Cooper-Standard Set for Significant Growth Amid Auto Industry Recovery
Cooper-Standard Set for Significant Growth Amid Auto Industry Recovery
在汽车 行业板块 复苏中，Cooper-Standard预计将实现显著增长。
Thesis: Cooper-Standard (NYSE:CPS) is an auto parts supplier focused on sealing systems, fuel/brake delivery, and fluid transfer systems. The company was severely impacted by the downturn in new car volumes from 2018 to 2022 due to chip shortages, with revenues declining from $3.8 billion in 2017 to $2.3 billion in 2021. However, revenue has begun to rebound, reaching $2.8 billion in sales for 2023. In my view, CPS is just at the starting line; as car volumes revert to normalized levels, operating leverage will be significant, as detailed in the valuation section.
论文：Cooper-Standard（纽约证券交易所代码：CPS）是一家汽车零部件供应商，专注于密封系统、燃油/制动器输送和流体传输系统。由于芯片短缺，该公司受到2018年至2022年新车销量下降的严重影响，收入从2017年的38亿美元下降到2021年的23亿美元。但是，收入已开始反弹，2023年销售额达到28亿美元。在我看来，CPS只是起跑线；正如估值部分所详述的那样，随着汽车销量恢复到正常水平，运营杠杆率将非常可观。
Thesis is based upon:
论文的依据是：
Pent-up demand and an aging vehicle fleet: Combined...
被压抑的需求和车队...
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