# Sensata Technologies Holding NV (ST.US)

Canonical: https://gigainvestors.com/s/ST

Analysis as of: 2026-10-16T07:32:06.566Z. Financial observations: FY2007–FY2025.

Listing currency: USD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $41.31 per share; close as of 2026-10-15.

Estimated value: low $22.63 per share, central $25.44 per share, high $29.18 per share. Buy at or below the central value $25.44 per share. Valuation as of 2026-10-16T07:32:06.566Z; scenarios are not confidence intervals.

Expected annual return: 7.1% at the stated quote. About 7.1% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: pass

- 5 revenue declines in the last 10 years (informational)

- Financial history: 10 years

- Years with declining revenue: 5

- Years with a net loss: 1

- Operating margin variation: 0.28×

Chart: Operating margin; fiscal year observations.

- FY2016: 0.16×

- FY2017: 0.18×

- FY2018: 0.19×

- FY2019: 0.17×

- FY2020: 0.12×

- FY2021: 0.16×

- FY2022: 0.16×

- FY2023: 0.04×

- FY2024: 0.11×

- FY2025: 0.14×

### moat: pass

- ROIC, median of available years: 21.5%

- ROIC, second-lowest year: 15.6%

- Typical minus recent gross margin: 2.3 pp

- Typical gross margin (annual median): 29.4%

- Recent gross margin (lower of latest and 3-year median): 27.1%

- Years with nonpositive capital: 0

- Capital spending / revenue: 4.1%

- ROIC including acquisitions, ten-year median: 7.2%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2016: 22.0%

- FY2017: 31.6%

- FY2018: 31.5%

- FY2019: 21.0%

- FY2020: 20.8%

- FY2021: 24.9%

- FY2022: 22.3%

- FY2023: 5.0%

- FY2024: 15.6%

- FY2025: 16.9%

### economics: pass

- Owner earnings / net income, 5-yr: 1.78×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: $1.5B

- Net income, five-year total: $830M

- Return on incremental invested capital: >100%

- Working capital / revenue, annual change: 0.5 pp

- Working capital / revenue, change between three-year averages: 3.9 pp

- Working capital / revenue, final three-year average: 23.5%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2021: 1.32×

- FY2022: 1.42×

- FY2023: -30.30×

- FY2024: 2.20×

- FY2025: 5.00×

### management: fail

- Historical market-dollar context (not the management verdict): 2016 to 2025 (9 years)

- buybacks leaned toward cheaper years (informational)

- ROIC first 3 years vs last 3 years: 31.5% vs 15.6%

- Per-share earnings: 2.03 to 0.21 (three-year endpoint medians)

- per-share value declined or ends nonpositive

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 10-year annual growth: -1.5%

- Ordinary dilution, 5-year annual growth: -1.4%

- Market cap gain: -$1.8B

- Cumulative retained earnings: $1.7B

- Diluted shares, 10-year annual growth: -1.5%

- Diluted shares, 5-year annual growth: -1.4%

- $1 test, starting fiscal year: FY2016

- $1 test, ending fiscal year: FY2025

- Per-share value growth: -24.6%

- Per-share value change: -$1.81

- Per-share value, starting three-year median: $2.03

- Per-share value, ending three-year median: $0.21

- Buybacks concentrated in cheaper years (correlation): 0.20

- Average buyback yield: 2.1%

- Buyback history: 10 years

- Debt-funded buybacks: No

- Acquisition spending: $1.7B

- Cumulative net income, 10 years: $2.5B

- ROIC, first three-year median: 31.5%

- ROIC, last three-year median: 15.6%

Chart: Earnings per share; fiscal year observations.

- FY2016: $1.53

- FY2017: $2.37

- FY2018: $3.53

- FY2019: $1.75

- FY2020: $1.04

- FY2021: $2.28

- FY2022: $1.99

- FY2023: -$0.03

- FY2024: $0.85

- FY2025: $0.21

### accounting: pass

- Sloan accruals: -8.7%

- Receivables to sales index (DSRI): 1.06×

- Restructuring years, last five: 1

- Stock compensation / operating cash flow: 4.0%

- Earnings backed by cash: Yes

- Operating cash / earnings: 19.86×

- Accounting red flags: 0

- Goodwill and intangibles / equity: 1.28×

Chart: Sloan accruals; fiscal year observations.

- FY2016: -4.2%

- FY2017: -2.2%

- FY2018: -0.3%

- FY2019: -4.9%

- FY2020: -5.0%

- FY2021: -2.2%

- FY2022: -1.7%

- FY2023: -6.0%

- FY2024: -5.9%

- FY2025: -8.7%

## Holders

- [Richard Pzena](https://gigainvestors.com/PIM): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Arnold Van Den Berg](https://gigainvestors.com/VAN): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 33% since Dec 2021 · sales -5.9%

Story as of 2026-10-16T09:59:37.895Z; price observation 2026-10-15.

Price needs cash profits to grow 7.4% a year for ten years

- 2025-06-10: ST Q1 Earnings Call: Tariff Mitigation and Operational Changes Shape Outlook ([finance.yahoo.com](https://finance.yahoo.com/news/st-q1-earnings-call-tariff-084309458.html))

- 2025-07-29: Sensata Technologies (NYSE:ST) Q2 Sales Beat Estimates, Inventory Levels Improve ([finance.yahoo.com](https://finance.yahoo.com/news/sensata-technologies-nyse-st-q2-211134166.html))

- 2025-10-28: Sensata outlines $350M debt reduction and recasts Dynapower growth strategy amid margin expansion ([seekingalpha.com](https://seekingalpha.com/news/4509902-sensata-outlines-350m-debt-reduction-and-recasts-dynapower-growth-strategy-amid-margin?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

### Sales · FY2024–2025

sales -5.9%; source https://www.sec.gov/Archives/edgar/data/1477294/000147729426000007/st-20251231.htm; observed 2026-02-27.

- FY2016: $3.2B 

- FY2017: $3.3B 

- FY2018: $3.5B 

- FY2019: $3.4B 

- FY2020: $3.0B 

- FY2021: $3.8B 

- FY2022: $4.1B 

- FY2023: $4.1B 

- FY2024: $3.9B 

- FY2025: $3.7B 

### Gross margin · FY2025

gross margin 27.1%; source https://www.sec.gov/Archives/edgar/data/1477294/000147729426000007/st-20251231.htm; observed 2026-02-27.

- FY2016: 28.9% 

- FY2017: 30.8% 

- FY2018: 31.5% 

- FY2019: 29.7% 

- FY2020: 26.4% 

- FY2021: 29.2% 

- FY2022: 29.5% 

- FY2023: 31.1% 

- FY2024: 25.1% 

- FY2025: 27.1% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in scientific & technical instruments; annual sales are USD 3.7 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1477294/000147729426000007/st-20251231.htm (filed 2026-02-27); FY2025: revenue 3704500000; grossProfit 1004100000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); ST.US: Sensata Technologies Holding plc develops, manufactures, and sells sensors and sensor-rich solutions, electrical protection components and systems, and other products used in mission-critical systems and applications in the United States, Europe, Asia, and internationally. It operates through three segments: Automotive; Industrials; and Aerospace, Defense, and Commercial Equipment. The company offers sensors, contactors/fuses, switching and protection devices and solutions, distribution modules, bimetal electromechanical controls, circuit breakers, switches and relays, energy storage systems, rectifiers and frequency converters, power conversion systems, battery management system, charging inlet modules, and brushless DC motors. It offers its products for thermal management and air conditioning systems; powertrain; exhaust after-treatment; suspension, braking; tire management solutions; battery packs; electrical protection; electrical powertrain; battery packs; charging systems; motors, compressors, pumps; heating and cooling systems; home appliances; lighting; industrial; data and telecom equipment; medical equipment; motors, compressors, and pumps; hydraulic machinery; motion control systems; motor/platform controllers; grid harmonics and power delivery; commercial and military aircraft; and recreational vehicles. It serves automotive, on-road truck, and construction; and original equipment manufacturers in agriculture, control, appliance, medical, energy and charging infrastructure, data/telecom, and aerospace and defense industries, as well as systems integrators, aerospace, and motor and compressor distributors. Sensata Technologies Holding plc was founded in 1916 and is headquartered in Attleboro, Massachusetts.

### Why customers stay

Margins ranged from 25.1% to 31.1% during 2023–25; it earns 21.5% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2023: grossProfit / revenue = 31.1%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2024: grossProfit / revenue = 25.1%.

- Source: https://www.sec.gov/Archives/edgar/data/1477294/000147729426000007/st-20251231.htm (filed 2026-02-27); FY2025: grossProfit / revenue = 27.1%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); 10-year return on capital observations [[2016,0.2198093835344525],[2017,0.3156516139730863],[2018,0.31517718597253475],[2019,0.21044501286320477],[2020,0.20835901948959748],[2021,0.24877899119157834],[2022,0.22315655016888547],[2023,0.04950600644348535],[2024,0.1556168975226237],[2025,0.1690434034803723]]; median 0.21512719819882864. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Can it raise prices

Kept about a 30% gross margin through 2022 cost inflation.

- Source: https://www.sec.gov/Archives/edgar/data/1477294/000147729426000007/st-20251231.htm (filed 2026-02-27); Gross margin observations: [[2021,0.29204977010514166],[2022,0.29519892919668894],[2023,0.3111080853549372]]; range within 2 percentage points.

### Where the cash goes

Paid dividends in 7 of 10 years; bought back USD 126.1 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2016: growth capex 0; upkeep 130217000; cash acquisitions 4688000; owner earnings 440618000. Growth capex plus acquisitions / owner earnings = 0.010639601650409197.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2017: growth capex 0; upkeep 144584000; cash acquisitions 0; owner earnings 534144000. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2018: growth capex 0; upkeep 159787000; cash acquisitions 228307000; owner earnings 684548000. Growth capex plus acquisitions / owner earnings = 0.33351496169735356.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2019: growth capex 0; upkeep 161259000; cash acquisitions 32465000; owner earnings 380203000. Growth capex plus acquisitions / owner earnings = 0.0853885950400181.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2020: growth capex 0; upkeep 106719000; cash acquisitions 64432000; owner earnings 312796000. Growth capex plus acquisitions / owner earnings = 0.20598728884001075.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2021: growth capex 0; upkeep 144403000; cash acquisitions 736077000; owner earnings 478265000. Growth capex plus acquisitions / owner earnings = 1.5390567990549173.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2022: growth capex 0; upkeep 150064000; cash acquisitions 631516000; owner earnings 441592000. Growth capex plus acquisitions / owner earnings = 1.430089313212196.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2023: growth capex 0; upkeep 184609000; cash acquisitions 0; owner earnings 118447000. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); FY2024: growth capex 0; upkeep 158555000; cash acquisitions 0; owner earnings 282801000. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/1477294/000147729426000007/st-20251231.htm (filed 2026-02-27); FY2025: growth capex 0; upkeep 131199999; owner earnings 156500001. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); Dividend observations: [[2016,0],[2017,0],[2018,0],[2019,15150000],[2020,15457000],[2021,26290000],[2022,51072000],[2023,71543000],[2024,72210000],[2025,70400000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1477294/000147729426000007/st-20251231.htm (filed 2026-02-27); FY2025: cash repurchases 126100000 USD.

### Are managers owners

Insiders own 0.8% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); ST.US SharesStats.PercentInsiders = 0.8130000000000001 percentage points; cache date 2026-10-16.

### What the price says

The price assumes cash profits grow 7.4% yearly over ten years; actual decline was 8.7%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-27); Ten-year compound average after fade. Initial solved rate 0.09378687551354781. Price 41.31; FX 1; discount 0.1; same standard ten-year fade to terminal 0.03. FY2015 owner earnings/share 2.642266183904427 → FY2025 1.0639021142080218. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $35.73 per share

- 2016-11: $37.37 per share

- 2016-12: $38.95 per share

- 2017-01: $41.95 per share

- 2017-02: $41.05 per share

- 2017-03: $43.67 per share

- 2017-04: $41.18 per share

- 2017-05: $40.43 per share

- 2017-06: $42.72 per share

- 2017-07: $45.12 per share

- 2017-08: $44.66 per share

- 2017-09: $48.07 per share

- 2017-10: $48.91 per share

- 2017-11: $49.95 per share

- 2017-12: $51.11 per share

- 2018-01: $56.25 per share

- 2018-02: $52.86 per share

- 2018-03: $51.83 per share

- 2018-04: $50.72 per share

- 2018-05: $51.09 per share

- 2018-06: $47.58 per share

- 2018-07: $54.37 per share

- 2018-08: $52.95 per share

- 2018-09: $49.55 per share

- 2018-10: $46.90 per share

- 2018-11: $46.26 per share

- 2018-12: $44.84 per share

- 2019-01: $47.50 per share

- 2019-02: $50.73 per share

- 2019-03: $45.02 per share

- 2019-04: $49.94 per share

- 2019-05: $42.69 per share

- 2019-06: $49.00 per share

- 2019-07: $47.43 per share

- 2019-08: $45.58 per share

- 2019-09: $50.06 per share

- 2019-10: $51.19 per share

- 2019-11: $51.49 per share

- 2019-12: $53.87 per share

- 2020-01: $47.27 per share

- 2020-02: $40.80 per share

- 2020-03: $28.93 per share

- 2020-04: $36.38 per share

- 2020-05: $35.65 per share

- 2020-06: $37.23 per share

- 2020-07: $37.98 per share

- 2020-08: $41.64 per share

- 2020-09: $43.14 per share

- 2020-10: $43.71 per share

- 2020-11: $48.83 per share

- 2020-12: $52.74 per share

- 2021-01: $54.50 per share

- 2021-02: $57.29 per share

- 2021-03: $57.95 per share

- 2021-04: $57.74 per share

- 2021-05: $59.43 per share

- 2021-06: $57.97 per share

- 2021-07: $58.62 per share

- 2021-08: $59.18 per share

- 2021-09: $54.72 per share

- 2021-10: $55.10 per share

- 2021-11: $55.70 per share

- 2021-12: $61.69 per share

- 2022-01: $57.36 per share

- 2022-02: $57.91 per share

- 2022-03: $50.85 per share

- 2022-04: $45.41 per share

- 2022-05: $48.03 per share

- 2022-06: $41.31 per share

- 2022-07: $44.47 per share

- 2022-08: $40.28 per share

- 2022-09: $37.28 per share

- 2022-10: $40.21 per share

- 2022-11: $45.10 per share

- 2022-12: $40.38 per share

- 2023-01: $50.85 per share

- 2023-02: $50.58 per share

- 2023-03: $50.02 per share

- 2023-04: $43.45 per share

- 2023-05: $41.52 per share

- 2023-06: $44.99 per share

- 2023-07: $42.25 per share

- 2023-08: $37.62 per share

- 2023-09: $37.82 per share

- 2023-10: $31.88 per share

- 2023-11: $32.51 per share

- 2023-12: $37.57 per share

- 2024-01: $36.17 per share

- 2024-02: $34.42 per share

- 2024-03: $36.74 per share

- 2024-04: $38.31 per share

- 2024-05: $41.32 per share

- 2024-06: $37.39 per share

- 2024-07: $38.99 per share

- 2024-08: $38.55 per share

- 2024-09: $35.86 per share

- 2024-10: $34.34 per share

- 2024-11: $32.14 per share

- 2024-12: $27.40 per share

- 2025-01: $27.16 per share

- 2025-02: $28.85 per share

- 2025-03: $24.27 per share

- 2025-04: $21.40 per share

- 2025-05: $26.06 per share

- 2025-06: $30.11 per share

- 2025-07: $30.76 per share

- 2025-08: $32.54 per share

- 2025-09: $30.55 per share

- 2025-10: $31.83 per share

- 2025-11: $32.07 per share

- 2025-12: $33.29 per share

- 2026-01: $34.59 per share

- 2026-02: $37.34 per share

- 2026-03: $35.22 per share

- 2026-04: $41.64 per share

- 2026-05: $49.39 per share

- 2026-06: $47.74 per share

- 2026-07: $46.29 per share

- 2026-08: $41.03 per share

- 2026-09: $41.56 per share

- 2026-10: $41.31 per share

## Annual estimated value (USD per share)

- FY2016: low $31.43 per share, central $35.53 per share, high $40.99 per share

- FY2017: low $34.77 per share, central $39.01 per share, high $44.66 per share

- FY2018: low $39.53 per share, central $44.45 per share, high $50.99 per share

- FY2019: low $40.90 per share, central $45.94 per share, high $52.65 per share

- FY2020: low $40.41 per share, central $44.42 per share, high $49.74 per share

- FY2021: low $43.05 per share, central $47.57 per share, high $53.59 per share

- FY2022: low $39.06 per share, central $43.43 per share, high $49.25 per share

- FY2023: low $34.37 per share, central $38.73 per share, high $44.52 per share

- FY2024: low $32.83 per share, central $36.89 per share, high $42.29 per share

- FY2025: low $23.17 per share, central $25.90 per share, high $29.53 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1477294/000147729426000007/st-20251231.htm); period 2025-12-31, filed 2026-02-27.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.