Penske Automotive Group, Inc. (PAG) Income Statement
PAG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsPAG revenue and net income
Where PAG's revenue goes
2025Each bar shows an amount and its share of revenue. PAG kept 2.9% of revenue as net income.
PAG profit margins
PAG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −0.2% | +4.6% | +9.2% | +5.1% |
| Gross profit | −0.0% | +2.5% | +10.4% | +6.2% |
| Operating income | −6.5% | −4.9% | +12.7% | +8.5% |
| Net income | −3.5% | −12.2% | +11.5% | +11.1% |
| EPS (diluted) | −3.6% | −10.5% | +15.1% | +13.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
PAG quarterly EPS vs estimates
Penske Automotive beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 4, 2026 (estimate $3.47).
PAG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $31.81B | $31.86B | $30.92B | $27.81B | $25.55B | $20.44B | $23.18B | $22.79B | $21.39B | $20.12B |
| Cost of revenue | $26.59B | $26.65B | $25.77B | $22.98B | $21.11B | $17.26B | $19.72B | $19.37B | $18.16B | $17.15B |
| Gross profit | $5.22B | $5.22B | $5.15B | $4.84B | $4.44B | $3.18B | $3.46B | $3.41B | $3.22B | $2.97B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $3.76B | $3.69B | $3.55B | $3.22B | $2.96B | $2.36B | $2.69B | $2.65B | $2.52B | $2.30B |
| Total operating expenses | $3.94B | $3.85B | $3.70B | $3.35B | $3.08B | $2.48B | $2.80B | $2.75B | $2.61B | $2.39B |
| Operating income | $1.28B | $1.37B | $1.45B | $1.49B | $1.36B | $704.5M | $652.7M | $664.9M | $611.4M | $574.9M |
| Interest income | $69.3M | $76.9M | $68.0M | $371.4M | $268.3M | $3.1M | $61.2M | $60.8M | $63.2M | $66.8M |
| Interest expense | $262.2M | $280.9M | $227.9M | $122.8M | $94.8M | $157.3M | $208.7M | $195.6M | $170.8M | $136.3M |
| Income before taxes | $1.26B | $1.29B | $1.48B | $1.86B | $1.61B | $707.6M | $591.5M | $604.1M | $548.2M | $508.1M |
| Income taxes | $325.8M | $316.5M | $360.9M | $473.0M | $416.3M | $162.7M | $156.7M | $134.3M | −$64.8M | $160.7M |
| Net income | $935.4M | $968.9M | $1.11B | $1.38B | $1.19B | $543.6M | $435.8M | $471.0M | $613.3M | $342.9M |
| EBITDA | $1.70B | $1.73B | $1.85B | $2.11B | $1.82B | $980.4M | $909.8M | $903.4M | $814.1M | $734.1M |
| EPS (diluted) | $13.25 | $13.75 | $16.09 | $18.51 | $15.29 | $6.56 | $5.57 | $5.35 | $4.31 | $3.95 |
| Gross margin | 16.4% | 16.4% | 16.6% | 17.4% | 17.4% | 15.6% | 14.9% | 15.0% | 15.1% | 14.7% |
| Operating margin | 4.0% | 4.3% | 4.7% | 5.3% | 5.3% | 3.4% | 2.8% | 2.9% | 2.9% | 2.9% |
| Net margin | 2.9% | 3.0% | 3.6% | 5.0% | 4.6% | 2.7% | 1.9% | 2.1% | 2.9% | 1.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.51B | $7.86B | $8.85B | $7.70B | $8.03B | $7.95B | $7.72B | $7.59B | $7.70B | $7.45B | $7.27B | $7.45B |
| Cost of revenue | $7.16B | $6.56B | $7.44B | $6.45B | $6.68B | $6.63B | $6.46B | $6.35B | $6.43B | $6.20B | $6.08B | $6.23B |
| Gross profit | $1.36B | $1.30B | $1.40B | $1.25B | $1.35B | $1.32B | $1.26B | $1.24B | $1.26B | $1.25B | $1.19B | $1.22B |
| Sales, general & admin | $974.0M | $965.6M | $1.04B | $907.5M | $943.8M | $951.4M | $886.0M | $885.2M | $887.5M | $879.8M | $844.1M | $853.5M |
| Total operating expenses | $1.02B | $1.01B | $1.08B | $950.4M | $986.9M | $992.0M | $927.0M | $925.8M | $926.1M | $917.6M | $922.4M | $888.9M |
| Operating income | $337.6M | $289.0M | $318.3M | $298.7M | $365.3M | $329.4M | $333.8M | $317.4M | $338.0M | $327.6M | $265.7M | $331.5M |
| Interest income | — | — | $19.5M | $6.5M | $11.3M | $30.7M | $18.6M | $13.0M | — | — | — | $25.0M |
| Interest expense | $71.6M | $66.5M | $68.4M | $64.9M | $65.4M | $64.5M | $71.3M | $73.7M | $66.5M | $66.1M | $62.0M | $60.0M |
| Income before taxes | $353.8M | $323.7M | $297.5M | $292.2M | $353.5M | $350.5M | $315.2M | $304.4M | $325.5M | $294.8M | $255.8M | $356.5M |
| Income taxes | $92.6M | $88.8M | $69.0M | $78.7M | $86.0M | $92.1M | $77.9M | $77.4M | $82.6M | $78.6M | $63.8M | $92.1M |
| Net income | $260.4M | $234.5M | $228.1M | $213.0M | $266.6M | $257.7M | $236.4M | $226.1M | $241.2M | $215.2M | $190.7M | $263.4M |
| EBITDA | $470.8M | $435.0M | $413.3M | $398.3M | $462.0M | $455.6M | $427.5M | $418.7M | $430.6M | $398.7M | $355.4M | $451.9M |
| EPS (diluted) | $3.62 | $3.05 | $2.85 | $3.23 | $3.78 | $3.39 | $3.54 | $3.39 | $3.61 | $3.21 | $3.45 | $3.92 |
| Gross margin | 15.9% | 16.5% | 15.9% | 16.2% | 16.8% | 16.6% | 16.3% | 16.4% | 16.4% | 16.7% | 16.3% | 16.4% |
| Operating margin | 4.0% | 3.7% | 3.6% | 3.9% | 4.5% | 4.1% | 4.3% | 4.2% | 4.4% | 4.4% | 3.7% | 4.5% |
| Net margin | 3.1% | 3.0% | 2.6% | 2.8% | 3.3% | 3.2% | 3.1% | 3.0% | 3.1% | 2.9% | 2.6% | 3.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PAG's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
PAG financial results
In fiscal year 2025 (ended December 31, 2025), Penske Automotive reported revenue of $31.8 billion, down 0.2% from the year before. It had net income of $935.4 million (down 3.5%), a net profit margin of 2.9%. Diluted earnings per share came to $13.25. Over five years revenue grew at an average rate of 9.2% a year.
See the PAG stock overview for the latest quote and news, or the PAG chart for price history and technical indicators.
PAG income statement FAQ
What is Penske Automotive's annual revenue?
Penske Automotive reported total revenue of $31.8 billion for fiscal year 2025, which ended on December 31, 2025. That was down 0.2% from $31.9 billion the previous year.
Is Penske Automotive profitable?
Yes. Penske Automotive reported net income of $935.4 million in fiscal 2025, a net profit margin of 2.9%; its operating margin was 4.0%.
What is Penske Automotive's gross margin?
Penske Automotive's gross margin was 16.4% in fiscal 2025: for every $100 of revenue, Penske Automotive kept $16 after the direct cost of its products and services.
How fast is Penske Automotive growing?
Revenue grew 9.2% a year on average over the last five fiscal years, from $20.4 billion to $31.8 billion.
What are Penske Automotive's earnings per share?
Penske Automotive earned $13.25 per diluted share in fiscal 2025, compared with $13.75 a year earlier.
When will Penske Automotive report its next earnings?
Penske Automotive is expected to report results for the quarter ending September 30, 2026 on November 4, 2026.
When does Penske Automotive's fiscal year end?
Penske Automotive's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.