2024-04-15 06:00:00 ET
Summary
- Magna International is one of the world’s largest manufacturers of OEM components for various automakers with a $15 billion market cap.
- To date, Magna has increased its dividend for 15 consecutive years with a 10-year dividend growth rate of 11.1%.
- MGA stock’s yield has risen to 3.8%, which is 110 basis points higher than its five-year average.
- Magna bumped its revenue from $34.4 billion in FY 2014 to $42.8 billion in FY 2023, a compound annual growth rate of 2.5%.
Magna International Inc. (MGA) is a multinational mobility solutions and technology company for automakers that designs, develops, and manufactures automotive systems, assemblies, modules, and components. Founded in 1957, Magna is now a $15 billion (by market cap) major manufacturer that employs nearly 180,000 people.
FY 2023 revenue can be broken down by product category: Body Exteriors & Structures, 41%; Power & Vision, 33%; Seating Systems, 14%; and Complete Vehicles, 13%. The small Corporate & Other segment reconciles the remainder....
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Magna International: A Global Automotive Supplier Currently On An Upswing