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CarGurus, Inc. operates an online automotive platform for buying and selling vehicles in the United States and internationally. The company offers dealer subscription fees, advertising from auto manufacturers and other brand advertisers, and partnerships with financing services companies. It provides an online automotive marketplace that connects large audience of car shoppers with extensive network of dealers, anchoring integrated suite of products. It also offers Digital Deal which allows consumers the option to start their vehicle purchase process online for eligible listings; Dealership Mode which provides consumers with on-the-lot support during visits to participating dealers through the CarGurus app; Sell My Car Β Top Dealer Offers which allows dealers to make tailored trade-in offers; and IMV Scan enables dealers to scan a VIN using their smartphone to access IMV data; and PriceVantage, an advanced pricing software powered by machine learning that leverages real-time consumer demand. In addition, the company provides auto manufacturers and others advertiser products, such as brand reinforcement, category sponsorship, automobile segment exclusivity, and consumer segment exposure; Autolist, an online automotive marketplace through mobile applications and a website; and PistonHeads which is an automotive marketplace, auction platform, and editorial site for automotive enthusiasts. The company was formerly known as CarGurus LLC and changed its name to CarGurus, Inc. in June 2015. CarGurus, Inc. was founded in 2005 and is headquartered in Boston, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $907M | $273M | $156M | $266M | 41.7% | 13.7% | 643.4% |
| 2024 | $798M | $194M | $21M | $162M | 3.9% | 14.3% | -43.2% |
| 2023 | $698M | $169M | $37M | $83M | 6.0% | -57.8% | -56.2% |
| 2022 | $1.7B | $154M | $84M | $239M | 11.5% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,655.04 | 698.42 | 798.04 | 906.98 |
| Operating Revenue | - | 1,655.04 | 698.42 | 798.04 | 906.98 |
| Cost Of Revenue | - | 997.48 | 61.81 | 70.35 | 65.47 |
| Gross Profit | - | 657.55 | 636.61 | 727.70 | 841.51 |
| Operating Expense | - | 549.08 | 516.28 | 558.79 | 596.57 |
| Research And Development | - | 123.77 | 136.76 | 139.01 | 138.28 |
| Selling General And Administration | - | 409.82 | 372.79 | 410.66 | 442.29 |
| Total Expenses | - | 1,546.56 | 578.09 | 629.14 | 662.04 |
| Operating Income | - | 108.48 | 120.33 | 168.90 | 244.94 |
| Total Operating Income As Reported | - | 108.48 | 120.33 | 157.15 | 244.44 |
| EBITDA | - | 153.81 | 168.80 | 194.26 | 273.29 |
| Normalized EBITDA | - | 153.81 | 168.80 | 206.02 | 273.79 |
| EBIT | - | 108.48 | 120.33 | 168.90 | 244.94 |
| Interest Income | - | 3.84 | 18.44 | 12.20 | 9.15 |
| Net Interest Income | - | 3.84 | 18.44 | 12.20 | 9.15 |
| Other Non Operating Income Expenses | - | -0.96 | 0.36 | -0.96 | -0.76 |
| Other Income Expense | - | -0.96 | 0.36 | -12.71 | -1.26 |
| Interest Income Non Operating | - | 3.84 | 18.44 | 12.20 | 9.15 |
| Net Non Operating Interest Income Expense | - | 3.84 | 18.44 | 12.20 | 9.15 |
| Pretax Income | - | 111.36 | 139.13 | 168.39 | 252.83 |
| Tax Provision | - | 32.41 | 46.69 | 39.65 | 56.09 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -2.76 | -0.11 |
| Net Income Continuous Operations | - | 78.95 | 92.44 | 128.74 | 196.74 |
| Net Income From Continuing And Discontinued Operation | - | 84.39 | 36.94 | 20.97 | 155.90 |
| Net Income From Continuing Operation Net Minority Interest | - | 84.39 | 107.32 | 128.74 | 196.74 |
| Net Income | - | 84.39 | 36.94 | 20.97 | 155.90 |
| Net Income Common Stockholders | - | 193.78 | 31.10 | 20.97 | 155.90 |
| Net Income Including Noncontrolling Interests | - | 78.95 | 22.05 | 20.97 | 155.90 |
| Normalized Income | - | 84.39 | 107.32 | 137.73 | 197.13 |
| Diluted NI Availto Com Stockholders | - | 78.95 | 22.05 | 20.97 | 155.90 |
| Basic Average Shares | - | 118.47 | 113.24 | 104.54 | 98.84 |
| Diluted Average Shares | - | 128.15 | 114.19 | 106.26 | 100.41 |
| Reconciled Depreciation | - | 45.33 | 48.47 | 25.36 | 28.35 |
| Reconciled Cost Of Revenue | - | 967.63 | 20.07 | 54.10 | 53.12 |
| Total Unusual Items | - | 0 | 0 | -11.76 | -0.50 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | -11.76 | -0.50 |
| Preferred Stock Dividends | - | - | 5.84 | - | - |
| Minority Interests | - | 5.43 | 14.89 | 0 | 0 |
| Net Income Discontinuous Operations | - | - | -70.38 | -107.76 | -40.84 |
| Special Income Charges | - | 0 | 0 | -11.76 | -0.50 |
| Write Off | - | 0 | 0 | 11.76 | 0.50 |
| Depreciation Amortization Depletion Income Statement | - | 15.48 | 6.74 | 9.12 | 15.99 |
| Depreciation And Amortization In Income Statement | - | 15.48 | 6.74 | 9.12 | 15.99 |
| General And Administrative Expense | - | 73.12 | 94.96 | 103.22 | 101.42 |
| Other Gand A | - | 73.12 | 94.96 | 103.22 | 101.42 |
| Other Operating Expenses | - | 123.77 | 136.76 | 139.01 | 138.28 |
| Selling And Marketing Expense | - | 336.71 | 277.83 | 307.44 | 340.87 |
| Otherunder Preferred Stock Dividend | 109.40 | -109.40 | 0 | 0 | - |
| Average Dilution Earnings | - | -114.83 | -9.05 | 0 | 0 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| CarGurus, Inc.this co. | CARG | $2.5B | 15.83 | 6.60 | 41.7% | 9.03 |
| Sonic Automotive, Inc. | SAH | $2.7B | 22.45 | 2.49 | 11.1% | 13.11 |
| PENN Entertainment, Inc. | PENN | $2.6B | -3.12 | 1.43 | -46.0% | 412.90 |
| OneSpaWorld Holdings Limited | OSW | $2.4B | 34.02 | 4.49 | 13.2% | 23.48 |
| Under Armour, Inc. | UAA | $2.4B | -4.80 |
| - |
| - |
| - |
| - |
| 1.68 |
| -35.0% |
| 54.01 |
| Mister Car Wash, Inc. | MCW | $2.3B | 22.65 | 2.06 | 9.1% | 14.16 |
| LCI Industries | LCII | $2.3B | 12.39 | 1.71 | 13.8% | 8.12 |
| Under Armour, Inc. | UA | $2.3B | -4.65 | 1.63 | -35.0% | 53.04 |
| Shake Shack Inc. | SHAK | $2.3B | 49.93 | 4.35 | 8.7% | 15.39 |
| Peer Median | - | 17.42 | 1.89 | 8.9% | 19.43 | |