1.02(2.38%) Volume: 395,303 10:08PM EDT| Market Cap : 3.43 B | Enterprise Value : 9.4 B | P/E (TTM) : 7.89 | P/B : 1.34 |
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Penske Automotive Group's gross profit for the three months ended in Jun. 2019 was $868 Mil. Penske Automotive Group's gross profit for the trailing twelve months (TTM) ended in Jun. 2019 was $3,380 Mil.
Gross Margin % is calculated as gross profit divided by its revenue. Penske Automotive Group's gross profit for the three months ended in Jun. 2019 was $868 Mil. Penske Automotive Group's Revenue for the three months ended in Jun. 2019 was $5,756 Mil. Therefore, Penske Automotive Group's Gross Margin % for the quarter that ended in Jun. 2019 was 15.08%.
Penske Automotive Group had a gross margin of 15.08% for the quarter that ended in Jun. 2019 => No sustainable competitive advantage
During the past 13 years, the highest Gross Margin % of Penske Automotive Group was 16.60%. The lowest was 14.75%. And the median was 15.14%.
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
| Penske Automotive Group Quarterly Data | ||||||||||||||||||||
| Sep14 | Dec14 | Mar15 | Jun15 | Sep15 | Dec15 | Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | |
| Gross Profit |
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889.80 | 852.60 | 808.10 | 851.50 | 867.80 |
* The bar in red indicates where Penske Automotive Group's Gross Profit falls into.
Gross Profit is the different between the sale prices and the cost of buying or producing the goods.
Penske Automotive Group's Gross Profit for the fiscal year that ended in Dec. 2018 is calculated as
| Gross Profit (A: Dec. 2018 ) | = | Revenue | - | Cost of Goods Sold |
| = | 22785.1 | - | 19370.2 | |
| = | 3,415 |
Penske Automotive Group's Gross Profit for the quarter that ended in Jun. 2019 is calculated as
| Gross Profit (Q: Jun. 2019 ) | = | Revenue | - | Cost of Goods Sold |
| = | 5755.8 | - | 4888 | |
| = | 868 |
Gross Profit for the trailing twelve months (TTM) ended in Jun. 2019 was 852.6 (Sep. 2018 ) + 808.1 (Dec. 2018 ) + 851.5 (Mar. 2019 ) + 867.8 (Jun. 2019 ) = $3,380 Mil.
Gross Profit is the numerator in the calculation of Gross Margin:
Penske Automotive Group's Gross Margin % for the quarter that ended in Jun. 2019 is calculated as
| Gross Margin % (Q: Jun. 2019 ) | = | Gross Profit (Q: Jun. 2019 ) | / | Revenue (Q: Jun. 2019 ) |
| = | (Revenue - Cost of Goods Sold) | / | Revenue | |
| = | 868 | / | 5755.8 | |
| = | 15.08 % |
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Penske Automotive Group had a gross margin of 15.08% for the quarter that ended in Jun. 2019 => No sustainable competitive advantage
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