Latest Ratios: P/E Ratio 14.8x · EV/EBITDA 15.9x · ROE 17.3%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $14.0B | $10.5B | $10.2B | $10.9B | $8.6B | $8.6B | $4.8B | $4.1B | $3.4B | $4.1B | $4.5B |
| Enterprise Value | $22.7B | $19.2B | $18.4B | $18.6B | $15.4B | $14.9B | $11.9B | $12.8B | $9.4B | $10.0B | $9.6B |
| P/E Ratio → | 14.78 | 11.20 | 10.52 | 10.36 | 6.20 | 7.20 | 8.81 | 9.51 | 7.29 | 6.70 | 12.99 |
| P/S Ratio | 0.42 | 0.33 | 0.32 | 0.35 | 0.31 | 0.33 | 0.23 | 0.18 | 0.15 | 0.19 | 0.22 |
| P/B Ratio | 2.52 | 1.88 | 1.95 | 2.30 | 2.05 | 2.09 | 1.44 | 1.47 | 1.30 | 1.69 | 2.51 |
| P/FCF | 26.22 | 16.11 | 12.57 | 15.20 | 7.27 | 8.19 | 4.71 | 15.16 | 11.11 | 10.91 | 26.26 |
| P/OCF | 14.32 | 10.75 | 8.64 | 9.98 | 5.86 | 6.61 | 3.98 | 7.99 | 5.59 | 6.59 | 11.96 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.60 | 0.58 | 0.60 | 0.55 | 0.58 | 0.58 | 0.55 | 0.41 | 0.47 | 0.48 |
| EV / EBITDA | 15.88 | 13.24 | 12.04 | 11.64 | 9.53 | 10.05 | 14.54 | 16.77 | 12.23 | 14.14 | 14.49 |
| EV / EBIT | 17.74 | 12.61 | 11.71 | 10.90 | 7.77 | 8.72 | 13.78 | 15.97 | 11.76 | 13.89 | 14.94 |
| EV / FCF | — | 29.57 | 22.68 | 25.83 | 13.09 | 14.22 | 11.73 | 46.77 | 30.42 | 26.53 | 56.71 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.4% | 16.4% | 16.4% | 16.6% | 17.4% | 17.4% | 15.6% | 14.9% | 15.0% | 15.1% | 14.7% |
| Operating Margin | 4.0% | 4.0% | 4.3% | 4.7% | 5.3% | 5.3% | 3.4% | 2.8% | 2.9% | 2.9% | 2.9% |
| Net Profit Margin | 2.9% | 2.9% | 3.0% | 3.6% | 5.0% | 4.6% | 2.7% | 1.9% | 2.1% | 2.9% | 1.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.3% | 17.3% | 19.4% | 24.8% | 33.4% | 32.0% | 17.7% | 16.0% | 18.6% | 29.2% | 19.0% |
| ROA | 5.3% | 5.3% | 6.0% | 7.4% | 10.0% | 8.9% | 4.0% | 3.5% | 4.4% | 6.3% | 4.1% |
| ROIC | 6.9% | 6.9% | 8.0% | 9.3% | 10.4% | 9.8% | 4.8% | 4.9% | 5.9% | 6.0% | 6.4% |
| ROCE | 11.5% | 11.5% | 13.5% | 14.9% | 16.0% | 15.3% | 8.3% | 9.1% | 11.7% | 12.0% | 13.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.58 | 1.58 | 1.58 | 1.63 | 1.67 | 1.56 | 2.16 | 3.08 | 2.28 | 2.44 | 2.92 |
| Debt / EBITDA | 6.07 | 6.07 | 5.41 | 4.85 | 4.31 | 4.33 | 8.76 | 11.37 | 7.82 | 8.39 | 7.82 |
| Net Debt / Equity | — | 1.57 | 1.57 | 1.61 | 1.64 | 1.54 | 2.15 | 3.07 | 2.27 | 2.42 | 2.91 |
| Net Debt / EBITDA | 6.03 | 6.03 | 5.36 | 4.79 | 4.24 | 4.26 | 8.70 | 11.33 | 7.76 | 8.32 | 7.78 |
| Debt / FCF | — | 13.46 | 10.11 | 10.64 | 5.82 | 6.03 | 7.02 | 31.61 | 19.31 | 15.62 | 30.45 |
| Interest Coverage | 5.82 | 5.82 | 5.59 | 7.47 | 16.14 | 17.96 | 5.50 | 3.83 | 4.09 | 4.21 | 4.73 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.99 | 0.99 | 0.91 | 1.00 | 0.99 | 0.95 | 0.94 | 0.98 | 1.01 | 1.01 | 1.05 |
| Quick Ratio | 0.22 | 0.22 | 0.20 | 0.25 | 0.25 | 0.22 | 0.21 | 0.20 | 0.21 | 0.22 | 0.24 |
| Cash Ratio | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Asset Turnover | — | 1.73 | 1.91 | 1.97 | 1.97 | 1.90 | 1.54 | 1.66 | 2.09 | 2.03 | 2.27 |
| Inventory Turnover | 5.52 | 5.52 | 5.74 | 6.00 | 6.55 | 6.75 | 5.04 | 4.63 | 4.79 | 4.61 | 5.03 |
| Days Sales Outstanding | — | 12.28 | 11.48 | 13.16 | 11.90 | 10.48 | 14.41 | 15.12 | 14.88 | 16.30 | 15.95 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.4% | 3.3% | 2.7% | 1.7% | 1.8% | 1.7% | 1.4% | 3.2% | 3.5% | 2.6% | 2.1% |
| Payout Ratio | 36.8% | 36.8% | 28.3% | 17.1% | 11.2% | 12.0% | 12.5% | 30.0% | 25.7% | 17.7% | 27.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.8% | 8.9% | 9.5% | 9.7% | 16.1% | 13.9% | 11.3% | 10.5% | 13.7% | 14.9% | 7.7% |
| FCF Yield | 3.8% | 6.2% | 8.0% | 6.6% | 13.8% | 12.2% | 21.2% | 6.6% | 9.0% | 9.2% | 3.8% |
| Buyback Yield | 1.1% | 1.5% | 0.6% | 3.3% | 10.2% | 3.3% | 0.6% | 4.1% | 2.0% | 0.5% | 3.9% |
| Total Shareholder Yield | 3.6% | 4.8% | 3.3% | 5.0% | 12.0% | 4.9% | 2.0% | 7.2% | 5.5% | 3.1% | 6.0% |
| Shares Outstanding | — | $66M | $67M | $68M | $74M | $80M | $81M | $82M | $85M | $86M | $86M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying PAG stock.
Penske Automotive Group, Inc.'s current P/E ratio is 14.8x. The historical average is 19.1x. This places it at the 70th percentile of its historical range.
Penske Automotive Group, Inc.'s current EV/EBITDA is 15.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.2x.
Penske Automotive Group, Inc.'s return on equity (ROE) is 17.3%. The historical average is 12.6%.
Based on historical data, Penske Automotive Group, Inc. is trading at a P/E of 14.8x. This is at the 70th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Penske Automotive Group, Inc.'s current dividend yield is 2.45% with a payout ratio of 36.8%.
Penske Automotive Group, Inc. has 16.4% gross margin and 4.0% operating margin.
Penske Automotive Group, Inc.'s Debt/EBITDA ratio is 6.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Floorplan leverage and rate sensitivity
Metrics are mathematically derived from official filings.
Discount Multiples Reflect Cyclical Retail Exposure
Based on reported figures, PAG trades at a trailing P/E of 15.02 and forward P/E of 15.96, a premium to the dealer peer group's roughly 8 to 11 times earnings, suggesting the market credits its commercial truck stake more than pure retail peers.
The gap between PAG's roughly 15 times earnings and the 8 to 11 times range of AutoNation, Asbury, and Lithia appears to reflect investor willingness to pay for counter-cyclical equity income from Penske Transportation Solutions. The PEG of 0.94 suggests the implied growth is not demanding, yet forward P/E rising slightly above trailing indicates consensus expects earnings to soften modestly. Investors should monitor whether the conglomerate premium persists if retail gross profit per unit continues to compress.
Thin Operating Margins Limit Earnings Cushion
As reported in quarterly statements, PAG's operating margin slipped from 4.5% in 2025Q2 to 3.6% in 2026Q3, while gross margin fell to 15.7%, the weakest level in the ten-quarter window.
A 3.6% to 4.5% operating margin band leaves little room for error when SG&A runs near 12% of revenue, indicating limited operating leverage beyond gross profit movements. The compression appears to be driven by gross margin pressure rather than cost overruns, consistent with normalizing new-vehicle pricing. Net margin of 2.6% in the latest quarter suggests earnings depend on sustained parts and service mix to protect the bottom line.
Returns Drifting Lower Despite Equity Growth
According to reported quarterly figures, ROIC declined from 2.0% in 2025Q4 to 1.5% in 2026Q3, while ROE eased from 4.5% to 3.7% across the same period despite a rising equity base.
ROIC in the 1.5% to 2.0% range is low in absolute terms and compares unfavorably with peers such as Asbury and Group 1 at roughly 8% to 8.5%, suggesting the capital intensity of floorplan-funded inventory and acquisitions dilutes returns. The ROE gap is less alarming than ROIC because leverage flatters equity returns, which may mask weaker operating efficiency. Returns appear to be decaying rather than compounding, warranting further investigation of acquisition paybacks.
Leverage Ratios Hinge on Floorplan Treatment
Based on reported figures, PAG's debt-to-equity of 1.51 and debt-to-EBITDA of 25.88 appear high on EBITDA, while interest coverage of 5.35 suggests debt service remains manageable at current rates.
The D/EBITDA reading near 26 times looks elevated, though much of the reported EBITDA cushion depends on how floorplan interest and PTS equity income are treated in the calculation. Interest coverage above 5 times suggests near-term service is comfortable, but the reported D/E may exclude floorplan notes that are standard for dealerships. Investors should monitor whether a full reconciliation of operational debt materially changes the leverage picture.
Headline Cash Strength May Be Timing-Driven
Based on reported figures, the 2026Q3 free cash flow margin of 2.7% and the 3.7% reading in 2025Q1 coincide with large working capital swings, which may overstate the underlying recurring cash run rate.
Free cash flow margins swinging between 0.3% and 3.7% suggest headline cash generation depends heavily on inventory and receivable timing rather than a steady conversion rate. The P/FCF of 18.85 may therefore look more or less attractive depending on which quarters are annualized. The working capital cycle of roughly 65 days appears stable on the surface, but a reversal in inventory turns would likely pressure cash flow faster than earnings.