CARG · Cargurus, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $906.98M | $894.38M | $914.24M | $1.66B | $951.37M | $551.45M |
| Cost of Revenue | $65.47M | $155.44M | $262.79M | $997.48M | $294.01M | $42.71M |
| Gross Profit | $841.51M | $738.95M | $651.45M | $657.55M | $657.36M | $508.75M |
| R&D | $138.28M | $144.43M | $146.17M | $123.77M | $106.42M | $85.73M |
| SG&A | $101.42M | $112.07M | $152.76M | $73.12M | $97.68M | $62.17M |
| Total Operating Expenses | $597.07M | $725.53M | $618.83M | $549.08M | $509.09M | $410.99M |
| D&A | $28.35M | $25.36M | $48.47M | $45.33M | $40.48M | $11.34M |
| Operating Income | $244.44M | $13.41M | $32.63M | $108.48M | $148.27M | $97.76M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $56.09M | $3.69M | $29.63M | $32.41M | $38.99M | $21.56M |
| Net Income | $155.90M | $20.97M | $36.94M | $84.39M | $109.24M | $77.55M |
| EPS - Basic | $1.58 | $0.20 | $0.27 | $1.64 | $0.00 | $0.69 |
| EPS - Diluted | $1.55 | $0.20 | $0.19 | $0.62 | $0.00 | $0.68 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $190.52M | $304.19M | $291.36M | $469.52M | $231.94M | $190.30M |
| Accounts Receivable | $41.94M | $44.25M | $39.96M | $46.82M | $189.32M | $18.23M |
| Inventory | - | $338.0K | $331.0K | $5.28M | $19.66M | - |
| Accounts Payable | $29.11M | $26.41M | $47.85M | $32.53M | $66.15M | $21.56M |
| Current Assets | $282.95M | $391.21M | $391.19M | $557.37M | $563.11M | $331.98M |
| Total Assets | $661.90M | $824.54M | $918.93M | $927.10M | $931.57M | $502.30M |
| Current Liabilities | $100.54M | $93.05M | $115.18M | $98.73M | $170.71M | $66.54M |
| Long-term Debt | $0 | $0 | $0 | $0 | - | - |
| Total Liabilities | $287.70M | $282.85M | $302.07M | $155.74M | $251.93M | $128.71M |
| Stockholders' Equity | $374.20M | $541.69M | $616.85M | $734.61M | $516.84M | $373.59M |
| Retained Earnings | $362.38M | $375.12M | $354.15M | $323.04M | $129.26M | $129.41M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $295.28M | $255.49M | $124.53M | $256.11M | $98.29M | $156.74M |
| Investing Cash Flow | ($29.32M) | ($72.97M) | ($61.56M) | $72.73M | ($68.15M) | ($16.89M) |
| Financing Cash Flow | ($383.76M) | ($168.63M) | ($253.64M) | ($92.62M) | $17.81M | ($10.09M) |
| CapEx | $6.38M | $75.17M | $24.56M | $5.92M | $7.71M | $2.95M |
| Free Cash Flow | $288.90M | $180.32M | $99.96M | $250.18M | $90.58M | $153.79M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 92.8% | 82.6% | 71.3% | 39.7% | 69.1% | 92.3% |
| Operating margin | 27.0% | 1.5% | 3.6% | 6.6% | 15.6% | 17.7% |
| EBITDA margin | 30.1% | 4.3% | 8.9% | 9.3% | 19.8% | 19.8% |
| Net margin | 17.2% | 2.3% | 4.0% | 5.1% | 11.5% | 14.1% |
| Free cash flow margin | 31.9% | 20.2% | 10.9% | 15.1% | 9.5% | 27.9% |
| FCF / Net income | 1.85 | 8.60 | 2.71 | 2.96 | 0.83 | 1.98 |
| R&D / Revenue | 15.2% | 16.1% | 16.0% | 7.5% | 11.2% | 15.5% |
| SG&A / Revenue | 11.2% | 12.5% | 16.7% | 4.4% | 10.3% | 11.3% |
| Effective tax rate | 26.5% | 14.9% | 44.5% | 27.7% | 26.3% | 21.8% |
| Return on assets | 23.6% | 2.5% | 4.0% | 9.1% | 11.7% | 15.4% |
| Return on equity | 41.7% | 3.9% | 6.0% | 11.5% | 21.1% | 20.8% |
| Return on invested capital | 48.0% | 2.1% | 2.9% | 10.7% | - | - |
| Liquidity | ||||||
| Current ratio | 2.81 | 4.20 | 3.40 | 5.65 | 3.30 | 4.99 |
| Quick ratio | 2.81 | 4.20 | 3.39 | 5.59 | 3.18 | 4.99 |
| Cash ratio | 1.89 | 3.27 | 2.53 | 4.76 | 1.36 | 2.86 |
| Leverage | ||||||
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | - | - |
| Debt / Assets | 0.00 | 0.00 | 0.00 | 0.00 | - | - |
| Debt / EBITDA | 0.00 | 0.00 | 0.00 | 0.00 | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.77 | 1.52 | 1.49 | 1.26 | 1.80 | 1.34 |
| Liabilities / Assets | 0.43 | 0.34 | 0.33 | 0.17 | 0.27 | 0.26 |
| Efficiency | ||||||
| Asset turnover | 1.37 | 1.08 | 0.99 | 1.79 | 1.02 | 1.10 |
| Inventory turnover | - | 459.88 | 793.92 | 188.85 | 14.96 | - |
| Days sales outstanding | 17d | 18d | 16d | 10d | 73d | 12d |
| Days inventory outstanding | - | 1d | 0d | 2d | 24d | - |
| Days payable outstanding | 162d | 62d | 66d | 12d | 82d | 184d |
| Cash conversion cycle | - | -43d | -50d | 0d | 15d | - |
| Valuation | ||||||
| P / E | 24.7x | 182.7x | 127.2x | 22.6x | - | 46.7x |
| P / B | 10.3x | 7.2x | 4.5x | 2.4x | 7.6x | 9.7x |
| P / S | 4.2x | 4.3x | 3.0x | 1.1x | 4.1x | 6.6x |
| EV / EBITDA | 13.4x | 92.3x | 30.4x | 8.6x | 19.6x | 31.4x |
| Growth | ||||||
| Revenue growth (YoY) | 1.4% | -2.2% | -44.8% | 74.0% | 72.5% | -6.4% |
| Revenue CAGR (3y) | -18.2% | -2.0% | 18.4% | 41.1% | 68.7% | 40.7% |
| Revenue CAGR (5y) | 10.5% | 8.7% | 35.8% | 52.9% | - | - |
| Gross profit growth (YoY) | 13.9% | 13.4% | -0.9% | 0.0% | 29.2% | -7.9% |
| Operating income growth (YoY) | 1722.6% | -58.9% | -69.9% | -26.8% | 51.7% | 184.8% |
| Net income growth (YoY) | 643.4% | -43.2% | -56.2% | -22.8% | 40.9% | 84.0% |
| EPS growth (YoY) | 675.0% | 5.3% | -69.4% | - | - | 83.8% |
| EPS CAGR (3y) | 35.7% | - | -34.6% | 18.8% | - | - |
| EPS CAGR (5y) | 17.9% | -11.6% | -19.7% | - | - | - |
| FCF growth (YoY) | 60.2% | 80.4% | -60.0% | 176.2% | -41.1% | 161.1% |
| FCF CAGR (5y) | 13.4% | 25.1% | 48.1% | 77.6% | - | - |
| Book value growth (YoY) | -30.9% | -12.2% | -16.0% | 42.1% | 38.3% | 45.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Geographic
$906.98M totalUS$827.30M · 91.2%
Non Us$79.68M · 8.8%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
3.72
Safe
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
7/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Computer Processing & Data Preparation
Comparing CarGurus against the 5 most active filers in the same SIC group.