TRW

TRW Automotive Holdings Corp.

Industrial/Transportation


Presented:05/15/2014
Price:$79.68
Cap:$8.83B
Current Price:$105.46
Cap:$12.18B

Presented

Date05/15/2014
Price$79.68
Market Cap$8.83B
Ent Value$10.11B
P/E Ratio41.11x
Book Value$33.54
Div YieldN/A
Shares O/S110.76M
Ave Daily Vol910,000
Short Int7.36%

Current

Price$105.46
Market Cap$12.18B
TRW Automotive Holdings Corp., together with its subsidiaries, supplies automotive systems, modules, and components to automotive original equipment manufacturers (OEMs) and related aftermarkets. The company operates through four segments: Chassis Systems, Occupant Safety Systems, Electronics, and Automotive Components. The Chassis Systems segment focuses on the design, manufacture, and sale of products and systems relating to braking, steering, modules, and linkage and suspension. The Occupant Safety Systems segment designs, manufactures, and sells products and systems relating to airbags, seat belts, and steering wheels. The Electronics segment is involved in the design, manufacture, and sale of electronics components and systems in the areas of safety, chassis, radio frequency, powertrain, and camera and radar-based driver assistance. The Automotive Components segment designs, manufactures, and sells body controls, engine valves, and engineered fasteners and components. The company offers its products for passenger cars, light trucks, and commercial vehicles primarily in North America, Europe, and Asia. It markets its products through OEM service organizations and independent distribution networks; and replacement parts to aftermarket worldwide. TRW Automotive Holdings Corp. was founded in 1904 and is based in Livonia, Michigan.

Public companies mentioned herein: TRW Automotive (TRW), General Motors (GM), Autoliv (ALV)

Highlights

TRW is $9 billion market cap auto supplier focused on automotive safety, including brakes, air bags and various high tech safety systems, such as automatic parking and lane changing alert systems. Previously a Blackstone LBO back in 2003, the company is led by one of the better, more financially sophisticated management teams in the space, in the opinion of the presenter. The company has had accelerated cap ex over the past couple of years from the build out of various manufacturing facilities in China, but the story sets up well for the back half of the year and into 2015 now that spending has slowed.

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Idea Discussion

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