Sensata Technologies Holding
The maker of small sensors and safety switches inside cars, trucks, aircraft and air-conditioners: parts a carmaker designs in once and rarely replaces for the life of a model.
The scores
Growth2/4 ↑
Revenue fell from $4.05B to $3.70B since 2023; excluding businesses sold, 2025 grew 0.1%; 2026's 4.3% covers two quarters, with cars up 1.8%.
Business quality3/4 →
Approved parts stay a platform's life and top customers average 36 years, but each new platform is re-bid and Chinese rivals ship the same parts.
Financial position3/4 ↑
Net debt of $2.06B is 2.4 times adjusted cash earnings and nothing matures before April 2029, but it is debt, rated below investment grade.
Execution record2/4 ↑
Acquisitions were written down by $697.5M over three years and 'one-off' charges recur; the new team's recent guidance was met, over only six quarters.
Per share capture3/4 →
The share count is flat and buybacks paused for debt repayment; cash spent on acquisitions later written off is the past leak.
Potential2/4 →
Data centres and refrigerant leak detection need design wins to become orders; no volumes are signed, and electric-car programmes have been cancelled.
Risk profile3/4 →
No customer above 10%, but 57% of revenue rides car production and about 20% comes from China, where local rivals win.
Valuation3/4 ↓
About $10.30 per $1 of free cash flow prices today's cash with no growth; not Cheap, since capital spending was unusually low at 3.0%.
Evidence quality3/4 →
The charges, cash and debt are filed facts; outgrowth, content per vehicle and data-centre wins are management's spoken figures, graded not verified.
The Verdict
We rate Sensata neutral. It makes sensors and electrical switches that carmakers and factories design in once and rarely change, which gives it an edge, but the business is mixed: sales have shrunk for two years and charges it calls one-off come back every year. It still turns a steady stream of sales into spare cash, and on that cash the shares look cheap, though not cheap enough for a shrinking business, so the price is fair. The view hinges on the next result: whether those charges stop and car sales grow without one-off payments while world car production falls.
The long caseElectric cars need high-voltage switches and protection a petrol car lacks; if electric car sales keep rising, Sensata's content per car must turn shrinking sales around.
The evidence under this - 7 claims
- Capital spending was just over 2% of revenue in H1 2026 against a historical rate above 4%; at 4% the figure would be about $543.8M.
- Cash restructuring payments are inside this figure and have been paid every year, so they are not a reason to add it back.
- 2026-10-27editedre-struck on the Q3 filing: four quarters to Q3 2026
- On the adjusted earnings consensus uses the price is about 11.4 times trailing adjusted EPS of $3.61, which reads cheaper than the official 66.5 times.
- The pack's vendor figure is 10.7 times free cash flow, struck on a different share count and period.
- 2026-10-27editedre-struck at the October 26 close on four-quarter free cash flow
- Outgrowth is a non-GAAP figure computed against a market weighting the company chooses; FY2025 organic growth was negative against rising world output (C25).
- It did not outgrow in China in the same quarter (C21).
- Without the $24.0M payment Automotive organic growth in Q3 was about -1.9%; whether it outgrew production is not in the filings.
- 2026-10-27editedQ3 10-Q attributes Automotive growth to the termination payment
- 2026-10-28editedQ3 call: Automotive outgrew production by about 4% with the payment and 0.5% without; the Q4 guide implies about 1% outgrowth on revenue down about 3%
The company
A modern car reads dozens of signals: tyre pressure, brake pressure, exhaust temperature. Sensata makes the sensors that turn those into electronic readings, and the high-voltage switches and fuses that connect and cut off an electric car's battery. American law requires a tyre pressure monitor in every covered vehicle.
It sells to carmakers and to truck, aircraft and appliance makers. The alternative is a rival's approved part; TE Connectivity and Littelfuse both name Sensata as a competitor.
The evidence under this - 4 claims
How it makes money
Sensata wins a part on a new model and is paid for every unit the customer builds, for the model's five to seven years. Contracts rarely fix volumes, so revenue follows production. Cars are 57.0% of sales; industrial and aerospace customers make up the rest, and in the June quarter earned 27.1% and 27.8% on each sales dollar, against 24.2% for cars.
The evidence under this - 4 claims
- The same 10-K says customers demand annual price reductions, may add suppliers, and some can make these parts themselves (C19).
- Its China content per vehicle is under half North America's (C20), where local makers win on price.
Where the money comes from, stream by stream
| Stream | Share of sales (FY2025) | How it earns it |
|---|---|---|
| Automotive | 57.0% | Sensors, electrical protection and high-voltage parts designed into car platforms, sold to carmakers and their suppliers, plus aftermarket parts. |
| Industrials | 21.3% | Sensors for industrial equipment and heating and cooling, and Dynapower power conversion for energy storage and electrical infrastructure. |
| Aerospace, Defense and Commercial Equipment | 21.7% | Sensing, power conversion and electrical protection for aircraft, defence systems, trucks and heavy equipment. |
Who runs it
Stephan von Schuckmann, who ran electric-car and purchasing businesses at the German parts maker ZF, became chief executive in January 2025; Andrew Lynch, at Sensata since 2009, became finance chief that July. Since then the company has paid down debt and hit its quarterly forecasts, but costs it calls one-off kept coming. Insiders own under 1%. The bonus pays on adjusted profit margin and cash flow, the share awards on the stock against peers and on return on capital, and all of them leave those recurring costs out.
The evidence under this - 5 claims
- The businesses bought before were written down by $697.5M over the same three years and Insights was sold at a loss (C08), so the record includes what the earlier deals cost.
- In H1 2026 buybacks fell to $25.1M as cash went to debt (C14).
- The bonus margin and the PRSUs' ROIC both exclude restructuring charges and acquisition amortisation, so the charges above $300M a year (C07) that C50 says recur cost the pay plan nothing.
- The 2023 PRSUs vested at only 75% of target, as relative return ranked in the 13th and 38th percentiles in 2023 and 2024, so the long-term awards have not paid regardless of results.
Why it wins, and who could beat it
Why customers come back
Once a carmaker approves a part from a particular plant for a model, changing it means approval all over again under the industry's own process, and a bad part can mean a recall: one switch from the business Sensata grew out of cost Ford a recall of 4.5 million vehicles in 2009. So the incumbent keeps it for the model's life.
The lock lasts one model; at the next, the part is bid again on price. Still, its top ten customers have bought from it for 36 years on average.
The evidence under this - 4 claims
- The same 10-K says customers demand annual price reductions, may add suppliers, and some can make these parts themselves (C19).
- Its China content per vehicle is under half North America's (C20), where local makers win on price.
The threat
The danger is China. Chinese makers such as Hongfa sell the same battery switches to local carmakers at local cost, and Sensata's own report says low-cost Chinese firms are entering its industrial markets. More than 90% of its new China business is with local carmakers, where it earns under $20 a car against the mid-$30s in North America.
The evidence under this - 4 claims
Management also says integrating with battery makers gives it access to many Chinese carmakers at once; that is not yet in the revenue.
The figures are spoken, not filed, and the method - which vehicles, which products - is not given.
The rivals: LFUS, CTS, TEL, APH, and 1 more that is private, in-house or listed abroad.
Who else does this, rival by rival
| Ticker | Rival | Where it competes | How far along | Priced against it |
|---|---|---|---|---|
| Hongfa (Xiamen Hongfa Electroacoustic) high-voltage DC relays and battery disconnect unitsPriced against it: Listed abroad | Automotive | On sale | Listed abroad | |
| Hongfa appliance relays | Industrials | On sale | ||
| LFUS | Littelfuse, through its Transportation segmentPriced against it: Yes | Automotive | On sale | Yes |
| CTS | CTS Corporation sensors and actuatorsPriced against it: Yes | Aerospace, Defense, and Commercial Equipment | On sale | Yes |
| TEL | TE ConnectivityPriced against it: One segment only | - | On sale | One segment only |
| APH | AmphenolPriced against it: One segment only | - | On sale | One segment only |
How big it could get
How big this could get
The world built 96.4 million vehicles in 2025, up 3.9%. Nobody publishes what all suppliers' sensors and switches are worth per car, so the market cannot be priced in dollars. Sensata's car sales of $2.11B work out at about $22 for every vehicle built anywhere.
The evidence under this - 2 claims
The results
The numbers
Sales fell 5.8% in the year to Dec 2025, about the same pace as the −3.0% in the year before.
Operating margin is 6.4%, down from 17% in the year to Dec 2022.
Running costs take 23¢ of each sales dollar, up from 17¢ in the year to Dec 2021.
Shareholders' money earned 1.1% a year, down from 13% in the year to Dec 2021.
It turned 13% of sales into free cash, $490M over the year.
It owes $2.26B more than the cash it holds, about 3.6 years of the cash its operations bring in.
The share count fell 7.7% in 4.0 years, and pay in shares costs 0.7% of sales.
All the numbers
Filed figures from the company's 10-K and 10-Q, read 2026-10-27. Fiscal years end in December.
| Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|
| Size and growth | |||||
| Sales | $3.82B | $4.03B | $4.05B | $3.93B | $3.70B |
| Sales growth | +25% | +5.5% | +0.6% | −3.0% | −5.8% |
| Profit | |||||
| Gross margin | 33% | 33% | 31% | 29% | 29% |
| Operating margin | 17% | 17% | 4.5% | 3.8% | 6.4% |
| Net margin | 9.5% | 7.7% | −0.1% | 3.3% | 0.8% |
| What growth costs, per sales dollar | |||||
| Research and development | 4.2% | 4.7% | 4.4% | 4.3% | 3.6% |
| Selling, general and admin | 8.8% | 9.2% | 8.7% | 10.0% | 9.6% |
| Pay in shares | 0.7% | 0.8% | 0.7% | 1.0% | 0.7% |
| Capital spending | 3.8% | 3.7% | 4.6% | 4.0% | 3.5% |
| Cash | |||||
| Cash from operations | $554M | $461M | $457M | $552M | $622M |
| Free cash flow | $410M | $311M | $272M | $393M | $490M |
| Balance sheet | |||||
| Cash and short-term investments | $1.71B | $1.23B | $508M | $594M | $573M |
| Debt | $4.22B | $4.21B | $3.37B | $3.18B | $2.83B |
| Net cash | −$2.51B | −$2.99B | −$2.87B | −$2.58B | −$2.26B |
| Returns and shares | |||||
| Return on capital | 8.0% | 7.2% | - | - | - |
| Shares (diluted) | 159M | 156M | 152M | 151M | 147M |
What growth costs
Sensata's spending to win sales, on research, selling and new equipment, has stayed about the same share of each sales dollar for years. What squeezed profit was the cost of making the parts, which rose as sales shrank, and the repeated restructuring charges. A return to growth should help margins, but only if those charges stop.
The evidence under this - 2 claims
The FY2025 cut in R&D to 3.6 cents came with restructuring that cost $352.2M that year (C07), so the lower ratio was bought with charges left out of adjusted profit.
The last report (29 Jul)
Quarter ended June 2026, filed figures.
The third quarter of 2026 beat the company's own guidance: adjusted profit per share was $1.13 against a forecast of $0.93 to $0.97. $24.0M of it was a customer paying to cancel an electric-vehicle programme; without that payment profit per share was $0.97 and Automotive sales fell about 1.9% leaving out currency.
Cash was the stronger story: free cash flow was $198.3M against $136.2M, and net debt fell to 2.1 times adjusted earnings. On the call management said the cancellation payment will not recur, that car sales beat production by about 0.5% without it, and that data-centre sales are on track for $48M this year.
What it did to the thesisIt backed the cash and debt half of the case and showed cars just ahead of their market without the payment. The fourth-quarter guide has car sales falling, and the year's one-off charges are heading above the level that would have made us more positive, so the view stays Neutral.
The quarter in detail
Sales growth from the previous quarter, filed figures. The company has restated its own history, so a quarter either side of the restatement may describe a different business; n/c marks one that does not compare.
Earnings per share $0.98 against $0.93 expected; $0.70 as filed, the gap being what the company adds back.
The evidence under this - 6 claims
The 10-Q credits content growth for the nine-month Automotive figure of 1.8%, and management may say on the Q3 call that content beat production; the call was not available on 27 October.
Q4 charges are guided, not incurred, and the Transformation Plan runs to June 30, 2028 per the 10-Q.
- Outgrowth is a non-GAAP figure computed against a market weighting the company chooses; FY2025 organic growth was negative against rising world output (C25).
- It did not outgrow in China in the same quarter (C21).
- Without the $24.0M payment Automotive organic growth in Q3 was about -1.9%; whether it outgrew production is not in the filings.
- 2026-10-27editedQ3 10-Q attributes Automotive growth to the termination payment
- 2026-10-28editedQ3 call: Automotive outgrew production by about 4% with the payment and 0.5% without; the Q4 guide implies about 1% outgrowth on revenue down about 3%
- A specification is not an order: no volume, term or customer is named, and management declined to give a revenue range.
- Dynapower, the acquired power-conversion business management now points at data centres, was written down twice (C08).
- 2026-10-28editedQ3 call: seven wins across six hyperscalers and a data-centre revenue figure of $27M in 2025 and $48M expected in 2026
What management did with the money
It spent the cash on debt, paying $400.0M in June to retire $406.1M of notes, which leaves net debt of $2.06B and nothing due before April 2029. Buybacks fell to $25.1M in the half from $120.6M. The chief executive bought 15,150 shares in March at $33.11.
Insiders in 2026Q2: 27 purchases and 24 sales, from their Form 4 filings.
The evidence under this - 4 claims
- 2026-10-27editedre-struck on the Q3 balance sheet
The price, and where we disagree
In short. Fair. Cheap on the cash, which is real, but not cheap enough yet for a business that is shrinking and keeps booking charges it calls one-off.
The shares have swung on moods more than on cash: $19.75 in April 2025 on tariffs, $53.55 in June 2026 on data-centre hopes, $41.06 now. Over the year the price paid per dollar of sales rose 33.05% while sales per share barely moved.
The next test is the fourth-quarter results in February. Management guided car sales down about 3% in the fourth quarter on world car output down about 4%, which would pressure the test, so whether Sensata's car sales grow without one-off payments is the evidence the view is waiting for.
The evidence under this - 4 claims
Truck orders and aerospace backlogs, the other 24% of revenue, point up in the same call.
- 2026-10-28editedQ3 call: production fell about 2% in Q3 and is expected down about 4% in Q4 and 2% for the year
- Outgrowth is a non-GAAP figure computed against a market weighting the company chooses; FY2025 organic growth was negative against rising world output (C25).
- It did not outgrow in China in the same quarter (C21).
- Without the $24.0M payment Automotive organic growth in Q3 was about -1.9%; whether it outgrew production is not in the filings.
- 2026-10-27editedQ3 10-Q attributes Automotive growth to the termination payment
- 2026-10-28editedQ3 call: Automotive outgrew production by about 4% with the payment and 0.5% without; the Q4 guide implies about 1% outgrowth on revenue down about 3%
How we read the multiple
Buyers pay about $11 for each $1 of spare cash Sensata made last year, the cash left after running and investing in the business. Rivals sell for about $21. That is cheap if the cash holds, though sales are barely growing.
But two things flatter that cash. Spending on equipment was only 3% of sales; at last year's 3.5%, the cash would be about $562M. And the company's adjusted profit runs about $217M a year above the reported one, a gap made of charges that keep coming back.
Against its own history. Cheaper than its own normal on cash, far dearer on reported profit. The recurring charges are what split the two, and cash is the honest measure here.
The evidence under this - 5 claims
- On the adjusted earnings consensus uses the price is about 11.4 times trailing adjusted EPS of $3.61, which reads cheaper than the official 66.5 times.
- The pack's vendor figure is 10.7 times free cash flow, struck on a different share count and period.
- 2026-10-27editedre-struck at the October 26 close on four-quarter free cash flow
- Capital spending was just over 2% of revenue in H1 2026 against a historical rate above 4%; at 4% the figure would be about $543.8M.
- Cash restructuring payments are inside this figure and have been paid every year, so they are not a reason to add it back.
- 2026-10-27editedre-struck on the Q3 filing: four quarters to Q3 2026
- The Q3 2025 adjusted figure is taken from the Q3 2026 guidance table's comparison column rather than the Q3 2025 release, which was not read.
- Amortisation, $70.0M of the gap, is a real cost of past deals but uses no cash, so part of the gap is not a cash difference.
Priced against its rivals
The competitors its own annual report names, each confirmed against the rival's filing. Measured on price for each $1 of spare cash, cheapest first:
| Ticker | Company | price for each $1 of spare cash |
|---|---|---|
| ST | Sensata Technologies Holding | 10.7× |
| CTS | CTS | 18.7× |
| LFUS | Littelfuse | 24.4× |
The middle of the other 2 is 21.5. Sensata Technologies Holding plc is cheapest of 3.
Rivals' figures come from a data provider, so read the spread of the group rather than any single pair.
The cheapest of its filed rivals on cash and the slowest-growing, so the discount is its own and matches its growth.
Also checked and set aside: Allegro MicroSystems (a substitute, not the same product).
Private or foreign rivals that cannot be priced: Robert Bosch GmbH, Continental AG, Xiamen Hongfa Electroacoustic, Panasonic Holdings.
Where we disagree with the market
Split, and valuing it on adjusted profit that leaves out charges which in fact recur every year.
The cash is real, but the adjusted 19% margin overstates what owners earn, and thin capital spending flatters the latest year.
The notes that reconcile adjusted profit to reported show 'one-off' charges above $300M in each of 2023, 2024 and 2025. Coverage prices the adjusted figure anyway.
We would be wrong if those charges fall below $70M in 2026, with free cash flow still above $550M after normal capital spending.
What analysts say, and the evidence
The evidence under this - 4 claims
- In H1 2026 the adjustments fell to $60.4M, and $31.5M of that is amortisation of past acquisitions, which is a real but non-cash cost; the gap is closing (C45).
- Free cash flow already pays for the cash restructuring, so a buyer of the cash stream is not misled by the adjusted margin (C09).
- Capital spending was just over 2% of revenue in H1 2026 against a historical rate above 4%; at 4% the figure would be about $543.8M.
- Cash restructuring payments are inside this figure and have been paid every year, so they are not a reason to add it back.
- 2026-10-27editedre-struck on the Q3 filing: four quarters to Q3 2026
What could go wrong, and how we would know
The risks
- Acquisitions that disappoint. The value of bought businesses was written down three years running, $697.5M in all, and one was sold at a loss.
- Cars lagging their market. In 2025 its car sales fell 1.2% on an organic basis while world vehicle output rose 3.9%.
- Electric cars stalling. A customer cancelled an electric-vehicle programme in late 2025, and North American electric production fell more than 30% in the June quarter.
- Debt. Net debt is 2.4 times a year's adjusted cash earnings, which is why the cash is going to lenders rather than buybacks.
The evidence under this - 6 claims
- OICA counts all vehicles worldwide, including China, where Sensata's content is lowest and where local makers grew; weighted by Sensata's own regional mix the market grew less.
- Management reports 2% outgrowth in Q2 2026, and 14% growth in North American combustion-engine revenue (C26).
- Outgrowth is a non-GAAP figure computed against a market weighting the company chooses; FY2025 organic growth was negative against rising world output (C25).
- It did not outgrow in China in the same quarter (C21).
- Without the $24.0M payment Automotive organic growth in Q3 was about -1.9%; whether it outgrew production is not in the filings.
- 2026-10-27editedQ3 10-Q attributes Automotive growth to the termination payment
- 2026-10-28editedQ3 call: Automotive outgrew production by about 4% with the payment and 0.5% without; the Q4 guide implies about 1% outgrowth on revenue down about 3%
- 2026-10-27editedre-struck on the Q3 balance sheet
What we still do not know
- How much revenue the data-centre wins will bring. Management names five specifications with four of the largest cloud companies and gives no figure.
- Whether cars really outgrew production in the June quarter. The 2% is management's spoken figure.
- Whether capital spending can stay as low as 3.0% of sales.
The evidence under this - 3 claims
- A specification is not an order: no volume, term or customer is named, and management declined to give a revenue range.
- Dynapower, the acquired power-conversion business management now points at data centres, was written down twice (C08).
- 2026-10-28editedQ3 call: seven wins across six hyperscalers and a data-centre revenue figure of $27M in 2025 and $48M expected in 2026
- Outgrowth is a non-GAAP figure computed against a market weighting the company chooses; FY2025 organic growth was negative against rising world output (C25).
- It did not outgrow in China in the same quarter (C21).
- Without the $24.0M payment Automotive organic growth in Q3 was about -1.9%; whether it outgrew production is not in the filings.
- 2026-10-27editedQ3 10-Q attributes Automotive growth to the termination payment
- 2026-10-28editedQ3 call: Automotive outgrew production by about 4% with the payment and 0.5% without; the Q4 guide implies about 1% outgrowth on revenue down about 3%
- Capital spending was just over 2% of revenue in H1 2026 against a historical rate above 4%; at 4% the figure would be about $543.8M.
- Cash restructuring payments are inside this figure and have been paid every year, so they are not a reason to add it back.
- 2026-10-27editedre-struck on the Q3 filing: four quarters to Q3 2026
What would change our view
- Neutral→AttractiveThe price falls further on unchanged cash
It needs all of:
- ○The shares fall to 8 times the last year's free cash flow or less, from about 9.2.about $35.38 today, 14% below the last close
- ○Free cash flow over the last four quarters stays at or above $500M.checked at the next results, due in Feb 2027
- Neutral→AttractiveThe charges stop and cars outgrow a falling market
It needs all of:
- ○Charges left out of adjusted profit fall below $70M in 2026, from $126.5M in 2025 before the write-down and about $74M on the Q3 guide.checked at the next results, due in Feb 2027
- ○Car sales grow in 2026, leaving out currency and businesses sold, while world vehicle production falls.checked at the next results, due in Feb 2027
- Neutral→UnattractiveThe cash stops holding
It needs:
- ○Free cash flow over four quarters falls below $450M.checked at the next results, due in Feb 2027
We would also be wrong if
- Another write-down on a bought business is recorded before the end of 2027.
- Car sales grow slower than regional vehicle production for two quarters running.
- Data-centre revenue is disclosed above $100M a year, from signed orders, by the end of 2027.
What is coming
- February 2027 Q4 2026 results and the FY2026 10-K: Whether the year's restructuring and other charges again exceed $300M, and the full year's free cash flow and debt against FY2025.
Every dated event ahead
- February 2027 Q4 2026 results and the FY2026 10-K: Whether the year's restructuring and other charges again exceed $300M, and the full year's free cash flow and debt against FY2025.
- March 2027 Data-centre cooling sensor award starts shipping: Whether a hyperscaler design win turns into revenue on the schedule management gave, the first test of the data-centre potential.
Since we wrote this
- 28 OctEarningsCall read: cars barely beat production without the paymentWithout the $24.0M payment Automotive outgrew production by about 0.5%, and the Q4 guide has car sales down about 3%; cash and debt held, so Neutral stays.
- 27 OctEarningsQ3 beat, but car growth came from a one-off paymentCash and debt improved; Automotive grew only through a $24.0M cancellation payment, and 2026 charges look near $74M, so Neutral held.
- 5 OctThesis reviewThe long case now sits under the verdictAfter the five-name pilot, the owner asked for the long case on every thesis.
- 4 OctThesis reviewOwner's checklist: revenue streams, cost of growth, management, catalystsThe owner's checklist found the method silent on who runs the company, what growth costs, where the money comes from and what is dated ahead; this pass fills those four blocks from the proxy and filings.
- 25 SepThesis writtenNeutral, medium convictionWritten after the shares fell 23.8% from their June high, with free cash rising while adjusted profit kept leaving out charges that recur every year.
Sources 25
Sources - 25
Every claim above cites one of these, or states the reasoning that derived it. The quote is frozen at the date it was read: a link can rot, and an agent fetch returns a reading of a page rather than the page. Backs counts the whole claim ledger, so it can name a claim this page does not surface.
- S01primarycompany filing2026-02-27Item 1 products, segments and competition classes; risk factors on competition, China, tariffs and impairment; MD&A segment bridge; non-GAAP reconciliations for 2023-2025; free cash flow; debt and leverage; headcount; the Texas Instruments cross-licencebacksC01C02C04C06C07C08C09C10C15C16C18C19C22C24C28C44C47C48C49C55C56
- S03primarycompany filing2026-07-29segment note with segment operating income, MD&A organic bridge, debt note and tender offer, share count, buybacks, Transformation Plan, cash by regionbacksC03C05C13C14C40C47
- S04primarycompany release2026-02-19the electric-vehicle programme cancellation charge, full-year adjusted figures, Q1 2026 guidance (quarterly only, no annual guide)backsC04C28
- S05primarycompany release2026-07-29Q2 2026 reconciliations, free cash flow, leverage table, segment margins, Q3 2026 guidance with the programme-termination exclusionbacksC03C05C07C09C10C11C12C28C37C40C42C45C48
- S06primarytranscript2026-07-29Q2 2026 earnings call transcript (FMP)management's outgrowth figures, content per vehicle by region, China mix, data-centre and refrigerant wins, India plant; nine analysts' questions, none on the recurring charges
So we're mid-30s in terms of content per vehicle in North America, high 30s in Europe and then just under 20 in China.
backsC20C21C26C32C35C38 - S10primaryindustry data2026-09-25the industry body's own statement of what supplier part approval is
The Production Part Approval Process (PPAP), is one of the most important Core Tools because it is the contractual submission for the part coming from your supplier, or moving from you to your customer.
backsC17 - S11primaryregulator2009-10-134,500,000 potential units affected; what a failed switch costs the carmaker
VEHICLES EQUIPPED WITH THE TEXAS INSTRUMENTS SPEED CONTROL DEACTIVATION SWITCH (SCDS). THE SCDS MAY LEAK INTERNALLY AND THEN OVERHEAT, SMOKE, OR BURN.
backsC18 - S12primaryindustry data2026-04-23world vehicle production, the base of the prize
Global vehicle production rose from 92.7 million units in 2024 to 96.4 million in 2025 (+3.9%), while global sales climbed from 95.3 million to 99.8 million units (+4.7%).
backsC23 - S13primaryindustry data2026-07EU battery-electric share for H1 2026; the H1 2025 figure of 15.6% is ACEA's own release title for that half
Hybrid-electric vehicles lead as the most popular powertrain choice among buyers, while battery-electric cars reached 20.7%.
backsC27 - S14primaryother2026-09-25Hongfa - corporate website, industries and automotive solutions Xiamen Hongfa Electroacousticthe attacker's own description of what it sells to carmakers; the same page describes relays for air-conditioners and refrigerators
Hongfa maintains a stable relationship with global famous OEMs and Tier1 suppliers. Hongfa provides automotive relays, high voltage DC relays, BCM, BDU, PDU, oxygen sensors.
backsC29 - S15primarycompany filing2026-02-19names Sensata among its Transportation competitors; its own circuit protection and sensing to carmakersbacksC30
- S16primarycompany filing2025-11-10names Sensata among Transportation Solutions' major competitorsbacksC31
- S17primarygovernment data2024-12-20the outside rate for the data-centre driver
The report finds that data centers consumed about 4.4% of total U.S. electricity in 2023 and are expected to consume approximately 6.7 to 12% of total U.S. electricity by 2028.
backsC33 - S18primaryregulator2026-09-25the refrigerant switch that drives leak-detection demand
Effective January 1, 2025, self-contained residential and light commercial air conditioning and heat pump products using a regulated substance, or a blend containing a regulated substance, with a global warming potential of 700 or greater
backsC34 - S19primaryregulator2026-09-25a regulated sensor in every US light vehicle
each vehicle must be equipped with a tire pressure monitoring system that meets the requirements specified in S4
backsC36 - S20primarycompany filing2026-09-25every open-market trade with its Rule 10b5-1 flag: one chief executive purchase, ten discretionary salesbacksC39
- S21secondaryvendor data2026-09-25Research pack, frozen 2026-09-25 (FMP market tier and filed cohort)content/ST/research-pack.jsoncloses and the 52-week range, the price-move decomposition, the analyst panel and estimates, the filed cohort's multiplesbacksC40C41C42C48
- S22primaryregulator2026-09-15short interest and its trend
settlement_date 2026-09-15 shares_short 6612223 days_to_cover 4.66 pct_of_float 4.59
backsC43 - S23primarycompany filing2026-02-24a filed rival's description of the same sensors to the same buyers, and the same China and truck pressuresbacksC51
- S24primaryindustry data2025-07the H1 2025 comparison for the EU battery-electric share
New car registrations: -1.9% in H1 2025; battery-electric 15.6% market share
backsC27 - S25primarycompany filing2026-04-29beneficial ownership as of March 30, 2026; executive officers and the CEO and CFO transitions; the 2025 annual bonus metrics, goals and payout; the 2025 PRSU metrics and goals; the 2023 and 2024 PRSU outcomesbacksC52C53C54
- S26primarycompany filing2026-10-04revenue, cost of revenue, ResearchAndDevelopmentExpense, SG&A, stock pay, capital spending and diluted shares for FY2020 to FY2025, the numbers cardbacksC55C56
- S27primarycompany filing2026-10-27Q3 and nine-month revenue, adjusted and reported profit, the $24.0M termination payment, free cash flow, debt and leverage, Q4 2026 guidancebacksC10C11C12C37C57C59C60
- S28primarycompany filing2026-10-27organic growth by segment, the cause of Automotive's growth, restructuring notebacksC26
- S29primarytranscript2026-10-27Sensata Q3 2026 earnings call transcript (FMP), held 27 October 2026Automotive outgrowth with and without the termination payment, the Q4 and Q1 outlook, the data-centre revenue and hyperscaler wins, and that no more termination payments are expected
We do not expect revenue to increase sequentially from Q4 into Q1, and therefore, we do not expect sequential volume leverage to mitigate sequential margin seasonality in the same manner that it did last year.
backsC26C32C38C61