CarGurus (CARG) FY2020 results: revenue $551 million, down 6.4% on the year
CarGurus, Inc. (CARG) reported revenue of $551 million for fiscal 2020, the year ended 31 December 2020, down 6.4% on the year before. Net income was $78 million, up 84.0%, and diluted earnings per share $0.68. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2021.
Revenue
$551 million
-6.4% on the year
FY2015FY2020
Operating margin
17.7%
5.8% a year earlier
FY2015FY2020
Net income
$78 million
+84.0% on the year
FY2015FY2020
Diluted EPS
$0.68
+83.8% on the year
FY2015FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
551
589
454
-6.4%
Cost of revenue
42.7
36.3
24.8
+17.6%
Gross profit
509
553
429
-7.9%
Gross margin
92.3%
93.8%
94.5%
Research and development
85.7
69.5
47.9
+23.4%
Operating income
97.8
34.3
23.2
+184.8%
Operating margin
17.7%
5.8%
5.1%
Pre-tax income
99.1
38.7
25.5
+156.1%
Income tax
21.6
-3.4
-39.7
Effective tax rate
21.8%
-8.9%
-155.7%
Net income
77.6
42.1
65.2
+84.0%
Net margin
14.1%
7.2%
14.4%
Diluted EPS
$0.68
$0.37
$0.57
+83.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
157
70.1
51.7
+123.5%
Capital expenditure
3.0
11.2
6.0
-73.7%
Free cash flow
154
58.9
45.8
+161.1%
Free cash flow margin
27.9%
10.0%
10.1%
Cash from investing
-16.9
-22.3
-80.3
Cash from financing
-10.1
-14.7
-23.4
Depreciation and amortisation
10.2
7.8
5.0
+30.4%
Share-based compensation
45.1
34.3
20.8
+31.5%
Diluted shares, weighted
114m
113m
113m
+0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
374
257
194
+45.4%
Redeemable equity
0.0
0.0
n/a
Debt
0.0
0.0
0.0
Operating lease liabilities
58.8
60.8
9.4
-3.3%
Other liabilities
69.9
76.0
64.8
-8.0%
Total liabilities and equity
502
394
268
+27.6%
Fixed assets
27.5
27.9
24.3
-1.7%
Goodwill
29.1
15.2
n/a
+91.5%
Intangible assets
10.9
3.9
n/a
+177.1%
Securities held for sale or to maturity
n/a
112
123
Cash and equivalents
190
59.9
34.9
+217.6%
Receivables
18.2
22.1
13.6
-17.6%
Other assets
226
153
72.7
+48.1%
Total assets
502
394
268
+27.6%
10-K for the year ended 31 December 2020, filed 12 February 2021: the filing.