Penske Automotive Group Inc (PAG)

Debt-to-assets ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	US$ in thousands	16,720,900	17,065,400	16,633,500	16,146,500	16,401,300	14,810,000	14,796,900	14,395,800	14,114,600	13,588,100	13,504,100	13,665,900	13,464,600	12,719,300	13,306,800	13,222,000	13,247,200	13,009,700	12,876,100	13,816,800
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $16,720,900K
= 0.00

The debt-to-assets ratio of Penske Automotive Group Inc has consistently remained at 0.00 from March 31, 2020, to December 31, 2024. This indicates that the company has not used debt to finance its operations and investments during this period. A debt-to-assets ratio of 0.00 implies that the company's assets are entirely financed by equity.

Maintaining a consistent debt-to-assets ratio of 0.00 over multiple periods can be viewed positively by investors and creditors, as it suggests a lower financial risk due to the absence of debt obligations. However, it is essential to consider that a zero debt-to-assets ratio may also indicate missed opportunities for leveraging debt to potentially enhance returns on equity.

Overall, the stable debt-to-assets ratio of 0.00 for Penske Automotive Group Inc demonstrates a conservative financial strategy focused on equity financing, which may be favorable for the company's long-term stability and financial health.