CarGurus, Inc. (CARG)
CarGurus, Inc., established in Boston, Massachusetts, in 2005, manages a prominent online ecosystem for vehicle transactions, serving both buyers and sellers across the United States and internationally. The company's operations are divided into two main segments: the U.S. Marketplace and Digital Wholesale. Essentially, CarGurus offers an expansive digital automotive marketplace where individuals can search for new and pre-owned vehicle listings from numerous dealerships. Simultaneously, it empowers dealers by linking them with a vast, engaged consumer base and supplying them with practical, data-driven market intelligence. The platform provides an array of specialized features to simplify the car buying and selling journey. For instance, "Digital Deal" allows prospective buyers to begin their purchase directly from a vehicle's detailed listing, while "Finance in Advance" enables qualified consumers to secure pre-approved financing from partnering dealerships. For individuals looking to sell their vehicles, CarGurus offers "Sell My Car – Top Dealer Offers," where dealers present customized trade-in valuations, and "Sell My Car – Instant Max Cash Offer," which facilitates quick online sales of consumer vehicles to dealerships. Furthermore, CarGurus delivers various products to its dealership partners, including listing enhancements and analytical data tools. It also presents advertising avenues for automotive manufacturers and other businesses, focusing on strategies like brand reinforcement, category sponsorship, exclusive automobile segment positioning, and targeted consumer exposure. The company expands its reach through additional platforms such as Autolist, another online automotive marketplace accessible via mobile apps and its website, and PistonHeads, a comprehensive automotive hub featuring a marketplace, an auction platform, and editorial content for car enthusiasts. CarGurus, Inc. adopted its current name in June 2015, having previously operated as CarGurus LLC.
Sector: Services-Computer Processing & Data Preparation
Industry: Internet Content & Information
CarGurus, Inc.
NASDAQ:CARGConsumer Cyclical · Auto - Dealerships
-3.70%$31.52
AH Close$31.52+0.00%vs close
AH Close$31.52+0.00%vs close
Mkt Cap$2.81B
Float72.85M
O/S89.07M
Inst Own89.7%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$938.98M
Net Income$155.9M
Total Assets$661.9M
Free Cash Flow$288.9M
Debt & Equity
Debt 34%
Equity 66%
Total Debt$190.83M
Total Equity$374.2M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in CARG's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$661.9M
Liabilities$287.7M
Accounts Receivable$41.94M
Accounts Payable$29.11M
Inventory$0
PP&E (Net)$248.43M
Goodwill$28.4M
Intangible Assets$3.25M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Revenue | $938.98M | $894.38M | $914.24M | $1.66B | $951.37M | $551.45M | $588.92M | $454.09M | $316.86M | $198.14M | $98.59M |
| YoY Growth | 5.0% | -2.2% | -44.8% | 74.0% | 72.5% | -6.4% | 29.7% | 43.3% | 59.9% | 101.0% | - |
| Cost of Revenue | $103.44M | $155.44M | $262.79M | $997.48M | $294.01M | $42.71M | $36.3M | $24.81M | $17.61M | $9.57M | $4.23M |
| Gross Profit | $835.54M | $738.95M | $651.45M | $657.55M | $657.36M | $508.75M | $552.62M | $429.27M | $299.25M | $188.57M | $94.35M |
| Gross Margin | 89.0% | 82.6% | 71.3% | 39.7% | 69.1% | 92.3% | 93.8% | 94.5% | 94.4% | 95.2% | 95.7% |
| Research and Development | $155.72M | $144.43M | $146.17M | $123.77M | $106.42M | $85.73M | $69.46M | $47.87M | $22.47M | $11.45M | $8.23M |
| Selling, General, and Administrative | $442.29M | $434.31M | $456.83M | $409.82M | $388.25M | $319.14M | $444.28M | $355.41M | $258.85M | $166.91M | $87.68M |
| Other | $43.12M | $146.79M | $15.83M | $15.48M | $14.41M | $6.12M | $4.55M | $10K | $563K | $1.63M | $969K |
| Total Operating Expenses | $641.14M | $725.53M | $618.83M | $549.08M | $509.09M | $410.99M | $518.29M | $406.08M | $283.98M | $180M | $96.88M |
| Operating Income (EBIT) | $194.4M | $13.41M | $32.63M | $108.48M | $148.27M | $97.76M | $34.32M | $23.19M | $15.27M | $8.57M | -$2.53M |
| Operating Margin | 20.7% | 1.5% | 3.6% | 6.6% | 15.6% | 17.7% | 5.8% | 5.1% | 4.8% | 4.3% | -2.6% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $29K | $26K | $12K |
| Interest Income | $9.15M | $12.19M | $18.43M | $3.85M | $120K | $1.07M | $2.98M | $2.28M | $869K | $416K | $0 |
| Other Income (Expense) | $8.4M | $11.24M | $19.06M | $2.88M | $1.09M | $1.35M | $4.38M | $2.29M | $563K | $374K | -$12K |
| Income Before Tax (EBT) | $202.8M | $24.66M | $51.69M | $111.36M | $149.36M | $99.11M | $38.7M | $25.48M | $15.84M | $8.95M | -$2.54M |
| Income Tax Expense | $42.96M | $3.69M | $29.63M | $32.41M | $38.99M | $21.56M | -$3.44M | -$39.69M | $2.64M | $2.45M | -$904K |
| Net Income | $155.9M | $20.97M | $31.1M | $193.78M | $109.24M | $77.55M | $42.15M | $65.17M | $13.2M | $6.5M | -$1.64M |
| Net Income Margin | 16.6% | 2.3% | 3.4% | 11.7% | 11.5% | 14.1% | 7.2% | 14.4% | 4.2% | 3.3% | -1.7% |
| Supplementary Data | |||||||||||
| EPS | 1.59 | 0.20 | 0.19 | 1.64 | -0.00 | 0.69 | 0.38 | 0.60 | 0.13 | -0.25 | -0.03 |
| Diluted EPS | 1.55 | 0.20 | 0.19 | 1.51 | -0.00 | 0.68 | 0.37 | 0.57 | 0.12 | -0.25 | -0.03 |
| Weighted Average OS | 95.29M | 104.54M | 113.24M | 118.47M | 117.14M | 112.85M | 111.45M | 108.83M | 101.66M | 102.69M | 48.02M |
| EBITDA | $231.15M | $173.27M | $100.16M | $156.7M | $189.84M | $107.95M | $42.14M | $30.51M | $19.07M | $10.64M | -$1.41M |
| EBITDA Margin | 24.6% | 19.4% | 11.0% | 9.5% | 20.0% | 19.6% | 7.2% | 6.7% | 6.0% | 5.4% | -1.4% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Assets | |||||||||||
| Current Assets | |||||||||||
| Cash and Cash Equivalents | $190.52M | $304.19M | $291.36M | $469.52M | $231.94M | $190.3M | $59.92M | $34.89M | $87.71M | $29.48M | $61.36M |
| Short-Term Investments | $0 | $0 | $20.72M | $0 | $90M | $100M | $111.69M | $122.8M | $50M | $44.77M | $0 |
| Cash and Short-Term Investments | $190.52M | $304.19M | $312.09M | $469.52M | $321.94M | $290.3M | $171.61M | $157.69M | $137.71M | $74.25M | $61.36M |
| Accounts Receivable | $41.94M | $44.25M | $39.96M | $46.82M | $189.32M | $18.23M | $22.12M | $13.61M | $12.58M | $6.65M | $5.73M |
| Inventory | $0 | $338K | $331K | $5.28M | $19.66M | $0 | $0 | $16.15M | $0 | $0 | $0 |
| Other Current Assets | $15.23M | $42.43M | $38.81M | $13.78M | $15.75M | $11.06M | $9.79M | $13.41M | $1.6M | $0 | $1.12M |
| Total Current Assets | $282.95M | $391.21M | $391.19M | $557.37M | $563.11M | $331.98M | $218.95M | $194.86M | $157.2M | $85.51M | $69.14M |
| Long-Term Assets | |||||||||||
| Property, Plant & Equipment Net | $248.43M | $251.49M | $253.05M | $97M | $92.82M | $88.32M | $87.94M | $24.27M | $16.56M | $12.78M | $7.15M |
| Goodwill | $28.4M | $46.17M | $157.9M | $157.47M | $158.29M | $29.13M | $15.21M | $0 | $0 | $0 | $0 |
| Intangible Assets | $3.25M | $11.77M | $23.06M | $53.05M | $83.92M | $10.86M | $3.92M | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.92M | $1.84M | $2.04M | $1M |
| Deferred Tax Assets | $81.2M | $106.67M | $73.36M | $35.49M | $13.38M | $19.77M | $42.71M | $38.89M | $825K | $0 | $490K |
| Other Long-Term Assets | $17.66M | $17.23M | $20.37M | $26.73M | $20.07M | $22.24M | $24.89M | $10.28M | $2M | $0 | $1M |
| Total Long-Term Assets | $378.95M | $433.33M | $527.74M | $369.74M | $368.47M | $170.32M | $174.67M | $73.43M | $19.39M | $14.82M | $8.64M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $661.9M | $824.54M | $918.93M | $927.1M | $931.57M | $502.3M | $393.62M | $268.29M | $176.59M | $100.33M | $77.78M |
| Liabilities | |||||||||||
| Current Liabilities | |||||||||||
| Accounts Payable | $29.11M | $26.41M | $47.85M | $32.53M | $66.15M | $21.56M | $36.73M | $34.34M | $23.91M | $16.43M | $10.48M |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $35.26M | $0 | $0 | $16K | $8.7M | $233K | $0 | $10.14M | $1.53M | $0 | $0 |
| Current Unearned Revenue | $23.56M | $21.66M | $21.32M | $12.25M | $12.78M | $9.14M | $9.98M | $8.81M | $4.3M | $3.33M | $1.47M |
| Other Current Liabilities | $13.75M | $17.38M | $15.25M | $11.01M | $39.85M | $10.85M | $8.64M | $12.08M | $6.95M | $3.33M | $1.09M |
| Total Current Liabilities | $100.54M | $93.05M | $115.18M | $98.73M | $170.71M | $66.54M | $73.76M | $63.5M | $42.97M | $29.05M | $16.39M |
| Long-Term Liabilities | |||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $442K | $26K | $58K | $54K | $58K | $291K | $284K | $7.93M | $0 | $292K | $0 |
| Other Long-Term Liabilities | $5.35M | $6.03M | $4.73M | $5.3M | $23.64M | $3.08M | $1.91M | $10.68M | $6.6M | $6.26M | $4.14M |
| Total Long-Term Liabilities | $187.16M | $189.8M | $186.9M | $57.01M | $81.22M | $62.18M | $63.01M | $10.68M | $6.6M | $6.55M | $4.14M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $287.7M | $282.85M | $302.07M | $155.74M | $251.93M | $128.71M | $136.77M | $74.18M | $49.57M | $35.6M | $20.53M |
| Stockholders' Equity | |||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $132.7M | $73.38M |
| Common Stock | $95K | $104K | $108K | $118K | $118K | $113K | $112K | $111K | $106K | $42K | $45K |
| Retained Earnings | $362.38M | $375.12M | $354.15M | $323.04M | $129.26M | $129.41M | $51.86M | $9.71M | -$58.5M | -$71.7M | -$18.61M |
| Comprehensive Income & Other | $1.43M | -$2.55M | -$901K | -$1.64M | -$403K | $1.88M | -$350K | $71K | $228K | -$30K | $0 |
| Other Stockholders' Equity | $11.72M | $166.47M | $262.6M | $411.45M | $387.46M | $244.06M | $204.88M | $184.29M | $185.42M | $136.38M | $75.81M |
| Total Equity | $374.2M | $541.69M | $616.85M | $734.61M | $516.84M | $373.59M | $256.86M | $194.11M | $127.03M | $64.73M | $57.25M |
| Minority Interest | $0 | $0 | $0 | $36.75M | $162.81M | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $661.9M | $824.54M | $918.93M | $890.35M | $768.77M | $502.3M | $393.62M | $268.29M | $176.59M | $100.33M | $77.78M |
| Supplementary Data | |||||||||||
| Total Debt | $190.83M | $192.74M | $194.39M | $66.42M | $70.7M | $69.89M | $69.6M | $0 | $0 | $0 | $0 |
| Net Debt | $315K | -$111.45M | -$96.97M | -$403.1M | -$161.24M | -$120.4M | $9.68M | -$34.89M | -$87.71M | -$29.48M | -$61.36M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Operating Activities | |||||||||||
| Net Income | $155.9M | $20.97M | $22.05M | $78.95M | $110.37M | $77.55M | $42.15M | $65.17M | $13.2M | $6.5M | -$1.64M |
| Depreciation & Amortization | $28.35M | $25.36M | $48.47M | $45.33M | $40.48M | $10.19M | $7.82M | $5.03M | $3.79M | $2.07M | $1.12M |
| Deferred Income Tax | $25.89M | -$33.35M | -$37.86M | -$22.11M | $6.16M | $22.23M | -$3.73M | -$39.04M | -$1.12M | $782K | -$649K |
| Stock-Based Compensation | $50.44M | $62.27M | $63.74M | $54.78M | $53.52M | $45.09M | $34.3M | $20.79M | $5.03M | $322K | $1.04M |
| Changes in Working Capital: | |||||||||||
| Accounts Receivable | $675K | -$4.87M | $10.97M | $152.95M | -$174.77M | $3.89M | -$9.61M | -$1.91M | -$7.04M | -$1.43M | -$716K |
| Inventory | $338K | -$112K | $1.96M | $14.37M | -$17.32M | $0 | $0 | -$9.06M | $2.9M | $1.89M | $1.65M |
| Accounts Payable | $3.56M | -$4.66M | $2.08M | -$35.05M | $35.4M | -$15.08M | $4.27M | $9.35M | $6.24M | $5.81M | $6.1M |
| Other Working Capital | -$21.25M | $28.75M | $875K | -$46.42M | $27.74M | -$1.85M | -$13.89M | -$3.79M | $1.43M | $4.37M | $5.74M |
| Total Working Capital Change | -$16.68M | $19.11M | $15.89M | $85.86M | -$128.96M | -$13.04M | -$19.23M | -$5.41M | $3.54M | $10.64M | $12.78M |
| Other Non-Cash Items | $51.38M | $161.13M | $12.24M | $13.29M | $16.71M | $14.71M | $8.82M | $5.18M | $1.25M | -$313K | $258K |
| Net Cash from Operating | $295.28M | $255.49M | $124.53M | $256.11M | $98.29M | $156.74M | $70.12M | $51.72M | $25.69M | $20M | $12.91M |
| Investing Activities | |||||||||||
| Capital Expenditures | -$6.38M | -$75.17M | -$24.56M | -$5.92M | -$7.71M | -$2.95M | -$11.21M | -$7.48M | -$7.37M | -$7.22M | -$7.62M |
| Acquisitions | $0 | $0 | $0 | $0 | -$64.27M | -$21.06M | -$19.14M | $1.52M | $2.21M | $1.37M | $0 |
| Purchases of Investments | $0 | -$494K | -$98.02M | $0 | -$120M | -$100M | -$177.81M | -$212.8M | -$50M | -$59.77M | $0 |
| Sales of Investments | $0 | $21.22M | $77.46M | $90M | $130M | $111.69M | $188.92M | $140M | $44.77M | $15M | $0 |
| Other Investing Activities | -$22.93M | -$18.52M | -$16.45M | -$11.35M | -$6.16M | -$4.58M | -$3.02M | -$1.52M | -$2.21M | -$1.37M | -$1.26M |
| Net Cash from Investing | -$29.32M | -$72.97M | -$61.56M | $72.73M | -$68.15M | -$16.89M | -$22.26M | -$80.28M | -$12.6M | -$51.99M | -$7.62M |
| Financing Activities | |||||||||||
| Debt Repaid | $81K | $75K | $70K | $68K | $39K | $37K | $30K | - | - | - | - |
| Common Stock Issuance | $474K | $4.92M | $0 | $0 | $663K | $0 | $0 | $2.49M | $47.69M | -$131K | $49.94M |
| Common Stock Repurchases | -$351.93M | -$146.18M | -$208.52M | -$14.43M | $0 | $0 | $0 | -$25.89M | $0 | -$60M | -$18M |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$32.23M | -$27.3M | -$45.05M | -$78.12M | $31.43M | -$10.05M | -$14.66M | -$23.39M | -$2.91M | $690K | $93K |
| Net Cash from Financing | -$383.76M | -$168.63M | -$253.64M | -$92.62M | $17.81M | -$10.09M | -$14.69M | -$23.39M | $44.78M | $690K | $49.97M |
| Forex Effect | $2.09M | -$1.6M | $475K | -$364K | -$597K | $440K | -$1K | -$44K | $159K | -$45K | $0 |
| Net Change in Cash | -$115.71M | $12.3M | -$190.21M | $235.85M | $47.35M | $130.2M | $33.16M | -$51.99M | $58.03M | -$31.34M | $55.27M |
| Supplementary Data | |||||||||||
| Operating Cash Flow | $295.28M | $255.49M | $124.53M | $256.11M | $98.29M | $156.74M | $70.12M | $51.72M | $25.69M | $20M | $12.91M |
| Capital Expenditure | -$6.38M | -$75.17M | -$41.21M | -$17.27M | -$13.88M | -$7.53M | -$14.23M | -$7.48M | -$7.37M | -$7.22M | -$7.62M |
| Free Cash Flow | $288.9M | $180.32M | $83.32M | $238.84M | $84.42M | $149.21M | $55.89M | $44.24M | $18.32M | $12.79M | $5.3M |
| Cash at Beginning | $306.23M | $293.93M | $484.13M | $248.28M | $200.93M | $70.72M | $37.56M | $89.55M | $31.52M | $62.86M | $7.6M |
| Cash at End | $190.52M | $306.23M | $293.93M | $484.13M | $248.28M | $200.93M | $70.72M | $37.56M | $89.55M | $31.52M | $62.86M |