At a glance
AutoNation Inc is worth $5.25B, about 10 times its fiscal 2025 earnings. Revenue grew 3.2% to $27.63B in fiscal 2025, with 2.3% kept as profit; over 5 years it has grown 6.3% a year. It pays no dividend; it spent $6.14B buying back its shares over FY2021–FY2025. The stock returned −16.8% over the past year with dividends reinvested and +6.3% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 53.6% in the 2020 crash (S&P 500: 33.7%) and 23.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months after the low.
The business in plain English
AutoNation is one of the largest car dealership groups in the United States. As of December 31, 2025, it owned 323 new-vehicle franchises (agreements with carmakers to retail their new models) at 245 stores, mostly in large Sunbelt cities. It offers 30 new-vehicle brands. Toyota (with Lexus), Honda, Ford, General Motors, BMW, Mercedes-Benz, Stellantis and Volkswagen (with Audi and Porsche) made up about 89% of new vehicles sold in 2025. It also runs 26 AutoNation USA used-car stores, 52 collision centers, 4 auctions and 3 parts distribution centers.
Revenue was $27.6 billion in 2025. New vehicles brought in 48.9%, used vehicles 28.3%, parts and service 17.5%, and finance and insurance 5.3%. That last line comes from arranging car loans through outside lenders, plus extended service contracts and other protection products. Margins are thin: net profit was 2.3% of revenue. The company says its parts and service work earns higher margins and has historically held up better than car sales when the economy weakens.
By segment, Premium Luxury stores produced 37.4% of 2025 revenue, Import stores 30.5% and Domestic stores 27.1%. A fourth segment, AutoNation Finance, is its in-house ("captive") lender, which makes loans to qualified customers on vehicles from its stores. The company also holds minority stakes in Waymo, Alphabet's self-driving unit, and TrueCar, an online car marketplace.
Price history
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AN -16.8% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| New Vehicle | $13.50B | 48.9% |
| Used Vehicle | $7.81B | 28.3% |
| Parts and Service | $4.84B | 17.5% |
| Finance and Insurance, Net | $1.46B | 5.3% |
| Product and Service, Other | $16.3M | 0.1% |
By business segment
| AN Reportable Segment, Premium Luxury | $10.33B | 37.4% |
| AN Reportable Segment, Import | $8.42B | 30.5% |
| AN Reportable Segment, Domestic | $7.47B | 27.1% |
| Corporate Segment and Other Operating Segment | $1.40B | 5.1% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $7.01B, down 0.4% from a year earlier, and net income was $162.3M (-24.5%).
- For fiscal 2025, revenue was $27.63B (+3.2% year over year; +6.3% a year from FY2020 to FY2025) with a 2.3% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +6.3% good |
|---|---|
| Operating margin | 4.5% weak |
| Free cash flow margin | -0.7% weak |
| Return on equity (FY2025) | 27.7% good |
| Return on assets (FY2025) | 4.5% watch |
| Net cash (cash minus debt) | $-3.93B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $20.39B | $381.6M | $1.05B |
| FY2021 | $25.84B | $1.37B | $1.41B |
| FY2022 | $26.98B | $1.38B | $1.34B |
| FY2023 | $26.95B | $1.02B | $313.7M |
| FY2024 | $26.77B | $692.2M | $-13.8M |
| FY2025 | $27.63B | $649.1M | $-197.5M |
Valuation snapshot
| Market value | $5.25B |
|---|---|
| P/E ratio | 9.6 |
| Dividend yield | 0% |
Rank among 1514 US companies
Market value at each year end
AutoNation’s market value went from $4.92B at the end of 2016 to $5.25B on Oct 28, 2026, up 7%; since the end of 2025 it is down 30%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $5.25B | -30.3% |
| 2025 | $7.53B | +11.8% |
| 2024 | $6.73B | +5.4% |
| 2023 | $6.39B | +20.1% |
| 2022 | $5.32B | -30.5% |
| 2021 | $7.66B | +24.9% |
| 2020 | $6.13B | +41.3% |
| 2019 | $4.34B | +35.1% |
| 2018 | $3.21B | -31.5% |
| 2017 | $4.68B | -4.7% |
| 2016 | $4.92B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| AN price data to Oct 28, 2026 | -20.5% | -16.8% | +7.9% | +6.3% | +14.0% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -20.5% |
| 2025 | +21.6% |
| 2024 | +13.1% |
| 2023 | +40.0% |
| 2022 | -8.2% |
| 2021 | +67.4% |
| 2020 | +43.5% |
| 2019 | +36.2% |
| 2018 | -30.4% |
| 2017 | +5.5% |
| 2016 | -18.4% |
| 2015 | -1.2% |
| 2014 | +21.6% |
| 2013 | +25.2% |
| 2012 | +7.7% |
| 2011 | +30.7% |
| 2010 | +47.3% |
| 2009 | +93.8% |
| 2008 | -36.9% |
| 2007 | -26.6% |
| 2006 | -1.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 43.1% over that stretch · deepest drop along the way 77%, back to its old high 8.7 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 43.8% over that stretch · deepest drop along the way 53.6%, back to its old high 4.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 8.3% over that stretch · deepest drop along the way 23.9%, back to its old high 4.1 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 2 sales ($710K).
| Date | Insider | Type | Value |
|---|---|---|---|
| May 5, 2026 | Kimberly Dees SVP & CAO | sell | $512K |
| Aug 5, 2026 | Lisa Lutoff-Perlo Director | sell | $198K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 7% | Sep 30, 2026 |
| Brave Warrior Advisors, LLC | 5.83% | Sep 30, 2026 |
| GATES MELINDA FRENCH | 0.08% | Dec 31, 2024 |
ETFs with the most weight in AN
| GLRY Inspire Momentum ETF | 3.37% |
| XMVM Invesco S&P MidCap Value with Momentum ETF | 2.28% |
| RFV Invesco S&P MidCap 400® Pure Value ETF | 1.99% |
| SMOT VanEck Morningstar SMID Moat ETF | 1.48% |
| XRT SPDR S&P Retail ETF | 1.46% |
| SYLD Cambria Shareholder Yield ETF | 1.32% |
| RWK Invesco S&P MidCap 400 Revenue ETF | 1.22% |
| LSAF LeaderShares AlphaFactor US Core Equity ETF | 1.1% |
What could go wrong
- Carmakers hold much of the power. AutoNation relies on carmakers' incentive programs, financial health and approval. Manufacturers can restrict which stores it acquires, and trouble at a big brand like Toyota, 21.5% of its 2025 new-car units, could hurt sales.
- Its own car loans could go bad. AutoNation Finance lends to customers on vehicles from its stores, and the company plans to grow the loan book. If buyers' incomes fall, more could miss payments, leaving AutoNation with losses.
- Tariffs could lift prices and hurt demand. Tariffs on imported vehicles and parts, announced starting in early 2025, could raise prices, limit supply and weaken demand. The ultimate impact depends on their scope, duration and how carmakers and shoppers respond.
- Interest rates hit buyers and costs. Higher rates raise monthly car payments, which can cut sales. They can also lift AutoNation's own costs on floorplan loans (which fund dealer inventory), its credit line and other borrowing.
- Large debt load with thin cash. Total debt was about $4.0 billion as of December 31, 2025, while cash and investments were $53 million as of June 30, 2026. Debt agreements include financial ratio tests and other restrictions.
- Sunbelt weather and disasters. Most of its stores are in Sunbelt metro areas. The company warns that natural disasters and severe weather, including effects of climate change, can disrupt its operations.
Recent events
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Other company announcement
- Quarterly results released
- Quarterly results released
- Executive or board change; Shareholder vote results
- Quarterly results released
- Major agreement signed; New debt or financial obligation
- Other company announcement
For income and retirement investors
AutoNation paid no dividends from FY2021 through FY2025, and its dividend yield was 0% as of October 28, 2026. Income from the stock would have to come from trimming shares. Instead, the company returns cash through buybacks (repurchases of its own stock): $6.1 billion over FY2021–FY2025, including $791.6 million in 2025. The share count fell 49.6%, from about 65.5 million in October 2021 to about 33.1 million in July 2026. Free cash flow, the cash left after running and investing in the business, was negative in 2024 and 2025.
The shares have fallen hard in downturns: 77% in the 2008 financial crisis, 53.6% in the 2020 COVID crash and 23.9% in the 2022 bear market. Each time they regained their earlier peak within about 4 to 9 months of the low. As of October 28, 2026, they were down 20.5% for the year to date. Single stocks carry more risk than diversified funds.
Questions investors ask
Does AutoNation pay a dividend?
No. AutoNation paid no dividends from FY2021 through FY2025, and its dividend yield was 0% as of October 28, 2026. Instead, the company returns cash to shareholders through buybacks, spending $6.1 billion on repurchases over those five years. That helped shrink the share count by 49.6% between October 2021 and July 2026. Income investors get no regular payouts from the stock.
How does AutoNation make money?
AutoNation makes money mainly by retailing new and used vehicles and servicing them. Of $27.6 billion in 2025 revenue, new vehicles brought in 48.9%, used vehicles 28.3%, parts and service 17.5%, and finance and insurance 5.3%. That last line comes from arranging car loans and offering service contracts. It also makes car loans through its own finance company, AutoNation Finance. Margins are thin: net income was $649.1 million, or 2.3% of revenue.
Which car brands does AutoNation carry?
AutoNation carried 30 new-vehicle brands across 323 franchises as of December 31, 2025. Toyota (with Lexus), Honda, Ford, General Motors, BMW, Mercedes-Benz, Stellantis and Volkswagen (with Audi and Porsche) made up about 89% of new vehicles sold in 2025. Toyota was the largest single brand, at 21.5% of retail new-vehicle units, followed by Ford and Lincoln at 12.8% and Honda at 12.1%. Premium Luxury stores produced 37.4% of 2025 revenue.
How has AutoNation stock performed over the long term?
Over 10 years the shares have done well, but they lost ground over the past year. As of October 28, 2026, the price return was -16.8% over one year, 6.3% a year over five years and 14% a year over 10 years, a total gain of 272%. The shares were down 20.5% for 2026 through that date. They can fall hard: the drop reached 77% in the 2008 financial crisis and 53.6% in the 2020 COVID crash.
What is AutoNation's P/E ratio?
AutoNation's price-to-earnings (P/E) ratio was 9.6 as of October 28, 2026, based on 2025 earnings of $17.04 per diluted share. The P/E shows how many dollars investors pay for each dollar of yearly profit. A low figure can mean investors expect earnings to stay under pressure, not just that shares are inexpensive. Net income fell in 2023, 2024 and 2025, though it more than doubled year over year in the second quarter of 2026.