# Lear Corporation (LEA)

> Source: Nexqual · https://nexqual.com/LEA · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Lear Corporation (LEA), nexqual.com/LEA" · informational, not investment advice.

**Price:** USD 118.61 (+0.61% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 117.89 · day 116–118.61 · 52w 99–150.33 · market cap $5.85B · NYQ

## Key facts
- Last four reported quarters (through Jul 4, 2026): revenue $23.7B, net income $556M (2.3% margin), free cash flow $849M (SEC filings).
- Valuation: P/E 10.5x (avg 13.1x at the last 3 fiscal year-ends), EV/EBITDA 5.2x, net debt $1.74B.
- 3 of 80 tracked superinvestors hold LEA (13F, Q2 2026): 0 new, 0 added, 3 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 6 Form 4 filings, $9.4M; 5 not under a Rule 10b5-1 plan ($8.1M); 4 by opportunistic insiders (3 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.63 on a 1–5 scale) (16 analysts), mean target USD 146.36 (range 122–179).
- Total return with dividends: 1Y +20.7% vs S&P 500 +14.9%; 5Y -20.9% vs S&P 500 +80.3%.
- Next earnings: 2026-10-30, EPS estimate USD 3.32, revenue estimate $5.81B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $19.3B | $20.9B | $23.5B | $23.3B | $23.3B | $23.7B |
| Gross profit | $1.39B | $1.41B | $1.71B | $1.64B | $1.50B | — |
| Operating income | $675M | $654M | $933M | $888M | $777M | $871M |
| Net income | $374M | $328M | $573M | $507M | $437M | $556M |
| EPS (diluted) | $6.19 | $5.47 | $9.68 | $8.97 | $8.15 | — |
| Free cash flow | $85.0M | $383M | $623M | $561M | $527M | $849M |
| Gross margin | 7.2% | 6.7% | 7.3% | 7.0% | 6.5% | — |
| Operating margin | 3.5% | 3.1% | 4.0% | 3.8% | 3.3% | 3.7% |
| Net margin | 1.9% | 1.6% | 2.4% | 2.2% | 1.9% | 2.3% |
| Revenue growth | +13.0% | +8.5% | +12.3% | -0.7% | -0.2% | — |
| Cash + short-term investments | $1.32B | $1.12B | — | — | $1.03B | — |
| Total debt | $2.60B | $2.60B | $2.77B | $2.76B | $2.74B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 4, 2026)
P/E 10.5x · P/S 0.3x · EV/EBITDA 5.2x · EV/Sales 0.3x · P/FCF 6.9x · P/B 1.1x · FCF yield 14.52% · Earnings yield 9.50% · Dividend yield (paid, TTM) 2.76% · Buyback yield (TTM) 7.74% · Net debt $1.74B · EV $7.59B
P/E at fiscal year-ends: Dec 2025 14.1x, Dec 2024 10.6x, Dec 2023 14.6x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold LEA. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Richard Pzena | Pzena Investment Management | 2.61% | $890M | Reduced -1.8% |
| Greenhaven Associates |  | 2.25% | $195M | Reduced -14.2% |
| Bill Nygren | Oakmark Funds | <0.01% | $1.5M | Reduced -4.2% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
1 of 6 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-06 | Mallett Conrad L Jr | Director | 1,646 | $200K | 97.8% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-24 | Scott Raymond E | President and CEO | 50,000 | $6.8M | 50.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-10 | Mallett Conrad L Jr | Director | 190 | $27K | 10.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-02 | Orsini Frank C | EVP and President, Seating | 5,000 | $743K | 29.8% | No | Too little history (no open-market trades in 2024) |
| 2026-06-01…2026-06-02 | Cardew Jason M | SVP and CFO | 9,500 | $1.4M | 41.8% | Yes (adopted March 2, 2026) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-22 | Roelli Nicholas Jon | SVP and President, E-Systems | 2,336 | $330K | 50% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.63 on a 1–5 scale), 16 analysts; mean target USD 146.36 (low 122, high 179).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | RBC Capital | Target lowered | Sector Perform | $143 → $139 |
| 2026-10-09 | Barclays | Target lowered | Equal-Weight | $155 → $145 |
| 2026-10-07 | UBS | Target lowered | Neutral | $141 → $132 |
| 2026-10-06 | Goldman Sachs | Target lowered | Neutral | $140 → $124 |
| 2026-09-15 | JP Morgan | Downgrade | Overweight → Neutral | $175 → $150 |
| 2026-08-03 | Wells Fargo | Target raised | Equal-Weight | $137 → $138 |
| 2026-07-13 | RBC Capital | Target raised | Sector Perform | $138 → $143 |
| 2026-07-10 | JP Morgan | Target raised | Overweight | $153 → $159 |
| 2026-07-09 | Barclays | Target raised | Equal-Weight | $150 → $155 |
| 2026-06-25 | Wells Fargo | Target raised | Equal-Weight | $133 → $137 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +20.7% | -20.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +20.8% | -4.6% |
| Volatility (annualized) | 34.4% | 30.6% |
| Max drawdown | -20.6% (Jul 2026→Oct 2026) | -56.2% (Jan 2022→Apr 2025) |

## Peers (Auto Parts)
MBLY (Mobileye Global Inc.) USD 6.95 -1.00% · LKQ (LKQ Corporation) USD 22.47 +5.10% · GTX (Garrett Motion Inc.) USD 22 -8.07% · GNTX (Gentex Corporation) USD 21.74 +3.52% · MOD (Modine Manufacturing Company) USD 135.17 -9.75% · ALV (Autoliv, Inc.) USD 118.88 +2.54%

## More
Full page: https://nexqual.com/LEA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name LEA in their own reports (relationship from LEA's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | VinFast Auto Ltd. (VFS) | 20-F 2026-04-30 | "There are a number of key suppliers on-site in Hai Phong, including Lear Corporation and Grupo Antolin." |
| supplier | Gentherm Inc (THRM) | 10-K 2026-02-19 | "For 2025, our revenues from sales to our two largest customers, Lear Corporation ("Lear") and Adient plc ("Adient") were $234 million and $164 million, respectively, representing 16% and 11% of our pr…" |
| partner | INNO HOLDINGS INC. (INHD) | 10-K 2025-12-15 | "August 6, 2025, Lear Group Limited, the subsidiary of the Company, entered into an equity investment agreement with Flower Mouse Network" |

## Revenue by business segment (quarter ended 2026-07-04)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Seating | $4.62B | 74.5% | +3.4% | $286.2M | 6.2% |
| E-Systems | $1.59B | 25.5% | +1.9% | $85.1M | 5.4% |
| Total revenue | $6.21B | 100% | — | $267.9M | 4.3% |

## Revenue by region (quarter ended 2026-07-04)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| North America | $2.50B | 40.2% | -0.8% |
| Europe and Africa | $2.33B | 37.5% | +7.5% |
| Asia | $1.13B | 18.1% | -1.7% |
| South America | $259.2M | 4.2% | +27.5% |
| Total revenue | $6.21B | 100% | — |

## Company outlook (8-K filed 2026-07-31)

- "SOUTHFIELD, Mich., July 31, 2026 -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today reported results for the second quarter 2026 and raised the midpoints of its financial outlook for the full year 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $3.32 | $3.48 | -4.7% | $5.81B | 13 |
| Next quarter (ends 2026-12-31) | $3.50 | $3.62 | -3.5% | $5.94B | 12 |
| Current fiscal year (ends 2026-12-31) | $14.98 | $14.92 | +0.4% | $23.79B | 15 |
| Next fiscal year (ends 2027-12-31) | $16.68 | $17.44 | -4.4% | $24.03B | 15 |