Customer concentration
A significant portion of sales comes from a small number of major OEMs.
- Scope
- General Motors, Ford and Stellantis
- Materiality
- high
STRATTEC SECURITY CORPORATION
STRATTEC SECURITY CORP designs and manufactures highly engineered automotive access and security products for vehicle makers and related channels. The company is headquartered in Milwaukee, Wisconsin and operates manufacturing facilities in the United States and Mexico, serving OEM and aftermarket customers globally.
7,2 %
16,5 %
3,6 %
+2,5 %
2.90
2.27
| % | |
|---|---|
| Security and authorization products | 45% Locks, keys, fobs, digital key and entry/start authorization systems. |
| Vehicle access systems | 30% Door handles, latches, power access and related access hardware. |
| Ignition and steering column components | 15% Ignition lock housings and related steering column security parts. |
| Aftermarket and service channel products | 10% Replacement and service-channel sales of access and security parts. |
The company sells primarily to automotive and light truck OEMs, with additional sales to other transportation OEMs,...
- North American automotive OEMsprimary
Buy locks, keys, fobs, latches and access systems for vehicle platforms; core demand driver.
- Major OEM accountsprimary
General Motors, Ford and Stellantis source model-specific products across multiple programs.
- Tier 1 supplierssecondary
Purchase selected components or assemblies tied to OEM platform requirements.
- Aftermarket and OEM service channelssecondary
Buy replacement and service parts such as keys, locks and fobs.
- Other transportation OEMsemerging
Buy customized access and security products outside the core light-vehicle base.
STRATTEC is headquartered in Milwaukee, Wisconsin and manufactures substantially all of its products in the United...
- •Headquartered in Milwaukee, Wisconsin
- •Manufacturing and assembly in the United States and Mexico
- •Three production facilities in Juarez, Mexico
- •Leon, Mexico facility supports molding, painting and assembly
- •North American OEM demand is the main end-market exposure
The company is focused on business transformation, using upgraded systems, modernized support functions and...
01
Operational transformationmedium-term
Better systems and manufacturing discipline should improve execution and cost structure.
02
Organic growth with OEMsmedium-term
More content per platform and new program wins deepen customer relationships and revenue visibility.
03
Broaden end-market exposurelong-term
Expanding beyond core automotive programs can diversify demand over time.
The business is exposed to OEM production volatility, especially because a large share of sales is concentrated with a...
OEM production volatility
Products are tied to specific vehicle platforms and production volumes.
- Scope
- North American light vehicle programs
- Materiality
- high
Cross-border trade and tariffs
The company imports and exports parts across the U.S., Mexico and other markets.
- Scope
- United States, Mexico, Canada, China, Europe
- Materiality
- high
Foreign exchange and labor inflation
Mexican operations expose the company to peso moves and wage inflation.
- Scope
- Mexico operations
- Materiality
- medium
Warranty and product quality claims
Claims depend on platform content, volumes and customer negotiations.
- Scope
- Vehicle access and security products
- Materiality
- medium
Cybersecurity and IT disruption
Manufacturing, order processing and customer data depend on secure systems.
- Scope
- Internal networks, cloud services and partner systems
- Materiality
- medium
Revenue recognition and variable consideration
Can shift revenue timing and reported margins
Warranty reserve
Can materially affect operating expense and liabilities
Unrecognized tax benefits
Can create uncertain future cash payments
Lease obligations
Affects lease liabilities and cash requirements
Post-employment benefit assumptions
Can change pension and termination benefit expense
: 29/04/2026