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Penske Automotive Group, Inc. (PAG) stock

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NYSE: PAG NYSE Automotive Retail Next results ~February 10, 2027

B Fundamentals grade

Penske Automotive Group, Inc. is a US-listed company in the automotive retail industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$140

Cash-flow model

Base case. Range ~$97–$200 across our lower- and higher-growth cases (-2.5%–7.5% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 33% below it.

Price used: $213.25, November 2, 2026

Penske Automotive Group, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 2 selling0 purchases and 3 sales by directors and officers, last 12 monthsInsider trades
  • Funds199 adding, 145 cuttingOf 37 active managers that changed their stake, 11 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Penske Automotive Group files

10-Q filed October 29: Penske Automotive

Penske Automotive Group's revenue reached $32.6bn in the twelve months to September 2026, a rise of 1.4% on the prior year and an acceleration from the 0.6% growth seen a quarter earlier. Free-cash-flow margin, however, slipped to 1.5%, down from 2.6% a year before. Our model value has barely moved, sitting at $140 a share, well below the current price of $212. The rating remains Sell. At today's price, the market appears to be pricing in cash-flow growth of about 8.8% a year over the next five years, a pace well above the 5.0% a year revenue growth the company has actually delivered. That gap between implied expectations and recent performance underpins our view that the shares are overvalued.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Penske Automotive stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $32.2bn, up 0.6% on a year earlier, faster than -1.0% a quarter earlier. Free-cash-flow margin held at 1.8%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 6 financial-health checks. Our cash-flow model value is $141 a share, against a share price of $212. At that price, our model says the market is pricing in about 8.4% a year of cash-flow growth for five years, faster than the 4.7% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 10, 2027 (estimated)

Penske Automotive Group, Inc.'s trailing-twelve-month revenue grew 1.4% year on year, with a free-cash-flow margin of 1.5%. Where it stands out: stock pay as % of revenue of 0.1% ranks 1 of 22 automotive retail companies we cover.

Our discounted-cash-flow model values the business at ~$140 per share in the base case (~$97–$200 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 40.6% while net income fell 9.7%: a 31pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 1.1% in a year, so each share owns more of the business.

Things to watch

  • Priced above our value. The share price of $213.25 is 33% above our value per share of $140.
  • Weak cash conversion. Free cash flow was 55% of net income over the last 12 months.
  • Heavily shorted. 15.4% of the shares available to trade are sold short (4.6 days of average volume to cover).

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$3.36 against an average estimate of $3.34: beat by 0.6%
Revenue
$8.42bn, up 4.5% on a year earlier
Share reaction
+0.1% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Next report
October 28, 2026; average EPS estimate $3.23

Penske Automotive Group's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.5%
  • 1 week+0.5%
  • 1 month+4.5%
  • This year+38.0%
  • 1 year+37.6%
  • 5 years+119.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$32.6B
Operating margin
3.7%
Net margin
2.8%
EPS (TTM, diluted)
$13.72

Growth

Revenue growth
+1.4%
Change in growth rate
+0.7 pts
Share count change
−1.1%

Cash

Free cash flow (TTM)
$498M
FCF margin
1.5%
Stock pay % of revenue
0.1%

Earnings

Last results
October 28, 2026
Next results (est.)
February 10, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Announcement
  3. Dividend
  4. Leadership
  5. Announcement
  6. Results
  7. Dividend
  8. Announcement
  9. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Penske Automotive Group, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 8.9% a year of cash-flow growth for five years.That is close to the 5.0% a year revenue growth Penske Automotive Group has delivered.

  • Priced in8.9%
  • Last 12 months1.4%
  • 3 years a year3.6%
  • 5 years a year5.0%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($213.50, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$140
Price used
$213.50close November 3, 2026
Implied change
▼ 34%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Penske Automotive Group, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($662M, FY2026 Q3 TTM), growing 5.1% and 2.6% in the next two years (forecasts, guidance and its record), then back to 2.5% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$97–~$200 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Penske Automotive Group, Inc.'s free cash flow after stock-based pay ( $662M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Penske Automotive Group, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.74 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$140 ~$97–$200 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$170 ~$120–$250 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$420 ~$300–$600 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$350 ~$290–$430 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$240 ~$140–$420 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Penske Automotive Group, Inc. with Automotive Retail in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −35%
  • Revenue growth 5 points higher ▲ +46%
  • Free-cash-flow margin 1 point lower ▼ −91%
  • Last year's free-cash-flow margin change, if it persists ▼ −50%
  • Discount rate 1 point higher ▼ −20%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $110$162$231$322$441$594
8.5% $76$114$164$229$313$422
10% $56$85$123$173$237$320

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$32.12$40.51$38.44$33.36$43.01$51.66$95.24$104.03$148.03$144.26$154.54$213.25
Market value$2.9bn$3.5bn$3.3bn$2.8bn$3.5bn$4.2bn$7.6bn$7.7bn$10.1bn$9.6bn$10.2bn$14.0bn
+ Net debt (− = net cash)$1.2bn$1.9bn$2.1bn$2.2bn$2.3bn$1.6bn$1.4bn$1.5bn$1.5bn$1.8bn$2.1bn$2.3bn
Enterprise value$4.1bn$5.3bn$5.4bn$5.0bn$5.9bn$5.8bn$9.0bn$9.3bn$11.6bn$11.4bn$12.3bn$16.3bn
Multiples
Price / sales 0.1x0.2x0.2x0.1x0.2x0.2x0.3x0.3x0.3x0.3x0.3x0.4x
Price / earnings 8.8x10.2x5.4x6.0x8.1x7.7x6.4x5.6x9.1x10.0x10.9x15.5x
Price / free cash flow 14.5x20.7x8.8x9.2x13.0x4.1x7.3x6.6x13.3x11.3x15.7x28.2x
EV / EBITDA 6.4x8.0x7.7x6.5x7.7x7.1x6.1x5.7x7.5x7.5x8.5x11.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

51 /100

Moderate moat

How hard Penske Automotive Group's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 7 / 20

    Cash operating profit has been a median 6.7% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 16.2%, moving by 0.9 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median 3.9%; its worst year was 2.8%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 10 of 10 years, at a median 2.4% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 18.2% over five years; stock-based pay has been a median 0.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (56 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $13.24 −0% $32.6bn +7%
Next $14.05 +4% $33.6bn +3%

Next year's EPS estimate has moved −0.2% in 90 days, across 5 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.9% on 90 days ago. In the last 30 days, 0 analysts raised Penske Automotive Group, Inc.'s forecast and 4 cut it.

Consensus EPS forecast Penske Automotive Group, Inc., last 90 days
$13.00 $13.50 $14.00 $14.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $13.36 Current fiscal year, 60 days ago: $13.59 Current fiscal year, 30 days ago: $13.59 Current fiscal year, 7 days ago: $13.27 Current fiscal year, Now: $13.24 $13.24 Next fiscal year, 90 days ago: $14.08 Next fiscal year, 60 days ago: $14.18 Next fiscal year, 30 days ago: $14.18 Next fiscal year, 7 days ago: $14.12 Next fiscal year, Now: $14.05 $14.05

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $13.36$14.08
60 days ago $13.59$14.18
30 days ago $13.59$14.18
7 days ago $13.27$14.12
Now $13.24$14.05

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $3.34 $3.36 +0.6%
Jun 2026 $3.39 $3.62 +6.7%
Mar 2026 $2.88 $3.05 +5.7%
Dec 2025 $3.09 $2.85 −7.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 29, 2026

No numeric guidance in Penske Automotive Group, Inc.'s latest earnings release (filed July 29, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Penske Automotive Group, Inc.'s revenue by +5.1% next year and +2.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+6.4%, weight 68%) and the company's own record (+2.5%, weight 32%) . How the weights are set.

Analyst recommendations

9 analysts, Oct 2026
Buy222%
Hold778%
Sell00%

Monthly trend

  1. Oct 20261179
  2. Sep 202611810
  3. Aug 202611810

Counts of recommendations published by analysts covering Penske Automotive Group, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
15.4%
of tradable shares
Days to cover
4.61
at average volume
Short interest, 1 month
+30%
to October 15, 2026
Held by institutions
81%
of shares
Held by insiders
21.2%
of shares
Employees
28,600
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +37.6%

$154.93 on October 31, 2025 to $213.25

ThenNowEffect
Revenue (last 12 months) $32.0bn $32.2bn +0.6%
Net margin 3.2% 2.8% −11.1%
P/E multiple 10.2x 15.5x +51.9%
Share count 67m 66m +1.2%

Biggest factor: p/e multiple.

Last 3 years +48.9%

$143.23 on November 3, 2023 to $213.25

ThenNowEffect
Revenue (last 12 months) $28.7bn $32.2bn +12.0%
Net margin 4.3% 2.8% −34.7%
P/E multiple 8.2x 15.5x +90.0%
Share count 70m 66m +7.1%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
PAG+84%+9%+42%−3%+7%+38%
Industry peers (median)+38%−25%+16%+1%−17%−10%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
PAG75%50%67%42%58%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
PAG−21%−23%−20%−14%−20%−20%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 60% from December 12, 2019 to March 23, 2020. Getting back needed a 150% gain, reached on October 6, 2020, 197 days after the low.

Price behaviour

52-week range
$138.47 – $221.97
From 52-week high
−3.9%
vs 50-day average
+1.3%
vs 200-day average
+17.6%
Volatility (1 year)
28%
Beta vs S&P 500
0.56

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±2.7%
After a week
4 up, 7 down
typical move ±2.3%
After a month
7 up, 4 down
typical move ±5.2%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 +0.1% 0.0% — —
July 29, 2026 +0.3% +0.1% −1.9% −0.3%
April 29, 2026 +6.2% +1.0% +5.1% +4.5%
February 11, 2026 +7.8% −1.6% +0.8% −10.5%
October 29, 2025 −1.2% −1.1% −3.2% +0.1%
July 30, 2025 −0.4% −0.5% +6.0% +12.1%
April 30, 2025 −1.3% +0.7% −1.6% +5.0%
February 13, 2025 +6.0% +1.1% −0.6% −8.4%
October 29, 2024 −2.1% −0.1% −0.5% +7.9%
July 31, 2024 +3.9% +0.2% −3.3% +3.5%
April 30, 2024 −2.2% −1.9% −1.4% −2.6%
February 7, 2024 −1.1% +0.9% +1.1% +2.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Penske Automotive Group, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Penske Automotive Group, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Penske Automotive Group, Inc.
$30.5B $31B $31.5B $32B $32.5B $33B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $30.9B Revenue (TTM), FY24 Q1: $31.4B Revenue (TTM), FY24 Q2: $32B Revenue (TTM), FY24 Q3: $32.4B Revenue (TTM), FY24 Q4: $31.9B Revenue (TTM), FY25 Q1: $32B Revenue (TTM), FY25 Q2: $32B Revenue (TTM), FY25 Q3: $32.1B Revenue (TTM), FY25 Q4: $31.8B Revenue (TTM), FY26 Q1: $31.7B Revenue (TTM), FY26 Q2: $32.2B Revenue (TTM), FY26 Q3: $32.6B $32.6B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $30.9B
FY24 Q1 $31.4B
FY24 Q2 $32B
FY24 Q3 $32.4B
FY24 Q4 $31.9B
FY25 Q1 $32B
FY25 Q2 $32B
FY25 Q3 $32.1B
FY25 Q4 $31.8B
FY26 Q1 $31.7B
FY26 Q2 $32.2B
FY26 Q3 $32.6B
Revenue growth, TTM YoY Penske Automotive Group, Inc.
-5% 0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 11.2% Revenue growth, TTM YoY, FY24 Q1: 11.3% Revenue growth, TTM YoY, FY24 Q2: 11.2% Revenue growth, TTM YoY, FY24 Q3: 10.9% Revenue growth, TTM YoY, FY24 Q4: 3.1% Revenue growth, TTM YoY, FY25 Q1: 2.1% Revenue growth, TTM YoY, FY25 Q2: 0.1% Revenue growth, TTM YoY, FY25 Q3: -1.0% Revenue growth, TTM YoY, FY25 Q4: -0.2% Revenue growth, TTM YoY, FY26 Q1: -1.0% Revenue growth, TTM YoY, FY26 Q2: 0.6% Revenue growth, TTM YoY, FY26 Q3: 1.4% 1.4%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 11.2%
FY24 Q1 11.3%
FY24 Q2 11.2%
FY24 Q3 10.9%
FY24 Q4 3.1%
FY25 Q1 2.1%
FY25 Q2 0.1%
FY25 Q3 -1.0%
FY25 Q4 -0.2%
FY26 Q1 -1.0%
FY26 Q2 0.6%
FY26 Q3 1.4%
Operating margin (TTM) Penske Automotive Group, Inc.
3.5% 4% 4.5% 5% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 4.6% Operating margin (TTM), FY24 Q1: 4.3% Operating margin (TTM), FY24 Q2: 4.1% Operating margin (TTM), FY24 Q3: 4.0% Operating margin (TTM), FY24 Q4: 4.3% Operating margin (TTM), FY25 Q1: 4.3% Operating margin (TTM), FY25 Q2: 4.4% Operating margin (TTM), FY25 Q3: 4.3% Operating margin (TTM), FY25 Q4: 4.0% Operating margin (TTM), FY26 Q1: 3.9% Operating margin (TTM), FY26 Q2: 3.8% Operating margin (TTM), FY26 Q3: 3.7% 3.7%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 4.6%
FY24 Q1 4.3%
FY24 Q2 4.1%
FY24 Q3 4.0%
FY24 Q4 4.3%
FY25 Q1 4.3%
FY25 Q2 4.4%
FY25 Q3 4.3%
FY25 Q4 4.0%
FY26 Q1 3.9%
FY26 Q2 3.8%
FY26 Q3 3.7%
FCF margin (TTM) Penske Automotive Group, Inc.
1.5% 2% 2.5% 3% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 2.5% FCF margin (TTM), FY24 Q1: 2.9% FCF margin (TTM), FY24 Q2: 2.6% FCF margin (TTM), FY24 Q3: 2.1% FCF margin (TTM), FY24 Q4: 2.7% FCF margin (TTM), FY25 Q1: 2.2% FCF margin (TTM), FY25 Q2: 2.2% FCF margin (TTM), FY25 Q3: 2.6% FCF margin (TTM), FY25 Q4: 2.1% FCF margin (TTM), FY26 Q1: 1.9% FCF margin (TTM), FY26 Q2: 1.8% FCF margin (TTM), FY26 Q3: 1.5% 1.5%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 2.5%
FY24 Q1 2.9%
FY24 Q2 2.6%
FY24 Q3 2.1%
FY24 Q4 2.7%
FY25 Q1 2.2%
FY25 Q2 2.2%
FY25 Q3 2.6%
FY25 Q4 2.1%
FY26 Q1 1.9%
FY26 Q2 1.8%
FY26 Q3 1.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Penske Automotive Group took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $31.8B
  2. Cost of revenue $26.6B · 83.6%
  3. Gross profit $5.2B · 16.4%
  4. Selling, general and admin $3.8B · 11.8%
  5. Other operating costs $172M · 0.5%
  6. Operating income $1.3B · 4.0%
  7. Income tax $326M · 1.0%
  8. Net income $935M · 2.9%

Shares of revenue. Source: Penske Automotive Group's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 9.0 9.9 11.0 12.9 14.5 17.2 19.3 20.1 21.4 22.8 23.2 20.4 25.6 27.8 30.9 31.9 31.8 32.6
Gross profit 1.5 1.6 1.8 2.0 2.2 2.6 2.9 3.0 3.2 3.4 3.5 3.2 4.4 4.8 5.1 5.2 5.2 5.2
EBITDA — 0.3 0.3 0.4 0.5 0.6 0.6 0.7 0.7 0.8 0.8 0.8 1.5 1.6 1.6 1.5 1.5 1.4
Operating income 0.2 0.3 0.3 0.4 0.4 0.5 0.6 0.6 0.6 0.7 0.7 0.7 1.4 1.5 1.4 1.4 1.3 1.2
Net income 0.1 0.1 0.2 0.2 0.2 0.3 0.3 0.3 0.6 0.5 0.4 0.5 1.2 1.4 1.1 1.0 0.9 0.9
Diluted EPS $0.83 $1.18 $1.94 $2.05 $2.70 $3.17 $3.63 $3.99 $7.14 $5.53 $5.28 $6.74 $14.89 $18.55 $16.31 $14.49 $14.13 $13.72
Growth (year on year)
Revenue −22.6% +10.3% +11.0% +16.9% +12.2% +19.0% +11.9% +4.3% +6.3% +6.5% +1.7% −11.8% +25.0% +8.8% +11.2% +3.1% −0.2% +1.4%
EBITDA — — +14.6% +22.2% +17.3% +16.6% +13.0% +3.1% +6.3% +8.8% −0.8% +7.6% +80.2% +9.3% −3.8% −1.4% −5.1% −11.5%
Operating income — +25.9% +16.5% +23.7% +17.7% +16.4% +13.2% +1.5% +6.3% +8.8% −1.8% +7.9% +92.5% +9.7% −5.3% −2.8% −6.5% −13.5%
Net income — — — — — — — — — −23.2% −7.5% — +118.5% +16.2% −19.7% −12.6% −3.5% −9.7%
Diluted EPS — — — — — — — — — −22.5% −4.5% — +120.9% +24.6% −12.1% −11.2% −2.5% −8.7%
Margins
Gross margin 16.7% 15.9% 15.9% 15.3% 15.2% 15.0% 14.9% 14.7% 15.1% 15.0% 14.9% 15.6% 17.4% 17.4% 16.6% 16.4% 16.4% 16.0%
EBITDA margin — 3.0% 3.1% 3.2% 3.4% 3.3% 3.3% 3.3% 3.3% 3.4% 3.3% 4.0% 5.8% 5.8% 5.0% 4.8% 4.6% 4.3%
Operating margin 2.2% 2.5% 2.7% 2.8% 3.0% 2.9% 2.9% 2.9% 2.9% 2.9% 2.8% 3.4% 5.3% 5.3% 4.6% 4.3% 4.0% 3.7%
Net margin 0.8% 1.1% 1.6% 1.4% 1.7% 1.7% 1.7% 1.7% 2.9% 2.1% 1.9% 2.7% 4.6% 5.0% 3.6% 3.0% 2.9% 2.8%
Free-cash-flow margin 2.4% 1.3% 0.0% 1.4% 0.9% 1.1% 1.0% 0.8% 1.8% 1.4% 1.2% 5.0% 4.1% 4.2% 2.5% 2.7% 2.0% 1.5%
Cash flow
Cash from operations 0.3 0.2 0.1 0.3 0.3 0.4 0.4 0.4 0.6 0.6 0.5 1.2 1.3 1.5 1.1 1.2 1.0 0.8
Capital spending 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.2 0.2 0.2 0.3 0.4 0.4 0.3 0.3
Free cash flow 0.2 0.1 0.0 0.2 0.1 0.2 0.2 0.2 0.4 0.3 0.3 1.0 1.0 1.2 0.8 0.9 0.7 0.5
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Free cash flow after stock pay 0.2 0.1 −0.0 0.2 0.1 0.2 0.2 0.2 0.4 0.3 0.3 1.0 1.0 1.1 0.7 0.8 0.6 0.5
Balance sheet
Cash 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1
Total debt 0.9 0.8 0.9 0.9 1.0 1.4 1.3 1.9 2.2 2.2 2.4 1.7 1.5 1.6 1.6 1.9 2.2 2.4
Net debt (negative = net cash) 0.9 0.8 0.8 0.9 0.9 1.3 1.2 1.9 2.1 2.2 2.3 1.6 1.4 1.5 1.5 1.8 2.1 2.3
Diluted shares 92m 92m 91m 90m 90m 90m 90m 86m 86m 85m 82m 81m 80m 74m 68m 67m 66m 66m
Returned to shareholders
Dividends — — 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.4
Buybacks — 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.1 0.2 0.0 0.3 0.9 0.4 0.1 0.2 0.1
Total returned — 0.0 0.1 0.1 0.1 0.1 0.1 0.3 0.1 0.2 0.3 0.1 0.4 1.0 0.5 0.3 0.5 0.4

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · September 30, 2026
What it owns · $18.4bn
Short-term assets $6.4bnLonger-term assets $12.0bn
What it owes, and who funded it · $18.4bn
Short-term liabilities $6.5bnLonger-term liabilities $6.0bnShareholders' equity $5.9bn
  • Short-term assets cover short-term liabilities $6.4bn of assets due within a year against $6.5bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $6.4bn short-term assets against $6.0bn of longer-dated liabilities.
  • More cash than debt $68m of cash against $2.4bn of debt.
  • Debt below 40% of shareholders' equity Debt is 40% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 33% to 40% over five years.
  • A year's operating cash flow covers at least 20% of debt $800m of operating cash flow against $2.4bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Penske Automotive Group, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$66.4M
Dividends (TTM)
$372M
Returned to shareholders
88%
of free cash flow
Buybacks, last 3 fiscal years
$577M
Diluted share count
−1.1%
year over year
Total shareholder yield
3.1%
dividends 2.7% + buybacks 0.5% of market value
Dividend payout ratio
41%
of net income paid out
Sales & admin spending
11.8%
of revenue

Competitors: side by side with peers

Closest by revenue in automotive retail
Last 12 months unless stated PAG LAD KMX CVNA AN MUSA Median
Revenue, last 12 months $32.6bn $38.2bn $27.6bn $27.5bn $27.4bn $23.3bn $8.6bn
Revenue growth, last 12 months 1.4% 1.6% 4.8% 50.3% −1.8% 20.2% −0.8%
Revenue growth, 3-year average 3.6% 8.0% 0.8% 34.9% 0.7% 2.1% 2.1%
Revenue growth, latest quarter 4.5% 2.8% 19.5% 42.4% −0.4% 34.8% 1.2%
Gross margin 16.0% 15.1% 10.3% 19.0% 17.7% — 23.4%
Operating margin 3.7% 4.0% — 8.7% 4.6% 4.2% 3.7%
Operating margin, 3-year average 4.0% 4.3% — 7.9% 4.7% 3.9% 4.0%
Net margin 2.8% 2.1% 1.1% 6.2% 2.6% 2.9% 1.3%
Cash from operations / revenue 2.5% −0.2% 5.8% 4.8% 1.1% 4.9% 2.5%
Free-cash-flow margin 1.5% −1.1% 4.1% 4.1% 0.1% 2.9% 1.1%
Free-cash-flow margin, 3-year average 2.1% −0.7% 3.0% 3.8% −0.5% 2.3% 2.2%
Stock pay / revenue 0.1% 0.1% 0.4% 0.4% 0.2% 0.1% 0.3%
Change in share count −1.1% −11.8% −6.4% 16.7% −11.1% −6.6% −1.1%

Median of all 23 companies we cover in automotive retail. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

23 automotive retail companies
Measure Company Peer median Rank
Revenue growth Growth 1.4% -0.8% 11 of 23
Change in growth rate Growth +0.7pp -0.5pp 9 of 23
Gross margin Profitability 16.0% 27.7% 14 of 20
Operating margin Profitability 3.7% 3.7% 10 of 21
Net margin Profitability 2.8% 1.3% 7 of 23
Free-cash-flow margin Cash generation 1.5% 1.1% 10 of 23
Stock pay as % of revenue Cash generation 0.1% 0.3% 1 of 22
Long-term debt as % of assets Balance sheet 11.2% 28.4% 3 of 19
Change in share count Balance sheet -1.1% -1.1% 10 of 19

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Retail Automotive Dealership $27.5B ▼ 0.3%
Retail Commercial Truck Dealership $3.4B ▼ 3.1%
Commercial Vehicle Distribution and Other $923M ▲ 18.6%
All Other Segments $923M ▲ 18.6%
Non Automotive Investments $0 —

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
United States $19.6B 61.6% ▲ 2.4%
United Kingdom $8.3B 26.2% ▼ 10.6%
Non US and Non UK $3.9B 12.2% ▲ 14.0%

From Penske Automotive Group, Inc.'s 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3.3B
Institutions reporting
388
Shares held vs prior quarter
▲ 4.0%
Positions opened / closed
56 / 42

Top buyers and sellers, Q2 2026: 199 institutions bought and 145 sold ; the biggest buyer was Dimensional Fund Advisors LP (+200K shares) and the biggest seller Squarepoint Ops LLC (−76K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $418M 2.3M 12.8% ▼ 2.8%
Dimensional Fund Advisors LP $295M 1.6M 9.0% ▲ 13.8%
Victory Capital Management Inc $294M 1.6M 9.0% ▼ 0.7%
Bank Of Montreal $148M 825K 4.5% ▲ 0.1%
Vanguard Portfolio Management LLC $143M 797K 4.4% ▼ 2.4%
Vanguard Capital Management LLC $137M 764K 4.2% ▲ 0.8%
LSV Asset Management $121M 679K 3.7% ▼ 6.4%
Charles Schwab Investment Management Inc $113M 632K 3.5% ▲ 10.4%
State Street Corp $112M 625K 3.4% ▼ 1.6%
Morgan Stanley $105M 585K 3.2% ▲ 1.2%
AQR Capital Management LLC $81.6M 456K 2.5% ▼ 0.8%
Bank Of America Corp $79.1M 442K 2.4% ▼ 4.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Penske Automotive Group, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $832,167 3 trades by 2 insiders · 0% under pre-set plans
Net ▼ $832,167 net selling
Insider Date Trade Shares Price Value
Hulgrave Michelle EVP & CFO June 2, 2026 Sell 1,500 $171.80 $257,700
Smith Greg C Director May 18, 2026 Sell 1,488 $160.02 $238,110
Hulgrave Michelle EVP & CFO November 24, 2025 Sell 2,100 $160.17 $336,357

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Penske Automotive Group, Inc. disclosed in the last 12 months; 1 earlier trade on record.

  • Thomas MacArthur(NJ):Sale (full), $1,001 - $15,000, traded February 1, 2016, filed March 3, 2016

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 10, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 29, 2026
  • April 29, 2026
  • February 11, 2026
  • October 29, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Penske Automotive Group, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Penske Automotive Group, Inc. in brief

What does Penske Automotive Group, Inc. do?
Penske Automotive Group, Inc. is a US-listed company in the automotive retail industry. Its financial year ends in December.
What is Penske Automotive Group, Inc.'s stock ticker?
Penske Automotive Group, Inc. trades under the ticker PAG on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Penske Automotive Group, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Penske Automotive Group, Inc. reported revenue of $32.6B, 1.4% higher than a year earlier, according to its SEC filings.
What is Penske Automotive Group, Inc.'s free cash flow?
Penske Automotive Group, Inc.'s free-cash-flow margin is 1.5% of revenue over the trailing twelve months, ranking 10 of the 23 automotive retail companies we cover.
What is Penske Automotive Group, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Penske Automotive Group, Inc.'s free cash flow after stock-based pay gives ~$140 per share in the base case, and ~$97–$200 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Penske Automotive Group, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Dimensional Fund Advisors LP and Victory Capital Management Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Penske Automotive Group, Inc. buying back stock, and does it pay a dividend?
Penske Automotive Group, Inc. spent $66.4M on share repurchases over the trailing twelve months, and its diluted share count fell 1.1% over the year.
What is Penske Automotive Group, Inc.'s market cap?
On November 2, 2026, Penske Automotive Group, Inc.'s market capitalisation was about $14B, with a price-to-earnings ratio of 15.5 and net debt of $2.3B. Market figures come from third-party market data and may be delayed.
Does Penske Automotive Group, Inc. pay a dividend?
Yes: Penske Automotive Group, Inc. paid $372M in dividends over the trailing twelve months, a dividend yield of 2.66% and a payout ratio of 41.3%.
How much debt does Penske Automotive Group, Inc. have?
Penske Automotive Group, Inc.'s debt-to-equity ratio is 39.8%, from its latest balance sheet (33.4% five years earlier). The financial health section below sets out its other solvency checks.
Who are Penske Automotive Group, Inc.'s competitors?
In our Automotive Retail peer group, the companies closest to Penske Automotive Group, Inc. are Lithia Motors Inc, Carmax Inc, Carvana, Autonation, Inc. and Murphy USA Inc. The side-by-side comparison below sets their revenue, margins and growth against Penske Automotive Group, Inc.'s.
Are insiders buying or selling Penske Automotive Group, Inc. stock?
Over the last 12 months, Penske Automotive Group, Inc.'s directors and officers reported 0 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is Penske Automotive Group, Inc.'s next earnings date?
Around February 10, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Penske Automotive Group, Inc. announces its own schedule.