CARGCarGurus, Inc.
Services-Computer Processing & Data Preparation
- Revenue
- $907M
- 14% YoY
- Operating margin
- 27.0%
- 37% YoY
- EBITDA
- $273M
- 49% YoY
- Market cap
- $3.0B
- Employees
- 1,218
- $745K revenue each
- Net debt / EBITDA
- -0.4×
- −$122M net debt
- AI in 10-K
- 6.8
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 of 7
- TSR below peersNo0 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$6M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo189% of net incomeCash flow under 80% of net income
- Dilutive SBCNo6% of revenueOver 10% of revenue
- Payouts exceed cash flowYes119% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo5% of assetsOver 40% of assets
- Shareholder dissentNo85% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$745K · 70th pctBottom quartile of its SIC industry
- Quiet on AINo6.8 per 10K words · 87th pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 0.4× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedYes$3.0B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$7M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $951M | $1.7B | $698M | $798M | $907M | 14% |
| Operating income | $148M | $108M | $120M | $157M | $244M | 56% |
| Net income | $110M | $79M | $22M | $21M | $156M | 643% |
| Operating cash flow | $98M | $256M | $125M | $255M | $295M | 16% |
| Capex | $8M | $6M | $25M | $75M | $6M | 92% |
| Stock-based comp | $54M | $55M | $64M | $62M | $50M | 19% |
| Buybacks | — | $14M | $209M | $146M | $352M | 141% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $1M · 1
- Open-market sells, 12 mo
- $8M · 38
- Net
- −$7M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $8M | $9M | 121 | 51 |
| FY2024 | $8M | $12M | 115 | 57 |
| FY2023 | $4M | $7M | 76 | 52 |
| FY2022 | $2M | −$6M | 44 | 43 |
| FY2021 | — | — | 106 | 87 |