SONIC AUTOMOTIVE INC SAH
Sonic Automotive, Inc. was incorporated in Delaware in 1997. References to "Sonic," the "Company," "we," "us" or "our" used throughout this Annual Report on Form 10-K refer to Sonic Automotive, Inc. and its subsidiaries. We are one of the largest automotive retailers in the United States (the "U.S.") (as measured by reported total revenue). As a result of the way we manage our business, we had three reportable segments as of December 31, 2025: (1) the Franchised Dealerships Segment; (2) the EchoPark Segment; and (3) the Powersports Segment. For management and operational reporting purposes, we group certain businesses together that share management and inventory (principally used vehicles) into "stores." As of December 31, 2025, we operated 111 stores in the Franchised Dealerships Segment, 18 stores in the EchoPark Segment, and 14 stores in the Powersports Segment. The Franchised Dealerships Segment consists of 134 new vehicle franchises (representing 24 different brands of cars and light trucks) and 16 collision repair centers in 18 states. The EchoPark Segment consists of 18 stores and operates in 10 states. The Powersports Segment consists of 41 franchises at 14 locations (11 full-service dealerships and three authorized retail outlets) in three states.
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 | $15.15B | $14.22B | $14.37B | $14.00B | $12.40B | $9.77B | $10.45B | $9.95B | $9.87B | $9.73B |
| Cost of revenue | $12.77B | $12.03B | $12.13B | $11.68B | $10.48B | $8.34B | $8.93B | $8.51B | $8.41B | $8.30B |
| Gross profit | $2.38B | $2.19B | $2.25B | $2.32B | $1.91B | $1.42B | $1.52B | $1.45B | $1.46B | $1.43B |
| SG&A | $1.68B | $1.58B | $1.60B | $1.56B | $1.27B | $1.03B | $1.10B | $1.15B | $1.15B | $1.11B |
| Operating income | $367.5M | $461.5M | $423.6M | $314.0M | $538.4M | $33.9M | $307.7M | $177.7M | $211.6M | $232.9M |
| Interest expense | — | — | — | — | — | — | — | $500.0K | $600.0K | $1.0M |
| Pre-tax income | $172.8M | $256.1M | $241.9M | $190.0M | $458.2M | -$34.8M | $199.6M | $75.3M | $108.1M | $155.2M |
| Income tax | $54.1M | $40.1M | $63.7M | $101.5M | $109.3M | $15.9M | $55.1M | $22.9M | $14.0M | $60.7M |
| Net income | $118.7M | $216.0M | $178.2M | $88.5M | $348.9M | -$51.4M | $144.1M | $51.6M | $118.7M | $93.2M |
| EPS, basic | 3.49 | 6.34 | 5.09 | 2.29 | 8.43 | -1.21 | 3.35 | 1.21 | 2.11 | 2.04 |
| EPS, diluted | 3.42 | 6.18 | 4.97 | 2.23 | 8.06 | -1.21 | 3.30 | 1.20 | 2.09 | 2.03 |
| Shares, diluted (wtd. avg.) | $34.7M | $35.0M | $35.9M | $39.7M | $43.3M | $42.5M | $43.7M | $43.0M | $44.4M | $45.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $6.3M | $44.0M | $28.9M | $229.2M | $299.4M | $170.3M | $29.1M | $5.9M | $6.4M | $3.1M |
| Receivables | $469.0M | $495.9M | $528.1M | $462.4M | $401.1M | $371.7M | $432.7M | $438.2M | $486.7M | $430.2M |
| Inventory | $2.01B | $1.96B | $1.58B | $1.22B | $1.26B | $1.25B | $1.52B | $1.53B | $1.51B | $1.57B |
| Total current assets | $2.83B | $2.89B | $2.52B | $2.21B | $2.08B | $1.88B | $2.02B | $1.99B | $2.02B | $2.03B |
| Property, plant and equipment | $1.56B | $1.61B | $1.60B | $1.56B | $1.46B | $1.12B | $1.10B | $1.18B | $1.15B | $1.01B |
| Goodwill | $421.8M | $358.5M | $253.8M | $231.0M | $416.4M | $214.0M | $475.8M | $509.6M | $525.8M | $472.4M |
| Other intangibles | $454.1M | $430.3M | $417.4M | $396.7M | $480.2M | $64.3M | $64.3M | $69.7M | $74.6M | $80.2M |
| Total assets | $5.97B | $5.90B | $5.36B | $4.98B | $4.98B | $3.75B | $4.07B | $3.80B | $3.82B | $3.64B |
| Accounts payable | $151.0M | $172.0M | $149.8M | $138.4M | $133.3M | $105.1M | $135.2M | $114.3M | $129.9M | $117.7M |
| Short-term debt | $52.4M | $76.1M | $60.1M | $79.5M | $50.6M | $68.2M | $69.9M | $26.3M | $61.3M | $43.0M |
| Total current liabilities | $2.60B | $2.64B | $2.29B | $1.85B | $1.89B | $1.83B | $2.07B | $1.95B | $1.95B | $1.94B |
| Long-term debt | $1.56B | $1.51B | $1.62B | $1.67B | $1.51B | $651.8M | $637.0M | $918.8M | $963.4M | $839.7M |
| Retained earnings | $1.48B | $1.41B | $1.24B | $1.10B | $1.05B | $721.8M | $790.2M | $670.7M | $629.3M | $541.1M |
| Total equity | $1.07B | $1.06B | $891.9M | $895.2M | $1.08B | $814.8M | $944.8M | $823.1M | $786.8M | $725.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $567.4M | $109.2M | -$15.7M | $406.1M | $306.3M | $281.1M | $170.8M | $143.7M | $162.9M | $216.4M |
| Stock-based compensation | $23.1M | $23.5M | $23.3M | $20.5M | $15.0M | $11.7M | $10.8M | $11.9M | $11.1M | $11.2M |
| Capital expenditure | $149.9M | $187.3M | $203.6M | $227.1M | $298.2M | $127.2M | $125.6M | $163.6M | $234.2M | $206.2M |
| Investing cash flow | -$499.0M | -$178.3M | -$218.7M | -$299.7M | -$1.30B | -$100.2M | $136.8M | -$15.3M | -$272.1M | -$220.8M |
| Financing cash flow | -$106.1M | $84.3M | $34.1M | -$176.6M | $1.12B | -$39.7M | -$284.4M | -$128.8M | $112.5M | $3.9M |
| Dividends paid | $48.8M | $40.8M | $40.0M | $34.5M | $18.3M | $17.1M | $15.5M | $9.8M | $8.9M | $8.7M |
| Buybacks | $82.4M | $34.4M | $177.6M | $261.9M | $93.3M | $71.7M | $2.4M | $24.1M | $37.3M | $100.0M |
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 0001628280-26-010570.
Others in SIC 5500
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| CVNA | CARVANA CO. | $53.53B | 8.8x | 48.6% |
| CPRT | COPART INC | $31.22B | 21.2x | 9.7% |
| CASY | CASEYS GENERAL STORES INC | $27.98B | 39.5x | 10.2% |
| PAG | PENSKE AUTOMOTIVE GROUP, INC. | $14.43B | 15.6x | -0.2% |
| MUSA | Murphy USA Inc. | $9.40B | 21.2x | -4.2% |
| KMX | CARMAX INC | $8.98B | 37.7x | -1.8% |
| LAD | LITHIA MOTORS INC | $8.50B | 12.0x | 4.0% |
| AN | AUTONATION, INC. | $7.02B | 12.5x | 3.2% |