CarGurus (CARG) FY2019 results: revenue $589 million, up 29.7% on the year
CarGurus, Inc. (CARG) reported revenue of $589 million for fiscal 2019, the year ended 31 December 2019, up 29.7% on the year before. Net income was $42 million, down 35.3%, and diluted earnings per share $0.37. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2020.
Revenue
$589 million
+29.7% on the year
FY2015FY2019
Operating margin
5.8%
5.1% a year earlier
FY2015FY2019
Net income
$42 million
-35.3% on the year
FY2015FY2019
Diluted EPS
$0.37
-35.1% on the year
FY2015FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
589
454
317
+29.7%
Cost of revenue
36.3
24.8
17.6
+46.3%
Gross profit
553
429
299
+28.7%
Gross margin
93.8%
94.5%
94.4%
Research and development
69.5
47.9
22.5
+45.1%
Operating income
34.3
23.2
15.3
+48.0%
Operating margin
5.8%
5.1%
4.8%
Interest expense
n/a
n/a
0.0
Pre-tax income
38.7
25.5
15.8
+51.9%
Income tax
-3.4
-39.7
2.6
Effective tax rate
-8.9%
-155.7%
16.7%
Net income
42.1
65.2
13.2
-35.3%
Net margin
7.2%
14.4%
4.2%
Diluted EPS
$0.37
$0.57
$0.12
-35.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
70.1
51.7
25.7
+35.6%
Capital expenditure
11.2
6.0
5.2
+88.1%
Free cash flow
58.9
45.8
20.5
+28.7%
Free cash flow margin
10.0%
10.1%
6.5%
Cash from investing
-22.3
-80.3
-12.6
Cash from financing
-14.7
-23.4
44.8
Depreciation and amortisation
7.8
5.0
3.8
+55.4%
Share-based compensation
34.3
20.8
5.0
+65.0%
Diluted shares, weighted
113m
113m
61m
+0.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
257
194
127
+32.3%
Redeemable equity
0.0
n/a
n/a
Debt
0.0
0.0
0.0
Operating lease liabilities
60.8
9.4
n/a
+547.3%
Other liabilities
76.0
64.8
49.6
+17.2%
Total liabilities and equity
394
268
177
+46.7%
Fixed assets
27.9
24.3
16.6
+15.2%
Goodwill
15.2
n/a
n/a
Intangible assets
3.9
n/a
n/a
Investments
n/a
n/a
50.0
Securities held for sale or to maturity
112
123
n/a
-9.0%
Cash and equivalents
59.9
34.9
87.7
+71.8%
Receivables
22.1
13.6
12.6
+62.5%
Other assets
153
72.7
9.7
+110.1%
Total assets
394
268
177
+46.7%
10-K for the year ended 31 December 2019, filed 14 February 2020: the filing.