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Provides vehicle telematics and fleet management technology (Cartrack) mainly in South Africa and other emerging markets.
Provides vehicle telematics and fleet management technology (Cartrack) mainly in South Africa and other emerging markets.
Paid a monthly subscription for every vehicle it tracks, so income grows as its tracked-vehicle base grows and recurs with little new selling. Hardware is installed once with the contract, and South Africa is the largest market. Its logistics software is sold separately.
Moat: narrow (installed base, distribution, data). Large installed base of tracked vehicles and recurring subscription revenue in underserved emerging markets.
Headquarters: Singapore · Founded: 2004 · Employees: 5,711
Size Karooooo (KARO) is a United States Information Technology company (Packaged Software) with a market value of $1.95B, the 1813th largest of 3,117 United States companies the cockpit tracks. Shares closed at $62.98 on 6 Nov 2026.
Performance Over six months the shares gained 25.5%, against -13.3% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 31.8% over the last twelve months (peer median +9.8%); the operating margin is 25.2% (peer median -0.5%).
Valuation It trades at 24.1× forward earnings against a peer median of 44.4× (4th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 20.9 points above its cost of capital (8.8% WACC).
Next results Next results expected around 21 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $364M | $313M | $250M | $225M | $210M |
| Revenue growth | — | +25% | +11% | +7% | — |
| Gross profit | $245M | $213M | $175M | $144M | $136M |
| EBITDA | $149M | $136M | $111M | $93.2M | $87.3M |
| Net income | $64.1M | $56.8M | $50.4M | $39.5M | $35.7M |
| Free cash flow | n/a | $46.3M | $49.8M | $4.21M | $32.7M |
| Capital expenditure | n/a | $69.7M | $59.1M | $49.6M | $37.5M |
| Total debt | $88.4M | $71.9M | $39.0M | $13.9M | $9.84M |
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 |
|---|---|---|---|---|---|---|
| Karooooo KARO | $1.95B | +25% | +32% | 25% | 24.1× | 10.4% |
| Samsara IOT | $24.0B | +38% | +30% | 1% | 48.5× | n/a |
| Verizon VZ | $189B | -3% | +1% | 24% | 8.8× | -7.2% |
| PowerFleet AIOT | $361M | -4% | +15% | 7% | 87.7× | 15.3% |
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 | KARO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.5% | +2.8% | 10th highest of 21 |
| 6-month return | +25.5% | -13.3% | 5th highest of 21 |
| Distance from 52-week high | -8.5% | -42.5% | 3rd highest of 21 |
| Revenue growth (TTM) | +31.8% | +9.8% | 5th highest of 21 |
| Operating margin | 25.2% | -0.5% | 4th highest of 21 |
| Forward P/E | 24.1× | 44.4× | 4th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 10.4% | 25.9% | 5th least demanding of 14 |
| Growth delivered (Del g) | +17.7% | +11.5% | 4th highest of 14 |
| Hurdle (Req g minus delivered) | -7.3 pp | +19.5 pp | 5th least demanding of 14 |
| ROIC minus cost of capital | +20.9 pp | -10.5 pp | 4th highest of 17 |
| EV / EBITDA | 13.4× | 9.5× | 3rd most expensive of 7 |
| Net debt / EBITDA | 0.3× | -3.1× | 2nd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Karooooo KARO | United States | $1.95B | +25% | +32% | 25% | 24.1× | 10.4% | +17.7% |
| Planisware Societe anonyme PLNW.PA | France | $1.94B | +46% | +8% | 31% | 28.2× | 12.3% | +16.8% |
| Pony AI 2026.HK | Hong Kong | $1.93B | -56% | +67% | -214% | n/a | n/a | n/a |
| Ourpalm 300315.SZ | China | $1.96B | -3% | -5% | -65% | 125.6× | 55.8% | -17.0% |
| Aisino 600271.SS | China | $1.96B | -16% | -12% | -24% | 26.2× | n/a | n/a |
| iReader Technology 603533.SS | China | $1.98B | +20% | +14% | -2% | 91.2× | 37.2% | +9.5% |
| Pine Labs PINELABS.NS | India | $1.98B | -19% | +50% | 7% | 79.2× | n/a | n/a |
| China TransInfo Technology 002373.SZ | China | $1.89B | -11% | +16% | 1% | 39.7× | 22.0% | -2.7% |
| iFAST AIY.SI | Singapore | $1.89B | -10% | +35% | 24% | 18.6× | -11.6% | +24.8% |
| Tianyu Digital Technology 002354.SZ | China | $2.00B | +31% | +8% | -2% | 135.3× | 25.9% | +15.8% |
| Justsystems 4686.T | Japan | $2.01B | +33% | +10% | 44% | n/a | -6.3% | +4.6% |
| Business-Intelligence of Oriental Nations 300166.SZ | China | $1.88B | -27% | +7% | -5% | 94.1× | n/a | n/a |
| Zhejiang Jinke Tom Culture Industry 300459.SZ | China | $2.01B | -9% | -10% | -108% | n/a | 43.2% | -12.5% |
| Shenzhen Intellifusion Technologies 688343.SS | China | $1.87B | -46% | -4% | -52% | n/a | n/a | n/a |
| ArcSoft 688088.SS | China | $1.87B | -26% | +10% | 12% | 49.1× | 41.3% | +6.2% |
| eToro ETOR | United States | $1.86B | -40% | +10% | 32% | 11.0× | -18.5% | +15.4% |
| Hydsoft Technology 301316.SZ | China | $1.86B | -41% | +19% | 3% | 158.4× | 46.1% | +26.7% |
| SoundHound AI SOUN | United States | $1.85B | -54% | +55% | -96% | n/a | n/a | n/a |
| Mobvista Incorporation 1860.HK | Hong Kong | $2.05B | -43% | +26% | 4% | 19.6× | -1.1% | +31.9% |
| C3.ai AI | United States | $1.84B | +18% | -38% | -198% | n/a | n/a | n/a |
| Certara CERT | United States | $1.84B | +91% | +1% | 5% | 31.4× | 40.7% | +11.5% |