Latest Ratios: P/E Ratio 16.7x · EV/EBITDA 14.6x · ROE 12.3%. (2007–2025 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 | $2.9B | $3.2B | $2.2B | $1.6B | $1.5B | $1.9B | $2.4B | $2.9B | $2.5B | $2.6B | $2.2B |
| Enterprise Value | $4.2B | $4.5B | $2.3B | $1.9B | $1.9B | $3.7B | $3.9B | $4.6B | $4.8B | $5.0B | $4.5B |
| P/E Ratio → | 16.73 | 18.16 | 44.09 | — | 52.20 | 55.79 | — | 31.13 | 7.46 | 7.30 | 10.08 |
| P/S Ratio | 1.51 | 1.67 | 1.21 | 0.98 | 0.99 | 1.32 | 1.81 | 1.04 | 0.65 | 0.76 | 0.71 |
| P/B Ratio | 1.93 | 2.10 | 1.61 | 1.22 | 1.00 | 1.27 | 1.49 | 1.75 | 1.67 | 1.78 | 1.61 |
| P/FCF | 8.66 | 9.58 | 9.07 | 8.81 | — | 6.31 | 8.50 | 7.61 | 4.44 | 6.04 | 10.91 |
| P/OCF | 7.43 | 8.23 | 7.42 | 6.86 | — | 4.65 | 6.26 | 5.34 | 3.27 | 4.48 | 6.22 |
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 | — | 2.33 | 1.29 | 1.19 | 1.22 | 2.55 | 2.92 | 1.67 | 1.27 | 1.45 | 1.43 |
| EV / EBITDA | 14.55 | 15.63 | 8.30 | 20.25 | 9.57 | 15.58 | 21.74 | 9.22 | 6.00 | 6.02 | 6.10 |
| EV / EBIT | 21.34 | — | 12.81 | 209.64 | 23.68 | 26.41 | 61.14 | 14.51 | 13.94 | 8.89 | 9.04 |
| EV / FCF | — | 13.39 | 9.66 | 10.63 | — | 12.14 | 13.70 | 12.19 | 8.66 | 11.45 | 21.94 |
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 | 46.2% | 46.2% | 39.6% | 47.3% | 40.3% | 45.4% | 43.9% | 41.9% | 43.2% | 42.5% | 42.0% |
| Operating Margin | 10.2% | 10.2% | 10.2% | -0.3% | 6.2% | 8.8% | 5.2% | 11.3% | 16.6% | 16.4% | 15.8% |
| Net Profit Margin | 9.2% | 9.2% | 6.1% | -9.4% | 15.8% | 4.6% | 0.0% | 6.8% | 8.7% | 10.5% | 7.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.3% | 12.3% | 8.2% | -10.8% | 15.9% | 4.3% | 0.0% | 12.1% | 22.2% | 25.1% | 16.0% |
| ROA | 3.8% | 3.8% | 2.4% | -3.1% | 3.8% | 0.9% | 0.0% | 2.7% | 4.6% | 5.3% | 3.6% |
| ROIC | 6.9% | 6.9% | 8.7% | -0.2% | 2.8% | 3.0% | 1.6% | 6.6% | 12.3% | 11.3% | 11.1% |
| ROCE | 9.4% | 9.4% | 8.5% | -0.2% | 2.7% | 2.8% | 1.6% | 7.3% | 13.6% | 12.8% | 12.8% |
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 | 0.93 | 0.93 | 0.21 | 0.32 | 0.38 | 1.29 | 1.38 | 1.36 | 1.82 | 1.80 | 1.77 |
| Debt / EBITDA | 4.94 | 4.94 | 1.02 | 4.44 | 2.94 | 8.23 | 12.46 | 4.47 | 3.35 | 3.23 | 3.34 |
| Net Debt / Equity | — | 0.83 | 0.10 | 0.25 | 0.23 | 1.17 | 0.91 | 1.05 | 1.59 | 1.59 | 1.62 |
| Net Debt / EBITDA | 4.45 | 4.45 | 0.50 | 3.47 | 1.79 | 7.48 | 8.25 | 3.46 | 2.93 | 2.84 | 3.07 |
| Debt / FCF | — | 3.81 | 0.59 | 1.82 | — | 5.83 | 5.20 | 4.58 | 4.22 | 5.41 | 11.03 |
| Interest Coverage | 1.79 | 1.79 | 8.36 | -0.03 | 2.36 | 1.01 | 0.54 | 1.66 | 3.25 | 3.45 | 3.60 |
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 | 1.16 | 1.16 | 1.11 | 1.15 | 1.14 | 1.13 | 1.41 | 1.29 | 1.26 | 1.31 | 1.22 |
| Quick Ratio | 1.16 | 1.16 | 1.11 | 1.15 | 1.14 | 1.13 | 1.41 | 1.29 | 1.25 | 1.31 | 1.21 |
| Cash Ratio | 0.05 | 0.05 | 0.06 | 0.04 | 0.09 | 0.06 | 0.33 | 0.20 | 0.13 | 0.13 | 0.09 |
| Asset Turnover | — | 0.41 | 0.39 | 0.35 | 0.30 | 0.19 | 0.20 | 0.42 | 0.52 | 0.50 | 0.48 |
| Inventory Turnover | 77.63 | — | — | — | — | — | — | — | 77.63 | 102.43 | 102.09 |
| Days Sales Outstanding | — | — | 524.67 | 571.05 | 636.29 | 726.50 | 620.63 | 335.58 | 237.75 | 277.09 | 285.40 |
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 | 1.3% | 1.2% | 2.1% | 2.7% | 1.5% | — | 2.0% | 5.7% | 7.7% | 6.6% | 7.0% |
| Payout Ratio | — | — | — | — | — | — | 9800.0% | 87.2% | 57.4% | 48.3% | 70.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.0% | 5.5% | 2.3% | — | 1.9% | 1.8% | — | 3.2% | 13.4% | 13.7% | 9.9% |
| FCF Yield | 11.5% | 10.4% | 11.0% | 11.4% | — | 15.9% | 11.8% | 13.1% | 22.5% | 16.5% | 9.2% |
| Buyback Yield | 1.6% | 1.4% | 1.4% | 1.4% | 12.0% | 9.4% | 0.4% | 4.1% | 6.1% | 5.7% | 3.6% |
| Total Shareholder Yield | 2.9% | 2.6% | 3.4% | 4.1% | 13.5% | 9.4% | 2.5% | 9.8% | 13.8% | 12.3% | 10.6% |
| Shares Outstanding | — | $108M | $109M | $109M | $116M | $123M | $129M | $133M | $136M | $138M | $139M |
Used vehicle price volatility
Based on current market data, OPENLANE trades at a forward P/E of 19.31, which appears to price in a recovery that remains inconsistent with the company's recent 14.55x EV/EBITDA multiple and the ongoing volatility in its core digital marketplace transaction volumes.
The premium valuation relative to historical norms suggests investors are anticipating significant margin expansion from the digital-first pivot. However, the lack of a clear PEG ratio and the divergence between trailing and forward earnings multiples indicate that the market remains uncertain about the sustainability of future growth in a high-interest-rate environment.
As reported in recent financial statements, the company's ROIC has struggled to maintain momentum, dropping to 0.3% in 2025Q4 from a peak of 3.5% in 2024Q3, suggesting that the transition to a digital-only model has yet to yield the expected compounding returns on invested capital.
The persistent decay in ROIC indicates that the capital deployed into the digital platform and AFC segment is not currently generating returns that exceed the cost of capital. This trend warrants further investigation into whether the company's asset-light strategy is truly scalable or if it is simply masking underlying operational inefficiencies.
According to recent quarterly filings, the company's D/EBITDA ratio spiked to 40.32 in 2025Q4, a dramatic increase from 0.81 in 2025Q2, which suggests that the recent accumulation of debt has significantly impaired the company's ability to service its obligations comfortably.
The sharp rise in leverage, coupled with an interest coverage ratio of only 0.44, indicates a heightened risk profile that may limit management's strategic options. Investors should monitor whether this debt level is a temporary bridge for platform integration or a structural shift that could necessitate future capital raises.
Based on reported figures, the company's DSO has remained elevated, reaching 232 days in 2025Q4, which highlights significant friction in the cash conversion cycle compared to industry peers and suggests potential challenges in collecting receivables from the independent dealer network.
The extended collection period appears to be a structural drag on liquidity, potentially forcing the company to rely more heavily on external financing. This inefficiency in working capital management may be a primary contributor to the volatility observed in the company's free cash flow generation.
Institutional analysts frequently misapply the P/E ratio to OPENLANE, as it obscures the significant impact of non-operating items and the capital-intensive nature of the AFC finance segment, which requires a more nuanced focus on tangible book value and adjusted operating cash flow.
Because the company's net income is often distorted by one-time gains or losses from asset divestitures, the P/E ratio fails to capture the true earning power of the core marketplace business. Investors should instead prioritize EV/EBITDA and return on tangible capital to better assess the underlying health of the digital-first strategy.
Includes 30+ ratios · 19 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying KAR stock.
OPENLANE, Inc.'s current P/E ratio is 16.7x. The historical average is 21.8x. This places it at the 53th percentile of its historical range.
OPENLANE, Inc.'s current EV/EBITDA is 14.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.5x.
OPENLANE, Inc.'s return on equity (ROE) is 12.3%. The historical average is 6.7%.
Based on historical data, OPENLANE, Inc. is trading at a P/E of 16.7x. This is at the 53th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
OPENLANE, Inc.'s current dividend yield is 1.30%.
OPENLANE, Inc. has 46.2% gross margin and 10.2% operating margin. Operating margin between 10-20% is typical for established companies.
OPENLANE, Inc.'s Debt/EBITDA ratio is 4.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.