$8.3 B

KAR Mkt cap, 20-Sep-2018

KAR Auction Services Revenue Breakdown

Embed Graph

KAR Auction Services revenue breakdown by business segment: 9.1% from AFC, 34.9% from IAA and 56.0% from ADESA Auctions

KAR Auction Services Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

2.2 b2.4 b2.6 b3.2 b

Revenue growth, %

9%12%19%

Cost of goods sold

400.8 m488.3 m

Gross profit

2.2 b2.7 b

Gross profit Margin, %

85%84%

General and administrative expense

148.8 m

Operating expense total

148.8 m

EBIT

256.7 m377.7 m427.3 m111.9 m

EBIT margin, %

12%16%16%4%

Interest expense

24.2 m38 m

Pre tax profit

75.2 m72.2 m

Income tax expense

26.9 m26.7 m

Net Income

67.7 m169.3 m214.6 m222.4 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Revenue

658.3 m666.7 m745 m771.8 m773.8 m866.6 m858 m843 m

Cost of goods sold

366.5 m378.1 m418.7 m430.9 m443.7 m501.2 m481.7 m479.2 m535 m

Gross profit

291.8 m288.6 m326.3 m340.9 m330.1 m365.4 m376.3 m363.8 m

Gross profit Margin, %

44%43%44%44%43%42%44%43%

General and administrative expense

123.5 m128.5 m141.1 m146.9 m146.3 m157.4 m154.6 m155.7 m

Operating expense total

541.8 m560.7 m616.2 m636.8 m650.5 m723.1 m700.8 m701.1 m

EBIT

116.5 m106 m128.8 m135 m123.3 m143.5 m157.2 m141.9 m

EBIT margin, %

18%16%17%17%16%17%18%17%

Interest expense

21.8 m24.4 m28.7 m35.8 m36.3 m40.3 m40.1 m41.5 m

Pre tax profit

94.3 m81.9 m97.4 m99.5 m86.2 m103.3 m91.1 m100.5 m

Income tax expense

34.8 m29.6 m36.7 m37.7 m31.8 m34.1 m33.9 m37.7 m

Net Income

22.8 m20.7 m50.8 m47.5 m54.5 m59.5 m52.3 m60.7 m61.8 m54.4 m69.2 m57.2 m62.8 m90 m

KAR Auction Services Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

191.6 m152.9 m155 m201.8 m

Current Assets

1.8 b2.1 b2.4 b2.8 b

Goodwill

1.7 b1.7 b1.8 b2.1 b

Total Assets

5.1 b5.4 b5.8 b6.6 b

Accounts Payable

435.5 m471.7 m608.4 m648.5 m

Dividends Payable

34.7 m38.2 m37.2 m43.7 m

Current Liabilities

1.4 b1.6 b2.2 b2.3 b

Long-term debt

1.7 b1.7 b1.7 b2.4 b

Non-Current Liabilities

2.2 b2.2 b2.2 b2.8 b

Total Debt

2.4 b

Total Liabilities

3.6 b3.8 b4.4 b5.2 b

Additional Paid-in Capital

1.5 b1.6 b1.4 b1.4 b

Retained Earnings

(72.3 m)(46.4 m)17.3 m74.1 m

Total Equity

1.5 b1.5 b1.4 b1.4 b

Debt to Equity Ratio

1.7 x

Debt to Assets Ratio

0.4 x

Financial Leverage

3.5 x3.5 x4.2 x4.7 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

196 m251.2 m285.3 m214.9 m178.4 m204.8 m125.3 m676.3 m314.7 m323.1 m188 m530.4 m432.1 m

Current Assets

1.8 b2 b2 b2.1 b2.2 b2.4 b2.4 b3.2 b2.9 b2.9 b2.9 b3.1 b3.2 b

Goodwill

1.7 b1.7 b1.7 b1.7 b1.7 b1.8 b1.8 b1.8 b2 b2 b2.1 b2.1 b2.1 b2.2 b

Total Assets

5.1 b5.2 b5.3 b5.4 b5.5 b5.8 b5.7 b6.5 b6.6 b6.6 b6.6 b6.9 b6.9 b

Accounts Payable

490.3 m587.8 m519.7 m532.3 m638 m629.9 m627.6 m768.2 m749.2 m700.3 m786.5 m735.5 m754.6 m

Dividends Payable

26.3 m34.9 m35.1 m35.2 m38.3 m38.3 m37.1 m39.8 m40 m40.1 m43.9 m43.9 m43.3 m47 m

Current Liabilities

1.4 b1.6 b1.5 b1.6 b1.7 b2 b2.1 b2.2 b2.3 b2.3 b2.3 b2.3 b2.3 b

Long-term debt

1.8 b1.7 b1.7 b1.7 b1.7 b1.7 b1.7 b2.4 b2.4 b2.4 b2.4 b2.7 b2.7 b

Non-Current Liabilities

2.2 b2.2 b2.2 b2.2 b2.2 b2.2 b2.2 b2.8 b2.8 b2.8 b2.8 b3.1 b3.2 b

Total Debt

1.8 b1.7 b1.7 b1.7 b1.7 b1.7 b1.7 b2.4 b2.4 b2.4 b2.4 b2.7 b2.7 b

Additional Paid-in Capital

1.5 b1.6 b1.6 b1.6 b1.6 b1.6 b1.4 b1.4 b1.4 b1.4 b1.4 b1.4 b1.3 b

Retained Earnings

(19.9 m)(86.5 m)(70.8 m)(58.5 m)(30.2 m)(9 m)6.2 m38.1 m59.9 m74.2 m98.6 m111.8 m131.3 m295 m

Total Equity

1.5 b1.5 b1.5 b1.5 b1.6 b1.6 b1.4 b1.4 b1.5 b1.5 b1.4 b1.5 b1.4 b

Financial Leverage

3.5 x3.5 x3.5 x3.5 x3.5 x3.7 x4.2 x4.6 x4.5 x4.5 x4.6 x4.7 x4.9 x

KAR Auction Services Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

67.7 m169.3 m214.6 m222.4 m

Depreciation and Amortization

194.4 m196.6 m212.8 m64.7 m

Accounts Payable

36.4 m60.5 m136.1 m31.5 m

Cash From Operating Activities

434 m431.3 m475 m360.8 m

Cash From Investing Activities

(267.9 m)(412.8 m)(547.6 m)(765.3 m)

Long-term Borrowings

(52.7 m)(1.8 b)(21.5 m)(662.6 m)

Cash From Financing Activities

(76.6 m)(48.5 m)94.5 m453.2 m

Interest Paid

89.8 m75.9 m79.7 m124.5 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

85.3 m20.7 m71.5 m119 m54.5 m114 m166.3 m60.7 m122.5 m176.9 m69.2 m126.4 m189.2 m90 m

Depreciation and Amortization

145.9 m48.1 m96.4 m145.3 m50.9 m102.7 m156.8 m56.4 m115.4 m175.9 m64.5 m129 m195.2 m

Accounts Payable

48.3 m92.8 m67.1 m104.3 m105.7 m117.3 m146.4 m88.7 m106 m73.7 m83.2 m64 m97.5 m

Cash From Operating Activities

318.4 m92.3 m231.4 m327.7 m86.1 m200.5 m315.4 m69.5 m158.9 m283.8 m142 m373.9 m487.9 m

Cash From Investing Activities

(180.7 m)(26.2 m)(114.5 m)(290.1 m)(38.2 m)(296.8 m)(382.5 m)(100.3 m)(531.1 m)(630.9 m)(21.2 m)(91.1 m)(201 m)

Long-term Borrowings

(49.2 m)(1.8 b)(1.8 b)(1.8 b)(4.4 m)(8.8 m)(16.9 m)(637.6 m)(646.4 m)(654.4 m)(6.1 m)(2.4 b)(2.4 b)

Cash From Financing Activities

(46.5 m)(3.2 m)(23.1 m)(9.3 m)(14.5 m)155.4 m53.6 m546.6 m526.4 m512.5 m(136.4 m)37.8 m(73.1 m)

Interest Paid

68.7 m20.1 m38.5 m57.3 m18.8 m38 m58.2 m25.4 m58 m91 m37.1 m69.3 m95.6 m
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KAR Auction Services Operating Metrics

FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Auction Locations

65 66 66 66 66 66 76 76 77 77 77

Auction Sites

168 169 171 171 171 173 173 173 172 173 174

Transactions

1.45 m411.68 k381.68 k405.12 k1.61 m454 k422 k425.99 k1.72 m456 k416 k

Used Vehicles Sold

3.90 m4.40 m1.24 m1.27 m5.10 m1.41 m1.41 m
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