CARG CarGurus margins

Relative Growth: Rel. Growth: 85

Relative Strength: Rel. Strength: 43

Relative Valuation: Rel. Valuation: 75

Relative Profitability: Rel. Profitability: 98

Gross margin

94.8%

Operating margin

29.4%

EBITDA margin

28.7%

Net margin

18.7%

Using the latest TTM figures, CarGurus shows a gross margin of 94.8%, an operating margin of 29.4%, an EBITDA margin of 28.7%, and a net margin of 18.7%. Net margin headed the available margin improvements with a 2.4 percentage-point increase, while operating margin dropped by 12.7 percentage points.

CARG margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, CarGurus recorded average margins of 96.18% gross, 23.62% operating, 19.05% EBITDA, and 8.5% 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 2.4 percentage points, whereas gross margin contracted by 2.3 percentage points, operating margin by 12.7 percentage points, and EBITDA margin by 0.6 percentage points.

Gross margin expansion

-2.3pp

Operating margin expansion

-12.7pp

EBITDA margin expansion

-0.6pp

Net margin expansion

2.4pp

CARG Gross margin

Over the last 3 years, CarGurus's gross margin averaged 96.18%. As of the latest period, CarGurus's current gross margin is 94.8%, which is 1.4 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 23.62% across the last 3 years. CarGurus's current operating margin is 29.4% and is 5.8 percentage points above its three-year average. The highest operating margin for CarGurus was 45.1% in Sep 2025, while the lowest was 3.2% in Jun 2024.

CARG EBITDA margin

CarGurus's EBITDA margin averaged 19.05% during the last 3 years. The latest EBITDA margin for CarGurus is 28.7%, 9.7 percentage points above its three-year average. Over the last 3 years, CarGurus's EBITDA margin peaked at 32.6% in Sep 2025 and reached a low of 0.9% in Sep 2024.

CARG Net margin

CarGurus's net margin averaged 8.5% during the last 3 years. Compared with its three-year average, CarGurus's current net margin is 18.7% and is 10.2 percentage points above its three-year average. Over the last 3 years, CarGurus's net margin peaked at 18.9% in Sep 2025 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 94.8%, CARG stands above the Consumer Cyclical sector and the industry average. In comparison with its Consumer Cyclical sector average of 36.2%, CarGurus's gross margin is 162% 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 94.8% as of Jun 30, 2026.

What is CarGurus's operating margin?

As of Jun 30, 2026, CARG has an operating margin of 29.4%.

What is CarGurus's EBITDA margin?

As of Jun 30, 2026, CARG has an EBITDA margin of 28.7%.

What is CarGurus's net margin?

For the period ending Jun 30, 2026, CARG recorded a net margin of 18.7%.

What are the average margins of CARG?

Across the last 3 years, CARG averaged 96.2% gross, 23.6% operating, 19.1% EBITDA, and 8.5% 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, 45.1% operating in Sep 2025, 32.6% EBITDA in Sep 2025, and 18.9% net in Sep 2025.

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.