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 $79.5B against $4.4B — 18.2× the size. OPENLANE, Inc. has negative trailing earnings, so its P/E is not meaningful; Carvana Co. trades at 27.2×. Carvana Co. grew revenue faster over the last twelve months: 50.3% against 12.8%. Carvana Co. has the higher net margin (6.21% vs −2.19%) and the higher return on invested capital (19.5% vs 8.68%). 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 27.20 n/m 15.49
P/S 1.90 2.06 0.24
P/B 9.22 2.81 1.45
Price to free cash flow 46.77 11.63 10.17
EV/EBITDA 20.17 10.48 8.57
EV/Sales 1.97 2.18 0.47
Earnings yield 3.68% (1.49%) 2.96%
Free cash flow yield 2.14% 8.60% 2.14%

Profitability

Metric CVNA OPLN Auto & Truck Dealerships median
Gross margin 19.04% 45.61% 18.39%
Operating margin 8.74% 16.85% 3.69%
Net margin 6.21% (2.19%) 1.20%
Free cash flow margin 4.06% 17.75% 0.86%
Return on equity 39.66% (3.12%) 11.73%
Return on assets 13.62% (0.93%) 0.75%
Return on invested capital 19.45% 8.68% 6.38%

Growth

Metric CVNA OPLN Auto & Truck Dealerships median
Revenue growth (TTM) 50.28% 12.81% 0.29%
EPS growth (last fiscal year) 431.45% (313.33%) (0.89%)
Revenue growth, 5-year CAGR 29.47% 7.83% 9.44%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CVNA OPLN Auto & Truck Dealerships median
Debt to equity 0.92 0.34 0.61
Current ratio 4.05 1.16 1.16
Net debt to EBITDA 1.24 0.86 1.24

Dividend

Metric CVNA OPLN Auto & Truck Dealerships median
Dividend yield — — 1.02%
Payout ratio — — 0.24

Size

Metric CVNA OPLN Auto & Truck Dealerships median
Market cap 79.52b 4.38b 2.03b

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