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Credit Acceptance vs Open Lending: revenue, profit, margins and growth compared

Credit Acceptance brought in $2.3B of revenue in fiscal 2025, Open Lending $93.2M in fiscal 2025. Revenue changed by +7.2% at Credit Acceptance and +288.0% at Open Lending on the year before, so Open Lending grew faster. Credit Acceptance kept 18.3% of its revenue as net profit, Open Lending -4.5%. Free cash flow was $1.1B at Credit Acceptance and -$3.3M at Open Lending.

Side by side, latest fiscal year

CACCLPRO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.3B$93.2M
Revenue growth+7.2%+288.0%
Net income$423.9M-$4.2M
Net margin18.3%-4.5%
Free cash flow$1.1B-$3.3M
Free cash flow margin45.4%-3.5%
Earnings per share (diluted)$36.38-$0.04
Cash$22.8M$176.6M
Debtn/a$84.8M
Price to earnings15.3n/a
Market value$5.8B$371.2M
Dividend yieldn/an/a
Rank by revenue in sector#140 of 495 · Finance#345 of 495 · Finance

Over the years

Revenue
CACC FY2018: $1.3BCACC FY2019: $1.5BCACC FY2020: $1.7BCACC FY2021: $1.9BCACC FY2022: $1.8BCACC FY2023: $1.9BCACC FY2024: $2.2BCACC FY2025: $2.3BLPRO FY2018: $52.2MLPRO FY2020: $92.8MLPRO FY2020: $108.9MLPRO FY2021: $215.7MLPRO FY2022: $179.6MLPRO FY2023: $117.5MLPRO FY2024: $24MLPRO FY2025: $93.2MFY18FY19FY20FY21FY22FY23FY24FY25
CACC $2.3BLPRO $93.2M
Net income
CACC FY2018: $574MCACC FY2019: $656.1MCACC FY2020: $421MCACC FY2021: $958.3MCACC FY2022: $535.8MCACC FY2023: $286.1MCACC FY2024: $247.9MCACC FY2025: $423.9MLPRO FY2018: $28.3MLPRO FY2020: $62.5MLPRO FY2020: -$97.6MLPRO FY2021: $146.1MLPRO FY2022: $66.6MLPRO FY2023: $22.1MLPRO FY2024: -$135MLPRO FY2025: -$4.2MFY18FY19FY20FY21FY22FY23FY24FY25
CACC $423.9MLPRO -$4.2M
Net margin
CACC FY2018: 44.6%CACC FY2019: 44.1%CACC FY2020: 25.2%CACC FY2021: 51.6%CACC FY2022: 29.2%CACC FY2023: 15.0%CACC FY2024: 11.5%CACC FY2025: 18.3%LPRO FY2018: 54.2%LPRO FY2020: 67.4%LPRO FY2020: -89.6%LPRO FY2021: 67.7%LPRO FY2022: 37.1%LPRO FY2023: 18.8%LPRO FY2024: -562.0%LPRO FY2025: -4.5%FY18FY19FY20FY21FY22FY23FY24FY25
CACC 18.3%LPRO -4.5%
Revenue growth
CACC FY2019: +15.8%CACC FY2020: +12.1%CACC FY2021: +11.2%CACC FY2022: -1.3%CACC FY2023: +3.8%CACC FY2024: +13.7%CACC FY2025: +7.2%LPRO FY2020: +77.9%LPRO FY2020: +17.3%LPRO FY2021: +98.0%LPRO FY2022: -16.7%LPRO FY2023: -34.6%LPRO FY2024: -79.5%LPRO FY2025: +288.0%FY19FY20FY21FY22FY23FY24FY25
CACC +7.2%LPRO +288.0%
Free cash flow
CACC FY2018: $678.8MCACC FY2019: $785.5MCACC FY2020: $976.7MCACC FY2021: $1.1BCACC FY2022: $1.2BCACC FY2023: $1.2BCACC FY2024: $1.1BCACC FY2025: $1.1BLPRO FY2018: $28.5MLPRO FY2020: $41.7MLPRO FY2020: $23.4MLPRO FY2021: $95MLPRO FY2022: $107.2MLPRO FY2023: $82.5MLPRO FY2024: $17.4MLPRO FY2025: -$3.3MFY18FY19FY20FY21FY22FY23FY24FY25
CACC $1.1BLPRO -$3.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about Credit Acceptance and Open Lending

Which is bigger by revenue, Credit Acceptance or Open Lending?

Credit Acceptance is bigger by revenue: $2.3B in fiscal 2025, against $93.2M for Open Lending in fiscal 2025.

Which keeps more of its revenue as profit, Credit Acceptance or Open Lending?

Credit Acceptance had a net margin of 18.3% in fiscal 2025; Open Lending had -4.5% in fiscal 2025.

Which grew revenue faster, Credit Acceptance or Open Lending?

In their latest fiscal years revenue changed by +7.2% at Credit Acceptance and +288.0% at Open Lending.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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