Visteon Corporation


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Visteon Corporation: Initiation Of Coverage – Strong Demand for Digital Cockpit Products and Battery Management Systems (BMS)! 


This is our first report on automotive electronics and connected car solutions manufacturer, Visteon Corporation. The company’s Q4 and full-year 2023 earnings were decent and it achieved $3.95 billion in full-year sales, marking a record high. This was largely brought about by a $400 million increase in base sales, involving a supply chain recovery, digitalization and electrification trends. The company provided strong product sales growth, with a significant surge in digital clusters (up more than 30%), SmartCore (up more than 20%) and BMS (more than double the previous year). The firm achieved an adjusted EBITDA of $434 million at a margin of 11% of sales, improving its margin by 170 basis points over the previous year owing to excellent operational performance and robust growth. As a result, adjusted EBITDA came in above the midpoint of both last year’s guidance and the one issued at the start of the year.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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