CPS · CIK 0001320461
What Cooper-Standard Holdings Inc. told the SEC could break it.
Cooper-Standard's disclosures show a Tier-1 auto-parts supplier squeezed between concentrated customers and volatile input costs. Its sales are heavily dependent on a few automakers — Ford was 27% and General Motors 19% of 2025 net sales, with about 86% going to OEMs — so a major customer's volume loss or production cut would hit hard. On the cost side, raw materials like rubber, carbon black, resins, steel and aluminum made up roughly 52% of cost of products sold, and their prices have been volatile and worsened by tariffs. Compounding both is a supply chain with sole-source, customer-directed and unique-capability suppliers that are hard to replace, and exposure to new U.S. auto tariffs across a footprint where about 78% of sales are made outside the United States.
4 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Commodity & input dependence
- raw materials (rubber, carbon black, resins, steel, aluminum) = ~52% of COGShigh
Material costs were ~52% of Cooper-Standard's 2025 cost of products sold; its key inputs (rubber, carbon black, process oils, plastic resins, and plastic/carbon-steel/aluminum/stainless components) have been volatile and exacerbated by tariffs, directly pressuring margins.
“The principal raw materials to produce our products include rubber, carbon black, process oils, and plastic resins. Principal procured components are primarily made from plastic, carbon steel, aluminum and stainless steel. Material costs represented approximately 52% of our total cost of products sold in 2025.”
SEC filing →As of 2026
Customer concentration
- Ford (27%) and GM (19%) = ~46% of sales; ~86% to OEMshigh
Cooper-Standard's sales are concentrated among a few automakers — Ford was 27% and General Motors 19% of 2025 net sales (with Stellantis, VW, Mercedes-Benz and Renault-Nissan also among top customers) and ~86% of sales went to OEMs — so a major OEM's volume loss or production cut would materially hurt results.
“Customer: Ford 27 % 27 % 25 % General Motors 19”
SEC filing →As of 2026
Sole-source dependency
- sole-source, customer-directed and unique-capability suppliers in the supply chainmedium
Cooper-Standard sources components worldwide from suppliers that may be sole sources, that its customers direct it to use, or that have unique capabilities making re-sourcing difficult and expensive; disruptions in the automotive supply base could halt production.
“We are responsible for managing our supply chain, including suppliers that may be the sole sources of products that we require, that our customers direct us to use or that have unique capabilities that would make it difficult and/or expensive to re-source.”
SEC filing →As of 2026
Regulatory & policy
- new U.S. auto tariffs and trade-policy shifts; 78% of sales made outside U.S.low
Significant new U.S. tariffs on imported goods (autos included) and broader trade-policy shifts raise costs and demand uncertainty for Cooper-Standard, which manufactured ~78% of its 2025 sales outside the United States across 20 countries.
“shifts in U.S. trade policy, including the implementation of significant new tariffs on many imported goods, autos among them.”
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
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