Latest Ratios: P/E Ratio 14.8x · EV/EBITDA 10.3x · ROE 25.9%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.8B | $5.0B | $5.9B | $6.9B | $6.5B | $11.1B | $6.2B | $8.4B | $7.5B | $6.3B | $4.4B |
| Enterprise Value | $11.7B | $10.9B | $11.4B | $11.5B | $10.6B | $15.7B | $10.9B | $12.7B | $11.3B | $9.4B | $7.0B |
| P/E Ratio → | 14.78 | 11.81 | 23.61 | 24.23 | 12.07 | 11.55 | 14.75 | 12.80 | 12.99 | 13.46 | 13.34 |
| P/S Ratio | 3.13 | 2.70 | 2.74 | 3.69 | 3.55 | 5.98 | 3.73 | 6.54 | 6.64 | 6.41 | 5.12 |
| P/B Ratio | 4.11 | 3.29 | 3.35 | 3.95 | 3.98 | 6.07 | 2.70 | 1.32 | 1.36 | 1.46 | 1.26 |
| P/FCF | 5.51 | 4.75 | 5.15 | 5.78 | 5.23 | 10.43 | 6.36 | 10.69 | 10.99 | 11.35 | 8.85 |
| P/OCF | 5.51 | 4.75 | 5.14 | 5.76 | 5.22 | 10.35 | 6.30 | 10.33 | 10.59 | 11.18 | 8.75 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.86 | 5.32 | 6.13 | 5.83 | 8.46 | 6.54 | 9.93 | 10.02 | 9.51 | 8.10 |
| EV / EBITDA | 10.29 | 9.59 | 32.19 | 30.83 | 14.61 | 12.22 | 18.90 | 14.64 | 14.64 | 15.72 | 12.96 |
| EV / EBIT | 10.56 | 10.56 | 34.95 | 33.19 | 15.15 | 12.48 | 19.71 | 15.03 | 15.02 | 16.16 | 13.33 |
| EV / FCF | — | 10.31 | 10.00 | 9.61 | 8.61 | 14.76 | 11.16 | 16.23 | 16.58 | 16.84 | 14.01 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 98.7% | 98.7% | 62.4% | 67.2% | 73.9% | 77.2% | 75.0% | 71.6% | 72.6% | 74.4% | 74.1% |
| Operating Margin | 47.6% | 47.6% | 15.2% | 18.5% | 38.5% | 67.8% | — | 57.3% | 58.5% | 52.5% | 54.6% |
| Net Profit Margin | 18.3% | 18.3% | 11.6% | 15.2% | 29.4% | 51.8% | 25.3% | 44.3% | 44.8% | 42.5% | 34.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 25.9% | 25.9% | 14.2% | 16.9% | 31.1% | 46.4% | 9.7% | 11.1% | 11.7% | 11.9% | 14.9% |
| ROA | 4.4% | 4.4% | 2.7% | 3.6% | 7.3% | 13.2% | 5.6% | 9.6% | 10.2% | 10.2% | 8.7% |
| ROIC | 10.4% | 10.4% | 3.3% | 4.0% | 8.3% | 14.0% | — | 6.3% | 6.7% | 6.4% | 8.6% |
| ROCE | 14.7% | 14.7% | 3.6% | 4.3% | 9.6% | 17.7% | — | 12.8% | 13.8% | 13.1% | 14.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.17 | 4.17 | 3.63 | 2.89 | 2.83 | 2.53 | 2.04 | 0.71 | 0.70 | 0.71 | 0.74 |
| Debt / EBITDA | 5.61 | 5.61 | 18.00 | 13.55 | 6.31 | 3.60 | 8.16 | 5.21 | 4.97 | 5.14 | 4.80 |
| Net Debt / Equity | — | 3.84 | 3.15 | 2.62 | 2.57 | 2.52 | 2.04 | 0.68 | 0.69 | 0.71 | 0.73 |
| Net Debt / EBITDA | 5.17 | 5.17 | 15.61 | 12.29 | 5.73 | 3.58 | 8.13 | 5.00 | 4.94 | 5.13 | 4.77 |
| Debt / FCF | — | 5.56 | 4.85 | 3.83 | 3.38 | 4.33 | 4.80 | 5.54 | 5.59 | 5.49 | 5.16 |
| Interest Coverage | 2.22 | 2.22 | — | — | — | — | — | 4.32 | 4.78 | 4.83 | 5.40 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.26 | 0.26 | — | — | — | 39.28 | 39.23 | 35.47 | 32.61 | 25.74 | 24.92 |
| Quick Ratio | 0.26 | 0.26 | — | — | — | 39.28 | 39.23 | 35.47 | 32.61 | 25.74 | 24.92 |
| Cash Ratio | 0.23 | 0.23 | — | — | — | 0.13 | 0.09 | 0.91 | 0.14 | 0.04 | 0.09 |
| Asset Turnover | — | 0.24 | 0.22 | 0.22 | 0.24 | 0.26 | 0.22 | 0.20 | 0.21 | 0.22 | 0.23 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.8% | 8.5% | 4.2% | 4.1% | 8.3% | 8.7% | 6.8% | 7.8% | 7.7% | 7.4% | 7.5% |
| FCF Yield | 18.1% | 21.0% | 19.4% | 17.3% | 19.1% | 9.6% | 15.7% | 9.4% | 9.1% | 8.8% | 11.3% |
| Buyback Yield | 12.5% | 14.5% | 5.4% | 2.9% | 12.1% | 13.3% | 7.7% | 3.6% | 1.7% | 2.0% | 2.7% |
| Total Shareholder Yield | 12.5% | 14.5% | 5.4% | 2.9% | 12.1% | 13.3% | 7.7% | 3.6% | 1.7% | 2.0% | 2.7% |
| Shares Outstanding | — | $11M | $12M | $13M | $14M | $16M | $18M | $19M | $20M | $20M | $20M |
Includes 30+ ratios · 30 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying CACC stock.
Credit Acceptance Corporation's current P/E ratio is 14.8x. The historical average is 14.2x. This places it at the 71th percentile of its historical range.
Credit Acceptance Corporation's current EV/EBITDA is 10.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.8x.
Credit Acceptance Corporation's return on equity (ROE) is 25.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 20.4%.
Based on historical data, Credit Acceptance Corporation is trading at a P/E of 14.8x. This is at the 71th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Credit Acceptance Corporation has 98.7% gross margin and 47.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Credit Acceptance Corporation's Debt/EBITDA ratio is 5.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Provision volatility and rate sensitivity
Metrics are mathematically derived from official filings.
Premium Multiple on Fee Shift
CACC trades at 4.31x book, a premium to peers like WRLD at 2.68x, implying the market capitalizes on its fee-based model shift. According to recent financial statements, forward P/E of 11.92 suggests earnings growth expectations.
The P/B of 4.31 is significantly above the peer average, indicating the market prices CACC as a high-return franchise despite its subprime focus. The forward P/E of 11.92 implies the market expects earnings to recover from the provision-driven trough, but the sustainability of fee income remains a key question. The absence of a dividend yield suggests all returns are expected via capital appreciation and buybacks.
ROE Recovery Amid Fee Reliance
ROE improved to 8.8% in 2026Q2 from a -2.9% trough in 2024Q2, driven by a shift to fee income and provision reversals. As reported in financial statements, ROA rose to 1.6%, but leverage remains modest at 0.18 equity-to-assets.
The DuPont decomposition shows that ROE is now driven by asset utilization (fee income) rather than NIM, which collapsed to 0.1%. The efficiency ratio of 22.8% in 2026Q2 is exceptionally low, indicating strong cost control, but this is partly due to the high fee base. The reliance on non-interest income (100% of revenue) introduces earnings volatility, as fee income may be less predictable than interest income.
NIM Collapse, Efficiency Gains
NIM fell from 5.0% in 2026Q1 to 0.1% in 2025Q1, reflecting a strategic pivot to fee-based revenue. According to recent financial statements, the efficiency ratio improved to 22.8% in 2026Q2, down from 69.5% in 2024Q2, indicating significant operating leverage.
The collapse in NIM is not a sign of margin compression but a structural shift in revenue mix, as interest income has been replaced by fees. The efficiency ratio improvement is dramatic, but investors should monitor whether the low ratio is sustainable as fee income may face regulatory or competitive pressures. The 2025Q3 spike in provisions to $220.4M suggests credit costs remain a swing factor.
Thin but Stable Capital Buffer
Equity-to-assets has remained between 0.16 and 0.20 over the past ten quarters, with equity around $1.6B. Based on reported figures, this provides a modest cushion against credit losses, but the lack of CET1 disclosure limits full assessment.
The stable equity ratio suggests CACC maintains a consistent capital base, but the thin buffer may constrain growth and capital return. The $320.3M buyback in 2026Q2 indicates management's confidence in capital strength, yet the volatile provisions could erode equity if credit conditions deteriorate. Investors should monitor whether the capital ratio meets regulatory requirements for a non-depository lender.
Provision Swings Mask Credit Trends
Loan loss provisions swung from a positive $220.4M in 2025Q3 to negative $101.9M in 2026Q1, indicating volatile credit quality. As reported in financial statements, these reversals boosted earnings but may not reflect underlying portfolio health.
The negative provisions in recent quarters suggest that prior reserves were excessive, but the sharp swings raise questions about the adequacy of current reserves. The subprime auto loan portfolio is inherently risky, and the lack of detailed NPL data makes it difficult to assess true asset quality. The 2025Q3 spike in provisions may indicate a deterioration that was later reversed, but investors should demand more transparency.
P/E Misleads on Earnings Quality
The P/E ratio is commonly misapplied to CACC because earnings are heavily influenced by provision reversals and fee income shifts. According to recent financial statements, P/E of 15.48 obscures the volatility in net income, which swung from -2.9% ROE to 8.8%.
For a lender like CACC, P/E can be distorted by one-time provision adjustments, making it an unreliable valuation metric. A better approach is to use P/B or P/TBV, which are more stable and reflect the underlying asset base. Additionally, investors should adjust earnings for provision volatility to assess normalized profitability. The shift to fee income also makes P/E less comparable to traditional banks, as the business model is evolving.