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CarGurus, Inc.

CARG Clue Score74
United States Fiscal year ends December CIK 0001494259
$28.85 -1.33% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $28.85 −14.67% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2017. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue198.1Operating income8.6Net income6.5EPS, diluted−0.58Fiscal year 2017Revenue316.9 +59.9%Operating income15.3Net income13.2 +103.2%EPS, diluted0.12Fiscal year 2018Revenue454.1 +43.3%Operating income23.2Net income65.2 +393.7%EPS, diluted0.57Fiscal year 2019Revenue588.9 +29.7%Operating income34.3Net income42.1 −35.3%EPS, diluted0.37Fiscal year 2020Revenue551.5 −6.4%Operating income97.8Net income77.6 +84.0%EPS, diluted0.68Fiscal year 2021Revenue951.4 +72.5%Operating income148.3Net income109.2 +40.9%EPS, diluted0.00Fiscal year 2022Revenue1,655.0 +74.0%Operating income108.5Net income84.4 −22.8%EPS, diluted0.62Fiscal year 2023Revenue698.4 −57.8%Operating income120.3Net income36.9 −56.2%EPS, diluted0.19Fiscal year 2024Revenue798.0 +14.3%Operating income157.1Net income21.0 −43.2%EPS, diluted0.20Fiscal year 2025Revenue907.0 +13.7%Operating income244.4Net income155.9 +643.4%EPS, diluted1.55
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 198.1 316.9 454.1 588.9 551.5 951.4 1,655.0 698.4 798.0 907.0
Growth +59.9% +43.3% +29.7% −6.4% +72.5% +74.0% −57.8% +14.3% +13.7%
Operating income 8.6 15.3 23.2 34.3 97.8 148.3 108.5 120.3 157.1 244.4
Net income 6.5 13.2 65.2 42.1 77.6 109.2 84.4 36.9 21.0 155.9
Growth +103.2% +393.7% −35.3% +84.0% +40.9% −22.8% −56.2% −43.2% +643.4%
EPS, diluted −0.58 0.12 0.57 0.37 0.68 0.00 0.62 0.19 0.20 1.55

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin95.2%Operating margin4.3%Net margin3.3%Free cash flow margin7.1%Fiscal year 2017Gross margin94.4%Operating margin4.8%Net margin4.2%Free cash flow margin6.5%Fiscal year 2018Gross margin94.5%Operating margin5.1%Net margin14.4%Free cash flow margin10.1%Fiscal year 2019Gross margin93.8%Operating margin5.8%Net margin7.2%Free cash flow margin10.0%Fiscal year 2020Gross margin92.3%Operating margin17.7%Net margin14.1%Free cash flow margin27.9%Fiscal year 2021Gross margin69.1%Operating margin15.6%Net margin11.5%Free cash flow margin9.5%Fiscal year 2022Gross margin39.7%Operating margin6.6%Net margin5.1%Free cash flow margin15.1%Fiscal year 2023Gross margin91.2%Operating margin17.2%Net margin5.3%Free cash flow margin14.3%Fiscal year 2024Gross margin91.2%Operating margin19.7%Net margin2.6%Free cash flow margin22.6%Fiscal year 2025Gross margin92.8%Operating margin27.0%Net margin17.2%Free cash flow margin31.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 95.2% 94.4% 94.5% 93.8% 92.3% 69.1% 39.7% 91.2% 91.2% 92.8%
Operating margin 4.3% 4.8% 5.1% 5.8% 17.7% 15.6% 6.6% 17.2% 19.7% 27.0%
Net margin 3.3% 4.2% 14.4% 7.2% 14.1% 11.5% 5.1% 5.3% 2.6% 17.2%
Free cash flow margin 7.1% 6.5% 10.1% 10.0% 27.9% 9.5% 15.1% 14.3% 22.6% 31.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow20.0Capital expenditure−5.8Free cash flow14.2Fiscal year 2017Operating cash flow25.7Capital expenditure−5.2Free cash flow20.5 +45.0%Fiscal year 2018Operating cash flow51.7Capital expenditure−6.0Free cash flow45.8 +122.9%Fiscal year 2019Operating cash flow70.1Capital expenditure−11.2Free cash flow58.9 +28.7%Fiscal year 2020Operating cash flow156.7Capital expenditure−3.0Free cash flow153.8 +161.1%Fiscal year 2021Operating cash flow98.3Capital expenditure−7.7Free cash flow90.6 −41.1%Fiscal year 2022Operating cash flow256.1Capital expenditure−5.9Free cash flow250.2 +176.2%Buybacks−14.4Fiscal year 2023Operating cash flow124.5Capital expenditure−24.6Free cash flow100.0 −60.0%Buybacks−208.5Fiscal year 2024Operating cash flow255.5Capital expenditure−75.2Free cash flow180.3 +80.4%Buybacks−146.2Fiscal year 2025Operating cash flow295.3Capital expenditure−6.4Free cash flow288.9 +60.2%Buybacks−351.9
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 20.0 25.7 51.7 70.1 156.7 98.3 256.1 124.5 255.5 295.3
Capital expenditure −5.8 −5.2 −6.0 −11.2 −3.0 −7.7 −5.9 −24.6 −75.2 −6.4
Free cash flow 14.2 20.5 45.8 58.9 153.8 90.6 250.2 100.0 180.3 288.9
Growth +45.0% +122.9% +28.7% +161.1% −41.1% +176.2% −60.0% +80.4% +60.2%
Buybacks n/a n/a n/a n/a n/a n/a −14.4 −208.5 −146.2 −351.9

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash29.5Shareholders’ equity−68.0Fiscal year 2017Cash87.7Shareholders’ equity127.0Fiscal year 2018Cash34.9Shareholders’ equity194.1Fiscal year 2019Cash59.9Shareholders’ equity256.9Fiscal year 2020Cash190.3Shareholders’ equity373.6Fiscal year 2021Cash231.9Total debt0.0Net cash (debt)231.9Shareholders’ equity516.8Debt to equity0.00Fiscal year 2022Cash469.5Total debt0.0Net cash (debt)469.5Shareholders’ equity734.6Debt to equity0.00Fiscal year 2023Cash291.4Total debt0.0Net cash (debt)291.4Shareholders’ equity616.9Debt to equity0.00Fiscal year 2024Cash304.2Total debt0.0Net cash (debt)304.2Shareholders’ equity541.7Debt to equity0.00Fiscal year 2025Cash190.5Total debt0.0Net cash (debt)190.5Shareholders’ equity374.2Debt to equity0.00
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 29.5 87.7 34.9 59.9 190.3 231.9 469.5 291.4 304.2 190.5
Total debt n/a n/a n/a n/a n/a 0.0 0.0 0.0 0.0 0.0
Net cash (debt) n/a n/a n/a n/a n/a 231.9 469.5 291.4 304.2 190.5
Shareholders’ equity −68.0 127.0 194.1 256.9 373.6 516.8 734.6 616.9 541.7 374.2
Debt to equity n/a n/a n/a n/a n/a 0.00 0.00 0.00 0.00 0.00

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
95.2% 94.4% 94.5% 93.8% 92.3% 69.1% 39.7% 91.2% 91.2% 92.8%
4.3% 4.8% 5.1% 5.8% 17.7% 15.6% 6.6% 17.2% 19.7% 27.0%
4.5% 5.0% 5.6% 6.6% 18.0% 15.7% 6.7% 19.9% 21.1% 27.9%
3.3% 4.2% 14.4% 7.2% 14.1% 11.5% 5.1% 5.3% 2.6% 17.2%
7.1% 6.5% 10.1% 10.0% 27.9% 9.5% 15.1% 14.3% 22.6% 31.9%
Spending
5.8% 7.1% 10.5% 11.8% 15.5% 11.2% 7.5% 19.6% 17.4% 15.2%
6.5% 7.2% 8.7% 8.6% 11.3% 10.3% 4.4% 13.6% 12.9% 11.2%
3.0% 1.6% 1.3% 1.9% 0.5% 0.8% 0.4% 3.5% 9.4% 0.7%
27.4% 16.7% −155.7% −8.9% 21.8% 26.1% 29.1% 33.6% 23.5% 22.2%
Returns
n/a 10.4% 33.6% 16.4% 20.8% 21.1% 11.5% 6.0% 3.9% 41.7%
6.5% 7.5% 24.3% 10.7% 15.4% 11.7% 9.1% 4.0% 2.5% 23.6%
Balance and payout
n/a n/a n/a n/a n/a 0.00 0.00 0.00 0.00 0.00
35.5% 28.1% 27.6% 34.7% 25.6% 27.0% 16.8% 32.9% 34.3% 43.5%
n/a n/a n/a n/a n/a n/a 5.8% 208.6% 81.1% 121.8%