analyzeportfolio
Nasdaq · Technology

CarGurus, Inc. (CARG)

As-reported financials and SEC filings for CarGurus, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About CarGurus, Inc.

CarGurus, Inc. operates a multinational automotive platform that connects consumers and dealers to facilitate buying and selling vehicles. The company offers a marketplace with extensive vehicle listings and dealer networks in the U.S., U.K., and Canada, providing tools such as AI-powered search, pricing algorithms, and digital purchase options to support consumers throughout the car-buying process. CarGurus also provides dealers with software solutions for inventory management, marketing, and sales conversion to help run their businesses more efficiently.

Snapshot

Revenue
$907.0M
Revenue growth (YoY)
13.7%
Net income
$155.9M
Diluted EPS
$1.55
Gross margin
Operating margin
27.0%
Net margin
17.2%
FCF margin
31.9%
ROE
41.7%
net income / fiscal-year-end equity
P/E
18.4×
trailing when available, otherwise FY EPS
Market cap
$3.10B
Long-term debt / equity
0.00×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at CarGurus

  • Revenue grew 13.7% to $907M in FY2025, in line with the 14.3% the year before.
  • Operating margin is 27.0% in FY2025, +11.4 pp against 15.6% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $251M, up 13.1% from Q2 FY2025.
  • Free cash flow was $289M in FY2025, 31.9% of revenue.
  • Net income rose 643.4% to $156M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where CarGurus’s fundamentals sit among the 332 software companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin27.0%
90th percentile of 303
Net margin17.2%
78th percentile of 307
FCF margin31.9%
90th percentile of 285
Revenue growth (YoY)+13.7%
57th percentile of 325
ROE41.7%
92nd percentile of 285
P/E18.4×
34th percentile of 169
Long-term debt / equity0.00×
1st percentile of 127
Short interest5.33d
74th percentile of 330

CarGurus’s long-term debt to equity of 0.00 ranks in the 1st percentile of the 127 software companies reporting it. CarGurus’s return on equity of 41.7% ranks in the 92nd percentile of the 285 software companies reporting it. CarGurus’s operating margin of 27.0% ranks in the 90th percentile of the 303 software companies reporting it.

No reported insider purchases (code P) in the last 90 days; 13 insider sales totaling $2.6M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+7 quant / multi-strat
Initiated / added
6
1 new, 5 added
Reduced / exited
3
3 trimmed, 0 exited
Combined position
$68.0M
reported long value
InvestorAs ofPosition valueSharesChange
Renaissance TechnologiesquantQ2 2026$23.0M673.8KAdded
Millennium ManagementquantQ2 2026$21.1M620.4KAdded
Citadel AdvisorsquantQ2 2026$14.5M426.6KAdded
Point72 Asset ManagementquantQ2 2026$2.9M84.6KReduced
Gotham Asset ManagementQ2 2026$2.2M64.0KAdded
Two Sigma InvestmentsquantQ2 2026$2.0M59.0KAdded
AQR Capital ManagementquantQ2 2026$1.1M31.5KReduced
D. E. ShawquantQ2 2026$614,02918.0KNew
Bridgewater AssociatesQ2 2026$535,58815.7KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
13
$2.6M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-28
filed 2026-08-31
Zales SamuelCOO and PresidentSell10.0K$36.50$365K
2026-08-14
filed 2026-08-18
Elshareef IsmailChief Product OfficerSell9.0K$38.00$340K
2026-08-13
filed 2026-08-14
Sarnoff DafnaChief Marketing OfficerSell17.2K$37.00$635K
2026-08-12
filed 2026-08-14
Schwartz Greg MDirectorSell10.0K$36.07$361K
2026-08-07
filed 2026-08-11
Trevisan JasonChief Executive OfficerSell1.1K$41.06$45K
2026-08-03
filed 2026-08-04
Zamora JavierGeneral Counsel and SecretarySell6.2K$37.08$230K
2026-07-02
filed 2026-07-06
Quinn Matthew ToddChief Technology OfficerSell3.8K$35.03$134K
2026-07-02
filed 2026-07-06
Zamora JavierGeneral Counsel and SecretarySell3.5K$36.06$127K
2026-07-02
filed 2026-07-06
Hanson Jennifer LaddChief People OfficerSell567$35.03$20K
2026-07-01
filed 2026-07-02
Hanson Jennifer LaddChief People OfficerSell2.5K$34.56$86K
2026-06-29
filed 2026-07-01
Zamora JavierGeneral Counsel and SecretarySell3.5K$34.08$120K
2026-06-26
filed 2026-06-29
Zamora JavierGeneral Counsel and SecretarySell3.4K$32.61$110K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
5.6M
settled 2026-08-14
Change vs prior
-19.8%
vs previous settlement
Days to cover
5.33
at avg daily volume
Avg daily volume
1.0M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-145.6M-19.8%5.33
2026-07-317.0M-4.8%7.11
2026-07-157.3M-1.7%5.60
2026-06-307.4M-3.2%4.56
2026-06-157.7M+1.9%6.12
2026-05-297.5M+5.2%4.01
2026-05-157.2M-1.9%4.74
2026-04-307.3M+13.8%8.81

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$907.0M$798.0M$698.4M$1.66B$951.4M
Gross profit$727.7M$636.6M$657.6M$657.4M
Operating income$244.4M$157.1M$120.3M$108.5M$148.3M
Net income$155.9M$21.0M$36.9M$84.4M$109.2M
Diluted EPS$1.55$0.20$0.19$0.62$0.00

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$295.3M$255.5M$124.5M$256.1M$98.3M
Capital expenditure$6.4M$75.2M$24.6M$5.9M$7.7M
Free cash flow$288.9M$180.3M$100.0M$250.2M$90.6M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$251.0M13.1%$49.2M$0.54
Q1 FY2026$243.6M14.8%$32.2M$0.34
Q4 FY2025$209.1M58.2%$49.8M$0.51
Q3 FY2025$231.7M13.2%$44.7M$0.45
Q2 FY2025$222.0M13.4%$22.3M$0.22
Q1 FY2025$212.2M13.3%$39.0M$0.37
Q4 FY2024$132.2M1710.4%$45.9M$0.41
Q3 FY2024$204.6M-6.8%$22.5M$0.21

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorTechnology
SIC industryServices-Computer Processing & Data Preparation
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2020
SEC CIK1494259

Selected SEC filings

10-Q2026-08-06
View on EDGAR →
10-Q2026-05-07
View on EDGAR →
8-K2026-08-06
View on EDGAR →
8-K2026-06-04
View on EDGAR →
8-K2026-05-07
View on EDGAR →

Largest software peers

All software stocksAll Technology companies →

Monitor CARG

Get an alert when CarGurus files something material, see which superinvestors own it, and ask its filings a question with cited answers.

Monitor CARG free

Includes one free filing-grounded research answer. Or check your whole portfolio, no account needed.

Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.