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Overview
Strattec designs and delivers secure, engineered access solutions for cars and mobility products. Working with automotive OEMs, it creates system-level access experiences across the full access journey, from secure entry to powered access and robust latches. Its offerings include Permission (secure vehicle entry via mechanical and electronic systems), Motion (reliable, automated access), and Hold (precision latching hardware). Strattec differentiates itself through generations of access and security engineering expertise, deep OEM collaboration, and a focus on safe, durable, and highly engineered components trusted worldwide. The company aims to support long-term growth in global automotive and mobility markets as access becomes more intelligent, connected, and central to the vehicle experience.
About Strattec
Industries
Automotive & Transportation
Hardware
Industrial & Manufacturing
Company Size
501-1,000
Company Stage
IPO
Headquarters
Milwaukee, Wisconsin
Founded
1995
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Simplify's Take
What believers are saying
- May 2026 gross margin reached 16.5%, helped by $1.9 million quarterly restructuring savings.
- Strattec generated $11.4 million operating cash flow in Q3 fiscal 2026 and held $107 million cash.
- The $40 million repurchase program, announced May 28, 2026, signals confidence and supports EPS.
What critics are saying
- EV program cancellations already cut roughly $9 million annually, hitting growth into 2027.
- Ford and Hyundai-Kia volumes declined in 2026, exposing Strattec to OEM concentration risk.
- If OEMs insource access systems, Strattec loses content per vehicle and margins compress quickly.
What makes Strattec unique
- Strattec owns OEM-integrated vehicle access hardware, software, and authorization engineering across platforms.
- Its cash-rich balance sheet and low debt fund restructuring, buybacks, and customer tooling.
- Management is repositioning Strattec around digital keys, power access, and higher-value latching systems.
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Company News
Strattec to present at the East Coast IDEAS Investor Conference. MILWAUKEE-(BUSINESS WIRE)-Strattec (Nasdaq: STRT), a global provider of highly engineered access solutions for the automotive and mobility industries, today announced that Jennifer Slater, President & CEO, and Matthew Pauli, Chief Financial Officer, will present and host investor meetings at the East Coast IDEAS Investor Conference on Wednesday, June 10, 2026. The Strattec presentation is scheduled to begin at 1:20 p.m. Eastern Time. A live audio webcast of the event with accompanying slides will be available at STRT Investor Relations. An archive of the presentation will be available at the same link following the conference. ABOUT STRATTEC Strattec is a global automotive access company that designs and delivers safe, secure, and highly engineered access solutions for the automotive and mobility industries. Built on generations of access and security engineering expertise, Strattec partners closely with OEMs to create differentiated, system level access experiences for end consumers. Strattec's portfolio spans the access journey from Permission, enabling secure vehicle entry through advanced mechanical and electronic systems; to Motion, delivering effortless, reliable powered access that enhances everyday usability; and through to Hold, providing precision-engineered latching solutions that give drivers confidence through proven strength, safety, and durability trusted by OEMs worldwide. As access becomes increasingly intelligent, connected, and central to vehicle experience, Strattec's strategy is to expand its market share, further diversify its customers and geographic reach while becoming the most trusted access partner to drive long term growth across global automotive and mobility markets. For more information, visit www.strattec.com. Contacts. Investor Contact: Deborah K. Pawlowski, IRC Alliance Advisors IR Phone: 716-843-3908 Email: [email protected] More News From Strattec MILWAUKEE-( BUSINESS WIRE )-Strattec (Nasdaq: STRT) Announces New $40 Million Share Repurchase Program... MILWAUKEE-( BUSINESS WIRE )-For Third Quarter Fiscal 2026, Strattec (Nasdaq: STRT) Continued To Advance Transformation Efforts To Strengthen Business Performance... MILWAUKEE-( BUSINESS WIRE )-Strattec (Nasdaq: STRT) Announces Fiscal 2026 Third Quarter Financial Results Conference Call and Webcast...
Strattec Security reported lower third-quarter fiscal 2026 sales but improved gross margin and strong cash generation, as restructuring actions supported profitability despite softer automotive production. The company generated $11.4 million in operating cash flow and ended the period with $107 million in cash. Sales declined 4.5% year-over-year, reflecting lower volume and electric vehicle programme cancellations totalling approximately $9 million annually. The largest customer declines were with Ford and Hyundai Kia, both down slightly over 10%. Gross margin improved 50 basis points to 16.5%, whilst restructuring actions generated $1.9 million in quarterly savings. CEO Jennifer Slater said previously completed restructuring measures are approaching peak benefit levels as the company begins to lap earlier actions.
Strattec Security has unveiled a rebrand as part of an ongoing business transformation, according to CEO Jennifer, who joined in July 2024. The automotive access products manufacturer, public since 1995, produces components including power latches, key fobs and liftgate systems. The company is pursuing four strategic initiatives: team and culture development, operational excellence, cost structure optimisation and process modernisation. Strattec has captured $8 million in pricing gains for 2025 and is exploring customer diversification in North America. Operating from Milwaukee headquarters and facilities across Mexico, the company characterised its transformation as in "early innings". Leadership said the rebrand aims to clarify Strattec's value proposition to customers who previously had limited recognition of the company's offerings, whilst longer-term priorities include potential M&A in complementary areas.
Strattec Security has raised $120 million in a Series C round led by Ribbit Capital, valuing the automotive components supplier at $1.45 billion. The Milwaukee-based company, which makes vehicle access control products, has seen its shares surge 78% over the past year. In second-quarter fiscal 2026, sales rose 6% year over year to $137.5 million, whilst adjusted earnings per share jumped to $1.71 from 65 cents. Gross margin expanded 330 basis points to 16.5%. The company generated $13.9 million in operating cash flow last quarter and ended with $99 million in cash against just $2.5 million in debt. Management expects about $40 million in operating cash flow for fiscal 2026. Strattec is shifting towards higher-value products including power access systems and digital key solutions.
Strattec Security, a profitable automotive security components manufacturer, has demonstrated strong financial performance with compound annual earnings per share growth of 46% over three years. The company reported revenue growth of 6.8% to $578 million whilst maintaining stable EBIT margins. The NASDAQ-listed firm benefits from significant insider ownership, with company leaders holding shares worth $26 million, representing over 7.9% of the company. This substantial stake indicates strong alignment between management and shareholder interests. Whilst the company's rapid EPS growth rate may not be sustainable long-term, Strattec Security's combination of profitability, revenue growth and insider commitment makes it an interesting prospect for investors seeking companies with solid fundamentals rather than speculative growth stories.
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About Strattec
Industries
Automotive & Transportation
Hardware
Industrial & Manufacturing
Company Size
501-1,000
Company Stage
IPO
Headquarters
Milwaukee, Wisconsin
Founded
1995
Strattec is Hiring for 31 Jobs on Simplify!
Find jobs on Simplify and start your career today