CarGurus
CARG on Nasdaq. Computer processing & data preparation. Market value $1.7bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Worth a closer look
Why it could be worth it
What to watch out for
Nothing stood out in the numbers we check.
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $9.88 of spare cash in the past 12 months. A savings account pays about $4.
You pay 12.0 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 41 cents a year. Above 10 is good.
Quality score: 100 of 100. Price score: 99 of 100. Our list needs 70 on quality and 60 on price.
$29.35 a share, 11% above its 1-year low
Over the past year the price has ranged from $26.39 to $41.22.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $951m | $1.7bn | $698m | $798m | $907m |
| Operating margin | |||||
| Operating margin | 15.6% | 6.6% | 17.2% | 19.7% | 27.0% |
| Debt to equity | |||||
| Debt to equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Shares outstanding | |||||
| Shares outstanding | 0.12bn | 0.13bn | 0.11bn | 0.11bn | 0.10bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)6 of 8 checks we could run
- Profit backed by cash (accruals)No
- Debt0.00× equity
- Revenue growth, five yearsStrong, 10.5% a year
- Buying back its own sharesYes, 14% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $251 million last quarter, up 13% on a year ago.
- Profit: $49 million, up 120% on a year ago.
- It keeps 24 cents of each $1 of sales as operating profit, down from 42 cents a year earlier.
- Spare cash over the past 12 months: $291 million, up from $229 million.
- 9% fewer shares than a year ago. Each share owns a bit more of the company.
- It has $122 million more cash than debt, down from $231 million a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $205m |
| December 2024 | $210m |
| March 2025 | $212m |
| June 2025 | $222m |
| September 2025 | $232m |
| December 2025 | $241m |
| March 2026 | $244m |
| June 2026 | $251m |
| Quarter to | Amount |
|---|---|
| September 2024 | $23m |
| December 2024 | $46m |
| March 2025 | $39m |
| June 2025 | $22m |
| September 2025 | $45m |
| December 2025 | $50m |
| March 2026 | $32m |
| June 2026 | $49m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 19 February 2026
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
7 long-term investors we follow own it, up from 5 last quarter. 369 funds in all.
- Gotham Asset ManagementJoel Greenblatt
- Value
- $2m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Orbis Investment ManagementOrbis team (Allan Gray lineage) | $82m | 0.3% | Added |
| Boston PartnersBoston Partners team | $58m | <0.1% | Added |
| Select Equity GroupGeorge Loening | $21m | 0.1% | Added |
| LSV Asset ManagementJosef Lakonishok | $12m | <0.1% | Added |
| Gotham Asset ManagementJoel Greenblatt | $2m | <0.1% | |
| Scharf InvestmentsBrian Krawez | $404,580 | <0.1% | New |
| GMOJeremy Grantham | $212,176 | <0.1% | New |
Largest holders overall
- BlackRock$402m
- Vanguard Portfolio Management$161m
- Vanguard Capital Management$113mCut
- Wellington Management Group LLP$111mCut
- Manufacturers Life Insurance Company, the$106mAdded
- State Street$103mCut
- Prevatt Capital$88mAdded
- Orbis Investment Management$82mAdded
- Geode Capital Management$71m
- Congress Asset Management$67mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
6 investors own more than 5%.
- BlackRock, Inc.Passive investor14.3%Since 30 June 2025
- Langley SteinertPassive investor13.1%−0.6 ptsSince 30 June 2025
- Wellington Management Company LLPPassive investor6.2%−3.4 ptsSince 31 March 2026
- Vanguard Portfolio ManagementPassive investor5.8%Since 31 March 2026
- Vanguard Capital ManagementPassive investor5.1%Since 31 March 2026
- Wellington Management Group LLPPassive investorat least 4.3%−3.0 pts(filed with 2 related holders)Since 30 June 2026
- ArrowMark Colorado Holdings, LLCPassive investorSold down below 5%Since 30 June 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 14.3% | 30 June 2025 | |
Langley Steinert Passive investor | 13.1%−0.6 pts | 30 June 2025 | |
Wellington Management Company LLP Passive investor | 6.2%−3.4 pts | 31 March 2026 | |
Vanguard Portfolio Management Passive investor | 5.8% | 31 March 2026 | |
Vanguard Capital Management Passive investor | 5.1% | 31 March 2026 | |
Wellington Management Group LLP Passive investor | at least 4.3%−3.0 pts (filed with 2 related holders) | 30 June 2026 | |
ArrowMark Colorado Holdings, LLC Passive investor | Sold down below 5% | 30 June 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $999,899 of shares on the open market. 8 sold $8m, $7m of it under preset trading plans.
- Zales SamuelCOO and PresidentSoldunder a preset trading plan
- Date
- 15 September 2026
- Shares
- 10,000
- Price
- $34.62
- Value
- $346,200
- Zales SamuelCOO and PresidentSoldunder a preset trading plan
- Date
- 28 August 2026
- Shares
- 10,000
- Price
- $36.50
- Value
- $365,000
- Elshareef IsmailChief Product OfficerSoldunder a preset trading plan
- Date
- 14 August 2026
- Shares
- 8,957
- Price
- $38.00
- Value
- $340,366
- Sarnoff DafnaChief Marketing OfficerSoldunder a preset trading plan
- Date
- 13 August 2026
- Shares
- 17,151
- Price
- $37.00
- Value
- $634,587
- Schwartz Greg MDirectorSold
- Date
- 12 August 2026
- Shares
- 10,000
- Price
- $36.07
- Value
- $360,700
- Trevisan JasonChief Executive Officer, DirectorSoldunder a preset trading plan
- Date
- 7 August 2026
- Shares
- 1,100
- Price
- $41.06
- Value
- $45,166
- Zamora JavierGeneral Counsel and SecretarySoldunder a preset trading plan
- Date
- 3 August 2026
- Shares
- 6,205
- Price
- $37.08
- Value
- $230,081
- Zamora JavierGeneral Counsel and SecretarySoldunder a preset trading plan
- Date
- 2 July 2026
- Shares
- 3,533
- Price
- $36.06
- Value
- $127,400
- Quinn Matthew ToddChief Technology OfficerSoldunder a preset trading plan
- Date
- 2 July 2026
- Shares
- 3,824
- Price
- $35.03
- Value
- $133,955
- Hanson Jennifer LaddChief People OfficerSoldunder a preset trading plan
- Date
- 2 July 2026
- Shares
- 567
- Price
- $35.03
- Value
- $19,862
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 15 September 2026 | Zales Samuel COO and President | Sold under a preset trading plan | 10,000 | $34.62 | $346,200 |
| 28 August 2026 | Zales Samuel COO and President | Sold under a preset trading plan | 10,000 | $36.50 | $365,000 |
| 14 August 2026 | Elshareef Ismail Chief Product Officer | Sold under a preset trading plan | 8,957 | $38.00 | $340,366 |
| 13 August 2026 | Sarnoff Dafna Chief Marketing Officer | Sold under a preset trading plan | 17,151 | $37.00 | $634,587 |
| 12 August 2026 | Schwartz Greg M Director | Sold | 10,000 | $36.07 | $360,700 |
| 7 August 2026 | Trevisan Jason Chief Executive Officer, Director | Sold under a preset trading plan | 1,100 | $41.06 | $45,166 |
| 3 August 2026 | Zamora Javier General Counsel and Secretary | Sold under a preset trading plan | 6,205 | $37.08 | $230,081 |
| 2 July 2026 | Zamora Javier General Counsel and Secretary | Sold under a preset trading plan | 3,533 | $36.06 | $127,400 |
| 2 July 2026 | Quinn Matthew Todd Chief Technology Officer | Sold under a preset trading plan | 3,824 | $35.03 | $133,955 |
| 2 July 2026 | Hanson Jennifer Ladd Chief People Officer | Sold under a preset trading plan | 567 | $35.03 | $19,862 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 19 Feb 2026, plus the 10-Q filed 6 Aug 2026 and 4 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.