Financials Penske Automotive Group, Inc.

Equities

PAG

US70959W1036

Auto Vehicles, Parts & Service Retailers

Market Closed - Nyse Other stock markets 04:00:01 2024-05-10 pm EDT			5-day change	1st Jan Change
155.4 ^USD	-0.44%		+1.27%	-3.19%

Apr. 30	Tranche Update on Penske Automotive Group, Inc.'s Equity Buyback Plan announced on February 19, 2010.	CI
Apr. 30	Transcript : Penske Automotive Group, Inc., Q1 2024 Earnings Call, Apr 30, 2024

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,071	4,771	8,395	8,195	10,780	10,392	-	-
Enterprise Value (EV) ¹	6,403	6,411	9,768	9,711	12,313	12,054	11,738	12,205
P/E ratio	9.51 x	8.81 x	7.2 x	6.2 x	10.4 x	11.6 x	11.3 x	10.4 x
Yield	3.15%	1.43%	1.66%	1.8%	1.89%	2.61%	2.26%	2.15%
Capitalization / Revenue	0.18 x	0.23 x	0.33 x	0.29 x	0.37 x	0.34 x	0.33 x	0.31 x
EV / Revenue	0.28 x	0.31 x	0.38 x	0.35 x	0.42 x	0.39 x	0.37 x	0.36 x
EV / EBITDA	7.76 x	6.78 x	5.35 x	4.72 x	7.27 x	8.05 x	7.47 x	6.76 x
EV / FCF	23.5 x	6.31 x	9.36 x	8.25 x	17.1 x	17.1 x	22.5 x	23.7 x
FCF Yield	4.26%	15.8%	10.7%	12.1%	5.83%	5.84%	4.44%	4.21%
Price to Book	1.46 x	1.44 x	2.09 x	1.93 x	2.28 x	2.06 x	1.82 x	1.55 x
Nbr of stocks (in thousands)	81,065	80,336	78,295	71,303	67,161	66,879	-	-
Reference price ²	50.22	59.39	107.2	114.9	160.5	155.4	155.4	155.4
Announcement Date	2/5/20	2/10/21	2/9/22	2/8/23	2/7/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	23,179	20,444	25,555	27,815	29,527	30,584	31,513	34,038
EBITDA ¹	825.3	945.8	1,826	2,057	1,694	1,497	1,571	1,806
EBIT ¹	652.7	699.3	1,373	1,488	1,392	1,253	1,288	1,698
Operating Margin	2.82%	3.42%	5.37%	5.35%	4.71%	4.1%	4.09%	4.99%
Earnings before Tax (EBT) ¹	591.5	707.6	1,608	1,859	1,420	1,169	945.9	-
Net income ¹	435.8	543.6	1,188	1,380	1,053	884.2	890.2	919
Net margin	1.88%	2.66%	4.65%	4.96%	3.57%	2.89%	2.82%	2.7%
EPS ²	5.280	6.740	14.89	18.55	15.50	13.34	13.73	14.93
Free Cash Flow ¹	273	1,016	1,043	1,176	718.3	704	521	514.2
FCF margin	1.18%	4.97%	4.08%	4.23%	2.43%	2.3%	1.65%	1.51%
FCF Conversion (EBITDA)	33.08%	107.38%	57.12%	57.2%	42.41%	47.02%	33.16%	28.47%
FCF Conversion (Net income)	62.64%	186.83%	87.82%	85.25%	68.2%	79.62%	58.53%	55.95%
Dividend per Share ²	1.580	0.8500	1.780	2.070	3.040	4.060	3.505	3.340
Announcement Date	2/5/20	2/10/21	2/9/22	2/8/23	2/7/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	6,296	6,975	6,907	6,921	7,012	7,339	7,468	7,448	7,272	7,448	7,581	7,562	7,413	7,839	7,894
EBITDA ¹	478.3	546	548.3	516.6	446	461.6	458.6	416.4	357.2	353.9	362.2	373.1	339.5	364	379
EBIT ¹	356.3	402	387.6	362.7	335.5	373.5	380.8	331.5	306.4	327.6	322.8	311.2	292.2	326	332
Operating Margin	5.66%	5.76%	5.61%	5.24%	4.78%	5.09%	5.1%	4.45%	4.21%	4.4%	4.26%	4.12%	3.94%	4.16%	4.21%
Earnings before Tax (EBT) ¹	420.3	497.6	499.6	467.2	394.8	406.9	400.3	356.5	255.8	294.8	300.3	298.6	275.3	301	316
Net income ¹	311.3	367.9	374	340.1	298	298.3	300.8	263.4	190.7	215.2	223.6	222.7	207.7	223	233
Net margin	4.94%	5.27%	5.41%	4.91%	4.25%	4.06%	4.03%	3.54%	2.62%	2.89%	2.95%	2.95%	2.8%	2.84%	2.95%
EPS ²	3.990	4.760	4.930	4.610	4.210	4.310	4.410	3.920	2.840	3.210	3.348	3.352	3.145	3.390	3.570
Dividend per Share ²	0.4600	-	0.5300	0.5300	0.5700	0.6100	0.6600	0.7900	0.8700	-	0.9600	1.060	1.170	-	-
Announcement Date	2/9/22	4/27/22	7/27/22	10/26/22	2/8/23	4/26/23	7/26/23	10/25/23	2/7/24	4/30/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	2,332	1,640	1,373	1,516	1,533	1,662	1,346	1,812
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.826 x	1.734 x	0.752 x	0.7368 x	0.9049 x	1.11 x	0.8568 x	1.004 x
Free Cash Flow ¹	273	1,016	1,043	1,177	718	704	521	514
ROE (net income / shareholders' equity)	16%	17.7%	32.9%	33.6%	23.6%	18.2%	16.6%	15.3%
ROA (Net income/ Total Assets)	3.51%	4%	9.13%	10%	7.07%	5.43%	5.11%	5%
Assets ¹	12,424	13,595	13,014	13,790	14,893	16,298	17,422	18,381
Book Value Per Share ²	34.50	41.30	51.40	59.50	70.40	75.40	85.50	100.0
Cash Flow per Share ²	6.280	14.90	16.20	19.60	16.10	18.00	15.80	-
Capex ¹	245	186	249	283	375	348	363	418
Capex / Sales	1.06%	0.91%	0.97%	1.02%	1.27%	1.14%	1.15%	1.23%
Announcement Date	2/5/20	2/10/21	2/9/22	2/8/23	2/7/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Penske Automotive Group, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

155.4 USD

Average target price

154.4 USD

Spread / Average Target

-0.63%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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