OPENLANE, Inc. (KAR) 10-Year Financial Performance & Capital Metrics

KAR • • Industrial / General

Consumer CyclicalAuto DealershipsDigital Automotive MarketplacesOnline Vehicle Auctions

AboutOPENLANE, Inc., together with its subsidiaries, operates as a digital marketplace for used vehicles, which connects sellers and buyers in the United States, Canada, Continental Europe and the United Kingdom. The company operates through two segments, Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles; and value-added ancillary services, including inbound and outbound transportation logistics, reconditioning, vehicle inspection and certification, titling, administrative, and collateral recovery services. Its digital marketplaces include OPENLANE platform, a mobile app enabled solutions that allows dealers to sell and source inventory. This segment sells its products and services through commercial fleet operators, financial institutions, rental car companies, new and used vehicle dealers, and vehicle manufacturers. The Finance segment offers floorplan financing, a short-term inventory-secured financing to independent vehicle dealers. It serves commercial customers, and franchise and independent dealer customers. The company was formerly known as KAR Auction Services, Inc. and changed its name to OPENLANE, Inc. in May 2023. OPENLANE, Inc. was incorporated in 2006 and is headquartered in Carmel, Indiana.Show more

Revenue $1.79B +8.7%
EBITDA $277M +188.1%
Net Income $110M +171.3%
EPS (Diluted) 0.45 +124.7%
Gross Margin 39.63% -16.2%
EBITDA Margin 15.51% +165.0%
Operating Margin 10.19% +3322.8%
Net Margin 6.14% +165.6%
ROE 8.23% +176.0%
ROIC 8.69% +4032.2%
Debt/Equity 0.21 -34.6%
Interest Coverage 8.36 +25141.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 4.4%
✗Profits declining 10.2% over 5 years
✗Sales declining 8.5% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-2.75%

5Y-8.46%

3Y7.23%

TTM12.77%

Profit (Net Income) CAGR

10Y-4.23%

5Y-10.23%

3Y18.23%

TTM137.13%

EPS CAGR

10Y-9.27%

5Y-8.46%

3Y17.13%

TTM358.62%

ROCE

10Y Avg7.36%

5Y Avg3.09%

3Y Avg3.66%

Latest8.47%

Peer Comparison

Online Vehicle Auctions

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KAROPENLANE, Inc.	3.33B	31.30	69.56	8.72%	8.82%	8.36%	7.17%	0.21
CPRTCopart, Inc.	39.93B	41.25	25.94	9.68%	34.24%	16.57%	3.08%	0.01
ACVAACV Auctions Inc.	1.55B	8.98	-18.71	32.4%	-9.89%	-16.74%	3.94%	0.28

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.64B	3.15B	3.46B	3.77B	2.78B	1.33B	1.45B	1.53B	1.65B	1.79B
Revenue Growth %	0.12%	0.19%	0.1%	0.09%	-0.26%	-0.52%	0.09%	0.05%	0.08%	0.09%
Cost of Goods Sold+	1.5B	1.83B	1.99B	2.14B	1.62B	744.3M	792.5M	913.3M	867.6M	1.08B
COGS % of Revenue	0.57%	0.58%	0.57%	0.57%	0.58%	0.56%	0.55%	0.6%	0.53%	0.6%
Gross Profit+	1.14B	1.32B	1.47B	1.63B	1.16B	582.6M	658.1M	615.9M	777.5M	708.7M
Gross Margin %	0.43%	0.42%	0.43%	0.43%	0.42%	0.44%	0.45%	0.4%	0.47%	0.4%
Gross Profit Growth %	0.09%	0.16%	0.11%	0.11%	-0.28%	-0.5%	0.13%	-0.06%	0.26%	-0.09%
Operating Expenses+	714.8M	823.7M	904.8M	1B	850.7M	513.4M	530.6M	521.2M	782.7M	526.5M
OpEx % of Revenue	0.27%	0.26%	0.26%	0.27%	0.31%	0.39%	0.37%	0.34%	0.48%	0.29%
Selling, General & Admin	502M	583.1M	640.2M	732.8M	662M	374.5M	420.7M	436.3M	430.4M	408.6M
SG&A % of Revenue	0.19%	0.19%	0.19%	0.19%	0.24%	0.28%	0.29%	0.29%	0.26%	0.23%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	4.6M	500K	1.9M	3.5M	188.7M	138.9M	109.9M	84.9M	352.3M	117.9M
Operating Income+	427.3M	499M	566M	624.2M	314.1M	69.2M	127.5M	94.7M	-5.2M	182.2M
Operating Margin %	0.16%	0.16%	0.16%	0.17%	0.11%	0.05%	0.09%	0.06%	-0%	0.1%
Operating Income Growth %	0.13%	0.17%	0.13%	0.1%	-0.5%	-0.78%	0.84%	-0.26%	-1.05%	36.04%
EBITDA+	640.1M	739.6M	830.6M	796.6M	502.8M	178.3M	237.4M	194.9M	96.3M	277.4M
EBITDA Margin %	0.24%	0.23%	0.24%	0.21%	0.18%	0.13%	0.16%	0.13%	0.06%	0.16%
EBITDA Growth %	0.11%	0.16%	0.12%	-0.04%	-0.37%	-0.65%	0.33%	-0.18%	-0.51%	1.88%
D&A (Non-Cash Add-back)	212.8M	240.6M	264.6M	172.4M	188.7M	109.1M	109.9M	100.2M	101.5M	95.2M
EBIT	427.3M	499M	562.8M	343.1M	319.6M	63.4M	140M	78.8M	9.3M	179.7M
Net Interest Income+	-91.4M	-138.8M	-163.2M	-191.2M	-189.5M	-128.2M	-125.7M	-40.2M	-155.8M	-21.8M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	91.4M	138.8M	164M	192M	189.5M	128.2M	125.7M	40.2M	155.8M	21.8M
Other Income/Expense	-86.8M	-143.7M	-168M	-188.2M	-184M	-134M	-113.2M	-56.1M	-141.3M	-24.3M
Pretax Income+	340.5M	355.3M	398M	435.7M	130.1M	-64.8M	14.3M	38.6M	-146.5M	157.9M
Pretax Margin %	0.13%	0.11%	0.12%	0.12%	0.05%	-0.05%	0.01%	0.03%	-0.09%	0.09%
Income Tax+	125.9M	132.9M	36M	107.7M	37.7M	-11.2M	15.1M	10M	8.3M	48M
Effective Tax Rate %	0.63%	0.63%	0.91%	0.75%	1.45%	-0.01%	4.65%	6.25%	1.05%	0.7%
Net Income+	214.6M	222.4M	362M	328M	188.5M	500K	66.5M	241.2M	-154.1M	109.9M
Net Margin %	0.08%	0.07%	0.1%	0.09%	0.07%	0%	0.05%	0.16%	-0.09%	0.06%
Net Income Growth %	0.27%	0.04%	0.63%	-0.09%	-0.43%	-1%	132%	2.63%	-1.64%	1.71%
Net Income (Continuing)	214.6M	222.4M	174M	117.6M	92.4M	-53.6M	-800K	28.6M	-154.8M	109.9M
Discontinued Operations	0	0	188M	210.4M	96.1M	54.1M	67.3M	212.6M	700K	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.51	1.60	2.62	2.42	0.70	-0.16	0.28	0.25	-1.82	0.45
EPS Growth %	0.27%	0.06%	0.64%	-0.08%	-0.71%	-1.23%	2.75%	-0.11%	-8.28%	1.25%
EPS (Basic)	1.53	1.62	2.66	2.44	0.70	-0.16	0.28	0.25	-1.82	0.46
Diluted Shares Outstanding	142.3M	139.1M	138M	135.7M	132.9M	129.3M	123M	116.3M	109.1M	109M
Basic Shares Outstanding	140.26M	137.28M	136.09M	134.43M	131.6M	129.3M	123M	116.3M	109.1M	108M
Dividend Payout Ratio	0.71%	0.71%	0.48%	0.57%	0.87%	98%	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	2.45B	2.84B	3.14B	3.31B	3.24B	3.18B	3.39B	3.02B	2.84B	2.85B
Cash & Short-Term Investments	155M	201.8M	317.2M	337.1M	507.6M	752.1M	177.6M	225.7M	93.5M	143M
Cash Only	155M	201.8M	317.2M	337.1M	507.6M	752.1M	177.6M	225.7M	93.5M	143M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	2.14B	2.46B	2.63B	2.46B	2.56B	2.26B	2.89B	2.67B	2.57B	2.57B
Days Sales Outstanding	296.46	285.4	277.09	237.75	335.58	620.63	726.5	636.29	571.05	524.67
Inventory	16.2M	17.9M	19.4M	27.6M	0	0	0	0	0	0
Days Inventory Outstanding	3.95	3.58	3.56	4.7	-	-	-	-	-	-
Other Current Assets	147.2M	176.3M	195.1M	581.7M	179.2M	166.9M	326.9M	130.9M	174.6M	137.6M
Total Non-Current Assets+	3.35B	3.72B	3.85B	3.89B	3.34B	3.62B	4.06B	2.1B	1.88B	1.77B
Property, Plant & Equipment	766.9M	842.5M	908.2M	976.2M	973.1M	940.5M	238.2M	208.4M	245.7M	216.4M
Fixed Asset Turnover	3.44x	3.74x	3.81x	3.86x	2.86x	1.41x	6.09x	7.34x	6.70x	8.26x
Goodwill	1.8B	2.06B	2.19B	2.21B	1.82B	2.14B	1.6B	1.46B	1.27B	1.22B
Intangible Assets	782.9M	816.9M	747M	702.1M	506.4M	501.5M	402.4M	367.2M	317.6M	278.5M
Long-Term Investments	-334.9M	-327.5M	-213.5M	-229.7M	0	0	0	0	0	0
Other Non-Current Assets	34.1M	35.8M	20.8M	41.3M	35.5M	40.8M	1.82B	57.3M	49.9M	53M
Total Assets+	5.79B	6.56B	6.98B	7.21B	6.58B	6.8B	7.45B	5.12B	4.73B	4.62B
Asset Turnover	0.46x	0.48x	0.50x	0.52x	0.42x	0.20x	0.19x	0.30x	0.35x	0.39x
Asset Growth %	0.08%	0.13%	0.07%	0.03%	-0.09%	0.03%	0.1%	-0.31%	-0.08%	-0.02%
Total Current Liabilities+	2.23B	2.33B	2.39B	2.62B	2.52B	2.25B	3.01B	2.64B	2.48B	2.57B
Accounts Payable	608.4M	648.5M	682.7M	691.3M	704.6M	688.9M	785.3M	551.2M	556.6M	547.6M
Days Payables Outstanding	148.29	129.53	125.4	117.76	159.04	337.83	361.68	220.29	234.16	185.1
Short-Term Debt	153.9M	105.2M	12.4M	13.1M	28.8M	24.3M	16.3M	288.7M	154.6M	222.5M
Deferred Revenue (Current)	-1000K	-1000K	-1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	1.28B	1.38B	1.46B	1.73B	1.53B	1.34B	2.09B	1.71B	1.67B	1.7B
Current Ratio	1.10x	1.22x	1.31x	1.26x	1.29x	1.41x	1.13x	1.14x	1.15x	1.11x
Quick Ratio	1.09x	1.21x	1.31x	1.25x	1.29x	1.41x	1.13x	1.14x	1.15x	1.11x
Cash Conversion Cycle	152.11	159.44	155.25	124.69	-	-	-	-	-	-
Total Non-Current Liabilities+	2.18B	2.83B	3.11B	3.12B	2.41B	2.93B	2.93B	958.3M	920.5M	714.1M
Long-Term Debt	1.71B	2.37B	2.67B	2.65B	1.86B	1.85B	1.85B	205.3M	202.4M	0
Capital Lease Obligations	0	0	0	0	358.3M	344.2M	88.1M	79.7M	70.4M	60.4M
Deferred Tax Liabilities	300.8M	291.7M	192.7M	188.4M	134.5M	128.6M	138.4M	54M	20.9M	24.4M
Other Non-Current Liabilities	159.5M	168.5M	442.5M	462.9M	59.2M	605.2M	852.2M	619.3M	626.8M	629.3M
Total Liabilities	4.41B	5.16B	5.5B	5.74B	4.93B	5.18B	5.94B	3.6B	3.4B	3.28B
Total Debt+	1.87B	2.47B	2.68B	2.67B	2.25B	2.22B	1.95B	573.7M	427.4M	282.9M
Net Debt	1.72B	2.27B	2.36B	2.33B	1.74B	1.47B	1.78B	348M	333.9M	139.9M
Debt / Equity	1.35x	1.77x	1.80x	1.82x	1.36x	1.38x	1.29x	0.38x	0.32x	0.21x
Debt / EBITDA	2.93x	3.34x	3.23x	3.35x	4.47x	12.46x	8.23x	2.94x	4.44x	1.02x
Net Debt / EBITDA	2.68x	3.07x	2.84x	2.93x	3.46x	8.25x	7.48x	1.79x	3.47x	0.50x
Interest Coverage	4.68x	3.60x	3.45x	3.25x	1.66x	0.54x	1.01x	2.36x	-0.03x	8.36x
Total Equity+	1.39B	1.4B	1.48B	1.46B	1.65B	1.62B	1.51B	1.52B	1.33B	1.34B
Equity Growth %	-0.1%	0.01%	0.06%	-0.01%	0.13%	-0.02%	-0.06%	0%	-0.13%	0.01%
Book Value per Share	9.74	10.05	10.76	10.79	12.42	12.50	12.30	13.06	12.16	12.32
Total Shareholders' Equity	1.39B	1.4B	1.48B	1.46B	1.65B	1.62B	1.51B	1.52B	1.33B	1.34B
Common Stock	1.4M	1.4M	1.3M	1.3M	1.3M	1.3M	1.2M	1.1M	1.1M	1.1M
Retained Earnings	17.3M	74.1M	257M	392.3M	651M	600.7M	625.7M	822.9M	624.4M	689.8M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-40.2M	-49.3M	-25.2M	-61.2M	-31M	-32.7M	-24.7M	-49.5M	-36.7M	-69.1M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	475M	360.8M	588.8M	749.8M	542M	384.4M	413.2M	-412.5M	235.4M	291.4M
Operating CF Margin %	0.18%	0.11%	0.17%	0.2%	0.19%	0.29%	0.28%	-0.27%	0.14%	0.16%
Operating CF Growth %	0.1%	-0.24%	0.63%	0.27%	-0.28%	-0.29%	0.07%	-2%	1.57%	0.24%
Net Income	214.6M	222.4M	362M	328M	188.5M	500K	66.5M	241.2M	-154.1M	109.9M
Depreciation & Amortization	212.8M	240.6M	264.6M	269.9M	188.7M	191.3M	183M	100.2M	101.5M	95.2M
Stock-Based Compensation	11.7M	18.1M	24.2M	23.4M	19.6M	11.8M	13.2M	16.6M	16.5M	14.7M
Deferred Taxes	5M	-4.2M	-93.5M	100K	-3.3M	-7.2M	7.8M	-2.3M	-29.8M	1.7M
Other Non-Cash Items	21.8M	47.1M	62.1M	49.1M	131.7M	95M	41.9M	-640.8M	327.5M	30.1M
Working Capital Changes	9.1M	-163.2M	-30.6M	79.3M	16.8M	90.8M	98.4M	-127.4M	-26.2M	39.8M
Change in Receivables	-127M	-194.7M	-57.4M	-66.5M	-3M	117.9M	-94.1M	111.3M	-66M	44.4M
Change in Inventory	-220M	-506.2M	-748.2M	-145.8M	-19.8M	27.1M	-192.5M	0	0	0
Change in Payables	136.1M	31.5M	26.8M	145.8M	19.8M	-27.1M	192.5M	-240.8M	0	0
Cash from Investing+	-547.6M	-765.3M	-379.8M	-381.2M	-452.4M	-326.6M	-1.22B	2.14B	-83.5M	-70.9M
Capital Expenditures	-134.7M	-155.1M	-152.2M	-198M	-161.6M	-101.4M	-108.5M	-60.9M	-52M	-53M
CapEx % of Revenue	0.05%	0.05%	0.04%	0.05%	0.06%	0.08%	0.07%	0.04%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-294.8M	-178.1M	-149.3M	-138M	-170.1M	171.5M	-606.5M	2.21B	72.8M	-95.8M
Cash from Financing+	94.5M	436M	-107.6M	-320.1M	153.8M	194.8M	210.4M	-1.61B	-279.9M	-173.9M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-151.9M	-157.1M	-174.8M	-188.3M	-164.3M	-49M	0	-22.2M	-44.4M	-44.4M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	376M	95.2M	36.6M	50.6M	1.25B	-280.2M	200K	-616.1M	-77.2M	33.1M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	340.3M	205.7M	436.6M	551.8M	380.4M	283M	304.7M	-473.4M	183.4M	238.4M
FCF Margin %	0.13%	0.07%	0.13%	0.15%	0.14%	0.21%	0.21%	-0.31%	0.11%	0.13%
FCF Growth %	0.03%	-0.4%	1.12%	0.26%	-0.31%	-0.26%	0.08%	-2.55%	1.39%	0.3%
FCF per Share	2.39	1.48	3.16	4.07	2.86	2.19	2.48	-4.07	1.68	2.19
FCF Conversion (FCF/Net Income)	2.21x	1.62x	1.63x	2.29x	2.88x	768.80x	6.21x	-1.71x	-1.53x	2.65x
Interest Paid	79.7M	124.5M	147.1M	180.8M	170M	116.6M	112.7M	106.4M	145.2M	140.7M
Taxes Paid	129.9M	121.6M	126M	121.9M	79.2M	16.6M	26M	403.7M	37.3M	36.6M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	14.63%	15.98%	25.12%	22.24%	12.11%	0.03%	4.25%	15.91%	-10.83%	8.23%
Return on Invested Capital (ROIC)	10.25%	11.06%	11.3%	12.25%	6.56%	1.6%	3%	2.76%	-0.22%	8.69%
Gross Margin	43.27%	41.99%	42.53%	43.16%	41.87%	43.91%	45.37%	40.28%	47.26%	39.63%
Net Margin	8.13%	7.06%	10.47%	8.7%	6.78%	0.04%	4.58%	15.77%	-9.37%	6.14%
Debt / Equity	1.35x	1.77x	1.80x	1.82x	1.36x	1.38x	1.29x	0.38x	0.32x	0.21x
Interest Coverage	4.68x	3.60x	3.45x	3.25x	1.66x	0.54x	1.01x	2.36x	-0.03x	8.36x
FCF Conversion	2.21x	1.62x	1.63x	2.29x	2.88x	768.80x	6.21x	-1.71x	-1.53x	2.65x
Revenue Growth	11.63%	19.34%	9.77%	9.01%	-26.2%	-52.3%	9.32%	5.42%	7.58%	8.72%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Marketplace	-	-	-	-	-	-	-	1.14B	1.25B	1.36B
Marketplace Growth	-	-	-	-	-	-	-	-	9.46%	8.44%
Finance	-	-	-	-	-	-	-	375.9M	393.4M	431.1M
Finance Growth	-	-	-	-	-	-	-	-	4.66%	9.58%
ADESA Auctions	1.38B	1.77B	1.94B	2.1B	-	1.92B	1.96B	-	-	-
ADESA Auctions Growth	-	28.22%	9.75%	8.49%	-	-	2.20%	-	-	-
AFC	-	-	-	340.9M	35.2M	31.4M	289.2M	-	-	-
AFC Growth	-	-	-	-	-89.67%	-10.80%	821.02%	-	-	-
PWI	-	-	-	-	34.2M	-	-	-	-	-
PWI Growth	-	-	-	-	-	-	-	-	-	-
IAA	994.4M	1.1B	1.22B	1.33B	-	-	-	-	-	-
IAA Growth	-	10.42%	11.04%	8.83%	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	2.29B	2.74B	3.01B	3.26B	2.27B	1.72B	1.65B	992.9M	1.03B	1.05B
UNITED STATES Growth	-	19.45%	9.96%	8.41%	-30.52%	-24.18%	-4.09%	-39.78%	3.34%	2.69%
Non-US	347.8M	412.5M	447.7M	506.2M	514.4M	468.5M	602.7M	526.5M	619M	734.8M
Non-US Growth	-	18.60%	8.53%	13.07%	1.62%	-8.92%	28.64%	-12.64%	17.57%	18.71%

Frequently Asked Questions

Valuation & Price

OPENLANE, Inc. (KAR) has a price-to-earnings (P/E) ratio of 69.6x. This suggests investors expect higher future growth.

Growth & Financials

OPENLANE, Inc. (KAR) reported $1.93B in revenue for fiscal year 2024. This represents a 2% increase from $1.89B in 2011.

OPENLANE, Inc. (KAR) grew revenue by 8.7% over the past year. This is steady growth.

Yes, OPENLANE, Inc. (KAR) is profitable, generating $170.5M in net income for fiscal year 2024 (6.1% net margin).

Dividend & Returns

Yes, OPENLANE, Inc. (KAR) pays a dividend with a yield of 1.30%. This makes it attractive for income-focused investors.

OPENLANE, Inc. (KAR) has a return on equity (ROE) of 8.2%. This is below average, suggesting room for improvement.

OPENLANE, Inc. (KAR) generated $244.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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OPENLANE, Inc. (KAR) 10-Year Financial Performance & Capital Metrics

KAR • • Industrial / General

Consumer CyclicalAuto DealershipsDigital Automotive MarketplacesOnline Vehicle Auctions

Revenue $1.79B +8.7%
EBITDA $277M +188.1%
Net Income $110M +171.3%
EPS (Diluted) 0.45 +124.7%
Gross Margin 39.63% -16.2%
EBITDA Margin 15.51% +165.0%
Operating Margin 10.19% +3322.8%
Net Margin 6.14% +165.6%
ROE 8.23% +176.0%
ROIC 8.69% +4032.2%
Debt/Equity 0.21 -34.6%
Interest Coverage 8.36 +25141.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 4.4%
✗Profits declining 10.2% over 5 years
✗Sales declining 8.5% over 5 years

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-2.75%

5Y-8.46%

3Y7.23%

TTM12.77%

Profit (Net Income) CAGR

10Y-4.23%

5Y-10.23%

3Y18.23%

TTM137.13%

EPS CAGR

10Y-9.27%

5Y-8.46%

3Y17.13%

TTM358.62%

ROCE

10Y Avg7.36%

5Y Avg3.09%

3Y Avg3.66%

Latest8.47%

Peer Comparison

Online Vehicle Auctions

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KAROPENLANE, Inc.	3.33B	31.30	69.56	8.72%	8.82%	8.36%	7.17%	0.21
CPRTCopart, Inc.	39.93B	41.25	25.94	9.68%	34.24%	16.57%	3.08%	0.01
ACVAACV Auctions Inc.	1.55B	8.98	-18.71	32.4%	-9.89%	-16.74%	3.94%	0.28

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.64B	3.15B	3.46B	3.77B	2.78B	1.33B	1.45B	1.53B	1.65B	1.79B
Revenue Growth %	0.12%	0.19%	0.1%	0.09%	-0.26%	-0.52%	0.09%	0.05%	0.08%	0.09%
Cost of Goods Sold+	1.5B	1.83B	1.99B	2.14B	1.62B	744.3M	792.5M	913.3M	867.6M	1.08B
COGS % of Revenue	0.57%	0.58%	0.57%	0.57%	0.58%	0.56%	0.55%	0.6%	0.53%	0.6%
Gross Profit+	1.14B	1.32B	1.47B	1.63B	1.16B	582.6M	658.1M	615.9M	777.5M	708.7M
Gross Margin %	0.43%	0.42%	0.43%	0.43%	0.42%	0.44%	0.45%	0.4%	0.47%	0.4%
Gross Profit Growth %	0.09%	0.16%	0.11%	0.11%	-0.28%	-0.5%	0.13%	-0.06%	0.26%	-0.09%
Operating Expenses+	714.8M	823.7M	904.8M	1B	850.7M	513.4M	530.6M	521.2M	782.7M	526.5M
OpEx % of Revenue	0.27%	0.26%	0.26%	0.27%	0.31%	0.39%	0.37%	0.34%	0.48%	0.29%
Selling, General & Admin	502M	583.1M	640.2M	732.8M	662M	374.5M	420.7M	436.3M	430.4M	408.6M
SG&A % of Revenue	0.19%	0.19%	0.19%	0.19%	0.24%	0.28%	0.29%	0.29%	0.26%	0.23%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	4.6M	500K	1.9M	3.5M	188.7M	138.9M	109.9M	84.9M	352.3M	117.9M
Operating Income+	427.3M	499M	566M	624.2M	314.1M	69.2M	127.5M	94.7M	-5.2M	182.2M
Operating Margin %	0.16%	0.16%	0.16%	0.17%	0.11%	0.05%	0.09%	0.06%	-0%	0.1%
Operating Income Growth %	0.13%	0.17%	0.13%	0.1%	-0.5%	-0.78%	0.84%	-0.26%	-1.05%	36.04%
EBITDA+	640.1M	739.6M	830.6M	796.6M	502.8M	178.3M	237.4M	194.9M	96.3M	277.4M
EBITDA Margin %	0.24%	0.23%	0.24%	0.21%	0.18%	0.13%	0.16%	0.13%	0.06%	0.16%
EBITDA Growth %	0.11%	0.16%	0.12%	-0.04%	-0.37%	-0.65%	0.33%	-0.18%	-0.51%	1.88%
D&A (Non-Cash Add-back)	212.8M	240.6M	264.6M	172.4M	188.7M	109.1M	109.9M	100.2M	101.5M	95.2M
EBIT	427.3M	499M	562.8M	343.1M	319.6M	63.4M	140M	78.8M	9.3M	179.7M
Net Interest Income+	-91.4M	-138.8M	-163.2M	-191.2M	-189.5M	-128.2M	-125.7M	-40.2M	-155.8M	-21.8M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	91.4M	138.8M	164M	192M	189.5M	128.2M	125.7M	40.2M	155.8M	21.8M
Other Income/Expense	-86.8M	-143.7M	-168M	-188.2M	-184M	-134M	-113.2M	-56.1M	-141.3M	-24.3M
Pretax Income+	340.5M	355.3M	398M	435.7M	130.1M	-64.8M	14.3M	38.6M	-146.5M	157.9M
Pretax Margin %	0.13%	0.11%	0.12%	0.12%	0.05%	-0.05%	0.01%	0.03%	-0.09%	0.09%
Income Tax+	125.9M	132.9M	36M	107.7M	37.7M	-11.2M	15.1M	10M	8.3M	48M
Effective Tax Rate %	0.63%	0.63%	0.91%	0.75%	1.45%	-0.01%	4.65%	6.25%	1.05%	0.7%
Net Income+	214.6M	222.4M	362M	328M	188.5M	500K	66.5M	241.2M	-154.1M	109.9M
Net Margin %	0.08%	0.07%	0.1%	0.09%	0.07%	0%	0.05%	0.16%	-0.09%	0.06%
Net Income Growth %	0.27%	0.04%	0.63%	-0.09%	-0.43%	-1%	132%	2.63%	-1.64%	1.71%
Net Income (Continuing)	214.6M	222.4M	174M	117.6M	92.4M	-53.6M	-800K	28.6M	-154.8M	109.9M
Discontinued Operations	0	0	188M	210.4M	96.1M	54.1M	67.3M	212.6M	700K	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.51	1.60	2.62	2.42	0.70	-0.16	0.28	0.25	-1.82	0.45
EPS Growth %	0.27%	0.06%	0.64%	-0.08%	-0.71%	-1.23%	2.75%	-0.11%	-8.28%	1.25%
EPS (Basic)	1.53	1.62	2.66	2.44	0.70	-0.16	0.28	0.25	-1.82	0.46
Diluted Shares Outstanding	142.3M	139.1M	138M	135.7M	132.9M	129.3M	123M	116.3M	109.1M	109M
Basic Shares Outstanding	140.26M	137.28M	136.09M	134.43M	131.6M	129.3M	123M	116.3M	109.1M	108M
Dividend Payout Ratio	0.71%	0.71%	0.48%	0.57%	0.87%	98%	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	2.45B	2.84B	3.14B	3.31B	3.24B	3.18B	3.39B	3.02B	2.84B	2.85B
Cash & Short-Term Investments	155M	201.8M	317.2M	337.1M	507.6M	752.1M	177.6M	225.7M	93.5M	143M
Cash Only	155M	201.8M	317.2M	337.1M	507.6M	752.1M	177.6M	225.7M	93.5M	143M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	2.14B	2.46B	2.63B	2.46B	2.56B	2.26B	2.89B	2.67B	2.57B	2.57B
Days Sales Outstanding	296.46	285.4	277.09	237.75	335.58	620.63	726.5	636.29	571.05	524.67
Inventory	16.2M	17.9M	19.4M	27.6M	0	0	0	0	0	0
Days Inventory Outstanding	3.95	3.58	3.56	4.7	-	-	-	-	-	-
Other Current Assets	147.2M	176.3M	195.1M	581.7M	179.2M	166.9M	326.9M	130.9M	174.6M	137.6M
Total Non-Current Assets+	3.35B	3.72B	3.85B	3.89B	3.34B	3.62B	4.06B	2.1B	1.88B	1.77B
Property, Plant & Equipment	766.9M	842.5M	908.2M	976.2M	973.1M	940.5M	238.2M	208.4M	245.7M	216.4M
Fixed Asset Turnover	3.44x	3.74x	3.81x	3.86x	2.86x	1.41x	6.09x	7.34x	6.70x	8.26x
Goodwill	1.8B	2.06B	2.19B	2.21B	1.82B	2.14B	1.6B	1.46B	1.27B	1.22B
Intangible Assets	782.9M	816.9M	747M	702.1M	506.4M	501.5M	402.4M	367.2M	317.6M	278.5M
Long-Term Investments	-334.9M	-327.5M	-213.5M	-229.7M	0	0	0	0	0	0
Other Non-Current Assets	34.1M	35.8M	20.8M	41.3M	35.5M	40.8M	1.82B	57.3M	49.9M	53M
Total Assets+	5.79B	6.56B	6.98B	7.21B	6.58B	6.8B	7.45B	5.12B	4.73B	4.62B
Asset Turnover	0.46x	0.48x	0.50x	0.52x	0.42x	0.20x	0.19x	0.30x	0.35x	0.39x
Asset Growth %	0.08%	0.13%	0.07%	0.03%	-0.09%	0.03%	0.1%	-0.31%	-0.08%	-0.02%
Total Current Liabilities+	2.23B	2.33B	2.39B	2.62B	2.52B	2.25B	3.01B	2.64B	2.48B	2.57B
Accounts Payable	608.4M	648.5M	682.7M	691.3M	704.6M	688.9M	785.3M	551.2M	556.6M	547.6M
Days Payables Outstanding	148.29	129.53	125.4	117.76	159.04	337.83	361.68	220.29	234.16	185.1
Short-Term Debt	153.9M	105.2M	12.4M	13.1M	28.8M	24.3M	16.3M	288.7M	154.6M	222.5M
Deferred Revenue (Current)	-1000K	-1000K	-1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	1.28B	1.38B	1.46B	1.73B	1.53B	1.34B	2.09B	1.71B	1.67B	1.7B
Current Ratio	1.10x	1.22x	1.31x	1.26x	1.29x	1.41x	1.13x	1.14x	1.15x	1.11x
Quick Ratio	1.09x	1.21x	1.31x	1.25x	1.29x	1.41x	1.13x	1.14x	1.15x	1.11x
Cash Conversion Cycle	152.11	159.44	155.25	124.69	-	-	-	-	-	-
Total Non-Current Liabilities+	2.18B	2.83B	3.11B	3.12B	2.41B	2.93B	2.93B	958.3M	920.5M	714.1M
Long-Term Debt	1.71B	2.37B	2.67B	2.65B	1.86B	1.85B	1.85B	205.3M	202.4M	0
Capital Lease Obligations	0	0	0	0	358.3M	344.2M	88.1M	79.7M	70.4M	60.4M
Deferred Tax Liabilities	300.8M	291.7M	192.7M	188.4M	134.5M	128.6M	138.4M	54M	20.9M	24.4M
Other Non-Current Liabilities	159.5M	168.5M	442.5M	462.9M	59.2M	605.2M	852.2M	619.3M	626.8M	629.3M
Total Liabilities	4.41B	5.16B	5.5B	5.74B	4.93B	5.18B	5.94B	3.6B	3.4B	3.28B
Total Debt+	1.87B	2.47B	2.68B	2.67B	2.25B	2.22B	1.95B	573.7M	427.4M	282.9M
Net Debt	1.72B	2.27B	2.36B	2.33B	1.74B	1.47B	1.78B	348M	333.9M	139.9M
Debt / Equity	1.35x	1.77x	1.80x	1.82x	1.36x	1.38x	1.29x	0.38x	0.32x	0.21x
Debt / EBITDA	2.93x	3.34x	3.23x	3.35x	4.47x	12.46x	8.23x	2.94x	4.44x	1.02x
Net Debt / EBITDA	2.68x	3.07x	2.84x	2.93x	3.46x	8.25x	7.48x	1.79x	3.47x	0.50x
Interest Coverage	4.68x	3.60x	3.45x	3.25x	1.66x	0.54x	1.01x	2.36x	-0.03x	8.36x
Total Equity+	1.39B	1.4B	1.48B	1.46B	1.65B	1.62B	1.51B	1.52B	1.33B	1.34B
Equity Growth %	-0.1%	0.01%	0.06%	-0.01%	0.13%	-0.02%	-0.06%	0%	-0.13%	0.01%
Book Value per Share	9.74	10.05	10.76	10.79	12.42	12.50	12.30	13.06	12.16	12.32
Total Shareholders' Equity	1.39B	1.4B	1.48B	1.46B	1.65B	1.62B	1.51B	1.52B	1.33B	1.34B
Common Stock	1.4M	1.4M	1.3M	1.3M	1.3M	1.3M	1.2M	1.1M	1.1M	1.1M
Retained Earnings	17.3M	74.1M	257M	392.3M	651M	600.7M	625.7M	822.9M	624.4M	689.8M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-40.2M	-49.3M	-25.2M	-61.2M	-31M	-32.7M	-24.7M	-49.5M	-36.7M	-69.1M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	475M	360.8M	588.8M	749.8M	542M	384.4M	413.2M	-412.5M	235.4M	291.4M
Operating CF Margin %	0.18%	0.11%	0.17%	0.2%	0.19%	0.29%	0.28%	-0.27%	0.14%	0.16%
Operating CF Growth %	0.1%	-0.24%	0.63%	0.27%	-0.28%	-0.29%	0.07%	-2%	1.57%	0.24%
Net Income	214.6M	222.4M	362M	328M	188.5M	500K	66.5M	241.2M	-154.1M	109.9M
Depreciation & Amortization	212.8M	240.6M	264.6M	269.9M	188.7M	191.3M	183M	100.2M	101.5M	95.2M
Stock-Based Compensation	11.7M	18.1M	24.2M	23.4M	19.6M	11.8M	13.2M	16.6M	16.5M	14.7M
Deferred Taxes	5M	-4.2M	-93.5M	100K	-3.3M	-7.2M	7.8M	-2.3M	-29.8M	1.7M
Other Non-Cash Items	21.8M	47.1M	62.1M	49.1M	131.7M	95M	41.9M	-640.8M	327.5M	30.1M
Working Capital Changes	9.1M	-163.2M	-30.6M	79.3M	16.8M	90.8M	98.4M	-127.4M	-26.2M	39.8M
Change in Receivables	-127M	-194.7M	-57.4M	-66.5M	-3M	117.9M	-94.1M	111.3M	-66M	44.4M
Change in Inventory	-220M	-506.2M	-748.2M	-145.8M	-19.8M	27.1M	-192.5M	0	0	0
Change in Payables	136.1M	31.5M	26.8M	145.8M	19.8M	-27.1M	192.5M	-240.8M	0	0
Cash from Investing+	-547.6M	-765.3M	-379.8M	-381.2M	-452.4M	-326.6M	-1.22B	2.14B	-83.5M	-70.9M
Capital Expenditures	-134.7M	-155.1M	-152.2M	-198M	-161.6M	-101.4M	-108.5M	-60.9M	-52M	-53M
CapEx % of Revenue	0.05%	0.05%	0.04%	0.05%	0.06%	0.08%	0.07%	0.04%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-294.8M	-178.1M	-149.3M	-138M	-170.1M	171.5M	-606.5M	2.21B	72.8M	-95.8M
Cash from Financing+	94.5M	436M	-107.6M	-320.1M	153.8M	194.8M	210.4M	-1.61B	-279.9M	-173.9M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-151.9M	-157.1M	-174.8M	-188.3M	-164.3M	-49M	0	-22.2M	-44.4M	-44.4M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	376M	95.2M	36.6M	50.6M	1.25B	-280.2M	200K	-616.1M	-77.2M	33.1M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	340.3M	205.7M	436.6M	551.8M	380.4M	283M	304.7M	-473.4M	183.4M	238.4M
FCF Margin %	0.13%	0.07%	0.13%	0.15%	0.14%	0.21%	0.21%	-0.31%	0.11%	0.13%
FCF Growth %	0.03%	-0.4%	1.12%	0.26%	-0.31%	-0.26%	0.08%	-2.55%	1.39%	0.3%
FCF per Share	2.39	1.48	3.16	4.07	2.86	2.19	2.48	-4.07	1.68	2.19
FCF Conversion (FCF/Net Income)	2.21x	1.62x	1.63x	2.29x	2.88x	768.80x	6.21x	-1.71x	-1.53x	2.65x
Interest Paid	79.7M	124.5M	147.1M	180.8M	170M	116.6M	112.7M	106.4M	145.2M	140.7M
Taxes Paid	129.9M	121.6M	126M	121.9M	79.2M	16.6M	26M	403.7M	37.3M	36.6M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	14.63%	15.98%	25.12%	22.24%	12.11%	0.03%	4.25%	15.91%	-10.83%	8.23%
Return on Invested Capital (ROIC)	10.25%	11.06%	11.3%	12.25%	6.56%	1.6%	3%	2.76%	-0.22%	8.69%
Gross Margin	43.27%	41.99%	42.53%	43.16%	41.87%	43.91%	45.37%	40.28%	47.26%	39.63%
Net Margin	8.13%	7.06%	10.47%	8.7%	6.78%	0.04%	4.58%	15.77%	-9.37%	6.14%
Debt / Equity	1.35x	1.77x	1.80x	1.82x	1.36x	1.38x	1.29x	0.38x	0.32x	0.21x
Interest Coverage	4.68x	3.60x	3.45x	3.25x	1.66x	0.54x	1.01x	2.36x	-0.03x	8.36x
FCF Conversion	2.21x	1.62x	1.63x	2.29x	2.88x	768.80x	6.21x	-1.71x	-1.53x	2.65x
Revenue Growth	11.63%	19.34%	9.77%	9.01%	-26.2%	-52.3%	9.32%	5.42%	7.58%	8.72%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Marketplace	-	-	-	-	-	-	-	1.14B	1.25B	1.36B
Marketplace Growth	-	-	-	-	-	-	-	-	9.46%	8.44%
Finance	-	-	-	-	-	-	-	375.9M	393.4M	431.1M
Finance Growth	-	-	-	-	-	-	-	-	4.66%	9.58%
ADESA Auctions	1.38B	1.77B	1.94B	2.1B	-	1.92B	1.96B	-	-	-
ADESA Auctions Growth	-	28.22%	9.75%	8.49%	-	-	2.20%	-	-	-
AFC	-	-	-	340.9M	35.2M	31.4M	289.2M	-	-	-
AFC Growth	-	-	-	-	-89.67%	-10.80%	821.02%	-	-	-
PWI	-	-	-	-	34.2M	-	-	-	-	-
PWI Growth	-	-	-	-	-	-	-	-	-	-
IAA	994.4M	1.1B	1.22B	1.33B	-	-	-	-	-	-
IAA Growth	-	10.42%	11.04%	8.83%	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	2.29B	2.74B	3.01B	3.26B	2.27B	1.72B	1.65B	992.9M	1.03B	1.05B
UNITED STATES Growth	-	19.45%	9.96%	8.41%	-30.52%	-24.18%	-4.09%	-39.78%	3.34%	2.69%
Non-US	347.8M	412.5M	447.7M	506.2M	514.4M	468.5M	602.7M	526.5M	619M	734.8M
Non-US Growth	-	18.60%	8.53%	13.07%	1.62%	-8.92%	28.64%	-12.64%	17.57%	18.71%

Frequently Asked Questions

Valuation & Price

OPENLANE, Inc. (KAR) has a price-to-earnings (P/E) ratio of 69.6x. This suggests investors expect higher future growth.

Growth & Financials

OPENLANE, Inc. (KAR) reported $1.93B in revenue for fiscal year 2024. This represents a 2% increase from $1.89B in 2011.

OPENLANE, Inc. (KAR) grew revenue by 8.7% over the past year. This is steady growth.

Yes, OPENLANE, Inc. (KAR) is profitable, generating $170.5M in net income for fiscal year 2024 (6.1% net margin).

Dividend & Returns

Yes, OPENLANE, Inc. (KAR) pays a dividend with a yield of 1.30%. This makes it attractive for income-focused investors.

OPENLANE, Inc. (KAR) has a return on equity (ROE) of 8.2%. This is below average, suggesting room for improvement.

OPENLANE, Inc. (KAR) generated $244.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.