Penske Automotive Group, Inc. (PAG) quarterly cash flow statement — complete operating, investing & financing history
Penske Automotive Group, Inc. (PAG) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Cash from Operations | 305.5M | 204.1M | 215M | 123.2M | 306.5M | 209.2M | 291M | 217.7M | 271M | 235.1M | 456M | 71.4M | 417.7M | 293.3M | 311.2M | 250.8M | 329M | 498.6M | 380.6M | -37.5M |
| Operating CF Margin % | 3.63% | 2.4% | 2.73% | 1.39% | 3.98% | 2.6% | 3.66% | 2.82% | 3.57% | 3.05% | 6.12% | 0.98% | 5.61% | 3.93% | 4.24% | 3.58% | 4.75% | 7.22% | 5.46% | -0.6% |
| Operating CF Growth % | -0.33% | -2.44% | -26.12% | -43.41% | 13.1% | -11.02% | -36.18% | 204.9% | -35.12% | -19.84% | 46.53% | -71.53% | 26.96% | -41.18% | -18.23% | 768.8% | -20.53% | -26.41% | 59.05% | -110.65% |
| Net Income | 221.2M | 261.2M | 234.9M | 228.5M | 214.2M | 267.5M | 258.4M | 236.4M | 226.1M | 241.2M | 216.2M | 192M | 264.4M | 302.6M | 299.6M | 302.8M | 341.5M | 374M | 369.5M | 316.2M |
| Depreciation & Amortization | 45.5M | 45.4M | 44.8M | 47.4M | 42.9M | 43.1M | 40.6M | 41M | 40.6M | 38.6M | 37.8M | 37.6M | 35.4M | 34.1M | 33.9M | 32.2M | 31.5M | 31.7M | 31.9M | 31.8M |
| Stock-Based Compensation | 6.7M | 7.7M | 8.1M | 5.9M | 7.4M | 8.9M | 8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 15.4M | 8.2M | -700K | 31.6M | 78.5M | -20.7M | -23.2M | -18.6M | 7.6M | -16.6M | 14.6M | 13.5M | 62.2M | 12.4M | 13.7M | 10.5M | 38.9M | 33.4M | 41.4M | 58.5M |
| Other Non-Cash Items | -39.6M | -67.3M | -101.2M | -18.3M | 80.5M | -36.9M | -85.6M | 7.7M | -33.3M | -28.3M | -33.3M | 30.7M | -48.4M | -34.1M | -82.1M | 79.5M | -67.9M | -76.9M | -119.6M | -22.6M |
| Working Capital Changes | 56.3M | -51.1M | 29.1M | -171.9M | -117M | -52.7M | 92.8M | -48.8M | 30M | 200K | 220.7M | -202.4M | 104.1M | -21.7M | 46.1M | -174.2M | -15M | 136.4M | 57.4M | -421.4M |
| Change in Receivables | 14.8M | 21.4M | -10.6M | -41M | 3.4M | 195.5M | -202.6M | -17.9M | 42.1M | 25.3M | 75.9M | -139.5M | -81.7M | 36.7M | -10.2M | -55.2M | -79.6M | 43M | -101.1M | 6.2M |
| Change in Inventory | 90.8M | -260.3M | -74.7M | -54.7M | 6.4M | -211.5M | 194.6M | 40.2M | 68.7M | -228.4M | -77.2M | -504M | 112M | -179M | -95.2M | -247.5M | -181.8M | -45.9M | 30.8M | -461M |
| Change in Payables | 14.3M | -53.4M | 147.8M | -139.4M | -44.8M | -149.4M | 190.3M | -10M | -80.5M | 2.9M | 130.5M | -115.7M | 8.3M | -37.2M | 131.6M | -64.1M | 16.1M | -4.9M | 134.6M | -151.5M |
| Cash from Investing | -76.9M | 3.3M | -634.4M | -58.7M | -81.4M | -40.5M | -4.6M | -153.5M | -232.2M | -298.9M | -352.4M | -110.6M | -200.3M | -155.9M | -105.5M | -57.4M | -227.3M | -207.2M | -149.8M | -247M |
| Capital Expenditures | -82.2M | -72.3M | -62.6M | -98.1M | -79.1M | -72.9M | -84.7M | -86.1M | -80.9M | -99.2M | -102.5M | -103.2M | -86.6M | -83.1M | -102.4M | -86.8M | -57.6M | -81.9M | -56.2M | -91.4M |
| CapEx % of Revenue | 0.98% | 0.85% | 0.8% | 1.11% | 1.03% | 0.91% | 1.06% | 1.12% | 1.07% | 1.29% | 1.38% | 1.42% | 1.16% | 1.11% | 1.4% | 1.24% | 0.83% | 1.19% | 0.81% | 1.45% |
| Acquisitions | 0 | 73.7M | -592.7M | 39.8M | -15.3M | 17.4M | 77.8M | -128.1M | -196.6M | -197.2M | -243.6M | -3.6M | -130.8M | -80.5M | 0 | 13.1M | -167.5M | -132.3M | -93.6M | -153.8M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 5.3M | 1.9M | 20.9M | -400K | 13M | 15M | 2.3M | 60.7M | 45.3M | -2.5M | -6.3M | -3.8M | 17.1M | 7.7M | -3.1M | 16.3M | -2.2M | 7M | 0 | -1.8M |
| Cash from Financing | -230.2M | -221.2M | 438.6M | -91.1M | -300.2M | -137.8M | -248.3M | -81M | -63.6M | 62M | -82.1M | 29.8M | -231.3M | -117.8M | -211.8M | -182.7M | -156.3M | -299.9M | -159.1M | 266M |
| Debt Issued (Net) | -134.8M | -126.1M | 558.7M | 456.4M | -432.1M | 52.5M | -119.2M | 20M | 8.4M | 87.9M | 18M | -88.2M | -101.6M | 272.1M | -57.3M | -25.9M | 162.2M | -88.4M | -3.4M | 480.3M |
| Equity Issued (Net) | 0 | -16.1M | -26.3M | -40.1M | -7.8M | -71.3M | -39.9M | -600K | -100K | -25.2M | -32.9M | -17.6M | -13.1M | -217.9M | -110.2M | -284.5M | -309.4M | -173.4M | -119.2M | -73.7M |
| Dividends Paid | -94.8M | -93.6M | -92.6M | -91.1M | -87.3M | -83.6M | -81.8M | -79.7M | -71.7M | -64.4M | -58.6M | -53.3M | -48.6M | -44.9M | -42.3M | -40.5M | -39.2M | -38M | -36.4M | -36.2M |
| Share Repurchases | 0 | -16.1M | -26.3M | -40.1M | -7.8M | -71.3M | -39.9M | -600K | -100K | -25.2M | -32.9M | -17.6M | -13.1M | -217.9M | -110.2M | -284.5M | -309.4M | -156.2M | -119.2M | -73.7M |
| Other Financing | -600K | 14.6M | -1.2M | -416.3M | 227M | -35.4M | -7.4M | -20.7M | -200K | 63.7M | -8.6M | 188.9M | -68M | -127.1M | -2M | 168.2M | 30.1M | -100K | -100K | -104.4M |
| Net Change in Cash | -1.2M | -14.2M | 19M | -15.6M | -75M | 36M | 39.6M | -19.5M | -23.2M | -1.8M | 20.5M | -8M | -15.2M | 19M | -5.9M | 14.2M | -62.6M | -15.4M | 69.6M | -18.5M |
| Free Cash Flow | 223.3M | 131.8M | 152.4M | 25.1M | 227.4M | 136.3M | 206.3M | 131.6M | 190.1M | 135.9M | 353.5M | -31.8M | 331.1M | 210.2M | 208.8M | 164M | 271.4M | 416.7M | 324.4M | -128.9M |
| FCF Margin % | 2.65% | 1.55% | 1.94% | 0.28% | 2.96% | 1.7% | 2.59% | 1.7% | 2.5% | 1.77% | 4.75% | -0.44% | 4.45% | 2.81% | 2.85% | 2.34% | 3.92% | 6.03% | 4.65% | -2.05% |
| FCF Growth % | -1.8% | -3.3% | -26.13% | -80.93% | 19.62% | 0.29% | -41.64% | 513.84% | -42.59% | -35.35% | 69.3% | -119.39% | 22% | -49.56% | -35.63% | 227.23% | -21.85% | -33.76% | 64.75% | -146% |
| FCF per Share | 3.40 | 2.00 | 2.32 | 0.38 | 3.45 | 2.06 | 3.09 | 1.97 | 2.85 | 2.03 | 5.27 | -0.47 | 4.92 | 3.08 | 3.02 | 2.32 | 3.68 | 5.50 | 4.20 | -1.65 |
| FCF Conversion (FCF/Net Income) | 1.38x | 0.78x | 0.92x | 0.54x | 1.44x | 0.78x | 1.13x | 0.92x | 1.20x | 0.97x | 2.12x | 0.37x | 1.59x | 0.98x | 1.04x | 0.84x | 0.97x | 1.33x | 1.03x | -0.12x |
| Interest Paid | 64.9M | 75.3M | 64M | 76.4M | 66.2M | 62.9M | 69.6M | 70.5M | 73.7M | 58.8M | 68.6M | 57.5M | 42.5M | 66.6M | 47.7M | 36M | 27.6M | 24.5M | 24.7M | 15.5M |
| Taxes Paid | 56.8M | 139.9M | 17.3M | 53.9M | 36.3M | 157.8M | 23.5M | 60.8M | 95.3M | 138.8M | 22.5M | 25.6M | 50.1M | 188.5M | 23.9M | 89.6M | 94.9M | 139.6M | 19.3M | 115.6M |