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AutoNation, Inc., through its subsidiaries, is one of the largest automotive retailers in the United States. As of December 31, 2025, we owned and operated 323 new vehicle franchises from 245 stores located in the United States, predominantly in major metropolitan markets in the Sunbelt region.
Operating margin is thin at 4.50%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 3.1%, steady but not accelerating.
Negative free cash flow of -$198M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$27.41B
▲ +3.1% YoY
Net Income (TTM)
$679M
▼ -6.2% YoY
Op. Margin
4.44%
▼ -0.4pp YoY
ROIC
23.80%
▼ -1.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$104M
▼ -1331.2% YoY
Op. Cash Flow (TTM)
$187M
▼ -64.4% YoY
Net Debt
$673M
Cash & Equiv.
$66M
5Y CAGR: +6.2%
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