CARG CarGurus margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 97

Gross margin

95.3%

Operating margin

30.2%

EBITDA margin

29.6%

Net margin

19.1%

Using the latest TTM figures, CarGurus shows a gross margin of 95.3%, an operating margin of 30.2%, an EBITDA margin of 29.6%, and a net margin of 19.1%. Net margin headed the available margin improvements with a 0.1 percentage-point increase, while operating margin dropped by 16.5 percentage points.

CARG margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, CarGurus recorded average margins of 96.33% gross, 24.5% operating, 20.05% EBITDA, and 9.41% net. CarGurus's current performance shows that operating, EBITDA, and net margins are above their three-year averages and gross margin is below its three-year average.

CARG margin expansion

Year-over-year margin changes in percentage points

The strongest improvement was in net margin, which increased by 0.1 percentage points, whereas gross margin contracted by 5.8 percentage points, operating margin by 16.5 percentage points, and EBITDA margin by 3.6 percentage points.

Gross margin expansion

-5.8pp

Operating margin expansion

-16.5pp

EBITDA margin expansion

-3.6pp

Net margin expansion

0.1pp

CARG Gross margin

Over the last 3 years, CarGurus's gross margin averaged 96.33%. As of the latest period, CarGurus's current gross margin is 95.3%, which is 1 percentage points below its three-year average. During this period, gross margin reached a high of 103% in Sep 2024 and a low of 91.2% in Dec 2023.

CARG Operating margin

CarGurus recorded an average operating margin of 24.5% across the last 3 years. CarGurus's current operating margin is 30.2% and is 5.7 percentage points above its three-year average. The highest operating margin for CarGurus was 46.7% in Sep 2025, while the lowest was 3.2% in Jun 2024.

CARG EBITDA margin

CarGurus's EBITDA margin averaged 20.05% during the last 3 years. The latest EBITDA margin for CarGurus is 29.6%, 9.6 percentage points above its three-year average. Over the last 3 years, CarGurus's EBITDA margin peaked at 33.2% in Sep 2025 and reached a low of 0.9% in Sep 2024.

CARG Net margin

CarGurus's net margin averaged 9.41% during the last 3 years. Compared with its three-year average, CarGurus's current net margin is 19.1% and is 9.7 percentage points above its three-year average. Over the last 3 years, CarGurus's net margin peaked at 19.1% in Sep 2026 and reached a low of -6.5% in Jun 2024.

CARG margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 95.3%, CARG stands above the Consumer Cyclical sector and the industry average. In comparison with its Consumer Cyclical sector average of 36.3%, CarGurus's gross margin is 163% higher.

CARG margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is CarGurus's gross margin?

The current gross margin for CARG is 95.3% as of Sep 30, 2026.

What is CarGurus's operating margin?

As of Sep 30, 2026, CARG has an operating margin of 30.2%.

What is CarGurus's EBITDA margin?

As of Sep 30, 2026, CARG has an EBITDA margin of 29.6%.

What is CarGurus's net margin?

For the period ending Sep 30, 2026, CARG recorded a net margin of 19.1%.

What are the average margins of CARG?

Across the last 3 years, CARG averaged 96.3% gross, 24.5% operating, 20.1% EBITDA, and 9.4% net.

What are the highest historical margins of CARG?

Within the 5-year period, CARG recorded its highest margins at 103% gross in Sep 2024, 46.7% operating in Sep 2025, 33.2% EBITDA in Sep 2025, and 19.1% net in Sep 2026.

What are the lowest historical margins of CARG?

Across the 5-year period, CARG posted its lowest margins at 39.7% gross in Dec 2022, 3.2% operating in Jun 2024, 0.9% EBITDA in Sep 2024, and -6.5% net in Jun 2024.