AutoNation, Inc.

autonation.com

What Do They Do?

Sells new and used vehicles, repair and maintenance services, and vehicle financing and protection products to car buyers and vehicle owners.

How Do They Make Money?

Vehicle buyers pay at sale or shortly afterward through lenders; repair work is paid on completion and parts at sale. AutoNation also earns commissions for arranging financing and protection products, some paid annually, and interest on its captive loans over their terms.

revenue

Segment	Share	How money arrives
New Vehicle Sold outright	49% FY2022: 44%	Sold outright
Used Vehicle Sold outright	28% FY2022: 36%	Sold outright
Parts and Service Sold outright	18% FY2022: 15%	Sold outright
Finance and Insurance, Net	5.3% FY2022: 5.3%
Product and Service, Other	0.1% FY2022: 0.1%

Who Are Their Customers?

Retail buyers transact through AutoNation stores and digital channels; vehicle owners use its repair services, while collision shops and independent repair providers buy wholesale parts.

Do Revenues Turn Into Profits?

Yes. It kept 2 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$197.5M.

Operating income, FY2025

4% of revenue

▼ −5% vs FY2024 ($1.3B, 5%)

Net income, FY2025

2% of revenue

▼ −6% vs FY2024 ($692.2M, 3%)

Free cash flow, FY2025

−1% of revenue

▲ +1331% (Loss) vs FY2024 (−$13.8M, 0%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −1%; vs $7B in Q2 FY2025
Net income: ▲ +111%; vs $86.4M in Q2 FY2025

New vehicle share of revenue vs 48.7% in Q2 FY2025

Jul 31, 2026 Acquired four dealerships in Atlanta and the San Francisco Bay Area The acquisitions represent approximately $600 million in annual revenue and 9,700 retail new and used vehicle annual unit sales.

Flat. Revenue was $27.6B in FY2025, about the same as the $25.8B of FY2021.

Mobile repair The latest report describes a mobile automotive repair and maintenance business as part of its operations alongside stores and service locations; the older report describes its stores and other locations.

Revenue over time

New Vehicle Used Vehicle Parts and Service Finance and Insurance, Net Product and Service, Other

$50B$25B$0

FY2021 FY2022 FY2023 FY2024 FY2025

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