LKQ CORP
$19.47
−0.24 (−1.22%) · delayed · Nov 13, 2026
Five-year price
52w $16.85 to $37.13
- Market cap
- $4.9B
- Enterprise value
- $4.6B
- P/E
- 8.3×
- 6.9× on 3y avg EPS
- EV / EBIT
- 4.6×
- FCF yield
- 17.2%
- ROIC
- 11.9%
- Debt / equity
- —
- Piotroski F
- 5/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
100
- ●ROIC > 12% (5y avg)5y avg ROIC 17.3%
- ●ROE > 15% (5y avg)5y avg ROE 15.2%
- ●Stable operating marginsMargin volatility 1.9% (σ, 5y)
- ●Earnings convert to cashFCF / net income 110% (5y avg)
- ●Growing revenueRevenue CAGR 5y 3.3%
- ●Shrinking share countDiluted shares -15.5% over 5y
Value
100
- ●P/E below 15P/E 8.3
- ●EV/EBIT below 12EV/EBIT 4.6
- ●FCF yield above 6%FCF yield 17.2%
- ●Price below Graham NumberGraham Number $37.01
- ●P/B below 3P/B 0.8
Safety
67
- –Debt / equity below 0.5D/E n/a
- ●Debt payable in < 4 yrs of earningsNet debt $-0.3B
- –Interest coverage > 8xCoverage n/ax
- ●Current ratio > 1.5Current ratio 1.67
- ○Piotroski F-score ≥ 6F-score 5/9
Graham Defensive
71
- ●Adequate size (revenue > $2B)Revenue $13.7B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.67
- ●Earnings stability (no loss, 10y)10 years of data
- ○Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 78%
- ●Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 6.9
- ●P/E × P/B ≤ 22.5Product 5.2
Valuation lab
What do you have to believe?
At $19.47, the market is pricing in about −12.3% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt −$319M · 252M shares · 5y revenue CAGR 3.3%
Intrinsic value
$56.21
Price
$19.47
Margin of safety
65%
What the price implies
The market is paying for −12.3% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
55% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 8,584 | 9,737 | 11,877 | 12,506 | 11,629 | 13,089 | 12,794 | 13,269 | 13,823 | 13,651 |
| Gross profit | 3,352 | 3,800 | 4,575 | 4,852 | 4,593 | 5,322 | 5,223 | 5,353 | 5,384 | 5,265 |
| Operating income | 763 | 845 | 882 | 897 | 986 | 1,474 | 1,581 | 1,324 | 1,145 | 993 |
| Operating margin | 8.9% | 8.7% | 7.4% | 7.2% | 8.5% | 11.3% | 12.4% | 10.0% | 8.3% | 7.3% |
| Pre-tax income | 677 | 767 | 743 | 791 | 885 | 1,399 | 1,518 | 1,223 | 926 | 800 |
| Income tax | 221 | 236 | 191 | 215 | 250 | 331 | 385 | 304 | 265 | 204 |
| Net income | 464 | 534 | 480 | 541 | 638 | 1,092 | 1,150 | 938 | 693 | 608 |
| EPS (diluted) | 1.50 | 1.72 | 1.52 | 1.74 | 2.09 | 3.66 | 4.13 | 3.49 | 2.62 | 2.35 |
| Diluted shares | 310 | 311 | 316 | 311 | 305 | 298 | 278 | 268 | 264 | 258 |
Who owns it