AutoNation vs Penske Automotive Group
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The short version
- Penske Automotive Group is the larger business, with $31.8B of revenue in fiscal 2025 against $27.6B for AutoNation.
- AutoNation grew revenue faster (3.2%, against −0.2%).
- Penske Automotive Group turned more of its sales into free cash flow (2.1% FCF margin, against −0.7%).
- AutoNation earned a higher return on the capital invested in it (14.7%, against 12.8%).
- Investors pay more for each dollar of Penske Automotive Group’s earnings: a P/E of 15.4x against 7.5x for AutoNation.
| Latest fiscal year | AN · FY25 | PAG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.4B | $14.0B |
| Revenue | $27.6B | $31.8B |
| Free cash flow | −$198M | $651M |
| Net income | $649M | $935M |
| Growth | ||
| Revenue growth | 3.2% | −0.2% |
| 5-year growth | 6.3% | 9.2% |
| Share count change | −6.9% | −1.0% |
| Profitability | ||
| Gross margin | 17.9% | 16.4% |
| Operating margin | 4.5% | 4.0% |
| Net margin | 2.4% | 2.9% |
| FCF margin | −0.7% | 2.1% |
| Return on capital | 14.7% | 12.8% |
| Return on equity | 27.1% | 17.1% |
| Balance sheet | ||
| Net debt | $3.9B | $2.1B |
| Net debt / EBITDA | — | 1.5x |
| Dividends and buybacks | $792M | $503M |
| Valuation & quality | ||
| P/E | 7.5x | 15.4x |
| Piotroski F-score | 6 | 6 |
Revenue
FY16
AN $21.6B
PAG $20.1B
FY17
AN $21.5B
PAG $21.4B
FY18
AN $21.4B
PAG $22.8B
FY19
AN $21.3B
PAG $23.2B
FY20
AN $20.4B
PAG $20.4B
FY21
AN $25.8B
PAG $25.6B
FY22
AN $27.0B
PAG $27.8B
FY23
AN $26.9B
PAG $30.9B
FY24
AN $26.8B
PAG $31.9B
FY25
AN $27.6B
PAG $31.8B
AN
PAG
Operating margin
FY16
AN 4.1%
PAG 2.9%
FY17
AN 3.9%
PAG 2.9%
FY18
AN 3.6%
PAG 2.9%
FY19
AN 3.9%
PAG 2.8%
FY20
AN 2.8%
PAG 3.5%
FY21
AN 7.4%
PAG 5.3%
FY22
AN 7.5%
PAG 5.4%
FY23
AN 6.1%
PAG 4.6%
FY24
AN 4.9%
PAG 4.3%
FY25
AN 4.5%
PAG 4.0%
AN
PAG
Free cash flow
FY16
AN $272M
PAG $168M
FY17
AN $227M
PAG $376M
FY18
AN $110M
PAG $309M
FY19
AN $500M
PAG $273M
FY20
AN $1.1B
PAG $1.0B
FY21
AN $1.4B
PAG $1.0B
FY22
AN $1.3B
PAG $1.2B
FY23
AN $314M
PAG $759M
FY24
AN −$13.8M
PAG $853M
FY25
AN −$198M
PAG $651M
AN
PAG
Return on capital
FY16
AN 11.4%
PAG 11.8%
FY17
AN 11.5%
PAG 15.0%
FY18
AN 11.3%
PAG 11.1%
FY19
AN 11.5%
PAG 9.6%
FY20
AN 7.8%
PAG 10.7%
FY21
AN 28.0%
PAG 19.3%
FY22
AN 27.3%
PAG 19.6%
FY23
AN 21.2%
PAG 17.3%
FY24
AN 16.0%
PAG 15.2%
FY25
AN 14.7%
PAG 12.8%
AN
PAG
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.