 4.44-0.2 | 4.64+0.3 | 4.34-0.1 | 4.49 |
| FCF Margin | -7.1%-11.0pp | 4.0%-1.3pp | 5.3%+3.0pp | 2.3%+3.2pp | -0.9%-6.3pp | 5.3%+0.6pp | 4.7%-1.1pp | 5.8% |
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Frequently Asked Questions
What is American Axle & Mfg Hldgs Inc's annual revenue?
American Axle & Mfg Hldgs Inc (AXL) reported $5.8B in total revenue for fiscal year 2025. This represents a -4.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is American Axle & Mfg Hldgs Inc's revenue growing?
American Axle & Mfg Hldgs Inc (AXL) revenue declined by 4.7% year-over-year, from $6.1B to $5.8B in fiscal year 2025.
Is American Axle & Mfg Hldgs Inc profitable?
No, American Axle & Mfg Hldgs Inc (AXL) reported a net income of -$19.7M in fiscal year 2025, with a net profit margin of -0.3%.
What is American Axle & Mfg Hldgs Inc's EBITDA?
American Axle & Mfg Hldgs Inc (AXL) had EBITDA of $571.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does American Axle & Mfg Hldgs Inc have?
As of fiscal year 2025, American Axle & Mfg Hldgs Inc (AXL) had $708.9M in cash and equivalents against $4.1B in long-term debt.
What is American Axle & Mfg Hldgs Inc's gross margin?
American Axle & Mfg Hldgs Inc (AXL) had a gross margin of 12.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is American Axle & Mfg Hldgs Inc's operating margin?
American Axle & Mfg Hldgs Inc (AXL) had an operating margin of 1.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is American Axle & Mfg Hldgs Inc's net profit margin?
American Axle & Mfg Hldgs Inc (AXL) had a net profit margin of -0.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is American Axle & Mfg Hldgs Inc's return on equity (ROE)?
American Axle & Mfg Hldgs Inc (AXL) has a return on equity of -3.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is American Axle & Mfg Hldgs Inc's free cash flow?
American Axle & Mfg Hldgs Inc (AXL) generated $155.1M in free cash flow during fiscal year 2025. This represents a -25.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is American Axle & Mfg Hldgs Inc's operating cash flow?
American Axle & Mfg Hldgs Inc (AXL) generated $411.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are American Axle & Mfg Hldgs Inc's total assets?
American Axle & Mfg Hldgs Inc (AXL) had $6.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What are American Axle & Mfg Hldgs Inc's capital expenditures?
American Axle & Mfg Hldgs Inc (AXL) invested $256.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does American Axle & Mfg Hldgs Inc spend on research and development?
American Axle & Mfg Hldgs Inc (AXL) invested $147.0M in research and development during fiscal year 2025.
What is American Axle & Mfg Hldgs Inc's current ratio?
American Axle & Mfg Hldgs Inc (AXL) had a current ratio of 2.95 as of fiscal year 2025, which is generally considered healthy.
What is American Axle & Mfg Hldgs Inc's debt-to-equity ratio?
American Axle & Mfg Hldgs Inc (AXL) had a debt-to-equity ratio of 6.38 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is American Axle & Mfg Hldgs Inc's return on assets (ROA)?
American Axle & Mfg Hldgs Inc (AXL) had a return on assets of -0.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is American Axle & Mfg Hldgs Inc's Altman Z-Score?
American Axle & Mfg Hldgs Inc (AXL) has an Altman Z-Score of 1.52, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is American Axle & Mfg Hldgs Inc's Piotroski F-Score?
American Axle & Mfg Hldgs Inc (AXL) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are American Axle & Mfg Hldgs Inc's earnings high quality?
American Axle & Mfg Hldgs Inc (AXL) has an earnings quality ratio of -20.89x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can American Axle & Mfg Hldgs Inc cover its interest payments?
American Axle & Mfg Hldgs Inc (AXL) has an interest coverage ratio of 0.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is American Axle & Mfg Hldgs Inc?
American Axle & Mfg Hldgs Inc (AXL) scores 42 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.