| Stage | BWA | % of rev | GTX | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $3.5B | 100.00% | $930M | 100.00% | BWA ×3.75 |
| Gross profit | $662M | 18.98% | $206M | 22.15% | GTX +3.2pp |
| Operating income | $302M | 8.66% | $148M | 15.91% | GTX +7.3pp |
| Pre-tax income | $298M | 8.55% | $119M | 12.80% | GTX +4.2pp |
| Net income | $233M | 6.68% | $97M | 10.43% | GTX +3.7pp |
| Stage | BWA | GTX | Gap · A − B |
|---|---|---|---|
| Revenue | $3.5B100.00% | $930M100.00% | BWA ×3.75 |
| Gross profit | 18.98%$662M | 22.15%$206M | GTX +3.2pp |
| Operating income | 8.66%$302M | 15.91%$148M | GTX +7.3pp |
| Pre-tax income | 8.55%$298M | 12.80%$119M | GTX +4.2pp |
| Net income |
| 6.68%$233M |
| 10.43%$97M |
| GTX +3.7pp |
BWA 10-KFeb 6 '25
“All three of our primary North American customers, Ford, Stellantis, and General Motors, have major union contracts with the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (or "UAW").”
GTX 10-KFeb 19 '26
“Our largest customer is Stellantis N.V. ("Stellantis"). In 2025, 2024 and 2023, our sales to Stellantis accounted for 12%, 9% and 9%, respectively, of our total sales.”
BWA 10-KFeb 6 '25
“Our worldwide sales in 2024 to Ford and Volkswagen constituted approximately 13% and 10% of our 2024 consolidated net sales, respectively.”
GTX 10-KFeb 19 '26
“In 2025, 2024 and 2023, our sales to Ford Motor Company ("Ford"), our third largest customer, were 11%, 10%, and 9%, respectively, of our total sales.”