Aptiv PLC Revenue in 2024

Aptiv PLC reported $20.3B in revenue for fiscal year 2024. This represents a growth of 0.5% compared to the 2023 figure of $20.2B.

Revenue grew from $17.5 billion in 2022 to $20.3 billion in FY2024, essentially flat between 2023 and 2024, tracking the automotive production volumes of the OEM customers that represent nearly all of Aptiv's revenue. Net income of $815 million in FY2024 on $20.3 billion in revenue is a 4% net margin that reflects the thin economics of supplying manufactured components to automakers who negotiate 2-3% annual price reductions into their supply contracts. The financial architecture of an automotive supplier is fundamentally about operating leverage and cost reduction speed. Aptiv's automated manufacturing equipment for high-voltage wiring harnesses drives labor costs down 15% annually — faster than the price concessions automakers demand — which means margins improve as production scales. But that automation investment requires capital expenditure that depresses free cash flow in the near term. Market capitalization of approximately $20 billion against $20.3 billion in revenue prices Aptiv as a cyclical industrial company tied to automotive production volumes, not as the technology infrastructure firm its product roadmap suggests it wants to be. The Signal and Power Solutions segment is the cash engine. The Advanced Safety segment is the multiple expansion argument — if software-defined vehicles become the norm, that $5.1 billion segment grows at technology company rates. The SEC inquiry into Brazilian operations was disclosed in 2023 without resolution details made public. Brazil represents a meaningful manufacturing footprint for Aptiv, and Foreign Corrupt Practices Act exposure in emerging market operations is a financial risk that doesn't appear in revenue projections but shows up in legal reserves and management bandwidth.