Commercial Veh Group Inc Financials

CVGI

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Commercial Veh Group Inc (CVGI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).

Key Financial Metrics

Revenue

$723.4M

YoY-13.4%

5Y CAGR-0.9%

10Y CAGR-1.7%

Commercial Veh Group Inc generated $723.4M in revenue in fiscal year 2024. This represents a decrease of 13.4% from the prior year.

EBITDA

$16.6M

YoY-71.1%

5Y CAGR-18.1%

10Y CAGR-11.8%

Commercial Veh Group Inc's EBITDA was $16.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 71.1% from the prior year.

Free Cash Flow

-$52.0M

YoY-379.7%

Commercial Veh Group Inc generated -$52.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 379.7% from the prior year.

Net Income

-$27.9M

YoY-156.4%

Commercial Veh Group Inc reported -$27.9M in net income in fiscal year 2024. This represents a decrease of 156.4% from the prior year.

EPS (Diluted)

$-1.07

YoY-182.3%

Commercial Veh Group Inc earned $-1.07 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 182.3% from the prior year.

Cash & Debt

$26.6M

YoY-29.6%

5Y CAGR-12.6%

10Y CAGR-9.0%

Commercial Veh Group Inc held $26.6M in cash against $127.1M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

34M

YoY+1.1%

5Y CAGR+2.2%

10Y CAGR+1.7%

Commercial Veh Group Inc had 34M shares outstanding in fiscal year 2024. This represents an increase of 1.1% from the prior year.

Gross Margin

10.1%

YoY-4.4pp

5Y CAGR-1.9pp

10Y CAGR-3.5pp

Commercial Veh Group Inc's gross margin was 10.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 4.4 percentage points from the prior year.

Operating Margin

-0.1%

YoY-4.9pp

5Y CAGR-4.1pp

10Y CAGR-5.2pp

Commercial Veh Group Inc's operating margin was -0.1% in fiscal year 2024, reflecting core business profitability. This is down 4.9 percentage points from the prior year.

Net Margin

-3.9%

YoY-9.8pp

5Y CAGR-3.5pp

10Y CAGR-9.7pp

Commercial Veh Group Inc's net profit margin was -3.9% in fiscal year 2024, showing the share of revenue converted to profit. This is down 9.8 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$18.5M

YoY-6.0%

5Y CAGR+6.6%

10Y CAGR+0.7%

Commercial Veh Group Inc invested $18.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 6.0% from the prior year.

CVGI Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$723.4M-13.4%	$835.5M+6.8%	$782.6M-13.2%	$901.2M+0.4%	$897.7M+18.9%	$755.2M
Cost of Revenue	$650.2M-9.0%	$714.4M+2.4%	$697.6M-12.4%	$796.1M+3.0%	$772.8M+16.3%	$664.4M
Gross Profit	$73.1M-39.6%	$121.1M+42.4%	$85.0M-19.1%	$105.1M-15.8%	$124.9M+37.5%	$90.9M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$73.9M-9.0%	$81.2M+34.9%	$60.2M-6.7%	$64.5M+6.3%	$60.7M+1.9%	$59.5M
Operating Income	-$758K-101.9%	$39.9M+60.6%	$24.8M-38.9%	$40.6M-35.4%	$62.9M+109.8%	$30.0M
Interest Expense	$9.2M-10.5%	$10.2M+11.9%	$9.2M-45.7%	$16.9M+14.8%	$14.7M-23.4%	$19.1M
Income Tax	$27.5M+280.8%	-$15.2M-172.7%	$20.9M+261.8%	$5.8M-28.6%	$8.1M-46.3%	$15.1M
Net Income	-$27.9M-156.4%	$49.4M+324.9%	-$22.0M-239.3%	$15.8M-62.0%	$41.5M+1928.5%	-$2.3M
EPS (Diluted)	$-1.07-182.3%	$1.30+354.9%	$-0.51-200.0%	$0.51-62.5%	$1.36+1800.0%	$-0.08

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q3'23
Revenue	$152.5M-11.3%	$172.0M+1.3%	$169.8M+57.7%	$107.7M-46.9%	$202.9M-22.6%	$262.2M-0.2%	$262.7M+4.5%	$251.4M
Cost of Revenue	$136.4M-10.5%	$152.4M+0.3%	$152.0M+69.8%	$89.5M-48.4%	$173.6M-22.4%	$223.8M-1.6%	$227.5M+1.3%	$224.6M
Gross Profit	$16.0M-17.9%	$19.5M+9.8%	$17.8M-2.1%	$18.2M-38.0%	$29.3M-23.7%	$38.4M+9.1%	$35.2M+31.2%	$26.8M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$17.1M-8.7%	$18.7M+14.3%	$16.4M-8.0%	$17.8M-12.7%	$20.4M-9.2%	$22.5M+9.2%	$20.6M+18.8%	$17.3M
Operating Income	-$1.1M-233.1%	$797K-43.4%	$1.4M+285.8%	$365K-95.9%	$8.9M-44.1%	$15.9M+8.9%	$14.6M+53.5%	$9.5M
Interest Expense	$4.1M+77.6%	$2.3M-8.5%	$2.5M+21.2%	$2.1M-17.0%	$2.5M-11.2%	$2.8M-3.0%	$2.9M+2.7%	$2.8M
Income Tax	$687K-60.2%	$1.7M-18.5%	$2.1M+109.4%	-$22.5M-1747.3%	$1.4M-49.2%	$2.7M-17.3%	$3.3M+160.5%	$1.3M
Net Income	-$7.1M-48.7%	-$4.8M-10.4%	-$4.3M-118.5%	$23.3M+219.4%	$7.3M-28.1%	$10.1M+16.6%	$8.7M+145.0%	$3.6M
EPS (Diluted)	$-0.20-66.7%	$-0.12-33.3%	$-0.09-115.0%	$0.60+328.6%	$0.14-53.3%	$0.30+15.4%	$0.26+136.4%	$0.11

CVGI Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$424.6M-12.1%	$483.2M+2.8%	$470.3M+7.9%	$435.8M+5.6%	$412.7M+7.4%	$384.4M
Current Assets	$303.3M-7.5%	$327.7M-3.5%	$339.6M+32.7%	$256.0M-17.2%	$309.3M+12.6%	$274.6M
Cash & Equivalents	$26.6M-29.6%	$37.8M+18.9%	$31.8M-19.5%	$39.5M-44.3%	$70.9M+35.7%	$52.2M
Inventory	$128.2M+9.3%	$117.3M-17.7%	$142.5M+72.0%	$82.9M-10.3%	$92.4M-6.7%	$99.0M
Accounts Receivable	$118.7M-8.2%	$129.3M-15.3%	$152.6M+32.6%	$115.1M-14.1%	$133.9M+23.3%	$108.6M
Goodwill	N/A	N/A	$0-100.0%	$27.8M+267.2%	$7.6M-5.8%	$8.0M
Total Liabilities	$289.0M-6.9%	$310.3M-11.4%	$350.2M+14.0%	$307.1M+1.3%	$303.1M-2.1%	$309.6M
Current Liabilities	$125.8M-13.4%	$145.2M-17.4%	$175.8M+64.9%	$106.6M-19.7%	$132.7M+7.3%	$123.7M
Long-Term Debt	$127.1M+0.7%	$126.2M-10.8%	$141.5M-7.6%	$153.1M-1.0%	$154.7M-5.6%	$163.8M
Total Equity	$135.6M-21.6%	$172.9M+44.1%	$120.0M-6.7%	$128.7M+17.4%	$109.6M+51.5%	$72.3M
Retained Earnings	-$74.1M-60.3%	-$46.2M+51.7%	-$95.6M-58.5%	-$60.3M+20.7%	-$76.0M+33.9%	-$115.1M

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q3'23
Total Assets	$400.3M-6.9%	$429.8M+2.4%	$419.8M-13.1%	$483.2M-2.6%	$496.0M-0.9%	$500.5M+0.5%	$497.8M-4.5%	$521.5M
Current Assets	$276.0M-8.9%	$303.0M+3.3%	$293.5M-10.5%	$327.7M-10.0%	$364.2M-1.5%	$369.8M-0.9%	$373.0M-2.7%	$383.2M
Cash & Equivalents	$31.3M-30.8%	$45.3M+124.1%	$20.2M-46.6%	$37.8M-18.2%	$46.3M+9.1%	$42.4M+2.3%	$41.5M+7.2%	$38.7M
Inventory	$123.1M+5.5%	$116.7M-5.2%	$123.1M+5.0%	$117.3M-8.5%	$128.2M-2.7%	$131.7M-5.6%	$139.6M-7.2%	$150.3M
Accounts Receivable	$90.6M-15.6%	$107.4M-10.1%	$119.5M-7.6%	$129.3M-19.1%	$159.9M-7.8%	$173.5M+0.9%	$171.9M-3.6%	$178.3M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$263.7M-8.2%	$287.2M+1.4%	$283.2M-8.7%	$310.3M-11.2%	$349.5M-2.0%	$356.7M-2.0%	$364.1M-5.6%	$385.7M
Current Liabilities	$112.4M-10.6%	$125.7M-9.3%	$138.6M-4.5%	$145.2M-17.7%	$176.4M-1.0%	$178.3M-2.5%	$182.8M+1.8%	$179.6M
Long-Term Debt	$107.3M-8.5%	$117.2M+13.2%	$103.5M-18.0%	$126.2M-6.9%	$135.6M-5.8%	$143.9M-3.5%	$149.2M-14.5%	$174.5M
Total Equity	$136.5M-4.3%	$142.6M+4.4%	$136.7M-21.0%	$172.9M+18.0%	$146.6M+1.9%	$143.8M+7.5%	$133.8M-1.5%	$135.8M
Retained Earnings	-$90.2M-8.5%	-$83.1M-6.1%	-$78.4M-69.7%	-$46.2M+33.5%	-$69.5M+9.5%	-$76.8M+11.7%	-$86.9M-36.6%	-$63.6M

CVGI Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$33.5M-187.4%	$38.3M-44.5%	$68.9M+87.6%	$36.7M-10.4%	$41.0M+1716.2%	$2.3M
Capital Expenditures	$18.5M-6.0%	$19.7M-0.1%	$19.7M-17.9%	$24.0M+69.6%	$14.2M+5.1%	$13.5M
Free Cash Flow	-$52.0M-379.7%	$18.6M-62.3%	$49.2M+286.4%	$12.7M-52.5%	$26.8M+339.6%	-$11.2M
Investing Cash Flow	$30.9M+256.9%	-$19.7M+0.1%	-$19.7M+66.0%	-$58.0M-311.2%	-$14.1M-30.9%	-$10.8M
Financing Cash Flow	-$7.1M+44.0%	-$12.7M+74.6%	-$50.1M-395.3%	-$10.1M-73.3%	-$5.8M+92.0%	-$72.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q3'23
Operating Cash Flow	N/A	N/A	$15.2M	N/A	N/A	N/A	$58K	N/A
Capital Expenditures	N/A	N/A	$3.8M	N/A	N/A	N/A	$3.3M	N/A
Free Cash Flow	N/A	N/A	$11.4M	N/A	N/A	N/A	-$3.3M	N/A
Investing Cash Flow	N/A	N/A	-$3.8M	N/A	N/A	N/A	-$3.3M	N/A
Financing Cash Flow	N/A	N/A	-$18.1M	N/A	N/A	N/A	$12.4M	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CVGI Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	10.1%-4.4pp	14.5%+3.6pp	10.9%-0.8pp	11.7%-2.2pp	13.9%+1.9pp	12.0%
Operating Margin	-0.1%-4.9pp	4.8%+1.6pp	3.2%-1.3pp	4.5%-2.5pp	7.0%+3.0pp	4.0%
Net Margin	-3.9%-9.8pp	5.9%+8.7pp	-2.8%-4.6pp	1.8%-2.9pp	4.6%+4.9pp	-0.3%
Return on Equity	N/A	28.6%	N/A	12.3%-25.6pp	37.9%	N/A
Return on Assets	-6.6%-16.8pp	10.2%+14.9pp	-4.7%-8.3pp	3.6%-6.4pp	10.1%+10.6pp	-0.6%
Current Ratio	2.41+0.2	2.26+0.3	1.93-0.5	2.40+0.1	2.33+0.1	2.22
Debt-to-Equity	0.94+0.2	0.73-0.4	1.18-0.0	1.19-0.2	1.41-0.9	2.26
FCF Margin	-7.2%-9.4pp	2.2%-4.1pp	6.3%+4.9pp	1.4%-1.6pp	3.0%+4.5pp	-1.5%

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q3'23
Gross Margin	10.5%-0.8pp	11.4%+0.9pp	10.5%-6.4pp	16.9%+2.4pp	14.4%-0.2pp	14.6%+1.2pp	13.4%+2.7pp	10.7%
Operating Margin	-0.7%-1.2pp	0.5%-0.4pp	0.8%+0.5pp	0.3%-4.1pp	4.4%-1.7pp	6.1%+0.5pp	5.6%+1.8pp	3.8%
Net Margin	-4.6%-1.9pp	-2.8%-0.2pp	-2.5%-24.2pp	21.6%+18.0pp	3.6%-0.3pp	3.9%+0.6pp	3.3%+1.9pp	1.4%
Return on Equity	5.3%	N/A	1.7%-11.8pp	13.5%+8.5pp	5.0%-2.1pp	7.0%+0.5pp	6.5%+3.9pp	2.6%
Return on Assets	-1.8%-0.7pp	-1.1%-0.1pp	-1.0%-5.8pp	4.8%+3.4pp	1.5%-0.6pp	2.0%+0.3pp	1.8%+1.1pp	0.7%
Current Ratio	2.46+0.0	2.41+0.3	2.12-0.1	2.26+0.2	2.06-0.0	2.07+0.0	2.04-0.1	2.13
Debt-to-Equity	0.79-0.0	0.82+0.1	0.76+0.0	0.73-0.2	0.93-0.1	1.00-0.1	1.12-0.2	1.29
FCF Margin	N/A	N/A	6.7%	N/A	N/A	N/A	-1.2%	N/A

Financial Health Signals

Financial Profile 31/100

Profitability

Growth

Leverage

Liquidity

Cash Flow

Returns

N/A

Based on FY2024 annual data. Scores normalized against common benchmarks.

Piotroski F-Score Weak

1/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Low Quality

1.20x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

Interest Coverage At Risk

-0.1x

Operating income vs interest expense. Above 5x = safe, below 2x = risky.

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Frequently Asked Questions

What is Commercial Veh Group Inc's annual revenue?

Commercial Veh Group Inc (CVGI) reported $723.4M in total revenue for fiscal year 2024. This represents a -13.4% 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 Commercial Veh Group Inc's revenue growing?

Commercial Veh Group Inc (CVGI) revenue declined by 13.4% year-over-year, from $835.5M to $723.4M in fiscal year 2024.

Is Commercial Veh Group Inc profitable?

No, Commercial Veh Group Inc (CVGI) reported a net income of -$27.9M in fiscal year 2024, with a net profit margin of -3.9%.

What is Commercial Veh Group Inc's earnings per share (EPS)?

Commercial Veh Group Inc (CVGI) reported diluted earnings per share of $-1.07 for fiscal year 2024. This represents a -182.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Commercial Veh Group Inc's EBITDA?

Commercial Veh Group Inc (CVGI) had EBITDA of $16.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Commercial Veh Group Inc have?

As of fiscal year 2024, Commercial Veh Group Inc (CVGI) had $26.6M in cash and equivalents against $127.1M in long-term debt.

What is Commercial Veh Group Inc's gross margin?

Commercial Veh Group Inc (CVGI) had a gross margin of 10.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Commercial Veh Group Inc's operating margin?

Commercial Veh Group Inc (CVGI) had an operating margin of -0.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Commercial Veh Group Inc's net profit margin?

Commercial Veh Group Inc (CVGI) had a net profit margin of -3.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Commercial Veh Group Inc's free cash flow?

Commercial Veh Group Inc (CVGI) generated -$52.0M in free cash flow during fiscal year 2024. This represents a -379.7% 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 Commercial Veh Group Inc's operating cash flow?

Commercial Veh Group Inc (CVGI) generated -$33.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Commercial Veh Group Inc's total assets?

Commercial Veh Group Inc (CVGI) had $424.6M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Commercial Veh Group Inc's capital expenditures?

Commercial Veh Group Inc (CVGI) invested $18.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Commercial Veh Group Inc have outstanding?

Commercial Veh Group Inc (CVGI) had 34M shares outstanding as of fiscal year 2024.

What is Commercial Veh Group Inc's current ratio?

Commercial Veh Group Inc (CVGI) had a current ratio of 2.41 as of fiscal year 2024, which is generally considered healthy.

What is Commercial Veh Group Inc's debt-to-equity ratio?

Commercial Veh Group Inc (CVGI) had a debt-to-equity ratio of 0.94 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Commercial Veh Group Inc's return on assets (ROA)?

Commercial Veh Group Inc (CVGI) had a return on assets of -6.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Commercial Veh Group Inc's cash runway?

Based on fiscal year 2024 data, Commercial Veh Group Inc (CVGI) had $26.6M in cash against an annual operating cash burn of $33.5M. This gives an estimated cash runway of approximately 10 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Commercial Veh Group Inc's Piotroski F-Score?

Commercial Veh Group Inc (CVGI) has a Piotroski F-Score of 1 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 7–9 indicate strong and improving fundamentals.

Are Commercial Veh Group Inc's earnings high quality?

Commercial Veh Group Inc (CVGI) has an earnings quality ratio of 1.20x, considered low quality (accrual-driven). 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.

Can Commercial Veh Group Inc cover its interest payments?

Commercial Veh Group Inc (CVGI) has an interest coverage ratio of -0.1x, 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.

How financially healthy is Commercial Veh Group Inc?

Commercial Veh Group Inc (CVGI) scores 31 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks.