Openlane, Inc. (OPLN) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Retail / Consumer Discretionary · as of Sep 25, 2026
Openlane, Inc. (OPLN)
A forensic read on Openlane, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Grey Zone
Financial health
2.5
Distress distance
Clean
Earnings quality
3
Forensic signals
21.0
P / E (ttm)
14.3%
ROE
$4.2B
Market cap
0.52%
Dividend yield
8.2%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Openlane, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 2.5, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+13.9%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +13.9% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by receivables up +27% against revenue +8%. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 14% of net operating assets, against an accruals ratio of 13.9%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
8.9%
FY2025
Return on invested capital.Return on invested capital is 8.9% in the latest fiscal year and rising across FY2023–FY2025 from -4.6%. After-tax operating profit was ($107M) in FY2023 and $177M in FY2025, with operating income at -8.0% of revenue in FY2023, 10.2% in FY2024 and 10.2% in FY2025. The capital base behind it came down -14% across FY2023–FY2025, from $2.3B to $2.0B, so this is a return struck on a smaller base rather than a record of money put to work. FY2023's operating profit carried a $225M goodwill write-off that alone took about 7.7 points off that year's return, so about 7.7 of the 13.5-point rise across FY2023–FY2025 is that charge leaving the base year rather than the capital earning more.
$225M
FY2023–FY2023
Goodwill impairments.Took $225M of goodwill writedowns across 1 year (FY2023 ($225M)). Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$1.93B
Revenue Growth YoY+8.2%
Revenue CAGR (2yr)+6.8%
Net Margin9.2%
Free Cash Flow$336.5M
Return on Equity14.3%
Debt / Equity0.43x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Openlane, Inc.'s actual 10-K/10-Q/8-K filings?