OPENLANE, Inc. (OPLN) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-68.9%

$12.42

vs $39.98 price

Levered DCF

$5.13

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.76

Distress zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-31.02×	43.13×	-8.14×	7.54×	55.79×	-116.31×	15.24×	7.4×
P/B	2.07×	1.6×	0.83×	0.71×	0.91×	1.49×	1.74×	1.66×
P/S	1.64×	1.2×	0.98×	0.99×	1.32×	1.81×	1.03×	0.99×
EV / EBITDA	10.83×	8.3×	17.6×	10.42×	14.8×	22.47×	9.07×	12.02×
Gross margin	41.4%	39.6%	47.3%	40.3%	45.4%	43.9%	41.9%	45.9%
Operating margin	16.7%	10.2%	-0.3%	6.2%	8.8%	5.2%	11.3%	13.9%
Net margin	9.2%	6.1%	-9.4%	15.8%	4.6%	0.0%	6.8%	13.4%
Current ratio	1.16×	1.11×	1.15×	1.14×	1.13×	1.41×	1.29×	1.26×
Debt / equity	0.93×	0.21×	0.22×	0.27×	0.93×	1.38×	1.36×	2.81×
Interest coverage	2.52×	8.36×	-0.03×	2.36×	1.01×	0.54×	1.66×	1.77×
Dividend yield	1.2%	2.1%	2.7%	1.5%	0.0%	2.0%	5.7%	7.8%
Payout ratio	21.7%	40.4%	-28.8%	9.2%	0.0%	9800.0%	87.2%	57.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.6%	8.2%	-7.9%	11.3%	3.2%	0.0%	11.4%	22.4%
Return on invested capital	10.1%	5.6%	-0.2%	2.5%	-0.2%	1.3%	5.5%	4.4%
Return on assets	3.8%	2.4%	-3.3%	4.7%	0.9%	0.0%	2.9%	4.6%
Free cash flow yield	10.6%	10.4%	10.9%	-34.8%	18.1%	13.4%	13.3%	24.4%
Earnings yield	5.6%	5.1%	-9.5%	15.9%	3.5%	0.0%	6.6%	13.5%
Enterprise value	$4.5B	$2.3B	$1.9B	$1.9B	$3.7B	$3.9B	$4.6B	$6.3B
Net debt / EBITDA	3.11×	0.51×	3.01×	1.94×	7.11×	8.52×	3.42×	7.36×
Cash conversion cycle (days)	302	340	337	416	365	283	177	184