CACC FY 2023 Earnings Report — Credit Acceptance Corporation Revenue & Financial Results | Market Cap Arena

Credit Acceptance CorporationCACC

FY 2023 Earnings

Reported January 31, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.9B	—	$1.8B	—	3.1%
Op. Income	$347M	—	$702M	—	-50.5%
Gross Margin	67.2%	—	73.9%	—	-6.8pp
Net Margin	15.2%	—	29.4%	—	-14.2pp
EPS (Diluted)	$21.99	—	$39.32	—	-44.1%
Free Cash Flow	$1.2B	—	$1.2B	—	-2.9%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$617M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$92M
General & Administrative	$87M
SG&A Expenses	$179M
Other Expenses	$736M
Operating Expenses	$915M
Cost & Expenses	$1.5B
OPERATING INCOME	$347M
Interest Income	$20M
Interest Expense	$0
Other Income/Expenses	$20M
INCOME BEFORE TAX	$368M
Income Tax Expense	$82M
Net Income from Continuing Ops	$286M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$286M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$286M
D&A	$27M
EBIT	$347M
EBITDA	$374M
EPS	$22
EPS Diluted	$22

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$617M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$92M
General & Administrative	$87M
SG&A Expenses	$179M
Other Expenses	$736M
Operating Expenses	$915M
Cost & Expenses	$1.5B
OPERATING INCOME	$347M
Interest Income	$20M
Interest Expense	$0
Other Income/Expenses	$20M
INCOME BEFORE TAX	$368M
Income Tax Expense	$82M
Net Income from Continuing Ops	$286M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$286M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$286M
D&A	$27M
EBIT	$347M
EBITDA	$374M
EPS	$22
EPS Diluted	$22

Cash Flow Statement

Item	Amount
Net Income	$286M
Depreciation & Amortization	$27M
Stock-Based Compensation	$39M
Deferred Income Tax	-$38M
Other Non-Cash Items	$739M
Change in Working Capital	$151M
OPERATING CASH FLOW	$1.2B
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$43M
Sales/Maturities of Investments	$9M
Other Investing Activities	-$1.4B
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	$491M
Common Stock Repurchased	-$203M
Common Dividends Paid	$0
Other Financing Activities	-$22M
NET CASH FROM FINANCING	$266M
FREE CASH FLOW	$1.2B
Net Change in Cash	$53M

Balance Sheet

Item	Amount
Cash & Equivalents	$471M
Short-Term Investments	$7M
Net Receivables	$4M
Inventory	$0
Other Current Assets	-$482M
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$47M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$784M
Other Non-Current Assets	-$830M
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$8.4B
Account Payables	$0
Short-Term Debt	$74M
Deferred Revenue	$0
Other Current Liabilities	-$74M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$5.0B
Deferred Revenue NC	$68M
Deferred Tax Liabilities	$1.2B
Other Non-Current Liabilities	-$6.2B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$6.6B
Common Stock	$100.0K
Additional Paid-In Capital	$279M
Retained Earnings	$1.5B
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$0
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$8.4B
Total Debt	$5.1B
Net Debt	$4.6B