Methode Electronics, Inc. is a leading global supplier of custom-engineered mechatronic solutions, serving markets such as automotive, industrial, and data communications.

# Company Summary: Methode Electronics, Inc.

## Overview
- **Type:** Leading global supplier of custom-engineered solutions
- **Headquarters:** Chicago, Illinois
- **Employees:** Approximately 6,500 worldwide
- **Main Locations:** North America, Europe, Middle East, Asia
- **Website:** [www.methode.com](http://www.methode.com)

## Core Business
- Designs, engineers, and manufactures **mechatronic products** for Original Equipment Manufacturers (OEMs)
- Technologies utilized:
  - User interface systems
  - LED lighting systems
  - Power distribution solutions
  - Sensor applications (including magneto-elastic sensing, current sensing)
- End markets served:
  - Transportation:
    - Automotive (cars, commercial vehicles, electric bikes, aerospace, buses, rail)
  - Cloud computing infrastructure
  - Construction equipment
  - Consumer appliances

## Business Segments
- **Automotive:** ~48.6% of sales (fiscal 2025)
  - Supplies electronic and electro-mechanical devices
  - Products include:
    - Overhead and center consoles
    - Switches (hidden, ergonomic)
    - Transmission lead-frames
    - Insert molded components
    - LED lighting and sensors
- **Industrial:** ~46.5% of sales (fiscal 2025)
  - Manufactures:
    - Exterior and interior lighting
    - Industrial safety radio remote controls
    - Braided flexible cables
    - Laminated busbars and power assemblies
    - High-current, high-voltage flexible power cabling
- **Interface:** ~4.9% of sales (fiscal 2025)
  - Provides high-speed digital communication over copper for data centers and broadband
  - Interface panel solutions, including copper transceivers and solid-state touch panels
- **Medical:** Discontinued in fiscal 2024
  - Previously included surface technology for pressure injury prevention

## Revenue & Customers
- **Fiscal 2025 Revenue:** Approximately **$1.048 billion**
- **Major Customers:** The top five customers account for about **36%** of net sales
  - No single customer accounts for more than **10%** of sales

## Employees
- **Total Employees:** ~6,500
- **Location:** ~95% outside the U.S.
- Workforce includes full-time employees and 800 contractors
- No U.S. employees are unionized

## Financial Highlights (Fiscal 2025)
- **Net Loss:** **$62.6 million** (compared to a net loss of $123.3 million in fiscal 2024)
- **Gross Profit:** **$163.4 million** (15.6% margin)
- **Sales Decline:** 6.0% from fiscal 2024
- Main impact factors include lower sales, higher inventory obsolescence, and operational costs
- Despite net loss, the company is focusing on growth, innovation, and restructuring efforts

## Strategic Focus
- Innovation in mechatronic, lighting, sensor, and communication technologies
- Manage and mitigate industry-specific risks, including cyclicality in automotive and industrial markets
- Expand global footprint and supply chain resiliency
- Focus on talent acquisition, diversity, and health & safety initiatives

## Other Notes
- Has a history of acquisitions and divestitures (notably exited medical segment in 2024)
- Engaged in ongoing efforts to optimize manufacturing and cost efficiencies
- Maintains a significant international presence, with key operations in Asia, Europe, and the Middle East

Methode Electronics, Inc. is a leading global supplier of custom engineered solutions, specializing in mechatronic products for various industries including automotive and medical.

# Methode Electronics, Inc. Overview

## Company Description
Methode Electronics, Inc. is a leading global supplier of custom engineered solutions, primarily focused on manufacturing mechatronic products for Original Equipment Manufacturers (OEMs) across various industries. The Company has a broad array of technologies used for user interface systems, LED lighting systems, power distribution, and sensor applications.

## Key Markets
Methode Electronics operates within various end markets, including:
- **Transportation**: Automotive, commercial vehicles, e-bikes, aerospace, buses, and rail
- **Cloud Computing Infrastructure**
- **Construction Equipment**
- **Consumer Appliances**

## Operating Segments
The Company is organized into four main segments:
1. **Automotive**: Supplies electronic and electro-mechanical devices to automobile OEMs.
2. **Industrial**: Manufactures lighting solutions and other industrial safety products.
3. **Interface**: Provides high-speed digital communication solutions for data centers and appliances.
4. **Medical**: Previously included medical devices, which have since been discontinued.

## Financial Performance
- **Fiscal Year Ended April 27, 2024**:
  - **Net Sales**: $1,114.5 million
  - **Cost of Products Sold**: $935.7 million
  - **Gross Profit**: $178.8 million 
  - **Net Loss**: $(123.3) million (which includes a goodwill impairment charge of $105.9 million in the Automotive segment)
  - **Total Assets**: $1,403.5 million

## Employees
The Company employs approximately **7,500 employees** worldwide, with around **95%** of these employees located outside the United States. 

## Customer Base
Methode Electronics serves a diverse set of customers, with **five major customers** accounting for approximately **40%** of its consolidated net sales. One of these customers in the automotive segment represented 14.6% of the consolidated net sales in fiscal 2024. 

## Acquisitions
- In **April 2023**, Methode acquired **92.2% of Nordic Lights Group Corporation** for €121.8 million ($134.2 million), and completed the acquisition of the remaining shares in **October 2023**. Nordic Lights is a provider of high-quality lighting solutions for heavy-duty equipment.

## Corporate Structure
- **Location**: Headquarters in Chicago, Illinois.
- **Stock Market**: Traded on the New York Stock Exchange under the symbol **MEI**. 

## Recent Developments
- Methode has undergone significant changes within its executive leadership and has initiated restructuring plans. Additional challenges, including market conditions and operational inefficiencies, have impacted its financials, notably in the Automotive segment which has seen program roll-offs and reduced sales volumes.

Methode Electronics continues to focus on strengthening its position in the markets it serves while managing operational risks and striving for profitability amidst ongoing challenges.

METHODE ELECTRONICS INC

10-K / July 9, 2025

10-K / July 11, 2024

10-K / July 9, 2025

Company Summary: Methode Electronics, Inc.

Overview

Core Business

Business Segments

Revenue & Customers

Employees

Financial Highlights (Fiscal 2025)

Strategic Focus

Other Notes