Credit Acceptance Corp key statistics and ratios

In fiscal 2025, Credit Acceptance Corp had return on equity of 25.9%, a net margin of 18.3% and debt equal to 419.3% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Credit Acceptance Corp: financial ratios, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Net margin	38.4%	38.5%	35.8%	36.1%	37.1%	36.8%	36.3%	34.3%	42.4%	44.6%	44.1%	25.2%	51.6%	29.2%	15.0%	11.5%	18.3%	14.4%
Free-cash-flow margin	41.4%	44.6%	51.3%	49.2%	46.9%	49.9%	48.5%	51.8%	50.2%	52.8%	52.8%	58.5%	57.2%	67.4%	63.1%	52.5%	45.4%	53.6%
Return on equity	29.4%	35.0%	37.1%	37.8%	36.9%	36.7%	36.8%	31.7%	34.7%	32.6%	30.2%	18.1%	46.4%	31.1%	16.9%	14.2%	25.9%	23.1%
Return on assets	—	12.7%	12.1%	11.3%	11.1%	10.2%	9.7%	8.8%	10.2%	10.2%	9.6%	5.6%	13.2%	7.7%	3.9%	3.0%	4.8%	3.9%
Asset turnover	—	0.33	0.34	0.31	0.30	0.28	0.27	0.26	0.24	0.23	0.22	0.22	0.26	0.26	0.26	0.26	0.27	0.27
Debt to equity	0.0%	0.0%	184.8%	201.1%	185.6%	249.6%	224.8%	223.4%	201.4%	193.0%	194.0%	201.3%	254.5%	284.3%	291.2%	365.3%	419.3%	389.1%
Effective tax rate	36.2%	32.9%	36.6%	36.0%	36.4%	36.8%	36.8%	37.3%	19.5%	24.0%	23.3%	23.4%	24.0%	24.7%	22.2%	24.8%	25.0%	21.1%
Capital spending as % of revenue	0.8%	0.8%	1.2%	1.4%	0.8%	0.6%	0.5%	0.6%	0.8%	2.0%	1.8%	0.5%	0.4%	0.2%	0.2%	0.1%	0.1%	0.2%
Free cash flow ÷ net income	107.6%	115.9%	143.3%	136.5%	126.5%	135.6%	133.5%	150.8%	118.6%	118.3%	119.7%	232.0%	110.8%	230.6%	419.4%	458.3%	248.4%	372.7%
Dividends and buybacks ÷ free cash flow	0.3%	102.5%	48.6%	50.9%	42.2%	95.2%	21.6%	24.3%	22.1%	19.0%	38.2%	49.2%	138.6%	63.5%	16.9%	27.6%	68.9%	53.6%

US$ thousands unless shown otherwise. Fiscal quarters.

Credit Acceptance Corp: financial ratios, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Net margin	26.8%	18.6%	15.0%	18.6%	21.0%	23.4%	23.1%	−9.5%
Free-cash-flow margin	54.0%	60.6%	23.9%	51.3%	46.4%	59.6%	52.4%	56.2%
Debt to equity	56.7%	63.5%	69.9%	68.9%	71.4%	71.9%	68.6%	78.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

75 /100

Strong moat

How hard Credit Acceptance's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 10 / 20

Net income has been a median 6.8% of total assets over 10 years.
Durability 14 / 20

Net margin has been a median 30.0%; its worst year was 9.1%.
Cash conversion 20 / 20

Free cash flow was positive in 10 of 10 years, at a median 54.4% of revenue.
Discipline 20 / 20

The diluted share count fell 36.1% over five years; stock-based pay has been a median 1.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (80 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Credit Acceptance Corp's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Credit Acceptance Corp.