This page shows Cargurus (CARG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Cargurus has an operating margin of 27.0%, meaning the company retains $27 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 1.5% the prior year.
Cargurus's revenue declined 99.9% year-over-year, from $894.4M to $907K. This contraction results in a growth score of 0/100.
Cargurus carries a low D/E ratio of 0.77, meaning only $0.77 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 83/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.81, Cargurus holds $2.81 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 93/100.
Cargurus converts 31.9% of revenue into free cash flow ($289K). This strong cash generation earns a score of 100/100.
Cargurus earns a strong 41.7% return on equity (ROE), meaning it generates $42 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 3.9% the prior year.
Cargurus scores 5816.50, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.8B) relative to total liabilities ($288K). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Cargurus passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Cargurus generates $1.89 in operating cash flow ($295K OCF vs $156K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Cargurus generated $907K in revenue in fiscal year 2025. This represents a decrease of 99.9% from the prior year.
Cargurus's EBITDA was $273K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 99.3% from the prior year.
Cargurus generated $289K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 99.8% from the prior year.
Cargurus reported $156K in net income in fiscal year 2025. This represents a decrease of 99.3% from the prior year.
Cargurus earned $1.55 per diluted share (EPS) in fiscal year 2025. This represents an increase of 675.0% from the prior year.
Cargurus held $191K in cash against $0 in long-term debt as of fiscal year 2025.
Cargurus had 81M shares outstanding in fiscal year 2025.
Cargurus's gross margin was 92.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 10.2 percentage points from the prior year.
Cargurus's operating margin was 27.0% in fiscal year 2025, reflecting core business profitability. This is up 25.4 percentage points from the prior year.
Cargurus's net profit margin was 17.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 14.8 percentage points from the prior year.
Cargurus's ROE was 41.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 37.8 percentage points from the prior year.
Cargurus invested $138K in research and development in fiscal year 2025. This represents a decrease of 99.9% from the prior year.
Cargurus spent $352K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 99.8% from the prior year.
Cargurus invested $6K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
CARG Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $238.7M+2.0% | $234.0M+3.9% | $225.2M-1.5% | $228.5M+4.5% | $218.7M+1.3% | $215.8M-3.3% | $223.1M+1.7% | $219.4M |
| Cost of Revenue | $25.2M-15.1% | $29.7M+16.5% | $25.5M-13.9% | $29.5M-18.5% | $36.2M-11.2% | $40.8M-25.9% | $55.1M-0.1% | $55.1M |
| Gross Profit | $213.5M+4.5% | $204.4M+2.3% | $199.7M+0.4% | $199.0M+9.1% | $182.4M+4.3% | $175.0M+4.1% | $168.0M+2.3% | $164.3M |
| R&D Expenses | $36.3M+5.7% | $34.4M-5.2% | $36.3M+0.8% | $35.9M-1.7% | $36.6M+2.9% | $35.5M-3.2% | $36.7M+3.7% | $35.4M |
| SG&A Expenses | $28.5M+5.2% | $27.1M+1.1% | $26.8M-5.7% | $28.4M+3.5% | $27.4M-2.3% | $28.1M-62.9% | $75.7M+203.8% | $24.9M |
| Operating Income | $54.7M+120.1% | $24.8M-45.7% | $45.8M-14.1% | $53.3M+156.9% | -$93.6M-456.0% | $26.3M+218.1% | -$22.3M-196.4% | $23.1M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $11.8M+134.0% | $5.1M-46.7% | $9.5M+0.5% | $9.5M+143.6% | -$21.7M-358.9% | $8.4M+34.9% | $6.2M-25.0% | $8.3M |
| Net Income | $44.7M+100.1% | $22.3M-42.8% | $39.0M-14.9% | $45.9M+166.8% | -$68.7M-422.6% | $21.3M+219.0% | -$17.9M-180.3% | $22.3M |
| EPS (Diluted) | $0.45+104.5% | $0.22-40.5% | $0.37-17.8% | $0.45+168.2% | $-0.66-430.0% | $0.20+200.0% | $-0.20-217.6% | $0.17 |
CARG Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $660.5M-9.0% | $726.1M+5.4% | $689.1M-16.4% | $824.5M+9.5% | $753.3M-13.5% | $870.8M-5.2% | $918.9M-12.4% | $1.0B |
| Current Assets | $269.4M-12.8% | $309.0M+22.6% | $252.0M-35.6% | $391.2M+35.7% | $288.3M-11.0% | $323.8M-17.2% | $391.2M-26.9% | $535.4M |
| Cash & Equivalents | $178.8M-22.7% | $231.2M+33.8% | $172.9M-43.2% | $304.2M+40.7% | $216.2M-12.2% | $246.3M-15.5% | $291.4M-18.0% | $355.3M |
| Inventory | $0-100.0% | $963K+18.9% | $810K+139.6% | $338K-26.4% | $459K+17.4% | $391K+18.1% | $331K+2.5% | $323K |
| Accounts Receivable | $39.6M-3.5% | $41.0M+0.8% | $40.7M-8.0% | $44.2M+11.3% | $39.8M-10.3% | $44.3M+10.8% | $40.0M-13.3% | $46.1M |
| Goodwill | $28.4M+0.1% | $28.4M-39.3% | $46.7M+1.2% | $46.2M-0.9% | $46.6M-70.4% | $157.6M-0.2% | $157.9M+0.4% | $157.3M |
| Total Liabilities | $285.0M-1.9% | $290.6M+1.2% | $287.1M+1.5% | $282.8M-6.1% | $301.3M-0.4% | $302.4M+0.1% | $302.1M-1.0% | $305.2M |
| Current Liabilities | $93.9M-3.4% | $97.2M+2.8% | $94.5M+1.6% | $93.1M-16.9% | $112.0M-3.7% | $116.3M+1.0% | $115.2M+6.0% | $108.6M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Equity | $375.4M-13.8% | $435.5M+8.3% | $402.1M-25.8% | $541.7M+19.8% | $452.1M-20.5% | $568.4M-7.9% | $616.9M-14.0% | $717.0M |
| Retained Earnings | $367.2M-12.3% | $418.6M+5.6% | $396.5M+5.7% | $375.1M+22.3% | $306.7M-18.3% | $375.4M+6.0% | $354.1M-6.3% | $377.9M |
CARG Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $71.2M-2.7% | $73.1M+7.7% | $67.9M-10.4% | $75.7M+5.8% | $71.6M+37.8% | $52.0M+1981.9% | $2.5M-90.5% | $26.4M |
| Capital Expenditures | $1.4M-14.0% | $1.6M-29.3% | $2.2M-78.1% | $10.2M-60.6% | $26.0M-9.4% | $28.7M+84.8% | $15.5M+223.7% | $4.8M |
| Free Cash Flow | $69.8M-2.4% | $71.5M+9.0% | $65.6M+0.2% | $65.5M+43.6% | $45.6M+95.8% | $23.3M+279.0% | -$13.0M-160.4% | $21.6M |
| Investing Cash Flow | -$7.2M+8.8% | -$7.8M-2.8% | -$7.6M+44.3% | -$13.7M+56.1% | -$31.2M-137.5% | -$13.1M-124.6% | $53.5M+600.4% | -$10.7M |
| Financing Cash Flow | -$118.5M-1207.4% | -$9.1M+95.3% | -$191.5M-4278.6% | -$4.4M+93.8% | -$70.9M+14.6% | -$83.0M+36.1% | -$130.0M-474.6% | -$22.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $110.3M+6095.4% | $1.8M-99.0% | $182.8M | $0-100.0% | $65.0M-16.0% | $77.4M-23.4% | $101.1M+533.9% | $16.0M |
CARG Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 89.5%+2.1pp | 87.3%-1.4pp | 88.7%+1.6pp | 87.1%+3.6pp | 83.4%+2.4pp | 81.1%+5.8pp | 75.3%+0.4pp | 74.9% |
| Operating Margin | 22.9%+12.3pp | 10.6%-9.7pp | 20.3%-3.0pp | 23.3%+66.1pp | -42.8%-55.0pp | 12.2%+22.2pp | -10.0%-20.5pp | 10.5% |
| Net Margin | 18.7%+9.2pp | 9.6%-7.8pp | 17.3%-2.7pp | 20.1%+51.5pp | -31.4%-41.3pp | 9.9%+17.9pp | -8.0%-18.2pp | 10.2% |
| Return on Equity | 11.9%+6.8pp | 5.1%-4.6pp | 9.7%+1.2pp | 8.5% | N/A | 3.8% | N/A | 3.1% |
| Return on Assets | 6.8%+3.7pp | 3.1%-2.6pp | 5.7%+0.1pp | 5.6%+14.7pp | -9.1%-11.6pp | 2.5%+4.4pp | -1.9%-4.1pp | 2.1% |
| Current Ratio | 2.87-0.3 | 3.18+0.5 | 2.67-1.5 | 4.20+1.6 | 2.57-0.2 | 2.78-0.6 | 3.40-1.5 | 4.93 |
| Debt-to-Equity | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.00 |
| FCF Margin | 29.2%-1.3pp | 30.6%+1.4pp | 29.1%+0.5pp | 28.7%+7.8pp | 20.9%+10.1pp | 10.8%+16.6pp | -5.8%-15.7pp | 9.8% |
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Frequently Asked Questions
What is Cargurus's annual revenue?
Cargurus (CARG) reported $907K in total revenue for fiscal year 2025. This represents a -99.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cargurus's revenue growing?
Cargurus (CARG) revenue declined by 99.9% year-over-year, from $894.4M to $907K in fiscal year 2025.
Is Cargurus profitable?
Yes, Cargurus (CARG) reported a net income of $156K in fiscal year 2025, with a net profit margin of 17.2%.
What is Cargurus's earnings per share (EPS)?
Cargurus (CARG) reported diluted earnings per share of $1.55 for fiscal year 2025. This represents a 675.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Cargurus's EBITDA?
Cargurus (CARG) had EBITDA of $273K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Cargurus's gross margin?
Cargurus (CARG) had a gross margin of 92.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Cargurus's operating margin?
Cargurus (CARG) had an operating margin of 27.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cargurus's net profit margin?
Cargurus (CARG) had a net profit margin of 17.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Cargurus's return on equity (ROE)?
Cargurus (CARG) has a return on equity of 41.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cargurus's free cash flow?
Cargurus (CARG) generated $289K in free cash flow during fiscal year 2025. This represents a -99.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Cargurus's operating cash flow?
Cargurus (CARG) generated $295K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cargurus's total assets?
Cargurus (CARG) had $662K in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cargurus's capital expenditures?
Cargurus (CARG) invested $6K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Cargurus spend on research and development?
Cargurus (CARG) invested $138K in research and development during fiscal year 2025.
Does Cargurus buy back shares?
Yes, Cargurus (CARG) spent $352K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Cargurus have outstanding?
Cargurus (CARG) had 81M shares outstanding as of fiscal year 2025.
What is Cargurus's current ratio?
Cargurus (CARG) had a current ratio of 2.81 as of fiscal year 2025, which is generally considered healthy.
What is Cargurus's debt-to-equity ratio?
Cargurus (CARG) had a debt-to-equity ratio of 0.77 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cargurus's return on assets (ROA)?
Cargurus (CARG) had a return on assets of 23.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cargurus's Altman Z-Score?
Cargurus (CARG) has an Altman Z-Score of 5816.50, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Cargurus's Piotroski F-Score?
Cargurus (CARG) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cargurus's earnings high quality?
Cargurus (CARG) has an earnings quality ratio of 1.89x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Cargurus?
Cargurus (CARG) scores 79 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.