$Penske Automotive (PAG.US)$2023.7.12 The current price is 1...

New data: Quarterly report and annual report for the second half of 2022, 2023Q1

In 2022, revenue increased 8.8%, operating profit increased 9.6%, net profit increased 16.2%, and the growth rate declined across the board.

In 2023Q1, revenue increased 5.2%, operating profit fell 7.1%, and net profit fell 18.9%, mainly due to declining gross margin and increased operating expenses. Furthermore, interest expenses increased sharply, which was not a good sign. The sharp decline in equity earnings in 2023Q1 contributed to the contraction in net profit.

Currently, the price-earnings ratio is 9.7 and the price-earnings ratio is 9.9. The valuation is high enough for a stock at the top of the cycle, and some positions can be reduced.