Penske Automotive Group Inc
PAG—
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Penske Automotive Group Inc AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 2.4B is 42% of equity (5.7B) - acquisition-heavy model creates impairment risk if dealership values decline[Goodwill]
- Debt/Equity of 1.39 with 7.9B total debt vs 80M cash - interest expense (265M TTM) consumes 20% of operating income[Debt to Equity]
- P/E of 12.1x vs industry median 14.2x while generating 17.3% ROE TTM - discount despite above-median returns[PE Ratio]
Watch Triggers
- Interest Expense TTM: Exceeds 300M or >25% of operating income — Signals debt burden eroding profitability - currently 265M (20% of op income)
- Inventory: Rises >15% without proportional revenue growth — Inventory buildup signals demand weakness - 4.7B currently at 56 days
- Goodwill: Any impairment charge announced — 2.4B goodwill (42% of equity) - impairment would materially hit book value
Bull Case
Scale advantage: 30.7B revenue (4x industry median) drives operating leverage with 1.8x asset turnover generating 17.3% ROE TTM despite thin 3.1% net margins
Total Revenue TTMROE TTMAsset Turnover TTM
Valuation gap: P/S 0.35x vs median 0.28x but P/E 12.1x vs 14.2x - market undervalues earnings power relative to revenue scale
PE RatioPS Ratio
Bear Case
Leverage risk: 7.9B debt (1.39x equity) with 4.3B current - interest coverage (EBIT/Interest) only 5.8x leaves thin margin if auto sales slow
Total DebtInterest Expense TTMCurrent Debt
Negative working capital (-190M) and 4.7B inventory exposure - floor plan financing model amplifies cyclical risk in downturn
Working CapitalInventory
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
45%
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Forward Thesis
FCF generation will fund deleveraging, narrowing valuation discount to peers over 1-3 years
1-3ymed
- 757M FCF TTM covers 277M debt paydown + 5/share dividend
- Asset turnover 1.8x exceeds industry median 1.6x
- Operating margin 4.2% at industry median - stable base
Net debt paydown of 278M in TTM periodFCF margin 2.5% on 30.7B revenueP/E 15% below industry median
Valuation Context
Caveats
Public Strategies Rankings
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PAG Fundamentals
Retail Trade → Motor Vehicle and Parts Dealers
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$9.85B | — | ||
$18.5B | — | ||
11 | — | ||
$31.81B | -0.2% | — | |
$14.13 | -6.5% | — | |
4.03% | -0.3% | — | |
2.94% | -0.1% | — | |
$650.5M | -23.7% | — | |
17.1% | -1.4% | — | |
Beta 5Y (Monthly) | unknown | — |
PAG Dividend History
79 dividends
2026
$1.400002/25/26$1.4000
2025
$5.180011/14/25$1.3800
08/15/25$1.3200
05/27/25$1.2600
02/24/25$1.2200
2024
$4.090011/15/24$1.1900
08/15/24$1.0700
05/17/24$0.9600
02/14/24$0.8700
2023
$2.780011/09/23$0.7900
08/09/23$0.7200
05/19/23$0.6600
02/09/23$0.6100
2022
$2.070011/09/22$0.5700
08/09/22$0.5300
05/20/22$0.5000
02/09/22$0.4700
2021
$1.780011/09/21$0.4600
08/09/21$0.4500
05/21/21$0.4400
02/09/21$0.4300
2020
$0.840011/09/20$0.4200
02/21/20$0.4200
2019
$1.580011/07/19$0.4100
08/08/19$0.4000
05/17/19$0.3900
02/08/19$0.3800
2018
$1.420011/08/18$0.3700
08/09/18$0.3600
05/18/18$0.3500
02/09/18$0.3400
2017
$1.260011/09/17$0.3300
08/08/17$0.3200
05/18/17$0.3100
02/15/17$0.3000
2016
$1.100011/08/16$0.2900
08/08/16$0.2800
05/12/16$0.2700
02/08/16$0.2600
2015
$0.940011/06/15$0.2500
08/06/15$0.2400
05/13/15$0.2300
02/06/15$0.2200
2014
$0.780011/06/14$0.2100
08/07/14$0.2000
05/08/14$0.1900
02/06/14$0.1800
2013
$0.620011/06/13$0.1700
08/08/13$0.1600
05/16/13$0.1500
02/07/13$0.1400
2012
$0.460011/07/12$0.1300
08/08/12$0.1200
05/08/12$0.1100
02/08/12$0.1000
2011
$0.240011/09/11$0.0900
08/08/11$0.0800
05/18/11$0.0700
2008
$0.360011/06/08$0.0900
08/07/08$0.0900
05/08/08$0.0900
02/07/08$0.0900
2007
$0.300011/07/07$0.0900
08/08/07$0.0700
05/09/07$0.0700
02/08/07$0.0700
2006
$0.270011/08/06$0.0700
08/08/06$0.0700
05/09/06$0.0700
02/08/06$0.0600
2005
$0.225011/08/05$0.0600
08/08/05$0.0550
05/06/05$0.0550
02/08/05$0.0550
2004
$0.205011/08/04$0.0550
08/05/04$0.0500
05/06/04$0.0500
02/05/04$0.0500
2003
$0.050011/06/03$0.0500
PAG Stock Splits
1 stock split
06/02/060.5:1 split
PAG SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/27/26 | 12/31/25 | 10-K | |
10/30/25 | 09/30/25 | 10-Q | |
07/31/25 | 06/30/25 | 10-Q | |
05/01/25 | 03/31/25 | 10-Q | |
02/21/25 | 12/31/24 | Unknown | |
10/30/24 | 09/30/24 | 10-Q | |
07/31/24 | 06/30/24 | 10-Q | |
04/30/24 | 03/31/24 | 10-Q | |
02/16/24 | 12/31/23 | 10-K | |
10/30/23 | 09/30/23 | 10-Q | |
07/27/23 | 06/30/23 | 10-Q | |
04/27/23 | 03/31/23 | 10-Q | |
02/21/23 | 12/31/22 | 10-K | |
10/27/22 | 09/30/22 | 10-Q | |
07/28/22 | 06/30/22 | 10-Q | |
04/28/22 | 03/31/22 | 10-Q | |
02/18/22 | 12/31/21 | 10-K | |
10/28/21 | 09/30/21 | 10-Q | |
07/29/21 | 06/30/21 | 10-Q | |
04/29/21 | 03/31/21 | 10-Q | |
02/19/21 | 12/31/20 | 10-K | |
10/27/20 | 09/30/20 | 10-Q | |
07/31/20 | 06/30/20 | 10-Q | |
05/06/20 | 03/31/20 | 10-Q | |
02/21/20 | 12/31/19 | 10-K | |
10/30/19 | 09/30/19 | 10-Q | |
07/31/19 | 06/30/19 | 10-Q | |
04/26/19 | 03/31/19 | 10-Q | |
02/22/19 | 12/31/18 | 10-K | |
10/26/18 | 09/30/18 | 10-Q | |
07/27/18 | 06/30/18 | 10-Q | |
04/27/18 | 03/31/18 | 10-Q | |
02/22/18 | 12/31/17 | 10-K | |
10/26/17 | 09/30/17 | 10-Q | |
07/28/17 | 06/30/17 | 10-Q | |
04/27/17 | 03/31/17 | 10-Q | |
02/24/17 | 12/31/16 | 10-K | |
10/27/16 | 09/30/16 | 10-Q | |
07/29/16 | 06/30/16 | 10-Q | |
04/27/16 | 03/31/16 | 10-Q | |
02/25/16 | 12/31/15 | 10-K | |
10/30/15 | 09/30/15 | 10-Q | |
07/30/15 | 06/30/15 | 10-Q | |
05/01/15 | 03/31/15 | 10-Q | |
02/26/15 | 12/31/14 | 10-K | |
10/29/14 | 09/30/14 | 10-Q | |
07/31/14 | 06/30/14 | 10-Q | |
05/05/14 | 03/31/14 | 10-Q | |
03/03/14 | 12/31/13 | 10-K | |
10/30/13 | 09/30/13 | 10-Q | |
08/01/13 | 06/30/13 | 10-Q | |
04/30/13 | 03/31/13 | 10-Q | |
02/28/13 | 12/31/12 | 10-K | |
11/02/12 | 09/30/12 | 10-Q | |
08/03/12 | 06/30/12 | 10-Q | |
05/04/12 | 03/31/12 | 10-Q | |
02/24/12 | 12/31/11 | 10-K | |
11/07/11 | 09/30/11 | 10-Q | |
08/02/11 | 06/30/11 | 10-Q | |
05/03/11 | 03/31/11 | 10-Q | |
02/28/11 | 12/31/10 | 10-K | |
11/04/10 | 09/30/10 | 10-Q | |
07/30/10 | 06/30/10 | 10-Q | |
05/03/10 | 03/31/10 | 10-Q | |
02/24/10 | 12/31/09 | 10-K | |
11/04/09 | 09/30/09 | 10-Q | |
07/31/09 | 06/30/09 | 10-Q | |
05/08/09 | 03/31/09 | 10-Q | |
03/11/09 | 12/31/08 | 10-K | |
11/05/08 | 09/30/08 | 10-Q | |
08/01/08 | 06/30/08 | 10-Q | |
05/08/08 | 03/30/08 | Unknown | -- |
02/26/08 | 12/31/07 | 10-K | |
10/25/07 | 09/30/07 | 10-Q | |
08/03/07 | 06/30/07 | 10-Q | |
05/10/07 | 03/30/07 | Unknown | -- |
03/01/07 | 12/31/06 | 10-K | |
11/08/06 | 09/30/06 | 10-Q | |
08/09/06 | 06/30/06 | 10-Q | |
05/10/06 | 03/30/06 | Unknown | -- |
03/16/06 | 12/31/05 | 10-K | |
11/14/05 | 09/30/05 | NT 10-Q | |
08/08/05 | 06/30/05 | 10-Q | |
05/05/05 | 03/30/05 | Unknown | -- |
03/15/05 | 12/31/04 | 10-K | |
11/09/04 | 09/30/04 | 10-Q | |
08/09/04 | 06/30/04 | 10-Q | |
05/10/04 | 03/30/04 | Unknown | -- |
03/15/04 | 12/31/03 | 10-K | |
11/13/03 | 09/30/03 | 10-Q | |
08/13/03 | 06/30/03 | 10-Q | |
05/15/03 | 03/30/03 | Unknown | -- |
03/31/03 | 12/31/02 | 10-K | |
11/14/02 | 09/30/02 | 10-Q | |
08/14/02 | 06/30/02 | 10-Q | |
05/15/02 | 03/30/02 | Unknown | -- |
02/26/02 | 12/31/01 | 10-K405 | |
11/14/01 | 09/30/01 | 10-Q | |
08/14/01 | 06/30/01 | 10-Q | |
05/15/01 | 03/30/01 | Unknown | -- |
03/29/01 | 12/31/00 | 10-K | |
11/14/00 | 09/30/00 | 10-Q | |
08/10/00 | 06/30/00 | 10-Q | |
05/15/00 | 03/30/00 | Unknown | -- |