← PENSKE AUTOMOTIVE GROUP, INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income From Continuing Operations | — | — | — | — | — | — | $1.4b | $1.1b | $973.4m | $937.9m | $908.1m | |
| Net Income (Loss) Attributable to Parent | $342.9m |
$613.3m
+78.86%
|
$471.0m
-23.20%
|
$435.8m
-7.47%
|
$543.6m
+24.74%
|
$1.2b
+118.51%
|
$1.4b
+16.18%
|
$1.1b
-23.68%
|
$918.9m
-12.75%
|
$935.4m
+1.80%
|
— | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $3.5m | ($500k) | ($700k) | ($700k) | $1.7m | $4.9m | $6.2m | $5.4m | $4.5m | $2.5m | — | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $346.4m | $612.8m | $470.3m | $435.1m | $545.3m | $1.2b | $1.4b | $1.1b | $923.4m | $937.9m | — | |
| Depreciation | $89.7m | $95.1m | $103.7m | $109.6m | $115.5m | $121.5m | $127.3m | $141.0m | $158.0m | $172.3m | $178.8m | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $127.3m | $143.7m | $161.3m | $172.3m | $178.8m | |
| Deferred Income Tax | $162.2m | $108.7m | $105.9m | $92.0m | $194.3m | $184.8m | $124.2m | $101.8m | ($13.0m) | $66.2m | $117.6m | |
| Deferred Tax | — | — | — | — | — | — | $124.2m | $101.8m | ($13.0m) | $66.2m | $117.6m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | — | — | — | — | $23.5m | $18.8m | $22.9m | — | |
| Payments of tax withholding for stock-based compensation | — | — | — | — | — | ($12.9m) | ($17.2m) | ($23.5m) | ($18.8m) | ($22.9m) | — | |
| Share-based Payment Arrangement, Expense | $14.8m | $16.0m | $16.8m | $17.8m | $20.4m | $23.1m | $25.5m | $27.9m | $29.1m | $30.6m | $29.1m | |
| Share-based Payment Arrangement, Noncash Expense | — | — | — | — | — | — | — | — | $29.4m | $30.2m | $29.1m | |
| Stock-based compensation | — | — | — | — | — | — | $26.7m | $28.1m | $29.4m | $30.2m | $29.1m | |
| Asset Impairment Charge | — | — | — | — | — | — | $0 | $40.7m | $0 | $0 | $0 | |
| Goodwill impairment charges | — | — | — | — | — | $0 | $0 | $40.7m | $0 | $0 | — | |
| Goodwill, Impairment Loss | — | — | — | — | — | $0 | — | $40.7m | $0 | $0 | $0 | |
| Impairment of Intangible Assets (Excluding Goodwill) | $0 | $0 | — | — | — | — | — | — | — | — | — | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | — | — | $5.8m | $1.9m | $1.2m | $0 | $0 | $0 | $1.8m | $3.4m | — | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | — | ($183.3m) | ($174.6m) | ($127.9m) | ($120.2m) | ($127.6m) | |
| Earnings of equity method investments, net of distributions | ($50.0m) | ($68.9m) | ($89.0m) | ($94.6m) | ($115.0m) | ($234.9m) | ($183.3m) | ($174.6m) | ($127.9m) | ($120.2m) | — | |
| Income (Loss) from Equity Method Investments | $69.5m | $107.6m | $134.8m | $147.5m | $169.0m | $374.5m | $494.2m | $293.7m | $200.7m | $192.9m | — | |
| Proceeds from sale of equity method investment | — | — | — | — | — | — | $0 | $0 | $20.7m | $16.0m | — | |
| Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | $50.0m | $68.9m | $89.0m | $94.6m | $115.0m | $234.9m | $183.3m | $174.6m | $127.9m | $120.2m | — | |
| Change In Working Capital | — | — | — | — | — | — | ($22.1m) | ($108.7m) | $207.4m | ($59.0m) | ($121.1m) | |
| Accounts receivable | ($92.5m) | ($73.1m) | $30.4m | ($30.9m) | $152.7m | $75.6m | ($192.9m) | ($194.7m) | $125.4m | $1.6m | $19.5m | |
| Change In Receivables | — | — | — | — | — | — | ($192.9m) | ($201.6m) | $128.1m | $1.6m | $19.5m | |
| Changes In Account Receivables | — | — | — | — | — | — | ($192.9m) | ($201.6m) | $128.1m | $1.6m | $19.5m | |
| Change In Inventory | — | — | — | — | — | — | ($444.4m) | ($725.9m) | ($157.2m) | $52.1m | ($266.0m) | |
| Inventories | $130.4m | ($419.9m) | ($12.6m) | ($117.8m) | $805.4m | $402.6m | ($444.4m) | ($666.2m) | ($196.7m) | $52.1m | ($266.0m) | |
| Accounts payable and accrued expenses | ($17.8m) | $272.0m | ($17.1m) | $71.4m | $125.0m | $139.0m | $81.7m | ($13.0m) | $42.9m | ($53.0m) | $500k | |
| Change In Other Current Assets | — | — | — | — | — | — | ($36.2m) | ($34.5m) | ($43.5m) | ($14.8m) | ($27.1m) | |
| Other | ($9.7m) | ($5.8m) | ($5.8m) | ($4.9m) | ($5.1m) | ($12.8m) | ($17.3m) | $100k | ($11.7m) | $0 | — | |
| Other current assets | — | — | — | — | — | — | ($36.2m) | ($29.5m) | ($43.8m) | ($14.8m) | ($27.1m) | |
| Net Cash Provided by (Used in) Operating Activities | $1.6m |
$500k
-68.75%
|
$500k
0.00%
|
$300k
-40.00%
|
$300k
0.00%
|
$1.3m
+333.33%
|
$1.5b
+112130.77%
|
$1.1b
-25.04%
|
$1.2b
+7.88%
|
$975.1m
-17.35%
|
$894.0m
-8.32%
|
|
| Cash flows from investing activities: | ||||||||||||
| Capital Expenditure | — | — | — | — | — | — | ($282.5m) | ($386.0m) | ($377.8m) | ($324.6m) | ($301.9m) | |
| Proceeds from sale of property and equipment | — | — | — | — | $19.8m | $54.9m | $32.3m | $30.7m | $26.2m | $27.5m | — | |
| Purchases of property, equipment, and improvements | ($203.1m) | ($247.0m) | ($305.6m) | ($245.3m) | ($185.9m) | ($248.9m) | ($282.5m) | ($375.3m) | ($368.7m) | ($324.6m) | — | |
| Gain (Loss) on Investments | — | — | — | — | — | ($11.4m) | $0 | $0 | — | — | — | |
| Acquisitions net, including repayment of sellers' floor plan notes payable of $0.0, $212.5, and $24.3, respectively | ($140.8m) | ($449.7m) | ($309.1m) | ($326.9m) | $0 | ($431.8m) | ($393.4m) | ($214.9m) | ($786.2m) | ($21.5m) | — | |
| Payments to Acquire Businesses, Net of Cash Acquired | $140.8m | $449.7m | $309.1m | $326.9m | — | $431.8m | $393.4m | $214.9m | $786.2m | $21.5m | ($691.2m) | |
| Net Other Investing Changes | — | — | — | — | — | — | ($11.2m) | ($12.8m) | ($10.9m) | $7.7m | $9.5m | |
| Payments for (Proceeds from) Other Investing Activities | ($5.7m) | $15.1m | $5.7m | $2.2m | $11.0m | $1.6m | $11.2m | $12.8m | $11.1m | ($7.7m) | — | |
| Net Cash Provided by (Used in) Investing Activities | — | — | — | ($532.7m) | ($136.5m) | ($623.1m) | ($641.7m) | ($572.3m) | ($1.0b) | ($175.0m) | ($761.0m) | |
| Cash flows from financing activities: | ||||||||||||
| Gain (Loss) on Extinguishment of Debt | — | — | — | — | — | — | $0 | $0 | — | — | — | |
| Issuance Of Debt | — | — | — | — | — | — | $2.3b | $3.2b | $4.4b | $5.8b | $6.1b | |
| Long Term Debt Issuance | — | — | — | — | — | — | $2.3b | $3.2b | $4.4b | $5.8b | $6.1b | |
| Long Term Debt Payments | — | — | — | — | — | — | ($2.1b) | ($3.2b) | ($4.2b) | ($5.7b) | ($5.6b) | |
| Net (repayments) borrowings of floor plan notes payable — non-trade | $101.0m | $185.3m | $10.0m | $177.5m | ($230.2m) | $38.9m | $82.9m | $46.5m | ($15.4m) | ($4.7m) | — | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $243.0m | $55.6m | $216.3m | $116.9m | $632.0m | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | $160.1m | ($4.3m) | $232.0m | $121.6m | $566.2m | |
| Net Short Term Debt Issuance | — | — | — | — | — | — | $82.9m | $59.9m | ($15.7m) | ($4.7m) | $65.8m | |
| Net cash borrowings of other debt | $42.9m | $42.0m | $235.5m | $115.4m | ($144.4m) | ($104.2m) | $160.1m | $73.2m | $113.3m | $59.7m | — | |
| Payment of debt issuance costs | ($6.7m) | ($4.0m) | ($1.9m) | ($400k) | ($8.1m) | ($6.3m) | ($300k) | ($2.1m) | ($1.0m) | ($500k) | — | |
| Proceeds from borrowings under revolving U.S. credit agreement and mortgage facilities | $1.5b | $2.0b | $1.6b | $1.8b | $1.8b | $1.9b | $2.1b | $3.2b | $4.3b | $5.8b | — | |
| Repayment Of Debt | — | — | — | — | — | — | ($2.1b) | ($3.2b) | ($4.2b) | ($5.7b) | ($5.6b) | |
| Short Term Debt Issuance | — | — | — | — | — | $38.9m | $82.9m | $46.5m | — | — | $177.5m | |
| Short Term Debt Payments | — | — | — | — | — | ($2.0b) | ($2.1b) | ($3.2b) | — | — | ($3.1b) | |
| Common Stock Payments | — | — | — | — | — | — | ($869.3m) | ($358.7m) | ($58.7m) | ($159.1m) | ($74.2m) | |
| Net Common Stock Issuance | — | — | — | — | — | — | ($869.3m) | ($358.7m) | ($58.7m) | ($159.1m) | ($74.2m) | |
| Payments for Repurchase of Common Stock | $173.6m | $18.5m | $68.9m | $169.2m | $29.4m | $280.6m | $869.3m | $358.7m | $58.7m | $159.1m | — | |
| Payments of Ordinary Dividends, Common Stock | $95.1m | $108.4m | $121.2m | $130.8m | $68.1m | $142.5m | $154.1m | $189.1m | $274.4m | $343.8m | ($364.6m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | ($869.3m) | ($358.7m) | ($58.7m) | ($159.1m) | ($74.2m) | |
| Repurchases of common stock | ($173.6m) | ($18.5m) | ($68.9m) | ($169.2m) | ($29.4m) | ($280.6m) | ($869.3m) | ($358.7m) | ($58.7m) | ($159.1m) | — | |
| Cash Dividends Paid | — | — | — | — | — | — | ($154.1m) | ($189.1m) | ($274.4m) | ($343.8m) | ($364.6m) | |
| Dividends | ($95) | ($108) | ($121) | ($131) | ($68) | ($142) | ($154) | ($189) | ($274) | ($344) | ($364.6m) | |
| Payments of Dividends | $95.1m | $108.4m | $121.2m | $130.8m | $68.1m | $142.5m | $154.1m | $189.1m | $274.4m | $343.8m | ($364.6m) | |
| Net Other Financing Charges | — | — | — | — | — | — | ($17.6m) | ($80.2m) | ($84.8m) | ($439.5m) | ($415.2m) | |
| Net Cash Provided by (Used in) Financing Activities | — | — | — | $2.6m |
($1.1b)
-40634.62%
|
($615.5m)
+41.60%
|
($798.0m)
-29.65%
|
($531.1m)
+33.45%
|
($164.7m)
+68.99%
|
($825.5m)
-401.21%
|
($222.0m)
+73.11%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($9.1m) | $2.1m | ($1.5m) | ($11.3m) | $21.4m | $51.2m | $5.8m | ($10.1m) | ($24.0m) | ($18.9m) | $70.2m | |
| Beginning Cash Position | — | — | — | — | — | — | $100.7m | $113.1m | $102.6m | $83.6m | $159.2m | |
| Cash and cash equivalents, beginning of period | $62.4m | $24.0m | $45.7m | $39.4m | $28.1m | $100.7m | $106.5m | $96.4m | $72.4m | $64.7m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | $100.7m | $106.5m | $96.4m | $72.4m | $64.7m | $70.2m | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($9.1m) | $2.1m | ($1.5m) | $200k | $10.0m | ($3.5m) | ($13.5m) | ($300k) | ($2.1m) | $6.5m | ($700k) | |
| Effect Of Exchange Rate Changes | ($9.1m) | $2.1m | ($1.5m) | $200k | $10.0m | ($3.5m) | ($13.5m) | ($300k) | ($2.1m) | $6.5m | ($700k) | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Additional Financial Items | ||||||||||||
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | ($798.0m) | ($572.4m) | ($201.6m) | ($825.5m) | ($222.0m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($641.7m) | ($583.0m) | ($1.0b) | ($175.0m) | ($761.0m) | |
| Change In Account Payable | — | — | — | — | — | — | $81.7m | ($13.5m) | $40.2m | ($53.0m) | $500k | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $5.8m | ($10.5m) | ($19.0m) | ($18.9m) | — | |
| Change In Other Working Capital | — | — | — | — | — | — | $82.6m | $147.8m | ($33.5m) | $44.8m | $52.7m | |
| Change In Payable | — | — | — | — | — | — | $568.8m | $705.5m | $313.5m | ($142.7m) | $500k | |
| Changes In Cash | — | — | — | — | — | — | $19.3m | ($10.2m) | ($16.9m) | ($25.4m) | ($89.0m) | |
| End Cash Position | — | — | — | — | — | — | $106.5m | $102.6m | $83.6m | $64.7m | $70.2m | |
| Financing Cash Flow | — | — | — | — | — | — | ($798.0m) |
($572.4m)
+28.27%
|
($201.6m)
+64.78%
|
($825.5m)
-309.47%
|
($222.0m)
+73.11%
|
|
| Floor plan notes payable | ($162.8m) | $276.3m | $27.4m | $83.9m | ($611.0m) | ($628.6m) | $487.1m | $659.7m | $316.1m | ($89.7m) | — | |
| Free Cash Flow | — | — | — | — | — | — | $1.2b | $759.2m | $852.8m | $650.5m | $592.1m | |
| Gain (Loss) on Disposition of Business | — | — | — | — | — | — | — | — | — | $52.3m | — | |
| Gain Loss On Sale Of Business | — | — | — | — | — | — | — | $0 | $0 | ($52.3m) | ($90.9m) | |
| Gain on sale of dealership | — | — | — | — | — | — | — | $0 | $0 | ($52.3m) | — | |
| Goodwill | $1.3b | $1.7b | $1.8b | $1.9b | $1.9b | $2.1b | $2.2b | $2.2b | $2.4b | $2.4b | $0 | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $343.9m | $613.5m | $470.5m | $435.5m | $543.2m | $1.2b | $1.4b | $1.1b | — | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $347.4m | $613.0m | $469.8m | $434.8m | $544.9m | $1.2b | $1.4b | $1.1b | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | ($1.0m) | ($200k) | $500k | $300k | $400k | $1.3m | $0 | $0 | — | — | — | |
| Income Tax Expense (Benefit) | $160.7m | ($64.8m) | $134.3m | $156.7m | $162.7m | $416.3m | $473.0m | $360.9m | $316.5m | $325.8m | — | |
| Income Taxes Paid, Net | $48.6m | ($29.7m) | $39.6m | $92.4m | $17.9m | $160.1m | $343.4m | $288.1m | $317.4m | $271.5m | — | |
| Interest | $129.8m | $163.2m | $190.2m | $204.9m | $168.5m | $95.3m | $112.8m | $214.3m | $271.6m | $274.2m | $281.0m | |
| Investing Cash Flow | — | — | — | — | — | — | ($641.7m) | ($583.0m) | ($1.0b) | ($175.0m) | ($761.0m) | |
| Net Business Purchase And Sale | — | — | — | — | — | — | ($380.3m) | ($214.9m) | ($683.4m) | $114.4m | ($499.8m) | |
| Net Intangibles Purchase And Sale | — | — | — | — | — | $4.3m | $13.1m | $0 | $82.1m | — | $82.1m | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($250.2m) | ($355.3m) | ($351.6m) | ($297.1m) | ($270.7m) | |
| Net change in cash and cash equivalents | ($38.4m) | $21.7m | ($6.3m) | ($11.3m) | $21.4m | $51.2m | $5.8m | ($10.1m) | ($24.0m) | ($18.9m) | — | |
| Note payable from purchase of common control entity | — | — | — | — | — | — | — | $0 | $0 | $155.8m | — | |
| Operating Gains Losses | — | — | — | — | — | — | ($183.3m) | ($174.6m) | ($127.9m) | ($172.5m) | ($218.5m) | |
| Operating Lease, Expense | — | — | — | — | $231.8m | $237.9m | $243.3m | — | — | — | — | |
| PMG common control transaction | — | — | — | — | — | — | — | $0 | $0 | ($363.6m) | — | |
| PMG distributions to partners | — | — | — | — | — | — | — | ($54.7m) | ($36.6m) | ($52.5m) | — | |
| Payments of Financing Costs | $6.7m | $4.0m | $1.9m | $400k | $8.1m | $6.3m | $300k | $2.1m | $1.0m | $500k | — | |
| Proceeds from sale of dealerships | $4.2m | $25.1m | $84.5m | $22.8m | $40.6m | $4.3m | $13.1m | $0 | $82.1m | $119.9m | — | |
| Purchase Of Business | — | — | — | — | — | — | ($393.4m) | ($214.9m) | ($786.2m) | ($21.5m) | ($691.2m) | |
| Purchase Of PPE | $203.1m | $247.0m | $305.6m | $245.3m | $185.9m | $248.9m | ($282.5m) | ($386.0m) | ($377.8m) | ($324.6m) | ($301.9m) | |
| Purchase of subsidiary shares from non-controlling interest | — | — | — | — | — | — | $0 | $0 | ($16.7m) | $0 | — | |
| Receivable from sale of investment | — | — | — | — | — | — | $0 | $0 | $10.4m | $0 | — | |
| Repayment of 3.50% senior subordinated notes | — | — | — | $0 | ($1.1b) | ($500.0m) | $0 | $0 | $0 | ($550.0m) | — | |
| Repayments of related party promissory note | — | — | — | — | — | — | — | $0 | $0 | ($4.3m) | — | |
| Repayments under revolving U.S. credit agreement and mortgage facilities | ($1.4b) | ($2.1b) | ($1.8b) | ($1.8b) | ($1.7b) | ($2.0b) | ($2.1b) | ($3.2b) | ($4.2b) | ($5.2b) | — | |
| Sale Of Business | — | — | — | — | — | — | $13.1m | $0 | $102.8m | $135.9m | $191.4m | |
| Sale Of Intangibles | — | — | — | — | — | $4.3m | $13.1m | $0 | $82.1m | — | $82.1m | |
| Sale Of PPE | — | — | — | — | — | — | $32.3m | $30.7m | $26.2m | $27.5m | $31.2m | |
| Stock Based Compensation | — | — | — | — | — | — | $26.7m | $28.1m | $29.4m | $30.2m | $29.1m | |
| Supplemental disclosure of cash flow information: |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.