Forensic Analysis · Parts & Accessories Manufacturing · as of Nov 8, 2026

Commercial Vehicle Group, Inc. (CVGI)

A forensic read on Commercial Vehicle Group, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Grey Zone

Financial health

2.3

Distress distance

Clean

Earnings quality

Forensic signals

-16.9%

ROE

-10.3%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Commercial Vehicle Group, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 2.3, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

-0.2%

FY2025

Return on invested capital. Return on invested capital is -0.2% in the latest fiscal year and slipping across FY2023–FY2025 from 11.4%. After-tax operating profit was $36M in FY2023 and ($518,240) in FY2025, with operating income at 4.8% of revenue in FY2023, -0.1% in FY2024 and -0.1% in FY2025. The capital base behind it came down -16% across FY2023–FY2025, from $315M to $266M, so this return is struck on a smaller base than it started on. FY2025's operating profit carried a $5M restructuring charge that alone took about 1.6 points off that year's return, so about 1.6 of the 11.6-point fall across FY2023–FY2025 is that charge landing in the latest year rather than the capital earning less. FY2024's operating profit carried a $11M restructuring charge that alone took about 2.9 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it.

78d

FY2024→FY2025

Inventory days. Days inventory outstanding moved from 69 to 78 FY2024→FY2025 (against cost of goods sold; inventory -8% vs -11% in cost of sales). Inventory did not fall as fast as cost of sales, so days on hand lengthened — watch for markdowns.

Key fundamentals

Latest Revenue$649.0M

Revenue Growth YoY-10.3%

Revenue CAGR (2yr)-11.9%

Net Margin-3.5%

Free Cash Flow$34.0M

Return on Equity-16.9%

Debt / Equity0.79x

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Data from SEC EDGAR public filings · metrics as of Nov 8, 2026. Forensic signals flag probability, not certainty.

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