CACCCREDIT ACCEPTANCE CORP
Personal Credit Institutions
- Revenue
- $2.3B
- 7.2% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $4.7B
- Employees
- —
- Net debt / EBITDA
- —
- $1.8B net debt
- AI in 10-K
- 3.5
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo2487851× net incomeCash flow under 80% of net income
- Dilutive SBCNo2% of revenueOver 10% of revenue
- Payouts exceed cash flowNo69% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo83% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo3.5 per 10K words · 74th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$4.7B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$87M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.9B | $1.8B | $1.9B | $2.2B | $2.3B | 7.2% |
| Net income | $958 | $536 | $286 | $248 | $424 | 71% |
| Operating cash flow | $1.1B | $1.2B | $1.2B | $1.1B | $1.1B | 7.3% |
| Capex | $8M | $3M | $4M | $2M | $2M | 11% |
| Stock-based comp | $25M | $37M | $39M | $45M | $51M | 13% |
| Buybacks | $1.5B | $785M | $203M | $313M | $725M | 132% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Jul 7, 2026 | Prescott General Partners LLC | SCHEDULE 13D/A | 28.9% | Passive |
| Jun 5, 2026 | Donald A. Foss 2009 Annuity Trust | SCHEDULE 13D/A | 32.1% | Passive |
| Jun 5, 2026 | Watson Jill Foss | SCHEDULE 13D/A | 24.2% | Passive |
| Jul 7, 2025 | Prescott General Partners LLC | SCHEDULE 13D/A | 26.4% | Passive |
| Dec 6, 2024 | Donald A. Foss 2009 Annuity Trust | SCHEDULE 13D/A | 27.5% | Passive |
| Mar 25, 2024 | Watson Jill Foss | SC 13D/A | 26.7% | Passive |
| Mar 22, 2024 | Donald A. Foss 2009 Annuity Trust | SC 13D/A | 29.0% | Passive |
| Feb 14, 2024 | Watson Jill Foss | SC 13D/A | 21.0% | Passive |
| Sep 21, 2023 | Donald A. Foss 2009 Annuity Trust | SC 13D/A | 29.4% | Passive |
| Sep 16, 2022 | Donald A. Foss 2009 Annuity Trust | SC 13D | 32.0% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $87M · 235
- Net
- −$87M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 128 | 198 |
| FY2024 | — | — | 106 | 199 |
| FY2023 | — | — | 120 | 152 |
| FY2022 | — | — | 107 | 126 |
| FY2021 | — | — | 155 | 148 |