Vroom, Inc.
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Why this colour
The red rating judges the company, not the share price, and it rests on three documented substance findings rather than on valuation: equity fell from $116.6 million to $98.4 million within one quarter; unrestricted cash stood at $14.5 million on March 31, 2026 against a quarterly loss of $19.0 million; and the near-term maturities depend on related parties ($10.5 million due November 25, 2026, the drawn majority-holder line due December 31, 2026, a $15.0 million redemption right first exercisable March 16, 2027). Add the company's own 10.8 percent markdown on the loan book, which nearly equals total equity. A yellow rating would be supported by the genuine restructuring success and the warehouse facility extended to June 2027; where the evidence sits between two levels, the more cautious one applies. There is expressly no formal going-concern doubt. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Vroom is the odometer trap in its purest form: fresh start accounting on January 14, 2025 gave the books a new zero point, and one of the new numbers looks spectacular — $61.9 million of free cash flow against roughly $36.9 million of market value. The annual report explains where it comes from: since emergence, purchased finance receivables run through investing rather than operating activities, where $419.7 million went out in 2025. Beneath that number sits an unchanged auto lender whose credit losses consume 81 percent of net interest income (Q1 2026), whose equity fell 15.6 percent in one quarter, and which recently had to sell 37 percent of a subsidiary to raise $22.5 million. Not investment advice.
Restructuring success
The prepackaged Chapter 11 case delivered what it was meant to: the notes maturing in 2026 are fully retired, interest expense on corporate debt fell from $5.8 million to $3.0 million, total expenses from $180.8 million to $119.2 million (full year 2024 versus 2025), and the successor-period loss for 2025 was $53.1 million after $165.1 million for 2024. Trade creditors were left unimpaired, and on June 30, 2026 the largest warehouse facility was extended to June 2, 2027.
Earning power and credit quality
The core calculation of an auto lender has not worked for two years: realized and unrealized credit losses consumed about 84 percent of net interest income in 2024 and about 82 percent in 2025; in the first quarter of 2026 it was $24.7 million of $30.4 million, or 81 percent. The loss from continuing operations rose from $6.5 million in the January 15 to March 31, 2025 period to $19.0 million in the first quarter of 2026.
Balance sheet substance
Equity fell from $116.6 million to $98.4 million within a single quarter, down 15.6 percent, and the accumulated deficit that started at zero on January 14, 2025 already stood at $72.7 million on March 31, 2026. Vroom carries its own loan book 10.8 percent below par ($902.0 million of principal against $804.6 million of fair value) — a markdown almost as large as the entire equity.
Funding and dependence
Unrestricted cash stood at only $14.5 million on March 31, 2026. New money has recently been expensive and has come from related parties: $22.5 million in January 2026 in exchange for 37 percent of the subsidiary Vroom Automotive at SOFR plus 8.25 and 9.0 percent, alongside a $35.0 million line from majority holder Mudrick (SOFR plus 8.50 percent, due December 31, 2026) and $10.5 million from the board chair (due November 25, 2026).
Ownership and dilution
Mudrick Capital Management holds 76.10 percent (as of April 16, 2026) and can act without a shareholder meeting — as it did on June 17, 2026 when the share plan reserve was lifted to 1,630,880 shares, roughly 31.3 percent of the capital. Add 364,516 warrants and convertible notes. The free float is about 750,000 shares.
Valuation
Roughly $36.9 million of market value stands against $98.4 million of equity — a price-to-book ratio of about 0.38 and around 4.6 percent of the loan book fair value. The discount is substantial; whether it is too large depends entirely on whether the carrying fair value of the loan book holds. The eye-catching K/FCF of 0.6 is no evidence either way, because it stems from a reclassification.
Worth Noting
Vroom reached our research list at rank 11 in our in-house K/FCF ranking (U.S. selection, 544 hits in total, the 25 strongest displayed; measured live on July 26, 2026). The lists are recalculated daily, so the rank is a snapshot. As verified scanner hits on the same day, the stock appeared in FCF/Market Cap, Pros 80% and U/D Accumulation.
Figures from 2025 are only partly comparable with earlier ones: because of the emergence on January 14, 2025 and fresh start accounting under ASC 852, the year splits into a predecessor and a successor period, and balance sheet values were remeasured at fair value on the emergence date. Where the text names a full year, both periods are combined, as the filing itself does.
Price references relate exclusively to the new stock listed since February 20, 2025; older prices belong to the pre-conversion class and are not directly comparable after the 1-for-5 conversion. Not to be confused: the share VRM on the Nasdaq Global Market and the warrants VRMWW, which trade over the counter on OTCQX.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at VRM since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 6.90 $ to 28.50 $ · Last price: 10.10 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Credit Services
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Vroom, Inc. VRM | 0.1 | – | 340.9 | 65.9 | – | 867.0 | -63.2 |
| Visa Inc. Class A V | 699.4 | 33.2 | 24.3 | 97.7 | 67.4 | 11.3 | 7.7 |
| Mastercard Inc MA | 500.7 | 33.9 | 23.1 | 100.0 | 60.8 | 16.4 | -4.9 |
| American Express Company AXP | 213.1 | 19.5 | 0.0 | 62.3 | 21.3 | 8.4 | -6.4 |
| Capital One Financial Corporation COF | 124.4 | 62.2 | 0.0 | 100.0 | 28.6 | 28.4 | -9.1 |
| PayPal Holdings Inc PYPL | 45.7 | 10.1 | 6.6 | 40.5 | 17.0 | 4.3 | -20.3 |
| Synchrony Financial SYF | 25.3 | 7.7 | 0.0 | 100.0 | 48.0 | -7.9 | 2.1 |
| Affirm Holdings Inc AFRM | 23.7 | 63.7 | 25.7 | 48.9 | 8.5 | 38.8 | -22.3 |
| SoFi Technologies Inc. SOFI | 21.0 | 35.7 | 0.0 | 83.7 | 18.3 | 82.6 | -38.4 |
| Median of companies shown | 45.7 | 33.5 | 6.6 | 83.7 | 24.9 | 16.4 | -9.1 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2018 | 855 | -80 | -85 | -797.85 | -65 | -297 | 393 |
| 2019 | 1,192 | -133 | -143 | -1,329.10 | -216 | -574 | 563 |
| 2020 | 1,358 | -179 | -203 | -221.20 | -355 | 1,227 | 1,724 |
| 2021 | 3,184 | -359 | -371 | -217.50 | -569 | 915 | 2,367 |
| 2022 | 1,949 | -572 | -452 | -262.15 | -109 | 475 | 1,619 |
| 2023 | 893 | -270 | -366 | -209.70 | -534 | 122 | 1,475 |
| 2024 | 12 | -127 | -165 | -91.07 | -97 | -31 | 1,067 |
| 2025 | 112 | 0 | -8 | -1.53 | 75 | 117 | 937 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -19.68 | – | 3 | -98.80 | -1,293.30 | -22 | -24 |
| 2025: Q1 | -1.22 | – | 11 | -77.10 | -56.50 | 17 | 15 |
| 2025: Q2 | -1.64 | – | 22 | -64.00 | -38.90 | 18 | 16 |
| 2025: Q3 | -5.14 | – | 0 | -100.20 | – | 19 | 17 |
| 2025: Q4 | -2.19 | – | 28 | 903.30 | -40.20 | 21 | 20 |
| 2026: Q1 | -3.66 | – | 25 | 122.20 | -76.30 | 19 | 17 |
| 2026: Q2 | -0.01 | 99.40 | – | – | – | 19 | 17 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 3 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
With these assumptions (discount rate 10.0%, terminal growth 2.5%), no growth rate between -20.0% and 60.0% per year explains today’s market value — the reverse calculation yields no meaningful figure here.
| Free cash flow (last twelve months) | $70.8M |
|---|---|
| Market cap | $54.0M |
| Free cash flow in year ten | – |
| Terminal value as a share of market value | – |
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Vroom verkauft KI als eigenes Produkt: Das berichtspflichtige Segment CarStory besteht laut Geschäftsbericht aus dem Verkauf KI-gestützter Analytik und digitaler Dienste an Autohändler und Autofinanzierer — zugleich meldet das Unternehmen, dass KI-Recherchewerkzeuge der Verbraucher den Traffic und damit den Umsatz von CarStory drücken.
View the full file — quotes, sources, reviewed filings
„CarStory offers AI-powered analytics and digital services to dealers, automotive financial services companies, and others in the automotive industry, which use CarStory’s solutions to enhance their customer experience and drive increased vehicle purchases."
CarStory bietet Autohäusern, Autofinanzierern und anderen Marktteilnehmern der Autobranche KI-gestützte Analytik und digitale Dienste an, die deren Kundenerlebnis verbessern und den Fahrzeugabsatz steigern sollen.
10-K · 2026-03-26 · View SEC filing
„The CarStory reportable segment represents sales of AI-powered analytics and digital services to automotive dealers, automotive financial services companies and others in the automotive industry."
Das berichtspflichtige Segment CarStory umfasst den Verkauf KI-gestützter Analytik und digitaler Dienste an Autohändler, Autofinanzierer und weitere Marktteilnehmer der Autobranche.
10-Q · 2026-05-15 · View SEC filing
„An increasing number of consumers conduct online research using AI tools, which has resulted in decreased website traffic and negatively impacted CarStory’s revenue."
Immer mehr Verbraucher recherchieren online mit KI-Werkzeugen, was zu geringerem Website-Verkehr geführt und den Umsatz von CarStory belastet hat.
10-K · 2026-03-26 · View SEC filing
Filings Reviewed: 10-K 2026-03-26 · 10-Q 2026-05-15 · 10-Q 2025-11-10 · 10-Q 2025-08-07 · DEF 14C 2026-06-22 · 8-K 2026-07-07
Rated on July 26, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -61.4%
- More than 10% revenue growth is expected for the coming year 22.6%
- Share count grows by less than 3% a year 44.5%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 927.7%
- Gross margin at 40% or higher and without meaningful erosion 81.2%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 14.9 x EBITDA
- Operating cash flow covers the profits of the last three years -17 m
- Return on capital at 15% or higher, or up versus two years ago 0.0%
- Insiders hold at least 10% or are net buyers 2.9%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
1/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% -25.2%
- Exp. sales growth 3Y > 5% –
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% –
- Net debt < 4x EBIT 4,272.8x
- EBIT positive, 10Y straight 1
- Max. EBIT decline < 50% 0.0%
- Return on equity > 15% -7.6%
- ROCE > 15% 0.0%
- Expected return > 10% –
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
The company
About the Company
Vroom, Inc. ist über seine Tochtergesellschaften ein Automobil-Finanzierungsunternehmen.
- Employees
- 649
- Headquarters
- Fort Worth, TX
- Address
- 4700 Mercantile Dr., 76137 Fort Worth, United States
- Phone
- 518 535 9125
- Website
- vroom.com
- IPO Date
- 06/09/2020
- ISIN
- US92918V3078
- Stock Split
- 1:80 on 02/14/2024
Management
| Name | Title | Birth Year |
|---|---|---|
| Thomas H. Shortt | CEO & Director | 1969 |
| Jonathan R. Sandison | CFO & Treasurer | 1988 |
| Anna-Lisa C. Corrales | Chief Legal Officer, Chief Compliance Officer & Secretary | 1976 |
| Jacob Shlomo Benzaquen | Senior VP of Accounting & Principal Accounting Officer | 1986 |
| Allen Miller | Investor Relations Officer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/28/2026 Vroom, Inc. (VRM): Other Events SEC ↗
- 08/04/2026 Vroom, Inc. (VRM): Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
- 07/06/2026 Vroom, Inc. (VRM): Entry into a Material Definitive Agreement; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.