PENSKE AUTOMOTIVE GROUP, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data PENSKE AUTOMOTIVE GROUP, 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	20,119	21,387	22,785	23,179	20,444	25,555	27,815	30,917	31,865	31,809
Cost of revenue	17,152	18,164	19,370	19,724	17,259	21,114	22,976	25,769	26,648	26,592
Gross profit	2,967	3,223	3,415	3,456	3,185	4,441	4,839	5,147	5,217	5,217
Selling, general and administrative	2,302	2,516	2,646	2,693	2,365	2,963	3,224	3,554	3,686	3,764
Operating income	575	611	665	653	705	1,356	1,488	1,409	1,370	1,281
Pre-tax income	508	548	604	592	708	1,608	1,859	1,475	1,290	1,264
Income tax	161	-64.8	134	157	163	416	473	361	317	326
Income from continuing operations	344	614	471	436	543	1,187	1,380	1,053
Net income to minority interests	3.5	-0.5	-0.7	-0.7	1.7	4.9	6.2	5.4	4.5	2.5
Net income	343	613	471	436	544	1,188	1,380	1,109	969	935
EBITDA	665	707	769	762	820	1,478	1,615	1,553	1,531	1,453
EPS, basic	4.20	7.51	5.82	5.56	7.09	15.67	19.52	16.31	14.49	14.13
EPS, diluted	4.20	7.51	5.82	5.56	7.09	15.67	19.52	16.31	14.49	14.13
Shares, basic (weighted)	81.7	81.6	80.9	78.4	76.6	75.8	70.7	68	66.9	66.2
Shares, diluted (weighted)	81.7	81.6	80.9	78.4	76.6	75.8	70.7	68	66.9	66.2
Dividend per share	1.16	1.33	1.49	1.66	0.88	1.87	2.18	2.78	4.09	5.18

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	24	45.7	39.4	28.1	49.5	101	107	96.4	83.6	64.7
Receivables	879	955	929	960	807	734	907	1,115	1,037	1,070
Inventory	3,408	3,944	4,040	4,261	3,426	3,129	3,509	4,293	4,711	4,815
Other current assets	73.9	81.8	86.6	85	127	112	142	176	215	243
Total current assets	4,394	5,027	5,095	5,334	4,409	4,075	4,664	5,680	6,046	6,193
Property, plant and equipment	1,807	2,109	2,250	2,366	2,404	2,442	2,497	2,765	3,038	3,225
Lease right-of-use assets				2,361	2,417	2,451	2,416	2,406	2,583	2,544
Goodwill	1,291	1,661	1,752	1,911	1,928	2,124	2,155	2,240	2,376	2,436
Other non-current assets	28.3	14.4	15.9	19.5	25.4	41.9	55.3	63.1	110	113
Total assets	8,833	10,541	10,905	13,943	13,247	13,465	14,115	15,672	17,121	17,598
Accounts payable	497	642	598	639	675	767	854	867	859	900
Accrued liabilities	360	524	567	702	767	870	788	810	917	930
Deferred revenue		303	270	263	263	297	292	280	269	299
Short-term debt	48.3	72.8	92	103	87.5	82	75.2	210	721	355
Total current liabilities	4,230	5,000	5,048	5,451	4,675	4,275	4,713	5,658	6,581	6,279
Long-term debt	1,829	2,090	2,125	2,257	1,602	1,392	1,547	1,420	1,131	1,811
Lease liabilities				2,301	2,350	2,374	2,336	2,336	2,505	2,462
Other non-current liabilities	431	540	519	444	421	269	223	271	256	265
Total liabilities	7,054	8,113	8,270	11,131	9,921	9,370	9,940	10,916	11,702	12,017
Total debt	1,877	2,163	2,217	2,360	1,690	1,474	1,622	1,629	1,852	2,166
Paid-in capital	497	532	478	320	312	42.2	0	0	9.1	0
Retained earnings	1,505	2,009	2,366	2,676	3,151	4,197	4,483	4,990	5,756	5,750
Other comprehensive income	-251	-147	-235	-203	-161	-169	-335	-264	-365	-188
Shareholders' equity	1,751	2,395	2,609	2,793	3,303	4,070	4,148	4,726	5,401	5,562
Minority interests	28.6	32.8	25.6	18.2	23.6	25	26.8	29.4	17.5	18.5
Total equity	1,780	2,428	2,635	2,812	3,326	4,095	4,352	4,933	5,419	5,581
Total liabilities and equity	8,833	10,541	10,905	13,943	13,247	13,465	14,115	15,672	17,121	17,598
Shares outstanding	81	81.5	80.3	77.1	76.4	73.7	66.2	67.1	66.8	65.8

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	346	613	470	435	545	1,193	1,386	1,114	973	938
Depreciation and amortization	89.7	95.1	104	110	116	122	127	144	161	172
Stock-based compensation	14.8	16	16.8	17.8	20.4	23.1	26.7	28.1	29.4	30.2
Deferred income tax	162	-109	106	92	194	185	124	102	-13	66.2
Change in receivables	-92.5	-73.1	30.4	-30.9	153	75.6	-193	-202	128	1.6
Change in payables	-17.8	272	-17.1	71.4	125	139	81.7	-13.5	40.2	-53
Cash from operations	371	623	614	518	1,202	1,292	1,459	1,145	1,231	975
Capital expenditures	-203	-247	-306	-245	-186	-249	-283	-386	-378	-325
Acquisitions	-141	-450	-309	-327	0	-432	-393	-215	-786	-21.5
Cash from investing	-837	-929	-525	-533	-137	-623	-642	-583	-1,046	-175
Share buybacks	-174	-18.5	-68.9	-169	-29.4	-281	-869	-359	-58.7	-159
Dividends paid	-95.1	-108	-121	-131	-68.1	-143	-154	-189	-274	-344
Cash from financing	433	323	-94.3	2.6	-1,054	-616	-798	-572	-202	-826
Exchange rate effect	-9.1	2.1	-1.5	0.2	10	-3.5	-13.5	-0.3	-2.1	6.5
Net change in cash	-38.4	21.7	-6.3	-11.3	21.4	51.2	5.8	-10.5	-19	-18.9
Free cash flow	168	376	309	273	1,016	1,043	1,177	759	853	651
Interest paid	130	163	190	205	169	95.3	113	216	275	274
Income taxes paid	48.6	-29.7	39.6	92.4	17.9	160	343	288	317	272

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 $209.62 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	16.1%	Gross profit / revenue.
Operating margin	3.9%	Operating income / revenue.
EBITDA margin	4.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	3.9%	Pre-tax income / revenue.
Net margin	2.8%	Net income / revenue.
FCF margin	1.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	2.8%	Cash from operations / revenue.
Effective tax rate	26.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	15.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	4.9%	Net income / average total assets.
Return on invested capital (ROIC)	11.2%	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	12.1%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.0%	Capital expenditures / revenue.
D&A / revenue	0.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-0.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-0.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	2.5%	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	10.4%	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	-6.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-4.9%	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	12.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-5.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-3.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	12.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-3.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-12.2%	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	11.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-2.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-10.2%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	14.8%	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	-20.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-12.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-4.1%	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	-23.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-17.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-8.5%	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	26.7%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	33.5%	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	42.4%	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	3.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	10.3%	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	11.0%	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	2.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	7.6%	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	5.8%	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	-1.0%	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	-2.2%	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	-2.9%	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	0.98x	Current assets / current liabilities.
Quick ratio	0.17x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.01x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.43x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	13.5%	Total debt / total assets.
Liabilities / assets	68.4%	Total liabilities / total assets.
Net debt	$2.43B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.70x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	-$163.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	15.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$3.00B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.74x	Revenue / average total assets.
Fixed asset turnover	9.79x	Revenue / average property, plant and equipment.
Inventory turnover	5.40x	Cost of revenue / average inventory.
Days inventory	68 days	365 x average inventory / cost of revenue.
Receivables turnover	30.3x	Revenue / average receivables.
Days sales outstanding	12 days	365 x average receivables / revenue.
Days payables	12 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	67 days	Days inventory + days sales outstanding - days payables.
FCF conversion	64.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	34.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$13.76	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	$489.83	Revenue / diluted weighted shares.
FCF per share	$8.85	Free cash flow / diluted weighted shares.
Operating cash flow per share	$13.60	Cash from operations / diluted weighted shares.
Book value per share	$88.56	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$45.71	Tangible book value / shares outstanding.
Cash per share	$1.06	(Cash + short-term investments) / shares outstanding.
Payout ratio	40.3%	Dividends paid / net income, when net income is positive.
Dividends / FCF	62.7%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	12.8%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$13.76B	Share price x shares outstanding.
Enterprise value	$16.19B	Market cap + total debt - cash - short-term investments.
P/E	15.2x	Market cap / net income. Only when net income is positive.
P/S	0.43x	Market cap / revenue.
P/B	2.37x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.59x	Market cap / tangible book value, when positive.
P/FCF	23.7x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	15.4x	Market cap / cash from operations, when positive.
EV/Sales	0.50x	Enterprise value / revenue.
EV/EBIT	13.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	11.4x	Enterprise value / EBITDA, when both are positive.
EV/FCF	27.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.2%	Free cash flow / market cap.
Earnings yield	6.6%	Net income / market cap (the inverse of P/E).
Dividend yield	2.6%	Dividends paid over the period / market cap.
Shareholder yield	3.2%	(Dividends paid + share buybacks) / market cap.

What was PENSKE AUTOMOTIVE GROUP, INC.'s revenue in fiscal 2025?

PENSKE AUTOMOTIVE GROUP, INC. reported revenue of $31.81B for fiscal 2025, 0.2% lower than the year before.

Was PENSKE AUTOMOTIVE GROUP, INC. profitable in fiscal 2025?

Yes. Net income was $935.4M, a net margin of 2.9%.

How much free cash flow did PENSKE AUTOMOTIVE GROUP, INC. generate in fiscal 2025?

Cash from operations of $975.1M minus capital expenditures of $324.6M left free cash flow of $650.5M.

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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