PENSKE AUTOMOTIVE GROUP, INC. PAG
We are a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers. We operate dealerships in the United States, the United Kingdom, Canada, Germany, Italy, Japan, and Australia, and we are one of the largest retailers of commercial trucks in North America for Freightliner. We also distribute and retail commercial vehicles, diesel and gas engines, power systems, and related parts and services principally in Australia and New Zealand. We employ over 27,700 people worldwide. Additionally, we own 28.9% of Penske Transportation Solutions, a business that employs over 42,000 people worldwide, manages one of the largest, most comprehensive and modern trucking fleets in North America with over 396,600 trucks, tractors, and trailers under lease, rental, and/or maintenance contracts, and provides innovative transportation, supply chain, and technology solutions to its customers.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $31.81B | $31.86B | $30.92B | $27.81B | $25.55B | $20.44B | $23.18B | $22.79B | $21.39B | $20.12B |
| Cost of revenue | $26.59B | $26.65B | $25.77B | $22.98B | $21.11B | $17.26B | $19.72B | $19.37B | $18.16B | $17.15B |
| Gross profit | $5.22B | $5.22B | $5.15B | $4.84B | $4.44B | $3.18B | $3.46B | $3.41B | $3.22B | $2.97B |
| SG&A | $3.76B | $3.69B | $3.55B | $3.22B | $2.96B | $2.36B | $2.69B | $2.65B | $2.52B | $2.30B |
| Operating income | $1.28B | $1.37B | $1.41B | $1.49B | $1.36B | $704.5M | $652.7M | $664.9M | $611.4M | $574.9M |
| Pre-tax income | $1.26B | $1.29B | $1.48B | $1.86B | $1.61B | $707.6M | $591.5M | $604.1M | $548.2M | $508.1M |
| Income tax | $325.8M | $316.5M | $360.9M | $473.0M | $416.3M | $162.7M | $156.7M | $134.3M | $64.8M | $160.7M |
| Net income | $935.4M | $968.9M | $1.11B | $1.38B | $1.19B | $543.6M | $435.8M | $471.0M | $613.3M | $342.9M |
| EPS, basic | 14.13 | 14.49 | 16.31 | 18.55 | 14.89 | 6.74 | 5.28 | 5.53 | 7.14 | 3.99 |
| EPS, diluted | 14.13 | 14.49 | 16.31 | 18.55 | 14.89 | 6.74 | 5.28 | 5.53 | 7.14 | 3.99 |
| Shares, diluted (wtd. avg.) | $66.2M | $66.9M | $68.0M | $74.4M | $79.7M | $80.6M | $82.5M | $85.2M | $85.9M | $86.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $64.7M | $83.6M | $102.6M | $113.1M | $100.7M | $49.5M | $28.1M | $39.4M | $45.7M | $24.0M |
| Receivables | $1.07B | $1.04B | $1.11B | $906.7M | $734.0M | $806.9M | $960.3M | $929.1M | $954.9M | $879.0M |
| Inventory | $4.81B | $4.71B | $4.29B | $3.51B | $3.13B | $3.43B | $4.26B | $4.04B | $3.94B | $3.41B |
| Total current assets | $6.19B | $6.05B | $5.68B | $4.66B | $4.08B | $4.41B | $5.33B | $5.10B | $5.03B | $4.39B |
| Property, plant and equipment | $3.22B | $3.04B | $2.77B | $2.50B | $2.44B | $2.40B | $2.37B | $2.25B | $2.11B | $1.81B |
| Goodwill | $2.44B | $2.38B | $2.24B | $2.15B | $2.12B | $1.93B | $1.91B | $1.75B | $1.66B | $1.29B |
| Total assets | $17.60B | $17.12B | $15.67B | $14.11B | $13.46B | $13.25B | $13.94B | $10.90B | $10.54B | $8.83B |
| Accounts payable | $899.8M | $859.1M | $866.9M | $853.5M | $767.1M | $675.4M | $638.8M | $598.2M | $641.6M | $497.4M |
| Short-term debt | $355.0M | $721.2M | $209.7M | $75.2M | $82.0M | $87.5M | $103.3M | $92.0M | $72.8M | $48.3M |
| Total current liabilities | $6.28B | $6.58B | $5.66B | $4.71B | $4.27B | $4.67B | $5.45B | $5.05B | $5.00B | $4.23B |
| Long-term debt | $1.81B | $1.13B | $1.42B | $1.55B | $1.39B | $1.60B | $2.26B | $2.12B | $2.09B | $1.83B |
| Total liabilities | $12.02B | $11.70B | $10.92B | $9.94B | $9.37B | $9.92B | $11.13B | $8.27B | $8.11B | $7.05B |
| Retained earnings | $5.75B | $5.76B | $4.99B | $4.48B | $4.20B | $3.15B | $2.68B | $2.37B | $2.01B | $1.50B |
| Total equity | $5.56B | $5.40B | $4.93B | $4.35B | $4.09B | $3.33B | $2.81B | $2.63B | $2.43B | $1.78B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $975.1M | $1.23B | $1.15B | $1.46B | $1.29B | $1.20B | $518.3M | $614.2M | $623.0M | $371.3M |
| Depreciation and amortisation | $172.3M | $161.3M | $143.7M | $127.3M | $121.5M | $115.5M | $109.6M | $103.7M | $95.1M | $89.7M |
| Stock-based compensation | $30.2M | $29.4M | $28.1M | $26.7M | — | — | — | — | — | — |
| Capital expenditure | $324.6M | $377.8M | $386.0M | $282.5M | $248.9M | $185.9M | $245.3M | $305.6M | $247.0M | $203.1M |
| Investing cash flow | -$175.0M | -$1.05B | -$583.0M | -$641.7M | -$623.1M | -$136.5M | -$532.7M | -$525.2M | -$928.7M | -$836.7M |
| Financing cash flow | -$825.5M | -$201.6M | -$572.4M | -$798.0M | -$615.5M | -$1.05B | $2.6M | -$94.3M | $322.6M | $433.0M |
| Dividends paid | $343.8M | $274.4M | $189.1M | $154.1M | $142.5M | $68.1M | $130.8M | $121.2M | $108.4M | $95.1M |
| Buybacks | $159.1M | $58.7M | $358.7M | $869.3M | $280.6M | $29.4M | $169.2M | $68.9M | $18.5M | $173.6M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-012830.
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