Recent News
On August 8, 2025 the company filed its Annual Report on Form 10‑K for the fiscal year ended April 30, 2025. On August 14, 2025 Nasdaq confirmed the company regained compliance with periodic filing requirements after that 10‑K filing. On August 29, 2025 the company completed a $172 million term securitization with a reported weighted average coupon of 5.46%, citing improved pricing versus prior issuances.
Technical Analysis
ADX at 42.38 signals very strong trend strength, implying current directional pressure carries material force into the coming weeks.
DI+ sits at 12.34 with a decreasing trend, a bearish directional reading relative to DI-. DI- sits at 36.63 and shows a peak & reversal, a bullish sign for declining downside pressure; with ADX elevated, these contrary directional signals imply a decisive move remains possible once one side reasserts itself.
MACD reads -3.43 with a dip & reversal pattern while the MACD signal line stands at -3.17; MACD remains negative and below its signal line, so momentum still tracks from prior weakness even as the MACD pattern signals a growing upside momentum potential.
MRO at -32.76 with a peak & reversal places price below the internal target, indicating mean‑reversion potential toward fair value over a technical horizon.
RSI at 37.42 and trending downward reflects weak short‑term momentum and room for further downside before hitting extreme low RSI levels; this adds to the case for continued volatility rather than a steady trend reversal.
Price closed at $32.16, below the 20‑day average $34.47, the 50‑day average $43.98 and the 200‑day average $48.21, while the 12‑day EMA trend decreased; price also sits beneath the 1x Bollinger lower band ($32.58), creating conditions where mean reversion could produce a bounce but moving averages and ADX argue for an overall bearish bias until technical confirmation occurs.
Fundamental Analysis
Revenue and margins: total revenue $341,312,000 with YoY revenue growth +68.15% but sequential revenue decline noted QoQ at -157.14% (as provided). Gross margin reached 48.70%, above the industry peer mean of 38.71%, supporting higher unit economics on vehicle sales. Operating margin stands at 2.827% (operating income $9,649,000), and EBIT margin at 2.824% sits below the industry peer mean of 11.075% and well under the industry peer median of 12.55%; both EBIT margin QoQ and YoY contracted by -64.98% and -42.66% respectively, signaling recent compression versus prior periods.
Earnings and cash flow: GAAP net income recorded -$5,736,000 with diluted EPS -$0.69 versus an estimate of $0.83, a miss of $1.52 representing an EPS surprise of -183.13%. Operating cash flow totaled -$5,918,000 and free cash flow came in negative at -$6,377,000, with a free cash flow yield of -1.58%. Cash conversion cycle stands at 351.93 days, far above the industry peer mean of 74.05 days, reflecting extended collections and working capital tied up in finance receivables and customer payment profiles.
Balance sheet and leverage: cash equals $9,666,000 while net debt totals $772,930,000 versus a market capitalization of $403,002,956, producing net leverage materially above market capitalization. Debt to assets at 52.83% and debt to equity at 1.504 indicate elevated leverage versus the industry peer mean of 39.82% (debt to assets) and mean debt to equity of 1.0659. Interest coverage measured at 0.566x fell well below the industry peer mean of 17.92x, indicating limited earnings cushion relative to interest obligations.
Valuation metrics: P/B at 0.71 sits below the industry peer mean of 5.10; PE ratio is negative at -70.56 while forward PE reads 70.30 on forward EPS $0.7525. Enterprise value to revenue and enterprise multiple sit elevated relative to operating performance (enterprise multiple 105.52). WMDST values the stock as fair‑valued, reflecting low market multiples offset by elevated leverage, compressed operating margins and negative near‑term cash generation. The August securitization that improved ABS pricing provides financing relief but leaves structural leverage and working capital dynamics as central drivers of valuation.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-07-31 |
| REPORT DATE: | 2025-09-04 |
| NEXT REPORT DATE: | 2025-12-11 |
| CASH FLOW | Begin Period Cash Flow | $ 124.5 M |
| Operating Cash Flow | $ -5.92 M | |
| Capital Expenditures | $ -459.00 K | |
| Change In Working Capital | $ -116.99 M | |
| Dividends Paid | $ -10.00 K | |
| Cash Flow Delta | $ -3.11 M | |
| End Period Cash Flow | $ 121.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 341.3 M | |
| Forward Revenue | $ -92.66 M | |
| COSTS | ||
| Cost Of Revenue | $ 175.1 M | |
| Depreciation | $ 2.1 M | |
| Depreciation and Amortization | $ 2.1 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 331.7 M | |
| PROFITABILITY | ||
| Gross Profit | $ 166.2 M | |
| EBITDA | $ 11.8 M | |
| EBIT | $ 9.6 M | |
| Operating Income | $ 9.6 M | |
| Interest Income | — | |
| Interest Expense | $ 17.0 M | |
| Net Interest Income | $ -17.04 M | |
| Income Before Tax | $ -7.40 M | |
| Tax Provision | $ -1.67 M | |
| Tax Rate | 22.507 % | |
| Net Income | $ -5.74 M | |
| Net Income From Continuing Operations | $ -5.74 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.83 | |
| EPS Actual | $ -0.69 | |
| EPS Difference | $ -1.52 | |
| EPS Surprise | -183.133 % | |
| Forward EPS | $ 0.75 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.6 B | |
| Intangible Assets | $ 23.7 M | |
| Net Tangible Assets | $ 541.5 M | |
| Total Current Assets | $ 1.4 B | |
| Cash and Short-Term Investments | $ 9.7 M | |
| Cash | $ 9.7 M | |
| Net Receivables | $ 1.2 B | |
| Inventory | $ 112.5 M | |
| Long-Term Investments | $ 39.2 M | |
| LIABILITIES | ||
| Accounts Payable | $ 34.0 M | |
| Short-Term Debt | $ 171.8 M | |
| Total Current Liabilities | $ 336.1 M | |
| Net Debt | $ 772.9 M | |
| Total Debt | $ 849.5 M | |
| Total Liabilities | $ 1.0 B | |
| EQUITY | ||
| Total Equity | $ 564.8 M | |
| Retained Earnings | $ 666.5 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 68.24 | |
| Shares Outstanding | 8.278 M | |
| Revenue Per-Share | $ 41.23 | |
| VALUATION | Market Capitalization | $ 403.0 M |
| Enterprise Value | $ 1.2 B | |
| Enterprise Multiple | 105.517 | |
| Enterprise Multiple QoQ | 169.899 % | |
| Enterprise Multiple YoY | 248.185 % | |
| Enterprise Multiple IPRWA | CRMT: 105.517 high: 98.981 mean: 48.309 median: 47.862 low: -11.538 |
|
| EV/R | 3.641 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.847 | |
| Asset To Liability | 1.542 | |
| Debt To Capital | 0.601 | |
| Debt To Assets | 0.528 | |
| Debt To Assets QoQ | 0.435 % | |
| Debt To Assets YoY | 337.685 % | |
| Debt To Assets IPRWA | high: 1.051 CRMT: 0.528 mean: 0.398 median: 0.345 low: 0.22 |
|
| Debt To Equity | 1.504 | |
| Debt To Equity QoQ | 1.347 % | |
| Debt To Equity YoY | 283.29 % | |
| Debt To Equity IPRWA | high: 4.226 CRMT: 1.504 mean: 1.066 median: 0.879 low: 0.457 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.713 | |
| Price To Book QoQ | -0.392 % | |
| Price To Book YoY | -15.148 % | |
| Price To Book IPRWA | high: 10.417 mean: 5.102 median: 4.947 CRMT: 0.713 low: -4.028 |
|
| Price To Earnings (P/E) | -70.559 | |
| Price To Earnings QoQ | -280.115 % | |
| Price To Earnings YoY | -82.907 % | |
| Price To Earnings IPRWA | high: 151.774 median: 63.603 mean: 63.518 CRMT: -70.559 low: -89.111 |
|
| PE/G Ratio | 0.456 | |
| Price To Sales (P/S) | 1.181 | |
| Price To Sales QoQ | 7.161 % | |
| Price To Sales YoY | 3.669 % | |
| Price To Sales IPRWA | high: 10.893 mean: 4.811 median: 4.552 CRMT: 1.181 low: 0.22 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 70.299 | |
| Forward PE/G | -0.454 | |
| Forward P/S | -4.349 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 8.684 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.212 | |
| Asset Turnover Ratio QoQ | -7.822 % | |
| Asset Turnover Ratio YoY | -8.133 % | |
| Asset Turnover Ratio IPRWA | high: 0.642 mean: 0.365 median: 0.345 CRMT: 0.212 low: 0.109 |
|
| Receivables Turnover | 0.289 | |
| Receivables Turnover Ratio QoQ | -9.251 % | |
| Receivables Turnover Ratio YoY | -7.641 % | |
| Receivables Turnover Ratio IPRWA | high: 90.77 mean: 17.193 median: 15.181 low: 5.51 CRMT: 0.289 |
|
| Inventory Turnover | 1.558 | |
| Inventory Turnover Ratio QoQ | 1.379 % | |
| Inventory Turnover Ratio YoY | -7.27 % | |
| Inventory Turnover Ratio IPRWA | CRMT: 1.558 high: 1.521 mean: 0.914 median: 0.749 low: 0.364 |
|
| Days Sales Outstanding (DSO) | 315.848 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 351.932 | |
| Cash Conversion Cycle Days QoQ | 4.309 % | |
| Cash Conversion Cycle Days YoY | 6.717 % | |
| Cash Conversion Cycle Days IPRWA | CRMT: 351.932 high: 224.823 median: 82.267 mean: 74.054 low: 12.498 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.313 | |
| CapEx To Revenue | -0.001 | |
| CapEx To Depreciation | -0.215 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.2 B | |
| Net Invested Capital | $ 1.3 B | |
| Invested Capital | $ 1.3 B | |
| Net Tangible Assets | $ 541.5 M | |
| Net Working Capital | $ 1.1 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.029 | |
| Current Ratio | 4.244 | |
| Current Ratio QoQ | 10.824 % | |
| Current Ratio YoY | 13.429 % | |
| Current Ratio IPRWA | CRMT: 4.244 high: 2.149 median: 1.477 mean: 1.454 low: 0.784 |
|
| Quick Ratio | 3.909 | |
| Quick Ratio QoQ | 10.815 % | |
| Quick Ratio YoY | 14.19 % | |
| Quick Ratio IPRWA | CRMT: 3.909 high: 1.528 mean: 0.557 median: 0.554 low: 0.063 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 72.124 | |
| Cost Of Debt | 1.733 % | |
| Interest Coverage Ratio | 0.566 | |
| Interest Coverage Ratio QoQ | -67.079 % | |
| Interest Coverage Ratio YoY | -39.527 % | |
| Interest Coverage Ratio IPRWA | high: 52.0 median: 19.258 mean: 17.922 CRMT: 0.566 low: -12.777 |
|
| Operating Cash Flow Ratio | -0.023 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 15.979 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | -573.6 | |
| Dividend Payout Ratio | -0.002 | |
| Dividend Rate | $ 0.00 | |
| Dividend Yield | 0.0 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.093 % | |
| Revenue Growth | -7.797 % | |
| Revenue Growth QoQ | -157.138 % | |
| Revenue Growth YoY | 68.148 % | |
| Revenue Growth IPRWA | high: 40.558 % mean: 9.316 % median: 7.654 % low: -7.013 % CRMT: -7.797 % |
|
| Earnings Growth | -154.762 % | |
| Earnings Growth QoQ | -164.339 % | |
| Earnings Growth YoY | -55.782 % | |
| Earnings Growth IPRWA | high: 285.714 % mean: 23.381 % median: 11.304 % CRMT: -154.762 % low: -225.0 % |
|
| MARGINS | ||
| Gross Margin | 48.704 % | |
| Gross Margin QoQ | 4.046 % | |
| Gross Margin YoY | 5.076 % | |
| Gross Margin IPRWA | high: 68.419 % CRMT: 48.704 % median: 39.15 % mean: 38.713 % low: 16.321 % |
|
| EBIT Margin | 2.824 % | |
| EBIT Margin QoQ | -64.98 % | |
| EBIT Margin YoY | -42.66 % | |
| EBIT Margin IPRWA | high: 18.428 % median: 12.55 % mean: 11.075 % CRMT: 2.824 % low: -2.672 % |
|
| Return On Sales (ROS) | 2.827 % | |
| Return On Sales QoQ | -65.146 % | |
| Return On Sales YoY | -42.599 % | |
| Return On Sales IPRWA | high: 18.428 % median: 12.55 % mean: 11.063 % CRMT: 2.827 % low: -3.764 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -6.38 M | |
| Free Cash Flow Yield | -1.582 % | |
| Free Cash Flow Yield QoQ | -135.039 % | |
| Free Cash Flow Yield YoY | -60.735 % | |
| Free Cash Flow Yield IPRWA | high: 7.329 % mean: 1.511 % median: 1.07 % CRMT: -1.582 % low: -2.178 % |
|
| Free Cash Growth | -134.626 % | |
| Free Cash Growth QoQ | -15.018 % | |
| Free Cash Growth YoY | -509.26 % | |
| Free Cash Growth IPRWA | high: 280.049 % median: -86.123 % mean: -123.838 % CRMT: -134.626 % low: -534.848 % |
|
| Free Cash To Net Income | 1.112 | |
| Cash Flow Margin | -2.227 % | |
| Cash Flow To Earnings | 1.325 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | -0.357 % | |
| Return On Assets QoQ | -153.927 % | |
| Return On Assets YoY | 457.812 % | |
| Return On Assets IPRWA | high: 4.767 % median: 3.611 % mean: 2.89 % CRMT: -0.357 % low: -1.307 % |
|
| Return On Capital Employed (ROCE) | 0.758 % | |
| Return On Equity (ROE) | -0.01 | |
| Return On Equity QoQ | -154.39 % | |
| Return On Equity YoY | 395.61 % | |
| Return On Equity IPRWA | high: 0.115 median: 0.1 mean: 0.075 CRMT: -0.01 low: -0.041 |
|
| DuPont ROE | -1.012 % | |
| Return On Invested Capital (ROIC) | 0.554 % | |
| Return On Invested Capital QoQ | -70.657 % | |
| Return On Invested Capital YoY | -92.853 % | |
| Return On Invested Capital IPRWA | high: 11.206 % median: 8.13 % mean: 6.668 % CRMT: 0.554 % low: -1.999 % |
|