AutoNation, Inc. (AN) 10-Year Financial Performance & Capital Metrics

AN • • Industrial / General

Consumer CyclicalAuto DealershipsTraditional Automotive DealershipsMulti-Brand Franchise Dealers

AboutAutoNation, Inc., through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services. The company also provides automotive finance and insurance products comprising vehicle services and other protection products, as well as arranges finance for vehicle purchases through third-party finance sources. As of December 31, 2021, it owned and operated 339 new vehicle franchises from 247 stores located primarily in metropolitan markets in the Sunbelt region. The company also owned and operated 57 AutoNation-branded collision centers, 9 AutoNation USA used vehicle stores, 4 AutoNation-branded automotive auction operations, and 3 parts distribution centers. AutoNation, Inc. was founded in 1991 and is headquartered in Fort Lauderdale, Florida.Show more

Revenue $26.77B -0.7%
EBITDA $1.55B -17.4%
Net Income $692M -32.2%
EPS (Diluted) 16.92 -25.6%
Gross Margin 17.88% -6.1%
EBITDA Margin 5.78% -16.9%
Operating Margin 4.88% -20.4%
Net Margin 2.59% -31.7%
ROE 29.65% -38.2%
ROIC 9.18% -30.8%
Debt/Equity 3.54 -3.6%
Interest Coverage 2.98 -41.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 46.6%
✓Share count reduced 10.2% through buybacks
✓Efficient asset utilization: 2.0x turnover

✗Weaknesses

✗High debt to equity ratio of 3.5x
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.43%

5Y4.64%

3Y1.17%

TTM6.06%

Profit (Net Income) CAGR

10Y5.16%

5Y8.99%

3Y-20.41%

TTM-8.2%

EPS CAGR

10Y17%

5Y27.76%

3Y-2.6%

TTM-2.08%

ROCE

10Y Avg21.07%

5Y Avg23.95%

3Y Avg25.66%

Latest19.38%

Peer Comparison

Multi-Brand Franchise Dealers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CALIChina Auto Logistics Inc.		50.59	51.10	4.64%	-0.26%	-5.43%		2.55
ANAutoNation, Inc.	7.77B	214.35	12.67	-0.68%	2.38%	26.4%		3.54
PAGPenske Automotive Group, Inc.	10.83B	164.39	11.96	3.14%	3.08%	16.48%	7.49%	1.58
ABGAsbury Automotive Group, Inc.	4.83B	248.50	11.56	16.12%	2.36%	10.86%	7.51%	1.51
LADLithia Motors, Inc.	8.06B	332.38	11.21	16.58%	2.39%	13.23%	0.91%	2.08
GPIGroup 1 Automotive, Inc.	4.79B	397.10	10.81	11.53%	1.67%	12.33%	7.13%	1.76
SAHSonic Automotive, Inc.	1.43B	64.36	10.41	-1.03%	0.86%	12.19%		3.89
CTNTCheetah Net Supply Chain Service Inc.	3.16M	1.16	-0.44	-98.81%	-11.38%	-46.68%		0.20

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	20.86B	21.61B	21.53B	21.41B	21.34B	20.39B	25.84B	26.98B	26.95B	26.77B
Revenue Growth %	0.09%	0.04%	-0%	-0.01%	-0%	-0.04%	0.27%	0.04%	-0%	-0.01%
Cost of Goods Sold+	17.6B	18.3B	18.18B	18.02B	17.81B	16.82B	20.89B	21.72B	21.82B	21.98B
COGS % of Revenue	0.84%	0.85%	0.84%	0.84%	0.83%	0.83%	0.81%	0.8%	0.81%	0.82%
Gross Profit+	3.26B	3.31B	3.36B	3.4B	3.52B	3.57B	4.95B	5.27B	5.13B	4.79B
Gross Margin %	0.16%	0.15%	0.16%	0.16%	0.17%	0.17%	0.19%	0.2%	0.19%	0.18%
Gross Profit Growth %	0.09%	0.02%	0.01%	0.01%	0.04%	0.01%	0.39%	0.06%	-0.03%	-0.07%
Operating Expenses+	2.37B	2.42B	2.52B	2.61B	2.69B	3B	3.05B	3.24B	3.48B	3.48B
OpEx % of Revenue	0.11%	0.11%	0.12%	0.12%	0.13%	0.15%	0.12%	0.12%	0.13%	0.13%
Selling, General & Admin	2.26B	2.35B	2.44B	2.51B	2.56B	2.42B	2.88B	3.03B	3.25B	3.26B
SG&A % of Revenue	0.11%	0.11%	0.11%	0.12%	0.12%	0.12%	0.11%	0.11%	0.12%	0.12%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	109.5M	74.3M	79.4M	101.5M	131.2M	581.2M	173.6M	214.7M	226.4M	216M
Operating Income+	873.1M	889.5M	843.4M	777.9M	823.6M	563.2M	1.9B	2.02B	1.65B	1.31B
Operating Margin %	0.04%	0.04%	0.04%	0.04%	0.04%	0.03%	0.07%	0.08%	0.06%	0.05%
Operating Income Growth %	0.06%	0.02%	-0.05%	-0.08%	0.06%	-0.32%	2.38%	0.06%	-0.18%	-0.21%
EBITDA+	1B	1.03B	1B	944.1M	1B	762.1M	2.1B	2.22B	1.87B	1.55B
EBITDA Margin %	0.05%	0.05%	0.05%	0.04%	0.05%	0.04%	0.08%	0.08%	0.07%	0.06%
EBITDA Growth %	0.08%	0.03%	-0.03%	-0.06%	0.06%	-0.24%	1.75%	0.06%	-0.16%	-0.17%
D&A (Non-Cash Add-back)	127.4M	143.4M	158.6M	166.2M	180.5M	198.9M	193.3M	200.3M	220.5M	240.7M
EBIT	871.9M	894.3M	853.7M	779.2M	857.7M	707.6M	1.93B	2.01B	1.7B	1.36B
Net Interest Income+	-149.1M	-190.9M	-216.2M	-248.7M	-245.1M	-157.5M	-118.7M	-176.3M	-326.1M	-350.4M
Interest Income	100K	1.1M	1M	1.1M	0	0	0	0	0	88M
Interest Expense	149.2M	192M	217.2M	249.8M	245.1M	157.5M	118.7M	176.3M	326.1M	438.4M
Other Income/Expense	-150.4M	-187.2M	-206.9M	-248.5M	-211M	-13.1M	-94.4M	-191M	-301.7M	-388.8M
Pretax Income+	722.7M	702.3M	636.5M	529.4M	612.6M	550.1M	1.81B	1.83B	1.35B	916.7M
Pretax Margin %	0.03%	0.03%	0.03%	0.02%	0.03%	0.03%	0.07%	0.07%	0.05%	0.03%
Income Tax+	279M	270.6M	201.5M	133.5M	161.8M	168.3M	435.1M	455.8M	330M	224.5M
Effective Tax Rate %	0.61%	0.61%	0.68%	0.75%	0.73%	0.69%	0.76%	0.75%	0.76%	0.76%
Net Income+	442.6M	430.5M	434.6M	396M	450M	381.6M	1.37B	1.38B	1.02B	692.2M
Net Margin %	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.05%	0.05%	0.04%	0.03%
Net Income Growth %	0.06%	-0.03%	0.01%	-0.09%	0.14%	-0.15%	2.6%	0%	-0.26%	-0.32%
Net Income (Continuing)	443.7M	431.7M	435M	395.9M	450.8M	381.8M	1.37B	1.38B	1.02B	692.2M
Discontinued Operations	0	0	0	0	0	-200K	0	0	900K	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	3.89	4.15	4.43	4.34	4.97	4.30	18.31	24.29	22.74	16.92
EPS Growth %	0.11%	0.07%	0.07%	-0.02%	0.15%	-0.13%	3.26%	0.33%	-0.06%	-0.26%
EPS (Basic)	3.99	4.18	4.74	4.34	4.99	4.32	18.50	24.47	22.89	17.09
Diluted Shares Outstanding	113.9M	103.8M	98.2M	91.3M	90.5M	88.7M	75M	56.7M	44.9M	40.3M
Basic Shares Outstanding	113.77M	103.77M	98.19M	90.9M	90.1M	88.3M	74.2M	56.3M	44.6M	39.9M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	4.71B	4.71B	4.8B	4.88B	4.41B	4.15B	2.81B	3.14B	4.31B	4.7B
Cash & Short-Term Investments	74.1M	64.8M	69.2M	48.6M	42.5M	569.6M	60.4M	72.6M	60.8M	101.5M
Cash Only	74.1M	64.8M	69.2M	48.6M	42.5M	569.6M	60.4M	72.6M	60.8M	101.5M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	908.2M	1.03B	1.11B	1B	943.4M	870.9M	730M	858.8M	1.06B	1.09B
Days Sales Outstanding	15.89	17.45	18.83	17.12	16.14	15.59	10.31	11.62	14.4	14.82
Inventory	3.61B	3.52B	3.37B	3.65B	3.31B	2.6B	1.85B	2.05B	3.03B	3.36B
Days Inventory Outstanding	74.91	70.23	67.59	73.96	67.74	56.38	32.29	34.42	50.75	55.8
Other Current Assets	117.1M	97M	251.7M	180.5M	119.4M	139.4M	173.4M	158.3M	172.3M	149.8M
Total Non-Current Assets+	4.85B	5.35B	5.47B	5.78B	6.28B	5.73B	6.13B	6.92B	7.67B	8.69B
Property, Plant & Equipment	2.67B	2.84B	2.96B	3.16B	3.51B	3.45B	3.7B	3.93B	4.18B	4.18B
Fixed Asset Turnover	7.82x	7.60x	7.27x	6.79x	6.08x	5.91x	6.98x	6.87x	6.44x	6.40x
Goodwill	1.39B	1.51B	1.51B	1.51B	1.5B	1.19B	1.24B	1.32B	1.47B	1.45B
Intangible Assets	439.9M	598.2M	586.8M	595.4M	581.6M	521.5M	743.5M	837M	927.8M	905.9M
Long-Term Investments	0	0	0	17.4M	7M	10.2M	14.2M	318.9M	407.5M	1.06B
Other Non-Current Assets	345.1M	392.5M	409.5M	499.8M	534M	570.2M	435.4M	185.6M	688.3M	700.1M
Total Assets+	9.56B	10.06B	10.27B	10.67B	10.7B	9.89B	8.94B	10.06B	11.98B	13.39B
Asset Turnover	2.18x	2.15x	2.10x	2.01x	1.99x	2.06x	2.89x	2.68x	2.25x	2.00x
Asset Growth %	0.14%	0.05%	0.02%	0.04%	0%	-0.08%	-0.1%	0.12%	0.19%	0.12%
Total Current Liabilities+	5.17B	5.83B	5.64B	5.66B	5.1B	4.17B	3.06B	3.41B	5.58B	6.31B
Accounts Payable	299.9M	303.7M	309.8M	306.2M	290.3M	335.2M	395.9M	327.6M	344.7M	376.6M
Days Payables Outstanding	6.22	6.06	6.22	6.2	5.95	7.27	6.92	5.51	5.77	6.25
Short-Term Debt	4.34B	4.96B	4.55B	4.64B	4.14B	3.11B	1.81B	2.18B	4.29B	4.93B
Deferred Revenue (Current)	0	0	0	0	1000K	1000K	0	0	0	1000K
Other Current Liabilities	530.9M	566.8M	774.5M	715.6M	634.9M	399.3M	536.4M	618M	617.1M	888.1M
Current Ratio	0.91x	0.81x	0.85x	0.86x	0.86x	1.00x	0.92x	0.92x	0.77x	0.74x
Quick Ratio	0.21x	0.20x	0.25x	0.22x	0.22x	0.37x	0.31x	0.32x	0.23x	0.21x
Cash Conversion Cycle	84.58	81.61	80.2	84.88	77.93	64.69	35.68	40.53	59.39	64.36
Total Non-Current Liabilities+	2.03B	1.92B	2.27B	2.29B	2.43B	2.49B	3.51B	4.61B	4.19B	4.62B
Long-Term Debt	1.75B	1.61B	1.96B	1.93B	1.49B	1.69B	2.53B	3.54B	3.38B	3.13B
Capital Lease Obligations	0	0	0	0	392.3M	393.6M	578.7M	660.1M	363.2M	638.2M
Deferred Tax Liabilities	78.6M	91.5M	71.9M	89.8M	287M	95.9M	78.2M	76.5M	85M	470M
Other Non-Current Liabilities	207.6M	217.9M	235.4M	275M	204.7M	254.6M	261.8M	409.5M	289.8M	308M
Total Liabilities	7.21B	7.75B	7.9B	7.95B	7.53B	6.65B	6.57B	8.01B	9.77B	10.93B
Total Debt+	6.08B	6.57B	6.51B	6.6B	6.03B	5.25B	4.95B	6.42B	8.12B	8.7B
Net Debt	6.01B	6.5B	6.44B	6.55B	5.98B	4.68B	4.89B	6.35B	8.06B	8.6B
Debt / Equity	2.59x	2.84x	2.75x	2.43x	1.91x	1.62x	2.08x	3.13x	3.67x	3.54x
Debt / EBITDA	6.08x	6.36x	6.50x	6.99x	6.00x	6.89x	2.36x	2.89x	4.34x	5.63x
Net Debt / EBITDA	6.01x	6.30x	6.43x	6.94x	5.96x	6.14x	2.33x	2.85x	4.31x	5.56x
Interest Coverage	5.85x	4.63x	3.88x	3.11x	3.36x	3.58x	16.03x	11.48x	5.07x	2.98x
Total Equity+	2.35B	2.31B	2.37B	2.72B	3.16B	3.24B	2.38B	2.05B	2.21B	2.46B
Equity Growth %	0.13%	-0.02%	0.03%	0.15%	0.16%	0.02%	-0.27%	-0.14%	0.08%	0.11%
Book Value per Share	20.63	22.26	24.13	29.75	34.94	36.48	31.69	36.12	49.25	60.98
Total Shareholders' Equity	2.35B	2.31B	2.37B	2.72B	3.16B	3.24B	2.38B	2.05B	2.21B	2.46B
Common Stock	1.2M	1.2M	1M	1M	1M	1M	800K	600K	600K	600K
Retained Earnings	2.7B	3.13B	2.83B	3.24B	3.69B	4.07B	4.64B	3.66B	4.64B	5.33B
Treasury Stock	-359.9M	-842.4M	-467.9M	-544.1M	-563.1M	-887.8M	-2.27B	-1.62B	-2.45B	-2.9B
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	507.2M	516M	540.1M	511M	769.2M	1.21B	1.63B	1.67B	724M	314.7M
Operating CF Margin %	0.02%	0.02%	0.03%	0.02%	0.04%	0.06%	0.06%	0.06%	0.03%	0.01%
Operating CF Growth %	0.05%	0.02%	0.05%	-0.05%	0.51%	0.57%	0.35%	0.02%	-0.57%	-0.57%
Net Income	442.6M	430.5M	434.6M	396M	450M	381.6M	1.37B	1.38B	1.02B	692.2M
Depreciation & Amortization	127.4M	143.4M	158.6M	166.2M	180.5M	198.9M	193.3M	200.3M	220.5M	240.7M
Stock-Based Compensation	24M	25.1M	20.6M	25.5M	31.1M	30.2M	35M	31.5M	39.7M	36.5M
Deferred Taxes	10M	3.7M	-19M	14.5M	45.8M	-38.9M	-17.4M	1.3M	20.1M	-1.4M
Other Non-Cash Items	-14.1M	-54.5M	-70.1M	-37.9M	-59.6M	245M	-34.2M	52.8M	21.9M	18.2M
Working Capital Changes	-82.7M	-32.2M	15.4M	-53.3M	121.4M	390.8M	78M	4.8M	-599.3M	-671.5M
Change in Receivables	0	0	0	0	56.2M	70M	114.9M	-129.2M	-408.1M	-903M
Change in Inventory	0	259.1M	39.3M	0	296M	703.6M	800.4M	-175.5M	-950.1M	-398.5M
Change in Payables	525.7M	-202.2M	-63.9M	0	-258.2M	-531.6M	-1B	392.2M	821.5M	521.1M
Cash from Investing+	-509.4M	-493M	-227M	-295.3M	-115.8M	-73.7M	-460.3M	-479.3M	-569.9M	12.3M
Capital Expenditures	-257.8M	-249.5M	-313.4M	-400.8M	-269.3M	-156M	-215.7M	-329M	-410.3M	-328.5M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.02%	0.01%	0.01%	0.01%	0.01%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	26M	16.5M	58.6M	49.5M	42.6M	18.3M	35.5M	-3.7M	79.3M	88.8M
Cash from Financing+	900K	-35.6M	-307.4M	-237.4M	-660.3M	-606.7M	-1.68B	-1.15B	-172.5M	-300.6M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	41.5M	7M	25.1M	12.6M	9.7M	33.6M	28.5M	-35M	-32.1M	-20.4M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	249.4M	266.5M	226.7M	110.2M	499.9M	1.05B	1.41B	1.34B	313.7M	-13.8M
FCF Margin %	0.01%	0.01%	0.01%	0.01%	0.02%	0.05%	0.05%	0.05%	0.01%	-0%
FCF Growth %	-0.09%	0.07%	-0.15%	-0.51%	3.54%	1.1%	0.34%	-0.05%	-0.77%	-1.04%
FCF per Share	2.19	2.57	2.31	1.21	5.52	11.86	18.83	23.62	6.99	-0.34
FCF Conversion (FCF/Net Income)	1.15x	1.20x	1.24x	1.29x	1.71x	3.16x	1.19x	1.21x	0.71x	0.45x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	20.02%	18.48%	18.57%	15.57%	15.31%	11.93%	48.92%	62.26%	47.95%	29.65%
Return on Invested Capital (ROIC)	8.41%	7.77%	7.18%	6.46%	6.71%	4.95%	18.79%	19.39%	13.27%	9.18%
Gross Margin	15.63%	15.33%	15.6%	15.87%	16.51%	17.49%	19.16%	19.51%	19.04%	17.88%
Net Margin	2.12%	1.99%	2.02%	1.85%	2.11%	1.87%	5.31%	5.1%	3.79%	2.59%
Debt / Equity	2.59x	2.84x	2.75x	2.43x	1.91x	1.62x	2.08x	3.13x	3.67x	3.54x
Interest Coverage	5.85x	4.63x	3.88x	3.11x	3.36x	3.58x	16.03x	11.48x	5.07x	2.98x
FCF Conversion	1.15x	1.20x	1.24x	1.29x	1.71x	3.16x	1.19x	1.21x	0.71x	0.45x
Revenue Growth	9.17%	3.58%	-0.34%	-0.57%	-0.36%	-4.43%	26.75%	4.42%	-0.13%	-0.68%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
New Vehicle	11.99B	12.26B	12.18B	11.24B	10.66B	9.83B	10.88B	10.39B	12.77B	13.05B
New Vehicle Growth	-	2.17%	-0.61%	-7.76%	-5.10%	-7.77%	10.63%	-4.52%	22.91%	2.20%
Used Vehicle	4.77B	5B	4.88B	4.78B	5.1B	5.14B	7.95B	9.11B	8.2B	7.72B
Used Vehicle Growth	-	4.75%	-2.34%	-1.98%	6.63%	0.86%	54.61%	14.56%	-9.99%	-5.84%
Parts and Service	3.08B	3.32B	3.4B	-	1.95B	1.8B	2.03B	2.2B	4.53B	4.61B
Parts and Service Growth	-	7.74%	2.32%	-	-	-7.84%	13.21%	8.18%	106.05%	1.78%
Finance and Insurance, Net	868.7M	894.6M	939.2M	-	-	-	-	-	1.42B	1.36B
Finance and Insurance, Net Growth	-	2.98%	4.99%	-	-	-	-	-	-	-4.14%
Product and Service, Other	-	-	-	106.1M	102.1M	50.2M	26.7M	22.9M	30.5M	22.6M
Product and Service, Other Growth	-	-	-	-	-3.77%	-50.83%	-46.81%	-14.23%	33.19%	-25.90%
Other Goods and Services	146.8M	141.9M	137.9M	-	-	-	-	-	-	-
Other Goods and Services Growth	-	-3.34%	-2.82%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024

Frequently Asked Questions

Valuation & Price

AutoNation, Inc. (AN) has a price-to-earnings (P/E) ratio of 12.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

AutoNation, Inc. (AN) reported $27.92B in revenue for fiscal year 2024. This represents a 102% increase from $13.83B in 2011.

AutoNation, Inc. (AN) saw revenue decline by 0.7% over the past year.

Yes, AutoNation, Inc. (AN) is profitable, generating $663.1M in net income for fiscal year 2024 (2.6% net margin).

Dividend & Returns

AutoNation, Inc. (AN) has a return on equity (ROE) of 29.7%. This is excellent, indicating efficient use of shareholder capital.

AutoNation, Inc. (AN) had negative free cash flow of $178.2M in fiscal year 2024, likely due to heavy capital investments.

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