CarGurus vs Cogent Communications
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The short version
- Cogent Communications is the larger business, with $976M of revenue in fiscal 2025 against $907M for CarGurus.
- CarGurus grew revenue faster (13.7%, against −5.8%).
- CarGurus kept more of each dollar of sales as operating profit (27.0% operating margin, against −10.4%).
- CarGurus turned more of its sales into free cash flow (31.9% FCF margin, against −20.3%).
- CarGurus earned a higher return on the capital invested in it (90.3%, against −3.8%).
| Latest fiscal year | CARG · FY25 | CCOI · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.9B | $362M |
| Revenue | $907M | $976M |
| Free cash flow | $289M | −$198M |
| Net income | $156M | −$182M |
| Growth | ||
| Revenue growth | 13.7% | −5.8% |
| 5-year growth | 10.5% | 11.4% |
| Share count change | −5.5% | 0.6% |
| Profitability | ||
| Gross margin | 92.8% | 45.2% |
| Operating margin | 27.0% | −10.4% |
| Net margin | 17.2% | −18.7% |
| FCF margin | 31.9% | −20.3% |
| Return on capital | 90.3% | −3.8% |
| Return on equity | 34.0% | — |
| Balance sheet | ||
| Net debt | −$191M | $2.2B |
| Net debt / EBITDA | −0.7x | 13.0x |
| Dividends and buybacks | $352M | $167M |
| Valuation & quality | ||
| P/E | 17.1x | — |
| Piotroski F-score | 7 | 4 |
Revenue
FY16
CARG $198M
CCOI $447M
FY17
CARG $317M
CCOI $485M
FY18
CARG $454M
CCOI $520M
FY19
CARG $589M
CCOI $546M
FY20
CARG $552M
CCOI $568M
FY21
CARG $951M
CCOI $590M
FY22
CARG $1.7B
CCOI $600M
FY23
CARG $698M
CCOI $941M
FY24
CARG $798M
CCOI $1.0B
FY25
CARG $907M
CCOI $976M
CARG
CCOI
Operating margin
FY16
CARG 4.3%
CCOI 14.3%
FY17
CARG 4.8%
CCOI 15.7%
FY18
CARG 5.1%
CCOI 16.6%
FY19
CARG 5.8%
CCOI 18.4%
FY20
CARG 17.7%
CCOI 18.8%
FY21
CARG 15.6%
CCOI 20.2%
FY22
CARG 6.6%
CCOI 19.0%
FY23
CARG 17.2%
CCOI −13.7%
FY24
CARG 19.7%
CCOI −19.1%
FY25
CARG 27.0%
CCOI −10.4%
CARG
CCOI
Free cash flow
FY16
CARG $14.2M
CCOI $62.7M
FY17
CARG $20.5M
CCOI $65.9M
FY18
CARG $45.8M
CCOI $84.0M
FY19
CARG $58.9M
CCOI $102M
FY20
CARG $154M
CCOI $84.4M
FY21
CARG $90.6M
CCOI $100M
FY22
CARG $250M
CCOI $94.7M
FY23
CARG $100.0M
CCOI −$112M
FY24
CARG $180M
CCOI −$204M
FY25
CARG $289M
CCOI −$198M
CARG
CCOI
Return on capital
FY16
CARG —
CCOI 15.8%
FY17
CARG —
CCOI 16.2%
FY18
CARG —
CCOI 19.7%
FY19
CARG —
CCOI 19.1%
FY20
CARG —
CCOI 16.1%
FY21
CARG —
CCOI 18.1%
FY22
CARG 28.0%
CCOI 11.8%
FY23
CARG 28.1%
CCOI −10.4%
FY24
CARG 44.3%
CCOI −7.8%
FY25
CARG 90.3%
CCOI −3.8%
CARG
CCOI
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.