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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
CarGurus, Inc., established in Boston, Massachusetts, in 2005, manages a prominent online ecosystem for vehicle transactions, serving both buyers and sellers across the United States and internationally. The company's operations are divided into two main segments: the U. S.
How they make money
CarGurus operates a multinational online automotive marketplace that connects consumers with vehicle dealers. The company generates revenue primarily through subscription-based marketplace services for dealers, advertising solutions, and data-driven software products that assist dealers with inventory pricing, marketing, and sales conversion.
Products & services
Online automotive marketplace platform, dealer software solutions for inventory management and pricing, and consumer-facing tools for vehicle research, buying, and selling.
Separate brand revenue is not available in this research.Source
PistonHeads
Online motoring community and marketplace in the U.K.
Separate brand revenue is not available in this research.Source
Autolist
U.S.-based online automotive marketplace.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Overall investment score · Quality, value, risk and opportunity
47
Weak
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
82
Strong
Financial Strength
91
Business Quality / Moat
91
Management
100
Growth Quality
25
Risk / Durability
80
Great Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
34
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
46/100
Building Historical Record
Model Score 46/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
What we like
•Balance-sheet / debt profile scores strongly
•Recent buyback activity is present
What to watch
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Asset quality is a weaker factor
Company-specific research
Questions worth answering for CARG
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can CARG maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•Is CARG's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•Does CARG's balance between cash and debt leave enough flexibility if business conditions weaken?
•What future growth or profitability would be needed to justify CARG's current valuation?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for CARG
Detected from reported data — verify before acting.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on CARG.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Internet Content & Information industry.
−Dependence on dealer advertising spend and market conditions.
−Risks associated with debt obligations and potential acceleration.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Weak47/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Elite
91
Debt Cost0.3%
Debt Reduction YoY1.0%
Debt / Equity0.51x
Tap for breakdown →
Revenue
Poor
21
Revenue YoY3.8%
Revenue CAGR1.3%
Net Margin18.1%
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Asset
Poor
19
Asset Growth YoY-19.7%
Liquidation/Share$2.73
Net Assets/MCap0.12x
Tap for breakdown →
Capital
Strong
81
Earnings Yield5.8%
Buyback Yield6.0%
Debt Cost0.3%
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Management
Elite
100
ROIC46.8%
ROE66.6%
ROA31.7%
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Moat
Elite
91
EPS Growth181.8%
FCF/Share Growth36.7%
Rev/Share Growth10.3%
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Valuation
Poor
22
Intrinsic Value$15.90
Value Reference$9.54
MOS-99.2%
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Buffett
Fair
61
Revenue21
Moat91
Valuation22
Tap for breakdown →
MOS
Poor
0
MOS %-99.2%
Value Reference$9.54
Deep Discount Reference$6.36
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Financial
Poor
20
Interest Coverage329.5x
ROIC46.8%
FCF Yield9.6%
Tap for breakdown →
Master
Poor
33
Financial20
Valuation22
Debt91
Tap for breakdown →
Resilience
Fair
68
Survival Years0.5 yrs
Current Ratio2.81x
FCF Margin30.8%
Tap for breakdown →
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Score Changes
5 historical score records available
Previous Score
46
Sep 9, 2026
Change
+0.3
points
Current Score
47
Oct 1, 2026
Category Changes
Revenue+0.4
Debt0
Assets+0.2
Capital+3.0
Management0
Moat0
Valuation0
Buffett+0.1
CARG increased 0.3 points because Capital improved by 3 points.
Positive Contributors
+ Capital improved by 3 points
Projected Score
Projected Score
52
Projected Change
+5.1 points
Preliminary comparable-period financial changes suggest improvement of approximately 5.1 points. This is a projected estimate, not the official WallStreetScore.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$974.3M
$939.0M
$894.4M
$914.2M
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····
····
····
····
····
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Cost of Revenue
$87.1M
$103.4M
$155.4M
$262.8M
····
····
····
····
····
····
····
Gross Profit
$887.2M
$835.5M
$738.9M
$651.5M
····
····
····
····
····
····
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Research & Development
$160.9M
$155.7M
$144.4M
$146.2M
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····
····
····
····
····
····
SG&A Expenses
$467.2M
$442.3M
$434.3M
$456.8M
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····
····
····
····
····
····
Operating Expenses
$641.4M
$641.1M
$725.5M
$618.8M
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····
····
····
····
····
····
EBITDA
$277.6M
$235.1M
$173.3M
$100.2M
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····
····
····
····
····
····
Operating Income
$246.1M
$194.4M
$13.4M
$32.6M
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····
····
····
····
····
····
Interest Expense
$0.00
$0.00
$0.00
$0.00
····
····
····
····
····
····
····
Income Before Tax
$231.5M
$202.8M
$24.7M
$51.7M
····
····
····
····
····
····
····
Income Tax Expense
$51.6M
$43.0M
$3.7M
$29.6M
····
····
····
····
····
····
····
Net Income
$175.9M
$155.9M
$21.0M
$31.1M
····
····
····
····
····
····
····
Basic EPS
$1.87
$1.59
$0.20
$0.19
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····
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Basic Shares
90.13M
95.29M
105M
113M
····
····
····
····
····
····
····
Diluted Shares
91.08M
96.76M
106M
114M
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····
····
····
····
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····
Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Margins expanded
Debt reduced
What Weakened
Cash position declined
Potential Score Impact
Positive indicators included revenue growth, EPS growth, debt levels, net income margin. Pressure indicators included cash levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 7.2%. EPS increased 145.5%. Cash declined 47.2%. Total debt declined 5.2%. Net income margin improved by 10.1 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Upgrade to Premium to unlock all earnings history.View plans
Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.