Discounted Cash Flow

Cargurus, Inc.

CARG · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $198.1m $6.5m $14.2m 3.3% $-0.58
2017 $316.9m (59.9%) $13.2m (103.2%) $20.5m (45.0%) 4.2% (27.0%) $0.13 (122.4%)
2018 $454.1m (43.3%) $65.2m (393.7%) $45.8m (122.9%) 14.4% (244.5%) $0.60 (361.5%)
2019 $588.9m (29.7%) $42.1m (-35.3%) $58.9m (28.7%) 7.2% (-50.1%) $0.38 (-36.7%)
2020 $551.5m (-6.4%) $77.6m (84.0%) $153.8m (161.1%) 14.1% (96.5%) $0.69 (81.6%)
2021 $951.4m (72.5%) $109.2m (40.9%) $90.6m (-41.1%) 11.5% (-18.4%) $0.00 (-100.0%)
2022 $1.7b (74.0%) $84.4m (-22.8%) $250.2m (176.2%) 5.1% (-55.6%) $1.64
2023 $914.2m (-44.8%) $36.9m (-56.2%) $100.0m (-60.0%) 4.0% (-20.8%) $0.27 (-83.5%)
2024 $894.4m (-2.2%) $21.0m (-43.2%) $180.3m (80.4%) 2.3% (-42.0%) $0.20 (-25.9%)
2025 $907.0m (1.4%) $155.9m (643.4%) $288.9m (60.2%) 17.2% (633.1%) $1.58 (690.0%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model