NASDAQ : CARG
CarGurus, Inc. — Financial statements
Consumer Discretionary · Auto & Truck Dealerships · United States
Last price 32.18 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.87B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
CarGurus, Inc. (CARG) reported revenue of 967.27M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 967.27M | 906.98M | 798.04M | 698.42M | 1.66B | 951.37M |
| Cost of Revenue | 73.75M | 65.47M | 60.60M | 61.81M | 997.32M | 293.37M |
| Gross Profit | 893.52M | 841.51M | 737.45M | 636.61M | 657.72M | 658.00M |
| Selling, General & Admin | 475.79M | 442.29M | 410.66M | 372.79M | 409.82M | 388.25M |
| Research & Development | 145.34M | 138.28M | 139.01M | 136.76M | 123.77M | 106.42M |
| Operating Expenses | 637.07M | 596.57M | 558.79M | 516.28M | 549.08M | 509.09M |
| Operating Income | 256.45M | 244.94M | 178.65M | 120.33M | 108.64M | 148.91M |
| Interest & Investment Income | 6.55M | 9.15M | 12.20M | 18.44M | 3.85M | 120.00K |
| Other Non Operating Income (Expenses) | -1.94M | -762.00K | -957.00K | 364.00K | -961.00K | 972.00K |
| EBT Excluding Unusual Items | 261.06M | 253.33M | 189.89M | 139.13M | 111.53M | 150.01M |
| Asset Writedown | -20.15M | -499.00K | -21.51M | -165.00K | -647.00K | |
| Pretax Income | 240.91M | 252.83M | 168.39M | 139.13M | 111.36M | 149.36M |
| Income Tax Expense | 53.80M | 56.09M | 39.65M | 46.69M | 32.41M | 38.99M |
| Earnings From Continuing Operations | 187.10M | 196.74M | 128.74M | 92.44M | 78.95M | 110.37M |
| Earnings From Discontinued Operations | -11.16M | -40.84M | -107.77M | -70.38M | ||
| Net Income to Company | 175.94M | 155.90M | 20.97M | 22.05M | 78.95M | 110.37M |
| Minority Interest in Earnings | 9.05M | 114.83M | -110.53M | |||
| Net Income | 175.94M | 155.90M | 20.97M | 31.10M | 193.78M | -154.00K |
| Net Income to Common | 175.94M | 155.90M | 20.97M | 31.10M | 193.78M | -154.00K |
| Shares Outstanding (Basic) | 94.39M | 98.84M | 104.54M | 113.24M | 118.47M | 117.14M |
| Shares Outstanding (Diluted) | 95.64M | 100.41M | 106.26M | 114.19M | 128.15M | 117.14M |
| EPS (Basic) | 1.86 | 1.58 | 0.20 | 0.27 | 1.64 | -0.00 |
| EPS (Diluted) | 1.40 | 1.14 | -0.81 | -0.43 | 0.62 | -0.00 |
| Free Cash Flow | 315.21M | 288.90M | 180.32M | 99.96M | 250.18M | 90.58M |
| Free Cash Flow Per Share | 3.30 | 2.88 | 1.70 | 0.88 | 1.95 | 0.77 |
| Gross Margin | 92.38% | 92.78% | 92.41% | 91.15% | 39.74% | 69.16% |
| Operating Margin | 26.51% | 27.01% | 22.39% | 17.23% | 6.56% | 15.65% |
| Profit Margin | 18.19% | 17.19% | 2.63% | 4.45% | 11.71% | -0.02% |
| Free Cash Flow Margin | 32.59% | 31.85% | 22.60% | 14.31% | 15.12% | 9.52% |
| EBITDA | 272.86M | 259.49M | 192.41M | 159.30M | 145.05M | 185.41M |
| EBITDA Margin | 28.21% | 28.61% | 24.11% | 22.81% | 8.76% | 19.49% |
| D&A For EBITDA | 16.41M | 14.55M | 13.76M | 38.97M | 36.41M | 36.50M |
| EBIT | 256.45M | 244.94M | 178.65M | 120.33M | 108.64M | 148.91M |
| EBIT Margin | 26.51% | 27.01% | 22.39% | 17.23% | 6.56% | 15.65% |
| Effective Tax Rate | 22.34% | 22.18% | 23.55% | 33.56% | 29.10% | 26.10% |
| Revenue as Reported | 1.66B | 951.37M | ||||
| Advertising Expenses | 183.00M | 160.70M | 138.80M | 156.13M | 151.46M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 122.14M | 190.52M | 304.19M | 291.36M | 469.52M | 231.94M |
| Short-Term Investments | 20.72M | 90.00M | ||||
| Cash & Short-Term Investments | 122.14M | 190.52M | 304.19M | 312.09M | 469.52M | 321.94M |
| Receivables | 43.74M | 41.94M | 38.28M | 39.96M | 46.82M | 189.32M |
| Inventory | 331.00K | 5.28M | 19.66M | |||
| Prepaid Expenses | 21.43M | 35.26M | 26.25M | 25.15M | 21.97M | 16.43M |
| Restricted Cash | 2.04M | 2.56M | 5.24M | 6.71M | ||
| Other Current Assets | 15.28M | 15.23M | 20.45M | 11.10M | 8.54M | 9.04M |
| Total Current Assets | 202.59M | 282.95M | 391.21M | 391.19M | 557.37M | 563.11M |
| Property, Plant & Equipment | 227.51M | 248.43M | 245.88M | 253.05M | 97.00M | 92.82M |
| Goodwill | 27.93M | 28.40M | 26.60M | 157.90M | 157.47M | 158.29M |
| Other Intangible Assets | 2.74M | 3.25M | 4.02M | 23.06M | 53.05M | 83.92M |
| Long-Term Deferred Tax Assets | 76.08M | 81.20M | 106.67M | 73.36M | 35.49M | 13.38M |
| Long-Term Deferred Charges | 13.99M | 14.46M | 14.60M | 14.93M | 11.29M | 5.87M |
| Other Long-Term Assets | 4.28M | 3.20M | 35.57M | 5.45M | 15.44M | 14.20M |
| Total Assets | 555.13M | 661.90M | 824.54M | 918.93M | 927.10M | 931.57M |
| Accounts Payable | 36.06M | 29.11M | 21.82M | 47.85M | 32.53M | 66.15M |
| Accrued Expenses | 33.02M | 38.39M | 32.22M | 33.72M | 39.19M | 50.51M |
| Current Portion of Leases | 9.85M | 9.47M | 9.01M | 12.28M | 14.76M | 13.19M |
| Current Income Taxes Payable | 5.63M | |||||
| Current Unearned Revenue | 24.96M | 23.56M | 21.52M | 21.32M | 12.25M | 12.78M |
| Other Current Liabilities | 8.48M | 28.07M | ||||
| Total Current Liabilities | 109.52M | 100.54M | 93.05M | 115.18M | 98.73M | 170.71M |
| Long-Term Leases | 175.30M | 181.36M | 183.74M | 182.11M | 51.66M | 57.52M |
| Long-Term Deferred Tax Liabilities | 442.00K | 26.00K | 58.00K | 54.00K | 58.00K | |
| Other Long-Term Liabilities | 5.95M | 5.35M | 6.03M | 4.73M | 5.30M | 23.64M |
| Total Liabilities | 290.77M | 287.70M | 282.85M | 302.07M | 155.74M | 251.93M |
| Common Stock | 90.00K | 95.00K | 104.00K | 108.00K | 118.00K | 118.00K |
| Additional Paid-In Capital | 6.76M | 10.30M | 169.01M | 263.50M | 413.09M | 387.87M |
| Retained Earnings | 257.38M | 362.38M | 375.12M | 354.15M | 323.04M | 129.26M |
| Comprehensive Income & Other | 126.00K | 1.43M | -2.55M | -901.00K | -1.64M | -403.00K |
| Total Common Equity | 264.36M | 374.20M | 541.69M | 616.85M | 734.61M | 516.84M |
| Minority Interest | 36.75M | 162.81M | ||||
| Shareholders' Equity | 264.36M | 374.20M | 541.69M | 616.85M | 771.36M | 679.65M |
| Total Liabilities & Equity | 555.13M | 661.90M | 824.54M | 918.93M | 927.10M | 931.57M |
| Total Debt | 185.14M | 190.83M | 192.74M | 194.39M | 66.42M | 70.70M |
| Net Cash (Debt) | -63.01M | -315.00K | 111.45M | 117.70M | 403.10M | 251.24M |
| Net Cash Per Share | -0.66 | -0.00 | 1.05 | 1.03 | 3.15 | 2.14 |
| Filing Date Shares Outstanding | 89.07M | 95.19M | 104.42M | 107.44M | 114.87M | 118.07M |
| Total Common Shares Outstanding | 89.33M | 94.88M | 103.99M | 108.17M | 117.64M | 117.77M |
| Working Capital | 93.07M | 182.41M | 298.15M | 276.01M | 458.63M | 392.40M |
| Book Value Per Share | 2.96 | 3.94 | 5.21 | 5.70 | 6.24 | 4.39 |
| Tangible Book Value | 233.68M | 342.55M | 511.07M | 435.90M | 524.09M | 274.64M |
| Tangible Book Value Per Share | 2.62 | 3.61 | 4.91 | 4.03 | 4.46 | 2.33 |
| Machinery | 15.49M | 17.74M | 21.05M | 9.47M | 16.49M | 16.96M |
| Construction In Progress | 39.84M | 4.16M | 854.00K | |||
| Leasehold Improvements | 77.51M | 86.13M | 95.69M | 23.31M | 24.23M | 24.08M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 175.94M | 155.90M | 20.97M | 31.10M | 193.78M | -154.00K |
| Depreciation & Amortization | 16.41M | 14.55M | 13.76M | 38.97M | 36.41M | 36.50M |
| Other Amortization | 32.66M | 30.72M | 26.09M | 21.83M | 20.13M | 16.63M |
| Loss (Gain) From Sale of Assets | -460.00K | |||||
| Asset Writedown & Restructuring Costs | 20.16M | 32.55M | 144.43M | 184.00K | 165.00K | 3.13M |
| Stock-Based Compensation | 51.14M | 50.44M | 62.27M | 63.74M | 54.78M | 53.52M |
| Provision & Write-off of Bad Debts | 2.78M | 2.42M | 2.05M | 378.00K | 1.77M | 999.00K |
| Other Operating Activities | 44.03M | 25.38M | -33.19M | -47.11M | -136.79M | 116.62M |
| Change in Accounts Receivable | -4.96M | 675.00K | -4.87M | 10.97M | 152.95M | -174.77M |
| Change in Inventory | 711.00K | 338.00K | -112.00K | 1.96M | 14.37M | -17.32M |
| Change in Accounts Payable | 3.39M | 3.56M | -4.66M | 2.08M | -35.05M | 35.40M |
| Change in Unearned Revenue | 1.58M | 1.85M | 362.00K | 9.07M | -525.00K | 3.66M |
| Change in Other Net Operating Assets | -25.11M | -23.10M | 28.39M | -8.19M | -45.89M | 24.08M |
| Operating Cash Flow | 318.72M | 295.28M | 255.49M | 124.53M | 256.11M | 98.29M |
| Capital Expenditures | -3.51M | -6.38M | -75.17M | -24.56M | -5.92M | -7.71M |
| Sale of Property, Plant & Equipment | 460.00K | |||||
| Cash Acquisitions | -64.27M | |||||
| Sale (Purchase) of Intangibles | -23.93M | -22.93M | -18.78M | -16.65M | -11.35M | -6.16M |
| Investment in Securities | 20.72M | -20.55M | 90.00M | 10.00M | ||
| Other Investing Activities | 259.00K | -259.00K | ||||
| Investing Cash Flow | -27.44M | -29.32M | -72.97M | -61.56M | 72.73M | -68.15M |
| Short-Term Debt Issued | 46.82M | |||||
| Total Debt Issued | 46.82M | |||||
| Short-Term Debt Repaid | -1.19M | -822.00K | -4.47M | -40.33M | ||
| Long-Term Debt Repaid | -81.00K | -75.00K | -70.00K | -68.00K | -14.29M | |
| Total Debt Repaid | -997.00K | -1.27M | -897.00K | -4.54M | -40.40M | -14.29M |
| Net Debt Issued (Repaid) | -997.00K | -1.27M | -897.00K | -4.54M | -40.40M | 32.53M |
| Issuance of Common Stock | 125.00K | 474.00K | 4.92M | 74.00K | 721.00K | 663.00K |
| Repurchase of Common Stock | -400.73M | -382.96M | -172.66M | -224.12M | -30.45M | -15.39M |
| Other Financing Activities | -25.05M | -22.49M | ||||
| Financing Cash Flow | -401.60M | -383.76M | -168.63M | -253.64M | -92.62M | 17.81M |
| Foreign Exchange Rate Adjustments | -893.00K | 2.09M | -1.60M | 475.00K | -364.00K | -597.00K |
| Net Cash Flow | -111.21M | -115.71M | 12.30M | -190.21M | 235.85M | 47.35M |
| Free Cash Flow | 315.21M | 288.90M | 180.32M | 99.96M | 250.18M | 90.58M |
| Free Cash Flow Margin | 32.59% | 31.85% | 22.60% | 14.31% | 15.12% | 9.52% |
| Free Cash Flow Per Share | 3.30 | 2.88 | 1.70 | 0.88 | 1.95 | 0.77 |
| Levered Free Cash Flow | 241.32M | 219.40M | 90.05M | 178.05M | 241.71M | 112.62M |
| Unlevered Free Cash Flow | 240.81M | 218.89M | 89.54M | 177.54M | 241.57M | 112.62M |
| Cash Interest Paid | 583.00K | 590.00K | 772.00K | 566.00K | 64.00K | |
| Cash Income Tax Paid | 2.13M | 19.76M | 40.78M | 74.78M | 61.00M | 27.52M |
| Change in Working Capital | -24.39M | -16.68M | 19.11M | 15.89M | 85.86M | -128.96M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.01B | 3.66B | 3.79B | 2.71B | 1.67B | 3.96B |
| Enterprise Value | 3.08B | 3.68B | 3.73B | 2.50B | 1.50B | 3.77B |
| Last Close Price | 32.18 | 38.35 | 36.54 | 24.16 | 14.01 | 33.64 |
| PE Ratio | 24.12 | 23.48 | 180.69 | 87.20 | 8.60 | |
| Forward PE | 12.18 | 15.62 | 19.31 | 18.67 | 19.32 | 24.10 |
| PS Ratio | 2.96 | 4.04 | 4.75 | 3.88 | 1.01 | 4.16 |
| PB Ratio | 10.87 | 9.78 | 7.00 | 4.40 | 2.16 | 5.83 |
| P/TBV Ratio | 12.27 | 10.69 | 7.42 | 6.22 | 3.18 | 14.41 |
| P/FCF Ratio | 9.09 | 12.67 | 21.02 | 27.13 | 6.66 | 43.71 |
| P/OCF Ratio | 8.99 | 12.40 | 14.83 | 21.78 | 6.51 | 40.28 |
| PEG Ratio | 0.49 | 0.78 | 1.04 | 1.10 | 1.09 | 1.38 |
| EV/Sales Ratio | 3.03 | 4.05 | 4.68 | 3.58 | 0.91 | 3.96 |
| EV/EBITDA Ratio | 10.74 | 14.16 | 19.39 | 15.68 | 10.34 | 20.31 |
| EV/EBIT Ratio | 11.42 | 15.00 | 20.89 | 20.75 | 13.80 | 25.29 |
| EV/FCF Ratio | 9.29 | 12.72 | 20.69 | 24.98 | 5.99 | 41.58 |
| Debt / Equity Ratio | 0.70 | 0.51 | 0.36 | 0.32 | 0.09 | 0.10 |
| Debt / EBITDA Ratio | 0.62 | 0.67 | 0.86 | 1.03 | 0.42 | 0.35 |
| Debt / FCF Ratio | 0.59 | 0.66 | 1.07 | 1.95 | 0.27 | 0.78 |
| Net Debt / Equity Ratio | 0.24 | 0.00 | -0.21 | -0.19 | -0.52 | -0.37 |
| Net Debt / EBITDA Ratio | 0.23 | 0.00 | -0.58 | -0.74 | -2.78 | -1.35 |
| Net Debt / FCF Ratio | 0.20 | 0.00 | -0.62 | -1.18 | -1.61 | -2.77 |
| Asset Turnover | 1.51 | 1.22 | 0.92 | 0.76 | 1.78 | 1.33 |
| Inventory Turnover | 22.02 | 79.98 | ||||
| Quick Ratio | 1.51 | 2.31 | 3.68 | 3.06 | 5.23 | 3.00 |
| Current Ratio | 1.85 | 2.81 | 4.20 | 3.40 | 5.64 | 3.30 |
| Return on Equity (ROE) | 53.47% | 42.96% | 22.22% | 13.32% | 10.88% | 20.96% |
| Return on Assets (ROA) | 25.02% | 20.60% | 12.81% | 8.15% | 7.31% | 12.98% |
| Return on Invested Capital (ROIC) | 58.54% | 47.37% | 29.39% | 18.43% | 19.34% | 37.84% |
| Return on Capital Employed (ROCE) | 57.60% | 43.60% | 24.40% | 15.00% | 13.10% | 19.60% |
| Earnings Yield | 4.15% | 4.26% | 0.55% | 1.15% | 11.63% | -0.00% |
| FCF Yield | 11.00% | 7.89% | 4.76% | 3.69% | 15.01% | 2.29% |
| Buyback Yield / Dilution | 8.76% | 5.51% | 6.94% | 10.90% | -9.40% | -2.89% |