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Credit services · Financial Services · Fiscal year ends Dec 31
Credit Acceptance reported revenue of $2.3B in the fiscal year ended Dec 2025, up 7.2% from the year before. Operating income was $565M, an operating margin of 24.4%, and net income was $424M. Operating cash flow of $1.1B less capital expenditure of $2M left free cash flow of $1.1B. Net debt was $1.1B.
Ranks among the 35 credit services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,856 | 1,832 | 1,902 | 2,162 | 2,317 |
| Selling, general & admin | 166 | 164 | 179 | 192 | 263 |
| Operating incomederived: revenue − total costs | 1,261 | 712 | 368 | 330 | 565 |
| Interest expense | 164 | 167 | 267 | 420 | 463 |
| Pre-tax income | 1,261 | 712 | 368 | 330 | 565 |
| Income tax | 303 | 176 | 81.5 | 81.6 | 142 |
| Net income | 958 | 536 | 286 | 248 | 424 |
| Diluted EPS | 59.52 | 39.32 | 21.99 | 19.88 | 36.38 |
| Diluted shares | 16.1 | 13.6 | 13.0 | 12.5 | 11.7 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 23.3 | 7.7 | 13.2 | 344 | 22.8 |
| Net PP&E | 57.3 | 51.4 | 46.5 | 14.7 | 12.6 |
| Total assets | 7,051 | 6,905 | 7,610 | 8,855 | 8,632 |
| Payables | 175 | 261 | 319 | 316 | 400 |
| Long-term debt | 793 | 795 | 989 | 991 | 1,088 |
| Total liabilities | 5,227 | 5,281 | 5,857 | 7,105 | 7,108 |
| Shareholders' equity | 1,824 | 1,624 | 1,754 | 1,750 | 1,524 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 1,069 | 1,239 | 1,204 | 1,138 | 1,055 |
| Capital expenditure | 7.6 | 3.1 | 4.0 | 1.8 | 1.6 |
| Free cash flow | 1,062 | 1,236 | 1,200 | 1,136 | 1,053 |
| Depreciation & amortisation | 9.7 | 9.0 | 8.9 | 6.7 | 3.6 |
| Stock-based compensation | 24.8 | 36.5 | 39.1 | 45.0 | 50.7 |
| Share buybacks | 1,472 | 785 | 203 | 313 | 725 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −1.3% | 3.8% | 13.7% | 7.2% |
| Operating income growth (YoY) | – | −43.6% | −48.3% | −10.4% | 71.6% |
| EPS growth (YoY) | – | −33.9% | −44.1% | −9.6% | 83.0% |
| Operating margin | 67.9% | 38.8% | 19.3% | 15.2% | 24.4% |
| Net margin | 51.6% | 29.2% | 15.0% | 11.5% | 18.3% |
| Return on equityBlank when equity is negative | 52.5% | 33.0% | 16.3% | 14.2% | 27.8% |
| Free cash flow margin | 57.2% | 67.4% | 63.1% | 52.5% | 45.4% |
| Cash conversion (CFO ÷ net income) | 1.12x | 2.31x | 4.21x | 4.59x | 2.49x |
| Interest cover | 7.68x | 4.27x | 1.38x | 0.79x | 1.22x |
| Debt ÷ equity | 0.43x | 0.49x | 0.56x | 0.57x | 0.71x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 769 | 787 | 976 | 648 | 1,065 |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.