TakeoverPE & activists

PAGPENSKE AUTOMOTIVE GROUP, INC.

Retail-Auto Dealers & Gasoline Stations · $13.9B market cap · 27,700 employees

0.6×

Less likely than average to be taken private

Top 32% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

1of 15 firedHow well they predict deals →
14 other checks
  • 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
    104% of net income
    Cash flow under 80% of net income
  • Dilutive SBCNo
    0% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    52% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    15% of assets
    Over 40% of assets
  • Shareholder dissentNo
    97% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    $1M · 75th pct
    Bottom quartile of its SIC industry
  • Quiet on AINo
    0.7 per 10K words · 26th pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    1.6× EBITDA net debt
    More cash than debt, positive EBITDA
  • Buyout-sizedNo
    $13.9B market cap
    Market cap $500M–$5B
  • Recurring revenueNo
    3 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    1 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Net insider sellingNo
    −$832K net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Oct 15, 20268-KPenske Corporation and Mitsui & Co., Ltd. (via Motown Acquisition Corp.)——

Key numbers

Revenue
$31.8BFY2021: $25.6BFY2022: $27.8BFY2023: $30.9BFY2024: $31.9BFY2025: $31.8B
0.2% YoY
Operating margin
4.0%FY2021: 5.3%FY2022: 5.3%FY2023: 4.6%FY2024: 4.3%FY2025: 4.0%
6.4% YoY
EBITDA
$1.5BFY2021: $1.5BFY2022: $1.6BFY2023: $1.6BFY2024: $1.5BFY2025: $1.5B
5.1% YoY
Net debt / EBITDA
1.6×
$2.3B net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$25.6B$27.8B$30.9B$31.9B$31.8B 0.2% FY2021: $25.6BFY2022: $27.8BFY2023: $30.9BFY2024: $31.9BFY2025: $31.8B
Operating income$1.4B$1.5B$1.4B$1.4B$1.3B 6.5% FY2021: $1.4BFY2022: $1.5BFY2023: $1.4BFY2024: $1.4BFY2025: $1.3B
Net income$1.2B$1.4B$1.1B$969M$935M 3.5% FY2021: $1.2BFY2022: $1.4BFY2023: $1.1BFY2024: $969MFY2025: $935M
Operating cash flow$1.3B$1.5B$1.1B$1.2B$975M 21% FY2021: $1.3BFY2022: $1.5BFY2023: $1.1BFY2024: $1.2BFY2025: $975M
Capex$249M$283M$386M$378M$325M 14% FY2021: $249MFY2022: $283MFY2023: $386MFY2024: $378MFY2025: $325M
Stock-based comp$23M$27M$28M$29M$30M 2.7% FY2021: $23MFY2022: $27MFY2023: $28MFY2024: $29MFY2025: $30M
Buybacks$281M$869M$359M$59M$159M 171% FY2021: $281MFY2022: $869MFY2023: $359MFY2024: $59MFY2025: $159M
Dividends$143M$154M$189M$274M$344M 25% FY2021: $143MFY2022: $154MFY2023: $189MFY2024: $274MFY2025: $344M

13D filers

FiledFilerFormStakeIntent
Oct 15, 2026PENSKE ROGER SSCHEDULE 13D/A52.3%Active
Oct 15, 2026MITSUI & CO LTDSCHEDULE 13D/A20.3%Active
Jul 22, 2026MITSUI & CO LTDSCHEDULE 13D/A20.3%Active
Jul 22, 2026PENSKE ROGER SSCHEDULE 13D/A52.2%Active
Jun 27, 2025MITSUI & CO LTDSCHEDULE 13D/A20.1%Passive
Jan 24, 2024PENSKE ROGER SSC 13D/A51.4%Passive
Dec 8, 2023PENSKE ROGER SSC 13D/A51.3%Passive
Dec 21, 2021MITSUI & CO LTDSC 13D/A17.0%Passive
Mar 1, 2019MITSUI & CO LTDSC 13D/A15.7%Passive

Insider trading

−$832Knet selling by insiders, open market, last 12 months
Bought $0 · 0 tradesSold $832K · 3 trades

Pay vs performance

No pay-versus-performance disclosure yet.