The company maintains a fortress-like balance sheet with a conservative 0.09 debt-to-equity ratio and $103.2 million in cash, though this is weighed down by a $606.1 million accumulated deficit.
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Total Current Assets | 125.62M | 135.13M | 163.08M | 197.84M | 269.94M | 324.94M | 239.74M | 255.46M | 243.55M | 152.91M | 152.96M | 184.52M | 69.58M | 38.05M |
| Cash & Short-Term Investments | 103.19M | 111.83M | 135.11M | 175.52M | 245.22M | 273.31M | 181.53M | 196.13M | 197.76M | 107.72M | 112.37M | 147.54M | 43.82M | 22.06M |
| Cash Only | 103.19M | 111.83M | 135.11M | 175.52M | 245.22M | 273.31M | 181.53M | 196.13M | 197.76M | 107.72M | 112.37M | 147.54M | 43.82M | 22.06M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 13.46M | 15.74M | 18.26M | 13.79M | 16.71M | 32.92M | 38.24M | 47.76M | 39.17M | 36.87M | 33.76M | 28.75M | 18.8M | 11.23M |
| Days Sales Outstanding | 31.18 | 32.72 | 42 | 31.15 | 26.32 | 43.12 | 41.66 | 49.3 | 44.24 | 48.49 | 47.42 | 50.78 | 51.23 | 51.3 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.47M | 5.47M | 6.04M | 6.05M | 5.19M | 5.55M | 4.1M |
| Days Inventory Outstanding | - | - | - | - | - | - | - | 87.5 | 70.8 | 87.66 | 93.31 | 108.23 | 132.45 | 110.42 |
| Other Current Assets | 2.96M | 3.05M | 3.64M | 2.56M | 1.87M | 12.9M | 12.81M | 4.1M | 1.15M | 2.28M | 779K | 3.04M | 3.4M | 3.16M |
| Total Non-Current Assets | 23.07M | 24.56M | 41.24M | 53.69M | 117.73M | 133.12M | 181.95M | 165.5M | 141.28M | 141.54M | 149.41M | 112.43M | 105.17M | 107.19M |
| Property, Plant & Equipment | 15.69M | 18.09M | 29.01M | 35.84M | 42.76M | 50.61M | 63.84M | 61.51M | 70.71M | 66.94M | 71.39M | 30.73M | 15.24M | 12.84M |
| Fixed Asset Turnover | 10.69x | 9.71x | 5.47x | 4.51x | 5.42x | 5.51x | 5.25x | 5.75x | 4.57x | 4.15x | 3.64x | 6.72x | 8.79x | 6.22x |
| Goodwill | 0 | 0 | 0 | 0 | 51.2M | 51.2M | 59.47M | 73.31M | 53.27M | 53.27M | 53.27M | 53.27M | 53.27M | 53.27M |
| Intangible Assets | 0 | 1.97M | 8.38M | 13.97M | 4.95M | 6.6M | 9M | 23.45M | 15.91M | 19.77M | 23.82M | 27.95M | 31.83M | 36.23M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 14.5M | 19.91M | 21.89M | 1.2M | -7.08M | -9.18M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 7.37M | 4.51M | 3.85M | 3.88M | 4.32M | 4.8M | 27.74M | -2.51M | 1.39M | 1.55M | 940K | 482K | 4.83M | 4.85M |
| Total Assets | 148.69M | 159.69M | 204.32M | 251.53M | 387.67M | 458.06M | 421.69M | 420.96M | 384.83M | 294.45M | 302.37M | 296.95M | 174.75M | 145.24M |
| Asset Turnover | 1.22x | 1.10x | 0.78x | 0.64x | 0.60x | 0.61x | 0.79x | 0.84x | 0.84x | 0.94x | 0.86x | 0.70x | 0.77x | 0.55x |
| Asset Growth % | -81.77% | -21.84% | -18.77% | -35.12% | -15.37% | 8.63% | 0.17% | 9.39% | 30.7% | -2.62% | 1.83% | 69.93% | 20.31% | - |
| Total Current Liabilities | 27.96M | 32.89M | 28.98M | 30.78M | 31.48M | 42.88M | 54.17M | 41.56M | 37.98M | 35.36M | 39.1M | 38.85M | 30.94M | 44.84M |
| Accounts Payable | 9.07M | 7.93M | 6.88M | 8.65M | 11.36M | 13.2M | 21.32M | 26.3M | 18.62M | 13.83M | 18.88M | 12.83M | 9.17M | 5.71M |
| Days Payables Outstanding | 90.83 | 109.66 | 158.26 | 194.85 | 186.51 | 223.55 | 279.63 | 308.19 | 240.77 | 200.53 | 291.3 | 267.32 | 218.9 | 153.6 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.76M | 23.7M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 500K | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 3.98M | 4.89M | 6.67M | 7.38M | 5.19M | 6.51M | 6.72M | 2.01M | 2.27M | 0 | 2.41M | 500K | 1.03M | 9.29M |
| Current Ratio | 4.49x | 4.11x | 5.63x | 6.43x | 8.57x | 7.58x | 4.43x | 6.15x | 6.41x | 4.32x | 3.91x | 4.75x | 2.25x | 0.85x |
| Quick Ratio | 4.49x | 4.11x | 5.63x | 6.43x | 8.57x | 7.58x | 4.43x | 5.97x | 6.27x | 4.15x | 3.76x | 4.62x | 2.07x | 0.76x |
| Cash Conversion Cycle | -59.65 | - | - | - | - | - | - | -171.39 | -125.73 | -64.39 | -150.56 | -108.31 | -35.23 | 8.12 |
| Total Non-Current Liabilities | 6.54M | 8.66M | 15.13M | 23.48M | 26.4M | 32.4M | 40.25M | 32.84M | 33.74M | 34.51M | 30.58M | 8.9M | 31.63M | 2.2M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 29.04M | 8.31M | 11.17M | 18.5M | 26.3M | 31.97M | 37.13M | 22.99M | 29.13M | 28.83M | 26.99M | 6.09M | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 103K | 40K | 783K | 568K | 812K | 2.99M | 2.41M | 2.25M | 1.79M | 684K |
| Other Non-Current Liabilities | 348K | 348K | 3.96M | 4.98M | 0 | 388K | 2.34M | 9.29M | 3.8M | 2.68M | 1.18M | 562K | 29.84M | 1.52M |
| Total Liabilities | 34.51M | 41.55M | 44.1M | 54.26M | 57.88M | 75.28M | 94.42M | 74.41M | 71.72M | 69.87M | 69.68M | 47.75M | 62.57M | 47.05M |
| Total Debt | 9.88M | 11.28M | 14.41M | 23.01M | 31.55M | 36.74M | 43M | 22.99M | 29.13M | 28.83M | 26.99M | 6.09M | 4.76M | 23.7M |
| Net Debt | -93.3M | -100.56M | -120.7M | -152.5M | -213.66M | -236.57M | -138.53M | -173.14M | -168.63M | -78.89M | -85.38M | -141.45M | -39.05M | 1.63M |
| Debt / Equity | 0.09x | 0.10x | 0.09x | 0.12x | 0.10x | 0.10x | 0.13x | 0.07x | 0.09x | 0.13x | 0.12x | 0.02x | 0.04x | 0.24x |
| Debt / EBITDA | -0.52x | - | - | - | - | 5.06x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 4.91x | - | - | - | - | -32.57x | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | -11.01x | -12.90x | -15.38x | -144.43x | -125.01x | -11.38x | -21.42x |
| Total Equity | 114.18M | 118.14M | 160.22M | 197.27M | 329.79M | 382.78M | 327.27M | 346.55M | 313.12M | 224.58M | 232.69M | 249.2M | 112.18M | 98.2M |
| Equity Growth % | -91.93% | -26.26% | -18.78% | -40.18% | -13.84% | 16.96% | -5.56% | 10.68% | 39.42% | -3.49% | -6.62% | 122.14% | 14.24% | - |
| Book Value per Share | 1.28 | 1.31 | 1.78 | 2.16 | 3.39 | 3.60 | 3.09 | 3.39 | 3.30 | 2.66 | 2.84 | 3.52 | 1.78 | 1.56 |
| Total Shareholders' Equity | 114.18M | 118.14M | 160.22M | 197.27M | 329.79M | 382.78M | 327.27M | 346.55M | 313.12M | 224.58M | 232.69M | 249.2M | 112.18M | 98.2M |
| Common Stock | 9K | 9K | 9K | 9K | 10K | 10K | 11K | 10K | 10K | 9K | 8K | 8K | 6K | 6K |
| Retained Earnings | -606.11M | -593.35M | -562.3M | -512.53M | -393.85M | -355.52M | -432.06M | -373.48M | -351.08M | -318.24M | -275.9M | -210.99M | -162.56M | -137.5M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -17.37M | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -81.69M | -65.28M | -48.11M | -29.61M | -19.92M | -11.85M | -7.71M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Persistent negative operating margins
As reported in financial statements, TrueCar's total assets have declined from $216.7 million in 2023Q2 to $148.7 million by 2025Q3, a trend that suggests a deliberate downsizing of the balance sheet as the company pivots away from legacy operations toward a more streamlined digital retailing model.
The consistent reduction in total assets appears to be a byproduct of the company's strategic shift and the shedding of non-core assets. Investors should monitor whether this contraction represents a healthy optimization of the business or a loss of competitive scale in the digital automotive marketplace.
Based on recent SEC filings, TrueCar maintains a conservative capital structure with total debt of only $9.9 million against $114.2 million in equity, resulting in a debt-to-equity ratio of 0.09 that provides significant insulation against the volatility inherent in the automotive retail sector.
The company's minimal reliance on debt suggests that management is prioritizing balance sheet stability over aggressive, leverage-fueled expansion. This low-leverage profile is a critical defensive feature, as it mitigates refinancing risk during periods of operational underperformance or industry-wide demand downturns.
According to the latest quarterly data, TrueCar holds $103.2 million in cash, which, when combined with a current ratio of 4.49, indicates a robust liquidity position that serves as a primary buffer against the company's ongoing operational cash burn and strategic transition costs.
The high current ratio suggests that the company is well-positioned to meet its short-term obligations without needing to access external capital markets. However, the steady decline in cash from $145.5 million in 2023Q3 warrants investigation into the long-term sustainability of this liquidity cushion if operating losses persist.
As indicated by the company's financial statements, retained earnings have reached a deficit of $606.1 million as of 2025Q3, a figure that highlights the long-term impact of historical operating losses and the significant challenges the company faces in achieving sustained GAAP profitability.
The persistent negative retained earnings suggest that the company has struggled to generate consistent shareholder value through core operations over the long term. Investors should consider whether the current equity base is sufficient to support future growth initiatives or if further dilution may be required to fund the ongoing digital retailing pivot.
Quick answers to the most common questions about buying TRUE stock.
As of 2024, TrueCar, Inc. (TRUE) had total assets of $159.7M including $135.1M in current assets.
TrueCar, Inc. (TRUE) carries total debt of $11.3M, offset by $111.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
TrueCar, Inc. (TRUE) has total shareholders' equity (book value) of $118.1M ($1.31 book value per share). Book value represents the net worth of the company belonging to common stock holders.
TrueCar, Inc. (TRUE) reported a current ratio of 4.11x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.