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Penske Automotive Group (PAG)
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Penske Automotive Group Income Statement 2025-2007 | PAG
Brief overview of revenue and earnings at Penske Automotive Group
The overview follows changes across a five-year period. Revenue at Penske Automotive Group moved from $20.4 billion in 2020 to $7.8 billion in 2025. Overall revenue changed by −62%, equal to an annualized rate of about −17.6%. The business finished the period with a smaller revenue base.
At the gross-profit level, the result moved from $3.2 billion to $1.2 billion, a change of −60.9%. The relationship between sales and direct costs deteriorated. Comparing the endpoints gives gross margins of 15.6% and 16%. The economics of the core business remained steady.
The operating result measured by EBITDA moved from $820 million to $1.5 billion, or +77.2%. EBITDA grew faster than revenue, indicating positive operating leverage. At the operating-margin level, the figure shifted from 4% to 18.7%. The company improved its ability to convert sales into EBITDA.
The five-year change in net income was −65.8%: from $544 million to $186 million. The business generated less net income by the end of the period.
Market value was 4.6 billion dollars at the start and 10.4 billion dollars at the end. The valuation may already include demanding future expectations.
Conclusion
The figures do not all move in the same direction. The financial profile benefits from a stable gross margin and higher operating efficiency. The weaker side of the profile includes weak sales momentum and a weaker final result. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.
Annual Income Statement Penske Automotive Group
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
10.4 B | 11 B | 10.1 B | 10.8 B | 8.48 B | 4.63 B | 3.97 B | 3.97 B | 4.54 B | 4.67 B | 2.82 B | 4.37 B | 3.9 B | 2.86 B | 2.09 B | 1.14 B | 1.33 B | 1.87 B | - |
Shares |
66.2 M | 66.9 M | 68 M | 74.4 M | 79.7 M | 80.6 M | 82.5 M | 85.2 M | 85.9 M | 86 M | 89.8 M | 90.4 M | 90.3 M | 90.3 M | 91.3 M | 92 M | 91.6 M | 94 M | - |
Historical Prices |
158 | 164 | 149 | 146 | 106 | 57.5 | 47.8 | 37.1 | 42.8 | 44.8 | 35.6 | 40.5 | 38.3 | 24 | 15.1 | 12.4 | 14.5 | 19.9 | 22.5 |
Net Income |
186 M | 249 M | 1.11 B | 1.38 B | 1.19 B | 544 M | 436 M | 471 M | 613 M | 343 M | 326 M | 287 M | 244 M | 186 M | 177 M | 108 M | 76.5 M | -420 M | - |
Revenue |
7.77 B | 8.08 B | 30.9 B | 27.8 B | 25.6 B | 20.4 B | 23.2 B | 22.8 B | 21.4 B | 20.1 B | 19.3 B | 17.2 B | 14.7 B | 13.2 B | 11.6 B | - | - | - | - |
Cost of Revenue |
26.6 B | 26.6 B | 25.8 B | 23 B | 21.1 B | 17.3 B | 19.7 B | 19.4 B | 18.2 B | 17.2 B | 16.4 B | 14.7 B | 12.3 B | 10.9 B | 9.19 B | 8.36 B | 7.47 B | 9.85 B | - |
Gross Profit |
1.24 B | 1.31 B | 5.15 B | 4.84 B | 4.44 B | 3.18 B | 3.46 B | 3.41 B | 3.22 B | 2.97 B | 2.87 B | 2.57 B | 2.26 B | 2.01 B | 1.83 B | 1.59 B | 1.5 B | 1.79 B | - |
Operating Income |
1.28 B | 1.37 B | 1.41 B | 1.49 B | 1.36 B | 704 M | 653 M | 665 M | 611 M | 575 M | 566 M | 500 M | 430 M | 365 M | 292 M | 253 M | 200 M | -401 M | - |
Interest Expense |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 45 M | 48.9 M | 55.1 M | 54.5 M | - |
EBITDA |
1.45 B | 1.53 B | 1.55 B | 1.62 B | 1.48 B | 820 M | 762 M | 769 M | 706 M | 665 M | 644 M | 574 M | 498 M | 419 M | 347 M | 298 M | 200 M | -401 M | - |
Operating Expenses |
-36.9 M | -57 M | 3.74 B | 3.35 B | 3.08 B | 2.48 B | 2.8 B | 2.75 B | 2.61 B | 2.39 B | 2.3 B | 2.07 B | 1.82 B | 1.65 B | 1.53 B | 1.33 B | 1.3 B | 2.19 B | - |
General and Administrative Expenses |
3.76 B | 3.69 B | 3.55 B | 3.22 B | 2.96 B | 2.36 B | 2.58 B | 2.65 B | 2.4 B | 2.2 B | 2.12 B | 1.91 B | 1.68 B | 1.59 B | 1.48 B | 1.29 B | 1.25 B | 1.49 B | - |
Annual performance
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All numbers in USD currency
Quarterly Income Statement Penske Automotive Group
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q4 | 2010-Q3 | 2010-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
65.7 M | 65.7 M | 65.8 M | -118 K | 66 M | 66.2 M | 66.8 M | -19.9 K | 66.8 M | 66.9 M | 67.1 M | -242 K | 67.3 M | 68.2 M | 69.2 M | -1.18 M | 73.7 M | 75.8 M | 77.2 M | -527 K | 79.5 M | 80.7 M | 80.6 M | 226 K | 80.3 M | 80.4 M | 81.1 M | -473 K | 81.6 M | 82.9 M | 84.4 M | -83.4 K | 84.9 M | 84.9 M | 86 M | -22.8 K | 85.9 M | 86.1 M | 85.6 M | -199 K | 85.2 M | 85.3 M | 88.3 M | -440 K | 90.1 M | 90.2 M | 90.3 M | -81.2 K | 90.3 M | 90.4 M | 90.4 M | -26.3 K | 90.2 M | 90.3 M | 90.4 M | -12.1 K | 90.3 M | 90.3 M | 90.3 M | -952 K | 91.4 M | 92.5 M | 92.5 M | -79 K | 92 M | 92.1 M |
Net Income |
221 M | 261 M | 235 M | 187 M | 225 M | 268 M | 258 M | 250 M | 239 M | 256 M | 228 M | 248 M | 264 M | 303 M | 300 M | 299 M | 342 M | 376 M | 370 M | 313 M | 356 M | 340 M | 183 M | 201 M | 248 M | 44.8 M | 51.5 M | 101 M | 116 M | 118 M | 99.2 M | 97.2 M | 130 M | 135 M | 108 M | 329 M | 94.3 M | 107 M | 83 M | 82.7 M | 88.5 M | 95 M | 80.2 M | 71.3 M | 87.5 M | 95.7 M | 75.9 M | 73.2 M | 75.1 M | 73.9 M | 67.9 M | 59.7 M | 65.5 M | 62.5 M | 58 M | 49.3 M | 41.3 M | 49.6 M | 47 M | 48.2 M | 56 M | 40.1 M | 34 M | 29.1 M | 30.3 M | 29.7 M |
Revenue |
8.42 B | 8.51 B | 7.86 B | 7.77 B | 8.05 B | 8.03 B | 7.95 B | 8.08 B | 7.93 B | 8.06 B | 7.79 B | 8.66 B | 7.45 B | 7.47 B | 7.34 B | 7.01 B | 6.92 B | 6.91 B | 6.98 B | 6.3 B | 6.5 B | 6.99 B | 5.77 B | 5.81 B | 5.97 B | 3.65 B | 5.01 B | 5.88 B | 5.97 B | 5.76 B | 5.56 B | 5.44 B | 5.66 B | 5.94 B | 5.75 B | 5.4 B | 5.52 B | 5.38 B | 5.08 B | 4.89 B | 5.15 B | 5.25 B | 4.82 B | 4.92 B | 4.96 B | 4.92 B | 4.48 B | 4.43 B | 4.4 B | 4.37 B | 16.6 B | 3.79 B | 14.7 B | 14.7 B | 14.7 B | 3.32 B | 3.34 B | 3.32 B | 3.16 B | 2.86 B | 2.9 B | 2.77 B | 2.67 B | - | - | - |
Cost of Revenue |
7.09 B | 7.16 B | 6.56 B | 6.53 B | 6.75 B | 6.68 B | 6.63 B | 7.66 B | 6.35 B | 6.43 B | 6.2 B | 7.26 B | 6.23 B | 6.2 B | 6.09 B | 5.83 B | 5.73 B | 5.67 B | 5.74 B | 5.12 B | 5.33 B | 5.8 B | 4.86 B | 4.91 B | 5.02 B | 3.1 B | 4.23 B | 5.03 B | 5.1 B | 4.89 B | 4.71 B | 4.63 B | 4.81 B | 5.05 B | 4.88 B | 4.59 B | 4.7 B | 4.57 B | 4.31 B | 4.16 B | 4.41 B | 4.48 B | 4.1 B | 4.2 B | 4.23 B | 4.19 B | 3.79 B | 3.77 B | 3.75 B | 3.72 B | 3.4 B | 3.2 B | 3.19 B | 3.07 B | 2.82 B | 2.61 B | 2.83 B | 2.81 B | 2.66 B | 2.17 B | 2.44 B | 2.37 B | 2.31 B | 1.89 B | 2.25 B | 2.2 B |
Gross Profit |
1.32 B | 1.36 B | 1.3 B | 1.24 B | 1.3 B | 1.35 B | 1.32 B | 1.31 B | 1.29 B | 1.32 B | 1.29 B | 1.4 B | 1.22 B | 1.27 B | 1.25 B | 1.18 B | 1.19 B | 1.24 B | 1.23 B | 1.18 B | 1.17 B | 1.18 B | 913 M | 898 M | 956 M | 553 M | 777 M | 866 M | 870 M | 868 M | 852 M | 808 M | 853 M | 890 M | 864 M | 808 M | 823 M | 817 M | 774 M | 727 M | 744 M | 771 M | 724 M | 717 M | 729 M | 731 M | 690 M | 660 M | 648 M | 656 M | 615 M | 571 M | 558 M | 548 M | 520 M | 513 M | 499 M | 502 M | 492 M | 440 M | 450 M | 445 M | 426 M | 417 M | 417 M | 414 M |
Operating Income |
303 M | 338 M | 289 M | 275 M | 311 M | 365 M | 329 M | 387 M | 317 M | 338 M | 328 M | 324 M | 332 M | 381 M | 374 M | 336 M | 363 M | 388 M | 402 M | 356 M | 378 M | 403 M | 220 M | 242 M | 284 M | 71.4 M | 106 M | 153 M | 169 M | 172 M | 159 M | 137 M | 164 M | 189 M | 176 M | 137 M | 152 M | 172 M | 150 M | 125 M | 142 M | 164 M | 144 M | 126 M | 146 M | 159 M | 136 M | 118 M | 128 M | 136 M | 121 M | 103 M | 109 M | 112 M | 105 M | 92.4 M | 87.7 M | 91 M | 94.2 M | 75.3 M | 78.6 M | 69.7 M | 72.1 M | 58.3 M | 67.2 M | 65.6 M |
Interest Expense |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 11.6 M | 12.2 M | 11.8 M | 11.3 M | 10.5 M | 11.3 M | 11.7 M | 12.2 M | 12.5 M |
EBITDA |
349 M | 383 M | 334 M | 320 M | 355 M | 408 M | 370 M | 431 M | 358 M | 377 M | 365 M | 364 M | 367 M | 415 M | 407 M | 368 M | 394 M | 419 M | 434 M | 388 M | 408 M | 433 M | 249 M | 273 M | 313 M | 99.3 M | 135 M | 181 M | 197 M | 199 M | 185 M | 163 M | 190 M | 214 M | 201 M | 162 M | 176 M | 195 M | 173 M | 148 M | 163 M | 189 M | 165 M | 146 M | 166 M | 178 M | 154 M | 138 M | 145 M | 153 M | 137 M | 118 M | 125 M | 127 M | 120 M | 105 M | 101 M | 104 M | 107 M | 85.5 M | 91 M | 69.7 M | 72.1 M | 58.3 M | 67.2 M | 65.6 M |
Operating Expenses |
1.02 B | 1.02 B | 1.01 B | 969 M | 989 M | 987 M | 992 M | 926 M | 976 M | 978 M | 967 M | 1.08 B | 889 M | 892 M | 879 M | 848 M | 824 M | 849 M | 830 M | 823 M | 788 M | 780 M | 694 M | 656 M | 672 M | 482 M | 670 M | 714 M | 700 M | 696 M | 693 M | 672 M | 689 M | 701 M | 689 M | 671 M | 670 M | 645 M | 624 M | 602 M | 603 M | 607 M | 580 M | 591 M | 583 M | 572 M | 554 M | 542 M | 520 M | 521 M | 494 M | 468 M | 449 M | 436 M | 415 M | 421 M | 411 M | 411 M | 398 M | 365 M | 371 M | 376 M | 354 M | 359 M | 349 M | 348 M |
General and Administrative Expenses |
976 M | 974 M | 966 M | 924 M | 945 M | 944 M | 951 M | 1.03 B | 885 M | 888 M | 880 M | 997 M | 854 M | 858 M | 845 M | 816 M | 793 M | 818 M | 798 M | 791 M | 758 M | 750 M | 664 M | 626 M | 643 M | 454 M | 642 M | 685 M | 673 M | 669 M | 666 M | 645 M | 663 M | 675 M | 663 M | 646 M | 646 M | 622 M | 602 M | 579 M | 581 M | 583 M | 559 M | 571 M | 563 M | 553 M | 536 M | 523 M | 502 M | 502 M | 477 M | 425 M | 446 M | 433 M | 407 M | 370 M | 400 M | 401 M | 387 M | 312 M | 370 M | 374 M | 355 M | 284 M | 339 M | 340 M |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company Penske Automotive Group (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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