CarGurus vs Iridium Communications
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The short version
- CarGurus is the larger business, with $907M of revenue in fiscal 2025 against $872M for Iridium Communications.
- CarGurus grew revenue faster (13.7%, against 4.9%).
- Iridium Communications turned more of its sales into free cash flow (34.4% FCF margin, against 31.9%).
- CarGurus earned a higher return on the capital invested in it (90.3%, against 8.7%).
- Investors pay more for each dollar of Iridium Communications’s earnings: a P/E of 29.4x against 17.1x for CarGurus.
| Latest fiscal year | CARG · FY25 | IRDM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.9B | $4.8B |
| Revenue | $907M | $872M |
| Free cash flow | $289M | $300M |
| Net income | $156M | $114M |
| Growth | ||
| Revenue growth | 13.7% | 4.9% |
| 5-year growth | 10.5% | 8.4% |
| Share count change | −5.5% | −10.0% |
| Profitability | ||
| Gross margin | 92.8% | — |
| Operating margin | 27.0% | 27.1% |
| Net margin | 17.2% | 13.1% |
| FCF margin | 31.9% | 34.4% |
| Return on capital | 90.3% | 8.7% |
| Return on equity | 34.0% | 22.0% |
| Balance sheet | ||
| Net debt | −$191M | $1.7B |
| Net debt / EBITDA | −0.7x | 3.7x |
| Dividends and buybacks | $352M | $249M |
| Valuation & quality | ||
| P/E | 17.1x | 29.4x |
| Piotroski F-score | 7 | 7 |
Revenue
FY16
CARG $198M
IRDM $434M
FY17
CARG $317M
IRDM $448M
FY18
CARG $454M
IRDM $523M
FY19
CARG $589M
IRDM $560M
FY20
CARG $552M
IRDM $583M
FY21
CARG $951M
IRDM $615M
FY22
CARG $1.7B
IRDM $721M
FY23
CARG $698M
IRDM $791M
FY24
CARG $798M
IRDM $831M
FY25
CARG $907M
IRDM $872M
CARG
IRDM
Operating margin
FY16
CARG 4.3%
IRDM 40.7%
FY17
CARG 4.8%
IRDM 25.8%
FY18
CARG 5.1%
IRDM 8.0%
FY19
CARG 5.8%
IRDM 1.8%
FY20
CARG 17.7%
IRDM 6.1%
FY21
CARG 15.6%
IRDM 7.5%
FY22
CARG 6.6%
IRDM 10.6%
FY23
CARG 17.2%
IRDM 10.3%
FY24
CARG 19.7%
IRDM 24.1%
FY25
CARG 27.0%
IRDM 27.1%
CARG
IRDM
Free cash flow
FY16
CARG $14.2M
IRDM −$180M
FY17
CARG $20.5M
IRDM −$140M
FY18
CARG $45.8M
IRDM −$128M
FY19
CARG $58.9M
IRDM $80.3M
FY20
CARG $154M
IRDM $211M
FY21
CARG $90.6M
IRDM $261M
FY22
CARG $250M
IRDM $273M
FY23
CARG $100.0M
IRDM $241M
FY24
CARG $180M
IRDM $306M
FY25
CARG $289M
IRDM $300M
CARG
IRDM
Return on capital
FY16
CARG —
IRDM —
FY17
CARG —
IRDM 4.1%
FY18
CARG —
IRDM 1.1%
FY19
CARG —
IRDM 0.3%
FY20
CARG —
IRDM 1.0%
FY21
CARG —
IRDM 1.4%
FY22
CARG 28.0%
IRDM 3.0%
FY23
CARG 28.1%
IRDM 2.7%
FY24
CARG 44.3%
IRDM 7.8%
FY25
CARG 90.3%
IRDM 8.7%
CARG
IRDM
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.