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Penske Automotive Group Asset Turnover

: 0.50 (As of Sep. 2021)
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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Penske Automotive Group's Revenue for the three months ended in Sep. 2021 was $6,497 Mil. Penske Automotive Group's Total Assets for the quarter that ended in Sep. 2021 was $13,013 Mil. Therefore, Penske Automotive Group's Asset Turnover for the quarter that ended in Sep. 2021 was 0.50.

Asset Turnover is linked to ROE % through Du Pont Formula. Penske Automotive Group's annualized ROE % for the quarter that ended in Sep. 2021 was 37.47%. It is also linked to ROA % through Du Pont Formula. Penske Automotive Group's annualized ROA % for the quarter that ended in Sep. 2021 was 10.92%.


Penske Automotive Group Asset Turnover Historical Data

The historical data trend for Penske Automotive Group's Asset Turnover 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
Asset Turnover
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.39 2.21 2.13 1.87 1.50

Penske Automotive Group Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
Asset Turnover 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 0.46 0.44 0.44 0.53 0.50

Penske Automotive Group Asset Turnover Calculation

Asset Turnover measures how quickly a company turns over its asset through sales.

Penske Automotive Group's Asset Turnover for the fiscal year that ended in Dec. 2020 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Dec. 2020 )/( (Total Assets (A: Dec. 2019 )+Total Assets (A: Dec. 2020 ))/ count )
=20443.9/( (13942.7+13247.2)/ 2 )
=20443.9/13594.95
=1.50

Penske Automotive Group's Asset Turnover for the quarter that ended in Sep. 2021 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Sep. 2021 )/( (Total Assets (Q: Jun. 2021 )+Total Assets (Q: Sep. 2021 ))/ count )
=6497.3/( (13306.8+12719.3)/ 2 )
=6497.3/13013.05
=0.50

* 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.

Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.


Penske Automotive Group  (NYSE:PAG) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

Penske Automotive Group's annulized ROE % for the quarter that ended in Sep. 2021 is

ROE %**(Q: Sep. 2021 )
=Net Income/Total Stockholders Equity
=1420.4/3790.4
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(1420.4 / 25989.2)*(25989.2 / 13013.05)*(13013.05/ 3790.4)
=Net Margin %*Asset Turnover*Equity Multiplier
=5.47 %*1.9972*3.4332
=ROA %*Equity Multiplier
=10.92 %*3.4332
=37.47 %

Note: The Net Income data used here is four times the quarterly (Sep. 2021) net income data. The Revenue data used here is four times the quarterly (Sep. 2021) revenue data.

* 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.

** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.

It is also linked to ROA % through Du Pont Formula:

Penske Automotive Group's annulized ROA % for the quarter that ended in Sep. 2021 is

ROA %(Q: Sep. 2021 )
=Net Income/Total Assets
=1420.4/13013.05
=(Net Income / Revenue)*(Revenue / Total Assets)
=(1420.4 / 25989.2)*(25989.2 / 13013.05)
=Net Margin %*Asset Turnover
=5.47 %*1.9972
=10.92 %

Note: The Net Income data used here is four times the quarterly (Sep. 2021) net income data. The Revenue data used here is four times the quarterly (Sep. 2021) revenue data.

* 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.


Be Aware

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.


Penske Automotive Group Asset Turnover 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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