Q2 FY26 · Ended Jun 30, 2026 · View SEC filing
Connectors, not software, earn most of Aptiv's profit
Engineered Components brings in 55.0% of sales but most of the profit, so the connector franchise sets Aptiv's earning power.
For investorsWhat has to go right for the post-spin margin to hold?
For foundersHow small designed-in parts become durable profit
Sales rose 2.34% but costs grew more slowly, lifting operating margin to 11.2% in the first quarter after the spin-off.
Free cash flow was $33M, just 1.0% of sales, as receivables and inventories grew faster than the business turned profit into cash.
Net income attributable to Aptiv fell 36.9% as the spun-off wiring business left the books, yet continuing profit per share rose.
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Business Lens describes Aptiv from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
