What is the primary revenue source for Penske Automotive Group (PAG)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze PAG's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out Penske Automotive Group's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How Penske Automotive Group Makes Money: PAG Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Watch

Revenue grew while operating profit fell, so growth did not translate into better earnings.

Operating margin declined by 0.52 percentage points year over year.

Revenue: USD 16.38B
Largest revenue segment share (New Vehicle): 39.42%
Cost of revenue: USD 13.72B
Selling, general and administrative: USD 1.94B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

RevenueRevenues · RevenueFromContractWithCustomerExcludingAssessedTax
Cost of revenueTotal cost of sales · CostOfGoodsAndServicesSold
Selling, general and administrativeSelling, general, and administrative expenses · SellingGeneralAndAdministrativeExpense
Largest revenue segment share (New Vehicle)New Vehicle · segment_value / revenue * 100
Operating marginOperating income · operating_income / revenue * 100

Assets

Where is the money tied up, and how is the company financed?

Watch

Current assets do not cover near-term liabilities, indicating short-term funding pressure.

Inventory: USD 5.11B
Property, plant and equipment: USD 3.29B
Goodwill: USD 2.81B
Total liabilities: USD 12.65B
Shareholder equity: USD 5.83B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

GoodwillGoodwill · Goodwill
Property, plant and equipmentProperty and equipment, net · PropertyPlantAndEquipmentNet
Shareholder equityTotal equity · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilitiesTotal liabilities · Liabilities
InventoryInventories · InventoryNet

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 84.68% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 494.90M
Operating cash flow: USD 419.10M
Cash conversion: 84.68%
Free cash flow: USD 284.20M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeNet income attributable to penske automotive group common stockholders · NetIncomeLoss
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Steady

Dividends and net buybacks are covered by free cash flow, so cash genuinely reached shareholders.

Cash dividends: USD 186.20M
Share repurchases: USD 26.30M
Net shareholder return: USD 212.50M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Cash dividendsPayments of ordinary dividends, common stock · PaymentsOfDividendsCommonStock · abs(node_value)
Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

Please select a report to view

Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?