Forensic Analysis · Automotive / Vehicle Manufacturing · as of Aug 4, 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
4
Forensic signals
-17.1%
ROE
-10.3%
Revenue growth
The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
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 (red flags, auditor quality, say on pay, board independence). 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 Altman Z-score is 2.3, placing it in the Grey zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 4 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 from 5% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
+1.5%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +5% over the last 3 years to FY2025 (+1.5%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~1.5% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~4%.
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 is building a little faster than sales — watch for markdowns.
$27M
FY2020–FY2020
Goodwill impairments.Took $27M of goodwill writedowns across 1 year (FY2020 ($27M)). Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$649.0M
Revenue Growth YoY-10.3%
Net Margin-3.5%
Free Cash Flow$34.0M
Return on Equity-17.1%
Debt / Equity0.79x
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Commercial Vehicle Group, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about CVGI's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown