AutoNation, Inc.
- Open
- 192.97
- Day high
- 201.24
- Day low
- 192.97
- Prev close
- 192.31
- Volume
- 354K
- Mkt cap
- $6.6B
- P/E (TTM)
- 10.5
- EPS (TTM)
- $18.63
- P/B
- 2.9
- P/S
- 0.2
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$512K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions reducing (13F)
AutoNation, Inc. (AN) is a Consumer Cyclical company listed on NYSE. The stock is down 10% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4). Drillr has 4 published research articles covering AN.
AutoNation, Inc. (AN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 1, 2026 | $4.71 | $4.69 | -0.4% | $6.6B | -1.4% |
| Feb 6, 2026 | $4.91 | $5.08 | +3.5% | $6.9B | +0.9% |
| Oct 23, 2025 | $4.85 | $5.01 | +3.3% | $7.0B | -2.7% |
| Jul 25, 2025 | $4.70 | $5.46 | +16.2% | $7.0B | +4.5% |
| Apr 25, 2025 | $4.42 | $4.68 | +5.9% | $6.7B | +0.7% |
| Oct 25, 2024 | $4.38 | $4.02 | -8.2% | $6.6B | -1.5% |
| Jul 31, 2024 | $4.34 | $3.99 | -8.1% | $6.5B | -3.6% |
| Apr 26, 2024 | $4.27 | $4.49 | +5.2% | $6.5B | -0.1% |
| Feb 13, 2024 | $4.95 | $5.02 | +1.4% | $6.8B | +1.1% |
| Oct 27, 2023 | $5.49 | $5.54 | +0.9% | $6.9B | +2.5% |
| Jul 21, 2023 | $5.91 | $6.29 | +6.4% | $6.9B | +1.6% |
| Apr 20, 2023 | $5.74 | $6.07 | +5.7% | $6.4B | -3.2% |
AN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 7, 2026 | DEES KIMBERLYofficer: SVP & CAO | Sell | 2,500 | $204.91 |
| Jan 30, 2026 | CAMPLONE GIANLUCAofficer: COO, AN Parts & EVP, Bus Dev | Grant | 16,742 | — |
| Jan 30, 2026 | Szlosek Thomas Aofficer: EVP & CFO | Tax | 4,841 | $215.93 |
| Jan 30, 2026 | PARENT JEFFofficer: COO | Tax | 1,006 | $215.93 |
| Jan 30, 2026 | Szlosek Thomas Aofficer: EVP & CFO | Grant | 12,234 | — |
| Jan 30, 2026 | DEES KIMBERLYofficer: SVP & CAO | Grant | 3,346 | — |
| Jan 30, 2026 | PARENT JEFFofficer: COO | Grant | 2,485 | — |
| Jan 30, 2026 | CAMPLONE GIANLUCAofficer: COO, AN Parts & EVP, Bus Dev | Tax | 6,617 | $215.93 |
| Jan 30, 2026 | DEES KIMBERLYofficer: SVP & CAO | Tax | 1,354 | $215.93 |
| Jan 30, 2026 | EDMUNDS C COLEMANofficer: EVP, Gen Counsel & Corp Sec | Tax | 4,642 | $215.93 |
| Jan 30, 2026 | Manley Michael Markdirector, officer: CEO and Director | Grant | 60,277 | — |
| Jan 30, 2026 | Manley Michael Markdirector, officer: CEO and Director | Tax | 23,734 | $215.93 |
| Jan 30, 2026 | EDMUNDS C COLEMANofficer: EVP, Gen Counsel & Corp Sec | Grant | 11,719 | — |
| Jan 6, 2026 | Bennett Claire M.director | Grant | 1,210 | — |
| Jan 6, 2026 | Mikan George Lawrence IIIdirector | Grant | 1,210 | — |
Source: AN SEC Form 4 filings, latest May 7, 2026. For informational purposes only — not investment advice.
See the full AN insider & 13F page →AN research & analysis
Is CarMax's $150M SG&A target enough to close the margin gap with AutoNation and Lithia?
CarMax's $150M SG&A savings target would close the overhead efficiency gap with franchised peers like AutoNation and Lithia on a gross-profit-absorption basis, but would only narrow the operating margin gap by about one-third. The remaining shortfall stems from CarMax's structurally lower gross margins inherent to its pure used-car model.
KMXLADGPIWill CarMax's new CEO accelerate share buybacks given the stock is down 41% in 12 months?
CarMax has aggressively accelerated share buybacks from $94M in FY2024 to $589M through three quarters of FY2026, while the stock trades near book value at $42.50 after a 41% decline. With $1.74 billion in remaining authorization and strong free cash flow, the incoming permanent CEO will face a compelling valuation case for further acceleration, though elevated debt levels and operational turnaround needs may temper the pace.
KMXLADCan Starboard squeeze meaningful margin from CarMax's 2.5% EBIT margin without disrupting the omnichannel pivot?
Starboard Value has nominated two directors to CarMax's board, targeting the company's 2.5% EBIT margin that trails peers AutoNation (4.5%) and Lithia (4.1%) by 160-200 basis points. The activist's cost-cutting playbook faces a core tension: CarMax's $150M SG&A savings initiative may not close the margin gap, but deeper cuts risk undermining the omnichannel platform that differentiates the company from both franchise dealers and Carvana.
KMXCVNALADIf Starboard Wins Board Seats at CarMax, Which Operational Levers Gets Pulled First?
Starboard Value's proxy contest at CarMax targets a business where operating margins have compressed from 4.7% to 2.8%, ROIC sits at just 3.1% versus peers at 7-10%, and SG&A has ballooned to 8.6% of revenue. If Starboard wins board seats, the most immediate operational levers are SG&A reduction (estimated $300M+ opportunity), inventory velocity improvement, CarMax Auto Finance balance-sheet optimization, and potential store footprint rationalization. The peer comparison to AutoNation and Lithia Motors provides a clear benchmark for what disciplined capital allocation and cost control can achieve.
KMXLAD
AutoNation, Inc. company profile
Overview
AutoNation, Inc. (NYSE:AN) is the largest automotive retailer in the United States, founded in 1991 and headquartered in Fort Lauderdale, Florida. The company went public in 1990 and has grown through strategic acquisitions to become a dominant force in automotive retail, operating hundreds of dealerships across major metropolitan markets primarily in the Sunbelt region. AutoNation has evolved from a traditional car dealership network into a comprehensive automotive services provider, offering new and used vehicle sales, financing, parts, service, and collision repair through multiple business segments and brands.
Business
AutoNation operates in the automotive retail industry, functioning as an intermediary between vehicle manufacturers and consumers. The company's business is organized into three primary segments based on vehicle brands: Domestic (representing brands like Ford, Chevrolet, and Chrysler), Import (including Toyota, Honda, and Nissan), and Premium Luxury (featuring Mercedes-Benz, BMW, Audi, and Lexus). The automotive retail industry involves selling new vehicles on behalf of manufacturers through franchised dealerships, where retailers like AutoNation hold exclusive agreements to sell specific brands in designated geographic territories. Beyond vehicle sales, the industry encompasses a comprehensive ecosystem of related services including financing, insurance, parts, maintenance, and collision repair. AutoNation's core offerings include: 1. New Vehicle Sales: The company operates 339 new vehicle franchises across 247 stores, selling vehicles from major automotive manufacturers. This segment generates the highest revenue but typically operates on relatively thin margins due to manufacturer pricing controls and competitive pressures. 2. Used Vehicle Sales: AutoNation sells pre-owned vehicles both through its franchise locations and dedicated AutoNation USA stores (9 locations). The used vehicle market offers higher profit margins but faces challenges from online competitors and market volatility. 3. After-Sales Services: This includes parts sales, automotive repair and maintenance, and collision services through 57 AutoNation-branded collision centers. The after-sales segment represents over 50% of total gross profits despite being a smaller portion of revenue, making it the most profitable segment. 4. Customer Financial Services (CFS): AutoNation arranges financing for vehicle purchases through third-party lenders and also operates its own financing arm, AutoNation Finance, which originated $1.1 billion in loans in 2024. The company also sells extended warranties, insurance products, and other protection services. 5. Additional Operations: The company operates 4 automotive auction facilities, 3 parts distribution centers, and has expanded into mobile automotive services through its RepairSmith acquisition.
Revenue model
AutoNation generates revenue through multiple complementary business models. Product sales from new and used vehicles constitute the largest revenue stream, with the company earning the difference between wholesale and retail prices. However, vehicle sales operate on relatively low margins, particularly for new vehicles where manufacturer pricing significantly constrains profitability. The company's most profitable revenue stream comes from service fees in the after-sales segment, where AutoNation charges customers for parts, labor, and maintenance services. This segment benefits from higher margins because customers have fewer alternatives for specialized automotive services, and the company can leverage its expertise and parts inventory. Commission and financing fees represent another significant revenue source through the Customer Financial Services segment. AutoNation earns commissions by arranging financing through third-party lenders and generates interest income through its proprietary AutoNation Finance division. The company also earns commissions on insurance products, extended warranties, and other protection services sold to customers. Several factors influence AutoNation's profitability margins. Positive margin drivers include: strong consumer demand for vehicles, particularly in the premium luxury segment which offers higher per-unit profits; increased penetration of higher-margin services like financing and after-sales; operational efficiency improvements; and the company's scale advantages in purchasing and operations. The after-sales business benefits from an aging vehicle fleet, as older vehicles require more maintenance and repairs. Negative margin pressures include: intense competition from other dealerships and online retailers; manufacturer pricing controls that limit new vehicle profitability; economic downturns that reduce consumer spending on vehicles; rising interest rates that make vehicle financing more expensive; supply chain disruptions that affect inventory availability; and increasing labor costs, particularly for skilled technicians. The company also faces pressure from electric vehicle adoption, which may reduce long-term after-sales service demand due to EVs requiring less maintenance than traditional combustion engines.
Competitive moat
AutoNation's competitive moat is moderate but faces increasing challenges from industry disruption. The company's primary moat stems from its franchise agreements with major automotive manufacturers, which provide exclusive territorial rights to sell specific brands. These agreements create legal barriers to entry and ensure a steady supply of new vehicles, but they also limit AutoNation's pricing flexibility and strategic autonomy. The company benefits from scale advantages as the largest automotive retailer in the United States, enabling better negotiating power with manufacturers, more efficient operations, and the ability to invest in technology and infrastructure that smaller competitors cannot match. AutoNation's geographic concentration in high-growth Sunbelt markets provides demographic tailwinds, and its comprehensive service offerings create customer stickiness through multiple touchpoints. However, AutoNation's moat faces significant competitive threats. Online vehicle sales platforms like Carvana, Vroom, and direct-to-consumer sales by manufacturers (particularly Tesla) are disrupting traditional dealership models. Electric vehicle manufacturers are increasingly bypassing traditional dealerships entirely, potentially reducing the value of franchise agreements. The rise of online parts retailers and independent service providers threatens the after-sales business, while alternative financing options reduce dependence on dealership financing. Additionally, regulatory changes could weaken dealer franchise protections, and changing consumer preferences toward mobility services rather than vehicle ownership could fundamentally alter the industry. The company's heavy reliance on manufacturer relationships also creates vulnerability to changes in those partnerships or manufacturer strategies. While AutoNation has responded by investing in digital capabilities, expanding service offerings, and developing its own financing platform, the automotive retail industry is experiencing structural changes that may permanently erode traditional dealership advantages. The company's moat is best described as a legacy competitive position that provides near-term protection but faces long-term secular challenges.
Risks & safety
AutoNation presents a moderate margin of safety with some concerning liquidity metrics but reasonable valuation levels. • Liquidity and Solvency Concerns: Current ratio of 0.77 indicates potential short-term liquidity pressure, with current liabilities exceeding current assets. Quick ratio of 0.22 shows limited liquid assets to cover immediate obligations. However, this is partially mitigated by the nature of automotive retail, where inventory financing is typically structured as floor plan arrangements. • Debt and Leverage: Debt-to-equity ratio of 3.76 appears high but is typical for automotive retailers due to inventory financing structures. The company maintains investment-grade credit ratings and leverage at 2.56x EBITDA, which is manageable for the industry. • Cash Flow Volatility: Free cash flow has been negative in recent quarters (-$127.7 million in Q1 2025, -$151 million in Q3 2024) due to inventory investments, though full-year 2024 showed positive operating cash flow of $314.7 million. • Valuation Metrics: P/E ratio of 9.0 and EV/EBITDA of 9.6 suggest reasonable valuation relative to earnings. Price-to-book ratio of 2.6 is elevated but reflects the company's asset-light franchise model. • Other Considerations: Strong market position, diversified revenue streams, and consistent profitability provide some downside protection, though cyclical industry exposure and secular headwinds create ongoing risks.
Recent development
Over the past few years, AutoNation has pursued several strategic initiatives to adapt to industry changes and enhance profitability. The company's most significant development has been the launch and rapid growth of AutoNation Finance, its proprietary lending platform. Starting from minimal operations, AutoNation Finance originated $1.1 billion in loans in 2024, achieving profitability ahead of schedule and reaching 12% penetration of the company's franchise store financing volume. The company is preparing to launch an asset-backed securities (ABS) funding program to reduce its equity funding requirements and improve capital efficiency. AutoNation has also focused heavily on expanding its after-sales business, which now represents over 50% of total gross profits. The company has invested in technician recruitment and retention, expanded mobile service capabilities through its RepairSmith acquisition, and developed e-commerce platforms for parts sales. This segment has shown consistent growth, with same-store gross profit increases in recent quarters. The company has pursued strategic portfolio optimization by divesting underperforming stores while acquiring complementary businesses. In recent years, AutoNation sold 8 underperforming locations and acquired stores in strategic markets like Colorado. The company has also expanded its AutoNation USA used vehicle stores and collision center network. Digital transformation initiatives have been another key focus, with investments in customer relationship management systems, inventory management platforms, and online sales capabilities. The company experienced significant challenges during the CDK systems outage in 2024, which cost approximately $1.55 per share, highlighting the importance of robust digital infrastructure. AutoNation has maintained an aggressive capital return strategy, repurchasing $460 million in shares during 2024 and consistently returning capital to shareholders through buybacks. The company has also maintained its investment-grade balance sheet while funding growth initiatives and weathering industry challenges.
AN company profile · for informational purposes only — not investment advice.
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