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Penske Automotive Group Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, indicating very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Penske Automotive Group has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Penske Automotive Group's Piotroski F-Score or its related term are showing as below:

NYSE:PAG' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 8
Current: 7

1
8

During the past 13 years, the highest Piotroski F-Score of Penske Automotive Group was 8. The lowest was 1. And the median was 6.


Penske Automotive Group Piotroski F-Score Historical Data

The historical data trend for Penske Automotive Group's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Penske Automotive Group Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 6.00 6.00 4.00 5.00

Penske Automotive Group Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 7.00 5.00 7.00 7.00

Competitive Comparison

For the Auto & Truck Dealerships subindustry, Penske Automotive Group's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Penske Automotive Group Piotroski F-Score Distribution

For the Vehicles & Parts industry and Consumer Cyclical sector, Penske Automotive Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Penske Automotive Group's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun21) TTM:Last Year (Jun20) TTM:
Net Income was 246.6 + 200.2 + 182.5 + 338.9 = $968 Mil.
Cash Flow from Operations was 65.2 + 352.1 + 239.3 + 677.5 = $1,334 Mil.
Revenue was 5971.6 + 5812.1 + 5773.8 + 6987.5 = $24,545 Mil.
Gross Profit was 956.5 + 898.4 + 913.2 + 1182.7 = $3,951 Mil.
Average Total Assets from the begining of this year (Jun20)
to the end of this year (Jun21) was
(12876.1 + 13009.7 + 13247.2 + 13222 + 13306.8) / 5 = $13132.36 Mil.
Total Assets at the begining of this year (Jun20) was $12,876 Mil.
Long-Term Debt & Capital Lease Obligation was $3,812 Mil.
Total Current Assets was $4,142 Mil.
Total Current Liabilities was $4,403 Mil.
Net Income was 116.2 + 101.6 + 51.7 + 45.1 = $315 Mil.

Revenue was 5967.6 + 5891.6 + 5009.1 + 3651.1 = $20,519 Mil.
Gross Profit was 869.7 + 866.5 + 776.7 + 552.9 = $3,066 Mil.
Average Total Assets from the begining of last year (Jun19)
to the end of last year (Jun20) was
(13361.1 + 13689.5 + 13942.7 + 13816.8 + 12876.1) / 5 = $13537.24 Mil.
Total Assets at the begining of last year (Jun19) was $13,361 Mil.
Long-Term Debt & Capital Lease Obligation was $4,307 Mil.
Total Current Assets was $4,418 Mil.
Total Current Liabilities was $4,690 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Penske Automotive Group's current Net Income (TTM) was 968. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Penske Automotive Group's current Cash Flow from Operations (TTM) was 1,334. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun20)
=968.2/12876.1
=0.07519358

ROA (Last Year)=Net Income/Total Assets (Jun19)
=314.6/13361.1
=0.02354597

Penske Automotive Group's return on assets of this year was 0.07519358. Penske Automotive Group's return on assets of last year was 0.02354597. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Penske Automotive Group's current Net Income (TTM) was 968. Penske Automotive Group's current Cash Flow from Operations (TTM) was 1,334. ==> 1,334 > 968 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=3811.8/13132.36
=0.29026009

Gearing (Last Year: Jun20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun19 to Jun20
=4306.7/13537.24
=0.31813723

Penske Automotive Group's gearing of this year was 0.29026009. Penske Automotive Group's gearing of last year was 0.31813723. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun21)=Total Current Assets/Total Current Liabilities
=4142.3/4402.5
=0.94089722

Current Ratio (Last Year: Jun20)=Total Current Assets/Total Current Liabilities
=4418.4/4689.5
=0.94219

Penske Automotive Group's current ratio of this year was 0.94089722. Penske Automotive Group's current ratio of last year was 0.94219. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Penske Automotive Group's number of shares in issue this year was 80.7. Penske Automotive Group's number of shares in issue last year was 80.5. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=3950.8/24545
=0.1609615

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3065.8/20519.4
=0.14940983

Penske Automotive Group's gross margin of this year was 0.1609615. Penske Automotive Group's gross margin of last year was 0.14940983. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun20)
=24545/12876.1
=1.9062449

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun19)
=20519.4/13361.1
=1.53575679

Penske Automotive Group's asset turnover of this year was 1.9062449. Penske Automotive Group's asset turnover of last year was 1.53575679. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+0+0+1+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Penske Automotive Group has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Penske Automotive Group  (NYSE:PAG) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Penske Automotive Group Piotroski F-Score Related Terms

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Penske Automotive Group Business Description

Penske Automotive Group logo
Industry
Consumer Cyclical » Vehicles & Parts NAICS : 441110 SIC : 5511
Traded in Other Exchanges
Address
2555 Telegraph Road, Bloomfield Hills, MI, USA, 48302-0954
Penske Automotive Group operates in 22 U.S. states and overseas. It has 143 U.S. light-vehicle franchises including in Puerto Rico as well as 161 franchises overseas, primarily in the United Kingdom. The company is the second- largest U.S.-based dealership in terms of light-vehicle revenue and sells more than 35 brands, with 93% of retail automotive revenue coming from luxury and import names. Other services, in addition to new and used vehicles, are parts and repair and finance and insurance. The firm's Premier Truck Group owns 35 truck dealerships selling mostly Freightliner and Western Star brands, and Penske owns 19 CarShop used-vehicle stores in the U.S. and U.K. The company is based in Michigan and was called United Auto Group before changing its name in 2007.
Executives
Carlson John D. Jr. officer: EVP & CFO 2555 TELEGRAPH RD. BLOOMFIELD HILLS MI 48302
Barr John director 2555 TELEGRAPH ROAD BLOOMFIELD HILLS MI 48302-0954
Spradlin Shane M. officer: EVP, Gen. Counsel & Sec. 2555 TELEGRAPH RD. BLOOMFIELD HILLS MI 48302
Penske Roger S director, 10 percent owner, officer: Chair & CEO 2555 TELEGRAPH ROAD BLOOMFIELD HILLS MI 48302-0954
Denker Claude H Iii officer: EVP - Human Resources 2555 TELEGRAPH RD BLOOMFIELD HILLS MI 48302
Kurnick Robert H Jr director, officer: President 2555 TELEGRAPH ROAD BLOOMFIELD HILLS MI 48302-0954
Penske Gregory W director 3534 NORTH PECK ROAD EL MONTE CA 91731
Pierce Sandra E. director 2555 TELEGRAPH RD. BLOOMFIELD HILLS MI 48302
Duerheimer Wolfgang director 2555 TELEGRAPH RD BLOOMFIELD HILLS MI 48302
Penske Roger S Jr director 2555 TELEGRAPH ROAD BLOOMFIELD HILLS MI 48302
Mcwaters Kimberly J director 20410 NORTH 19TH AVENUE PHOENIX AZ 85027
Smith Greg C director FORD MOTOR COMPANY 21175 OAKWOOD BLVD DEARBORN MI 48124
Davis Lisa Ann director 2555 TELEGRAPH RD BLOOMFIELD HILLS MI 48302
Eisenson Michael R director C/O CHARLESBANK CAPITAL PARTNERS 600 ATLANTIC AV 28TH FL BOSTON MA 02210
Thompson H Brian director 1950 OLD GALLOWS ROAD SUITE 201 VIENNA VA 22182

Penske Automotive Group Headlines

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