CARG: Not rated
Published 16 Sep 2026, 17:07 BST. This is the frozen version, not the current recommendation.
Why this assessment was issued
First recorded assessment. Current data checks do not support an active rating.
A target is not published until the required checks pass. Recorded cash-flow, investment, debt, cash, preferred stock, minority interests and share-count inputs are required; missing amounts are not assumed to be zero. Missing: interest expense (trailing twelve months).
Supporting evidence
Year-to-date profit has improved
Across 2 completed quarters since 2025-12-31, net income was 81.4m versus 61.4m in the matching prior-year periods (USD). Check whether the latest quarter changes that direction.
More cash remains for each dollar of profit
Cash after capital spending / profit: 1.8× for CARG, against 0.5× across 11 comparable peers.
Opposing evidence
The profit margin narrowed
The latest quarterly operating margin was 25.1%, -2.2 percentage points from a year earlier. Compare the sales and margin contributions below.
Compare the stock with its market
Over one year, the stock changed -4.5% against +16.3% for US stocks (SPY). The gap is -20.7 percentage points. These are price returns, before dividends.
Original assumptions and checks
Recent price · Passed. Weekly close dated 2026-09-11.
Current financials · Passed. Statements through 2026-06-30; factor prices dated 2026-09-11.
Price risk · Passed. Risk uses the latest 52 weekly price changes.
Operating history · Passed. 5 annual results, retaining operating losses and unusually strong years.
Quarterly operating results · Passed. Four quarters through 2026-06-30.
Cash-flow and ownership inputs · Review needed. Recorded cash-flow, investment, debt, cash, preferred stock, minority interests and share-count inputs are required; missing amounts are not assumed to be zero. Missing: interest expense (trailing twelve months).
Depreciation basis · Passed. Four matching quarters of operating income and reported depreciation are required. An unrelated EBITDA-minus-EBIT difference is not treated as depreciation.
Matching currency · Passed. USD statements and share price.
Policy sm-review-2-research · Model sm-assessment-14-operating-capital · Data fe5f3fd0f3fa.