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DCF valuation

What is OPENLANE, Inc. worth?

With the base-case assumptions below, a discounted cash flow model on OPENLANE, Inc.'s reported free cash flow gives $65.99 per share. The share price was $34.82 on September 25, 2026, 47% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$336.5M
Average free cash flow, last 5 years
$174.8M
Cash
$189.7M
balance sheet of June 30, 2026
Debt
$534.7M
balance sheet of June 30, 2026
Diluted shares, fiscal 2025
106,900,000
Revenue growth per year, last 5 years
7.8%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear3.0%2.5%2.0%10.0%$39.26+13%
Base8.0%5.5%2.5%9.0%$65.99+90%
Bull13.0%8.0%3.0%8.0%$115.88+233%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$85.48$91.45$98.76$107.89$119.64
8.0%$70.91$74.79$79.37$84.87$91.59
9.0%$60.28$62.93$65.99$69.56$73.78
10.0%$52.19$54.08$56.22$58.66$61.47
11.0%$45.84$47.22$48.77$50.50$52.47

Where the presets come from

Base: years 1 to 5 grow at OPENLANE, Inc.'s revenue growth rate over the last 5 fiscal years (7.8% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

OPENLANE, Inc. company page