Carvana Co. (CVNA) vs OPENLANE, Inc. (OPLN)

Carvana Co. and OPENLANE, Inc. are both Auto & Truck Dealerships companies. Carvana Co. is the larger, with a market value of $66.7B against $4.5B — 14.7× the size. OPENLANE, Inc. has negative trailing earnings, so its P/E is not meaningful; Carvana Co. trades at 26.5×. Carvana Co. grew revenue faster over the last twelve months: 54.0% against 11.8%. Carvana Co. has the higher net margin (6.26% vs −3.08%) and the higher return on invested capital (18.3% vs 7.90%). Across the 20 metrics below, Carvana Co. leads on 11 and OPENLANE, Inc. on 9.

Valuation

Metric CVNA OPLN Auto & Truck Dealerships median
P/E 26.54 n/m 15.92
P/S 1.68 2.05 0.27
P/B 8.18 2.70 2.00
Price to free cash flow 45.09 12.00 10.69
EV/EBITDA 17.64 10.25 8.59
EV/Sales 1.78 2.20 0.68
Earnings yield 3.77% (2.24%) 3.16%
Free cash flow yield 2.22% 8.33% 2.80%

Profitability

Metric CVNA OPLN Auto & Truck Dealerships median
Gross margin 19.37% 45.85% 19.56%
Operating margin 8.93% 16.61% 3.73%
Net margin 6.26% (3.08%) 1.18%
Free cash flow margin 3.72% 17.05% 2.34%
Return on equity 43.23% (4.29%) 10.04%
Return on assets 13.11% (1.33%) 0.75%
Return on invested capital 18.32% 7.90% 6.85%

Growth

Metric CVNA OPLN Auto & Truck Dealerships median
Revenue growth (TTM) 53.98% 11.77% 3.12%
EPS growth (last fiscal year) 431.45% (313.33%) 2.35%
Revenue growth, 5-year CAGR 29.47% 7.83% 10.46%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CVNA OPLN Auto & Truck Dealerships median
Debt to equity 1.02 0.34 0.55
Current ratio 3.93 1.17 1.15
Net debt to EBITDA 1.24 0.86 1.34

Dividend

Metric CVNA OPLN Auto & Truck Dealerships median
Dividend yield — — 1.03%
Payout ratio — — 0.24

Size

Metric CVNA OPLN Auto & Truck Dealerships median
Market cap 66.71b 4.54b 2.14b

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