Revenue growth has decelerated into a 0.9% contraction as of 2026Q1, while gross margins have steadily eroded from a 17.9% peak in 2024Q1 to 17.1%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 |
|---|
| Sales/Revenue | 17.96B | 18B | 17.19B | 14.8B | 15.43B | 9.84B | 7.13B | 7.21B | 6.87B | 6.46B | 6.53B | 6.59B | 5.87B | 5.33B | 4.64B | 4.14B | 3.9B | 3.41B | 4.4B | 5.71B | 5.69B | 5.36B | 4.83B | 4.23B | 4.21B | 4.32B |
| Revenue Growth % | 4.83% | 4.71% | 16.12% | -4.09% | 56.89% | 37.94% | -1.09% | 4.89% | 6.47% | -1.09% | -0.92% | 12.28% | 9.99% | 14.93% | 12.08% | 6.27% | 14.42% | -22.64% | -22.93% | 0.33% | 6.3% | 10.83% | 14.14% | 0.66% | -2.58% | - |
| Cost of Goods Sold | 14.93B | 15.01B | 14.24B | 12.05B | 12.33B | 7.94B | 5.91B | 6.04B | 5.77B | 5.4B | 5.47B | 5.53B | 4.9B | 4.46B | 3.88B | 3.44B | 3.25B | 2.82B | 3.68B | 4.82B | 4.82B | 4.55B | 4.1B | 3.58B | 3.54B | 3.65B |
| COGS % of Revenue | - | 83.39% | 82.84% | 81.38% | 79.91% | 80.66% | 82.85% | 83.79% | 83.95% | 83.65% | 83.78% | 83.9% | 83.52% | 83.58% | 83.55% | 83.09% | 83.31% | 82.9% | 83.63% | 84.43% | 84.71% | 84.94% | 84.92% | 84.57% | 84.08% | 84.43% |
| Gross Profit | 3.03B | 2.99B | 2.95B | 2.76B | 3.1B | 1.9B | 1.22B | 1.17B | 1.1B | 1.06B | 1.06B | 1.06B | 967.2M | 876M | 763.8M | 700.3M | 650.6M | 582.6M | 720.6M | 889.44M | 870.78M | 806.95M | 729.09M | 653.32M | 669.81M | 672.47M |
| Gross Margin % | 16.86% | 16.61% | 17.15% | 18.62% | 20.09% | 19.34% | 17.15% | 16.21% | 16.05% | 16.35% | 16.22% | 16.1% | 16.48% | 16.42% | 16.45% | 16.91% | 16.69% | 17.1% | 16.37% | 15.57% | 15.29% | 15.06% | 15.08% | 15.43% | 15.92% | 15.57% |
| Gross Profit Growth % | - | 1.38% | 7% | -11.12% | 63% | 55.48% | 4.66% | 5.97% | 4.46% | -0.26% | -0.2% | 9.68% | 10.41% | 14.69% | 9.07% | 7.64% | 11.67% | -19.15% | -18.98% | 2.14% | 7.91% | 10.68% | 11.6% | -2.46% | -0.4% | - |
| Operating Expenses | 2.09B | 1.99B | 2.11B | 1.8B | 1.83B | 1.11B | 852.6M | 843.9M | 792.1M | 768.2M | 760.9M | 759.2M | 699M | 649.9M | 577.9M | 569.1M | 523.7M | 486.9M | 1.13B | 708.08M | 682.43M | 647.14M | 594.53M | 524.54M | 537.17M | 549.03M |
| OpEx % of Revenue | - | 11.04% | 12.29% | 12.18% | 11.84% | 11.29% | 11.95% | 11.7% | 11.52% | 11.9% | 11.66% | 11.52% | 11.91% | 12.18% | 12.45% | 13.74% | 13.44% | 14.29% | 25.75% | 12.39% | 11.98% | 12.08% | 12.3% | 12.39% | 12.77% | 12.71% |
| Selling, General & Admin | 2.04B | 1.99B | 1.89B | 1.62B | 1.76B | 1.07B | 781.9M | 799.8M | 755.8M | 729.7M | 732.5M | 729.9M | 671.6M | 617.8M | 554.9M | 531.6M | 502.6M | 465.5M | 581.5M | 685.63M | 663.86M | 627.15M | 576.41M | 506.95M | 518.7M | 518.26M |
| SG&A % of Revenue | - | 11.04% | 10.99% | 10.93% | 11.43% | 10.92% | 10.96% | 11.09% | 10.99% | 11.3% | 11.22% | 11.08% | 11.45% | 11.58% | 11.95% | 12.84% | 12.9% | 13.67% | 13.21% | 12% | 11.66% | 11.71% | 11.93% | 11.97% | 12.33% | 12% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 2M | 0 | 224.5M | 184.9M | 64.6M | 36.5M | 70.7M | 44.1M | 36.3M | 38.5M | 28.4M | 29.3M | 27.4M | 32.1M | 23M | 37.5M | 21.1M | 21.4M | 552.3M | 22.45M | 18.58M | 19.99M | 18.13M | 17.59M | 18.47M | 30.77M |
| Operating Income | 935.2M | 1B | 835.6M | 953.5M | 1.27B | 791.8M | 370.8M | 325M | 310.9M | 287.7M | 297.8M | 301.6M | 268.2M | 226.1M | 185.9M | 131.2M | 126.9M | 95.7M | -413.2M | 181.36M | 188.35M | 159.81M | 134.55M | 128.78M | 132.63M | 123.44M |
| Operating Margin % | 5.21% | 5.57% | 4.86% | 6.44% | 8.25% | 8.05% | 5.2% | 4.51% | 4.52% | 4.46% | 4.56% | 4.58% | 4.57% | 4.24% | 4% | 3.17% | 3.26% | 2.81% | -9.38% | 3.17% | 3.31% | 2.98% | 2.78% | 3.04% | 3.15% | 2.86% |
| Operating Income Growth % | - | 19.88% | -12.37% | -25.07% | 60.72% | 113.54% | 14.09% | 4.54% | 8.06% | -3.39% | -1.26% | 12.45% | 18.62% | 21.62% | 41.69% | 3.39% | 32.6% | 123.16% | -327.83% | -3.71% | 17.85% | 18.77% | 4.49% | -2.91% | 7.45% | - |
| EBITDA | 1.02B | 1.08B | 910.6M | 1.02B | 1.34B | 833.7M | 409.3M | 361.2M | 344.6M | 319.8M | 328.5M | 331.1M | 294.6M | 250.4M | 208.5M | 153.7M | 155.9M | 117.9M | -382.4M | 209.84M | 214.68M | 184.48M | 156.98M | 155.65M | 158.56M | 154.21M |
| EBITDA Margin % | 5.68% | 6.02% | 5.3% | 6.9% | 8.69% | 8.47% | 5.74% | 5.01% | 5.01% | 4.95% | 5.03% | 5.03% | 5.02% | 4.69% | 4.49% | 3.71% | 4% | 3.46% | -8.69% | 3.67% | 3.77% | 3.44% | 3.25% | 3.68% | 3.77% | 3.57% |
| EBITDA Growth % | 15.68% | 19.05% | -10.83% | -23.88% | 60.92% | 103.69% | 13.32% | 4.82% | 7.75% | -2.65% | -0.79% | 12.39% | 17.65% | 20.1% | 35.65% | -1.41% | 32.23% | 130.83% | -282.23% | -2.25% | 16.37% | 17.52% | 0.86% | -1.84% | 2.82% | - |
| D&A (Non-Cash Add-back) | 85.8M | 82.4M | 75M | 67.7M | 69M | 41.9M | 38.5M | 36.2M | 33.7M | 32.1M | 30.7M | 29.5M | 26.4M | 24.3M | 22.6M | 22.5M | 29M | 22.2M | 30.8M | 28.48M | 26.34M | 24.67M | 22.43M | 26.87M | 25.93M | 30.77M |
| EBIT | 896.4M | 940.9M | 844.3M | 967M | 1.48B | 799.8M | 412.6M | 336.7M | 310.9M | 287.7M | 343.3M | 336.5M | 236.3M | 219.3M | 185.9M | 130.4M | 112.9M | 87.4M | -388.5M | 181.36M | 188.35M | 159.81M | 134.55M | 128.78M | 132.63M | -2.85B |
| Net Interest Income | -284.7M | -278.7M | -269M | -165.7M | -160.6M | -102.1M | -74.5M | -92.8M | -86.1M | -78.6M | -75.5M | -63.1M | -53.3M | -54M | -52.6M | -55.2M | -52.3M | -47.1M | -67.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 284.7M | 278.7M | 269M | 165.7M | 160.6M | 102.1M | 74.5M | 92.8M | 86.1M | 78.6M | 75.5M | 63.1M | 53.3M | 54M | 52.6M | 55.2M | 52.3M | 47.1M | 68.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -197.8M | -339.5M | -260.3M | -152.2M | 46.5M | -94.1M | -32.7M | -81.1M | -86.1M | -78.6M | -30M | -28.2M | -85.2M | -60.8M | -52.6M | -56M | -66.3M | -55.4M | -44.2M | -96.54M | -80.75M | -67.47M | -56.22M | -52.75M | -53.65M | -71.59M |
| Pretax Income | 737.4M | 662.2M | 575.3M | 801.3M | 1.32B | 697.7M | 338.1M | 243.9M | 224.8M | 209.1M | 267.8M | 273.4M | 183M | 165.3M | 133.3M | 75.2M | 60.6M | 40.3M | -457.4M | 84.82M | 107.59M | 92.34M | 78.33M | 76.02M | 78.98M | 51.85M |
| Pretax Margin % | 4.1% | 3.68% | 3.35% | 5.41% | 8.55% | 7.09% | 4.74% | 3.38% | 3.27% | 3.24% | 4.1% | 4.15% | 3.12% | 3.1% | 2.87% | 1.82% | 1.55% | 1.18% | -10.39% | 1.48% | 1.89% | 1.72% | 1.62% | 1.8% | 1.88% | 1.2% |
| Income Tax | 189.6M | 170.2M | 145M | 198.8M | 321.8M | 165.3M | 83.7M | 59.5M | 56.8M | 70M | 100.6M | 104M | 71M | 64.2M | 50M | 29.6M | 23.2M | 14.4M | -133.8M | 30.54M | 40.55M | 34.57M | 31.36M | 28.89M | 37.69M | 5.35M |
| Effective Tax Rate % | 25.71% | 25.7% | 25.2% | 24.81% | 24.4% | 23.69% | 24.76% | 24.4% | 25.27% | 33.48% | 37.57% | 38.04% | 38.8% | 38.84% | 37.51% | 39.36% | 38.28% | 35.73% | 29.25% | 36% | 37.68% | 37.44% | 40.04% | 38% | 47.72% | 10.32% |
| Net Income | 408.12M | 492M | 430.3M | 602.5M | 997.3M | 532.4M | 254.4M | 184.4M | 168M | 139.1M | 167.2M | 169.2M | 111.6M | 109.1M | 82.2M | 67.9M | 38.1M | 13.4M | -343.7M | 50.95M | 60.75M | 61.08M | 50.07M | 15.19M | 38.09M | 43.83M |
| Net Margin % | 2.27% | 2.73% | 2.5% | 4.07% | 6.46% | 5.41% | 3.57% | 2.56% | 2.44% | 2.15% | 2.56% | 2.57% | 1.9% | 2.04% | 1.77% | 1.64% | 0.98% | 0.39% | -7.81% | 0.89% | 1.07% | 1.14% | 1.04% | 0.36% | 0.91% | 1.01% |
| Net Income Growth % | -1.73% | 14.34% | -28.58% | -39.59% | 87.32% | 109.28% | 37.96% | 9.76% | 20.78% | -16.81% | -1.18% | 51.61% | 2.29% | 32.73% | 21.06% | 78.22% | 184.33% | 103.9% | -774.52% | -16.12% | -0.54% | 21.98% | 229.71% | -60.12% | -13.11% | - |
| Net Income (Continuing) | 547.8M | 492M | 430.3M | 602.5M | 997.3M | 532.4M | 254.3M | 184.4M | 168M | 139.1M | 167.2M | 169.4M | 112M | 101.1M | 83.3M | 48M | 37.4M | 25.2M | -323.1M | 54.29M | 67.09M | 57.77M | 52.74M | 47.13M | 41.29M | 45.26M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.4M | 700K | 0 | 0 | 0 | -6.34M | 0 | -2.67M | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 21.48 | 25.13 | 21.50 | 28.69 | 44.52 | 26.49 | 13.18 | 9.55 | 8.28 | 6.62 | 7.40 | 6.41 | 3.71 | 3.51 | 2.61 | 2.08 | 1.14 | 0.41 | -10.84 | 1.53 | 1.78 | 1.86 | 1.48 | 1.34 | 0.99 | 0.80 |
| EPS Growth % | 34.4% | 16.88% | -25.06% | -35.56% | 68.06% | 100.99% | 38.01% | 15.34% | 25.08% | -10.54% | 15.44% | 72.78% | 5.7% | 34.48% | 25.48% | 82.46% | 178.05% | 103.78% | -808.5% | -14.04% | -4.3% | 25.68% | 10.45% | 35.35% | 23.75% | - |
| EPS (Basic) | - | 25.23 | 21.58 | 28.83 | 44.72 | 26.75 | 13.25 | 9.65 | 8.36 | 6.69 | 7.43 | 6.43 | 3.73 | 3.55 | 2.64 | 2.14 | 1.18 | 0.42 | -10.84 | 1.57 | 1.83 | 1.87 | 1.49 | 1.34 | 0.99 | 0.80 |
| Diluted Shares Outstanding | 19M | 19.5M | 20M | 21M | 22.4M | 20.1M | 19.3M | 19.3M | 20.3M | 21M | 22.6M | 26.4M | 30.1M | 31.1M | 31.5M | 32.6M | 33.3M | 32.9M | 31.7M | 33.3M | 34.07M | 32.9M | 33.83M | 32.72M | 38.47M | 34.02M |
| Basic Shares Outstanding | 19M | 19.4M | 19.9M | 20.9M | 22.3M | 19.9M | 19.2M | 19.1M | 20.1M | 20.8M | 22.5M | 26.3M | 29.9M | 30.7M | 31.1M | 31.8M | 32.2M | 32M | 31.7M | 32.5M | 33.19M | 32.69M | 33.61M | 32.65M | 38.47M | 34M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 54.36% | 21.96% | - | - | 19.82% | 30.41% | 51.58% |
Used vehicle pricing normalization
As reported in recent financial filings, ABG's revenue growth has decelerated significantly, shifting from double-digit gains in 2024 to a contraction of 0.9% in 2026Q1, suggesting that the post-pandemic demand surge has largely dissipated across the company's core Sunbelt-focused dealership footprint and vehicle segments.
The transition from 18.2% growth in 2024Q4 to negative territory by early 2026 indicates a cooling consumer environment and potential saturation in key regional markets. Investors should monitor whether this trend reflects a broader cyclical downturn or specific challenges in maintaining volume as vehicle affordability remains under pressure.
Based on the provided income statement data, ABG's gross margin has trended downward from a peak of 17.9% in 2024Q1 to 17.1% in 2026Q1, reflecting the ongoing normalization of vehicle pricing and the diminishing ability to command premium spreads on inventory in a more competitive retail environment.
The compression in gross margins suggests that the pricing power enjoyed during supply chain disruptions is fading, forcing the company to rely more heavily on volume to maintain profitability. This trend warrants further investigation into whether the current margin level represents a new structural floor or if further erosion is likely as used car prices continue to stabilize.
According to the company's quarterly income statements, operating margins have contracted from 6.3% in 2024Q1 to 4.7% in 2026Q1, demonstrating that SG&A expenses are not scaling efficiently against the backdrop of declining revenue and narrowing gross profit margins across the dealership portfolio.
The inability to maintain operating leverage during periods of revenue volatility suggests that the company's fixed-cost base, including facility leases and specialized labor, is becoming a drag on profitability. This indicates that management may face difficulty in protecting bottom-line results if top-line growth does not recover in the near term.
As evidenced by the erratic net income figures, which swung from $28.1 million in 2024Q2 to $187.8 million in 2026Q1, ABG's reported earnings appear highly sensitive to non-operating items and accounting adjustments, complicating the assessment of true underlying profitability for institutional investors.
The significant variance between EPS growth and operating income trends suggests that non-recurring items or tax anomalies may be distorting the reported bottom line. Investors should exercise caution when relying on headline EPS, as these figures may not accurately reflect the core operational health of the dealership business.
Quick answers to the most common questions about buying ABG stock.
For fiscal year 2025, Asbury Automotive Group, Inc. (ABG) reported total revenue of $18.00B. This represents a 316.8% increase compared to $4.32B in 2001.
Asbury Automotive Group, Inc. (ABG) is profitable, generating $492.0M in net income for the fiscal year ending 2025 with a net profit margin of 2.7%.
Asbury Automotive Group, Inc. (ABG) reported an operating income of $1.00B, resulting in an operating profit margin of 5.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Asbury Automotive Group, Inc. (ABG) generated $2.99B in gross profit for the year, representing a gross profit margin of 16.6%. This demonstrates the company's core pricing power and production efficiency.