Openlane Inc. (KAR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 25	$0.27	$0.35	+29.6%	—	$498.4M	—
Q2 25	$0.22	$0.33	+50.0%	—	$481.7M	—
Q1 25	$0.22	$0.31	+40.9%	—	$460.1M	—
Q4 24	$0.21	$0.21	0.0%	—	$492M	—
Q3 24	$0.22	$0.26	+18.2%	—	$448.4M	—
Q2 24	$0.21	$0.19	-9.5%	—	$431.8M	—
Q1 24	$0.21	$0.19	-9.5%	—	$416.3M	—
Q4 23	$0.13	$0.16	+23.1%	—	$391.3M	—
Q3 23	$0.15	$0.18	+20.0%	—	$416.3M	—
Q2 23	$0.12	$0.25	+108.3%	—	$416.9M	—
Q1 23	$0.09	$0.12	+33.3%	—	$420.6M	—
Q4 22	$0.18	$0.33	+83.3%	—	$372.8M	—
Q3 22	$0.13	$0.09	-30.8%	—	$393M	—
Q2 22	$0.09	$0.04	-55.6%	—	$384.2M	—
Q1 22	$0.13	-$0.02	-115.4%	—	$369.4M	—
Q4 21	$0.02	$0.11	+450.0%	—	$549.4M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY24	—	$0.46	—	—	$1.8B	—
FY23	—	-$1.82	—	—	$1.6B	—
FY22	—	$1.3	—	—	$1.5B	—
FY21	—	$0.16	—	—	$1.5B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24
Revenue	$2.7B	$3.2B	$2.2B	$2.4B	$2.8B	$1.3B	$1.5B	$1.5B	$1.6B	$1.8B
YoY change	+11.3%	+17.1%	-28.9%	+9.11%	+13.9%	-52.3%	+9.32%	+4.74%	+8.27%	+8.72%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24
Revenue	2.7B	3.2B	2.2B	2.4B	2.8B	1.3B	1.5B	1.5B	1.6B	1.8B
Cost of revenue	1.5B	1.8B	1.2B	1.3B	1.6B	744.3M	792.5M	834.3M	867.6M	1.1B
Gross profit	1.1B	1.3B	1B	1.1B	1.2B	582.6M	658.1M	685.1M	777.5M	708.7M
Gross margin	42.4%	42%	46%	45.9%	41.9%	43.9%	45.4%	45.1%	47.3%	39.6%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	502M	583.1M	531.7M	608.8M	662M	374.5M	420.7M	445.1M	430.4M	408.6M
Operating expenses	502M	583.1M	531.7M	608.8M	662M	374.5M	420.7M	445.1M	430.4M	408.6M
Operating income	427.3M	499M	326.5M	340.1M	314.1M	99M	127.5M	139.8M	245.6M	150.6M
Operating margin	15.9%	15.8%	14.6%	13.9%	11.3%	7.46%	8.79%	9.2%	14.9%	8.42%
Non-operating income, net	4.6M	-4.9M	-4.9M	3M	5.5M	-35.6M	12.5M	18M	-236.3M	29.1M
Pretax income	340.5M	355.3M	158.4M	151.9M	130.1M	-64.8M	14.3M	38.6M	-146.5M	157.9M
Income tax	125.9M	132.9M	-15.6M	34.3M	37.7M	-11.2M	15.1M	10M	8.3M	48M
Net income	214.6M	222.4M	362M	328M	188.5M	500K	66.5M	241.2M	-154.1M	109.9M
Net margin	7.98%	7.06%	16.2%	13.4%	6.78%	0.04%	4.58%	15.9%	-9.37%	6.14%
EBITDA	644.7M	740.1M	520.6M	515.5M	510.5M	214M	244.6M	250.9M	351.8M	248.7M
EPS	1.53	1.62	2.66	2.44	1.43	-0.16	0.16	1.3	-1.82	0.46
Diluted EPS	1.51	1.6	2.62	2.42	1.42	-0.16	0.16	1.3	-1.82	0.45

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25
Revenue	372.8M	420.6M	416.9M	416.3M	391.3M	416.3M	431.8M	448.4M	492M	460.1M	481.7M	498.4M
Cost of revenue	202M	224.2M	222.6M	216M	204.8M	213.9M	245.9M	252M	368M	269.2M	281.3M	298.3M
Gross profit	170.8M	196.4M	194.3M	200.3M	186.5M	202.4M	185.9M	196.4M	124M	190.9M	200.4M	200.1M
Gross margin	45.8%	46.7%	46.6%	48.1%	47.7%	48.6%	43.1%	43.8%	25.2%	41.5%	41.6%	40.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	93M	108M	111.2M	107.4M	103.8M	108.7M	106M	99.4M	94.5M	107.2M	114.3M	110.9M
Operating expenses	93M	108M	111.2M	107.4M	103.8M	108.7M	106M	99.4M	94.5M	107.2M	114.3M	110.9M
Operating income	53.8M	65.4M	56.3M	66.5M	57.4M	69.4M	55.8M	73.2M	-47.8M	51.7M	54.4M	55M
Operating margin	14.4%	15.5%	13.5%	16%	14.7%	16.7%	12.9%	16.3%	-9.72%	11.2%	11.3%	11%
Non-operating income, net	41.4M	-6.9M	-230.6M	-1.7M	3.1M	-500K	-200K	3.6M	26.2M	5M	400K	2.2M
Pretax income	59.8M	20M	-213.1M	25.4M	21.2M	29.2M	18.2M	41.5M	69M	52.7M	51.7M	56.1M
Income tax	17.9M	7.3M	-19.3M	12.7M	7.6M	10.7M	7.5M	13.1M	16.7M	15.8M	18.3M	8.2M
Net income	37.1M	12.7M	-193.8M	12.7M	14.3M	18.5M	10.7M	28.4M	52.3M	36.9M	33.4M	47.9M
Net margin	9.95%	3.02%	-46.5%	3.05%	3.65%	4.44%	2.48%	6.33%	10.6%	8.02%	6.93%	9.61%
EBITDA	80M	92.3M	85.8M	90.5M	83M	95.2M	80.2M	97.4M	-24.1M	76.1M	79.2M	78.3M
EPS	0.18	0.01	-1.87	0.01	0.02	0.05	-0	0.12	0.29	0.18	0.16	0.26
Diluted EPS	0.18	0.01	-1.87	0.01	0.02	0.05	-0	0.12	0.29	0.18	0.15	0.25

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Market cap	2B	2.2B	2.6B	2.4B	2.9B	2.4B	1.9B	—	1.6B	2.1B	3.7B
Enterprise value	3.7B	4.5B	5B	4.8B	4.6B	3.9B	3.7B	—	1.9B	2.3B	5.7B
Shares outstanding	140.3M	137.3M	136.1M	134.4M	131.8M	129.7M	121.2M	108.9M	109.1M	106.8M	106.8M

Valuation

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
P/E	9.16	9.96	7.19	7.4	15.2	4.8K	28.5	—	—	19.3	35.5
P/S	0.73	0.7	1.16	0.99	1.03	1.82	1.3	—	0.98	1.19	1.73
P/B	1.42	1.58	1.75	1.66	1.74	1.49	1.25	—	1.22	1.58	2.3
EV/EBITDA	5.7	6.06	9.54	9.35	9.04	18.1	15	—	5.54	9.09	13.4
EV/Sales	1.37	1.42	2.22	1.97	1.66	2.93	2.53	—	1.19	1.26	2.99
Earnings yield	10.9%	10%	13.9%	13.5%	6.56%	0.02%	3.51%	—	—	5.18%	2.82%
FCF yield	17.7%	10.1%	19.2%	24.4%	13.2%	13.3%	18.4%	—	11.4%	11.2%	-2.49%
PEG	—	—	—	—	—	—	—	—	—	—	0.3

Profitability

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Gross margin	42.4%	42%	46%	45.9%	41.9%	43.9%	45.4%	45.1%	47.3%	39.6%	40.1%
Operating margin	15.9%	15.8%	14.6%	13.9%	11.3%	7.46%	8.79%	9.2%	14.9%	8.42%	16.7%
Net margin	7.98%	7.06%	16.2%	13.4%	6.78%	0.04%	4.58%	15.9%	-9.37%	6.14%	9%
ROE	15.5%	15.9%	24.4%	22.4%	11.4%	0.03%	4.4%	15.9%	-11.6%	8.19%	8.57%
ROA	3.72%	3.39%	5.18%	4.55%	2.86%	0.01%	0.89%	4.71%	-3.26%	2.38%	4.38%
ROIC	8.7%	8.52%	8.49%	6.83%	6.58%	3.21%	0%	5.55%	14.8%	7.07%	6.11%
Return on tangible assets	29.7%	25.2%	31.5%	11.5%	9.79%	0.03%	1.93%	16.6%	-9.95%	6.79%	9.34%

Financial health

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Current ratio	1.1	1.22	1.31	1.26	1.29	1.41	1.13	1.14	1.15	1.11	1.16
Quick ratio	1.1	1.22	1.31	1.26	1.29	1.41	1.13	1.14	1.15	1.11	1.16
Debt / equity	1.35	1.77	1.8	1.82	1.36	1.38	1.29	0.38	0.32	0.21	0.93
Debt / assets	0.32	0.38	0.38	0.37	0.34	0.33	0.26	0.11	0.09	0.06	0.01
Net debt / EBITDA	2.65	3.07	4.54	4.64	3.41	6.87	7.26	1.39	0.95	0.56	-0.23
Interest coverage	4.73	3.56	1.97	1.79	1.69	0.49	1.11	1.32	0.06	8.24	1.49
Effective tax rate	37%	37.4%	0%	22.6%	29%	0%	100%	25.9%	0%	30.4%	25.7%

Per share

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Revenue per share	19.2	22.9	16.5	18.2	21.1	10.2	12	14	15.1	16.7	17.7
EPS (basic)	1.53	1.62	2.66	2.44	1.43	-0.16	0.16	1.3	-1.82	0.46	0.46
EPS (diluted)	1.51	1.6	2.62	2.42	1.42	-0.16	0.16	1.3	-1.82	0.45	0.87
Book value per share	9.88	10.2	10.9	10.9	12.5	12.5	12.5	13.9	12.2	12.6	13.4
FCF per share	2.48	1.62	3.68	4.4	2.89	2.48	2.88	-4.74	1.68	2.23	2.3
Cash per share	1.11	1.47	2.33	2.06	3.85	5.8	1.47	2.07	0.86	1.34	1.12
Capex per share	0.96	1.13	0.71	0.98	1.23	0.48	0.53	0.19	0.47	0.49	0.64

Capital allocation

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Capex / revenue	5%	4.92%	4.35%	5.37%	5.81%	4.73%	4.43%	1.39%	3.14%	2.91%	3.51%
Capex / operating cash flow	41.2%	51.6%	30.9%	48%	50.7%	47.9%	76.2%	8.94%	-41.6%	19%	27.5%
Payout ratio	70.8%	70.6%	48.3%	57.4%	87.2%	9.8K%	0%	9.2%	-28.8%	40.4%	0%
Dividend yield	7.73%	7.09%	6.72%	7.76%	5.72%	2.03%	0%	—	2.75%	2.09%	2.18%

Yield

2.18%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.19

ex-dividend Mar 19, 2020

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Mar 19, 2020	$0.19
Dec 19, 2019	$0.19
Sep 19, 2019	$0.19
May 31, 2019	$0.1325
Mar 21, 2019	$0.1325
Dec 19, 2018	$0.1325
Sep 19, 2018	$0.1325
Jun 20, 2018

Period	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25
Revenue	$372.8M	$420.6M	$416.9M	$416.3M	$391.3M	$416.3M	$431.8M	$448.4M	$492M	$460.1M	$481.7M	$498.4M
YoY change	-32.1%	+13.9%	+8.51%	+5.93%	+4.96%	-1.02%	+3.57%	+7.71%	+25.7%	+10.5%	+11.6%	+11.2%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24
Cash & short-term investments	155M	201.8M	317.2M	277.1M	507.6M	752.1M	177.6M	225.7M	93.5M	143M
Receivables	511.9M	682.9M	725.5M	454.6M	457.5M	367.2M	381.3M	270.7M	291.8M	248.2M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	2.4B	2.8B	3.1B	3.3B	3.2B	3.2B	3.4B	3B	2.8B	2.9B
Property, plant & equipment	201.5M	213.3M	221.9M	293.4M	592.2M	545.8M	150.9M	125.4M	152.8M	128.4M
Goodwill & intangibles	5B	5.7B	5.8B	4.4B	4.7B	5.3B	4B	3.7B	3.2B	3B
Total assets	5.8B	6.6B	7B	7.2B	6.6B	6.8B	7.5B	5.1B	4.7B	4.6B
Accounts payable	608.4M	648.5M	682.7M	691.3M	704.6M	688.9M	785.3M	551.2M	556.6M	547.6M
Short-term debt	153.9M	105.2M	12.4M	13.1M	28.8M	24.3M	16.3M	288.7M	154.6M	222.5M
Total current liabilities	2.2B	2.3B	2.4B	2.6B	2.5B	2.3B	3B	2.6B	2.5B	2.6B
Long-term debt	1.7B	2.4B	2.7B	2.7B	2.2B	2.2B	1.9B	285M	272.8M	60.4M
Total liabilities	4.4B	5.2B	5.5B	5.7B	4.9B	5.2B	5.9B	3.6B	3.4B	3.3B
Shareholders' equity	1.4B	1.4B	1.5B	1.5B	1.7B	1.6B	1.5B	1.5B	1.3B	1.3B
Total debt	1.9B	2.5B	2.7B	2.7B	2.2B	2.2B	2B	573.7M	427.4M	282.9M
Net debt	1.7B	2.3B	2.4B	2.4B	1.7B	1.5B	1.8B	348M	333.9M	139.9M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25
Cash & short-term investments	225.7M	219.6M	242.4M	110.3M	93.5M	105.2M	60.9M	132.1M	143M	220.5M	119.1M	119.3M
Receivables	270.7M	340.3M	314.7M	340M	291.8M	391M	292.1M	300M	248.2M	345.4M	305.9M	354.1M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	3B	3.1B	3.1B	2.9B	2.8B	3B	2.8B	2.8B	2.9B	3B	2.9B	3.1B
Property, plant & equipment	125.4M	203M	198.7M	192.8M	152.8M	236.5M	231.7M	230.2M	128.4M	211.7M	167.1M	162.5M
Goodwill & intangibles	3.7B	3.7B	3.1B	3.1B	3.2B	3.1B	3.1B	3.1B	3B	3B	3B	3B
Total assets	5.1B	5.1B	4.9B	4.7B	4.7B	4.8B	4.6B	4.6B	4.6B	4.8B	4.6B	4.8B
Accounts payable	551.2M	683.8M	625.7M	646.4M	556.6M	744.1M	600.3M	650.8M	547.6M	710.4M	645M	690.7M
Short-term debt	288.7M	225.8M	187.9M	42.3M	154.6M	120.4M	272M	267.8M	222.5M	225.8M	—	15.8M
Total current liabilities	2.6B	2.7B	2.6B	2.5B	2.5B	2.6B	2.6B	2.6B	2.6B	2.7B	2.5B	2.7B
Long-term debt	285M	283.5M	275.9M	273.8M	272.8M	267.9M	65.5M	64.1M	60.4M	58.2M	56.8M	54.8M
Total liabilities	3.6B	3.6B	3.6B	3.4B	3.4B	3.5B	3.3B	3.3B	3.3B	3.4B	3.2B	3.4B
Shareholders' equity	1.5B	1.5B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.4B	1.4B	1.4B
Total debt	573.7M	509.3M	463.8M	316.1M	427.4M	388.3M	337.5M	331.9M	282.9M	284M	56.8M	70.6M
Net debt	348M	289.7M	221.4M	205.8M	333.9M	283.1M	276.6M	199.8M	139.9M	63.5M	-62.3M	-48.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24
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	171.5M	172.4M	188.7M	109.1M	109.9M	100.2M	101.5M	95.2M
Stock-based compensation	11.7M	18.1M	20.4M	19.6M	19.6M	11.8M	13.2M	16.6M	16.5M	14.7M
Change in working capital	-127M	-194.7M	4.1M	-49M	-3M	42.6M	-81M	107.7M	-66M	44.4M
Operating cash flow	326.3M	300.5M	315.2M	273.8M	318.7M	131.2M	84.2M	235.9M	-124.2M	274.7M
Capital expenditure	-134.4M	-155.1M	-97.3M	-131.3M	-161.6M	-62.8M	-64.2M	-21.1M	-51.7M	-52.1M
Investing cash flow	-547.6M	-763.6M	-323.2M	-315.1M	-415M	-288.9M	-1.2B	70M	-90.5M	-70.9M
Dividends paid	-151.9M	-157.1M	-174.8M	-188.3M	-164.3M	-49M	0	-22.2M	-44.4M	-44.4M
Share repurchases	-227.6M	-80.4M	-150M	-150M	-119.7M	-10.2M	-180.9M	-182.2M	-22.2M	-30M
Financing cash flow	75.4M	436.6M	-113.5M	-351.5M	-1.2B	197.5M	186.5M	-1.6B	-340.8M	-175.3M
Net change in cash	-145.9M	-26.5M	-121.5M	-392.8M	-1.3B	39.8M	-915.7M	-1.3B	-555.5M	28.5M
Free cash flow	347.4M	222.9M	500.2M	591.6M	380.4M	321.6M	349M	-515.9M	183.4M	238.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25
Net income	37.1M	12.7M	-193.8M	12.7M	14.3M	18.5M	10.7M	28.4M	52.3M	36.9M	33.4M	47.9M
Depreciation & amortization	24M	23M	26.8M	26.4M	25.3M	24.3M	24.1M	23.8M	23M	22.7M	23M	22.7M
Stock-based compensation	-6M	3.6M	5.3M	4.2M	3.4M	6.6M	3.5M	3.8M	800K	1.7M	4.1M	4.1M
Change in working capital	130.9M	-96.4M	20.2M	-17.8M	28M	-113.6M	89.9M	-12.4M	80.5M	-109.3M	54.2M	-65.7M
Operating cash flow	169.1M	-54M	-169.8M	30M	-35.1M	-63.4M	132.6M	44.9M	160.6M	-43.2M	117.3M	12.5M
Capital expenditure	24.7M	-12M	-14.6M	-12.9M	-12.2M	-12.9M	-12.7M	-12.5M	-14M	-11.5M	27.8M	-14.6M
Investing cash flow	157.4M	-13.6M	-38M	12.4M	-51.3M	-39.7M	45.6M	4.5M	-162M	-31.9M	2.5M	-166.1M
Dividends paid	-11.1M	-11.1M	-11.1M	-11.1M	-11.1M	-11.1M	-11.1M	-11.1M	-11.1M	-11.1M	-11.1M	-11.1M
Share repurchases	-50M	—	—	-22.2M	0	—	—	-30M	0	-100K	-9.3M	-26.4M
Financing cash flow	-56M	-180.7M	-34.9M	-161.5M	83.3M	-97.2M	-86.3M	-98M	90M	-26M	-199.1M	81M
Net change in cash	270.5M	-248.3M	-242.7M	-119.1M	-3.1M	-200.3M	91.9M	-48.6M	88.6M	-101.1M	-79.3M	-72.6M
Free cash flow	-48M	84.1M	31.5M	60.7M	7.1M	87.3M	24.4M	108M	18.7M	110.7M	57.4M	57.6M

Openlane Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history