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Runs a digital wholesale marketplace where dealers and fleets buy and sell used vehicles, plus auction/logistics services.
Runs a digital wholesale marketplace where dealers and fleets buy and sell used vehicles, plus auction/logistics services.
Charges sellers and buyers a fee on each vehicle sold through its online marketplace, so income follows the number of cars traded, mainly dealer-to-dealer sales and cars coming off lease. Its Automotive Finance arm lends to dealers to buy stock and earns interest, a significant and steadier contributor. In 2022 it sold its US physical auction sites and became an online-focused business.
Moat: narrow (network effects, scale, data). Large two-sided marketplace of buyers/sellers and vehicle data creates network effects.
Headquarters: Carmel, Indiana, United States · Founded: 1991 · Employees: 4,800
Size OPENLANE (OPLN) is a United States Information Technology company (Packaged Software) with a market value of $4.22B, the 1311th largest of 3,117 United States companies the cockpit tracks. Shares closed at $34.35 on 6 Nov 2026.
Performance Over six months the shares fell 9.3%, against +10.8% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 19 in its peer set.
Growth Revenue grew 12.8% over the last twelve months (peer median +16.5%); the operating margin is 17.1% (peer median 3.5%).
Valuation It trades at 20.7× forward earnings against a peer median of 19.4× (8th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is -2%, so the hurdle is +14 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.9 points below its cost of capital (9.2% WACC).
Short interest Short interest is 1.7% of the free float (15 Oct 2026).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.14B | $1.93B | $1.79B | $1.70B | $1.52B |
| Revenue growth | — | +8% | +5% | +12% | — |
| Gross profit | $885M | $801M | $737M | $727M | $585M |
| EBITDA | $456M | $414M | $382M | $356M | $241M |
| Net income | $188M | $178M | $93.6M | -$154M | -$277M |
| Free cash flow | $361M | $330M | $223M | $177M | -$528M |
| Capital expenditure | $55.4M | $55.4M | $53.0M | $52.0M | $60.9M |
| Total debt | $2.65B | $2.35B | $1.94B | $2.06B | $2.26B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| OPENLANE OPLN | $4.22B | -9% | +13% | 17% | 20.7× | 11.1% |
| Copart CPRT | $29.6B | -6% | 0% | 35% | 19.7× | 7.2% |
| ACV Auctions ACVA | n/a | +44% | n/a | n/a | n/a | n/a |
| RB Global RBA.TO | $17.4B | -7% | +9% | 18% | 19.9× | 6.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | OPLN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.7% | +7.8% | 7th lowest of 21 |
| 6-month return | -9.3% | +10.8% | 4th lowest of 19 |
| Distance from 52-week high | -19.9% | -25.5% | 9th highest of 21 |
| Revenue growth (TTM) | +12.8% | +16.5% | 9th lowest of 21 |
| Operating margin | 17.1% | 3.5% | 5th highest of 21 |
| Forward P/E | 20.7× | 19.4× | 8th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 11.1% | 20.8% | 4th least demanding of 14 |
| Growth delivered (Del g) | -2.4% | +20.6% | 2nd lowest of 14 |
| Hurdle (Req g minus delivered) | +13.6 pp | -4.6 pp | 3rd most demanding of 14 |
| ROIC minus cost of capital | -1.9 pp | -6.4 pp | 8th highest of 20 |
| EV / EBITDA | 14.4× | 23.5× | 5th cheapest of 12 |
| Net debt / EBITDA | 5.2× | 0.0× | 2nd most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| OPENLANE OPLN | United States | $4.22B | -9% | +13% | 17% | 20.7× | 11.1% | -2.4% |
| China National Software & Service 600536.SS | China | $4.22B | -20% | -16% | 0% | 131.0× | 49.7% | -7.3% |
| Sportradar SRAD | United States | $4.22B | +4% | +25% | 13% | 30.2× | 11.3% | +25.8% |
| Sega Sammy 6460.T | Japan | $4.28B | +46% | +24% | 10% | 17.8× | -2.3% | +11.9% |
| Kingdee International Software 0268.HK | Hong Kong | $4.16B | +3% | +17% | 2% | 65.4× | 45.4% | +15.0% |
| Talkweb Information System 002261.SZ | China | $4.11B | -39% | +9% | 1% | n/a | n/a | n/a |
| HUB24 HUB.AX | Australia | $4.39B | -4% | +23% | 29% | 42.6× | 35.6% | +35.7% |
| First Advantage FA | United States | $4.04B | +47% | +33% | 11% | 17.4× | 20.8% | +25.3% |
| Tenable TENB | United States | $4.40B | +93% | +10% | 5% | 17.8× | 30.1% | +17.8% |
| Momenta Global 6880.HK | Hong Kong | $4.02B | n/a | +82% | -32% | n/a | n/a | n/a |
| Kinaxis KXS.TO | Canada | $4.01B | +35% | +16% | 18% | 30.9× | 12.9% | +20.6% |
| Kingsoft 3888.HK | Hong Kong | $4.46B | +4% | 0% | 14% | 15.1× | -5.8% | +10.8% |
| BILL BILL | United States | $4.50B | +25% | +13% | 1% | 13.7× | 36.5% | +47.3% |
| Maase MAAS | United States | $4.51B | +7% | -84% | -16% | n/a | n/a | n/a |
| DLocal DLO | United States | $3.94B | +2% | +57% | 18% | 14.4× | 2.4% | +60.0% |
| Magnite MGNI | United States | $3.93B | +94% | +8% | 16% | 20.9× | 31.9% | +26.4% |
| CCC Intelligent Solutions CCC | United States | $4.54B | +50% | +11% | 18% | 15.1× | 11.2% | +10.8% |
| RXO RXO | United States | $4.55B | +27% | +10% | 0% | 53.0× | n/a | n/a |
| HeartFlow HTFL | United States | $4.56B | +15% | +40% | -34% | n/a | n/a | n/a |
| Planet Labs PBC PL | United States | $4.57B | -68% | +44% | -26% | n/a | n/a | n/a |
| Beijing DeepZero Technology 2723.HK | Hong Kong | $4.58B | n/a | +31% | 1% | n/a | n/a | n/a |