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Mister Car Wash, Inc. (MCW) 10-Year Financial Performance & Capital Metrics

MCW • • Industrial / General
Consumer CyclicalPersonal ServicesPersonal Care & Wellness ServicesAutomotive Care Services
AboutMister Car Wash, Inc., together with its subsidiaries, provides conveyorized car wash services in the United States. It offers express exterior and interior cleaning services. As of June 16, 2022, it operated 407 car wash locations in 21 states. The company was formerly known as Hotshine Holdings, Inc. and changed its name to Mister Car Wash, Inc. in March 2021. Mister Car Wash, Inc. was founded in 1969 and is headquartered in Tucson, Arizona.Show more
  • Revenue $995M +7.3%
  • EBITDA $176M -29.2%
  • Net Income $70M -12.3%
  • EPS (Diluted) 0.21 -12.5%
  • Gross Margin 70.78% +16.5%
  • EBITDA Margin 17.66% -34.0%
  • Operating Margin 17.99% -6.4%
  • Net Margin 7.06% -18.3%
  • ROE 7.34% -21.4%
  • ROIC 4.91% -6.1%
  • Debt/Equity 1.87 -2.9%
  • Interest Coverage 2.25 -5.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 138.0%
  • ✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

  • ✗Negative free cash flow

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y9.58%
3Y9.47%
TTM6.98%

Profit (Net Income) CAGR

10Y-
5Y137.99%
3Y-
TTM25.5%

EPS CAGR

10Y-
5Y132.37%
3Y-
TTM23.88%

ROCE

10Y Avg5.97%
5Y Avg5.81%
3Y Avg6.71%
Latest6.36%

Peer Comparison

Automotive Care Services
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
MCWMister Car Wash, Inc.2B6.1029.057.3%8.85%8.34%1.87

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+629.53M574.94M758.36M876.51M927.07M994.73M
Revenue Growth %--0.09%0.32%0.16%0.06%0.07%
Cost of Goods Sold+243.91M193.97M265.17M586.25M363.72M290.7M
COGS % of Revenue0.39%0.34%0.35%0.67%0.39%0.29%
Gross Profit+385.62M380.97M493.19M290.26M563.35M704.02M
Gross Margin %0.61%0.66%0.65%0.33%0.61%0.71%
Gross Profit Growth %--0.01%0.29%-0.41%0.94%0.25%
Operating Expenses+310.55M237.87M497.7M102.54M385.21M525.09M
OpEx % of Revenue0.49%0.41%0.66%0.12%0.42%0.53%
Selling, General & Admin84.81M51.34M254.81M102.84M105.71M107.98M
SG&A % of Revenue0.13%0.09%0.34%0.12%0.11%0.11%
Research & Development000000
R&D % of Revenue------
Other Operating Expenses225.75M186.53M242.88M-302K279.5M417.11M
Operating Income+75.06M143.1M-4.51M187.72M178.15M178.93M
Operating Margin %0.12%0.25%-0.01%0.21%0.19%0.18%
Operating Income Growth %-0.91%-1.03%42.62%-0.05%0%
EBITDA+114.53M188.39M46.05M249.3M248.14M175.71M
EBITDA Margin %0.18%0.33%0.06%0.28%0.27%0.18%
EBITDA Growth %-0.64%-0.76%4.41%-0%-0.29%
D&A (Non-Cash Add-back)39.47M45.29M50.56M61.58M69.99M-3.22M
EBIT65.89M141.18M-7.71M187.42M178.15M182.16M
Net Interest Income+-67.61M-64.01M-39.42M-41.9M-75.1M-79.49M
Interest Income000000
Interest Expense67.61M64.01M39.42M41.9M75.1M79.49M
Other Income/Expense-76.78M-65.93M-42.63M-41.9M-75.1M-76.27M
Pretax Income+-1.72M77.17M-47.14M145.82M103.04M102.67M
Pretax Margin %-0%0.13%-0.06%0.17%0.11%0.1%
Income Tax+-2.64M16.77M-25.09M32.92M22.91M32.43M
Effective Tax Rate %-0.54%0.78%0.47%0.77%0.78%0.68%
Net Income+920K60.4M-22.05M112.9M80.13M70.24M
Net Margin %0%0.11%-0.03%0.13%0.09%0.07%
Net Income Growth %-64.66%-1.36%6.12%-0.29%-0.12%
Net Income (Continuing)920K60.4M-22.05M112.9M80.13M70.24M
Discontinued Operations000000
Minority Interest000000
EPS (Diluted)+0.000.20-0.070.340.240.21
EPS Growth %---1.37%5.63%-0.29%-0.13%
EPS (Basic)0.000.20-0.070.370.260.22
Diluted Shares Outstanding296.06M296.06M300.12M327.56M328.24M329.51M
Basic Shares Outstanding296.06M296.06M300.12M303.37M311.04M320.03M
Dividend Payout Ratio211.66%-----

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+33.1M134.97M58.84M106.14M60.89M99.09M
Cash & Short-Term Investments6.71M117.87M19.74M65.22M19.05M67.46M
Cash Only6.71M117.87M19.74M65.22M19.05M67.46M
Short-Term Investments000000
Accounts Receivable12.84M5.66M23.89M19.12M21.02M14.31M
Days Sales Outstanding7.453.5911.57.968.285.25
Inventory10.08M8.37M6.33M14.57M8.95M5.73M
Days Inventory Outstanding15.0915.758.729.078.987.19
Other Current Assets2.44M1.97M5.62M3.39M9.26M8.93M
Total Non-Current Assets+1.16B2.02B2.39B2.86B2.82B3B
Property, Plant & Equipment233.57M944.57M1.19B1.34B1.56B1.74B
Fixed Asset Turnover2.70x0.61x0.64x0.66x0.59x0.57x
Goodwill731.99M737.41M1.06B1.11B1.13B1.13B
Intangible Assets133.13M127.02M129.82M123.61M117.67M112.51M
Long-Term Investments000000
Other Non-Current Assets18.28M4.48M8.24M9.1M9.57M15.97M
Total Assets+1.19B2.15B2.45B2.97B2.88B3.1B
Asset Turnover0.53x0.27x0.31x0.30x0.32x0.32x
Asset Growth %-0.8%0.14%0.21%-0.03%0.08%
Total Current Liabilities+85.57M122.95M130.23M154.49M169.56M186.97M
Accounts Payable15.79M24.37M27.35M25.65M33.64M30.02M
Days Payables Outstanding23.6345.8737.6415.9733.7637.69
Short-Term Debt8.29M42.38M041.03M06.92M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K
Other Current Liabilities21.04M20.26M032.33M29.26M0
Current Ratio0.39x1.10x0.45x0.69x0.36x0.53x
Quick Ratio0.27x1.03x0.40x0.59x0.31x0.50x
Cash Conversion Cycle-1.1-26.53-17.431.07-16.5-25.25
Total Non-Current Liabilities+1.17B2.01B1.66B2.01B1.8B1.92B
Long-Term Debt1.03B1.05B896.34M895.83M897.42M909.09M
Capital Lease Obligations1.01M701.4M732.91M774.55M823.44M903.88M
Deferred Tax Liabilities62.55M250.21M22.6M332.29M71.66M101.74M
Other Non-Current Liabilities79.94M6.56M8.87M6.83M4.42M1.77M
Total Liabilities1.26B2.14B1.79B2.16B1.97B2.1B
Total Debt+1.04B1.8B1.67B1.71B1.77B1.87B
Net Debt1.03B1.68B1.65B1.65B1.75B1.8B
Debt / Equity-108.02x2.54x2.14x1.93x1.87x
Debt / EBITDA9.05x9.55x36.20x6.86x7.12x10.64x
Net Debt / EBITDA8.99x8.92x35.78x6.60x7.04x10.26x
Interest Coverage1.11x2.24x-0.11x4.48x2.37x2.25x
Total Equity+-63.6M16.65M657.15M801.13M915.03M998.35M
Equity Growth %-1.26%38.47%0.22%0.14%0.09%
Book Value per Share-0.210.062.192.452.793.03
Total Shareholders' Equity-63.6M16.65M657.15M801.13M915.03M998.35M
Common Stock27K27K3.01M3.07M3.16M3.24M
Retained Earnings-156.58M-76.38M-98.42M14.48M94.61M164.85M
Treasury Stock000000
Accumulated OCI0-1.12M225K000
Minority Interest000000

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+70.07M101.85M173.35M229.2M204.65M248.62M
Operating CF Margin %0.11%0.18%0.23%0.26%0.22%0.25%
Operating CF Growth %-0.45%0.7%0.32%-0.11%0.21%
Net Income920K60.4M-22.05M112.9M80.13M70.24M
Depreciation & Amortization39.47M45.29M50.56M61.58M69.99M81.37M
Stock-Based Compensation2.37M1.49M216.58M22.3M24M25.56M
Deferred Taxes-4.43M21.64M-27.33M29.38M18.14M30.08M
Other Non-Cash Items19.14M-551K17.18M41.55M46.91M65.52M
Working Capital Changes12.6M-26.43M-61.59M-38.51M-34.51M-24.15M
Change in Receivables-467K513K-17.42M4.97M-1.4M5.51M
Change in Inventory-215K935K540K-2.66M357K3.22M
Change in Payables5.01M-2.81M1.83M5.63M-113K3.37M
Cash from Investing+-113.82M-13.35M-543.83M-190.13M-259.37M-199.85M
Capital Expenditures-74.58M-58.74M-125.76M-191.62M-328.12M-330.08M
CapEx % of Revenue0.12%0.1%0.17%0.22%0.35%0.33%
Acquisitions------
Investments------
Other Investing43.25M23.59M95.94M88.19M119.98M130.23M
Cash from Financing+45.4M22.68M272.46M6.29M8.61M-275K
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid-194.73M00000
Share Repurchases------
Other Financing-11.93M46K-49.37M8.97M9.28M-5.93M
Net Change in Cash------
Free Cash Flow+-4.51M43.1M47.59M37.59M-123.47M-81.46M
FCF Margin %-0.01%0.07%0.06%0.04%-0.13%-0.08%
FCF Growth %-10.56%0.1%-0.21%-4.29%0.34%
FCF per Share-0.020.150.160.11-0.38-0.25
FCF Conversion (FCF/Net Income)76.17x1.69x-7.86x2.03x2.55x3.54x
Interest Paid61.05M56.67M39.13M40.6M75.74M78.12M
Taxes Paid1.65M7.44M8.89M2.22M4.22M2.53M

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)-362.78%-6.54%15.48%9.34%7.34%
Return on Invested Capital (ROIC)5.83%8.06%-0.17%5.93%5.23%4.91%
Gross Margin61.25%66.26%65.03%33.12%60.77%70.78%
Net Margin0.15%10.51%-2.91%12.88%8.64%7.06%
Debt / Equity-108.02x2.54x2.14x1.93x1.87x
Interest Coverage1.11x2.24x-0.11x4.48x2.37x2.25x
FCF Conversion76.17x1.69x-7.86x2.03x2.55x3.54x
Revenue Growth--8.67%31.9%15.58%5.77%7.3%

Frequently Asked Questions

Valuation & Price

Mister Car Wash, Inc. (MCW) has a price-to-earnings (P/E) ratio of 29.0x. This suggests investors expect higher future growth.

Growth & Financials

Mister Car Wash, Inc. (MCW) reported $1.04B in revenue for fiscal year 2024. This represents a 65% increase from $629.5M in 2019.

Mister Car Wash, Inc. (MCW) grew revenue by 7.3% over the past year. This is steady growth.

Yes, Mister Car Wash, Inc. (MCW) is profitable, generating $92.2M in net income for fiscal year 2024 (7.1% net margin).

Dividend & Returns

Mister Car Wash, Inc. (MCW) has a return on equity (ROE) of 7.3%. This is below average, suggesting room for improvement.

Mister Car Wash, Inc. (MCW) generated $26.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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