“The interest coverage ratio is a contractually defined amount reflecting a measure of earnings divided by certain interest expense principally associated with vehicle floorplan payable and non-vehicle debt.”10-Q · Jul 31, 2026 ↗
AutoNation, Inc.
AN
Market read
AutoNation, Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 4 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.
- Net income increased 17.0% versus the comparable filing period.
- Revenue decreased 2.1% versus the comparable filing period.
- Company reports decreased same-store new vehicle unit volume, citing prior-year accelerated consumer demand after tariff-related announcements and lower EV volume partly due to phasing out of EV tax credits.
- Reported change in new vehicle floorplan interest expense and net new vehicle inventory carrying expense driven by lower average interest rates partially offset by higher floorplan balances.
Invalidation: The isolated read changes if AN's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 4 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.
- Net income increased 17.0% versus the comparable filing period.
- Revenue decreased 2.1% versus the comparable filing period.
- Operating cash flow covered only 0.11x net income.
- Company reports decreased same-store new vehicle unit volume, citing prior-year accelerated consumer demand after tariff-related announcements and lower EV volume partly due to phasing out of EV tax credits.
- Reported change in new vehicle floorplan interest expense and net new vehicle inventory carrying expense driven by lower average interest rates partially offset by higher floorplan balances.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
No qualifying supportive evidence was identified.
- Operating cash flow was only 0.17x net income in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 5 filings.
- Demand and volume has repeated adverse evidence across 4 filings.
- Tariffs and trade policy has repeated adverse evidence across 3 filings.
- EV/sales is 71% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 11, 2026
203.29Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“The increases in Premium Luxury revenue were partially offset by a decrease in new vehicle unit volume as a result of the prior year period benefiting from accelerated consumer demand in April 2025 following tariff-related announcements and a decrease in EV u…”10-Q · Jul 31, 2026 ↗
“As a result of the quantitative tests, we determined the franchise rights carrying values for these stores exceeded their fair values, and we recorded non-cash franchise rights impairment charges of $22.0 million during the fourth quarter of 2025.”10-K · Feb 12, 2026 ↗
“The increases in Premium Luxury revenue were partially offset by a decrease in new vehicle unit volume as a result of the prior year period benefiting from accelerated consumer demand in April 2025 following tariff-related announcements and a decrease in EV u…”10-Q · Jul 31, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 0.3× · EV/sales 0.3×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for AN. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing shows material pressure
10-Q filed 2026-05-01 against the comparable filing from 2025-04-25.
What improved
- Net income increased 17.0% versus the comparable filing period.
What weakened
- Revenue decreased 2.1% versus the comparable filing period.
- Operating cash flow covered only 0.11x net income.
Filing receipts
“This change was primarily due to a $104.7 million increase in collections on auto loans receivable, partially offset by the cash flow impact of accelerated consumer demand in the later part of March 2025.”
“Same store used vehicle revenue PVR increased during the three months ended March 31, 2026, as compared to the same period in 2025, primarily due to an increase in the average selling price of used vehicles sold in all three segments and a shift in mix to higher-priced used vehicles.”
“Gross profit as a percentage of revenue decreased during the three months ended March 31, 2026, as compared to the same period in 2025, primarily due to a shift in mix to wholesale parts sales, which have relatively lower margins.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind AN
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
FFord Motor CompanypartnerMay 1, 2026 ▾
“The core brands of new vehicles that we sell, representing approximately 88% of the new vehicles that we sold during the three months ended March 31, 2026, are manufactured by Toyota (including Lexus), Honda, Ford, General Motors, Mercedes-Benz, BMW, Stellant…”
GMGeneral Motors CompanypartnerMay 1, 2026 ▾
“The core brands of new vehicles that we sell, representing approximately 88% of the new vehicles that we sold during the three months ended March 31, 2026, are manufactured by Toyota (including Lexus), Honda, Ford, General Motors, Mercedes-Benz, BMW, Stellant…”
POAHFFiling-linked namepartnerMay 1, 2026 ▾
“The core brands of new vehicles that we sell, representing approximately 88% of the new vehicles that we sold during the three months ended March 31, 2026, are manufactured by Toyota (including Lexus), Honda, Ford, General Motors, Mercedes-Benz, BMW, Stellant…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 12 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
AN is currently a Early Follower in the organic co-movement group Auto Dealerships. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.