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Operates an online marketplace connecting car buyers with dealer listings, price ratings and financing tools.
Operates an online marketplace connecting car buyers with dealer listings, price ratings and financing tools.
Dealers pay monthly subscriptions to list cars and reach shoppers, which carries the profit. A wholesale business, CarOffer, adds large revenue from vehicles traded between dealers at a thin margin.
Moat: narrow (network effects, data, brand). Large listing/traffic base and proprietary pricing data attract both buyers and dealers versus smaller sites.
Headquarters: Cambridge, Massachusetts, United States · Founded: 2006 · Employees: 1,218
Size CarGurus (CARG) is a United States Communication Services company (Internet Software/Services) with a market value of $3.01B, the 1551st largest of 3,117 United States companies the cockpit tracks. Shares closed at $33.74 on 6 Nov 2026.
Performance Over six months the shares fell 2.9%, against -7.5% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 9 in its peer set.
Growth Revenue grew 6.0% over the last twelve months (peer median +9.5%); the operating margin is 25.7% (peer median 7.5%).
Valuation It trades at 12.1× forward earnings against a peer median of 13.6× (3rd cheapest of 8).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 49.8 points above its cost of capital (10.6% WACC).
Backlog Backlog (remaining performance obligations) was $52.6M at 30 Sep 2026, down 32% on a year earlier — 0.1 years of trailing revenue. Backlog detail →
Credit CarGurus has 8 bonds outstanding ($5.10B), rated A by the agencies and trading like AA- at a weighted spread of 52 bp.
Short interest Short interest is 12.6% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $974M | $907M | $798M | $914M | $1.66B |
| Revenue growth | — | +14% | -13% | -45% | — |
| Gross profit | $875M | $826M | $719M | $636M | $642M |
| EBITDA | $299M | $295M | $208M | $92.9M | $165M |
| Net income | $176M | $156M | $21.0M | $31.1M | $194M |
| Free cash flow | $291M | $266M | $162M | $83.3M | $236M |
| Capital expenditure | $27.4M | $29.3M | $93.9M | $41.2M | $17.3M |
| Total debt | $185M | $191M | $193M | $194M | $66.4M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| CarGurus CARG | $3.01B | -3% | +6% | 26% | 12.1× | 2.7% |
| Cars.com CARS | $715M | +14% | +1% | 11% | 6.2× | 5.7% |
| Autotrader AUTO.L | $5.68B | +12% | +4% | 62% | 14.3× | -0.7% |
| CarMax KMX | $7.31B | +28% | +4% | 2% | 15.5× | 17.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CARG | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.4% | -6.6% | 2nd highest of 9 |
| 6-month return | -2.9% | -7.5% | 4th highest of 9 |
| Distance from 52-week high | -18.1% | -29.5% | 2nd highest of 9 |
| Revenue growth (TTM) | +6.0% | +9.5% | 5th highest of 9 |
| Operating margin | 25.7% | 7.5% | 3rd highest of 9 |
| Forward P/E | 12.1× | 13.6× | 3rd cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | 2.7% | -6.0% | 3rd most demanding of 8 |
| Growth delivered (Del g) | +10.5% | +12.8% | 4th lowest of 8 |
| Hurdle (Req g minus delivered) | -7.8 pp | -24.1 pp | 3rd most demanding of 8 |
| ROIC minus cost of capital | +49.8 pp | -2.0 pp | highest of 8 |
| EV / EBITDA | 10.3× | 11.9× | 4th cheapest of 7 |
| Net debt / EBITDA | 0.2× | -1.3× | 3rd most indebted of 8 |
| Bond spread | 52 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CarGurus CARG | United States | $3.01B | -3% | +6% | 26% | 12.1× | 2.7% | +10.5% |
| China Ruyi 0136.HK | Hong Kong | $2.82B | -5% | -40% | -17% | 12.6× | 13.1% | +69.6% |
| Autohome 2518.HK | Hong Kong | $2.70B | +21% | -22% | 0% | 22.7× | -15.3% | -6.4% |
| NetEase Cloud Music 9899.HK | Hong Kong | $2.52B | -21% | +6% | 17% | 10.1× | -18.7% | +8.9% |
| RUM RUM | United States | $2.44B | -41% | +13% | -101% | n/a | n/a | n/a |
| Grindr GRND | United States | $2.35B | -10% | +32% | 31% | 19.7× | -6.0% | +31.1% |
| Cyber Agent 4751.T | Japan | $4.13B | +3% | +14% | 10% | 15.4× | -11.3% | +12.8% |
| Match MTCH | United States | $8.88B | +6% | 0% | 30% | 13.6× | 1.8% | +7.8% |
| Pinterest PINS | United States | $10.9B | -11% | +15% | 6% | 8.8× | 16.2% | +20.1% |
CarGurus has 8 bonds outstanding with $5.10B face value. The agencies rate it A; its bonds trade like AA-. Weighted yield 5.22%, a spread of 52 bp over government bonds.
CarGurus reported $52.6M of remaining performance obligations at 30 Sep 2026, down 32% from a year earlier and down 19% from the previous quarter. That is 0.1 years of trailing revenue already under contract. Book-to-bill last quarter: 0.95.