Autoliv reported 2025 sales of $10.815 billion with adjusted operating income of $1.114 billion, representing a 10.3% margin compared to 9.7% in 2024. The company's organic sales growth to Chinese OEMs was close to 40%, with continued strong sales performance expected in 2026.
Cyborg Score Rationale
Operating income exceeded $1 billion for the first time in 2025, earnings per share rose above $9 and the company paid more than $3 per share in dividends. The company has a clear path towards a 12% adjusted operating margin target with strong positioning in high-growth Asian markets, though 2026 guidance assumes flat organic growth at around 0% amid challenging market conditions.
Top Insights
Autoliv developed the world's first foldable steering wheel for autonomous driving in partnership with Tensor for their Robocar expected to enter volume production in late 2026.
Order intake with Chinese OEMs accounted for over 30% of Autoliv's global order intake in 2025, including the company's first order with a Chinese OEM for vehicle production in Europe.
Autoliv recovered close to 100% of tariff costs in Q4 2025 and more than 80% for the full year, demonstrating strong pricing power.
The leverage ratio improved to 1.1x, well below the company's target limit of 1.5x, enabling continued capital allocation flexibility.
Named Competitors
Joyson Safety Systems — Global automotive safety supplier
Hyundai Mobis — Korean automotive parts and safety supplier
ZF Friedrichshafen — Diversified mobility technology company with safety systems
Recent Developments
(Jan 2026) Net sales increased organically by 4.2% in Q4 2025, exceeding global light vehicle production growth of 1.3%, driven mainly by new product launches.
(Jan 2026) Operating income exceeded $1 billion for the first time in 2025, marking a significant profitability milestone.
(Jan 2026) Autoliv expanded into advanced automotive safety electronics and signed a strategic agreement with CATARC (China Automotive Technology and Research Center).
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