Filing Flows › Penske Automotive Group (PAG) › Q3 2026 › vs Q3 2025
Penske Automotive Group (PAG) Q3 2026 vs Q3 2025 (year over year)
Penske Automotive Group's revenue rose $363M (+5%) from $8.1B in Q3 2025 to $8.4B in Q3 2026. The biggest changes: Retail commercial truck dealership +$205M (+22%); Retail automotive dealership +$97.6M (+1%); Commercial vehicle distribution and other +$59.7M (+29%). Gross margin 15.7% against 16.1% (-0.4 pts).
Penske Automotive Group, Q3 2026: revenue $8.4B (+4% year over year), operating margin 3.6%, net earnings $221M, operating cash flow $306M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 15.7% | 16.1% | -0.4 pts |
| Operating margin | 3.6% | 3.9% | -0.3 pts |
| Net margin | 2.6% | 2.8% | -0.2 pts |
| Free cash flow margin | 2.7% | 4.0% | -1.3 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Retail automotive dealership | $7.0B | $6.9B | $97.6M | +1% |
| Retail commercial truck dealership | $1.1B | $919M | $205M | +22% |
| Commercial vehicle distribution and other | $266M | $207M | $59.7M | +29% |
| Revenue | $8.4B | $8.1B | $363M | +5% |
| Gross profit | $1.3B | $1.3B | $24.5M | +2% |
| Cost of revenue | $7.1B | $6.8B | $338M | +5% |
| Operating profit | $303M | $311M | −$7.9M | -3% |
| Operating expenses | $1.0B | $989M | $32.4M | +3% |
| Pre-tax earnings | $302M | $304M | −$2.0M | -0.7% |
| SG&A | $976M | $945M | $30.7M | +3% |
| Other operating costs | $45.5M | $43.8M | $1.7M | +4% |
| Net earnings | $221M | $225M | −$4.1M | -2% |
| Income tax | $80.8M | $78.7M | $2.1M | +3% |
| Depreciation | $45.5M | $43.8M | $1.7M | +4% |
| Share-based compensation | $6.7M | $7.4M | −$700K | -9% |
| Working capital & other | $32.1M | $123M | −$90.6M | -74% |
| Operating cash flow | $306M | $399M | −$93.7M | -23% |
| Free cash flow (OCF − capex) | $223M | $320M | −$96.8M | -30% |
| Capital expenditures | $82.2M | $79.1M | $3.1M | +4% |
Questions
How much did Penske Automotive Group's revenue grow year over year in Q3 2026?
Penske Automotive Group's revenue rose $363M (+5%) from $8.1B in Q3 2025 to $8.4B in Q3 2026.
What drove Penske Automotive Group's revenue change in Q3 2026?
Retail commercial truck dealership +$205M (+22%); Retail automotive dealership +$97.6M (+1%); Commercial vehicle distribution and other +$59.7M (+29%).