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Lear vs Borgwarner: LEA and BWA compared
Lear is the larger company: $5.8B of revenue in its latest quarter (Q3 2026) against $3.5B for Borgwarner (Q3 2026). Lear is growing faster (+2% against -3% a year earlier). Borgwarner is more profitable, with an operating margin of 8.7% against 3.4%.
Where the money goes: LEA and BWA
Lear (LEA) · Q3 2026
Lear, Q3 2026: revenue $5.8B (+2% year over year), operating margin 3.4%, net earnings $137M, operating cash flow $329M. The chart follows the revenue to costs, profit and cash.
Borgwarner (BWA) · Q3 2026
Borgwarner, Q3 2026: revenue $3.5B (-3% year over year), operating margin 8.7%, net earnings $221M, operating cash flow $320M. The chart follows the revenue to costs, profit and cash.
| Lear (LEA) | Borgwarner (BWA) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $5.8B | $3.5B |
| Revenue growth, Y/Y | +2% | -3% |
| Gross margin | 6.6% | 19.0% |
| Operating margin | 3.4% | 8.7% |
| Net earnings | $137M | $221M |
| Net margin | 2.4% | 6.3% |
| Operating cash flow | $329M | $320M |
| Free cash flow | $158M | $195M |
| Market value | $5.7B | $9.7B |
| P/E | 10.0× | 20.0× |
| Analysts’ mean target | $145.93 | $77.93 |
Where the revenue comes from
Lear
- Seating: $4.3B (75%)
- E-Systems: $1.4B (25%)
Borgwarner
- Turbos & Thermal Technologies: $1.4B (39%)
- Drivetrain & Morse Systems: $1.3B (38%)
- PowerDrive Systems: $699M (20%)
- Battery Energy Systems: $78.0M (2%)
Questions
Which is bigger, Lear or Borgwarner?
Lear is the larger company: $5.8B of revenue in its latest quarter (Q3 2026) against $3.5B for Borgwarner (Q3 2026).
Is Lear or Borgwarner growing faster?
Lear is growing faster (+2% against -3% a year earlier).
Which is more profitable, Lear or Borgwarner?
Borgwarner is more profitable, with an operating margin of 8.7% against 3.4%.
More: Lear earnings · how Lear makes money · Borgwarner earnings · how Borgwarner makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 30, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.