CarGurus, Inc. CARG
CarGurus is a multinational automotive platform helping consumers and dealers confidently buy and sell vehicles. Founded in 2006 with a mission to bring more trust and transparency to car shopping, CarGurus is the No. 1 visited automotive shopping site in the U.S.1 with the largest selection of inventory and network of dealers2. CarGurus' selection, trusted automotive insights, and data-driven products and solutions support each shopper's journey — from online research and shopping to in-dealership decisions — to empower them at every step. CarGurus provides dealers a personalized, predictive intelligence platform with software solutions that helps them run their businesses more efficiently and profitably at all stages of inventory acquisition and pricing, marketing, and conversion to sale.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $907.0M | $798.0M | $698.4M | $1.66B | $951.4M | $551.5M | $588.9M | $454.1M | $316.9M | $198.1M |
| Cost of revenue | $65.5M | $70.3M | $61.8M | $997.5M | $294.0M | $42.7M | $36.3M | $24.8M | — | — |
| Gross profit | $841.5M | $727.7M | $636.6M | $657.6M | $657.4M | $508.7M | $552.6M | $429.3M | $299.3M | $188.6M |
| R&D | $138.3M | $139.0M | $136.8M | $123.8M | $106.4M | $85.7M | $69.5M | $47.9M | $22.5M | $11.5M |
| SG&A | $101.4M | $103.2M | $95.0M | $73.1M | $97.7M | $62.2M | $50.4M | $39.5M | $22.7M | $12.8M |
| Total operating expenses | $597.1M | $570.5M | $516.3M | $549.1M | $509.1M | $411.0M | $518.3M | $406.1M | $284.0M | $180.0M |
| Operating income | $244.4M | $157.1M | $120.3M | $108.5M | $148.3M | $97.8M | $34.3M | $23.2M | $15.3M | $8.6M |
| Interest expense | — | — | — | — | — | — | — | — | $29.0K | $26.0K |
| Pre-tax income | $252.8M | $168.4M | $139.1M | $111.4M | $149.4M | $99.1M | $38.7M | $25.5M | $15.8M | $8.9M |
| Income tax | $56.1M | $39.6M | $46.7M | $32.4M | $39.0M | $21.6M | $3.4M | $39.7M | $2.6M | $2.4M |
| Net income | $155.9M | $21.0M | $22.1M | $79.0M | $110.4M | $77.6M | $42.1M | $65.2M | $13.2M | $6.5M |
| EPS, basic | 1.58 | 0.20 | 0.27 | 1.64 | 0.00 | 0.69 | 0.38 | 0.60 | 0.13 | -0.58 |
| EPS, diluted | 1.55 | 0.20 | 0.19 | 0.62 | 0.00 | 0.68 | 0.37 | 0.57 | 0.12 | -0.58 |
| Shares, diluted (wtd. avg.) | $100.4M | $106.3M | $114.2M | $128.2M | $117.1M | $113.8M | $113.4M | $113.4M | $60.6M | $44.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $190.5M | $304.2M | $291.4M | $469.5M | $231.9M | $190.3M | $59.9M | $34.9M | $87.7M | $29.5M |
| Short-term investments | — | $0 | $20.7M | — | — | — | — | — | $50.0M | $44.8M |
| Receivables | $41.9M | $38.3M | $40.0M | $46.8M | $189.3M | $18.2M | $22.1M | $13.6M | $12.6M | $6.7M |
| Inventory | — | $338.0K | $331.0K | $5.3M | $19.7M | — | — | — | — | — |
| Total current assets | $282.9M | $391.2M | $391.2M | $557.4M | $563.1M | $332.0M | $219.0M | $194.9M | $157.2M | $85.5M |
| Property, plant and equipment | $133.0M | $124.4M | $83.4M | $40.1M | $32.2M | $27.5M | $27.9M | $24.3M | $16.6M | $12.8M |
| Goodwill | $28.4M | $26.6M | $157.9M | $157.5M | $158.3M | $29.1M | $15.2M | — | — | — |
| Other intangibles | $3.3M | $4.0M | $23.1M | $53.1M | $83.9M | $10.9M | $3.9M | — | — | — |
| Total assets | $661.9M | $824.5M | $918.9M | $927.1M | $931.6M | $502.3M | $393.6M | $268.3M | $176.6M | $100.3M |
| Accounts payable | $29.1M | $21.8M | $47.9M | $32.5M | $66.2M | $21.6M | $36.7M | $34.3M | $23.9M | $16.4M |
| Total current liabilities | $100.5M | $93.1M | $115.2M | $98.7M | $170.7M | $66.5M | $73.8M | $63.5M | $43.0M | $29.1M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | — | — | — | — | — |
| Total liabilities | $287.7M | $282.8M | $302.1M | $155.7M | $251.9M | $128.7M | $136.8M | $74.2M | $49.6M | $35.6M |
| Retained earnings | $362.4M | $375.1M | $354.1M | $323.0M | $129.3M | $129.4M | $51.9M | $9.7M | -$58.5M | -$71.7M |
| Total equity | $374.2M | $541.7M | $616.9M | $734.6M | $516.8M | $373.6M | $256.9M | $194.1M | $127.0M | -$68.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $295.3M | $255.5M | $124.5M | $256.1M | $98.3M | $156.7M | $70.1M | $51.7M | $25.7M | $20.0M |
| Depreciation and amortisation | $28.3M | $25.4M | $48.5M | $45.3M | $40.5M | $10.2M | $7.8M | $5.0M | $3.8M | $2.1M |
| Stock-based compensation | $50.4M | $62.3M | $63.7M | $54.8M | $53.5M | $45.1M | $34.3M | $20.8M | $5.0M | $322.0K |
| Capital expenditure | $6.4M | $75.2M | $24.6M | $5.9M | $7.7M | $3.0M | $11.2M | $6.0M | $5.2M | $5.8M |
| Investing cash flow | -$29.3M | -$73.0M | -$61.6M | $72.7M | -$68.1M | -$16.9M | -$22.3M | -$80.3M | -$12.6M | -$52.0M |
| Financing cash flow | -$383.8M | -$168.6M | -$253.6M | -$92.6M | $17.8M | -$10.1M | -$14.7M | -$23.4M | $44.8M | $690.0K |
| Buybacks | $351.9M | $146.2M | $208.5M | $14.4M | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-170400.
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