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Lithia Motors, Inc.

LAD Consumer Cyclical Auto & Truck Dealerships

Lithia Motors, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $37.6 billion, up 4.00% from fiscal 2024.

Revenue
+2.80%
EPS
+53.5%
Free cash flow
+39.8%
Total debt
+4.53%

Quarter to September 2026, against a year earlier

316.26 0.62 +0.20%
Market cap
$6.8B
P/E
9.1×
Fwd P/E
8.2×
Dividend yield
0.99%
F-score
3/9
Altman Z
2.40
Beneish M
−2.45
Dividend safety
51/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Vehicle Operations

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 0.42
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — — 1 — 2 2 — — 2 — —
Insider Ownership 2.47%

Capital & Financial Ratios $m

Size
Market Cap 6,840.00
Revenue ttm 38,207.20
Net income ttm 794.50
Free cash flow ttm (402.30)
Net debt Q 9,315.50
Valuation
P/E 9.10
Forward P/E 8.23
Price / sales 0.18
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.04
Financial health
Current ratio Q 1.00 (below 1: weak)
Debt / equity Q 1.46
Interest coverage Q 3.15
Growth
Revenue growth Q +2.80% (above 0%: growing)
Operating income growth Q −0.33% (below 0%: shrinking)
EPS, this year +7.41%
EPS, next year A +12.04%
Revenue, next year A +2.08%
EPS, past 5 yrs +10.60%
EPS, next 5 yrs A +11.90%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.4×, against a ten-year median of 0.4×; over the ten years it ranged from 0.3× in 2020 to 0.8× in 2021.
P/E against its own 10 years 37.07%
10-year low 10-year high
P/S against its own 10 years 7.96%
10-year low 10-year high
P/B against its own 10 years 3.12%
10-year low 10-year high
EV/Sales against its own 10 years 51.52%
10-year low 10-year high

Dividends raised every year since 2018

Yield
0.99%
Annual rate
3.12
Payout ratio
8.98%
Growth, 2018–26
+10.7%/yr
  1. 1.14 ’18
  2. 1.19 ’19 +4
  3. 1.22 ’20 +3
  4. 1.36 ’21 +11
  5. 1.61 ’22 +18
  6. 1.92 ’23 +19
  7. 2.09 ’24 +9
  8. 2.18 ’25 +4
  9. 2.57 ’26 +18
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 941 402 342 374
Receivables 1,106 1,237 1,134 1,133
Inventory 4,754 5,912 6,120 6,624
Other 137 223 263 262
6,938 7,774 7,858 8,393
2023 2024 2025 Q'26
Payables 288 334 340 435
ST’ Debt 110 192 134 115
Other — — — —
4,932 6,551 6,697 8,405

Compound Annual Growth %

10y 5y 3y
Sales 16.95% 23.45% 10.11%
Cash Flow 16.19% (8.11%) 0.00%
Earnings 16.18% 11.75% (13.15%)
Book Value 23.12% 20.02% 8.35%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 9.70 Actual 10.34

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 8.09 6.74 Miss by 1.35
Q1 FY26 7.06 7.34 Beat by 0.28
Q2 FY26 8.67 10.03 Beat by 1.36
Q3 FY26 9.70 10.34 Beat by 0.64
Q4 FY26 8.46 — Reports 10 February 2027

EPS $

Mar Jun Sep Dec Year
’26 4.28 11.54 13.22 — —
’25 7.94 9.87 8.61 5.72 32.32
’24 5.89 7.87 7.80 8.12 29.65
’23 8.30 10.78 9.46 7.74 36.29
’22 11.55 11.60 11.92 9.00 44.17
’21 5.81 10.75 10.11 9.57 36.54
’20 1.97 3.38 6.86 7.02 19.53
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 9,271 9,791 9,947 — —
’25 9,178 9,583 9,676 9,198 37,635
’24 8,562 9,232 9,221 9,174 36,188
’23 6,974 8,112 8,277 7,680 31,042
’22 6,705 7,240 7,296 6,947 28,188
’21 4,343 6,009 6,170 6,309 22,832
’20 2,804 2,759 3,620 3,944 13,127
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (108) (66) (31) — —
’25 322 9 (98) 124 357
’24 292 (148) 219 62 425
’23 (49) (250) 122 (295) (472)
’22 26 (289) (254) (93) (610)
’21 500 772 731 (205) 1,797
’20 122 668 11 (256) 545
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (194) (122) (117) — —
’25 259 (58) (195) 31 37
’24 217 (278) 158 (8) 88
’23 (87) (308) 57 (352) (689)
’22 (28) (356) (328) (186) (897)
’21 450 709 654 (272) 1,540
’20 80 633 (33) (297) 383
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing −8.1% a year for ten years.

Implied
−8.1%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 8,678 10,087 11,821 12,673 13,127 22,832 28,188 31,042 36,188 37,635 38,207 +17.7% 38,418 39,467 41,413 +3.2%
Gross margin, % 15.00 15.03 15.03 15.42 16.95 18.65 18.28 16.84 15.37 15.23 15.14 +0.2 pt
EBT 284 347 338 375 649 1,485 1,730 1,362 1,071 1,108 1,075 +16.4%
EBT margin, % 3.27 3.44 2.85 2.96 4.94 6.50 6.14 4.39 2.96 2.95 2.81 (0.3) pt
Net income 197 245 266 272 470 1,063 1,262 1,012 816 826 795 +17.3%
Per share, $
Per share, $ Revenue 341.66 401.85 484.48 546.24 551.53 792.77 999.57 1,128.81 1,340.30 1,487.55 1,744.62 +17.8%
Earnings 7.72 9.75 10.86 11.60 19.53 36.54 44.17 36.29 29.65 32.32 34.76 +17.2%
Cash flow 3.58 5.93 21.30 22.61 22.88 62.40 (21.63) (17.18) 15.74 14.10 (3.71) +16.5%
Capex (3.88) (3.59) (6.35) (5.32) (6.78) (8.93) (10.16) (7.89) (12.48) (12.66) (14.66) +14.0%
Free cash flow (0.30) 2.34 14.95 17.29 16.11 53.48 (31.79) (25.07) 3.27 1.44 (18.37) n/m
Book value 35.86 43.16 49.07 63.26 111.83 160.74 184.77 226.87 247.19 261.99 303.23 +24.7%
Shares, m 25 25 24 23 24 29 28 28 27 25 23 0.0%
Valuation, ×
Valuation, × P/E 12.69 11.79 7.01 12.69 15.22 8.19 4.56 8.95 12.04 10.34 9.10 10.3
P/S 0.29 0.29 0.16 0.27 0.53 0.37 0.20 0.29 0.27 0.22 0.18 0.3
P/B 2.74 2.67 1.56 2.32 2.62 1.85 1.09 1.43 1.45 1.27 1.04 1.9
EV/Sales 0.37 0.38 0.27 0.38 0.68 0.52 0.39 0.49 0.49 0.48 0.43 0.4
EV/FCF (419.72) 65.94 8.81 11.96 23.31 7.65 (12.22) (22.13) 199.67 489.84 (40.37) 35.3
Cash, $m
Cash, $m Operating cash flow 91 149 520 525 545 1,797 (610) (472) 425 357 (81) +16.4%
Capex (99) (90) (155) (123) (161) (257) (286) (217) (337) (320) (321) +14.0%
Free cash flow (8) 59 365 401 383 1,540 (897) (689) 88 37 (402) n/m
Balance, $m
Balance, $m Working capital 365 482 498 501 860 907 1,453 2,005 1,223 1,161 (12) +13.7%
Net debt 741 990 1,353 1,386 1,968 3,235 5,284 6,324 7,960 9,471 9,316 +32.7%
Shareholders’ equity 911 1,083 1,197 1,468 2,662 4,629 5,210 6,239 6,674 6,628 6,641 +24.7%
Returns, %
Returns, % ROA 5.58 5.75 5.28 4.73 6.73 11.13 9.57 5.78 3.73 3.40 3.07 (2.2) pt
ROIC 12.81 12.33 10.96 10.84 9.35 13.21 11.56 8.42 6.70 6.19 6.05 (6.6) pt
ROE 22.67 24.59 23.30 20.38 22.78 29.08 25.43 17.48 12.34 12.32 11.74 (10.4) pt
People
People Employees 11,170 12,899 13,643 14,320 14,538 21,150 21,875 27,446 30,000 30,000 — +11.6%
Revenue/emp, $m 0.78 0.78 0.87 0.88 0.90 1.08 1.29 1.13 1.21 1.25 — +5.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Lithia Motors is an automotive retailer that sells new and used vehicles, arranges financing and insurance, and provides repair and maintenance services. It serves vehicle buyers and owners through dealerships and online channels. Founded in 1946, the company is headquartered in Medford. Bryan B. DeBoer is its chief executive officer.

As of December 31, 2025, Lithia operated 455 locations representing 54 brands across the United States, the United Kingdom and Canada. Each new-vehicle store operates under a franchise agreement with the manufacturer of the brand it sells. Lithia also sells used vehicles from brands other than those represented by a store’s new-vehicle franchises.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Vehicle Operations 37,635 100.00%
Gross margin 15.23%
Operating margin 4.24%
Pre-tax margin 2.95%

Revenue by segment since 2009

Lithia Motors, Inc. vs peers in Auto & Truck Dealerships (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PAG Penske Automotive Group, Inc. $13.9B 15.5× 16.1× +4.50% (above 0%: growing) +4.24% (above 0%: growing) −28.97% (below 0%: shrinking) 15.73% 3.60% Compare
KMX CarMax, Inc. $7.5B 25.8× 17.2× +19.46% (above 0%: growing) +81.25% (above 0%: growing) +23.18% (above 0%: growing) 10.15% 3.00% Compare
LAD Lithia Motors, Inc. $6.8B 9.1× 8.2× +2.80% (above 0%: growing) +53.54% (above 0%: growing) +39.80% (above 0%: growing) 15.04% 4.22%
AN AutoNation, Inc. $6.0B 9.0× 8.5× −0.39% (below 0%: shrinking) −13.81% (below 0%: shrinking) +8.79% (above 0%: growing) 17.23% 4.49% Compare
RUSHA Rush Enterprises, Inc. $5.7B 19.1× 17.7× +12.35% (above 0%: growing) +19.02% (above 0%: growing) −56.15% (below 0%: shrinking) 18.31% 5.11% Compare
VVV Valvoline $4.6B 44.7× 31.9× +24.05% (above 0%: growing) +15.91% (above 0%: growing) +110.31% (above 0%: growing) 39.46% 20.60% Compare
OPLN OPENLANE, Inc. $4.4B — (loss-making) 29.6× +12.60% (above 0%: growing) +38.46% (above 0%: growing) +44.62% (above 0%: growing) 44.89% 17.57% Compare
RUSHB Rush Enterprises, Inc. $3.9B 26.1× 17.7× −1.61% (below 0%: shrinking) 0.00% −56.15% (below 0%: shrinking) 19.04% 5.12% Compare
ABG Asbury Automotive Group, Inc. $3.7B 8.2× 7.5× −8.07% (below 0%: shrinking) −22.18% (below 0%: shrinking) −28.85% (below 0%: shrinking) 16.57% 4.68% Compare
Median of peers $5.1B 19.1× 17.5× +8.42% +10.07% −10.03% 17.77% 4.90%

All 25 Auto & Truck Dealerships stocks →

From the latest earnings call

Updated

  • CEO Bryan DeBoer said same-store revenue declined, while used-vehicle and aftersales gross profit grew and Driveway Finance increased its income.
  • DeBoer said Lithia expects the Pinewood rollout to finish by the end of 2028, with the drive toward its expense target following later.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 111.82%
Held by the ten largest 69.02%
Holder Shares Stake Change
ABRAMS CAPITAL MANAGEMENT, L.P. 2.49m 11.32% 0.00
BlackRock 2.40m 10.90% −112.97k
Vanguard 2.33m 10.61% −80.86k
Fidelity (FMR) 2.19m 9.96% +422.73k
HARRIS ASSOCIATES L P 1.92m 8.71% −41.31k
Dimensional Fund Advisors 1.41m 6.41% +20.02k
State Street 774.09k 3.52% −14.48k
River Road Asset Management, LLC 682.69k 3.10% +29.87k
LYRICAL ASSET MANAGEMENT LP 498.05k 2.26% +37.43k
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 489.99k 2.23% −13.24k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 11 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 15.90m 22.82m 117.15
2024 16.80m 20.67m 125.10
2023 19.24m 29.39m 114.46
2022 11.13m 3.94m 70.64
2021 10.53m 14.01m 101.84

Ownership

Directors and executive officers, together less than 1%
The Vanguard Group 12.12%
Abrams Capital Management, LP 10.69%
Blackrock, Inc 10.10%
Harris Associates L.P. 8.69%
Dimensional Fund Advisors LP 5.69%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Lithia Motors, Inc. (LAD) Latest News

28 Oct

Impact 4 · · wardsauto.com
Impact 4 · · Zacks

27 Oct

Impact 4 · · Business Wire

22 Oct

Impact 4 · · Simply Wall St.

21 Oct

Impact 4 · · Moby transcript
Impact 4 · · The Motley Fool
Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat transcript
Impact 4 · · Investing.com
Impact 4 · · Associated Press
Impact 3 · · Trefis
Impact 3 · · Zacks
Impact 3 · · Zacks

20 Oct

Impact 3 · · Zacks

18 Oct

Impact 4 · · Simply Wall St.

14 Oct

Impact 3 · · Zacks

9 Oct

Impact 3 · · Trefis

6 Oct

Impact 3 · · Zacks
Impact 3 · · GlobeNewswire

8 Sep

Impact 3 ·

26 Aug

Impact 3 ·

11 Aug

Impact 3 ·

7 Aug

Impact 4 · · The Motley Fool transcript

4 Aug

Impact 3 · · wardsauto.com

30 Jul

Impact 3 ·
Impact 3 ·
Impact 3 · · MarketBeat transcript

29 Jul

Impact 3 · · The Motley Fool
Impact 3 · transcript
Impact 3 ·

LAD metrics, ten years each

stockrow.com/LAD · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com