Leading market positions; Good product and end-market diversity; and High operating margins. High financial leverage; Participation in cyclical end markets; and Large amount of intangible assets relative to fixed assets. The ratings on Attleboro, Mass.-based Sensata Technologies B.V. (Sensata) primarily reflect the company's highly leveraged financial profile, which more than offsets the company's satisfactory business profile. Formerly a division of Texas Instruments Inc., Sensata is composed of two business units that manufacture highly engineered electronic sensors and controls products, generating over $1.0 billion per year in revenue. The company's products are sold into mature, cyclical end markets that grow primarily at GDP-like rates. However, exposure to cyclicality is somewhat mitigated by the company's strong market positions, being the sole or...
Companies mentioned in this report are:
- Sensata Technologies B.V.
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