AutoNation, Inc. (AN) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+114.4%

$394.07

vs $183.77 price

Levered DCF

$74.70

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.77

Grey zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	12.12×	9.94×	6.56×	4.38×	6.32×	16.16×	9.75×	8.23×
P/B	3.36×	2.76×	3.03×	2.95×	3.65×	1.9×	1.39×	1.19×
P/S	0.28×	0.25×	0.25×	0.22×	0.34×	0.3×	0.21×	0.15×
EV / EBITDA	11.38×	9.61×	7.7×	5.59×	6.4×	11.96×	9.98×	10.36×
Gross margin	17.9%	17.9%	19.0%	19.5%	19.2%	17.5%	16.5%	15.9%
Operating margin	4.7%	4.9%	6.1%	7.5%	7.4%	2.8%	3.9%	3.6%
Net margin	2.3%	2.6%	3.8%	5.1%	5.3%	1.9%	2.1%	1.8%
Current ratio	0.84×	0.74×	0.77×	0.92×	0.92×	1×	0.86×	0.86×
Debt / equity	4.35×	3.52×	3.67×	3.13×	2.08×	1.62×	1.91×	2.43×
Interest coverage	2.94×	2.98×	5.07×	11.48×	16.03×	3.58×	3.36×	3.11×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	27.7%	28.2%	46.2%	67.3%	57.8%	11.8%	14.2%	14.6%
Return on invested capital	7.4%	8.5%	11.6%	17.1%	18.7%	4.4%	6.2%	6.0%
Return on assets	4.5%	5.3%	8.5%	13.7%	15.4%	3.9%	4.2%	3.7%
Free cash flow yield	-2.5%	-0.2%	4.7%	22.2%	16.3%	17.1%	11.4%	3.4%
Earnings yield	8.3%	10.2%	15.2%	22.8%	15.8%	6.2%	10.3%	12.2%
Enterprise value	$18B	$15.3B	$14.8B	$12.4B	$13.6B	$10.8B	$10.4B	$9.8B
Net debt / EBITDA	6.4×	5.36×	4.2×	2.87×	2.31×	5.17×	5.76×	6.93×
Cash conversion cycle (days)	61	64	59	41	36	65	78	85