What is Penske Automotive Group's goodwill impairment?

Penske Automotive Group (PAG) reported goodwill impairment of $0 in Q4 2025.

What does goodwill impairment mean?

A non-cash expense recorded when the value of a previously acquired business or asset is determined to be lower than its book value.

How do you interpret goodwill impairment?

An increase signals that past acquisitions are underperforming, which is generally viewed negatively by investors.

How does goodwill impairment compare across companies?

Common in industries with high M&A activity like automotive retail.

Penske Automotive Group PAG Goodwill impairment

Goodwill impairment at other companies

Allison Transmission HoldingsALSN

$0—

Ally FinancialALLY

$0-100%

AptivAPTV

$648M—

Other financials

Income statement

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Revenue$7.9B-1.1%

Gross profit$1.3B-1.7%

Operating income$289.0M-12.3%

Net income$234.5M-9.0%

EPS (diluted)$3.56-7.8%

Balance sheet

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Cash & equivalents$83.7M-32.1%

Total debt$5.2B+22.5%

Total equity$5.7B+5.0%

Total assets$18.3B+8.2%

Cash flow

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Operating cash flow$215.0M-26.1%

CapEx$62.6M-26.1%

Free cash flow$152.4M-26.1%

Valuation

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Market cap$11.52B+2.3%

Enterprise value$16.62B+8.8%

P/E12.6×+1.4×

P/S0.4×0.0×

Profitability

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Gross margin18.3%+0.1pp

Operating margin4%-0.3pp

Net margin2.9%-0.2pp

FCF margin1.9%-0.3pp

Returns & leverage

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Return on equity16.5%-3.1pp

Debt / equity0.9×+0.1×

Current ratio1×+0.1×

Where this comes from

Reported directly by Penske Automotive Group in its filing.

Tagged under the XBRL concept us-gaap:GoodwillImpairmentLoss.

The official record: Penske Automotive Group’s 10-K, filed February 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Penske Automotive Group's goodwill impairment?: Penske Automotive Group (PAG) reported goodwill impairment of $0 in Q4 2025.
What does goodwill impairment mean?: A non-cash expense recorded when the value of a previously acquired business or asset is determined to be lower than its book value.
How do you interpret goodwill impairment?: An increase signals that past acquisitions are underperforming, which is generally viewed negatively by investors.
How does goodwill impairment compare across companies?: Common in industries with high M&A activity like automotive retail.