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We are one of the largest automotive retailers in the United States (the U.S. ) (as measured by reported total revenue). As a result of the way we manage our business, we had three reportable segments as of December 31, 2025: (1) the Franchised Dealerships Segment; (2) the EchoPark Segment; and (3) the Powersports Segment.
Operating margin is thin at 2.43%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 6.5%, steady but not accelerating.
ROIC dropped from 13.31% to 8.78%, capital efficiency is deteriorating. Net debt of $2.29B represents 5.5x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$15.19B
▲ +6.5% YoY
Net Income (TTM)
$109M
▼ -45.0% YoY
Op. Margin
2.34%
▼ -0.8pp YoY
ROIC
8.50%
▼ -4.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$265M
▲ +634.6% YoY
Op. Cash Flow (TTM)
$407M
▲ +419.6% YoY
Net Debt
$2.42B
Cash & Equiv.
$6M
5Y CAGR: +9.2%
5Y CAGR: +22.1%
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