Loading…
OPENLANE, Inc., together with its subsidiaries, operates as a digital marketplace for wholesale used vehicles in the United States, Canada, Continental Europe, and the United Kingdom. The company operates through two segments, Marketplace and Finance. The Marketplace segment includes various activities designed to facilitate the transfer of used vehicles for sellers and buyers; vehicle logistics center locations; SaaS-based private label remarketing solutions to automobile manufacturers, captive finance companies, and other commercial customers to digitally offer vehicles for sale; wholesale vehicle marketplaces; and value-added ancillary services including inbound and outbound transportation logistics, reconditioning and mechanical work, vehicle inspection and certification, titling, administrative, and collateral recovery services. This segment sells its products and services through commercial fleet operators, financial institutions, car rental companies, new and used vehicle dealers, and vehicle manufacturers. Its marketplaces include OPENLANE platform, a mobile app enabled solutions that allows dealers to sell and source inventory. The Finance segment offers floorplan financing, a short-term inventory-secured financing to independent vehicle dealers; liquidity for customer trade-ins; and title services. In addition, the company provides pre- and post-sale inspection; transportation and logistics; digital marketplace services; remarketing services; and vehicle research services. 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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.9B | $302M | $178M | $337M | 14.3% | 8.2% | 61.7% |
| 2024 | $1.8B | $275M | $110M | $240M | 8.2% | 5.5% | -171.3% |
| 2023 | $1.7B | $-20M | $-154M | $185M | -11.6% | 10.9% | -163.9% |
| 2022 | $1.5B | $179M | $241M | $-516M | 15.9% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,529.20 | 1,695.70 | 1,788.50 | 1,934.50 |
| Operating Revenue | - | 1,529.20 | 1,695.70 | 1,788.50 | 1,934.50 |
| Cost Of Revenue | - | 913.30 | 998.20 | 1,079.80 | 1,151.60 |
| Gross Profit | - | 615.90 | 697.50 | 708.70 | 782.90 |
| Operating Expense | - | 555.10 | 582.50 | 558.10 | 579.30 |
| Selling General And Administration | - | 436.30 | 421.80 | 408.60 | 445.20 |
| Total Expenses | - | 1,468.40 | 1,580.70 | 1,637.90 | 1,730.90 |
| Operating Income | - | 60.80 | 115 | 150.60 | 203.60 |
| Total Operating Income As Reported | - | 94.70 | -135.80 | 182.20 | 196.60 |
| EBITDA | - | 179 | -19.80 | 274.90 | 302 |
| Normalized EBITDA | - | 171.90 | 221.20 | 248.70 | 299.70 |
| EBIT | - | 78.80 | -121.30 | 179.70 | 210.30 |
| Interest Expense | - | 40.20 | 25.20 | 21.80 | 18.10 |
| Net Interest Income | - | -40.20 | -25.20 | -21.80 | -18.10 |
| Other Non Operating Income Expenses | - | 10.90 | 4.70 | 2.90 | 4.40 |
| Other Income Expense | - | 18 | -236.30 | 29.10 | 6.70 |
| Interest Expense Non Operating | - | 40.20 | 25.20 | 21.80 | 18.10 |
| Net Non Operating Interest Income Expense | - | -40.20 | -25.20 | -21.80 | -18.10 |
| Pretax Income | - | 38.60 | -146.50 | 157.90 | 192.20 |
| Tax Provision | - | 10 | 8.30 | 48 | 14.50 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 1.84 | -50.61 | 7.96 | 0.17 |
| Net Income Continuous Operations | - | 28.60 | -154.80 | 109.90 | 177.70 |
| Net Income From Continuing And Discontinued Operation | - | 241.20 | -154.10 | 109.90 | 177.70 |
| Net Income From Continuing Operation Net Minority Interest | - | 28.60 | -154.80 | 109.90 | 177.70 |
| Net Income | - | 241.20 | -154.10 | 109.90 | 177.70 |
| Net Income Common Stockholders | - | 201.20 | -199.20 | 49.20 | -103.10 |
| Net Income Including Noncontrolling Interests | - | 241.20 | -154.10 | 109.90 | 177.70 |
| Normalized Income | - | 23.34 | 35.59 | 91.66 | 175.57 |
| Diluted NI Availto Com Stockholders | - | 201.20 | -199.20 | 49.20 | -103.10 |
| Basic Average Shares | - | 108.91 | 84.67 | 106.85 | 107.40 |
| Diluted Average Shares | - | 108.91 | 84.67 | 106.85 | 107.40 |
| Reconciled Depreciation | - | 100.20 | 101.50 | 95.20 | 91.70 |
| Reconciled Cost Of Revenue | - | 913.30 | 998.20 | 1,079.80 | 1,151.60 |
| Total Unusual Items | - | 7.10 | -241 | 26.20 | 2.30 |
| Total Unusual Items Excluding Goodwill | - | 7.10 | -241 | 26.20 | 2.30 |
| Preferred Stock Dividends | - | 43.60 | 44.40 | 44.40 | 280.80 |
| Net Income Discontinuous Operations | - | 212.60 | 0.70 | 0 | 0 |
| Special Income Charges | - | 16.70 | -243.50 | 31.60 | -7 |
| Gain On Sale Of Business | - | 0 | 0 | 31.60 | 0 |
| Other Special Charges | - | 17.20 | -18.90 | - | - |
| Write Off | - | 0 | 10.30 | 0 | 0 |
| Impairment Of Capital Assets | - | 0 | 250.80 | 0 | 0 |
| Restructuring And Mergern Acquisition | - | 0 | 1.30 | 0 | 0 |
| Gain On Sale Of Security | - | -9.60 | 2.50 | -5.40 | 9.30 |
| Depreciation Amortization Depletion Income Statement | - | 100.20 | 101.50 | 95.20 | 91.70 |
| Depreciation And Amortization In Income Statement | - | 100.20 | 101.50 | 95.20 | 91.70 |
| Gain On Sale Of Ppe | - | 33.90 | 0 | 0 | -7 |
| Provision For Doubtful Accounts | - | 18.60 | 59.20 | 54.30 | 42.40 |
| Otherunder Preferred Stock Dividend | - | -3.60 | 0 | 16.30 | 0 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| OPENLANE, Inc.this co. | OPLN | $3.9B | - | 3.12 | -8.3% | 14.29 |
| Champion Homes, Inc. | SKY | $4.1B | 19.79 | 2.60 | 13.2% | 10.97 |
| Tri Pointe Homes, Inc. | TPH | $4.0B | 16.58 | 1.21 | 7.3% | 12.94 |
| Dana Incorporated | DAN | $4.0B | 46.72 | 4.73 | 10.1% | 13.87 |
| Atmus Filtration Technologies Inc. | ATMU | $3.9B | 18.59 |
| - |
| - |
| - |
| - |
| 10.19 |
| 54.8% |
| 12.84 |
| Dorman Products, Inc. | DORM | $3.8B | 18.74 | 2.59 | 13.8% | 11.99 |
| Kontoor Brands, Inc. | KTB | $3.8B | 16.68 | 6.72 | 40.3% | 12.35 |
| Group 1 Automotive, Inc. | GPI | $3.6B | 11.17 | 1.30 | 11.7% | 11.07 |
| M/I Homes, Inc. | MHO | $3.6B | 8.85 | 1.13 | 12.7% | 6.84 |
| Peer Median | - | 17.64 | 2.60 | 12.9% | 12.17 | |