Lithia Motors Gross profit (Q2, 2018)868.8 M

Lithia Motors Gross profit margin (Q2, 2018), %15.1%

Lithia Motors Net income (Q2, 2018)112.7 M

Lithia Motors EBIT (Q2, 2018)202.3 M

Lithia Motors Cash, 30-Jun-201830 M

Lithia Motors EV2 B

Lithia Motors revenue was $8.68 b in FY, 2016 which is a 90.6% year over year increase from the previous period.

Lithia Motors revenue breakdown by business segment: 17.6% from Luxury, 43.4% from Import and 39.0% from Domestic

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
---|---|---|---|---|

## Revenue | 4 b | 5.4 b | 4.6 b | 8.7 b |

| 35% | (16%) | 91% | |

## Cost of goods sold | 3.4 b | 4.6 b | 4.3 b | 7.4 b |

## Gross profit | 631 m | 823.3 m | 280.4 m | 1.3 b |

| 16% | 15% | 6% | 15% |

## General and administrative expense | 899.6 m | |||

## Operating expense total | 899.6 m | |||

## EBIT | 183.5 m | 231.9 m | 302.7 m | 338.4 m |

| 5% | 4% | 7% | 4% |

## Pre tax profit | 165.8 m | 210.5 m | 262.7 m | 283.5 m |

## Income tax expense | (60.6 m) | (75 m) | (79.7 m) | (86.5 m) |

## Net Income | 106 m | 138.7 m | 183 m | 197.1 m |

- Source: SEC Filings

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q1, 2018 | Q2, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Revenue | 1.2 b | 1.1 b | 1.2 b | 1.3 b | 2.2 b | 2.5 b | 2.7 b | 5.8 b | ||||||

## Cost of goods sold | 903.9 m | 906 m | 1 b | 1.1 b | 1.5 b | 1.7 b | 1.2 b | 1 b | 1.1 b | 1.2 b | 1.9 b | 2.1 b | 2.3 b | 4.9 b |

## Gross profit | 80 m | 66.8 m | 72.9 m | 75.8 m | 341.7 m | 375.3 m | 408.1 m | 868.8 m | ||||||

| 7% | 6% | 6% | 6% | 15% | 15% | 15% | 15% | ||||||

## General and administrative expense | 108.6 m | 121.8 m | 125.5 m | 131.6 m | 191.6 m | 195.6 m | 224 m | 219.1 m | 215.5 m | 228.1 m | 242.8 m | 257.3 m | 297.5 m | 630.8 m |

## Operating expense total | 108.6 m | 121.8 m | 125.5 m | 131.6 m | 191.6 m | 195.6 m | 224 m | 219.1 m | 215.5 m | 228.1 m | 242.8 m | 257.3 m | 297.5 m | 630.8 m |

## Depreciation and amortization | 16.9 m | 35.7 m | ||||||||||||

## EBIT | 51.7 m | 44.7 m | 61 m | 60.1 m | 67.9 m | 85.6 m | 72.8 m | 72.9 m | 90.5 m | 93.4 m | 86.1 m | 104 m | 93.8 m | 202.3 m |

| 6% | 7% | 7% | 7% | 4% | 4% | 4% | 4% | ||||||

## Pre tax profit | 47.7 m | 40.7 m | 57.1 m | 56 m | 58.1 m | 75.6 m | 62.6 m | 60 m | 77.3 m | 80.1 m | 81.3 m | 87.8 m | 69.8 m | 150.5 m |

## Income tax expense | (16.8 m) | (16 m) | (21.9 m) | (21.5 m) | (17.4 m) | (24.4 m) | (19.2 m) | (19.8 m) | (25.9 m) | (26 m) | (30.5 m) | (34.6 m) | (17.7 m) | (37.8 m) |

## Net Income | 31 m | 24.7 m | 38.3 m | 34.5 m | 40.7 m | 51.2 m | 43.4 m | 40.3 m | 51.4 m | 54 m | 50.7 m | 53.2 m | 52.1 m | 112.7 m |

- Source: SEC Filings

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
---|---|---|---|---|

## Cash | 23.7 m | 29.9 m | 45 m | 50.3 m |

## Inventories | 1.8 b | |||

## Current Assets | 1.1 b | 1.6 b | 1.9 b | 2.3 b |

## Goodwill | 49.5 m | 199.4 m | 213.2 m | 259.4 m |

## Total Assets | 1.7 b | 2.9 b | 3.2 b | 3.8 b |

## Accounts Payable | 51.2 m | 70.9 m | 70.9 m | 88.4 m |

## Current Liabilities | 872.5 m | 1.4 b | 1.6 b | 1.9 b |

## Total Liabilities | 2.9 b | |||

## Common Stock | 258.4 m | 165.5 m | ||

## Additional Paid-in Capital | 22.6 m | 29.8 m | 38.8 m | 41.2 m |

## Retained Earnings | 245.1 m | 367.9 m | 530.9 m | 703.8 m |

## Total Equity | 534.7 m | 673.1 m | 828.2 m | 910.8 m |

## Financial Leverage | 3.2 x | 4.3 x | 3.9 x | 4.2 x |

USD | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q1, 2018 | Q2, 2018 |
---|---|---|---|---|---|---|---|---|---|

## Cash | 23.4 m | 32.7 m | 21.6 m | 15 m | 24.1 m | 31.4 m | 31.2 m | 69 m | 30 m |

## Inventories | 1.4 b | 1.5 b | 1.6 b | 1.7 b | 1.8 b | 1.9 b | 2.4 b | 2.3 b | |

## Current Assets | 1.7 b | 1.7 b | 1.9 b | 1.9 b | 2 b | 2.2 b | 2.3 b | 3 b | 2.9 b |

## Goodwill | 199.1 m | 210.6 m | 213.9 m | 214.4 m | 219 m | 259.4 m | 259.4 m | 256.3 m | 281 m |

## Total Assets | 3 b | 3.1 b | 3.3 b | 3.3 b | 3.6 b | 3.8 b | 4 b | 5.1 b | 5.2 b |

## Accounts Payable | 116.9 m | 115.1 m | |||||||

## Short-term debt | 168.9 m | 24.1 m | |||||||

## Current Liabilities | 1.5 b | 1.5 b | 1.6 b | 1.7 b | 1.7 b | 1.9 b | 2 b | 2.5 b | 2.4 b |

## Total Debt | 168.9 m | 24.1 m | |||||||

## Total Liabilities | 2.3 b | 2.3 b | 2.5 b | 2.5 b | 2.7 b | 2.9 b | 3 b | 4 b | 4 b |

## Common Stock | 263.5 m | 213.7 m | 169 m | 167.6 m | 163.9 m | ||||

## Additional Paid-in Capital | 33.6 m | 35.9 m | 34.9 m | 37.2 m | 39.4 m | 37.7 m | 34.3 m | 14.6 m | 43.5 m |

## Retained Earnings | 450.3 m | 488.4 m | 566 m | 611.1 m | 658.9 m | 748.4 m | 794.9 m | 969.4 m | 1 b |

## Total Equity | 752.3 m | 787.7 m | 814.7 m | 817.5 m | 866.1 m | 950.2 m | 987.8 m | 1.1 b | 1.2 b |

## Financial Leverage | 4 x | 3.9 x | 4 x | 4.1 x | 4.1 x | 4 x | 4 x | 4.5 x | 4.4 x |

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
---|---|---|---|---|

## Net Income | 106 m | 138.7 m | 183 m | 197.1 m |

## Depreciation and Amortization | 49.4 m | |||

## Accounts Receivable | (37.4 m) | (59.5 m) | (13 m) | (106 m) |

## Inventories | (106.9 m) | (76 m) | (197.1 m) | (168.8 m) |

## Accounts Payable | 8.5 m | (3.1 m) | 674 k | 16.4 m |

## Cash From Operating Activities | 32.1 m | 30.3 m | 74.2 m | 86.5 m |

## Cash From Investing Activities | (130.3 m) | (736.3 m) | (169.7 m) | (351.7 m) |

## Long-term Borrowings | (7.1 m) | (8.7 m) | ||

## Dividends Paid | (10.1 m) | (15.9 m) | (20 m) | (24.1 m) |

## Cash From Financing Activities | 79.1 m | 712.2 m | 110.6 m | 270.5 m |

## Interest Paid | 21 m | 24.6 m | 41.1 m | 49.7 m |

## Free Cash Flow | 82.1 m | 116.3 m | 157.5 m | (14.2 m) |

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q1, 2018 | Q2, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Net Income | 78.6 m | 24.7 m | 63 m | 97.6 m | 40.7 m | 91.9 m | 135.3 m | 40.3 m | 91.7 m | 145.7 m | 50.7 m | 103.9 m | 52.1 m | 112.7 m |

## Depreciation and Amortization | 14.7 m | 5.5 m | 11.3 m | 17.4 m | 9.7 m | 20 m | 30.5 m | 11.7 m | 24.2 m | 36.4 m | 12.7 m | 26.8 m | 16.9 m | 35.7 m |

## Accounts Receivable | (6.9 m) | (12.3 m) | (20.7 m) | (11.3 m) | 7.6 m | 7.6 m | 9.7 m | 25.6 m | 6.6 m | (5.9 m) | 76.1 m | 70.9 m | 42.6 m | 47.9 m |

## Inventories | (18.2 m) | (56.7 m) | (77.3 m) | (39.5 m) | (122.7 m) | (132.4 m) | (73.7 m) | (114.1 m) | (85.6 m) | (42.3 m) | (36.1 m) | (98.9 m) | (35.5 m) | |

## Accounts Payable | 4.8 m | 1.8 m | 1.4 m | 4.2 m | 6.8 m | 8.9 m | 7.8 m | 920 k | 6.7 m | 6.2 m | (7.6 m) | 414 k | 6.9 m | 2.9 m |

## Cash From Operating Activities | 112.7 m | (22.4 m) | (4.2 m) | 87.7 m | 38.2 m | 29.3 m | 106.9 m | 34.6 m | 66.4 m | 189.8 m | 126.7 m | 178.6 m | 48.9 m | 236.3 m |

## Cash From Investing Activities | (67.5 m) | (47.8 m) | (107.4 m) | (122.4 m) | (30.9 m) | (50.2 m) | (104.6 m) | (29.2 m) | (66.7 m) | (289.5 m) | (22.5 m) | (125.2 m) | (373.5 m) | (451.5 m) |

## Long-term Borrowings | (5.4 m) | (1.9 m) | (3.7 m) | (5.5 m) | (3.6 m) | (7.3 m) | (8.8 m) | |||||||

## Dividends Paid | (6.7 m) | (3.4 m) | (7.6 m) | (11.7 m) | (4.2 m) | (9.5 m) | (14.7 m) | (5.2 m) | (11.5 m) | (17.8 m) | (6.3 m) | (13.1 m) | (6.8 m) | (13.9 m) |

## Cash From Financing Activities | (71.9 m) | 68.9 m | 116.2 m | 32.6 m | (16.2 m) | 14.4 m | 464 k | (28.8 m) | 78.8 m | (123 m) | (72.4 m) | 336.4 m | 187.9 m | |

## Interest Paid | 16 m | 5.1 m | 10.2 m | 15.6 m | 12.5 m | 22.3 m | 31.1 m | 13 m | 25 m | 36.6 m | 17.3 m | 33.5 m | 30.3 m | 54.7 m |

## Free Cash Flow | 78.9 m | (35 m) | (39.4 m) | 33.6 m | 13.3 m | (18.7 m) | 44.8 m | 18.7 m | 23.2 m | 108.4 m | 110.6 m | 146.3 m | 6.9 m | 164 m |

USD | Y, 2018 |
---|---|

## EV/EBIT | 10 x |

## EV/CFO | 8.6 x |

## EV/FCF | 12.4 x |

## Financial Leverage | 4.4 x |

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Lithia Motors's Stores was reported to be 160 in Q2, 2017. Lithia Motors's Vehicles Shipped was reported to be 145.8 k in FY, 2016.

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