Christopher Bayliss
Long/short equity, deep value, value, research analyst

Autoliv: Leader In Strong Industry With Deceivingly Attractive Metrics

Autoliv (NYSE:ALV) is a leading manufacturer of safety equipment for the automotive industry. The company has been an industry stalwart over the years: the company has grown revenue consistently at about 7% CAGR since 1997 while the broader market has only grown at 4%. Other historical achievements are its significant patent portfolio, its ability to reduce costs, the consistent decrease in capital employed, and the decrease in number of defects. The company is poised to continue strong performance due to the industry's barriers to entry, increased safety regulation and demand, the company's ability to generate free cash flow, the company's position as a low-cost producer, the stable demand for its traditional products and the takeoff of...

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