Forensic Analysis · Retail / Consumer Discretionary · as of Aug 11, 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

Safe

Financial health

2.6

Distress distance

Clean

Earnings quality

Forensic signals

24.5

P / E (ttm)

14.3%

ROE

$4.6B

Market cap

0.71%

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). 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 2.6, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by goodwill impairments.

What the filings flag

$251M

FY2020–FY2023

Goodwill impairments. Took $251M of goodwill writedowns across 2 years (FY2020 ($26M), FY2023 ($225M)) — about 163% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.

+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 total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). 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%. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 14% of net operating assets, diverging from the balance-sheet accrual read.

8.9%

FY2025

Return on invested capital. Return on invested capital is 8.9% in the latest fiscal year and rising from 3% — around its ~9% cost of capital, so growth is roughly value-neutral.

Key fundamentals

Latest Revenue$1.93B

Revenue Growth YoY+8.2%

Revenue CAGR (3yr)+8.2%

Net Margin9.2%

Free Cash Flow$336.5M

Return on Equity14.3%

Debt / Equity0.43x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.