AutoNation (AN)
Market Price (7/21/2026): $197.915 | Market Cap: $6.9 BilSector: Consumer Discretionary | Industry: Automotive Retail
AutoNation (AN)
Market Price (7/21/2026): $197.915Market Cap: $6.9 BilSector: Consumer DiscretionaryIndustry: Automotive Retail
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.8% Stock buyback supportStock Buyback 3Y Total is 2.1 Bil Low stock price volatilityVol 12M is 28% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail. Themes include Online Marketplaces, Direct-to-Consumer Brands, and Last-Mile Delivery. | Weak multi-year price returns2Y Excs Rtn is -18%, 3Y Excs Rtn is -54% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 152% Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 37x Weak revenue growthRev Chg QQuarterly Revenue Change % is -2.1% Key risksAN key risks include [1] its critical dependence on vehicle manufacturers and vulnerability to supply chain disruptions, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.8% |
| Stock buyback supportStock Buyback 3Y Total is 2.1 Bil |
| Low stock price volatilityVol 12M is 28% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail. Themes include Online Marketplaces, Direct-to-Consumer Brands, and Last-Mile Delivery. |
| Weak multi-year price returns2Y Excs Rtn is -18%, 3Y Excs Rtn is -54% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 152% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 37x |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -2.1% |
| Key risksAN key risks include [1] its critical dependence on vehicle manufacturers and vulnerability to supply chain disruptions, Show more. |
Qualitative Assessment
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AutoNation (AN) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Mixed Fiscal Q1 2026 Performance with Revenue Miss and EPS Beat.
AutoNation reported mixed financial results for its fiscal Q1 2026, which ended on March 31, 2026, and were released on May 1, 2026. The company posted an adjusted diluted EPS of $4.69, which beat some analyst consensus estimates (e.g., $4.61) and marked the fifth consecutive quarter of year-over-year adjusted EPS growth. However, revenue for the quarter decreased by 2.1% year-over-year to $6.55 billion, falling below analyst expectations (ranging from $6.65 billion to $6.66 billion). This divergence, with strong profitability in after-sales and customer financial services offsetting declines in new and used vehicle unit sales, created a balanced financial picture that contributed to the stock's largely stable trend rather than a decisive upward or downward movement.
2. Balanced Capital Allocation Through Significant Share Repurchases and Strategic Acquisitions.
AutoNation actively managed its capital through substantial share repurchases and strategic acquisitions, providing offsetting forces on its stock price. In fiscal Q1 2026, the company repurchased $300 million worth of common stock, reducing its share count by 1.5 million shares at an average price of $201 per share. Year-to-date through April 29, 2026, share repurchases totaled $391 million. By June 23, 2026, year-to-date share repurchases exceeded $450 million, leading to a reduction of more than 6% in shares outstanding. Concurrently, AutoNation expanded its footprint with acquisitions, including three premium luxury dealerships in California's San Francisco Bay Area in June 2026, which are expected to add approximately $400 million in annual revenue. This dual strategy of returning capital to shareholders and investing in growth likely supported the stock's stability.
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AutoNation (AN) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Mixed Fiscal Q1 2026 Performance with Revenue Miss and EPS Beat.
AutoNation reported mixed financial results for its fiscal Q1 2026, which ended on March 31, 2026, and were released on May 1, 2026. The company posted an adjusted diluted EPS of $4.69, which beat some analyst consensus estimates (e.g., $4.61) and marked the fifth consecutive quarter of year-over-year adjusted EPS growth. However, revenue for the quarter decreased by 2.1% year-over-year to $6.55 billion, falling below analyst expectations (ranging from $6.65 billion to $6.66 billion). This divergence, with strong profitability in after-sales and customer financial services offsetting declines in new and used vehicle unit sales, created a balanced financial picture that contributed to the stock's largely stable trend rather than a decisive upward or downward movement.
2. Balanced Capital Allocation Through Significant Share Repurchases and Strategic Acquisitions.
AutoNation actively managed its capital through substantial share repurchases and strategic acquisitions, providing offsetting forces on its stock price. In fiscal Q1 2026, the company repurchased $300 million worth of common stock, reducing its share count by 1.5 million shares at an average price of $201 per share. Year-to-date through April 29, 2026, share repurchases totaled $391 million. By June 23, 2026, year-to-date share repurchases exceeded $450 million, leading to a reduction of more than 6% in shares outstanding. Concurrently, AutoNation expanded its footprint with acquisitions, including three premium luxury dealerships in California's San Francisco Bay Area in June 2026, which are expected to add approximately $400 million in annual revenue. This dual strategy of returning capital to shareholders and investing in growth likely supported the stock's stability.
3. Persistent Macroeconomic Headwinds Impacting Auto Retail Affordability and Sales.
The broader automotive retail market experienced several macroeconomic challenges during the period, contributing to a muted stock performance for AutoNation. New vehicle prices reached an all-time high of over $52,000 in fiscal Q2 2026. Concurrently, average auto loan interest rates remained elevated, hovering around 7%, which continued to constrain consumer demand and affordability. The Federal Reserve's decision to keep interest rates unchanged during fiscal Q2 2026 sustained this financing pressure. While overall demand remained resilient with a shift towards more affordable and efficient vehicles, industry new vehicle sales were still forecast to decrease 1.0% year-over-year in fiscal Q2 2026. Dealer sentiment reflected concerns about inflation, economic conditions, and softening consumer demand, dampening prospects for significant market-driven stock appreciation.
4. Analyst Consensus for Moderate Buy with Upside Potential, tempered by Valuation Concerns.
Analyst sentiment for AutoNation during the period was generally positive, with a consensus rating of "Moderate Buy" or "Buy" from Wall Street analysts. The average 12-month price targets from analysts ranged between approximately $230.57 and $246.18, suggesting a potential upside from the stock's trading levels during this period (around $197-$205). For example, a consensus of 12 analysts forecasted an average price target of $246.18, implying a 19.53% upside from a price of $205.95. However, some analyses indicated that AutoNation's trailing 12-month P/E ratio of 10.7x was significantly above its 5-year median of 8.1x, suggesting the stock might be trading at a premium relative to its historical valuation, which could temper aggressive buying despite the positive outlook.
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Stock Movement Drivers
Fundamental Drivers
The 1.4% change in AN stock from 3/31/2026 to 7/20/2026 was primarily driven by a 5.1% change in the company's Net Income Margin (%).| (LTM values as of) | 3312026 | 7202026 | Change |
|---|---|---|---|
| Stock Price ($) | 195.26 | 197.91 | 1.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 27,631 | 27,493 | -0.5% |
| Net Income Margin (%) | 2.3% | 2.5% | 5.1% |
| P/E Multiple | 10.8 | 10.1 | -6.1% |
| Shares Outstanding (Mil) | 36 | 35 | 3.2% |
| Cumulative Contribution | 1.4% |
Market Drivers
3/31/2026 to 7/20/2026| Return | Correlation | |
|---|---|---|
| AN | 1.4% | |
| Market (SPY) | 14.1% | 30.8% |
| Sector (XLY) | 5.2% | 50.2% |
Fundamental Drivers
The -4.2% change in AN stock from 12/31/2025 to 7/20/2026 was primarily driven by a -13.6% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7202026 | Change |
|---|---|---|---|
| Stock Price ($) | 206.48 | 197.91 | -4.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 27,915 | 27,493 | -1.5% |
| Net Income Margin (%) | 2.4% | 2.5% | 4.0% |
| P/E Multiple | 11.7 | 10.1 | -13.6% |
| Shares Outstanding (Mil) | 38 | 35 | 8.4% |
| Cumulative Contribution | -4.2% |
Market Drivers
12/31/2025 to 7/20/2026| Return | Correlation | |
|---|---|---|
| AN | -4.2% | |
| Market (SPY) | 9.1% | 35.8% |
| Sector (XLY) | -3.8% | 47.0% |
Fundamental Drivers
The -0.4% change in AN stock from 6/30/2025 to 7/20/2026 was primarily driven by a -11.5% change in the company's P/E Multiple.| (LTM values as of) | 6302025 | 7202026 | Change |
|---|---|---|---|
| Stock Price ($) | 198.65 | 197.91 | -0.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 26,970 | 27,493 | 1.9% |
| Net Income Margin (%) | 2.5% | 2.5% | -1.7% |
| P/E Multiple | 11.4 | 10.1 | -11.5% |
| Shares Outstanding (Mil) | 39 | 35 | 12.4% |
| Cumulative Contribution | -0.4% |
Market Drivers
6/30/2025 to 7/20/2026| Return | Correlation | |
|---|---|---|
| AN | -0.4% | |
| Market (SPY) | 21.1% | 33.0% |
| Sector (XLY) | 6.1% | 43.3% |
Fundamental Drivers
The 20.2% change in AN stock from 6/30/2023 to 7/20/2026 was primarily driven by a 69.7% change in the company's P/E Multiple.| (LTM values as of) | 6302023 | 7202026 | Change |
|---|---|---|---|
| Stock Price ($) | 164.61 | 197.91 | 20.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 26,631 | 27,493 | 3.2% |
| Net Income Margin (%) | 4.9% | 2.5% | -49.6% |
| P/E Multiple | 6.0 | 10.1 | 69.7% |
| Shares Outstanding (Mil) | 47 | 35 | 36.0% |
| Cumulative Contribution | 20.2% |
Market Drivers
6/30/2023 to 7/20/2026| Return | Correlation | |
|---|---|---|
| AN | 20.2% | |
| Market (SPY) | 73.3% | 49.6% |
| Sector (XLY) | 38.1% | 53.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AN Return | 67% | -8% | 40% | 13% | 22% | -0% | 195% |
| Peers Return | 32% | -18% | 43% | 8% | -18% | 9% | 50% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| AN Win Rate | 58% | 58% | 42% | 50% | 50% | 43% | |
| Peers Win Rate | 60% | 40% | 62% | 47% | 42% | 46% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| AN Max Drawdown | -17% | -28% | -30% | -18% | -20% | -19% | |
| Peers Max Drawdown | -24% | -38% | -23% | -20% | -37% | -28% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CPRT, PAG, LAD, KMX, ABG. See AN Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/20/2026 (YTD)
How Low Can It Go
| Event | AN | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -18.0% | -18.8% |
| % Gain to Breakeven | 22.0% | 23.1% |
| Time to Breakeven | 35 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -16.1% | -9.5% |
| % Gain to Breakeven | 19.2% | 10.5% |
| Time to Breakeven | 110 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -16.2% | -24.5% |
| % Gain to Breakeven | 19.3% | 32.4% |
| Time to Breakeven | 21 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -53.0% | -33.7% |
| % Gain to Breakeven | 112.9% | 50.9% |
| Time to Breakeven | 126 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -17.1% | -19.2% |
| % Gain to Breakeven | 20.6% | 23.8% |
| Time to Breakeven | 123 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -18.0% | -3.7% |
| % Gain to Breakeven | 22.0% | 3.9% |
| Time to Breakeven | 123 days | 6 days |
In The Past
AutoNation's stock fell -18.0% during the 2025 US Tariff Shock. Such a loss loss requires a 22.0% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | AN | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -53.0% | -33.7% |
| % Gain to Breakeven | 112.9% | 50.9% |
| Time to Breakeven | 126 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -31.8% | -12.2% |
| % Gain to Breakeven | 46.7% | 13.9% |
| Time to Breakeven | 727 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -23.4% | -6.8% |
| % Gain to Breakeven | 30.6% | 7.3% |
| Time to Breakeven | 644 days | 15 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -73.1% | -53.4% |
| % Gain to Breakeven | 271.3% | 114.4% |
| Time to Breakeven | 164 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -20.9% | -8.6% |
| % Gain to Breakeven | 26.4% | 9.5% |
| Time to Breakeven | 1044 days | 47 days |
In The Past
AutoNation's stock fell -18.0% during the 2025 US Tariff Shock. Such a loss loss requires a 22.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About AutoNation (AN)
AutoNation, Inc. is a leading automotive retailer in the United States, operating a vast network of dealerships and related automotive businesses. The company primarily focuses on selling new and used vehicles across a diverse range of brands, categorized into Domestic, Import, and Premium Luxury segments. As of late 2021, AutoNation's physical footprint included hundreds of new vehicle franchises, numerous AutoNation-branded collision centers, and dedicated used vehicle stores.
Beyond vehicle sales, AutoNation provides a comprehensive suite of automotive products and services. These include essential automotive repair and maintenance services, wholesale parts distribution, and specialized collision repair through its branded centers. Additionally, the company offers automotive finance and insurance products, assisting customers with vehicle financing through third-party sources and providing various protection plans and services.
AutoNation primarily serves individual consumers across the United States who are looking to purchase vehicles or require automotive maintenance and repair services. The company strategically concentrates its operations in metropolitan markets within the Sunbelt region, leveraging its extensive network of stores to cater to a significant customer base in these high-growth areas. It also serves other businesses through its wholesale parts and auction operations.
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Here are 1-3 brief analogies for AutoNation (AN):
The Best Buy for cars.
The Walmart of car dealerships.
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AutoNation (AN) provides the following major products and services:
- New Vehicle Sales: Sells a variety of new cars and trucks from different manufacturers.
- Used Vehicle Sales: Sells pre-owned cars and trucks to consumers.
- Automotive Repair and Maintenance: Provides services for vehicle upkeep, diagnosis, and mechanical repairs.
- Collision Services: Offers repair services for vehicles damaged in accidents.
- Wholesale Parts Sales: Sells automotive parts, often to other repair shops or businesses.
- Automotive Finance and Insurance Products: Offers vehicle service agreements, protection plans, and facilitates vehicle financing through third-party sources.
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AutoNation, Inc. (AN) primarily sells to individual consumers rather than other companies. Based on the company's description as an "automotive retailer" operating numerous new and used vehicle stores, collision centers, and offering related services and finance products, its major customers are individuals.
The up to three categories of individual customers that AutoNation serves are:
- New Vehicle Purchasers: These are individual consumers seeking to buy brand-new cars, trucks, or SUVs from AutoNation's various franchise dealerships (Domestic, Import, and Premium Luxury brands). These customers are typically looking for the latest models, manufacturer warranties, and specific features.
- Used Vehicle Purchasers: This category includes individual consumers looking to purchase pre-owned cars, trucks, or SUVs. These customers may be budget-conscious, seeking a specific model no longer available new, or aiming to avoid the initial depreciation of a new vehicle. AutoNation's dedicated AutoNation USA used vehicle stores cater specifically to this segment.
- Vehicle Owners Requiring Aftermarket Services and Parts: This segment comprises individual vehicle owners (regardless of where they initially purchased their vehicle) who need automotive repair, routine maintenance, collision services, or genuine replacement parts. AutoNation's service departments and AutoNation-branded collision centers serve these customers.
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Michael Manley, Chief Executive Officer and Director
Michael Manley has served as AutoNation's Chief Executive Officer and a member of its Board of Directors since November 2021. Prior to joining AutoNation, Mr. Manley served as Head of Americas and a member of the Group Executive Council for Stellantis N.V. from January 2021 to October 2021. From July 2018 until January 2021, he was the Chief Executive Officer of Fiat Chrysler Automobiles N.V. (“FCA”), a predecessor to Stellantis N.V. He joined DaimlerChrysler (a predecessor to FCA) in 2000 and held various leadership roles, including CEO of the Jeep and Ram divisions. Mr. Manley began his career as a trainee at car financing company Swan National and also worked at Renault and Peugeot dealerships.
Thomas Szlosek, Executive Vice President and Chief Financial Officer
Thomas Szlosek has been AutoNation's Executive Vice President and Chief Financial Officer since August 2023. He is responsible for overseeing Accounting, Treasury, Tax, Audit, Business Analysis and Planning, Investor Relations, Finance Operations, Procurement, Risk Management, and Real Estate Services. Before AutoNation, Mr. Szlosek served as Executive Vice President and Chief Financial Officer at Avantor Inc. since 2018. He also held the position of Senior Vice President and Chief Financial Officer at Honeywell International for five years, where he executed $8 billion in acquisitions. Mr. Szlosek brings over 30 years of finance leadership experience across various industries, including medical, technology, and manufacturing.
Gianluca Camplone, Chief Operating Officer, AutoNation Parts, and Executive Vice President, Business Development
Gianluca Camplone has served as Chief Operating Officer, AutoNation Parts, and Executive Vice President, Business Development since March 2022. In this role, he is responsible for overseeing the Company's business strategy, corporate development, and Precision Parts teams. Prior to joining AutoNation, Mr. Camplone was a Senior Partner at McKinsey & Company, where he led the Advanced Industries global practice and the Private Equity Industrial practice in North America.
Coleman Edmunds, Executive Vice President, General Counsel and Secretary
Coleman Edmunds has been AutoNation's Executive Vice President, General Counsel and Secretary since April 2017. In this capacity, he is responsible for the company's legal affairs.
Jeff Parent, Chief Operating Officer
Jeff Parent has served as AutoNation's Chief Operating Officer since October 2023, overseeing the company's day-to-day operations. Before this role, Mr. Parent was President and General Manager at Gulf States Toyota and held senior executive positions at Nissan Canada and Volkswagen of America. His extensive background includes a deep understanding of the automotive industry and a track record of innovation and results in both domestic and international markets.
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Economic Conditions and Consumer Affordability
AutoNation's revenue is heavily reliant on vehicle sales, which are significantly influenced by broader economic conditions, consumer confidence, and interest rates. Periods of rising interest rates and elevated vehicle prices can constrain consumer demand, leading to reduced sales volumes and impacting profitability across new and used vehicle segments, as well as associated finance and insurance products.
Competition and Industry Transformation
The automotive retail industry is characterized by intense competition from traditional dealership groups, independent retailers, and an increasing number of digital-first platforms. Furthermore, the evolving landscape includes direct-to-consumer sales models, particularly by electric vehicle (EV) manufacturers, which bypass traditional dealerships. This competitive pressure necessitates ongoing adaptation and investment in digital capabilities to maintain market share.
Cybersecurity Threats
With a growing reliance on digital platforms for sales, data management, and operational processes, AutoNation is increasingly vulnerable to cyberattacks and data breaches. Such incidents can lead to significant financial losses, operational disruptions, and reputational damage. The company has experienced direct impacts from cyber-attacks against third-party dealership software providers, highlighting the ongoing and substantial nature of this risk.
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- The increasing trend of automotive manufacturers adopting direct-to-consumer (DTC) sales models, bypassing traditional franchised dealerships, poses a clear threat to AutoNation's new vehicle sales segment. Manufacturers like Tesla have established this model, and several legacy automakers are exploring or implementing similar strategies, which could fundamentally alter the distribution landscape for new vehicles.
- The accelerating shift towards electric vehicles (EVs) presents an emerging threat to AutoNation's highly profitable parts and services business. EVs have significantly fewer moving parts and require less frequent and less complex maintenance than internal combustion engine vehicles, potentially leading to a decline in demand for traditional repair, maintenance, and wholesale parts services.
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Addressable Markets for AutoNation's Products and Services (U.S.)
- New Vehicle Sales: The addressable market for new vehicle sales in the U.S. is projected to be approximately 15.8 million units in 2026.
- Used Vehicle Sales: The U.S. used car market generated a revenue of approximately $393.79 billion in 2024.
- Automotive Repair and Maintenance Services: The U.S. automotive repair and maintenance service market size was valued at $183.4 billion in 2023.
- Collision Services: The U.S. automotive collision repair market size was valued at $34.73 billion in 2024.
- Automotive Finance Products: The U.S. automotive finance market was valued at $74.33 billion in 2024.
- Automotive Insurance Products: The United States motor insurance market size is projected to be $487.65 billion in 2025.
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AutoNation (AN) is expected to drive future revenue growth over the next two to three years through several key strategies:
- Growth in After-Sales Business (Parts and Services): AutoNation anticipates continued mid-single-digit growth in its after-sales business, a segment that has consistently delivered record gross profits and represents a significant portion of the company's overall gross profit. This high-margin segment is expected to contribute to recurring revenue streams.
- Expansion of AutoNation Finance: The company's captive finance arm, AutoNation Finance, has become profitable in 2025 and is demonstrating substantial growth, with loan originations more than doubling year-over-year. This expansion is converting one-time vehicle sales into predictable, multi-year cash flow streams.
- Growth in Used Vehicle Sales and AutoNation USA Store Expansion: Although the used vehicle market is projected to remain somewhat constrained, it is expected to improve annually. AutoNation is actively expanding its presence in the used-vehicle market with plans to open 66 new AutoNation USA stores by 2029, indicating a strategic focus on this segment.
- Strategic Mergers and Acquisitions (M&A): AutoNation is pursuing strategic acquisitions to enhance its market density and scale. Acquisitions made in the first quarter of 2025 alone contributed approximately $220 million in annualized revenue, demonstrating an inorganic growth strategy.
- Increased Electric Vehicle (EV) Sales and Associated Infrastructure: The company is prioritizing its Electric Vehicle strategy, with EV sales increasing to 18% of revenue in 2025 from 12% in 2024. AutoNation also plans for widespread charging station installation, reflecting an adaptation to evolving market trends and a focus on a growing vehicle segment.
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Share Repurchases
- AutoNation repurchased $791.6 million in shares in 2025, $460 million in 2024, and $874.4 million in 2023.
- For the full year 2025, AutoNation repurchased 4.1 million shares for an aggregate purchase price of $785 million.
- As of February 4, 2026, AutoNation had $968 million of repurchase authorization remaining under its current share repurchase program. The Board of Directors authorized an additional $1 billion for share repurchases on October 31, 2025, bringing the total remaining authorization to approximately $1.28 billion as of that date.
Outbound Investments
- In 2023, AutoNation acquired RepairSmith, a mobile solution for automotive repair and maintenance, which was subsequently renamed AutoNation Mobile Service.
- AutoNation acquired CIG Financial in 2023, renaming it AutoNation Finance to enhance its captive auto finance capabilities.
- The company deploys capital for acquisitions to improve density in existing markets and plans to continue expanding its footprint through acquisitions and new store openings.
Capital Expenditures
- Capital expenditures were $309.40 million in the last 12 months (as of February 2026), $301 million in 2025, and $329 million in 2024.
- Expected capital expenditures are $324.8 million for 2026 and $385 million for 2027.
- The primary focus of capital expenditures includes investments in new facilities for existing franchises and AutoNation USA used vehicle stores, as well as strategic and technology initiatives aimed at supporting long-term growth and enhancing digital retailing tools.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 196.70 |
| Mkt Cap | 7.8 |
| Rev LTM | 26,687 |
| Op Inc LTM | 1,266 |
| FCF LTM | 569 |
| FCF 3Y Avg | 419 |
| CFO LTM | 836 |
| CFO 3Y Avg | 780 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.5% |
| Rev Chg 3Y Avg | 5.3% |
| Rev Chg Q | -0.9% |
| QoQ Delta Rev Chg LTM | -0.2% |
| Op Inc Chg LTM | -5.5% |
| Op Inc Chg 3Y Avg | -7.9% |
| Op Mgn LTM | 4.3% |
| Op Mgn 3Y Avg | 4.6% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 3.6% |
| CFO/Rev 3Y Avg | 3.5% |
| FCF/Rev LTM | 2.4% |
| FCF/Rev 3Y Avg | 2.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 7.8 |
| P/S | 0.3 |
| P/Op Inc | 5.4 |
| P/EBIT | 5.6 |
| P/E | 12.3 |
| P/CFO | 9.7 |
| Total Yield | 9.6% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 5.0% |
| D/E | 1.4 |
| Net D/E | 1.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 5.7% |
| 3M Rtn | 5.8% |
| 6M Rtn | -4.8% |
| 12M Rtn | -4.0% |
| 3Y Rtn | 0.8% |
| 1M Excs Rtn | 10.4% |
| 3M Excs Rtn | 2.8% |
| 6M Excs Rtn | -11.9% |
| 12M Excs Rtn | -22.0% |
| 3Y Excs Rtn | -70.8% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Premium Luxury | 10,334 | 10,140 | 10,266 | 10,278 | 9,230 |
| Import | 8,423 | 8,157 | 7,881 | 7,690 | 7,798 |
| Domestic | 7,474 | 7,140 | 7,573 | 7,988 | 7,960 |
| Corporate and other | 1,400 | 1,328 | 1,228 | 1,029 | 856 |
| Total | 27,631 | 26,765 | 26,949 | 26,985 | 25,844 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Premium Luxury | 890 | 984 | 846 | 500 | 428 |
| Import | 656 | 739 | 720 | 399 | 349 |
| Domestic | 473 | 580 | 604 | 379 | 309 |
| Corporate and other | -368 | -278 | -267 | -715 | -264 |
| Total | 1,652 | 2,024 | 1,903 | 563 | 824 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Corporate and other | 4,026 | 3,864 | 3,500 | 3,533 | 3,092 |
| Premium Luxury | 3,611 | 3,696 | 3,507 | 2,997 | 2,669 |
| Domestic | 2,360 | 2,298 | 2,508 | 1,974 | 1,758 |
| Import | 2,209 | 2,030 | 2,035 | 1,556 | 1,424 |
| AutoNation Finance | 2,186 | 1,114 | 430 | ||
| Total | 14,392 | 13,002 | 11,980 | 10,060 | 8,944 |
Price Behavior
| Market Price | $197.91 | |
| Market Cap ($ Bil) | 6.9 | |
| First Trading Date | 03/03/1992 | |
| Distance from 52W High | -12.9% | |
| 50 Days | 200 Days | |
| DMA Price | $191.97 | $201.36 |
| DMA Trend | down | down |
| Distance from DMA | 3.1% | -1.7% |
| 3M | 1YR | |
| Volatility | 31.9% | 28.5% |
| Downside Capture | 91.89 | 79.14 |
| Upside Capture | 46.78 | 63.21 |
| Correlation (SPY) | 27.7% | 33.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.08 | 0.47 | 0.63 | 0.74 | 0.73 | 1.02 |
| Up Beta | 0.29 | 0.93 | 0.88 | 1.35 | 1.10 | 1.18 |
| Down Beta | 1.14 | 0.68 | 0.89 | 0.58 | 0.60 | 0.72 |
| Up Capture | -40% | -23% | 18% | 32% | 41% | 100% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 9 | 18 | 31 | 62 | 130 | 389 |
| Down Capture | -28% | 76% | 71% | 82% | 83% | 103% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 12 | 23 | 32 | 62 | 120 | 360 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AN | |
|---|---|---|---|---|
| AN | 0.8% | 28.4% | 0.02 | - |
| Sector ETF (XLY) | 4.7% | 18.7% | 0.11 | 43.2% |
| Equity (SPY) | 19.2% | 12.6% | 1.12 | 33.6% |
| Gold (GLD) | 19.6% | 28.0% | 0.63 | 12.2% |
| Commodities (DBC) | 29.7% | 19.0% | 1.24 | -19.1% |
| Real Estate (VNQ) | 15.2% | 14.0% | 0.78 | 34.8% |
| Bitcoin (BTCUSD) | -46.6% | 42.9% | -1.34 | 22.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AN | |
|---|---|---|---|---|
| AN | 13.4% | 36.0% | 0.43 | - |
| Sector ETF (XLY) | 5.3% | 23.9% | 0.18 | 50.2% |
| Equity (SPY) | 12.6% | 17.1% | 0.57 | 47.0% |
| Gold (GLD) | 16.8% | 18.4% | 0.74 | 4.0% |
| Commodities (DBC) | 8.8% | 19.5% | 0.34 | 8.1% |
| Real Estate (VNQ) | 2.6% | 18.9% | 0.04 | 42.4% |
| Bitcoin (BTCUSD) | 14.0% | 53.5% | 0.44 | 19.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AN | |
|---|---|---|---|---|
| AN | 14.6% | 37.0% | 0.48 | - |
| Sector ETF (XLY) | 12.2% | 22.1% | 0.50 | 51.9% |
| Equity (SPY) | 15.1% | 17.9% | 0.72 | 49.4% |
| Gold (GLD) | 10.9% | 16.1% | 0.55 | 2.7% |
| Commodities (DBC) | 7.0% | 17.9% | 0.31 | 18.1% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 46.8% |
| Bitcoin (BTCUSD) | 57.9% | 66.2% | 0.98 | 14.8% |
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Returns Analyses
Earnings Returns History
Updated 6/4/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/1/2026 | -1.1% | -3.3% | -11.0% |
| 2/6/2026 | 6.2% | 1.3% | -5.1% |
| 10/23/2025 | -3.6% | -9.2% | -8.4% |
| 7/25/2025 | 1.5% | -3.8% | 9.3% |
| 4/25/2025 | 1.0% | 1.0% | 5.1% |
| 2/11/2025 | 1.3% | 0.4% | -14.2% |
| 10/25/2024 | -4.5% | -4.7% | 5.7% |
| 7/31/2024 | 6.3% | -7.1% | -0.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 15 |
| # Negative | 10 | 12 | 9 |
| Median Positive | 3.2% | 3.3% | 5.8% |
| Median Negative | -4.0% | -6.4% | -8.4% |
| Max Positive | 11.4% | 13.8% | 19.3% |
| Max Negative | -12.3% | -11.6% | -14.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/1/2026 | -1.1% | -3.3% | -11.0% |
| 2/6/2026 | 6.2% | 1.3% | -5.1% |
| 10/23/2025 | -3.6% | -9.2% | -8.4% |
| 7/25/2025 | 1.5% | -3.8% | 9.3% |
| 4/25/2025 | 1.0% | 1.0% | 5.1% |
| 2/11/2025 | 1.3% | 0.4% | -14.2% |
| 10/25/2024 | -4.5% | -4.7% | 5.7% |
| 7/31/2024 | 6.3% | -7.1% | -0.9% |
| 4/26/2024 | 5.9% | 1.8% | 5.8% |
| 2/13/2024 | -3.9% | -10.1% | 0.1% |
| 10/27/2023 | 0.1% | 3.6% | 0.2% |
| 7/21/2023 | -12.3% | -11.6% | -10.7% |
| 4/20/2023 | -4.1% | -5.8% | -0.2% |
| 2/17/2023 | 11.4% | -1.4% | -9.8% |
| 10/27/2022 | 2.7% | 3.8% | 17.4% |
| 7/21/2022 | -5.4% | -7.8% | 3.7% |
| 4/21/2022 | -3.6% | 7.8% | 3.9% |
| 2/17/2022 | -3.8% | -4.2% | 6.6% |
| 10/21/2021 | 7.7% | 2.9% | 3.3% |
| 7/19/2021 | 3.6% | 13.8% | 19.3% |
| 4/20/2021 | -4.4% | 4.0% | 6.1% |
| 2/16/2021 | 1.3% | 0.3% | 14.2% |
| 10/21/2020 | 1.9% | -8.2% | -2.1% |
| 7/23/2020 | 7.6% | 10.8% | 19.1% |
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 15 |
| # Negative | 10 | 12 | 9 |
| Median Positive | 3.2% | 3.3% | 5.8% |
| Median Negative | -4.0% | -6.4% | -8.4% |
| Max Positive | 11.4% | 13.8% | 19.3% |
| Max Negative | -12.3% | -11.6% | -14.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 10/23/2025 | 10-Q |
| 06/30/2025 | 07/25/2025 | 10-Q |
| 03/31/2025 | 04/25/2025 | 10-Q |
| 12/31/2024 | 02/14/2025 | 10-K |
| 09/30/2024 | 10/25/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/16/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/21/2023 | 10-Q |
| 03/31/2023 | 04/20/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 07/21/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 10/23/2025 | 10-Q |
| 06/30/2025 | 07/25/2025 | 10-Q |
| 03/31/2025 | 04/25/2025 | 10-Q |
| 12/31/2024 | 02/14/2025 | 10-K |
| 09/30/2024 | 10/25/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/16/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/21/2023 | 10-Q |
| 03/31/2023 | 04/20/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 07/21/2022 | 10-Q |
| 03/31/2022 | 04/21/2022 | 10-Q |
| 12/31/2021 | 02/17/2022 | 10-K |
| 09/30/2021 | 10/21/2021 | 10-Q |
| 06/30/2021 | 07/21/2021 | 10-Q |
| 03/31/2021 | 04/22/2021 | 10-Q |
| 12/31/2020 | 02/16/2021 | 10-K |
| 09/30/2020 | 10/21/2020 | 10-Q |
| 06/30/2020 | 07/23/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 02/18/2020 | 10-K |
| 09/30/2019 | 10/30/2019 | 10-Q |
| 06/30/2019 | 07/23/2019 | 10-Q |
Investor Activity (13F)
Updated Jul 21, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Automotive Retail Resources |
| Automotive News |
| Ward's Auto |
| CBT News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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