Short answer
ASBURY AUTOMOTIVE GROUP INC (ABG) filed its fiscal 2025 10-K annual report with the SEC on Feb 20, 2026. It reported revenue of $18.0B (+4.7% year over year) and net income of $492M.
- Top risk flagged: Regulatory risk: Increased effective tax rate to 25.7% in 2025 vs 25.2% in 2024 due to acquisition/divestiture activity affecting state tax exposures
FY2025 key financial metrics · XBRL
- Revenue
- $18.0B
- +4.7% YoY
- Net income
- $492M
- +14.3% YoY
- Operating margin
- 4.8%
- −0.1 pp YoY
- Gross margin
- 17.1%
- −0.1 pp YoY
- EPS (diluted)
- $25.13
- +16.9% YoY
- ROE
- 12.6%
- +0.4 pp YoY
- Operating cash flow
- $775M
- +15.5% YoY
Source: XBRL data from the ASBURY AUTOMOTIVE GROUP INC (ABG) FY2025 10-K on SEC EDGAR. USD.
ASBURY AUTOMOTIVE GROUP INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Multistate franchised automotive retailer with 223 franchises, 171 dealerships, 39 collision centers, and F&I provider TCA in 15 states
- New emphasis: Completion of $1.76B Herb Chambers acquisition adding 33 dealerships, 52 franchises, expanding Northeast footprint in 2025
- Strategic shift: Accelerated TCA product rollout across Koons and Florida platforms; planned full rollout on Herb Chambers platform in 2026
- Quantitative highlight: Transaction-adjusted net leverage rose to 3.2x in 2025 from 2.9x in 2024 after large acquisitions
- Noteworthy fact: Recorded a pre-tax $80.2M gain on dealership divestitures in 2025, significantly larger than prior years’ divestiture gains
Management Discussion & Analysis
- Revenue details not explicitly stated in the section; includes Dealerships segment (223 franchises, 36 brands) and TCA segment
- Gross profit margin varies by segment; new vehicle margins higher than historical due to supply chain issues; used vehicle, parts and service, F&I margins typically higher
- Acquisition of Herb Chambers added 33 dealerships, 3 collision centers for $1.76B, financed through multiple credit facilities
- Potential risks from economic conditions: rising interest rates, inflation, recession, tariffs including 25% on auto imports impacting costs and demand
Risk Factors
- Regulatory risk: Increased effective tax rate to 25.7% in 2025 vs 25.2% in 2024 due to acquisition/divestiture activity affecting state tax exposures
- Macroeconomic risk: New vehicle SAAR increased to 16.2 million in 2025 from 15.8 million in 2024, driven by tariffs and ending federal EV tax credits in Sep 2025
- Operational risk: Integration and rollout challenges of Herb Chambers acquisition and TCA’s product offerings across all dealerships planned through 2026
- Competitive risk: New vehicle gross profit per vehicle declined 7%, pressured by reduced margins amid competition and softer new vehicle pricing dynamics
- Financial risk: Revolving credit facility commitments increased to $925 million with $120 million drawn at year-end; heavy floor plan utilization at $1.57 billion outstanding
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