Customer concentration
Top ten customers were about 62% of net sales and the largest customer about 12%.
- Scope
- Loss or delay of a major OEM program could materially reduce revenue and utilization.
- Materiality
- high
Garrett Motion Inc.
Garrett Motion Inc. designs and manufactures turbocharging, air and fluid compression, and high-speed electric motor technologies for vehicle and industrial customers. Its products help improve fuel economy, thermal management, and emissions performance in internal combustion, hybrid, hydrogen, and zero-emission applications.
20,4 %
8,6 %
+3,1 %
0.97
0.72
| % | |
|---|---|
| Turbocharging systems | 70% Mechanical and advanced turbochargers used in light vehicle, commercial vehicle, marine and industrial engines. |
| Aftermarket products | 12% Replacement turbo and related parts sold through independent distributors and dealer networks. |
| E-Boosting and E-Powertrain | 10% Electric boosting, traction and proof-of-concept electrification technologies for hybrids and zero-emission vehicles. |
| Fuel cell and air compression | 5% Air compression and refrigerant compression solutions for fuel cell systems, HVAC and data center cooling. |
| Other industrial technologies | 3% Specialty compression and high-speed motor technologies for industrial and mobility applications. |
Garrett sells primarily to OEMs in the mobility and industrial markets, with a meaningful aftermarket channel served...
- Light vehicle OEMsprimary
Automakers buy turbochargers and boosting systems for gasoline, diesel and hybrid platforms to meet emissions and efficiency targets.
- Commercial vehicle and off-highway OEMsprimary
Truck, bus, off-highway and industrial OEMs buy turbo and compression products for durability, efficiency and packaging advantages.
- Aftermarket distributors and dealerssecondary
Independent channels buy replacement turbo and related parts for repair and maintenance demand across the installed base.
- Zero-emission and fuel cell customersemerging
OEMs and system integrators buy fuel cell compressors, E-Cooling and E-Powertrain solutions for electrified applications.
Garrett's revenue is globally diversified, with Europe the largest region at 49% of 2025 revenue, followed by Asia at...
- •Europe is the largest revenue region and a key source of new program wins
- •Asia is a major market, including awards with leading Asian OEMs
- •The United States remains a meaningful market for light vehicle and industrial demand
- •Other International includes smaller markets and export activity
- •Regional mix matters because demand tracks vehicle production, emissions rules and macro conditions
Garrett is focused on extending its turbocharger leadership while expanding into electrification, thermal management...
01
Expand turbocharger franchiseshort-term
Turbochargers remain the core revenue base and a bridge to hybrid powertrains.
02
Scale zero-emission technologiesmedium-term
Electrification and fuel cell products diversify the business beyond ICE exposure.
03
Increase RD&E in electric compressionmedium-term
Differentiated technology is harder to replicate and supports future awards.
04
Improve operating efficiencyshort-term
Cost actions and tariff recovery help offset mix pressure and macro volatility.
Garrett is exposed to cyclical vehicle production, customer concentration and the pace of technology transition from...
Technology transition risk
The market is shifting toward hybrids, BEVs and zero-emission solutions, requiring ongoing RD&E.
- Scope
- Failure to deliver competitive new products could erode long-term relevance.
- Materiality
- high
Competitive pressure
The company competes with large suppliers, OEM captive units and start-ups with flexible capital.
- Scope
- Pricing, award wins and technology adoption can be pressured across regions.
- Materiality
- high
Aftermarket demand volatility
Aftermarket sales depend on vehicle age, mileage, weather, infrastructure and off-highway end markets.
- Scope
- Demand can weaken if replacement cycles lengthen or dealer coverage deteriorates.
- Materiality
- medium
Cybersecurity and product software risk
Incidents could disrupt systems, expose data or create third-party claims tied to embedded software.
- Scope
- Manufacturing, engineering and customer support operations could be interrupted.
- Materiality
- medium
Revenue recognition and variable consideration
Can shift revenue timing and create true-ups when estimates change
Foreign exchange and tariff recovery
Can materially affect gross margin and operating income by quarter
Seasonality and product mix
Affects comparability of quarterly revenue and profitability
Critical estimates and impairment
Could lead to impairment charges if market adoption or volumes weaken
: 28.4.2026