STRATTEC SECURITY CORPORATION (STRT) Financial Statements (2024 and earlier)

Company Profile

Business Address 3333 WEST GOOD HOPE ROAD
MILWAUKEE, WI 53209
State of Incorp. WI
Fiscal Year End June 30
Industry (SIC) 3714 - Motor Vehicle Parts and Accessories (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
MRQ
6/30/2023
6/30/2022
6/30/2021
6/30/2020
6/30/2019
6/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments20,5718,77414,46511,7747,8098,090
Cash and cash equivalents20,5718,77414,46511,7747,8098,090
Receivables89,81175,82769,90241,95584,23073,832
Inventory, net of allowances, customer advances and progress billings77,59780,48270,86054,40047,26246,654
Inventory77,59780,48270,86054,40047,26246,654
Other current assets6,3809,8296,3905,5596,9846,454
Other undisclosed current assets31,42313,32013,28711,68010,34716,073
Total current assets:225,782188,232174,904125,368156,632151,103
Noncurrent Assets
Property, plant and equipment94,44691,72996,401105,148118,120116,542
Long-term investments and receivables  26,34427,22422,06823,52822,192
Long-term investments  26,34427,22422,06823,52822,192
Deferred income tax assets13,6196,9375,0526,490
Other noncurrent assets7,0835,4386,9826,47111,52317,338
Other undisclosed noncurrent assets     2,933 
Total noncurrent assets:115,148130,448135,659140,177156,104156,072
TOTAL ASSETS:340,930318,680310,563265,545312,736307,175
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities107,59697,99076,18246,88177,98567,502
Employee-related liabilities17,90522,48313,49817,33913,393
Accounts payable57,92743,95036,72718,54941,88938,439
Accrued liabilities49,66936,13516,97214,83418,75715,670
Debt      
Accrued environmental loss contingencies 1,3901,3901,3901,2591,2781,291
Other undisclosed current liabilities  (17,905)    
Total current liabilities:108,98681,47577,57248,14079,26368,793
Noncurrent Liabilities
Long-term debt and lease obligation 13,00011,00012,00035,00042,00051,000
Long-term debt, excluding current maturities 13,00011,00012,00035,00042,00051,000
Liabilities, other than long-term debt7,9205,7927,5586,9643,6574,136
Deferred tax liabilities, net 961
Liability, pension and other postretirement and postemployment benefits2,3631,7222,9331,9562,4252,379
Other liabilities5,5574,0704,6255,0081,232796
Total noncurrent liabilities:20,92016,79219,55841,96445,65755,136
Total liabilities:129,90698,26797,13090,104124,920123,929
Equity
Equity, attributable to parent184,963188,866181,646152,222163,388162,158
Common stock757574747373
Treasury stock, value(135,526)(135,580)(135,615)(135,656)(135,725)(135,778)
Additional paid in capital100,309101,52499,51297,97796,49195,140
Accumulated other comprehensive loss(14,194)(18,657)(16,797)(22,113)(18,568)(33,439)
Retained earnings234,299241,504234,472211,940221,117236,162
Equity, attributable to noncontrolling interest26,06131,54731,78723,21924,42821,088
Total equity:211,024220,413213,433175,441187,816183,246
TOTAL LIABILITIES AND EQUITY:340,930318,680310,563265,545312,736307,175

Income Statement (P&L) ($ in thousands)

12/31/2023
TTM
6/30/2023
6/30/2022
6/30/2021
6/30/2020
6/30/2019
6/30/2018
Revenues492,946452,265485,295385,300487,006439,195
Cost of revenue
(Cost of Goods and Services Sold)
(450,794)(396,249)(406,637)(349,854)(429,206)(384,752)
Gross profit:42,15256,01678,65835,44657,80054,443
Operating expenses(48,241)(47,119)(44,743)(44,108)(47,186)(41,168)
Operating income (loss):(6,089)8,89733,915(8,662)10,61413,275
Nonoperating income (expense)(2,178)423(1,165)1,668(337)1,020
Investment income, nonoperating      
Gain (loss), foreign currency transaction, before tax(2,935)237(2,445)1,982(397)549
Other nonoperating income (expense)255233111,05579(149)
Interest and debt expense(960)(221)(302)(920)(1,615)(1,137)
Income (loss) from continuing operations before equity method investments, income taxes:(9,227)9,09932,448(7,914)8,66213,158
Income (loss) from equity method investments1,5591812,560(209)2,7834,532
Other undisclosed income (loss) from continuing operations before income taxes    (31,878)8
Income (loss) from continuing operations before income taxes:(7,668)9,28035,008(8,123)(20,433)17,698
Income tax expense (benefit)(1,281)(420)(5,111)2,2667,740(2,070)
Income (loss) from continuing operations:(8,949)8,86029,897(5,857)(12,693)15,628
Income (loss) before gain (loss) on sale of properties:8,86029,897(5,857)(12,693)15,628
Net income (loss):(8,949)8,86029,897(5,857)(12,693)15,628
Net income (loss) attributable to noncontrolling interest2,279(1,828)(7,365)(1,748)(4,336)(3,345)
Net income (loss) available to common stockholders, diluted:(6,670)7,03222,532(7,605)(17,029)12,283

Comprehensive Income ($ in thousands)

12/31/2023
TTM
6/30/2023
6/30/2022
6/30/2021
6/30/2020
6/30/2019
6/30/2018
Net income (loss):(8,949)8,86029,897(5,857)(12,693)15,628
Other comprehensive income (loss)6,853(2,128)7,009(5,522)19,306(1,617)
Comprehensive income (loss):(2,096)6,73236,906(11,379)6,61314,011
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(180)(1,560)(9,058)229(4,724)(2,279)
Comprehensive income (loss), net of tax, attributable to parent:(2,276)5,17227,848(11,150)1,88911,732

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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