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Auto & truck dealerships · Consumer Cyclical · Fiscal year ends Dec 31
Sonic Automotive reported revenue of $15.2B in the fiscal year ended Dec 2025, up 6.5% from the year before. Operating income was $368M, an operating margin of 2.4%, and net income was $119M. Operating cash flow of $567M less capital expenditure of −$150M left free cash flow of $717M. Net debt was $1.6B.
Ranks among the 13 auto & truck dealerships companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 12,396 | 14,001 | 14,372 | 14,224 | 15,154 |
| Cost of revenue | 10,482 | 11,684 | 12,127 | 12,032 | 12,771 |
| Gross profit | 1,914 | 2,317 | 2,246 | 2,193 | 2,383 |
| Selling, general & admin | 1,275 | 1,555 | 1,601 | 1,577 | 1,678 |
| Operating income | 538 | 314 | 424 | 462 | 368 |
| Pre-tax income | 458 | 190 | 242 | 256 | 173 |
| Income tax | 109 | 102 | 63.7 | 40.1 | −54.1 |
| Net income | 349 | 88.5 | 178 | 216 | 119 |
| Diluted EPS | 8.06 | 2.23 | 4.97 | 6.18 | 3.42 |
| Diluted shares | 43.3 | 39.7 | 35.9 | 35.0 | 34.7 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 299 | 229 | 28.9 | 44.0 | 6.3 |
| Receivables | 401 | 462 | 528 | 496 | 469 |
| Inventory | 1,261 | 1,217 | 1,578 | 1,958 | 2,013 |
| Current assets | 2,084 | 2,206 | 2,520 | 2,886 | 2,833 |
| Net PP&E | 1,459 | 1,562 | 1,601 | 1,607 | 1,563 |
| Goodwill | 416 | 231 | 254 | 359 | 422 |
| Total assets | 4,975 | 4,978 | 5,365 | 5,896 | 5,971 |
| Payables | 133 | 138 | 150 | 172 | 151 |
| Current liabilities | 1,892 | 1,845 | 2,293 | 2,638 | 2,598 |
| Short-term debt | 50.6 | 79.5 | 60.1 | 76.1 | 52.4 |
| Long-term debt | 1,511 | 1,672 | 1,617 | 1,512 | 1,563 |
| Total liabilities | 3,899 | 4,083 | 4,473 | 4,833 | 4,903 |
| Shareholders' equity | 1,076 | 895 | 892 | 1,062 | 1,068 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 306 | 406 | −15.7 | 109 | 567 |
| Capital expenditure | −298 | −227 | −204 | −187 | −150 |
| Free cash flow | 605 | 633 | 188 | 297 | 717 |
| Depreciation & amortisation | 101 | 128 | 142 | 150 | 163 |
| Stock-based compensation | 15.0 | 20.5 | 23.3 | 23.5 | 23.1 |
| Acquisitions | −1,019 | −102 | −75.1 | −54.8 | −440 |
| Share buybacks | −93.3 | −262 | −178 | −34.4 | −82.4 |
| Dividends paid | −18.3 | −34.5 | −40.0 | −40.8 | −48.8 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 12.9% | 2.7% | −1.0% | 6.5% |
| Operating income growth (YoY) | – | −41.7% | 34.9% | 8.9% | −20.4% |
| EPS growth (YoY) | – | −72.3% | 122.9% | 24.3% | −44.7% |
| Gross margin | 15.4% | 16.5% | 15.6% | 15.4% | 15.7% |
| Operating margin | 4.3% | 2.2% | 2.9% | 3.2% | 2.4% |
| Net margin | 2.8% | 0.6% | 1.2% | 1.5% | 0.8% |
| Return on equityBlank when equity is negative | 32.4% | 9.9% | 20.0% | 20.3% | 11.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 17.5% | 10.0% | 13.8% | 14.2% | 10.9% |
| Free cash flow margin | 4.9% | 4.5% | 1.3% | 2.1% | 4.7% |
| Cash conversion (CFO ÷ net income) | 0.88x | 4.59x | −0.09x | 0.51x | 4.78x |
| Receivable days | 12 | 12 | 13 | 13 | 11 |
| Inventory days | 44 | 38 | 48 | 59 | 58 |
| Payable days | 5 | 4 | 5 | 5 | 4 |
| Debt ÷ equity | 1.45x | 1.96x | 1.88x | 1.49x | 1.51x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 1,262 | 1,523 | 1,648 | 1,544 | 1,609 |
| Current ratio | 1.10x | 1.20x | 1.10x | 1.09x | 1.09x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.