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Magna International Inc MG

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Stock XTSE Rating as of
CAD 67.15 +0.61 (0.92%)
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Company Report

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Magna Is One of the Largest Auto Suppliers in the World

David Whiston

Magna International is one of the largest, most diversified auto parts suppliers in the world. However, large and diversified is no guarantee of economic profits for investors. While breadth in product and services can be advantageous with regard to cross-selling--commercial activities that bolster content per vehicle and market penetration--we see only limited evidence that Magna's diversified strategy has benefited investors in the form of higher margins and ROIC.

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Price vs Fair Value

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MG is trading within a range we consider fairly valued.
Price
CAD 67.97
Fair Value
CAD 69.00
Uncertainty
High
1-Star Price
CAD 375.40
5-Star Price
CAD 92.10
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

High switching costs and significant barriers to entry enable sticky market shares for auto suppliers.

Bears

Magna relies heavily on a handful of automakers with its top six customers accounting for 76% of total 2023 revenue.

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News

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Trading Information

Previous Close Price
CAD 66.54
Day Range
CAD 66.63–67.45
52-Week Range
CAD 64.41–87.00
Bid/Ask
CAD 67.02 / CAD 67.23
Market Cap
CAD 19.29 Bil
Volume/Avg
505,406 / 1.2 Mil

Key Statistics

Price/Earnings (Normalized)
9.21
Price/Sales
0.33
Dividend Yield (Trailing)
3.73%
Dividend Yield (Forward)
5.12%
Total Yield
3.82%

Company Profile

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contract vehicle assembly. In 2023, 48% of Magna's $42.8 billion of revenue came from North America while Europe accounted for approximately 38% and Asia the remainder. The firm's top six customers constituted 76% of revenue with the top three being GM, Mercedes, and BMW. GM was the largest contributor at 14%.
Sector
Consumer Cyclical
Industry
Auto Parts
Stock Style Box
Large Core
Total Number of Employees
179,000
Website
https://www.magna.com

Competitors

Valuation

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Metric
MG
BWA
GNTX
Price/Earnings (Normalized)
 9.217.7218.86
Price/Book Value
 1.221.313.38
Price/Sales
 0.330.553.41
Price/Cash Flow
 4.875.2414.52
Price/Earnings
MG
BWA
GNTX

Financial Strength

Metric
MG
BWA
GNTX
Quick Ratio
 0.691.242.07
Current Ratio
 1.061.653.67
Interest Coverage
 7.2814.10—
Quick Ratio
MG
BWA
GNTX

Profitability

Metric
MG
BWA
GNTX
Return on Assets (Normalized)
 5.10%5.84%18.80%
Return on Equity (Normalized)
 13.89%13.81%21.28%
Return on Invested Capital (Normalized)
 9.21%8.58%21.28%
Return on Assets
MG
BWA
GNTX
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