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Penske Automotive Group PAG Retail Automotive — Goodwill Adjustments

Discontinued — last reported Q4 '23

Other segment segments

Retail automotive dealership
$49.2M+395%
Retail commercial truck dealership
$3.9M+155%

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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:GoodwillTranslationAndPurchaseAccountingAdjustments.

The official record: Penske Automotive Group’s 10-K, filed February 16, 2024, on SEC EDGAR. View the filing →

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Questions, answered.

What is Penske Automotive Group's retail automotive — goodwill adjustments?
Penske Automotive Group (PAG) reported retail automotive — goodwill adjustments of $5.7M in Q4 2023.
How has Penske Automotive Group's retail automotive — goodwill adjustments changed year-over-year?
Penske Automotive Group's retail automotive — goodwill adjustments increased by 143.3% year-over-year, from -$13.15M to $5.7M.
What does retail automotive — goodwill adjustments mean?
Adjustments to goodwill values caused by changes in foreign exchange rates or final accounting valuations after an acquisition.
How do you interpret retail automotive — goodwill adjustments?
Large adjustments may indicate significant currency volatility or revisions to the initial valuation of acquired assets.
How does retail automotive — goodwill adjustments compare across companies?
Common for multinational companies; reflects the impact of global operations on reported asset values.