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CarGurus (CARG) Financials

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$35.84 +0.08 (+0.21%)
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Annual Income Statements for CarGurus

Annual Income Statements for CarGurus

This table shows CarGurus' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -18 -26 7.10 65 42 78 -0.15 194 31 21 156
Consolidated Net Income / (Loss)		 -1.64 6.50 13 65 42 78 110 79 22 21 156
Net Income / (Loss) Continuing Operations		 -1.64 6.50 13 65 42 78 110 79 92 129 197
Total Pre-Tax Income 		-2.54 8.95 16 25 39 99 149 111 139 168 253
Total Operating Income		 -2.53 8.57 15 23 34 98 148 108 120 157 244
Total Gross Profit		 94 189 299 429 553 509 657 658 637 728 842
Total Revenue		 99 198 317 454 589 551 951 1,655 698 798 907
Operating Revenue		 99 198 317 454 589 551 951 1,655 698 798 907
Total Cost of Revenue		 4.23 9.58 18 25 36 43 294 997 62 70 65
Operating Cost of Revenue		 4.23 9.58 18 25 36 43 294 997 62 70 65
Total Operating Expenses		 97 180 284 406 518 411 509 549 516 571 597
Selling, General & Admin Expense		 5.80 13 23 39 50 62 98 73 95 103 101
Marketing Expense		 82 154 236 316 394 257 291 337 278 307 341
Research & Development Expense		 8.24 11 22 48 69 86 106 124 137 139 138
Depreciation Expense		 0.97 1.63 2.66 2.80 4.55 6.12 14 15 6.74 9.12 16
Impairment Charge		 - - - - - - - 0.00 0.00 12 0.50
Total Other Income / (Expense), net		 -0.01 0.37 0.56 2.29 4.38 1.35 1.09 2.88 19 11 8.39
Interest & Investment Income		 - 0.42 0.87 2.28 2.98 1.08 0.12 3.85 18 12 9.15
Other Income / (Expense), net		 -0.01 -0.04 -0.31 0.01 1.40 0.28 0.97 -0.96 0.36 -0.96 -0.76
Income Tax Expense		 -0.90 2.45 2.64 -40 -3.44 22 39 32 47 40 56
Net Income / (Loss) Discontinued Operations		 - - - - - - - - -70 -108 -41
Preferred Stock Dividends Declared		 16 32 - - 0.00 0.00 109 -109 5.84 0.00 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 0.00 6.10 - 0.00 0.00 1.13 -5.43 -15 0.00 0.00
Basic Earnings per Share		 ($0.41) ($0.58) $0.13 $0.60 $0.38 $0.69 $0.00 $1.64 $0.27 $0.20 $1.58
Weighted Average Basic Shares Outstanding		 - 44.14M 54.60M 108.83M 111.45M 112.85M 117.14M 118.47M 113.24M 104.54M 98.84M
Diluted Earnings per Share		 ($0.41) ($0.58) $0.12 $0.57 $0.37 $0.68 $0.00 $0.62 $0.19 $0.20 $1.55
Weighted Average Diluted Shares Outstanding		 - 44.14M 54.60M 113.36M 113.43M 113.85M 117.14M 128.15M 114.19M 106.26M 100.41M
Weighted Average Basic & Diluted Shares Outstanding		 - 44.14M 54.60M 931M 112.30M 116.80M 118.07M 114.87M 107.44M 104.42M 95.19M

Quarterly Income Statements for CarGurus

This table shows CarGurus' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -24 21 -69 23 46 39 22 45 50 32 49
Consolidated Net Income / (Loss)		 -23 21 -69 23 46 39 22 45 50 32 49
Net Income / (Loss) Continuing Operations		 -23 21 -69 23 46 42 49 45 91 32 49
Total Pre-Tax Income 		-16 30 -90 30 55 53 63 57 120 41 63
Total Operating Income		 -22 26 -94 27 53 51 61 55 119 40 63
Total Gross Profit		 168 175 182 183 199 198 206 214 224 225 231
Total Revenue		 223 216 219 231 229 212 222 239 209 244 251
Operating Revenue		 223 216 219 231 229 212 222 239 209 244 251
Total Cost of Revenue		 55 41 36 49 30 14 16 25 -15 19 20
Operating Cost of Revenue		 55 41 36 49 30 14 16 25 -15 19 20
Total Operating Expenses		 190 149 276 155 146 147 146 159 105 185 168
Selling, General & Admin Expense		 76 28 27 28 28 25 25 28 19 26 28
Marketing Expense		 74 82 82 81 76 84 83 89 80 97 98
Research & Development Expense		 37 36 37 36 36 35 34 36 31 38 38
Depreciation Expense		 4.07 2.79 2.23 2.33 4.93 3.76 3.70 4.71 2.94 3.71 3.69
Impairment Charge		 - - 127 7.03 - 0.00 0.50 0.00 - 19 0.45
Total Other Income / (Expense), net		 5.88 3.40 3.16 2.62 2.06 2.80 2.56 1.89 1.14 1.07 0.51
Interest & Investment Income		 5.09 3.91 2.44 2.72 3.13 3.10 2.13 2.29 1.63 1.67 0.96
Other Income / (Expense), net		 0.78 -0.51 0.72 -0.09 -1.07 -0.30 0.43 -0.40 -0.49 -0.61 -0.45
Income Tax Expense		 6.21 8.38 -22 7.55 9.46 11 14 12 30 8.92 14
Net Income / (Loss) Discontinued Operations		 - - - - - -3.03 -27 - - 0.00 0.00
Basic Earnings per Share		 ($0.21) $0.20 ($0.66) $0.22 $0.44 $0.38 $0.23 $0.46 $0.51 $0.34 $0.55
Weighted Average Basic Shares Outstanding		 113.24M 107.17M 103.83M 103.32M 104.54M 103.09M 98.89M 98.17M 98.84M 94.06M 90.13M
Diluted Earnings per Share		 ($0.20) $0.20 ($0.66) $0.21 $0.45 $0.37 $0.22 $0.45 $0.51 $0.34 $0.54
Weighted Average Diluted Shares Outstanding		 114.19M 108.63M 103.83M 105.06M 106.26M 105.07M 100.18M 99.72M 100.41M 95.10M 91.08M
Weighted Average Basic & Diluted Shares Outstanding		 107.44M 104.19M 103.37M 103.71M 104.42M 98.85M 99.26M 95.45M 95.19M 90.19M 89.07M

Annual Cash Flow Statements for CarGurus

This table details how cash moves in and out of CarGurus' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 55 -31 58 -52 33 130 47 236 -190 12 -116
Net Cash From Operating Activities		 13 20 26 52 70 157 98 256 125 255 295
Net Cash From Continuing Operating Activities		 13 20 26 52 70 157 98 256 125 255 295
Net Income / (Loss) Continuing Operations		 -1.64 6.50 13 65 42 78 110 79 22 21 156
Consolidated Net Income / (Loss)		 -1.64 6.50 13 65 42 78 110 79 22 21 156
Depreciation Expense		 1.12 2.07 3.80 5.03 7.82 10 40 45 48 25 28
Amortization Expense		 4.65 1.93 0.23 7.98 8.42 12 13 11 12 14 17
Non-Cash Adjustments To Reconcile Net Income		 0.65 0.01 6.27 22 33 48 59 56 79 251 88
Changes in Operating Assets and Liabilities, net		 8.13 9.50 2.20 -49 -21 9.74 -124 64 -37 -56 5.62
Net Cash From Investing Activities		 -7.62 -52 -13 -80 -22 -17 -68 73 -62 -73 -29
Net Cash From Continuing Investing Activities		 -7.62 -52 -13 -80 -22 -17 -68 73 -62 -73 -29
Purchase of Property, Plant & Equipment		 -7.62 -7.22 -7.37 -7.48 -14 -7.53 -14 -17 -41 -94 -29
Acquisitions		 - - 0.00 0.00 -19 -21 -64 0.00 0.00 0.00 0.00
Purchase of Investments		 - - - - - - -120 0.00 -98 -0.49 0.00
Sale of Property, Plant & Equipment		 - - - - - - - 0.00 0.46 0.00 0.00
Sale and/or Maturity of Investments		 0.00 15 45 140 189 112 130 90 77 21 0.00
Other Investing Activities, net		 0.00 -60 -50 -213 -178 -100 0.00 0.00 -0.26 0.26 0.00
Net Cash From Financing Activities		 50 0.69 45 -23 -15 -10 18 -93 -254 -169 -384
Net Cash From Continuing Financing Activities		 50 0.69 45 -23 -15 -10 18 -93 -254 -169 -384
Repayment of Debt		 - - - - 0.00 0.00 -14 -2.58 0.00 0.00 0.00
Repurchase of Preferred Equity		 - - - - - - 0.00 0.00 0.00 0.00 0.00
Repurchase of Common Equity		 -18 -60 - - - 0.00 0.00 -14 -209 -148 -353
Payment of Dividends		 - - - - - 0.00 0.00 -20 -0.04 0.00 0.00
Other Financing Activities, net		 0.09 0.96 -2.91 -23 -15 -10 32 -56 -45 -21 -31
Effect of Exchange Rate Changes		 0.00 -0.05 0.16 -0.04 -0.00 0.44 -0.60 -0.36 0.48 -1.60 2.09
Cash Interest Paid		 0.02 0.03 - - - 0.00 0.00 0.06 0.57 0.77 0.59
Cash Income Taxes Paid		 0.32 2.05 4.39 2.31 0.30 2.83 28 61 75 41 20

Quarterly Cash Flow Statements for CarGurus

This table details how cash moves in and out of CarGurus' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -73 -45 -31 32 55 -131 58 -54 12 -118 50
Net Cash From Operating Activities		 2.50 52 72 56 76 68 73 71 83 70 95
Net Cash From Continuing Operating Activities		 2.68 52 72 56 76 68 73 71 83 70 95
Net Income / (Loss) Continuing Operations		 -23 21 -69 23 46 39 22 45 50 32 49
Consolidated Net Income / (Loss)		 -23 21 -69 23 46 39 22 45 50 32 49
Depreciation Expense		 13 7.48 5.66 5.18 7.04 6.55 6.68 7.36 7.75 7.17 7.93
Amortization Expense		 3.32 3.39 3.50 3.74 3.86 3.94 4.13 4.30 4.55 4.83 5.18
Non-Cash Adjustments To Reconcile Net Income		 23 29 157 37 27 18 47 12 11 33 13
Changes in Operating Assets and Liabilities, net		 -14 -9.40 -26 -12 -8.01 0.60 -7.44 2.49 9.97 -7.16 19
Net Cash From Investing Activities		 53 -13 -31 -15 -14 -7.63 -7.85 -7.16 -6.68 -6.69 -6.91
Net Cash From Continuing Investing Activities		 53 -13 -31 -15 -14 -7.63 -7.85 -7.16 -6.68 -6.69 -6.91
Purchase of Property, Plant & Equipment		 -20 -34 -31 -15 -14 -7.63 -7.85 -7.16 -6.68 -6.69 -6.91
Net Cash From Financing Activities		 -130 -83 -71 -10 -4.37 -191 -9.06 -118 -65 -181 -37
Net Cash From Continuing Financing Activities		 -130 -83 -71 -10 -2.79 -191 -8.38 -119 -65 -181 -37
Repurchase of Common Equity		 -101 -77 -65 -3.70 - -183 -1.78 -111 -57 -174 -30
Other Financing Activities, net		 -29 -5.60 -5.90 -6.58 -2.79 -8.65 -6.60 -8.17 -7.74 -6.57 -7.01
Effect of Exchange Rate Changes		 0.98 -0.58 -0.20 1.36 -2.18 0.71 1.43 -0.05 0.01 -0.61 -0.23
Cash Interest Paid		 0.16 0.14 0.17 0.30 0.16 0.03 0.28 0.17 0.10 0.28 0.03
Cash Income Taxes Paid		 26 1.13 25 11 3.82 0.70 17 0.45 2.04 -5.51 5.15

Annual Balance Sheets for CarGurus

This table presents CarGurus' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 100 177 268 394 502 932 927 919 825 662
Total Current Assets		 86 157 195 219 332 563 557 391 391 283
Cash & Equivalents		 29 88 35 60 190 232 470 291 304 191
Restricted Cash		 - 0.00 2.67 0.25 0.25 6.71 5.24 2.56 2.04 0.00
Accounts Receivable		 6.65 13 14 22 18 189 47 40 38 42
Inventories, net		 - - - - 0.00 20 5.28 0.33 0.00 0.00
Prepaid Expenses		 2.79 5.31 10 15 12 16 22 25 26 35
Other Current Assets		 - 1.61 13 9.54 11 9.05 8.54 11 13 15
Plant, Property, & Equipment, net		 13 17 24 28 27 32 40 83 124 133
Total Noncurrent Assets		 2.04 2.83 47 147 143 336 330 444 309 246
Goodwill		 - 0.00 0.00 15 29 158 157 158 27 28
Intangible Assets		 - 0.00 0.00 3.92 11 84 53 23 4.02 3.25
Noncurrent Deferred & Refundable Income Taxes		 0.00 0.83 39 43 20 13 35 73 107 81
Other Noncurrent Operating Assets		 2.04 2.00 8.36 85 83 81 84 190 138 133
Total Liabilities & Shareholders' Equity		 100 177 268 394 502 932 927 919 825 662
Total Liabilities		 36 50 74 137 129 252 156 302 283 288
Total Current Liabilities		 29 43 64 74 67 171 99 115 93 101
Accounts Payable		 16 24 34 37 22 66 33 48 22 29
Accrued Expenses		 8.38 14 19 18 25 79 39 34 32 38
Current Deferred Revenue		 4.24 5.47 11 9.98 9.14 13 12 21 22 24
Other Current Liabilities		 - 0.00 0.00 8.78 11 13 15 12 9.01 9.47
Total Noncurrent Liabilities		 6.56 6.60 11 63 62 81 57 187 190 187
Noncurrent Deferred & Payable Income Tax Liabilities		 0.29 0.00 0.00 0.28 0.29 0.06 0.05 0.06 0.03 0.44
Other Noncurrent Operating Liabilities		 0.59 0.96 1.28 63 62 81 57 187 190 187
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -68 127 194 257 374 517 735 617 542 374
Total Preferred & Common Equity		 -68 127 194 257 374 517 735 617 542 374
Preferred Stock		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -68 127 194 257 374 517 735 617 542 374
Common Stock		 3.76 185 184 205 242 388 413 264 169 10
Retained Earnings		 -72 -58 9.71 52 129 129 323 354 375 362
Accumulated Other Comprehensive Income / (Loss)		 -0.03 0.23 0.07 -0.35 1.88 -0.40 -1.64 -0.90 -2.55 1.43

Quarterly Balance Sheets for CarGurus

This table presents CarGurus' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 1,052 1,040 1,049 871 753 778 689 726 660 520 555
Total Current Assets		 543 535 535 324 288 327 252 309 269 162 203
Cash & Equivalents		 457 363 355 246 216 247 173 231 179 72 122
Restricted Cash		 15 12 12 2.79 2.20 3.99 2.85 2.12 0.02 0.00 0.00
Accounts Receivable		 42 38 46 44 40 45 41 41 40 45 44
Inventories, net		 1.64 0.54 0.32 0.39 0.46 0.35 0.81 0.96 0.00 0.00 0.00
Prepaid Expenses		 18 22 20 19 18 19 21 19 36 30 21
Other Current Assets		 9.39 10 10 11 12 12 14 15 15 15 15
Plant, Property, & Equipment, net		 43 48 55 108 130 127 132 130 133 130 130
Total Noncurrent Assets		 466 457 459 439 335 325 305 287 258 228 223
Goodwill		 158 158 157 158 47 47 47 28 28 28 28
Intangible Assets		 46 38 30 21 13 12 11 4.30 3.49 2.99 2.74
Noncurrent Deferred & Refundable Income Taxes		 47 52 68 82 118 121 110 120 93 80 76
Other Noncurrent Operating Assets		 215 209 203 178 158 145 137 134 134 117 116
Total Liabilities & Shareholders' Equity		 1,052 1,040 1,049 871 753 778 689 726 660 520 555
Total Liabilities		 323 310 305 302 301 295 287 291 285 282 291
Total Current Liabilities		 124 111 109 116 112 111 95 97 94 98 110
Accounts Payable		 43 39 37 46 46 47 30 33 30 31 36
Accrued Expenses		 45 36 37 38 34 32 32 32 31 33 39
Current Deferred Revenue		 21 21 21 21 22 22 22 23 24 25 25
Other Current Liabilities		 15 14 13 10 10 9.89 9.97 9.17 9.32 9.62 9.85
Total Noncurrent Liabilities		 199 199 197 186 189 184 193 193 191 185 181
Noncurrent Deferred & Payable Income Tax Liabilities		 0.03 0.04 0.06 0.04 0.04 0.00 0.02 0.03 0.03 0.44 0.00
Other Noncurrent Operating Liabilities		 199 199 196 186 189 184 193 193 191 184 181
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 696 701 717 568 452 483 402 435 375 237 264
Total Preferred & Common Equity		 696 701 717 568 452 483 402 435 375 237 264
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 696 701 717 568 452 483 402 435 375 237 264
Common Stock		 358 347 341 194 147 155 6.87 15 6.87 6.87 6.85
Retained Earnings		 339 356 378 375 307 329 396 419 367 230 257
Accumulated Other Comprehensive Income / (Loss)		 -1.23 -1.34 -2.12 -1.50 -1.70 -0.32 -1.31 1.37 1.39 0.45 0.13

Annual Metrics And Ratios for CarGurus

This table displays calculated financial ratios and metrics derived from CarGurus' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 100.98% 59.92% 43.31% 29.69% -6.36% 72.52% 73.96% -44.76% -2.17% 13.65%
EBITDA Growth		 0.00% 287.14% 51.58% 90.67% 43.49% 130.65% 68.88% -18.93% -42.66% -44.38% 47.39%
EBIT Growth		 0.00% 435.79% 75.50% 55.00% 53.96% 174.45% 52.23% -27.96% -69.07% -62.51% 56.02%
NOPAT Growth		 0.00% 451.79% 104.48% 365.89% -36.98% 104.67% 43.24% -29.81% -81.90% -18.05% 58.32%
Net Income Growth		 0.00% 497.13% 103.16% 393.75% -35.33% 84.01% 42.32% -28.47% -72.07% -4.90% 643.39%
EPS Growth		 0.00% -41.46% 120.69% 375.00% -35.09% 83.78% -100.00% 0.00% -69.35% 5.26% 675.00%
Operating Cash Flow Growth		 0.00% 54.89% 28.43% 101.33% 35.56% 123.55% -37.29% 160.56% -51.38% 105.17% 15.57%
Free Cash Flow Firm Growth		 0.00% 0.00% -11.81% 7.05% -193.26% 665.74% -301.90% 182.90% -93.66% 838.98% -4.61%
Invested Capital Growth		 0.00% 0.00% -12.18% 415.92% 151.81% -2.30% 322.70% -15.50% 1.89% -22.09% -9.45%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 8.48% 5.76% -1.18% 24.59% -3.08% -6.51% 0.61% -2.10%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 56.55% 10.11% 17.91% 12.02% -7.67% -34.82% 422.95% 30.70%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 45.75% 23.85% 23.35% 8.85% -11.69% -60.87% 120.36% 37.51%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 19.92% 3.99% 20.10% 8.37% -14.02% -75.58% 126.23% 31.68%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 18.52% 1.74% 18.29% 8.87% -12.16% -67.52% 144.14% 2.58%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 18.75% 2.78% 17.24% 0.00% 0.00% -87.25% 144.44% 4.03%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 41.98% 23.89% 5.16% 21.16% -46.29% 106.48% -42.70% 40.19% 2.56%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 80.10% -21.59% -27.87% 77.70% -92.06% 816.36% 15.94%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 48.13% -33.82% -9.81% 10.71% -10.82% 6.13% 1.17% -6.57%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 95.71% 95.17% 94.44% 94.54% 93.84% 92.26% 69.10% 39.73% 71.26% 82.62% 92.78%
EBITDA Margin		 3.28% 6.32% 5.99% 7.97% 8.82% 21.73% 21.27% 9.91% 10.29% 5.85% 31.86%
Operating Margin		 -2.56% 4.33% 4.82% 5.11% 5.83% 17.73% 15.58% 6.55% 3.57% 1.50% 26.95%
EBIT Margin		 -2.58% 4.30% 4.72% 5.11% 6.07% 17.78% 15.69% 6.50% 3.64% 1.39% 26.87%
Profit (Net Income) Margin		 -1.66% 3.28% 4.17% 14.35% 7.16% 14.06% 11.60% 4.77% 2.41% 2.34% 17.19%
Tax Burden Percent		 64.41% 72.63% 83.34% 255.73% 108.89% 78.25% 73.90% 70.90% 42.67% 85.06% 61.66%
Interest Burden Percent		 100.00% 104.88% 105.81% 109.84% 108.35% 101.10% 100.08% 103.58% 155.42% 197.76% 103.76%
Effective Tax Rate		 0.00% 27.37% 16.66% -155.73% -8.89% 21.75% 26.10% 29.10% 57.33% 14.95% 22.19%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 514.16% 62.95% 91.05% 50.49% 23.75% 4.65% 4.24% 98.42%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 510.23% 60.07% 90.59% 50.23% 23.24% 2.59% 1.16% 111.39%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% -473.58% -44.26% -66.44% -29.53% -12.87% -1.47% -0.62% -64.38%
Return on Equity (ROE)		 0.00% 10.04% 13.77% 40.59% 18.69% 24.60% 20.96% 10.88% 3.18% 3.62% 34.04%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 44.05% -23.36% 93.38% -72.99% 40.55% 2.78% 29.07% 108.34%
Operating Return on Assets (OROA)		 0.00% 8.50% 10.81% 10.43% 10.79% 21.88% 20.82% 11.57% 3.60% 1.43% 32.79%
Return on Assets (ROA)		 0.00% 6.48% 9.53% 29.30% 12.73% 17.31% 15.40% 8.50% 2.39% 2.41% 20.98%
Return on Common Equity (ROCE)		 0.00% -10.54% 4.24% 40.59% 18.69% 24.60% 17.72% 9.39% 3.09% 3.62% 34.04%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -9.56% 10.39% 33.57% 16.41% 20.76% 21.36% 10.75% 3.58% 3.87% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.77 6.23 13 59 37 76 110 77 14 11 190
NOPAT Margin		 -1.79% 3.14% 4.02% 13.06% 6.35% 13.87% 11.52% 4.65% 1.52% 1.28% 20.97%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.73% 0.44% 3.93% 2.87% 0.46% 0.26% 0.51% 2.06% 3.08% -12.96%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 10.47% 2.26% 2.11% 50.83%
Cost of Revenue to Revenue		 4.29% 4.83% 5.56% 5.46% 6.16% 7.74% 30.90% 60.27% 28.74% 17.38% 7.22%
SG&A Expenses to Revenue		 5.88% 6.45% 7.16% 8.69% 8.56% 11.27% 10.27% 4.42% 16.71% 12.53% 11.18%
R&D to Revenue		 8.35% 5.78% 7.09% 10.54% 11.79% 15.55% 11.19% 7.48% 15.99% 16.15% 15.25%
Operating Expenses to Revenue		 98.27% 90.84% 89.62% 89.43% 88.01% 74.53% 53.51% 33.18% 67.69% 81.12% 65.83%
Earnings before Interest and Taxes (EBIT)		 -2.54 8.53 15 23 36 98 149 108 33 12 244
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 3.24 13 19 36 52 120 202 164 94 52 289
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 25.04 19.13 15.33 9.62 7.66 2.27 4.40 7.00 9.78
Price to Tangible Book Value (P/TBV)		 0.00 0.00 25.04 19.13 16.57 10.77 14.41 3.18 6.22 7.83 10.69
Price to Revenue (P/Rev)		 0.00 0.00 10.04 8.18 6.69 6.52 4.16 1.01 2.97 4.24 4.04
Price to Earnings (P/E)		 0.00 0.00 447.91 56.97 93.45 46.33 0.00 8.60 87.21 180.69 23.48
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.22% 1.76% 1.07% 2.16% 0.00% 11.63% 1.15% 0.55% 4.26%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 105.25 44.32 39.77 10.81 4.14 7.93 14.79 18.89
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 9.60 7.82 6.40 5.99 3.99 0.74 2.62 3.89 3.83
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 160.24 98.12 72.50 27.56 18.74 7.49 25.49 66.58 12.01
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 203.29 153.12 105.44 33.69 25.42 11.42 72.10 279.38 14.24
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 239.04 59.90 100.78 43.17 34.62 15.97 172.24 305.35 18.24
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 118.44 68.68 53.72 21.07 38.59 4.80 19.26 13.63 11.75
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 219.07 238.92 0.00 42.10 0.00 9.35 288.10 44.57 16.57
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 -1.15 -1.11 -0.93 -0.74 -0.73 -0.59 -0.55 -0.57 -0.54 -0.58
Leverage Ratio		 0.00 1.55 1.44 1.39 1.47 1.42 1.36 1.28 1.33 1.50 1.62
Compound Leverage Factor		 0.00 1.63 1.53 1.52 1.59 1.44 1.36 1.33 2.07 2.98 1.68
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 205.02% 0.00% 0.00% 0.00% 0.00% 23.95% 4.76% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% -105.02% 100.00% 100.00% 100.00% 100.00% 76.05% 95.24% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 0.00 40.89 32.65 19.70 19.49 11.68 9.67 7.40 10.24 11.32
Noncontrolling Interest Sharing Ratio		 0.00% 205.02% 69.20% 0.00% 0.00% 0.00% 15.46% 13.75% 2.65% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 2.94 3.66 3.07 2.97 4.99 3.30 5.65 3.40 4.20 2.81
Quick Ratio		 0.00 2.79 3.50 2.70 2.63 4.64 3.00 5.23 3.06 3.74 2.31
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 16 14 15 -14 78 -158 131 8.32 78 209
Operating Cash Flow to CapEx		 169.60% 277.14% 348.49% 691.67% 492.87% 2,081.30% 708.36% 1,482.95% 305.58% 271.95% 1,007.23%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 1.97 2.29 2.04 1.78 1.23 1.33 1.78 0.99 1.03 1.22
Accounts Receivable Turnover		 0.00 29.78 32.95 34.68 32.96 27.33 9.17 14.02 21.07 21.24 22.61
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 80.00 93.64 464.69 0.00
Fixed Asset Turnover		 0.00 15.50 21.60 22.24 22.56 19.90 31.88 45.76 14.81 8.38 7.05
Accounts Payable Turnover		 0.00 0.58 0.87 0.85 1.02 1.47 6.70 20.22 6.54 4.19 2.57
Days Sales Outstanding (DSO)		 0.00 12.26 11.08 10.53 11.07 13.36 39.82 26.04 17.32 17.18 16.14
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.56 3.90 0.79 0.00
Days Payable Outstanding (DPO)		 0.00 626.16 418.02 428.49 357.34 249.11 54.45 18.05 55.82 87.19 141.99
Cash Conversion Cycle (CCC)		 0.00 -613.91 -406.95 -417.96 -346.26 -235.76 -14.63 12.55 -34.60 -69.22 -125.85
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 -9.52 -11 34 85 83 351 297 302 235 184
Invested Capital Turnover		 0.00 -41.61 -31.36 39.37 9.92 6.56 4.38 5.11 3.05 3.33 4.69
Increase / (Decrease) in Invested Capital		 0.00 -9.52 -1.16 44 51 -1.96 268 -54 5.60 -67 -19
Enterprise Value (EV)		 0.00 0.00 3,043 3,553 3,767 3,302 3,793 1,228 2,398 3,483 3,470
Market Capitalization		 0.00 0.00 3,181 3,713 3,938 3,593 3,959 1,666 2,712 3,789 3,661
Book Value per Share		 $0.00 ($1.54) $1.20 $1.76 $2.29 $3.30 $4.39 $6.18 $5.49 $5.22 $3.92
Tangible Book Value per Share		 $0.00 ($1.54) $1.20 $1.76 $2.12 $2.95 $2.33 $4.41 $3.88 $4.66 $3.59
Total Capital		 0.00 65 127 194 257 374 680 771 617 542 374
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 -74 -138 -160 -172 -291 -329 -475 -315 -306 -191
Capital Expenditures (CapEx)		 7.62 7.22 7.37 7.48 14 7.53 14 17 41 94 29
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -18 -23 -29 -27 -25 64 -16 -39 -8.07 -8.11
Debt-free Net Working Capital (DFNWC)		 0.00 56 114 131 145 265 392 459 276 298 182
Net Working Capital (NWC)		 0.00 56 114 131 145 265 392 459 276 298 182
Net Nonoperating Expense (NNE)		 -0.13 -0.27 -0.47 -5.86 -4.77 -1.06 -0.81 -2.04 -8.13 -9.56 34
Net Nonoperating Obligations (NNO)		 0.00 -74 -138 -160 -172 -291 -329 -475 -315 -306 -191
Total Depreciation and Amortization (D&A)		 5.78 4.00 4.02 13 16 22 53 57 61 40 45
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -8.98% -7.41% -6.39% -4.53% -4.55% 6.70% -0.97% -4.23% -0.90% -0.89%
Debt-free Net Working Capital to Revenue		 0.00% 28.49% 36.05% 28.93% 24.65% 48.13% 41.25% 27.71% 30.19% 33.34% 20.11%
Net Working Capital to Revenue		 0.00% 28.49% 36.05% 28.93% 24.65% 48.13% 41.25% 27.71% 30.19% 33.34% 20.11%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.13 $0.60 $0.38 $0.69 $0.00 $1.64 $0.27 $0.20 $1.58
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 106.13M 110.79M 112.30M 112.85M 117.14M 118.47M 113.24M 104.54M 98.84M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.12 $0.57 $0.37 $0.68 $0.00 $0.62 $0.19 $0.20 $1.55
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 106.13M 110.79M 112.30M 113.85M 117.14M 128.15M 114.19M 106.26M 100.41M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 106.13M 110.79M 112.30M 116.80M 118.07M 114.87M 107.44M 104.42M 95.19M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.77 6.23 13 16 24 76 110 77 23 126 191
Normalized NOPAT Margin		 -1.79% 3.14% 4.02% 3.58% 4.08% 13.87% 11.52% 4.65% 2.50% 14.07% 21.02%
Pre Tax Income Margin		 -2.58% 4.51% 5.00% 5.61% 6.57% 17.97% 15.70% 6.73% 5.65% 2.76% 27.88%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.22% 0.17% 0.00% 0.00%
Augmented Payout Ratio		 -1,100.24% 923.50% 0.00% 0.00% 0.00% 0.00% 0.00% 43.49% 945.73% 697.02% 226.17%

Quarterly Metrics And Ratios for CarGurus

This table displays calculated financial ratios and metrics derived from CarGurus' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 95,189,147.00 90,187,098.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 95,189,147.00 90,187,098.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.34 0.55
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -22.19% -6.97% -8.78% 5.44% 2.43% 4.34% 7.01% 3.17% 58.17% 14.76% 13.05%
EBITDA Growth		 -112.06% 25.95% -355.58% -3.64% 1,267.44% 52.66% 143.12% 81.86% -36.67% -15.40% 5.36%
EBIT Growth		 -171.04% 75.92% -613.48% 24.27% 343.04% 76.32% 127.22% 98.52% -39.43% -21.61% 2.55%
NOPAT Growth		 -173.79% 107.99% -699.21% 27.83% 383.42% 95.10% 130.92% 110.35% -40.96% -21.27% 3.83%
Net Income Growth		 -197.30% 79.51% -597.37% 18.65% 302.99% 83.30% 132.51% 98.65% 8.54% -17.46% 120.17%
EPS Growth		 -118.18% 100.00% -650.00% 23.53% 325.00% 85.00% 133.33% 114.29% 13.33% -8.11% 145.45%
Operating Cash Flow Growth		 -97.38% -21.68% 144.06% 113.27% 2,934.33% 30.63% 2.13% 26.64% 9.74% 2.90% 29.37%
Free Cash Flow Firm Growth		 -128.05% -157.44% -137.29% 13.51% 623.59% 396.29% 254.22% 9.36% -56.67% -30.21% 38.34%
Invested Capital Growth		 1.89% 24.41% -12.01% -18.27% -22.09% -29.10% -13.51% -15.53% -9.45% -27.07% -29.64%
Revenue Q/Q Growth		 1.69% -3.28% 1.34% 5.79% -1.22% -1.48% 3.94% 1.99% -12.40% 16.48% 3.04%
EBITDA Q/Q Growth		 -114.37% 777.89% -328.38% 143.32% 74.08% -11.35% -35.49% 82.69% 98.66% -60.70% 46.95%
EBIT Q/Q Growth		 -197.65% 220.00% -460.23% 129.44% 90.97% -12.95% -44.40% 114.75% 118.67% -66.74% 58.42%
NOPAT Q/Q Growth		 -196.97% 221.01% -447.33% 131.36% 114.99% -16.70% -44.96% 113.41% 107.73% -65.03% 55.44%
Net Income Q/Q Growth		 -219.13% 194.24% -422.62% 132.76% 103.82% -14.90% -42.78% 100.14% 11.36% -35.28% 52.64%
EPS Q/Q Growth		 -217.65% 200.00% -430.00% 131.82% 114.29% -17.78% -40.54% 104.55% 13.33% -33.33% 58.82%
Operating Cash Flow Q/Q Growth		 -90.53% 1,981.89% 37.78% -21.51% 34.77% -10.38% 7.72% -2.67% 16.79% -15.96% 35.42%
Free Cash Flow Firm Q/Q Growth		 -133.14% -106.63% 23.22% 315.92% 52.85% 16.93% -60.03% 53.10% 37.29% -14.96% 17.33%
Invested Capital Q/Q Growth		 6.13% 5.64% -26.79% -0.42% 1.17% -3.87% -10.70% -2.74% -6.57% -10.13% -13.85%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 75.31% 81.08% 83.43% 78.90% 87.07% 88.70% 87.33% 89.46% 107.08% 92.23% 92.08%
EBITDA Margin		 -2.42% 16.98% -38.27% 15.67% 27.62% 24.85% 15.42% 27.62% 62.64% 21.13% 30.14%
Operating Margin		 -9.98% 12.18% -42.79% 11.86% 23.31% 20.32% 10.62% 22.91% 56.99% 16.46% 25.10%
EBIT Margin		 -9.63% 11.95% -42.46% 11.82% 22.85% 20.19% 10.80% 22.74% 56.76% 16.21% 24.92%
Profit (Net Income) Margin		 -10.13% 9.87% -31.42% 9.73% 20.08% 17.34% 9.55% 18.73% 23.82% 13.23% 19.60%
Tax Burden Percent		 137.91% 71.76% 76.00% 74.89% 82.91% 80.42% 81.52% 79.05% 41.39% 78.33% 77.48%
Interest Burden Percent		 76.29% 115.15% 97.37% 109.94% 105.99% 106.82% 108.44% 104.22% 101.37% 104.23% 101.53%
Effective Tax Rate		 0.00% 28.24% 0.00% 25.11% 17.09% 19.58% 18.48% 20.95% 24.66% 21.67% 22.52%
Return on Invested Capital (ROIC)		 -21.33% 27.26% -105.23% 30.51% 64.30% 54.14% 36.50% 78.14% 201.51% 61.80% 109.24%
ROIC Less NNEP Spread (ROIC-NNEP)		 -19.55% 26.58% -104.29% 29.96% 63.75% 53.08% 35.57% 77.45% 216.61% 61.12% 109.02%
Return on Net Nonoperating Assets (RNNOA)		 11.12% -14.78% 60.26% -17.32% -34.17% -23.24% -18.10% -38.74% -125.20% -23.69% -55.38%
Return on Equity (ROE)		 -10.21% 12.48% -44.97% 13.19% 30.14% 30.90% 18.39% 39.41% 76.31% 38.11% 53.86%
Cash Return on Invested Capital (CROIC)		 2.78% -13.96% -5.86% 3.30% 29.07% 44.78% 70.34% 84.13% 108.34% 124.16% 141.39%
Operating Return on Assets (OROA)		 -9.54% 11.16% -41.53% 11.50% 23.44% 23.39% 13.42% 29.29% 69.27% 25.16% 37.62%
Return on Assets (ROA)		 -10.03% 9.22% -30.73% 9.47% 20.60% 20.09% 11.86% 24.13% 29.06% 20.54% 29.60%
Return on Common Equity (ROCE)		 -9.94% 12.17% -43.83% 12.90% 30.14% 30.90% 18.39% 39.41% 76.31% 38.11% 53.86%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 5.54% -11.29% -9.83% 0.00% 9.63% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -16 19 -66 21 44 37 20 43 90 31 49
NOPAT Margin		 -6.99% 8.74% -29.95% 8.88% 19.33% 16.34% 8.65% 18.11% 42.94% 12.89% 19.44%
Net Nonoperating Expense Percent (NNEP)		 -1.78% 0.68% -0.94% 0.55% 0.55% 1.06% 0.93% 0.70% -15.11% 0.67% 0.22%
Return On Investment Capital (ROIC_SIMPLE)		 -2.53% - - - 8.15% 9.15% 4.65% 11.51% 23.99% 13.24% 18.46%
Cost of Revenue to Revenue		 24.69% 18.92% 16.57% 21.10% 12.93% 11.30% 12.67% 10.54% -7.08% 7.77% 7.92%
SG&A Expenses to Revenue		 33.91% 13.01% 12.54% 12.18% 12.42% 11.89% 11.56% 11.92% 9.14% 10.87% 11.24%
R&D to Revenue		 16.46% 16.47% 16.73% 15.72% 15.73% 16.10% 14.69% 15.21% 14.99% 15.47% 15.20%
Operating Expenses to Revenue		 85.29% 68.90% 126.22% 67.05% 63.76% 68.38% 76.71% 66.55% 50.08% 75.77% 66.99%
Earnings before Interest and Taxes (EBIT)		 -21 26 -93 27 52 45 25 54 119 39 63
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -5.41 37 -84 36 63 56 36 66 131 51 76
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.40 4.56 6.04 6.42 7.00 7.57 7.60 9.84 9.78 13.67 11.63
Price to Tangible Book Value (P/TBV)		 6.22 6.65 6.95 7.32 7.83 8.84 8.21 10.76 10.69 15.73 13.16
Price to Revenue (P/Rev)		 2.97 2.89 3.11 3.49 4.24 3.37 3.60 3.99 4.04 3.45 3.18
Price to Earnings (P/E)		 87.21 71.44 0.00 0.00 180.69 78.56 25.49 24.31 23.48 21.74 17.48
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.15% 1.40% 0.00% 0.00% 0.55% 1.27% 3.92% 4.11% 4.26% 4.60% 5.72%
Enterprise Value to Invested Capital (EV/IC)		 7.93 7.34 10.75 12.26 14.79 12.66 15.21 17.89 18.89 19.20 20.76
Enterprise Value to Revenue (EV/Rev)		 2.62 2.61 2.86 3.21 3.89 3.17 3.35 3.80 3.83 3.38 3.05
Enterprise Value to EBITDA (EV/EBITDA)		 25.49 23.05 0.00 0.00 66.58 40.02 16.07 15.91 12.01 11.34 10.42
Enterprise Value to EBIT (EV/EBIT)		 72.10 52.77 0.00 0.00 279.38 89.16 20.46 19.84 14.24 13.61 12.60
Enterprise Value to NOPAT (EV/NOPAT)		 172.24 104.43 0.00 0.00 305.35 97.98 25.27 24.34 18.24 17.44 16.09
Enterprise Value to Operating Cash Flow (EV/OCF)		 19.26 21.26 16.48 15.66 13.63 10.56 11.27 12.21 11.75 10.66 9.26
Enterprise Value to Free Cash Flow (EV/FCFF)		 288.10 0.00 0.00 334.58 44.57 23.46 20.06 19.47 16.57 13.04 12.13
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.57 -0.56 -0.58 -0.58 -0.54 -0.44 -0.51 -0.50 -0.58 -0.39 -0.51
Leverage Ratio		 1.33 1.48 1.52 1.49 1.50 1.61 1.67 1.67 1.62 1.89 1.83
Compound Leverage Factor		 1.01 1.71 1.48 1.64 1.60 1.72 1.81 1.75 1.65 1.97 1.86
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 7.21 7.16 7.05 8.50 10.40 8.97 9.37 10.55 10.69 9.71 9.31
Noncontrolling Interest Sharing Ratio		 2.65% 2.50% 2.53% 2.16% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.40 2.78 2.57 2.95 4.20 2.67 3.18 2.87 2.81 1.65 1.85
Quick Ratio		 3.06 2.50 2.28 2.63 3.74 2.26 2.80 2.33 2.31 1.19 1.51
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -21 -44 -34 73 111 130 52 79 109 93 109
Operating Cash Flow to CapEx		 12.24% 152.25% 229.29% 377.28% 552.91% 889.52% 932.05% 994.48% 1,243.52% 1,043.77% 1,368.90%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.99 0.93 0.98 0.97 1.03 1.16 1.24 1.29 1.22 1.55 1.51
Accounts Receivable Turnover		 21.07 20.72 22.61 19.61 21.24 21.26 22.75 22.02 22.61 22.01 22.82
Inventory Turnover		 93.64 223.51 374.58 541.85 464.69 233.23 187.70 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 14.81 11.90 9.84 9.81 8.38 7.51 7.06 7.14 7.05 7.16 7.44
Accounts Payable Turnover		 6.54 5.08 4.39 4.27 4.19 3.67 3.39 2.83 2.57 2.31 2.16
Days Sales Outstanding (DSO)		 17.32 17.62 16.14 18.61 17.18 17.16 16.04 16.58 16.14 16.59 16.00
Days Inventory Outstanding (DIO)		 3.90 1.63 0.97 0.67 0.79 1.57 1.94 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 55.82 71.81 83.18 85.43 87.19 99.50 107.82 128.94 141.99 157.81 169.10
Cash Conversion Cycle (CCC)		 -34.60 -52.55 -66.07 -66.15 -69.22 -80.77 -89.83 -112.36 -125.85 -141.23 -153.10
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 302 319 234 233 235 226 202 197 184 165 142
Invested Capital Turnover		 3.05 3.12 3.51 3.44 3.33 3.31 4.22 4.32 4.69 4.79 5.62
Increase / (Decrease) in Invested Capital		 5.60 63 -32 -52 -67 -93 -32 -36 -19 -61 -60
Enterprise Value (EV)		 2,398 2,342 2,511 2,853 3,483 2,866 3,075 3,517 3,470 3,169 2,952
Market Capitalization		 2,712 2,591 2,730 3,104 3,789 3,042 3,308 3,695 3,661 3,241 3,074
Book Value per Share		 $5.49 $5.30 $4.34 $4.68 $5.22 $3.85 $4.41 $3.78 $3.92 $2.49 $2.93
Tangible Book Value per Share		 $3.88 $3.64 $3.77 $4.10 $4.66 $3.29 $4.08 $3.46 $3.59 $2.17 $2.59
Total Capital		 617 568 452 483 542 402 435 375 374 237 264
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -315 -249 -218 -251 -306 -176 -233 -179 -191 -72 -122
Capital Expenditures (CapEx)		 20 34 31 15 14 7.63 7.85 7.16 6.68 6.69 6.91
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -39 -42 -42 -35 -8.07 -18 -22 -3.32 -8.11 -8.13 -29
Debt-free Net Working Capital (DFNWC)		 276 207 176 216 298 157 212 176 182 64 93
Net Working Capital (NWC)		 276 207 176 216 298 157 212 176 182 64 93
Net Nonoperating Expense (NNE)		 7.02 -2.44 3.21 -1.96 -1.71 -2.25 -2.09 -1.50 40 -0.83 -0.39
Net Nonoperating Obligations (NNO)		 -315 -249 -218 -251 -306 -176 -233 -179 -191 -72 -122
Total Depreciation and Amortization (D&A)		 16 11 9.17 8.92 11 10 11 12 12 12 13
Debt-free, Cash-free Net Working Capital to Revenue		 -4.23% -4.64% -4.80% -3.90% -0.90% -2.02% -2.35% -0.36% -0.89% -0.87% -3.00%
Debt-free Net Working Capital to Revenue		 30.19% 23.10% 20.10% 24.30% 33.34% 17.42% 23.04% 18.95% 20.11% 6.81% 9.62%
Net Working Capital to Revenue		 30.19% 23.10% 20.10% 24.30% 33.34% 17.42% 23.04% 18.95% 20.11% 6.81% 9.62%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.21) $0.20 ($0.66) $0.22 $0.44 $0.38 $0.23 $0.46 $0.51 $0.34 $0.55
Adjusted Weighted Average Basic Shares Outstanding		 113.24M 107.17M 103.83M 103.32M 104.54M 103.09M 98.89M 98.17M 98.84M 94.06M 90.13M
Adjusted Diluted Earnings per Share		 ($0.20) $0.20 ($0.66) $0.21 $0.45 $0.37 $0.22 $0.45 $0.51 $0.34 $0.54
Adjusted Weighted Average Diluted Shares Outstanding		 114.19M 108.63M 103.83M 105.06M 106.26M 105.07M 100.18M 99.72M 100.41M 95.10M 91.08M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 107.44M 104.19M 103.37M 103.71M 104.42M 98.85M 99.26M 95.45M 95.19M 90.19M 89.07M
Normalized Net Operating Profit after Tax (NOPAT)		 -16 19 24 26 44 37 44 43 90 46 49
Normalized NOPAT Margin		 -6.99% 8.74% 10.85% 11.16% 19.33% 16.34% 18.98% 18.11% 42.94% 19.07% 19.58%
Pre Tax Income Margin		 -7.35% 13.76% -41.35% 12.99% 24.21% 21.56% 11.71% 23.70% 57.54% 16.89% 25.30%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.17% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 945.73% 689.00% -508.41% -520.49% 697.02% 649.77% 145.10% 194.47% 226.17% 230.89% 211.50%

Financials Breakdown Chart

Key Financial Trends

CarGurus (NASDAQ: CARG) has continued to improve profitability, but the latest quarter also shows a sharp decline in cash and a much heavier reliance on share repurchases. Over the last four years, the company has gone from a highly cash-rich balance sheet to a much leaner one, while revenue has stayed relatively steady and operating margins have generally improved from the weak 2022 period.

Quarterly trend snapshot: Q1 2026 revenue was $243.6 million, up modestly from $238.7 million in Q3 2025 and $212.2 million in Q1 2025. Net income in Q1 2026 was $32.2 million, down from $44.7 million a year earlier, but still solidly profitable.

  • Profitability remains intact. CarGurus posted $32.2 million in net income in Q1 2026, versus a net loss in several quarters back in 2024.
  • Operating income is positive and healthy. Q1 2026 operating income of $40.1 million shows the core business continues to generate profits.
  • Gross profit stays strong. Q1 2026 gross profit was $224.6 million, implying a very attractive gross margin profile for the quarter.
  • Operating cash flow is still robust. The company generated $69.8 million in operating cash flow in Q1 2026.
  • Revenue has held up over time. Quarterly revenue has generally stayed in the low-to-mid $200 million range, suggesting a stable top line rather than a collapsing one.
  • Balance sheet still has enough liquidity for now. CarGurus ended Q1 2026 with $72.0 million in cash and equivalents and $161.9 million in current assets.
  • Deferred revenue provides some visibility. Q1 2026 current deferred revenue was $24.7 million, which supports near-term revenue recognition.
  • Cash has fallen sharply. Cash and equivalents dropped from $178.8 million in Q3 2025 to $72.0 million in Q1 2026, a significant decline in just one quarter.
  • Share repurchases are consuming a lot of cash. The company spent $174.4 million on buybacks in Q1 2026, which was far above operating cash flow.
  • Equity has declined meaningfully from prior levels. Total common equity was $237.1 million in Q1 2026, down from $375.4 million in Q3 2025 and well below $402.1 million in Q1 2025.

Looking at the longer trend, CarGurus has moved away from the difficult 2024 period. In Q2 2024, the company reported a large operating loss of $93.6 million, driven in part by a $127.5 million impairment charge. By late 2025 and early 2026, that impairment item disappeared and operating income recovered sharply, indicating the business has normalized.

However, the company’s capital allocation is now the biggest story. Cash dropped from $231.2 million in Q2 2025 to $72.0 million in Q1 2026, while financing cash outflows were $181.0 million in the latest quarter. That kind of buyback activity can support per-share earnings, but it also reduces balance-sheet flexibility if growth slows.

Bottom line: CarGurus looks operationally healthier than it did a year or two ago, with steady revenue, strong gross profit, positive operating income, and ongoing cash generation. But investors should keep a close eye on the pace of share repurchases and the rapid decline in cash reserves, since those trends could become a concern if they continue.

08/18/26 07:13 AM ETAI Generated. May Contain Errors.

CarGurus Financials - Frequently Asked Questions

According to the most recent income statement we have on file, CarGurus' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

CarGurus' net income appears to be on an upward trend, with a most recent value of $155.90 million in 2025, falling from -$1.64 million in 2015. The previous period was $20.97 million in 2024. Check out CarGurus' forecast to explore projected trends and price targets.

CarGurus' total operating income in 2025 was $244.45 million, based on the following breakdown:
  • Total Gross Profit: $841.51 million
  • Total Operating Expenses: $597.07 million

Over the last 10 years, CarGurus' total revenue changed from $98.59 million in 2015 to $906.98 million in 2025, a change of 820.0%.

CarGurus' total liabilities were at $287.70 million at the end of 2025, a 1.7% increase from 2024, and a 708.0% increase since 2016.

In the past 9 years, CarGurus' cash and equivalents has ranged from $29.48 million in 2016 to $469.52 million in 2022, and is currently $190.52 million as of their latest financial filing in 2025.

Over the last 10 years, CarGurus' book value per share changed from 0.00 in 2015 to 3.92 in 2025, a change of 392.0%.


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Financial statements for NASDAQ:CARG last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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