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TrueCar (TRUE) Financials

TrueCar logo
$2.54 0.00 (0.00%)
As of 07/10/2026
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Annual Income Statements for TrueCar

Annual Income Statements for TrueCar

This table shows TrueCar's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -48 -65 -42 -33 -28 -55 77 -38 -119 -50 -31
Consolidated Net Income / (Loss)		 -48 -65 -42 -33 -28 -55 77 -38 -119 -50 -31
Net Income / (Loss) Continuing Operations		 -48 -65 -42 -33 -32 -58 -20 -38 -119 -50 -31
Total Pre-Tax Income 		-48 -64 -41 -35 -33 -60 -20 -38 -121 -50 -31
Total Operating Income		 -48 -64 -39 -34 -33 -61 -19 -33 -126 -56 -37
Total Gross Profit		 207 260 278 323 309 307 257 232 145 143 176
Total Revenue		 207 260 278 323 335 335 279 232 162 159 176
Operating Revenue		 207 260 278 323 335 335 279 232 162 159 176
Total Cost of Revenue		 0.00 0.00 0.00 0.00 26 28 22 0.00 16 16 0.00
Total Operating Expenses		 254 324 316 357 342 368 276 265 271 199 213
Selling, General & Admin Expense		 58 83 60 62 53 64 50 49 44 40 43
Marketing Expense		 129 151 154 185 211 227 152 136 105 99 96
Research & Development Expense		 37 48 54 59 60 56 45 41 46 42 30
Depreciation Expense		 13 18 23 22 18 21 21 16 17 18 18
Other Operating Expenses / (Income)		 18 24 25 28 - - - 22 - - 26
Impairment Charge		 - - - - 0.00 0.00 8.26 0.00 60 0.00 0.00
Total Other Income / (Expense), net		 -0.28 -0.32 -2.15 -1.35 0.14 1.20 -1.33 -4.69 4.45 6.72 6.15
Interest & Investment Income		 0.06 0.11 0.38 1.26 2.79 1.20 -1.53 -5.35 4.41 6.72 6.15
Other Income / (Expense), net		 0.04 0.01 - - 0.00 0.00 0.20 0.67 0.04 0.00 0.00
Income Tax Expense		 0.64 0.61 0.66 -2.20 -1.21 -1.32 -0.01 0.21 -2.56 0.02 0.02
Basic Earnings per Share		 ($0.68) ($0.79) ($0.49) ($0.35) - - - - ($1.30) ($0.55) ($0.34)
Weighted Average Basic Shares Outstanding		 70.84M 81.91M 84.48M 94.87M 102.15M 105.81M 106.32M 97.35M 91.45M 89.77M 90.16M
Diluted Earnings per Share		 ($0.68) ($0.79) ($0.49) ($0.35) - - - - ($1.30) ($0.55) ($0.34)
Weighted Average Diluted Shares Outstanding		 70.84M 81.91M 84.48M 94.87M 102.15M 105.81M 106.32M 97.35M 91.45M 89.77M 90.16M
Weighted Average Basic & Diluted Shares Outstanding		 70.84M 81.91M 84.48M 94.87M 102.15M 105.81M 106.32M 97.35M 91.45M 91.17M 87.26M

Quarterly Income Statements for TrueCar

This table shows TrueCar's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 -7.88 -1.90 -5.85 -14 -5.83 -5.85 -10 -7.63 5.00
Consolidated Net Income / (Loss)		 -7.88 -1.90 -5.85 -14 -5.83 -5.85 -10 -7.63 5.00
Net Income / (Loss) Continuing Operations		 -7.88 -1.90 -5.85 -14 -5.83 -5.85 -10 -7.63 5.00
Total Pre-Tax Income 		-7.87 -1.90 -5.84 -14 -5.83 -5.85 -10 -7.62 5.00
Total Operating Income		 -9.58 -3.57 -7.49 -15 -7.39 -7.12 -11 -8.58 -7.35
Total Gross Profit		 41 33 41 42 47 56 36 47 43
Total Revenue		 41 41 41 42 47 46 45 47 43
Operating Revenue		 41 41 41 42 47 46 45 47 43
Total Cost of Revenue		 0.00 8.08 0.00 0.00 0.00 -9.75 8.89 0.00 0.00
Total Operating Expenses		 51 37 49 57 54 63 47 56 51
Selling, General & Admin Expense		 9.53 7.22 9.49 15 9.56 8.64 10 8.81 9.15
Marketing Expense		 23 22 22 24 25 25 25 25 23
Research & Development Expense		 9.34 6.90 8.12 7.43 7.18 6.91 8.12 7.10 6.97
Depreciation Expense		 4.89 4.52 4.59 4.68 4.41 4.36 3.90 3.42 2.57
Other Operating Expenses / (Income)		 3.81 - 4.26 5.48 7.74 - - 11 8.80
Total Other Income / (Expense), net		 1.71 1.67 1.64 1.67 1.56 1.27 1.07 0.96 12
Interest & Investment Income		 1.71 1.67 1.64 1.67 1.56 1.27 1.07 0.96 0.95
Other Income / (Expense), net		 - - - - 0.00 - - - 11
Income Tax Expense		 0.00 0.00 0.01 0.00 0.00 0.00 0.01 0.00 0.00
Weighted Average Basic Shares Outstanding		 90.18M 89.77M 91.23M 91.85M 90.32M 90.16M 87.31M 87.87M 88.53M
Weighted Average Diluted Shares Outstanding		 90.18M 89.77M 91.23M 91.85M 90.32M 90.16M 87.31M 87.87M 88.94M
Weighted Average Basic & Diluted Shares Outstanding		 90.78M 91.17M 91.67M 90.89M 86.96M 87.26M 87.68M 88.44M 88.94M

Annual Cash Flow Statements for TrueCar

This table details how cash moves in and out of TrueCar's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 104 -35 -4.65 90 -1.63 -15 92 -28 -70 -39 -25
Net Cash From Operating Activities		 3.10 -11 2.77 22 25 20 39 14 -29 -22 7.70
Net Cash From Continuing Operating Activities		 3.10 -11 2.77 22 16 13 30 14 -29 -22 7.70
Net Income / (Loss) Continuing Operations		 -48 -65 -42 -33 -32 -58 -20 -38 -119 -50 -31
Consolidated Net Income / (Loss)		 -48 -65 -42 -33 -28 -55 77 -38 -119 -50 -31
Depreciation Expense		 13 17 23 22 18 21 20 16 17 18 18
Amortization Expense		 - - - - 0.00 5.95 5.41 4.30 3.94 2.98 0.97
Non-Cash Adjustments To Reconcile Net Income		 40 44 27 34 38 33 39 23 77 9.68 17
Changes in Operating Assets and Liabilities, net		 -1.40 -8.04 -5.63 -1.61 -7.89 11 -15 8.94 -7.47 -3.01 3.02
Net Cash From Investing Activities		 -9.82 -30 -17 -20 -43 -34 102 -4.21 -8.03 -12 -7.86
Net Cash From Continuing Investing Activities		 -9.82 -30 -17 -20 -42 -33 -10 -11 -8.03 -12 -7.86
Purchase of Property, Plant & Equipment		 -16 -30 -17 -20 -16 -10 -10 -11 -12 -12 -7.86
Acquisitions		 -0.37 - 0.00 0.00 -27 -23 0.00 0.00 -12 0.00 0.00
Divestitures		 - - - - - - 0.00 0.00 16 0.00 0.00
Net Cash From Financing Activities		 110 6.04 9.22 88 17 -0.48 -49 -38 -33 -4.33 -25
Net Cash From Continuing Financing Activities		 110 6.04 9.22 88 17 -0.48 -49 -38 -33 -4.33 -25
Repurchase of Common Equity		 - - - - 0.00 0.00 -43 -32 -30 0.00 -20
Other Financing Activities, net		 15 6.04 9.32 70 17 -0.48 -6.42 -6.14 -2.75 -4.33 -4.88
Cash Income Taxes Paid		 0.02 0.05 0.08 0.04 0.03 0.03 0.04 1.55 -0.13 0.18 -0.01

Quarterly Cash Flow Statements for TrueCar

This table details how cash moves in and out of TrueCar's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025
Net Change in Cash & Equivalents		 3.07 -8.51 -3.28 -5.73 -13 -2.67 -14 -5.51 11
Net Cash From Operating Activities		 5.48 -5.80 2.05 -2.00 1.80 5.86 -7.90 -2.83 13
Net Cash From Continuing Operating Activities		 5.48 -5.80 2.05 -2.00 1.80 5.86 -7.90 -2.83 13
Net Income / (Loss) Continuing Operations		 -7.88 -1.90 -5.85 -14 -5.83 -5.85 -10 -7.63 5.00
Consolidated Net Income / (Loss)		 -7.88 -1.90 -5.85 -14 -5.83 -5.85 -10 -7.63 5.00
Depreciation Expense		 4.89 4.52 4.59 4.68 4.41 4.36 3.90 3.42 2.57
Amortization Expense		 0.66 0.63 0.59 -0.29 0.34 0.33 0.34 0.34 0.35
Non-Cash Adjustments To Reconcile Net Income		 0.74 -2.24 3.23 7.91 2.73 2.84 3.20 3.10 1.36
Changes in Operating Assets and Liabilities, net		 7.07 -6.81 -0.51 -0.79 0.15 4.17 -5.20 -2.05 3.44
Net Cash From Investing Activities		 -2.37 -2.34 -2.56 -1.62 -1.97 -1.71 -2.68 -1.97 -1.53
Net Cash From Continuing Investing Activities		 -2.37 -2.34 -2.56 -1.62 -1.97 -1.71 -2.68 -1.97 -1.53
Purchase of Property, Plant & Equipment		 -2.37 -2.34 -2.56 -1.62 -1.97 -1.71 -2.68 -1.97 -1.53
Net Cash From Financing Activities		 -0.04 -0.37 -2.77 -2.11 -13 -6.82 -3.24 -0.72 -0.53
Net Cash From Continuing Financing Activities		 -0.04 -0.37 -2.77 -2.11 -13 -6.82 -3.24 -0.72 -0.53
Other Financing Activities, net		 -0.04 -0.37 -2.77 -0.77 -0.62 -0.72 -3.24 -0.59 -0.53

Annual Balance Sheets for TrueCar

This table presents TrueCar's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 297 302 294 385 421 422 458 388 252 204 160
Total Current Assets		 185 153 153 244 255 240 325 270 198 163 135
Cash & Equivalents		 148 112 108 198 196 182 273 245 176 137 112
Accounts Receivable		 29 34 37 39 48 38 33 17 14 18 16
Prepaid Expenses		 5.19 6.05 6.04 5.48 7.47 7.16 5.80 6.15 5.97 6.07 4.50
Other Current Assets		 3.04 0.78 2.28 1.15 4.10 6.03 13 1.87 2.56 1.79 3.05
Plant, Property, & Equipment, net		 31 71 67 71 62 28 21 19 19 19 16
Total Noncurrent Assets		 82 78 75 71 104 154 112 99 35 22 8.83
Intangible Assets		 28 24 20 16 23 9.00 6.60 4.95 14 8.38 1.97
Other Noncurrent Operating Assets		 0.48 0.94 1.55 1.39 7.23 40 34 28 21 14 6.86
Total Liabilities & Shareholders' Equity		 297 302 294 385 421 422 458 388 252 204 160
Total Liabilities		 48 70 70 72 74 94 75 58 54 44 42
Total Current Liabilities		 39 39 35 38 42 54 43 31 31 29 33
Accounts Payable		 13 19 14 19 26 21 13 11 8.66 6.88 7.93
Accrued Expenses		 12 12 13 13 11 20 18 9.68 10 12 17
Current Employee Benefit Liabilities		 14 7.80 8.95 6.57 4.35 5.97 6.51 5.19 7.38 6.67 4.89
Other Current Liabilities		 - - - - - 5.88 4.77 5.25 4.51 3.24 2.96
Total Noncurrent Liabilities		 8.90 31 35 34 33 40 32 26 23 15 8.66
Capital Lease Obligations		 6.09 27 29 29 23 - 32 - 19 11 8.31
Other Noncurrent Operating Liabilities		 0.56 1.18 2.68 3.80 9.29 39 0.39 26 4.98 3.96 0.35
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 249 233 225 313 347 327 383 330 197 160 118
Total Preferred & Common Equity		 249 233 225 313 347 327 383 330 197 160 118
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 249 233 225 313 347 327 383 330 197 160 118
Common Stock		 460 509 543 664 720 759 738 724 710 723 711
Retained Earnings		 -211 -276 -318 -351 -373 -432 -356 -394 -513 -562 -593

Quarterly Balance Sheets for TrueCar

This table presents TrueCar's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025
Total Assets		 212 194 183 168 145 140 149
Total Current Assets		 167 155 154 140 122 118 126
Cash & Equivalents		 145 134 128 115 98 93 103
Accounts Receivable		 14 15 16 17 15 16 13
Prepaid Expenses		 6.09 4.85 6.90 6.56 4.94 6.47 6.02
Other Current Assets		 1.78 1.70 2.75 2.71 3.65 2.67 2.96
Plant, Property, & Equipment, net		 20 18 17 16 15 15 14
Total Noncurrent Assets		 25 20 12 11 7.59 6.80 8.70
Intangible Assets		 9.98 6.77 5.17 3.57 0.78 0.00 0.00
Other Noncurrent Operating Assets		 15 13 7.00 7.28 6.81 6.80 8.70
Total Liabilities & Shareholders' Equity		 212 194 183 168 145 140 149
Total Liabilities		 52 37 39 40 34 33 35
Total Current Liabilities		 34 27 29 30 26 26 28
Accounts Payable		 9.96 9.17 9.08 7.74 10 10 9.07
Accrued Expenses		 10 12 14 15 9.83 9.07 11
Current Employee Benefit Liabilities		 7.97 2.71 3.50 4.99 2.64 3.28 3.98
Other Current Liabilities		 5.28 3.16 2.08 2.29 3.26 3.48 3.69
Total Noncurrent Liabilities		 18 11 10 9.61 7.97 7.26 6.54
Capital Lease Obligations		 15 10 9.92 9.26 7.62 6.92 6.20
Other Noncurrent Operating Liabilities		 3.85 0.35 0.35 0.35 0.35 0.35 0.35
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 160 156 144 128 111 106 114
Total Preferred & Common Equity		 160 156 144 128 111 106 114
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 160 156 144 128 111 106 114
Common Stock		 720 724 726 715 715 717 720
Retained Earnings		 -560 -568 -582 -587 -603 -611 -606

Annual Metrics And Ratios for TrueCar

This table displays calculated financial ratios and metrics derived from TrueCar's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 54.26% 25.74% 6.80% 16.45% 3.69% -0.01% -16.82% -16.86% -30.29% -1.74% 10.64%
EBITDA Growth		 -192.90% -35.41% 66.32% 28.34% -35.59% -123.86% 121.81% -263.99% -759.65% 65.98% 49.22%
EBIT Growth		 -109.94% -34.76% 39.19% 13.46% 1.78% -84.06% 69.90% -79.12% -282.97% 55.06% 34.16%
NOPAT Growth		 -109.94% -34.68% 39.20% 13.46% 1.78% -84.06% 69.57% -80.81% -275.46% 55.08% 34.16%
Net Income Growth		 -93.28% -34.03% 35.75% 21.24% 13.78% -93.81% 239.45% -150.07% -209.65% 58.07% 37.61%
EPS Growth		 -58.14% -16.18% 37.97% 28.57% 0.00% 0.00% 0.00% 0.00% 0.00% 57.69% 38.18%
Operating Cash Flow Growth		 179.37% -466.27% 124.35% 699.06% 12.28% -18.08% 92.28% -63.71% -305.28% 23.07% 134.36%
Free Cash Flow Firm Growth		 65.01% -107.45% 69.63% 12.72% -132.92% 171.27% -209.93% 168.72% -307.49% 42.07% 81.54%
Invested Capital Growth		 7.38% 36.71% -1.10% -0.83% 20.02% -45.97% 29.70% -42.35% -42.56% -14.48% -57.54%
Revenue Q/Q Growth		 0.00% 3.22% 3.93% 2.88% -3.05% 0.91% -4.01% -7.25% -5.39% 3.00% 2.88%
EBITDA Q/Q Growth		 0.00% -54.73% 56.72% -59.71% -32.47% 11.82% 173.33% -91.05% -7.16% 30.02% -28.32%
EBIT Q/Q Growth		 0.00% -37.86% 33.90% -12.22% 0.58% -1.66% 21.90% -15.15% -6.89% 21.97% -10.54%
NOPAT Q/Q Growth		 0.00% -37.89% 33.90% -12.22% 0.58% -1.66% 21.05% -15.80% -6.92% 21.97% -10.54%
Net Income Q/Q Growth		 0.00% -37.23% 31.85% -1.62% 6.85% -4.61% 500.02% -159.58% -2.02% 24.60% -14.56%
EPS Q/Q Growth		 0.00% -41.07% 33.78% 2.78% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 205.61% -567.19% 164.99% -0.74% 17.20% 26.35% 6.33% -54.83% -32.35% 12.24% 294.81%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 40.48% -34.52% -82.62% 208.15% -803.79% -24.30% -10.53% 8.91% 64.10%
Invested Capital Q/Q Growth		 0.00% 0.65% -1.69% 0.46% 16.34% -33.76% -6.19% -3.07% -5.57% 18.86% -35.73%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 92.20% 91.69% 92.27% 100.00% 89.96% 90.01% 100.00%
EBITDA Margin		 -16.69% -17.97% -5.67% -3.49% -4.56% -10.21% 2.68% -5.28% -65.13% -22.55% -10.35%
Operating Margin		 -22.99% -24.62% -14.02% -10.42% -9.87% -18.16% -6.64% -14.45% -77.82% -35.58% -21.17%
EBIT Margin		 -22.97% -24.62% -14.02% -10.42% -9.87% -18.16% -6.57% -14.16% -77.79% -35.58% -21.17%
Profit (Net Income) Margin		 -23.44% -24.98% -15.03% -10.17% -8.45% -16.38% 27.47% -16.54% -73.48% -31.36% -17.68%
Tax Burden Percent		 101.34% 100.94% 101.60% 93.82% 86.02% 92.01% -385.71% 100.44% 97.89% 100.03% 100.05%
Interest Burden Percent		 100.68% 100.53% 105.54% 104.01% 99.58% 98.03% 108.34% 116.31% 96.49% 88.10% 83.47%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -31.96% -35.12% -18.59% -16.24% -14.56% -31.90% -12.04% -24.46% -159.51% -105.87% -106.15%
ROIC Less NNEP Spread (ROIC-NNEP)		 -15.33% -17.38% -0.96% -8.74% -11.53% -25.85% -48.22% -18.74% -144.78% -98.63% -101.77%
Return on Net Nonoperating Assets (RNNOA)		 7.16% 8.18% 0.34% 4.02% 5.97% 15.60% 33.60% 13.70% 114.48% 78.03% 83.84%
Return on Equity (ROE)		 -24.80% -26.94% -18.24% -12.22% -8.59% -16.29% 21.56% -10.76% -45.04% -27.84% -22.31%
Cash Return on Invested Capital (CROIC)		 -39.07% -66.14% -17.48% -15.41% -32.76% 27.79% -37.91% 29.26% -105.45% -90.26% -25.37%
Operating Return on Assets (OROA)		 -20.13% -21.35% -13.04% -9.91% -8.21% -14.44% -4.16% -7.76% -39.32% -24.77% -20.43%
Return on Assets (ROA)		 -20.53% -21.66% -13.98% -9.67% -7.03% -13.03% 17.40% -9.06% -37.14% -21.83% -17.06%
Return on Common Equity (ROCE)		 -22.94% -26.94% -18.24% -12.22% -8.59% -16.29% 21.56% -10.76% -45.04% -27.84% -22.31%
Return on Equity Simple (ROE_SIMPLE)		 -19.43% -27.90% -18.57% -10.49% -8.17% -16.77% 20.00% -11.62% -60.16% -31.06% -26.28%
Net Operating Profit after Tax (NOPAT)		 -33 -45 -27 -24 -23 -43 -13 -23 -88 -40 -26
NOPAT Margin		 -16.09% -17.24% -9.81% -7.29% -6.91% -12.71% -4.65% -10.11% -54.47% -24.91% -14.82%
Net Nonoperating Expense Percent (NNEP)		 -16.63% -17.74% -17.63% -7.50% -3.03% -6.04% 36.18% -5.72% -14.73% -7.24% -4.38%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - -40.78% -23.06% -20.58%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 7.80% 8.31% 7.73% 0.00% 10.04% 9.99% 0.00%
SG&A Expenses to Revenue		 28.21% 32.13% 21.59% 19.08% 15.75% 19.20% 17.94% 21.04% 27.29% 25.41% 24.56%
R&D to Revenue		 17.69% 18.48% 19.31% 18.28% 17.98% 16.75% 16.12% 17.88% 28.53% 26.62% 16.88%
Operating Expenses to Revenue		 122.99% 124.62% 114.02% 110.42% 102.07% 109.86% 98.91% 114.45% 167.78% 125.59% 121.17%
Earnings before Interest and Taxes (EBIT)		 -47 -64 -39 -34 -33 -61 -18 -33 -126 -56 -37
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -34 -47 -16 -11 -15 -34 7.46 -12 -105 -36 -18
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 7.09 3.39 4.76 3.58 2.72 1.55 1.14 0.99 1.12 1.96 2.75
Price to Tangible Book Value (P/TBV)		 10.52 5.07 7.05 4.59 3.77 1.96 1.35 1.19 1.21 2.07 2.79
Price to Revenue (P/Rev)		 8.55 3.04 3.85 3.47 2.81 1.51 1.57 1.41 1.37 1.98 1.85
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 5.71 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17.51% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 15.08 4.78 6.79 6.58 4.44 3.23 1.45 0.95 1.59 5.47 15.11
Enterprise Value to Revenue (EV/Rev)		 7.86 2.71 3.57 2.94 2.30 0.90 0.63 0.29 0.40 1.19 1.26
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 23.58 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 523.58 0.00 357.43 43.01 30.97 14.89 4.50 4.68 0.00 0.00 28.68
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 8.16 0.00 2.37 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.02 0.12 0.13 0.09 0.07 0.00 0.08 0.00 0.09 0.07 0.07
Long-Term Debt to Equity		 0.02 0.12 0.13 0.09 0.07 0.00 0.08 0.00 0.09 0.07 0.07
Financial Leverage		 -0.47 -0.47 -0.36 -0.46 -0.52 -0.60 -0.70 -0.73 -0.79 -0.79 -0.82
Leverage Ratio		 1.21 1.24 1.31 1.26 1.22 1.25 1.24 1.19 1.21 1.28 1.31
Compound Leverage Factor		 1.22 1.25 1.38 1.31 1.22 1.23 1.34 1.38 1.17 1.12 1.09
Debt to Total Capital		 2.39% 10.39% 11.38% 8.51% 6.22% 0.00% 7.71% 0.00% 8.57% 6.52% 6.57%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 2.39% 10.39% 11.38% 8.51% 6.22% 0.00% 7.71% 0.00% 8.57% 6.52% 6.57%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 97.61% 89.61% 88.62% 91.49% 93.78% 100.00% 92.29% 100.00% 91.43% 93.48% 93.43%
Debt to EBITDA		 -0.18 -0.58 -1.83 -2.58 -1.50 0.00 4.28 0.00 -0.18 -0.31 -0.46
Net Debt to EBITDA		 4.10 1.83 5.02 14.96 11.33 0.00 -35.01 0.00 1.49 3.52 5.70
Long-Term Debt to EBITDA		 -0.18 -0.58 -1.83 -2.58 -1.50 0.00 4.28 0.00 -0.18 -0.31 -0.46
Debt to NOPAT		 -0.18 -0.60 -1.06 -1.24 -0.99 0.00 -2.47 0.00 -0.21 -0.28 -0.32
Net Debt to NOPAT		 4.25 1.91 2.90 7.16 7.48 0.00 20.16 0.00 1.78 3.18 3.98
Long-Term Debt to NOPAT		 -0.18 -0.60 -1.06 -1.24 -0.99 0.00 -2.47 0.00 -0.21 -0.28 -0.32
Altman Z-Score		 21.96 6.13 8.65 9.28 7.50 2.63 3.61 3.01 -0.62 1.07 0.58
Noncontrolling Interest Sharing Ratio		 7.48% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.75 3.91 4.32 6.41 6.15 4.43 7.58 8.57 6.43 5.63 4.11
Quick Ratio		 4.54 3.74 4.09 6.24 5.87 4.06 7.14 8.32 6.15 5.36 3.88
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -41 -84 -26 -22 -52 37 -41 28 -58 -34 -6.22
Operating Cash Flow to CapEx		 19.99% -38.11% 16.64% 111.66% 154.09% 199.82% 380.63% 132.79% -249.46% -189.80% 97.98%
Free Cash Flow to Firm to Interest Expense		 -106.99 -190.39 -10.12 -8.57 -19.66 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 8.17 -25.66 1.09 8.47 9.37 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -32.70 -93.01 -5.48 0.88 3.29 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.88 0.87 0.93 0.95 0.83 0.80 0.63 0.55 0.51 0.70 0.96
Accounts Receivable Turnover		 8.69 8.31 7.86 8.50 7.71 7.79 7.83 9.34 10.59 9.90 10.33
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 8.99 5.09 4.01 4.70 5.07 7.50 11.33 11.42 8.49 8.40 10.15
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 1.16 1.17 1.25 0.00 1.62 2.04 0.00
Days Sales Outstanding (DSO)		 41.99 43.90 46.45 42.94 47.34 46.84 46.60 39.09 34.46 36.86 35.34
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 313.70 312.33 292.33 0.00 225.34 178.75 0.00
Cash Conversion Cycle (CCC)		 41.99 43.90 46.45 42.94 -266.35 -265.48 -245.72 39.09 -190.89 -141.89 35.34
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 108 147 146 144 173 94 122 70 40 34 15
Invested Capital Turnover		 1.99 2.04 1.89 2.23 2.11 2.51 2.59 2.42 2.93 4.25 7.16
Increase / (Decrease) in Invested Capital		 7.40 40 -1.62 -1.21 29 -80 28 -51 -30 -5.83 -20
Enterprise Value (EV)		 1,625 703 989 951 769 303 176 66 64 188 221
Market Capitalization		 1,767 789 1,068 1,120 942 506 437 326 221 314 324
Book Value per Share		 $3.23 $2.81 $2.63 $3.13 $3.33 $3.07 $3.68 $3.44 $2.24 $1.76 $1.36
Tangible Book Value per Share		 $2.18 $1.88 $1.77 $2.44 $2.40 $2.43 $3.12 $2.85 $2.08 $1.67 $1.34
Total Capital		 255 260 253 342 370 327 415 330 216 171 126
Total Debt		 6.09 27 29 29 23 0.00 32 0.00 19 11 8.31
Total Long-Term Debt		 6.09 27 29 29 23 0.00 32 0.00 19 11 8.31
Net Debt		 -141 -85 -79 -169 -173 -203 -261 -260 -157 -126 -104
Capital Expenditures (CapEx)		 16 30 17 20 16 10 10 11 12 12 7.86
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1.87 1.48 9.83 7.81 18 4.04 8.75 -6.76 -8.46 -2.86 -9.60
Debt-free Net Working Capital (DFNWC)		 146 114 118 206 214 186 282 238 167 134 102
Net Working Capital (NWC)		 146 114 118 206 214 186 282 238 167 134 102
Net Nonoperating Expense (NNE)		 15 20 14 9.28 5.18 12 -90 15 31 10 5.02
Net Nonoperating Obligations (NNO)		 -141 -85 -79 -169 -173 -234 -261 -260 -157 -126 -104
Total Depreciation and Amortization (D&A)		 13 17 23 22 18 27 26 21 20 21 19
Debt-free, Cash-free Net Working Capital to Revenue		 -0.91% 0.57% 3.54% 2.42% 5.30% 1.20% 3.14% -2.92% -5.24% -1.80% -5.47%
Debt-free Net Working Capital to Revenue		 70.49% 43.82% 42.36% 63.62% 63.83% 55.39% 101.21% 102.92% 103.42% 84.50% 58.22%
Net Working Capital to Revenue		 70.49% 43.82% 42.36% 63.62% 63.83% 55.39% 101.21% 102.92% 103.42% 84.50% 58.22%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.68) ($0.79) ($0.49) ($0.35) ($0.28) ($0.52) $0.00 $0.00 $0.00 $0.00 ($0.34)
Adjusted Weighted Average Basic Shares Outstanding		 80.42M 83.52M 86.67M 100.56M 104.88M 107.08M 98.50M 96.56M 88.69M 89.77M 90.16M
Adjusted Diluted Earnings per Share		 ($0.68) ($0.79) ($0.49) ($0.35) ($0.28) ($0.52) $0.00 $0.00 $0.00 $0.00 ($0.34)
Adjusted Weighted Average Diluted Shares Outstanding		 80.42M 83.52M 86.67M 100.56M 104.88M 107.08M 98.50M 96.56M 88.69M 89.77M 90.16M
Adjusted Basic & Diluted Earnings per Share		 ($0.68) ($0.79) ($0.49) ($0.35) ($0.28) ($0.52) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 70.84M 81.91M 84.48M 94.87M 102.15M 105.81M 106.32M 97.35M 91.45M 91.17M 87.26M
Normalized Net Operating Profit after Tax (NOPAT)		 -33 -45 -27 -24 -23 -43 -7.18 -23 -46 -40 -26
Normalized NOPAT Margin		 -16.09% -17.24% -9.81% -7.29% -6.91% -12.71% -2.58% -10.11% -28.57% -24.91% -14.82%
Pre Tax Income Margin		 -23.13% -24.75% -14.79% -10.83% -9.83% -17.81% -7.12% -16.47% -75.06% -31.35% -17.67%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -124.92 -144.40 -15.38 -12.90 -12.48 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 -87.51 -101.10 -10.76 -9.03 -8.74 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 -165.79 -211.75 -21.95 -20.49 -18.57 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -128.38 -168.45 -17.34 -16.62 -14.82 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 55.94% -83.34% -25.09% 0.00% -64.71%

Quarterly Metrics And Ratios for TrueCar

This table displays calculated financial ratios and metrics derived from TrueCar's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025
DEI Shares Outstanding		 90,060,682.00 90,780,216.00 90,780,216.00 91,668,140.00 90,889,437.00 - 174,512,068.00 87,676,368.00 88,441,491.00
DEI Adjusted Shares Outstanding		 90,060,682.00 90,780,216.00 90,780,216.00 91,668,140.00 90,889,437.00 - 174,512,068.00 87,676,368.00 88,441,491.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.09 -0.02 -0.06 -0.15 -0.06 - -0.06 -0.09 0.06
Growth Metrics		 - - - - - - - - -
Revenue Growth		 5.36% 12.61% 11.01% 6.37% 13.12% 11.92% 9.15% 12.45% -7.17%
EBITDA Growth		 94.48% 111.49% 85.63% 37.52% 34.40% -253.54% -201.56% 55.31% 363.60%
EBIT Growth		 87.74% 81.65% 64.64% 31.42% 22.88% -99.22% -49.61% 43.52% 154.81%
NOPAT Growth		 87.74% 81.65% 64.64% 31.42% 22.88% -99.22% -49.61% 43.52% -42.03%
Net Income Growth		 89.79% 89.51% 70.11% 33.80% 25.96% -207.52% -73.32% 43.59% 185.70%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth		 182.21% 35.03% 116.93% 79.95% -67.14% 200.97% -485.31% -41.14% 606.78%
Free Cash Flow Firm Growth		 127.80% -79.45% -137.45% -97.63% -84.96% 345.40% 132.26% -168.38% -271.45%
Invested Capital Growth		 -32.05% -14.48% 30.97% -31.63% -21.47% -57.54% -36.75% -19.71% -24.41%
Revenue Q/Q Growth		 4.72% 0.34% -0.57% 1.81% 11.36% -0.72% -3.02% 4.88% -8.07%
EBITDA Q/Q Growth		 76.67% 139.27% -245.95% -367.35% 75.51% 8.10% -186.66% 30.75% 244.48%
EBIT Q/Q Growth		 56.74% 62.70% -109.49% -102.93% 51.36% 3.65% -57.32% 23.39% 147.20%
NOPAT Q/Q Growth		 56.74% 62.70% -109.49% -102.93% 51.36% 3.65% -57.32% 23.39% -22.31%
Net Income Q/Q Growth		 61.44% 75.85% -207.47% -131.19% 56.87% -0.31% -73.29% 24.75% 165.52%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 154.82% -205.88% 135.33% -197.76% 189.87% 225.28% -234.84% 64.19% 550.02%
Free Cash Flow Firm Q/Q Growth		 -87.59% -52.16% -489.90% 110.25% -21.31% 1,316.51% -71.76% -121.73% -97.30%
Invested Capital Q/Q Growth		 -23.42% 18.86% -4.96% -20.98% -12.03% -35.73% 41.57% 0.32% -17.18%
Profitability Metrics		 - - - - - - - - -
Gross Margin		 100.00% 80.43% 100.00% 100.00% 100.00% 121.09% 80.16% 100.00% 100.00%
EBITDA Margin		 -9.79% 3.83% -5.62% -25.82% -5.68% -5.26% -15.54% -10.26% 16.12%
Operating Margin		 -23.28% -8.65% -18.23% -36.34% -15.87% -15.40% -24.99% -18.25% -17.01%
EBIT Margin		 -23.28% -8.65% -18.23% -36.34% -15.87% -15.40% -24.99% -18.25% 9.37%
Profit (Net Income) Margin		 -19.14% -4.61% -14.25% -32.35% -12.53% -12.66% -22.62% -16.23% 11.57%
Tax Burden Percent		 100.01% 100.16% 100.12% 100.02% 100.05% 100.03% 100.06% 100.04% 99.96%
Interest Burden Percent		 82.19% 53.15% 78.04% 88.99% 78.88% 82.14% 90.46% 88.87% 123.46%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.04%
Return on Invested Capital (ROIC)		 -70.17% -25.75% -72.02% -132.08% -73.36% -77.23% -117.50% -101.20% -154.30%
ROIC Less NNEP Spread (ROIC-NNEP)		 -69.40% -26.18% -71.59% -129.72% -72.80% -76.48% -115.35% -99.60% -166.51%
Return on Net Nonoperating Assets (RNNOA)		 56.18% 20.71% 59.36% 102.92% 59.73% 63.00% 92.29% 81.05% 139.05%
Return on Equity (ROE)		 -13.99% -5.04% -12.67% -29.16% -13.63% -14.23% -25.21% -20.14% -15.25%
Cash Return on Invested Capital (CROIC)		 -103.36% -90.26% -130.64% -41.21% -67.03% -25.37% -62.17% -81.11% -92.25%
Operating Return on Assets (OROA)		 -14.83% -6.03% -14.03% -30.05% -14.28% -14.86% -26.48% -20.87% 10.74%
Return on Assets (ROA)		 -12.19% -3.21% -10.96% -26.75% -11.27% -12.21% -23.97% -18.56% 13.26%
Return on Common Equity (ROCE)		 -13.99% -5.04% -12.67% -29.16% -13.63% -14.23% -25.21% -20.14% -15.25%
Return on Equity Simple (ROE_SIMPLE)		 -41.28% 0.00% -23.10% 0.00% 0.00% 0.00% -31.81% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -6.71 -2.50 -5.24 -11 -5.17 -4.98 -7.84 -6.01 -7.35
NOPAT Margin		 -16.30% -6.06% -12.76% -25.44% -11.11% -10.78% -17.49% -12.78% -17.00%
Net Nonoperating Expense Percent (NNEP)		 -0.77% 0.42% -0.43% -2.36% -0.56% -0.76% -2.15% -1.59% 12.21%
Return On Investment Capital (ROIC_SIMPLE)		 - -1.46% -3.15% -6.91% -3.77% -3.94% -6.60% -5.30% -6.10%
Cost of Revenue to Revenue		 0.00% 19.57% 0.00% 0.00% 0.00% -21.09% 19.84% 0.00% 0.00%
SG&A Expenses to Revenue		 23.15% 17.49% 23.11% 36.94% 20.54% 18.71% 22.50% 18.75% 21.19%
R&D to Revenue		 22.70% 16.71% 19.79% 17.78% 15.42% 14.95% 18.12% 15.10% 16.13%
Operating Expenses to Revenue		 123.28% 89.09% 118.23% 136.34% 115.87% 136.49% 105.15% 118.25% 117.01%
Earnings before Interest and Taxes (EBIT)		 -9.58 -3.57 -7.49 -15 -7.39 -7.12 -11 -8.58 4.05
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -4.03 1.58 -2.31 -11 -2.64 -2.43 -6.96 -4.82 6.97
Valuation Ratios		 - - - - - - - - -
Price to Book Value (P/BV)		 1.17 1.96 1.97 1.99 2.45 2.75 1.24 1.57 1.43
Price to Tangible Book Value (P/TBV)		 1.24 2.07 2.06 2.07 2.52 2.79 1.25 1.57 1.43
Price to Revenue (P/Rev)		 1.21 1.98 1.89 1.74 1.84 1.85 0.77 0.90 0.90
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.92 5.47 5.64 6.53 9.16 15.11 2.29 3.90 3.82
Enterprise Value to Revenue (EV/Rev)		 0.36 1.19 1.13 1.02 1.22 1.26 0.26 0.44 0.36
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 28.68 0.00 0.00 8.37
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 0.09 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.05
Long-Term Debt to Equity		 0.09 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.05
Financial Leverage		 -0.81 -0.79 -0.83 -0.79 -0.82 -0.82 -0.80 -0.81 -0.84
Leverage Ratio		 1.29 1.28 1.25 1.30 1.32 1.31 1.27 1.29 1.31
Compound Leverage Factor		 1.06 0.68 0.98 1.15 1.04 1.07 1.15 1.15 1.61
Debt to Total Capital		 8.35% 6.52% 6.23% 6.45% 6.75% 6.57% 6.42% 6.11% 5.15%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 8.35% 6.52% 6.23% 6.45% 6.75% 6.57% 6.42% 6.11% 5.15%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 91.65% 93.48% 93.77% 93.55% 93.25% 93.43% 93.58% 93.89% 94.85%
Debt to EBITDA		 -0.28 -0.31 -0.47 -0.64 -0.65 -0.46 -0.33 -0.41 -0.33
Net Debt to EBITDA		 2.56 3.52 5.60 7.59 7.43 5.70 3.96 5.08 5.20
Long-Term Debt to EBITDA		 -0.28 -0.31 -0.47 -0.64 -0.65 -0.46 -0.33 -0.41 -0.33
Debt to NOPAT		 -0.29 -0.28 -0.35 -0.40 -0.39 -0.32 -0.27 -0.29 -0.26
Net Debt to NOPAT		 2.58 3.18 4.12 4.71 4.47 3.98 3.16 3.57 4.05
Long-Term Debt to NOPAT		 -0.29 -0.28 -0.35 -0.40 -0.39 -0.32 -0.27 -0.29 -0.26
Altman Z-Score		 -0.22 1.93 2.33 1.40 1.51 1.20 -1.61 -1.23 -0.78
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - -
Current Ratio		 4.97 5.63 5.80 5.33 4.69 4.11 4.71 4.51 4.49
Quick Ratio		 4.74 5.36 5.56 5.00 4.38 3.88 4.37 4.16 4.17
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 6.96 3.33 -13 1.33 1.05 15 4.19 -0.91 -1.79
Operating Cash Flow to CapEx		 231.00% -247.82% 80.04% -123.57% 91.37% 342.60% -295.14% -143.87% 834.23%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 0.64 0.70 0.77 0.83 0.90 0.96 1.06 1.14 1.15
Accounts Receivable Turnover		 11.38 9.90 11.14 10.16 11.17 10.33 11.74 11.30 12.09
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 8.04 8.40 8.73 8.87 9.50 10.15 10.79 11.56 11.79
Accounts Payable Turnover		 2.53 2.04 1.30 0.87 0.91 0.00 0.92 0.91 1.06
Days Sales Outstanding (DSO)		 32.08 36.86 32.77 35.93 32.69 35.34 31.10 32.30 30.19
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 144.49 178.75 281.24 420.59 399.79 0.00 398.01 399.20 345.15
Cash Conversion Cycle (CCC)		 -112.41 -141.89 -248.47 -384.67 -367.10 35.34 -366.91 -366.90 -314.96
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 29 34 33 26 23 15 21 21 17
Invested Capital Turnover		 4.31 4.25 5.64 5.19 6.60 7.16 6.72 7.92 9.08
Increase / (Decrease) in Invested Capital		 -14 -5.83 7.74 -12 -6.22 -20 -12 -5.10 -5.55
Enterprise Value (EV)		 56 188 184 169 208 221 47 81 66
Market Capitalization		 186 314 308 287 314 324 138 167 163
Book Value per Share		 $1.78 $1.76 $1.71 $1.57 $1.41 $1.36 $1.27 $1.21 $1.29
Tangible Book Value per Share		 $1.66 $1.67 $1.64 $1.51 $1.37 $1.34 $1.26 $1.21 $1.29
Total Capital		 174 171 166 154 137 126 119 113 120
Total Debt		 15 11 10 9.92 9.26 8.31 7.62 6.92 6.20
Total Long-Term Debt		 15 11 10 9.92 9.26 8.31 7.62 6.92 6.20
Net Debt		 -131 -126 -123 -118 -105 -104 -90 -86 -97
Capital Expenditures (CapEx)		 2.37 2.34 2.56 1.62 1.97 1.71 2.68 1.97 1.53
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -12 -2.86 -5.12 -2.91 -4.15 -9.60 -1.89 -0.69 -5.53
Debt-free Net Working Capital (DFNWC)		 134 134 129 125 110 102 96 92 98
Net Working Capital (NWC)		 134 134 129 125 110 102 96 92 98
Net Nonoperating Expense (NNE)		 1.17 -0.60 0.61 2.89 0.66 0.87 2.30 1.62 -12
Net Nonoperating Obligations (NNO)		 -131 -126 -123 -118 -105 -104 -90 -86 -97
Total Depreciation and Amortization (D&A)		 5.55 5.16 5.18 4.40 4.75 4.69 4.24 3.76 2.92
Debt-free, Cash-free Net Working Capital to Revenue		 -7.63% -1.80% -3.15% -1.76% -2.43% -5.47% -1.05% -0.37% -3.05%
Debt-free Net Working Capital to Revenue		 86.78% 84.50% 78.98% 75.65% 64.66% 58.22% 53.60% 49.76% 53.89%
Net Working Capital to Revenue		 86.78% 84.50% 78.98% 75.65% 64.66% 58.22% 53.60% 49.76% 53.89%
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 90.18M 89.77M 91.23M 91.85M 90.32M 90.16M 87.31M 87.87M 88.53M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 90.18M 89.77M 91.23M 91.85M 90.32M 90.16M 87.31M 87.87M 88.94M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 90.78M 91.17M 91.67M 90.89M 86.96M 87.26M 87.68M 88.44M 88.94M
Normalized Net Operating Profit after Tax (NOPAT)		 -6.71 -2.50 -5.24 -11 -5.17 -4.98 -7.84 -6.01 -7.35
Normalized NOPAT Margin		 -16.30% -6.06% -12.76% -25.44% -11.11% -10.78% -17.49% -12.78% -17.00%
Pre Tax Income Margin		 -19.14% -4.60% -14.23% -32.34% -12.52% -12.65% -22.61% -16.22% 11.57%
Debt Service Ratios		 - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -7.09% 0.00% 0.00% -4.58% -51.63% -64.71% 0.00% -64.14% -33.45%

Financials Breakdown Chart

Key Financial Trends

TrueCar’s latest quarterly results show a company that remains profitable on an operating-cash-flow basis in Q3 2025, while still posting only modest net income and carrying a balance sheet that has become more levered on lease obligations and less cash-rich than a year ago. Revenue has been relatively stable over the last several quarters, but profitability has been volatile and heavily influenced by operating expense swings and other income items.

  • Q3 2025 operating cash flow improved sharply to $12.7 million, up from -$2.8 million in Q2 2025 and $1.8 million in Q3 2024.
  • The company returned to net income of $5.0 million in Q3 2025 after a $7.6 million loss in Q2 2025 and a $5.8 million loss in Q3 2024.
  • Cash and equivalents increased to $103.2 million at the end of Q3 2025, up from $92.5 million at the end of Q2 2025.
  • TrueCar continues to maintain a substantial equity base, with $114.2 million in total common equity at Q3 2025.
  • Revenue held in a relatively tight range, with Q3 2025 revenue of $43.2 million versus $47.0 million in Q2 2025 and $46.5 million in Q3 2024.
  • The company still generated a strong gross profit profile in Q3 2025, with revenue reported at essentially full gross profit because cost of revenue was reported as $0 in the quarter.
  • Marketing remains a major expense category, at $23.1 million in Q3 2025, which limits operating leverage even when revenue is stable.
  • Shares outstanding remain high at roughly 88.9 million diluted shares in Q3 2025, which can restrain per-share earnings growth.
  • Q3 2025 operating income was still negative at -$7.3 million, showing the core business has not yet reached operating profitability.
  • Total liabilities increased to $34.5 million in Q3 2025 from $33.5 million in Q2 2025, while equity also improved modestly.
  • Capital lease obligations rose to $6.2 million in Q3 2025 from $3.5 million in Q3 2024, indicating more balance-sheet pressure from fixed obligations.
  • Compared with Q3 2024, cash and equivalents declined from $114.5 million to $103.2 million, and total assets also fell from $167.5 million to $148.7 million.
  • TrueCar’s retained earnings remained deeply negative at -$606.1 million, reflecting a long history of cumulative losses.

Bottom line: TrueCar’s Q3 2025 quarter looks better than the prior quarter, with a return to positive net income and a meaningful rebound in operating cash flow. Still, the business remains challenged by thin operating margins, heavy marketing spending, and a balance sheet that is smaller than it was a year ago. Investors will likely want to see whether this quarter marks a sustainable turn rather than a one-quarter improvement.

07/11/26 03:31 PM ETAI Generated. May Contain Errors.

TrueCar Financials - Frequently Asked Questions

According to the most recent income statement we have on file, TrueCar's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

In the past 10 years, TrueCar's net income has ranged from -$118.69 million in 2022 to $76.54 million in 2020, and is currently -$31.05 million as of their latest financial filing in 2024. Check out TrueCar's forecast to explore projected trends and price targets.

TrueCar's total operating income in 2024 was -$37.18 million, based on the following breakdown:
  • Total Gross Profit: $175.60 million
  • Total Operating Expenses: $212.78 million

Over the last 10 years, TrueCar's total revenue changed from $206.65 million in 2014 to $175.60 million in 2024, a change of -15.0%.

TrueCar's total liabilities were at $41.55 million at the end of 2024, a 5.8% decrease from 2023, and a 13.0% decrease since 2014.

In the past 10 years, TrueCar's cash and equivalents has ranged from $107.72 million in 2016 to $273.31 million in 2020, and is currently $111.84 million as of their latest financial filing in 2024.

Over the last 10 years, TrueCar's book value per share changed from 3.23 in 2014 to 1.36 in 2024, a change of -57.9%.


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Financial statements for NASDAQ:TRUE last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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