LITHIA MOTORS INC

Listed Company

LADCIK 0001023128NYSELarge AcceleratedRetail-Auto Dealers & Gasoline StationsOregonFY ends Dec 31

Period

FY 2025

Revenue

$37.63B

Net Income

$819.60M

Total Assets

$25.11B

Equity

$6.60B

Shares Out

22.81M

Op. Cash Flow

$356.70M

Business

LITHIA MOTORS INC is a global automotive retailer that sells and services new and used vehicles and related products across a blended physical and digital network. It offers new and preowned vehicle sales, financing and insurance products through a captive finance division, aftersales repair and maintenance, fleet management, and e-commerce solutions. Key business segments include retail dealerships, the Driveway and GreenCars digital platforms, captive auto finance, and fleet services. The company distributes products and services through a nationwide store network and omnichannel platforms serving the United States, the United Kingdom, and Canada.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	37,635	36,188	31,042	28,188	22,832
Total cost of sales	31,902	30,627	25,813	23,035	18,573
Gross profit	5,733	5,561	5,229	5,152	4,259
Financing operations income (loss)	75	8	−46	−4	11
Asset impairments	6	0	0	0	2
Selling, general and administrative	3,945	3,755	3,295	3,044	2,481
Depreciation and amortization	262	246	196	163	125
Operating income	1,595	1,569	1,692	1,941	1,663
Floor plan interest expense	−228	−279	−151	−39	−22
Other interest expense	−276	−258	−201	−129	−103
Other income, net	17	39	22	−43	−52
Income before income taxes	1,108	1,071	1,362	1,730	1,485
Income tax provision	−283	−255	−351	−468	−422
Net income	826	816	1,012	1,262	1,063
Net income attributable to non-controlling interests	−6	−5	−7	−5	−2
Net income attributable to redeemable non-controlling interest	0	−15	−4	−6	−900,000
Net income attributable to Lithia Motors, Inc.	820	797	1,001	1,251	1,060
Basic earnings per share attributable to Lithia Motors, Inc. (in dollars per share)	32.38	29.51	36.36	44.38	36.81
Shares used in basic per share calculations (in shares)	25	27	28	28	29
Diluted earnings per share attributable to Lithia Motors, Inc. (in dollars per share)	32.32	29.45	36.29	44.17	36.54
Shares used in diluted per share calculations (in shares)	25	27	28	28	29
Cash dividend paid per share (in dollars per share)	2.18	2.09	1.92	1.61	1.36

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash, restricted cash, and cash equivalents	342	402	941	247	—
Accounts receivable, net of allowance for doubtful accounts of $6.9 and $2.3	1,134	1,237	1,106	813	686
Inventories, net	6,120	5,912	4,754	3,409	2,386
Other current assets	263	223	137	162	64
Total current assets	7,858	7,774	6,938	4,631	3,310
Property and equipment, net of accumulated depreciation of $1,004.9 and $825.5	4,936	4,630	3,981	3,575	3,053
Operating lease right-of-use assets	717	659	479	382	396
Finance receivables, net of allowance for credit losses of $143.7 and $123.4	4,755	3,868	3,260	2,188	803
Goodwill	2,477	2,116	1,931	1,461	977
Franchise value	2,777	2,550	2,402	1,856	799
Other non-current assets	1,587	1,526	642	915	1,809
Total assets	25,107	23,123	19,633	15,007	11,147
Floor plan notes payable	1,993	2,055	1,347	627	354
Floor plan notes payable: non-trade	3,016	2,848	2,289	1,489	836
Current maturities of debt	134	192	110	21	224
Trade payables	340	334	288	258	235
Accrued liabilities	1,214	1,122	899	783	754
Total current liabilities	6,697	6,551	4,932	3,178	2,403
Debt, less current maturities	9,679	8,171	7,155	5,511	3,186
Deferred revenue	453	414	264	227	191
Deferred income taxes	516	397	349	286	191
Non-current operating lease liabilities	662	597	428	347	362
Other long-term liabilities	472	319	221	207	151
Total liabilities	18,479	16,449	13,350	9,756	6,484
Redeemable non-controlling interest	0	0	44	41	34
Preferred stock - no par value; authorized 15.0 shares; none outstanding	0	0	0	0	0
Common stock - no par value; authorized 125.0 shares; issued and outstanding 23.5 and 26.4	0	793	1,101	1,082	1,712
Additional paid-in capital	18	107	80	77	58
Accumulated other comprehensive income (loss)	67	−4	20	−18	−3
Retained earnings	6,518	5,754	5,013	4,065	2,860
Total stockholders equity - Lithia Motors, Inc.	6,603	6,650	6,214	5,206	4,626
Non-controlling interest	25	24	25	4	3
Total equity	6,628	6,674	6,239	5,210	4,629
Total liabilities, redeemable non-controlling interest and equity	25,107	23,123	19,633	15,007	11,147

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	324	295	204	173	127
Share-based compensation	60	58	41	41	35
Net loss (gain) on disposal of other assets	9	−8	−4	−100,000	−3
Net gain on disposal of stores	−20	−8	−31	−66	0
Investment loss (gain)	14	−33	0	39	66
Deferred income taxes	95	38	59	95	43
Amortization of operating lease right-of-use assets	91	95	61	55	39
Trade receivables, net	148	−10	−222	−122	−147
Inventories	33	−261	−864	−923	675
Finance receivables, net	−878	−622	−1,052	−1,373	−641
Other assets	−225	−165	−59	−138	61
Floor plan notes payable	−186	195	364	273	116
Trade payables	−8	9	−20	25	78
Accrued liabilities	15	31	21	−2	233
Other long-term liabilities and deferred revenue	53	−4	19	50	39
Net cash provided by (used in) operating activities	357	425	−472	−610	1,797
Capital expenditures	−351	−351	−230	−303	−260
Proceeds from sales of assets	31	15	13	17	3
Net cash used for other investments	−15	−355	−11	−12	−10
Cash paid for acquisitions, net of cash acquired	−886	−1,249	−1,185	−1,244	−2,699
Proceeds from sales of stores	194	86	143	212	76
Net cash used in investing activities	−1,028	−1,854	−1,270	−1,330	−2,890
Borrowings on floor plan notes payable: non-trade, net	192	305	879	738	−685
Borrowings on lines of credit	16,217	13,667	12,738	12,161	2,831
Repayments on lines of credit	−15,809	−13,320	−12,414	−10,137	−2,505
Principal payments on long-term debt and finance lease liabilities, scheduled	−41	−65	−35	−51	−33
Principal payments on long-term debt and finance lease liabilities, other	−16	−74	−11	−172	−487
Proceeds from issuance of long-term debt	787	408	80	113	817
Principal payments on non-recourse notes payable	−1,314	−950	−590	−194	−27
Proceeds from issuance of non-recourse notes payable	1,679	1,354	1,873	298	344
Payment of debt issuance costs	−16	−11	−17	−12	−15
Proceeds from issuance of common stock	28	27	30	36	1,136
Repurchase of common stock	−961	−366	−49	−688	−231
Dividends paid	−55	−57	−53	−45	−39
Payments of contingent consideration related to acquisitions	−9	−12	−14	−7	−1
Other financing activities	−69	800,000	−8	−4	0
Net cash provided by financing activities	612	908	2,410	2,036	1,107
Effect of exchange rate changes on cash and restricted cash	5	−5	33	−3	3
(Decrease) increase in cash and restricted cash	−55	−526	701	93	16
Cash paid during the period for interest	709	740	514	210	130
Cash paid during the period for income taxes, net	202	243	222	449	369
Floor plan debt paid in connection with store disposals	42	21	27	30	9
Contingent consideration in connection with acquisitions	0	0	7	22	900,000
Debt assumed in connection with acquisitions	61	868	402	700,000	4
Acquisition of finance leases in connection with acquisitions	0	23	45	78	0
Non-controlling interest recognized in connection with acquisitions	0	0	21	0	33
Right-of-use assets obtained in exchange for lease liabilities	155	290	150	45	172
Unsettled repurchases of common stock and excise taxes	9	100,000	0	0	—

Filings

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