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Side-by-side financial comparison of Murphy USA Inc. (MUSA) and PENSKE AUTOMOTIVE GROUP, INC. (PAG). Click either name above to swap in a different company.
PENSKE AUTOMOTIVE GROUP, INC. is the larger business by last-quarter revenue ($8.8B vs $4.7B, roughly 1.9× Murphy USA Inc.). Murphy USA Inc. runs the higher net margin — 3.0% vs 2.6%, a 0.4% gap on every dollar of revenue. On growth, PENSKE AUTOMOTIVE GROUP, INC. posted the faster year-over-year revenue change (14.6% vs 0.7%). Murphy USA Inc. produced more free cash flow last quarter ($128.8M vs $25.1M). Over the past eight quarters, PENSKE AUTOMOTIVE GROUP, INC.'s revenue compounded faster (9.0% CAGR vs -1.0%).
Murphy USA is an American corporation based in El Dorado, Arkansas that operates a chain of retail gas stations that are primarily located in proximity to Walmart stores. It was founded as a spin-off of Murphy Oil in 2013.
Penske Automotive Group, Inc. (PAG) is an American transportation services company headquartered in Bloomfield Hills, Michigan. It operates automotive and commercial truck dealers principally in the United States, Canada, and Western Europe, and distributes commercial vehicles, engines, power systems, and related parts and services principally in Australia and New Zealand. Additionally, PAG owns 28.9% of Penske Transportation Solutions, a business that manages a fleet of over 400,000 trucks, ...
MUSA vs PAG — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $8.8B |
| Net Profit | $141.9M | $228.1M |
| Gross Margin | — | 15.9% |
| Operating Margin | 4.4% | 3.6% |
| Net Margin | 3.0% | 2.6% |
| Revenue YoY | 0.7% | 14.6% |
| Net Profit YoY | -0.4% | -3.5% |
| EPS (diluted) | $7.35 | $3.46 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $4.7B | $8.8B | ||
| Q3 25 | $5.1B | $7.7B | ||
| Q2 25 | $5.0B | $7.7B | ||
| Q1 25 | $4.5B | $7.6B | ||
| Q4 24 | $4.7B | $7.7B | ||
| Q3 24 | $5.2B | $7.6B | ||
| Q2 24 | $5.5B | $7.7B | ||
| Q1 24 | $4.8B | $7.4B |
| Q4 25 | $141.9M | $228.1M | ||
| Q3 25 | $129.9M | $213.0M | ||
| Q2 25 | $145.6M | $250.0M | ||
| Q1 25 | $53.2M | $244.3M | ||
| Q4 24 | $142.5M | $236.4M | ||
| Q3 24 | $149.2M | $226.1M | ||
| Q2 24 | $144.8M | $241.2M | ||
| Q1 24 | $66.0M | $215.2M |
| Q4 25 | — | 15.9% | ||
| Q3 25 | — | 16.2% | ||
| Q2 25 | — | 16.9% | ||
| Q1 25 | — | 16.7% | ||
| Q4 24 | — | 16.3% | ||
| Q3 24 | — | 16.4% | ||
| Q2 24 | — | 16.4% | ||
| Q1 24 | — | 16.7% |
| Q4 25 | 4.4% | 3.6% | ||
| Q3 25 | 3.9% | 3.9% | ||
| Q2 25 | 4.4% | 4.5% | ||
| Q1 25 | 1.9% | 4.1% | ||
| Q4 24 | 4.2% | 4.3% | ||
| Q3 24 | 4.2% | 4.2% | ||
| Q2 24 | 4.0% | 4.4% | ||
| Q1 24 | 2.2% | 4.4% |
| Q4 25 | 3.0% | 2.6% | ||
| Q3 25 | 2.5% | 2.8% | ||
| Q2 25 | 2.9% | 3.3% | ||
| Q1 25 | 1.2% | 3.2% | ||
| Q4 24 | 3.0% | 3.1% | ||
| Q3 24 | 2.8% | 3.0% | ||
| Q2 24 | 2.7% | 3.1% | ||
| Q1 24 | 1.4% | 2.9% |
| Q4 25 | $7.35 | $3.46 | ||
| Q3 25 | $6.76 | $3.23 | ||
| Q2 25 | $7.36 | $3.78 | ||
| Q1 25 | $2.63 | $3.66 | ||
| Q4 24 | $6.87 | $3.53 | ||
| Q3 24 | $7.20 | $3.39 | ||
| Q2 24 | $6.92 | $3.61 | ||
| Q1 24 | $3.12 | $3.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $28.9M | $64.7M |
| Total DebtLower is stronger | $2.2B | $2.2B |
| Stockholders' EquityBook value | $623.5M | $5.6B |
| Total Assets | $4.7B | $17.6B |
| Debt / EquityLower = less leverage | 3.47× | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $64.7M | ||
| Q3 25 | $42.8M | $80.3M | ||
| Q2 25 | $54.1M | $155.3M | ||
| Q1 25 | $49.4M | $118.4M | ||
| Q4 24 | $47.0M | $72.4M | ||
| Q3 24 | $52.5M | $91.9M | ||
| Q2 24 | $79.8M | $115.1M | ||
| Q1 24 | $56.7M | $116.9M |
| Q4 25 | $2.2B | $2.2B | ||
| Q3 25 | $2.2B | $1.6B | ||
| Q2 25 | $2.1B | $1.8B | ||
| Q1 25 | $2.0B | $1.8B | ||
| Q4 24 | $1.8B | $1.9B | ||
| Q3 24 | $1.8B | $1.9B | ||
| Q2 24 | $1.8B | $1.8B | ||
| Q1 24 | $1.8B | $1.7B |
| Q4 25 | $623.5M | $5.6B | ||
| Q3 25 | $546.0M | $5.7B | ||
| Q2 25 | $646.1M | $5.6B | ||
| Q1 25 | $719.6M | $5.4B | ||
| Q4 24 | $840.1M | $5.2B | ||
| Q3 24 | $830.1M | $5.2B | ||
| Q2 24 | $811.3M | $5.0B | ||
| Q1 24 | $781.6M | $4.8B |
| Q4 25 | $4.7B | $17.6B | ||
| Q3 25 | $4.7B | $17.1B | ||
| Q2 25 | $4.6B | $17.4B | ||
| Q1 25 | $4.5B | $16.9B | ||
| Q4 24 | $4.5B | $16.7B | ||
| Q3 24 | $4.4B | $17.1B | ||
| Q2 24 | $4.4B | $16.6B | ||
| Q1 24 | $4.3B | $16.1B |
| Q4 25 | 3.47× | 0.39× | ||
| Q3 25 | 4.07× | 0.28× | ||
| Q2 25 | 3.20× | 0.32× | ||
| Q1 25 | 2.74× | 0.33× | ||
| Q4 24 | 2.18× | 0.36× | ||
| Q3 24 | 2.19× | 0.36× | ||
| Q2 24 | 2.20× | 0.36× | ||
| Q1 24 | 2.28× | 0.35× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $245.5M | $123.2M |
| Free Cash FlowOCF − Capex | $128.8M | $25.1M |
| FCF MarginFCF / Revenue | 2.7% | 0.3% |
| Capex IntensityCapex / Revenue | 2.5% | 1.1% |
| Cash ConversionOCF / Net Profit | 1.73× | 0.54× |
| TTM Free Cash FlowTrailing 4 quarters | $374.3M | $650.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $245.5M | $123.2M | ||
| Q3 25 | $184.8M | $379.5M | ||
| Q2 25 | $255.1M | $189.7M | ||
| Q1 25 | $128.5M | $282.7M | ||
| Q4 24 | $248.7M | $217.7M | ||
| Q3 24 | $202.1M | $271.0M | ||
| Q2 24 | $260.8M | $235.1M | ||
| Q1 24 | $136.0M | $456.0M |
| Q4 25 | $128.8M | $25.1M | ||
| Q3 25 | $67.7M | $300.4M | ||
| Q2 25 | $137.1M | $118.9M | ||
| Q1 25 | $40.7M | $206.1M | ||
| Q4 24 | $121.7M | $131.6M | ||
| Q3 24 | $65.2M | $190.1M | ||
| Q2 24 | $142.8M | $135.9M | ||
| Q1 24 | $59.8M | $353.5M |
| Q4 25 | 2.7% | 0.3% | ||
| Q3 25 | 1.3% | 3.9% | ||
| Q2 25 | 2.7% | 1.6% | ||
| Q1 25 | 0.9% | 2.7% | ||
| Q4 24 | 2.6% | 1.7% | ||
| Q3 24 | 1.2% | 2.5% | ||
| Q2 24 | 2.6% | 1.8% | ||
| Q1 24 | 1.2% | 4.7% |
| Q4 25 | 2.5% | 1.1% | ||
| Q3 25 | 2.3% | 1.0% | ||
| Q2 25 | 2.4% | 0.9% | ||
| Q1 25 | 1.9% | 1.0% | ||
| Q4 24 | 2.7% | 1.1% | ||
| Q3 24 | 2.6% | 1.1% | ||
| Q2 24 | 2.2% | 1.3% | ||
| Q1 24 | 1.6% | 1.4% |
| Q4 25 | 1.73× | 0.54× | ||
| Q3 25 | 1.42× | 1.78× | ||
| Q2 25 | 1.75× | 0.76× | ||
| Q1 25 | 2.42× | 1.16× | ||
| Q4 24 | 1.75× | 0.92× | ||
| Q3 24 | 1.35× | 1.20× | ||
| Q2 24 | 1.80× | 0.97× | ||
| Q1 24 | 2.06× | 2.12× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MUSA
| Product Sales Petroleum Retail | $3.3B | 69% |
| Merchandise | $1.1B | 23% |
| Product Sales Petroleum Wholesale | $327.9M | 7% |
| Other | $57.0M | 1% |
| Renewable Identification Numbers | $55.3M | 1% |
| Revenue Other | $1.3M | 0% |
PAG
| New Vehicle | $3.9B | 44% |
| Used Vehicle | $2.3B | 26% |
| Service And Parts | $953.6M | 11% |
| Retail Commercial Truck Dealership Segment | $725.4M | 8% |
| Other | $414.5M | 5% |
| Commercial Vehicle Distribution And Other | $303.3M | 3% |
| Finance And Insurance Net | $221.9M | 3% |
