Garrett Motion Inc. (GTX) financial statements: income statement, balance sheet and cash flow

Garrett Motion Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Garrett Motion Inc. reported revenue of $3.6B (+3.1% year on year) and net income of $310.0M (+9.9% year on year).

Income statement

Garrett Motion Inc. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net sales (Note 3)	$3.6B	$3.5B	$3.9B	$3.6B
Cost of goods sold	$2.9B	$2.8B	$3.1B	$2.9B
Gross profit	$731.0M	$705.0M	$756.0M	$683.0M
Selling, general and administrative expenses	$240.0M	$240.0M	$247.0M	$216.0M
Other expense, net (Note 4)	$10.0M	$6.0M	$5.0M	$2.0M
Interest expense	$108.0M	$156.0M	$159.0M	$82.0M
Gain on sale of equity investment (Note 26)	$0	($27.0M)	—	—
Non-operating income, net (Note 5)	($19.0M)	($13.0M)	—	—
Income before taxes	$392.0M	$343.0M	$347.0M	$496.0M
Tax expense (Note 6)	$82.0M	$61.0M	$86.0M	$106.0M
Net income	$310.0M	$282.0M	$261.0M	$390.0M
Less: preferred stock dividends (Note 19)	$0	$0	($80.0M)	($157.0M)
Less: preferred stock deemed dividends (Note 19)	$0	$0	($232.0M)	—
Net income (loss) available for distribution	$310.0M	$282.0M	($51.0M)	$233.0M
Earnings (loss) per share, basic (in USD per share)	$1.55	$1.27	-$0.31	$0.75
Earnings (Loss) per share, diluted (in USD per share)	$1.52	$1.26	-$0.31	$0.75
Weighted average common shares outstanding, basic (in shares)	199.8M	222.3M	166.6M	64.7M
Weighted average common shares outstanding, diluted (in shares)	203.6M	224.1M	166.6M	65.1M

Garrett Motion Inc. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net sales (Note 3)	$976.0M	$985.0M	$902.0M	$913.0M
Cost of goods sold	$764.0M	$789.0M	$716.0M	$732.0M
Gross profit	$212.0M	$196.0M	$186.0M	$181.0M
Selling, general and administrative expenses	$63.0M	$58.0M	$57.0M	$59.0M
Other expense, net	$1.0M	$1.0M	$1.0M	$1.0M
Interest expense	$24.0M	$27.0M	$29.0M	$25.0M
Non-operating income, net	($2.0M)	($8.0M)	($3.0M)	($6.0M)
Income before taxes	$126.0M	$118.0M	$102.0M	$102.0M
Tax expense (Note 5)	$25.0M	$23.0M	$25.0M	$15.0M
Net income	$101.0M	$95.0M	$77.0M	$87.0M
Earnings per common share, basic (in USD per share)	$0.54	$0.50	$0.39	$0.43
Earnings per common share, diluted (in USD per share)	$0.53	$0.49	$0.38	$0.42
Weighted average common shares outstanding, basic (in shares)	187.3M	189.2M	198.7M	202.7M
Weighted average common shares outstanding, diluted (in shares)	190.6M	193.2M	202.2M	205.3M

Balance sheet

Garrett Motion Inc. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$177.0M	$125.0M	$259.0M	$246.0M
Restricted cash (Note 2)	$2.0M	$1.0M	$1.0M	$2.0M
Accounts, notes and other receivables, net (Note 7)	$703.0M	$687.0M	$808.0M	$803.0M
Inventories, net (Note 9)	$339.0M	$286.0M	$263.0M	$270.0M
Other current assets (Note 10)	$98.0M	$94.0M	$75.0M	$110.0M
Total current assets	$1.3B	$1.2B	$1.4B	$1.4B
Investments and long-term receivables	$11.0M	$10.0M	$29.0M	$30.0M
Property, plant and equipment, net (Note 12)	$462.0M	$449.0M	$477.0M	$470.0M
Goodwill (Note 13)	$193.0M	$193.0M	$193.0M	$193.0M
Deferred income taxes (Note 6)	$210.0M	$207.0M	$216.0M	$232.0M
Other assets (Note 11)	$172.0M	$224.0M	$206.0M	$281.0M
Total assets	$2.4B	$2.3B	$2.5B	$2.6B
Accounts payable	$1.1B	$972.0M	$1.1B	$1.0B
Current maturities of long-term debt (Note 15)	$7.0M	$7.0M	$7.0M	$7.0M
Accrued liabilities (Note 14)	$295.0M	$299.0M	$293.0M	$320.0M
Total current liabilities	$1.4B	$1.3B	$1.4B	$1.4B
Long-term debt (Note 15)	$1.4B	$1.5B	$1.6B	$1.1B
Deferred income taxes (Note 6)	$32.0M	$25.0M	$27.0M	$25.0M
Other liabilities (Note 18)	$363.0M	$182.0M	$218.0M	$205.0M
Total liabilities	$3.2B	$2.9B	$3.3B	$2.8B
Common Stock, par value $0.001; 1,000,000,000 and 1,000,000,000 shares authorized, 242,549,685 and 240,987,329 issued and 190,556,297 and 206,387,938 outstanding as of December 31, 2025 and 2024, respectively	0	0	0	0
Additional paid-in capital	$1.2B	$1.2B	$1.2B	$1.3B
Retained deficit	($1.4B)	($1.7B)	($1.9B)	($1.5B)
Accumulated other comprehensive (loss) income (Note 20)	($138.0M)	$73.0M	($3.0M)	$36.0M
Treasury Stock, at cost; 51,993,388 and 34,599,391 shares as of December 31, 2025 and 2024, respectively (Note 19)	-520.0M	-306.0M	—	—
Total deficit	($802.0M)	($673.0M)	($735.0M)	($116.0M)
Total liabilities and deficit	$2.4B	$2.3B	$2.5B	$2.6B

Garrett Motion Inc. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$158.0M	$142.0M	$230.0M	$232.0M
Restricted cash	$2.0M	$2.0M	$2.0M	$1.0M
Accounts, notes and other receivables – net (Note 6)	$836.0M	$810.0M	$719.0M	$721.0M
Inventories – net (Note 8)	$350.0M	$313.0M	$320.0M	$287.0M
Other current assets (Note 9)	$124.0M	$108.0M	$109.0M	$122.0M
Total current assets	$1.5B	$1.4B	$1.4B	$1.4B
Investments and long-term receivables	$10.0M	$11.0M	$11.0M	$11.0M
Property, plant and equipment – net	$426.0M	$437.0M	$452.0M	$458.0M
Goodwill	$193.0M	$193.0M	$193.0M	$193.0M
Deferred income taxes	$207.0M	$184.0M	$247.0M	$241.0M
Other assets (Note 10)	$167.0M	$173.0M	$153.0M	$137.0M
Total assets	$2.5B	$2.4B	$2.4B	$2.4B
Accounts payable	$1.1B	$1.1B	$1.0B	$1.0B
Current maturities of long-term debt (Note 15)	$7.0M	$7.0M	$7.0M	$7.0M
Accrued liabilities (Note 12)	$325.0M	$322.0M	$330.0M	$307.0M
Total current liabilities	$1.5B	$1.4B	$1.4B	$1.3B
Long-term debt (Note 15)	$1.4B	$1.4B	$1.5B	$1.5B
Deferred income taxes	$35.0M	$34.0M	$54.0M	$56.0M
Other liabilities (Note 13)	$286.0M	$304.0M	$376.0M	$380.0M
Total liabilities	$3.1B	$3.2B	$3.2B	$3.2B
Common Stock, par value $0.001; 1,000,000,000 and 1,000,000,000 shares authorized, 245,457,621 and 242,549,685 issued and 186,800,685 and 190,556,297 outstanding as of June 30, 2026 and December 31, 2025, respectively	0	0	0	0
Additional paid–in capital	$1.3B	$1.2B	$1.2B	$1.2B
Retained deficit	($1.2B)	($1.3B)	($1.5B)	($1.5B)
Accumulated other comprehensive loss (Note 18)	($54.0M)	($98.0M)	($146.0M)	($159.0M)
Treasury Stock, at cost; $58,666,936 and 51,993,388 shares as of June 30, 2026 and December 31, 2025, respectively (Note 16)	-655.0M	-625.0M	-447.0M	-362.0M
Total deficit	($675.0M)	($781.0M)	($813.0M)	($812.0M)
Total liabilities and deficit	$2.5B	$2.4B	$2.4B	$2.4B

Cash flow statement

Garrett Motion Inc. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$310.0M	$282.0M	$261.0M	$390.0M
Deferred income taxes	$9.0M	$7.0M	$24.0M	$46.0M
Depreciation	$99.0M	$90.0M	$90.0M	$84.0M
Amortization of deferred debt issuance costs	$7.0M	$37.0M	$20.0M	—
Loss on remeasurement of forward purchase contract	$0	$0	$13.0M	—
Gain on sale of equity investment (Note 26)	$0	($27.0M)	—	—
Foreign exchange (gain) loss	($66.0M)	$27.0M	($15.0M)	($1.0M)
Stock compensation expense	$27.0M	$23.0M	$14.0M	$11.0M
Pension expense	($8.0M)	($6.0M)	($1.0M)	($28.0M)
Unrealized loss (gain) on derivatives	$73.0M	($2.0M)	$51.0M	($65.0M)
Other	$10.0M	($6.0M)	$7.0M	$1.0M
Accounts, notes and other receivables	$22.0M	$89.0M	$1.0M	($102.0M)
Inventories	($35.0M)	($48.0M)	$12.0M	($48.0M)
Other assets	($18.0M)	($25.0M)	($2.0M)	$34.0M
Accounts payable	$8.0M	($52.0M)	$8.0M	$108.0M
Accrued liabilities	($46.0M)	$26.0M	($8.0M)	($17.0M)
Other liabilities	$21.0M	($7.0M)	($10.0M)	($32.0M)
Net cash provided by operating activities	$413.0M	$408.0M	$465.0M	$375.0M
Expenditures for property, plant and equipment	($72.0M)	($91.0M)	($83.0M)	($91.0M)
Proceeds from cross-currency swap contracts	$28.0M	$31.0M	$28.0M	—
Proceeds from sale of equity investment	$3.0M	$46.0M	—	—
Net cash used for investing activities	($41.0M)	($14.0M)	($55.0M)	($91.0M)
Proceeds from issuance of long-term debt, net of deferred financing costs	$80.0M	$794.0M	$667.0M	$0
Proceeds from revolving credit facilities	$70.0M	—	—	$0
Payments of long-term debt	($139.0M)	($992.0M)	($207.0M)	($7.0M)
Payments of revolving credit facilities	($70.0M)	—	$0	$0
Payments for dividends	($52.0M)	$0	($42.0M)	($83.0M)
Repurchases of Series A Preferred Stock	$0	$0	($580.0M)	—
Repurchases of Common Stock	($208.0M)	($296.0M)	($213.0M)	—
Excise tax on Common Stock repurchase	($3.0M)	($8.0M)	—	—
Payments of Additional Amounts for conversion of Series A Preferred Stock	$0	$0	($25.0M)	—
Payments for debt and revolving facility financing costs	($2.0M)	($8.0M)	($2.0M)	($4.0M)
Other	($2.0M)	($10.0M)	($1.0M)	$0
Net cash used for financing activities	($326.0M)	($520.0M)	($403.0M)	($482.0M)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	$7.0M	($8.0M)	$5.0M	($18.0M)
Net increase (decrease) in cash, cash equivalents and restricted cash	$53.0M	($134.0M)	$12.0M	($216.0M)
Cash, cash equivalents and restricted cash at beginning of period	$126.0M	$260.0M	$248.0M	$464.0M
Cash, cash equivalents and restricted cash at end of period	$179.0M	$126.0M	$260.0M	$248.0M
Income taxes paid (net of refunds and credits)	$62.0M	$64.0M	$60.0M	$42.0M
Interest paid	$95.0M	$88.0M	$89.0M	$65.0M
Dividends declared, not paid	$0	$13.0M	—	—

Garrett Motion Inc. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$196.0M	$95.0M	$226.0M	$149.0M
Deferred income taxes	$10.0M	$5.0M	($8.0M)	($3.0M)
Depreciation	$49.0M	$25.0M	$70.0M	$45.0M
Amortization of deferred issuance costs	$3.0M	$1.0M	$5.0M	$3.0M
Foreign exchange loss (gain)	$17.0M	$13.0M	($66.0M)	—
Stock compensation expense	$14.0M	$7.0M	$19.0M	$13.0M
Pension expense	$0	—	$1.0M	$1.0M
Unrealized (gain) loss on derivatives	($37.0M)	($11.0M)	$75.0M	$81.0M
Other	$8.0M	$2.0M	$10.0M	$4.0M
Accounts, notes and other receivables	($137.0M)	($112.0M)	$4.0M	$8.0M
Inventories	($23.0M)	$17.0M	($17.0M)	$20.0M
Other assets	$5.0M	($7.0M)	($14.0M)	($7.0M)
Accounts payable	$109.0M	$48.0M	($2.0M)	($13.0M)
Accrued liabilities	$12.0M	$19.0M	($10.0M)	($44.0M)
Other liabilities	$17.0M	($4.0M)	$21.0M	$22.0M
Net cash provided by operating activities	$243.0M	$98.0M	$314.0M	$214.0M
Expenditures for property, plant and equipment	($46.0M)	($29.0M)	($51.0M)	($41.0M)
Proceeds from cross-currency swap contracts	$8.0M	$3.0M	$21.0M	$15.0M
Net cash used for investing activities	($38.0M)	($26.0M)	($27.0M)	($26.0M)
Proceeds from issuance of long-term debt, net of debt financing costs	$56.0M	$0	$80.0M	$68.0M
Payments of long-term debt	($110.0M)	($2.0M)	($87.0M)	($73.0M)
Repurchases of Common Stock	($115.0M)	($87.0M)	($136.0M)	($52.0M)
Excise tax on Common Stock repurchase	($1.0M)	—	($3.0M)	($3.0M)
Dividend payments	($31.0M)	($16.0M)	($36.0M)	($25.0M)
Withholdings on shares issued under stock plan	-20.0M	—	—	—
Payments for debt and revolving facility financing costs	$0	$0	($2.0M)	($2.0M)
Other	($1.0M)	$0	($3.0M)	($2.0M)
Net cash used for financing activities	($222.0M)	($105.0M)	($187.0M)	($89.0M)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	($2.0M)	($2.0M)	$6.0M	$8.0M
Net (decrease) increase in cash, cash equivalents and restricted cash	($19.0M)	($35.0M)	$106.0M	$107.0M
Cash, cash equivalents and restricted cash at beginning of the period	$179.0M	$179.0M	$126.0M	$126.0M
Cash, cash equivalents and restricted cash at end of the period	$160.0M	$144.0M	$232.0M	$233.0M

Garrett Motion Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.