Lithia Motors (LAD) financial statements
Lithia Motors reported revenue of $37.6B in fiscal 2025, up 17.7% a year over 9 years.
Net income was $820M and the operating margin 4.2%, against 3.9% in 2016.
Free cash flow was $6M, and the company returned $55M in dividends and $961M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Lithia Motors's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.7B | $10.1B | $11.8B | $12.7B | $13.1B | $22.8B | $28.2B | $31.0B | $36.2B | $37.6B |
| Cost of revenue | $7.4B | $8.6B | $10.0B | $10.7B | $10.9B | $18.6B | $23.0B | $25.8B | $30.6B | $31.9B |
| Gross profit | $1.3B | $1.5B | $1.8B | $2.0B | $2.2B | $4.3B | $5.2B | $5.2B | $5.6B | $5.7B |
| Selling, general and admin | $900M | $1.0B | $1.3B | $1.4B | $1.4B | $2.5B | $3.0B | $3.3B | $3.8B | $3.9B |
| Operating income | $338M | $409M | $447M | $495M | $693M | $1.7B | $1.9B | $1.7B | $1.6B | $1.6B |
| Interest expense | $23M | $35M | $56M | $61M | $72M | $103M | $129M | $201M | $258M | $276M |
| Pre-tax income | $284M | $347M | $338M | $375M | $648M | $1.5B | $1.7B | $1.4B | $1.1B | $1.1B |
| Income tax | $86M | $102M | $72M | $104M | $178M | $422M | $468M | $351M | $255M | $282M |
| Net income | $197M | $245M | $266M | $272M | $470M | $1.1B | $1.3B | $1.0B | $797M | $820M |
| EPS (diluted) | $7.72 | $9.75 | $10.86 | $11.60 | $19.53 | $36.54 | $44.17 | $36.29 | $29.45 | $32.32 |
| Diluted shares | 26M | 25M | 24M | 23M | 24M | 29M | 28M | 28M | 27M | 25M |
| Gross margin | 15.0% | 15.0% | 15.0% | 15.4% | 16.9% | 18.7% | 18.3% | 16.8% | 15.4% | 15.2% |
| Operating margin | 3.9% | 4.1% | 3.8% | 3.9% | 5.3% | 7.3% | 6.9% | 5.5% | 4.3% | 4.2% |
| Net margin | 2.3% | 2.4% | 2.2% | 2.1% | 3.6% | 4.6% | 4.4% | 3.2% | 2.2% | 2.2% |
Balance sheet
Fiscal years, from Lithia Motors's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $50M | $57M | $32M | $84M | $160M | $153M | $168M | $825M | $446M | $391M |
| Receivables | $418M | $522M | $529M | $505M | $614M | $686M | $813M | $1.1B | $1.2B | $1.1B |
| Inventory | $1.8B | $2.1B | $2.4B | $2.4B | $2.5B | $2.4B | $3.4B | $4.8B | $5.9B | $6.1B |
| Total current assets | $2.3B | $2.8B | $3.0B | $3.1B | $3.3B | $3.3B | $4.6B | $6.9B | $7.8B | $7.9B |
| Property, plant and equipment | $1.0B | $1.2B | $1.4B | $1.6B | $2.2B | $3.1B | $3.6B | $4.0B | $4.6B | $4.9B |
| Goodwill | $259M | $256M | $435M | $455M | $593M | $977M | $1.5B | $1.9B | $2.1B | $2.5B |
| Total assets | $3.8B | $4.7B | $5.4B | $6.1B | $7.9B | $11.1B | $15.0B | $19.6B | $23.1B | $25.1B |
| Total current liabilities | $1.9B | $2.3B | $2.5B | $2.6B | $2.5B | $2.4B | $3.2B | $4.9B | $6.6B | $6.7B |
| Long-term debt | $770M | $1.0B | $1.4B | $1.4B | $2.1B | $3.2B | $5.5B | $7.2B | $8.2B | $9.7B |
| Total liabilities | $2.9B | $3.6B | $4.2B | $4.6B | $5.2B | $6.5B | $9.8B | $13.3B | $16.4B | $18.5B |
| Shareholders' equity | $911M | $1.1B | $1.2B | $1.5B | $2.7B | $4.6B | $5.2B | $6.2B | $6.7B | $6.6B |
| Net debt | $720M | $971M | $1.3B | $1.3B | $1.9B | $3.0B | $5.3B | $6.3B | $7.7B | $9.3B |
Cash flow
Fiscal years, from Lithia Motors's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $91M | $149M | $520M | $524M | $545M | $1.8B | -$610M | -$472M | $425M | $357M |
| Capital spending | $101M | $105M | $158M | $125M | $168M | $260M | $303M | $230M | $351M | $351M |
| Free cash flow | -$10M | $44M | $362M | $400M | $377M | $1.5B | -$913M | -$703M | $74M | $6M |
| Stock-based compensation | $11M | $11M | $13M | $16M | $23M | $35M | $41M | $41M | $58M | $60M |
| Dividends paid | $24M | $26M | $28M | $28M | $29M | $39M | $45M | $53M | $56M | $55M |
| Share buybacks (net) | -$113M | -$34M | -$149M | -$3M | -$51M | -$231M | -$688M | -$49M | -$366M | -$961M |
| Net borrowing | $66M | $396M | $62M | $420M | $606M | $817M | $113M | $80M | $408M | $787M |
| Free cash flow margin | -0.1% | 0.4% | 3.1% | 3.2% | 2.9% | 6.7% | -3.2% | -2.3% | 0.2% | 0.0% |
| Dividends per share | $0.95 | $1.06 | $1.13 | $1.18 | $1.21 | $1.34 | $1.60 | $1.91 | $2.08 | $2.18 |
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Open LAD in InvestinglyQuestions
What was Lithia Motors's revenue in 2025?
$37.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does Lithia Motors generate?
$6M in fiscal 2025 (operating cash flow minus capital spending).
From Lithia Motors's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.