PAG on NYSE

Penske Automotive Group

Logo: The logo is from the following website: https://s23.q4cdn.com/254571496/files/images/irw/logo.png, Non-free logo, via Wikipedia6

International transportation services company

Penske Automotive Group, Inc. (PAG) is an American transportation services company headquartered in Bloomfield Hills, Michigan.3 From Wikipedia, CC BY-SA 4.0

$212.51 up 0.51 (0.24%)Price as of Oct 16, 2026 at 19:58 UTC

Last updated Oct 19, 2026.

Overview

1990Founded1

Compare with AutoNation, Lithia Motors or CarMax, or pick any stock.

  • TickerPAG on NYSE1
  • Industryautomotive industry1
  • HeadquartersBloomfield Hills1
  • Websitewww.penskeautomotive.com
  • Legal formDelaware corporation1
  • Incorporated inDE7
  • Business address2555 Telegraph Rd, Bloomfield Hills, Mi 48302-09547
  • Filer categoryLarge accelerated filer7
  • LEI549300W7UTQ0M4C7LB154
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 22484904

Penske Automotive Group, Inc. (PAG) is an American transportation services company headquartered in Bloomfield Hills, Michigan. It operates automotive and commercial truck dealers principally in the United States, Canada, and Western Europe, and distributes commercial vehicles, engines, power systems, and related parts and services principally in Australia and New Zealand. Additionally, PAG owns 28.9% of Penske Transportation Solutions, a business that manages a fleet of over 400,000 trucks, tractors, and trailers. PAG is a member of the Fortune 500, Russell 1000, and Russell 3000 indexes.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

16.4%Gross margin9
4.0%Operating margin9
2.9%Net margin9
-0.2%Revenue growth, 20259
16.8%Return on equity9
0.33×Debt to equity9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Retail Automotive Dealership brought in 84% of the revenue Penske Automotive Group broke down this way in fiscal 2025.

  1. Retail Automotive Dealership$27.5B984%down 0% from 2024
  2. Retail Commercial Truck Dealership$3.4B910%down 3% from 2024
  3. Other Operating$922.6M93%up 19% from 2024
  4. Commercial Vehicle Distribution And Other$922.6M93%up 19% from 2024
Business segments by year
Business segments202320242025
Retail Automotive Dealership$26.6B$27.6B$27.5B
Retail Commercial Truck Dealership$3.7B$3.5B$3.4B
Other Operating$634.0M$777.9M$922.6M
Commercial Vehicle Distribution And Other$634.0M$777.9M$922.6M

Regions

United States brought in 62% of the revenue Penske Automotive Group broke down this way in fiscal 2025.

  1. United States$19.6B962%up 2% from 2024
  2. United Kingdom$8.3B926%down 11% from 2024
  3. Non-US and Non-UK$3.9B912%up 14% from 2024
Regions by year
Regions202320242025
United States$18.6B$19.1B$19.6B
United Kingdom$9.2B$9.3B$8.3B
Non-US and Non-UK$3.1B$3.4B$3.9B

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue84¢$26.6B
  • Selling, general and admin12¢$3.8B
  • Other costs1¢$191.8M
  • Income tax1¢$325.8M
  • Profit3¢$935.4M

Out of $31.8B in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid35¢$343.8M
  • Share buybacks16¢$159.1M
  • Kept or used elsewhere48¢$472.2M

Out of $975.1M of cash from operations.9

Financial statements

Revenue101112139$31.8B in 2025+37% since 2019
0$10.0B$20.0B$30.0B$40.0B2019: $23.2B$23.2B20192020: $20.4B$20.4B2020−12%2021: $25.6B$25.6B2021+25%2022: $27.8B$27.8B2022+9%2023: $30.9B$30.9B2023+11%2024: $31.9B$31.9B2024+3%2025: $31.8B$31.8B2025−0%
Gross profit101112139$5.2B in 2025+51% since 2019
0$2.0B$4.0B$6.0B2019: $3.5B$3.5B20192020: $3.2B$3.2B2020−8%2021: $4.4B$4.4B2021+39%2022: $4.8B$4.8B2022+9%2023: $5.1B$5.1B2023+6%2024: $5.2B$5.2B2024+1%2025: $5.2B$5.2B2025−0%
Operating income101112139$1.3B in 2025+96% since 2019
0$500.0M$1.0B$1.5B2019: $652.7M$652.7M20192020: $704.5M$704.5M2020+8%2021: $1.4B$1.4B2021+93%2022: $1.5B$1.5B2022+10%2023: $1.4B$1.4B2023−5%2024: $1.4B$1.4B2024−3%2025: $1.3B$1.3B2025−7%
Net income101112139$935.4M in 2025+115% since 2019
0$500.0M$1.0B$1.5B2019: $435.8M$435.8M20192020: $543.6M$543.6M2020+25%2021: $1.2B$1.2B2021+119%2022: $1.4B$1.4B2022+16%2023: $1.1B$1.1B2023−20%2024: $968.9M$968.9M2024−13%2025: $935.4M$935.4M2025−3%

Every line of the income statement as filed: the last 3 fiscal years (annual) or 8 quarters (quarterly), latest first.9

Period ending2025-12-312024-12-312023-12-31
Total revenues$31.8B$31.9B$30.9B
Total cost of sales$26.6B$26.6B$25.8B
Gross profit$5.2B$5.2B$5.1B
Selling, general, and administrative expenses$3.8B$3.7B$3.6B
Goodwill impairment charges$0$0$40.7M
Depreciation$172.3M$161.3M$143.7M
Operating income$1.3B$1.4B$1.4B
Floor plan interest expense-$170.6M-$193.1M-$135.3M
Other interest expense-$91.6M-$87.8M-$92.6M
Gain on sale of dealership$52.3M$0$0
Equity in earnings of affiliates$192.9M$200.7M$293.7M
Income before income taxes$1.3B$1.3B$1.5B
Income taxes-$325.8M-$316.5M-$360.9M
Net income attributable to Penske Automotive Group common stockholders$935.4M$968.9M$1.1B
Net income attributable to Penske Automotive Group common stockholders (in dollars per share)$14.13$14.49$16.31
Shares used in determining basic earnings per share (in shares)66.2M shares66.9M shares68.0M shares
Net income attributable to Penske Automotive Group common stockholders (in dollars per share)$14.13$14.49$16.31
Shares used in determining diluted earnings per share (in shares)66.2M shares66.9M shares68.0M shares
Net income$937.9M$973.4M$1.1B
Less: Income attributable to non-controlling interests$2.5M$4.5M$5.4M
Cash dividends per share (in dollars per share)$5.18$4.09$2.78

Compare Penske Automotive Group with another company

The story

Founded by Marshall Cogan and Roger Penske in 1990.1

Penske Automotive was founded as United Automotive Group in 1990 by Marshall S. Cogan, and later came under the control of Penske Corporation and Roger Penske in May 1999. Several years later, on July 2, 2007, United Automotive Group changed its corporate name to Penske Automotive Group, Inc; and changed its ticker symbol on the NYSE to PAG.

In February 2009, General Motors declared its intent to part with the Saturn brand by closing or selling the division, either to investors or to dealers, as part of restructuring plans dependent upon the receipt of a second round of government loans ("bailout" funding). In June 2009, it was announced with much fanfare that Penske Automotive Group would purchase Saturn and its assets from General Motors. Less than four months later, on September 30, the deal collapsed as Penske announced it would terminate the deal with GM blaming manufacturing uncertainties with certain models.

From Wikipedia’s article on Penske Automotive Group, shared under CC BY-SA 4.0.8

Leadership

Who has led Penske Automotive Group, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (32)

Former names

  • UNITED AUTO GROUP INCDec 6, 1996 to Jun 26, 20077

Timeline

  1. Mar 9, 2006New chief executive Roger Penske becomes CEO17
  2. 1990Founded Founded1

Filings

392 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 57 major events, 259 insider forms, 9 large holders, 47 other. The latest 20:

  1. Oct 15, 2026SCHEDULE 13D/A EDGAR
  2. Oct 15, 2026SCHEDULE 13D/A EDGAR
  3. Oct 15, 2026DEFA14A EDGAR
  4. Oct 15, 2026DEFA14A EDGAR
  5. Oct 15, 20268-K EDGAR
  6. Oct 15, 20268-K EDGAR
  7. Sep 3, 20264 EDGAR
  8. Sep 3, 20264 EDGAR
  9. Sep 3, 20264 EDGAR
  10. Sep 3, 20264 EDGAR
  11. Sep 3, 20264 EDGAR
  12. Sep 3, 20264 EDGAR
  13. Aug 10, 20268-K EDGAR
  14. Jul 30, 202610-Q EDGAR
  15. Jul 29, 20268-K EDGAR
  16. Jul 23, 20268-K EDGAR
  17. Jul 22, 20268-K EDGAR
  18. Jul 22, 2026SCHEDULE 13D/A EDGAR
  19. Jul 22, 2026SCHEDULE 13D/A EDGAR
  20. Jun 17, 202611-K EDGAR

The 392 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

37 open-market trades by officers, directors and large owners since October 2021: 0 buys and 37 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 2, 2026Hulgrave MichelleEVP & CFOSale1,500$171.80$257.7KForm 4
May 18, 2026SMITH GREG CDirectorSale1,488$160.02$238.1KForm 4
Nov 24, 2025Hulgrave MichelleEVP & CFOSale2,100$160.17$336.4KForm 4
Aug 29, 2025Pierce Sandra E.DirectorSale1,604$187.05$300.0KForm 4
Aug 19, 2025Hulgrave MichelleEVP & CFOSale1,100$182.55$200.8KForm 4
Aug 18, 2025Davis Lisa AnnDirectorSale1,604$180.74$289.9KForm 4
Aug 13, 2025Spradlin Shane M.EVP, Gen. Counsel & Sec.Sale3,000$184.30$552.9KForm 4
Jun 9, 2025Spradlin Shane M.EVP, Gen. Counsel & Sec.Sale3,158$167.10$527.7KForm 4
Jun 3, 2025SMITH GREG CDirectorSale1,529$161.64$247.1KForm 4
Jun 3, 2025PENSKE ROGER SChair & CEOSale77,357$161.37$12.5MForm 4
Jun 2, 2025PENSKE ROGER SChair & CEOSale20,100$159.80$3.2MForm 4
Jun 2, 2025KURNICK ROBERT H JRPresidentSale11,357$160.11$1.8MForm 4
Jun 2, 2025Hulgrave MichelleEVP & CFOSale1,500$163.08$244.6KForm 4
Mar 13, 2025BARR JOHNDirectorSale1,529$155.45$237.7KForm 4
Feb 14, 2025Denker Claude H IIIEVP - Human ResourcesSale8,746$173.03$1.5MForm 4
Aug 1, 2024BARR JOHNDirectorSale716$170.71$122.2KForm 4
Jun 3, 2024Hulgrave MichelleEVP & CFOSale2,000$153.15$306.3KForm 4
Mar 13, 2024BARR JOHNDirectorSale1,600$154.05$246.5KForm 4
Feb 16, 2024SMITH GREG CDirectorSale1,604$149.38$239.6KForm 4
Feb 16, 2024STEINHART RONALD GDirectorSale2,029$149.58$303.5KForm 4

All 37 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.2,333,144$417.5M0.0%−68,122
Dimensional Fund Advisors LP1,648,081$294.9M0.1%+200,171
Victory Capital Management Inc1,642,363$293.9M0.2%−11,671
Bank Of Montreal /can/825,389$147.7M0.1%+1,060
Vanguard Portfolio Management LLC796,548$142.5M0.0%−19,585
Vanguard Capital Management LLC764,299$136.8M0.0%+6,351
Charles Schwab Investment Management Inc631,653$113.0M0.0%+59,350
State Street Corp625,209$111.9M0.0%−10,456
Morgan Stanley584,751$104.6M0.0%+7,079
Aqr Capital Management LLC456,043$81.6M0.0%−3,594
Bank Of America Corp /de/441,829$79.1M0.0%−21,955
Gamco Investors, Inc. Et Al394,387$70.6M0.6%−608
Goldman Sachs Group Inc385,752$69.0M0.0%+40,982
Bank of New York Mellon Corp378,997$67.8M0.0%−9,980
Geode Capital Management, LLC355,157$63.6M0.0%+1,177
Bahl & Gaynor LLC264,799$47.4M0.2%+129,390
UBS Group AG245,492$43.9M0.0%+69,666
Invesco Ltd.241,287$43.2M0.0%+38,309
Norges Bank200,575$35.9M0.0%New
Bruni J V & Co /co171,994$30.8M2.8%−3,222
Private Management Group Inc170,497$30.5M0.8%−1,256
Millennium Management LLC168,776$30.2M0.0%+121,008
Fmr LLC152,615$27.3M0.0%+6,010
Northern Trust Corp148,914$26.6M0.0%−125
First Trust Advisors LP139,992$25.1M0.0%+58,154

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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