Garrett Motion Inc.

garrettmotion.com

What Do They Do?

Sells turbochargers, air and fluid compressors, and high-speed electric motors to vehicle and industrial manufacturers and aftermarket distributors.

How Do They Make Money?

OEMs and aftermarket buyers purchase Garrett products; most sales are tied to goods shipped under agreed shipping terms, and most related advances or unbilled amounts settle within 3 months.

FY2025 revenue

Who Are Their Customers?

Vehicle and industrial OEMs are supplied with products for vehicles and equipment; independent aftermarket distributors carry Garrett products to garages and repair shops.

Do Revenues Turn Into Profits?

Yes. It kept 9 cents of every revenue dollar as net income in FY2025 and turned 10 cents into free cash flow.

Operating income, FY2025

14% of revenue

▲ +6% vs FY2024 ($465M, 13%)

Net income, FY2025

9% of revenue

▲ +10% vs FY2024 ($282M, 8%)

Free cash flow, FY2025

10% of revenue

▲ +8% vs FY2024 ($317M, 9%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +7%; vs $913M in Q2 FY2025
Net income: ▲ +16%; vs $87M in Q2 FY2025

Flat. Revenue was $3.6B in FY2025, about the same as the $3.6B of FY2021.

Broader industrial applications The older report focused on vehicle turbocharging, electric boosting and automotive software; the latest also describes air and refrigerant compression for industrial uses such as commercial HVAC and data center cooling.

Fuel-cell compressors at scale The older report described fuel-cell compressors as part of ongoing development; the latest says hydrogen fuel-cell air-compression products are already manufactured at scale.

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