CACC FY 2019 Earnings Report — Credit Acceptance Corporation Revenue & Financial Results | Market Cap Arena

Credit Acceptance CorporationCACC

FY 2019 Earnings

Reported February 11, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.3B	—	15.6%
Op. Income	$848M	—	$749M	—	13.2%
Gross Margin	71.6%	—	72.6%	—	-1.0pp
Net Margin	44.3%	—	44.8%	—	-0.5pp
EPS (Diluted)	$34.57	—	$29.39	—	17.6%
Free Cash Flow	$786M	—	$679M	—	15.7%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$420M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$70M
General & Administrative	$65M
SG&A Expenses	$135M
Other Expenses	$76M
Operating Expenses	$212M
Cost & Expenses	$631M
OPERATING INCOME	$848M
Interest Income	$9M
Interest Expense	$196M
Other Income/Expenses	$8M
INCOME BEFORE TAX	$856M
Income Tax Expense	$200M
Net Income from Continuing Ops	$656M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$656M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$656M
D&A	$22M
EBIT	$848M
EBITDA	$871M
EPS	$35
EPS Diluted	$35

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$420M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$70M
General & Administrative	$65M
SG&A Expenses	$135M
Other Expenses	$76M
Operating Expenses	$212M
Cost & Expenses	$631M
OPERATING INCOME	$848M
Interest Income	$9M
Interest Expense	$196M
Other Income/Expenses	$8M
INCOME BEFORE TAX	$856M
Income Tax Expense	$200M
Net Income from Continuing Ops	$656M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$656M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$656M
D&A	$22M
EBIT	$848M
EBITDA	$871M
EPS	$35
EPS Diluted	$35

Cash Flow Statement

Item	Amount
Net Income	$656M
Depreciation & Amortization	$22M
Stock-Based Compensation	$8M
Deferred Income Tax	$86M
Other Non-Cash Items	$78M
Change in Working Capital	-$37M
OPERATING CASH FLOW	$812M
Capital Expenditure	-$27M
Acquisitions (Net)	$0
Purchases of Investments	-$40M
Sales/Maturities of Investments	$41M
Other Investing Activities	-$998M
NET CASH FROM INVESTING	-$1.0B
Net Debt Issuance	$727M
Common Stock Repurchased	-$300M
Common Dividends Paid	$0
Other Financing Activities	-$26M
NET CASH FROM FINANCING	$400M
FREE CASH FLOW	$786M
Net Change in Cash	$188M

Balance Sheet

Item	Amount
Cash & Equivalents	$187M
Short-Term Investments	$0
Net Receivables	$6.8B
Inventory	$974M
Other Current Assets	$336M
TOTAL CURRENT ASSETS	$7.3B
PP&E (Net)	$60M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$59M
Tax Assets	$323M
Other Non-Current Assets	-$287M
TOTAL NON-CURRENT ASSETS	$95M
TOTAL ASSETS	$7.4B
Account Payables	$206M
Short-Term Debt	$11M
Deferred Revenue	$0
Other Current Liabilities	-$218M
TOTAL CURRENT LIABILITIES	$207M
Long-Term Debt	$4.5B
Deferred Revenue NC	-$5.1B
Deferred Tax Liabilities	$323M
Other Non-Current Liabilities	$529M
TOTAL NON-CURRENT LIABILITIES	$4.9B
TOTAL LIABILITIES	$5.1B
Common Stock	$200.0K
Additional Paid-In Capital	$158M
Retained Earnings	$2.2B
Treasury Stock	$0
Accum. Other Comp. Income	$800.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.4B
Minority Interest	$4.0B
TOTAL EQUITY	$6.4B
TOTAL LIABILITIES & EQUITY	$7.4B
Total Debt	$4.5B
Net Debt	$4.4B