Magna International

Magna International is one of the largest suppliers of auto parts in the world. It is based in Aurora, Ontario, and its shares trade on the Toronto Stock Exchange and the New York Stock Exchange. It has four segments.

Body Exteriors & Structures makes vehicle bodies, chassis, bumpers and other exterior parts. Power & Vision makes powertrain, electronics, driver assistance and mechatronics products. Seating Systems makes complete seats.

Complete Vehicles builds whole vehicles for car makers under contract, mainly in Graz, Austria, and also gives engineering services. In 2026, it sold its European Lighting and its Rooftop Systems businesses. Magna expects 2026 sales of $41.2 billion to $42.0 billion.

The market prices Magna for the risks of the auto cycle. Global light vehicle production fell 2% in Q2 2026, with lower production in North America, Europe and China. In Q3 2026, production fell 5% in North America and 7% in China. Tariffs, price concessions to car makers and the end of some programs put pressure on sales and margins, and the Complete Vehicles business depends on a few contracts.

Investors fear that car makers produce fewer vehicles in 2027 and that Magna cannot keep its recent margin gains. For the gap to close, three things must be true. Magna must reach its 2026 outlook of October 30, 2026: an Adjusted EBIT margin of 6.3% to 6.5% and free cash flow of $1.85 billion to $1.90 billion. It must recover most tariff costs from its customers.

Its 2027 outlook, which it usually gives in February, must show further margin growth even if vehicle production stays flat. At its Investor Day on November 11, 2026, Magna set 2030 targets for at least 200 basis points of margin gain and adjusted EPS growth of at least 15% a year. The 2027 outlook, expected with the Q4 2026 report in early 2027, gives the next evidence. If these checks pass, the gap can close over the next three to five quarters.

The main reason it may not close is a fall in vehicle production, which lowers volume and margins at the same time.

1. Oct 30, 2026Passed

   Q3 2026 earnings: margin outlookResults that keep the 6.3% to 6.6% Adjusted EBIT margin outlook and the free cash flow outlook pass; a cut to the outlook fails.Outcome: Magna kept the midpoint of its adjusted EPS outlook, raised free cash flow to $1.85 billion to $1.90 billion, and narrowed the margin outlook to 6.3% to 6.5%.
2. Nov 11, 2026Passed

   Investor Day: longer-term outlookLonger-term targets for higher margins and strong cash returns pass; targets that show lower margins fail.Outcome: Magna set 2030 targets of at least 200 basis points of Adjusted EBIT margin gain, adjusted EPS growth of at least 15% a year and free cash flow of at least 85% of adjusted net income.
3. Jan 30, 2027 · est.Pending

   Q4 2026 results and 2027 outlookAn outlook for a higher Adjusted EBIT margin in 2027 passes; a lower margin outlook because of weak production fails.

Every passed and failed checkpoint across all picks

• November 11, 2026Magna held its Investor Day and set targets through 2030. Organic sales growth is to be 2% to 4% above the market each year. The Adjusted EBIT margin is to rise by at least 200 basis points from 2026 to 2030. Adjusted EPS is to grow at least 15% a year. Free cash flow is to be at least 85% of adjusted net income on average from 2027 to 2030, and adjusted ROIC is to be above 15% by 2030. Magna said that more than 90% of its expected 2028 sales and more than 60% of its expected 2030 sales come from existing business and awarded programs.
• November 5, 2026The Toronto Stock Exchange accepted Magna's notice to renew its normal course issuer bid. Magna may buy back up to 25,778,000 shares, about 10% of its public float, from November 9, 2026, to no later than November 8, 2027.
• October 30, 2026Magna reported Q3 2026 results. Sales fell 4% to $10.1 billion because of lower vehicle production and the divestitures. Adjusted EBIT rose 11% to $683 million, a margin of 6.8%, and adjusted EPS rose 38% to $1.83. Free cash flow was $584 million. Magna lowered its 2026 sales outlook to $41.2 billion to $42.0 billion, narrowed its Adjusted EBIT margin outlook to 6.3% to 6.5%, set adjusted EPS at $6.85 to $7.15 and raised free cash flow to $1.85 billion to $1.90 billion.

Last earnings

October 30, 2026

Next earnings

Expected about January 30, 2027. The company has not confirmed the date.

• 40-FAnnual report for the period ended Dec 31, 2025Filed March 27, 2026 · Read it on sec.gov
• 40-FAnnual report for the period ended Dec 31, 2024Filed March 28, 2025 · Read it on sec.gov

Every filing on SEC EDGAR (CIK 749098)

• Magna's sales depend on how many vehicles car makers build. Lower production in North America, Europe or China lowers volume and margins.
• Tariffs raise costs. Magna recovered tariff costs from customers in Q2 and Q3 2026, but if recoveries are late or smaller, margins fall.
• Car makers ask for price concessions every year, and some programs end. Magna must win new programs and cut costs to keep its margins.
• Complete vehicle assembly depends on a few contracts. Lower assembly volumes and lower engineering revenue reduced sales in the first nine months of 2026.

At September 30, 2026, long-term debt was $4.63 billion, of which $709 million was due within one year, mainly the €600 million notes due in September 2027. Operating lease liabilities were $1.80 billion more. Read more

Yield at the current rate

3.2% (current annual rate, at today’s price)

Dividend yield

2.4% (last 12 months, at today’s price of $62.68)

Paid per share

$1.485 in the last 12 months (3 payments)

Current annual rate

$1.98 ($0.495 × 4 a year)

Latest ex-dividend date

August 14, 2026, $0.495 per share

Fewer payments or a raise. The last 12 months paid at least 25% less than the current annual rate. A payment may fall just outside the 12 months, or the company may have raised its dividend.

Dividends per share by year

From 2020 to 2025, the dividend fell by about 1.9% a year. From 2015 to 2025, the dividend grew by about 5.2% a year.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.