LITHIA MOTORS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data LITHIA MOTORS INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	8,678	10,087	11,821	12,673	13,127	22,832	28,188	31,042	36,188	37,635
Cost of revenue	7,377	8,570	10,044	10,719	10,902	18,573	23,035	25,813	30,627	31,902
Gross profit	1,301	1,516	1,777	1,954	2,224	4,259	5,152	5,229	5,561	5,733
Selling, general and administrative	900	1,049	1,253	1,374	1,438	2,481	3,044	3,295	3,755	3,945
Selling and marketing	81.4	93.3	109
Operating income	338	409	447	495	693	1,663	1,941	1,692	1,569	1,595
Interest expense	23.2	34.8	56	60.6	71.6	103	129	201	258	276
Other non-operating income	-6.1	12.2	8.8	13.8	61.8	-52	-43.2	22	39.3	17.4
Pre-tax income	284	347	338	375	649	1,485	1,730	1,362	1,071	1,108
Income tax	86.4	102	71.8	104	178	422	468	351	255	283
Income from continuing operations	197
Net income	197	245	266	272	470	1,060	1,251	1,001	797	820
EBITDA	388	467	522	577	785	1,790	2,114	1,897	1,864	1,918
EPS, basic	7.76	9.78	10.91	11.70	19.74	36.81	44.38	36.36	29.51	32.38
EPS, diluted	7.72	9.75	10.86	11.60	19.53	36.54	44.17	36.29	29.45	32.32
Shares, basic (weighted)	25.4	25.1	24.4	23.2	23.8	28.8	28.2	27.5	27	25.3
Shares, diluted (weighted)	25.5	25.1	24.5	23.4	24.1	29	28.3	27.6	27.1	25.4
Dividend per share	0.95	1.06	1.14	1.19	1.22	1.36	1.61	1.92	2.09	2.18

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	50.3	57.3	31.6	84	160	153	272	972	446	391
Receivables	418	522	529	505	614	686	813	1,106	1,237	1,134
Inventory	1,773	2,133	2,365	2,434	2,493	2,386	3,409	4,754	5,912	6,120
Other current assets	46.6	70.9	65.1	47.8	70.5	63.9	162	137	223	263
Total current assets	2,287	2,783	2,991	3,071	3,340	3,310	4,631	6,938	7,774	7,858
Property, plant and equipment	1,006	1,185	1,448	1,612	2,198	3,053	3,575	3,981	4,630	4,936
Lease right-of-use assets			0	252	264	396	382	479	659	717
Goodwill	259	256	435	455	593	977	1,461	1,931	2,116	2,477
Other non-current assets	107	272	221	389	1,158	1,809	915	642	1,526	1,587
Total assets	3,844	4,683	5,384	6,084	7,902	11,147	15,007	19,633	23,123	25,107
Accounts payable	88.4	111	126	125	158	235	258	288	334	340
Accrued liabilities	211	252	284	337	458	754	783	899	1,122	1,214
Short-term debt	21	18.9	25.9	39.3	66	224	20.5	110	192	134
Total current liabilities	1,922	2,301	2,494	2,569	2,480	2,403	3,178	4,932	6,551	6,697
Long-term debt	485	1,029	1,358	1,431	2,065	3,186	5,511	7,155	8,171	9,679
Lease liabilities			0	239	247	362	347	428	597	662
Other non-current liabilities	100	111	122	109	148	151	207	221	319	472
Total liabilities	2,933	3,600	4,187	4,616	5,241	6,484	9,756	13,350	16,449	18,479
Total debt	440	782	927	1,331	2,110	2,398	5,531	7,265	8,363	9,813
Paid-in capital	41.2	11.3	35	46	41.4	58.3	76.8	79.9	107	18.1
Retained earnings	704	923	1,162	1,402	1,838	2,860	4,065	5,013	5,754	6,518
Other comprehensive income			0	-0.7	-6.3	-3	-18	20.1	-3.6	67.3
Shareholders' equity	911	1,083	1,197	1,468	2,662	4,626	5,206	6,214	6,650	6,603
Minority interests					0	2.8	4.2	25	23.9	25.2
Total equity	911	1,083	1,197	1,468	2,662	4,629	5,210	6,239	6,674	6,628
Total liabilities and equity	3,844	4,683	5,384	6,084	7,902	11,147	15,007	19,633	23,123	25,107
Shares outstanding					26.3	29.5	27.3	27.4	26.4	23.5

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	197	245	266	272	470	1,063	1,262	1,012	816	826
Depreciation and amortization	49.3	57.7	75.4	82.4	92.4	127	173	204	295	324
Stock-based compensation	11	11.3	13.3	16.2	23.2	34.7	41.1	40.8	58.4	60.3
Deferred income tax	4.5	-10.1	30	39.9	19	43.1	94.6	64	40.3	93.9
Change in inventory	-169	-193	-109	-19.7	229	675	-923	-864	-261	33.3
Change in payables	16.4	20	15.1	-1.8	28.2	78.4	25.3	-19.9	9	-7.5
Cash from operations	90.9	149	520	525	545	1,797	-610	-472	425	357
Capital expenditures	-101	-105	-158	-125	-168	-260	-303	-230	-351	-351
Acquisitions	-235	-460	-374	-367	-1,503	-2,699	-1,244	-1,185	-1,249	-886
Sales and maturities of investments									0	9.2
Cash from investing	-352	-538	-557	-463	-1,606	-2,890	-1,330	-1,270	-1,854	-1,028
Debt issued	66.5	396	62.1	420	607	817	113	79.8	408	787
Stock issued	6.9	7.5	10.1	11	790	1,136	36.1	29.7	27.3	27.5
Share buybacks	-113	-33.8	-149	-3.2	-50.6	-231	-688	-48.9	-366	-961
Dividends paid	-24.1	-26.5	-27.7	-27.6	-29.1	-38.8	-45.2	-52.8	-56.5	-55.3
Cash from financing	266	396	11.7	-9.1	1,140	1,107	2,036	2,410	908	612
Exchange rate effect				0	0	2.5	-3	33.4	-4.5	4.6
Net change in cash	5.27	7	-25.7	52.4	78.6	16	93	701	-526	-54.5
Free cash flow	-9.9	43.5	362	400	377	1,537	-913	-703	73.7	5.8
Interest paid	49.7	68.9	117	136	108	130	210	514	740	709
Income taxes paid	57.2	127	32.9	38.4	135	369	449	222	243	202

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $316.42 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	15.2%	Gross profit / revenue.
Operating margin	4.1%	Operating income / revenue.
EBITDA margin	4.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	2.5%	Pre-tax income / revenue.
Net margin	1.9%	Net income / revenue.
FCF margin	-1.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-0.4%	Cash from operations / revenue.
Effective tax rate	25.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	11.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.7%	Net income / average total assets.
Return on invested capital (ROIC)	18.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	10.6%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.9%	Capital expenditures / revenue.
D&A / revenue	0.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	4.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	10.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	23.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	3.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	20.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	1.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-6.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	18.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	2.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-3.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	19.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	2.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-13.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	11.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	9.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-9.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	10.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-16.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	-8.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-92.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-56.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	4.3%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	10.6%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	12.3%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-0.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	19.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	8.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	18.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	26.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-6.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-3.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.00x	Current assets / current liabilities.
Quick ratio	0.15x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.01x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	75.5%	Total liabilities / total assets.
Interest coverage	5.60x	Operating income / interest expense.
Working capital	$24.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	9.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$3.86B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.45x	Revenue / average total assets.
Fixed asset turnover	7.54x	Revenue / average property, plant and equipment.
Inventory turnover	4.94x	Cost of revenue / average inventory.
Days inventory	74 days	365 x average inventory / cost of revenue.
Receivables turnover	33.7x	Revenue / average receivables.
Days sales outstanding	11 days	365 x average receivables / revenue.
Days payables	6 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	79 days	Days inventory + days sales outstanding - days payables.
FCF conversion	-70.6%	Free cash flow / net income, when net income is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$31.75	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$1,686.00	Revenue / diluted weighted shares.
FCF per share	-$22.41	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$6.61	Cash from operations / diluted weighted shares.
Book value per share	$291.01	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$175.61	Tangible book value / shares outstanding.
Cash per share	$5.01	(Cash + short-term investments) / shares outstanding.
Payout ratio	7.4%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$6.96B	Share price x shares outstanding.
Enterprise value	$6.85B	Market cap + total debt - cash - short-term investments.
P/E	9.74x	Market cap / net income. Only when net income is positive.
P/S	0.18x	Market cap / revenue.
P/B	1.09x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.80x	Market cap / tangible book value, when positive.
EV/Sales	0.18x	Enterprise value / revenue.
EV/EBIT	4.42x	Enterprise value / operating income, when both are positive.
EV/EBITDA	3.69x	Enterprise value / EBITDA, when both are positive.
FCF yield	-7.2%	Free cash flow / market cap.
Earnings yield	10.3%	Net income / market cap (the inverse of P/E).
Dividend yield	0.8%	Dividends paid over the period / market cap.
Shareholder yield	18.5%	(Dividends paid + share buybacks) / market cap.

What was LITHIA MOTORS INC's revenue in fiscal 2025?

LITHIA MOTORS INC reported revenue of $37.63B for fiscal 2025, 4% higher than the year before.

Was LITHIA MOTORS INC profitable in fiscal 2025?

Yes. Net income was $819.6M, a net margin of 2.2%.

How much free cash flow did LITHIA MOTORS INC generate in fiscal 2025?

Cash from operations of $356.7M minus capital expenditures of $350.9M left free cash flow of $5.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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