ABGASBURY AUTOMOTIVE GROUP INC

Retail-Auto Dealers & Gasoline Stations

Revenue: $18.0B; 4.7% YoY
Operating margin: 4.8%; 1.6% YoY
EBITDA: $943M; 3.6% YoY
Market cap: $3.6B
Employees: —
Net debt / EBITDA: 3.1×; $2.9B net debt
AI in 10-K: 0.2; mentions per 10K words

Takeover score 2 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
158% of net income
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
2% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
20% of assets
Over 40% of assets
Shareholder dissentNo
97% lowest support
Any vote under 80% support

Buyer economics 2 of 4

Low revenue per employeeNo
—
Bottom quartile of its SIC industry
Quiet on AIYes
0.2 per 10K words · 14th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
3.1× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedYes
$3.6B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
$653K net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$9.8B	$15.4B	$14.8B	$17.2B	$18.0B	4.7%
Operating income	$792M	$1.3B	$954M	$836M	$861M	3.0%
Net income	$532M	$997M	$603M	$430M	$492M	14%
Operating cash flow	$1.2B	$696M	$313M	$671M	$775M	15%
Capex	$74M	$95M	$142M	—	—
Stock-based comp	$16M	$21M	$24M	$27M	$28M	3.7%
Buybacks	$10M	$9M	$11M	$10M	$13M	25%

Deal filings

None.

13D filers

Filed	Filer	Form	Stake	Intent
Jul 13, 2026	Impactive Capital LP	SCHEDULE 13D/A	4.8%	Passive
Jun 24, 2025	Impactive Capital LP	SCHEDULE 13D/A	6.3%	Passive
Jan 17, 2025	Impactive Capital LP	SCHEDULE 13D/A	7.6%	Passive
Sep 30, 2022	Impactive Capital LP	SC 13D/A	9.9%	Passive
Apr 8, 2022	Impactive Capital LP	SC 13D/A	8.6%	Passive
Feb 2, 2022	Impactive Capital LP	SC 13D/A	7.2%	Passive
Jul 9, 2021	Impactive Capital LP	SC 13D	5.0%	Passive

Insider trading

Open-market buys, 12 mo: $1M · 4
Open-market sells, 12 mo: $504K · 2
Net: $653K

Pay vs performance

No pay-versus-performance disclosure yet.