Tearsheet

Cars.com (CARS)

Market Price (12/5/2025): $12.11 | Market Cap: $747.3 Mil
Sector: Communication Services | Industry: Interactive Media & Services

Cars.com (CARS)

Market Price (12/5/2025): $12.11
Market Cap: $747.3 Mil
Sector: Communication Services
Industry: Interactive Media & Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%	Weak multi-year price returns 2Y Excs Rtn is -85%, 3Y Excs Rtn is -88%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 53%
1	Attractive yield FCF Yield is 16%	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
2	Low stock price volatility Vol 12M is 50%
3	Megatrend and thematic drivers Megatrends include E-commerce & Digital Retail, and Digital Advertising. Themes include Online Marketplaces, and Ad-Tech Platforms.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%
1	Attractive yield FCF Yield is 16%
2	Low stock price volatility Vol 12M is 50%
3	Megatrend and thematic drivers Megatrends include E-commerce & Digital Retail, and Digital Advertising. Themes include Online Marketplaces, and Ad-Tech Platforms.
4	Weak multi-year price returns 2Y Excs Rtn is -85%, 3Y Excs Rtn is -88%
5	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
6	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 53%

Valuation, Metrics & Events

	12/5/25	2024	2023	2022	2021
Share Price CYE	$12.11	$17.33	$18.97	$13.77	$16.09
Market Cap CYE ($ Mil)	747.3	1,127.6	1,261.7	916.2	1,113.1
Total Debt ($ Mil)	451.2	455.3	483.2	472.4	466.3
Total Cash ($ Mil)	55.1	50.7	39.2	31.7	39.1
Enterprise Value ($ Mil)	1,143.4	1,582.9	1,744.9	1,388.6	1,579.4
Valuation Ratios
P/S TTM	1.1	1.6	1.8	1.4	1.8
P/EBIT TTM	10.7	12.2	25.1	16.2	22.9
P/E TTM	25.1	23.7	10.7	54.6	102.5
Sector Ratios
P/S TTM (Sector)	1.1	1.1	1.1	1.2	2.0
P/EBIT TTM (Sector)	1.3	1.9	0.3	1.1	4.6
P/E TTM (Sector)	-0.9	-0.9	-0.6	-0.4	5.8

	12/5/25	2024	2023
Share Price CYE	$12.11	$17.33	$18.97
Market Cap CYE ($ Mil)	747.3	1,127.6	1,261.7
Total Debt ($ Mil)	451.2	455.3	483.2
Total Cash ($ Mil)	55.1	50.7	39.2
Enterprise Value ($ Mil)	1,143.4	1,582.9	1,744.9
Valuation Ratios
P/S TTM	1.1	1.6	1.8
P/EBIT TTM	10.7	12.2	25.1
P/E TTM	25.1	23.7	10.7
Sector Ratios
P/S TTM (Sector)	1.1	1.1	1.1
P/EBIT TTM (Sector)	1.3	1.9	0.3
P/E TTM (Sector)	-0.9	-0.9	-0.6

	CARS	S&P 500
REVENUE GROWTH	POOR
Rev LTM ($ Bil)	0.7
Rev Chg Q	1.1%	7.1%
Rev Chg LTM	0.2%	6.1%
Rev Chg 3Y Avg	3.8%	5.5%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.1
Net Inc LTM ($ Bil)	0.0
Op Mgn LTM	8.1%	18.8%
CFO/Rev LTM	20.1%	20.5%
Net Inc Mgn	4.2%	13.1%
VALUATION	MODERATE
P/S	1.0	3.2
P/CFO	5.2	15.8
P/FCF	6.3	20.5
P/E	25.2	23.5
STABILITY	FAIR
Debt/Equity	0.60	0.20
Cash/Assets	0.05	0.07

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Metric	Value	Date	Source
Dealer Customers	19412	6302025	Link
Average Monthly Unique Visitors	26600000	6302025	Link
Traffic (Visits)	162000000	6302025	Link
Monthly Average Revenue Per Dealer (ARPD)	2435	6302025	Link
AccuTrade Appraisals	813000	3312025	Link

Recent
11/06/2025	Earnings Release	Rev: $181 Mil (A) vs. $183 Mil (E) EPS: 0.48 (A) vs. $0.50 (E)
Upcoming
2/26/2026	Earnings Release	Rev: - EPS: -

CARS Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Following the release of its fourth-quarter and full-year 2024 financial results on February 27, 2025, Cars.com's stock experienced a significant negative movement due to several factors.

1. Earnings Per Share (EPS) Miss: Cars.com reported an adjusted EPS of $0.49 for Q4 2024, which fell short of analysts' consensus estimates of $0.56 or $0.52. This miss typically signals underperformance relative to market expectations.

2. Revenue Falling Short of Expectations: The company's Q4 2024 revenue of $180.4 million was slightly below the anticipated $183.9 million, or the Zacks Consensus Estimate of $182.51 million. A revenue shortfall, even a small one, can lead to negative investor sentiment.

Stock Movement Drivers

Fundamental Drivers

The -11.1% change in CARS stock from 9/4/2025 to 12/4/2025 was primarily driven by a -27.2% change in the company's Net Income Margin (%).

	9042025	12042025	Change
Stock Price ($)	13.63	12.12	-11.08%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	717.85	719.77	0.27%
Net Income Margin (%)	5.71%	4.16%	-27.16%
P/E Multiple	20.99	24.96	18.95%
Shares Outstanding (Mil)	63.16	61.71	2.30%
Cumulative Contribution			-11.13%

LTM = Last Twelve Months as of date shown

Market Drivers

9/4/2025 to 12/4/2025

	Return	Correlation
CARS	-11.1%
Market (SPY)	5.4%	29.0%
Sector (XLC)	1.5%	33.4%

Fundamental Drivers

The 18.9% change in CARS stock from 6/5/2025 to 12/4/2025 was primarily driven by a 72.5% change in the company's P/E Multiple.

	6052025	12042025	Change
Stock Price ($)	10.19	12.12	18.94%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	718.00	719.77	0.25%
Net Income Margin (%)	6.32%	4.16%	-34.16%
P/E Multiple	14.47	24.96	72.50%
Shares Outstanding (Mil)	64.47	61.71	4.28%
Cumulative Contribution			18.72%

LTM = Last Twelve Months as of date shown

Market Drivers

6/5/2025 to 12/4/2025

	Return	Correlation
CARS	18.9%
Market (SPY)	15.7%	41.3%
Sector (XLC)	13.4%	38.0%

Fundamental Drivers

The -39.7% change in CARS stock from 12/4/2024 to 12/4/2025 was primarily driven by a -26.3% change in the company's P/E Multiple.

	12042024	12042025	Change
Stock Price ($)	20.10	12.12	-39.70%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	718.33	719.77	0.20%
Net Income Margin (%)	5.46%	4.16%	-23.79%
P/E Multiple	33.87	24.96	-26.29%
Shares Outstanding (Mil)	66.11	61.71	6.65%
Cumulative Contribution			-39.97%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2024 to 12/4/2025

	Return	Correlation
CARS	-39.7%
Market (SPY)	13.7%	45.2%
Sector (XLC)	16.4%	42.1%

Fundamental Drivers

The -17.1% change in CARS stock from 12/5/2022 to 12/4/2025 was primarily driven by a -89.8% change in the company's P/E Multiple.

	12052022	12042025	Change
Stock Price ($)	14.62	12.12	-17.10%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	643.98	719.77	11.77%
Net Income Margin (%)	0.63%	4.16%	560.19%
P/E Multiple	243.71	24.96	-89.76%
Shares Outstanding (Mil)	67.68	61.71	8.82%
Cumulative Contribution			-17.75%

LTM = Last Twelve Months as of date shown

Market Drivers

12/5/2023 to 12/4/2025

	Return	Correlation
CARS	-34.7%
Market (SPY)	53.3%	44.7%
Sector (XLC)	71.3%	41.1%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
CARS Return	-8%	42%	-14%	38%	-9%	-30%	-1%
Peers Return	9%	6%	-40%	19%	6%	-31%	-39%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	112%
Monthly Win Rates [3]
CARS Win Rate	50%	67%	42%	67%	33%	50%
Peers Win Rate	43%	48%	30%	38%	40%	48%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
CARS Max Drawdown	-70%	0%	-45%	0%	-20%	-42%
Peers Max Drawdown	-37%	-13%	-50%	-23%	-24%	-43%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: CARG, TRUE, UIS, FORR, STUB. See CARS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/4/2025 (YTD)

How Low Can It Go

Unique Key	Event	CARS	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-53.4%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	114.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	288 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-72.9%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	268.7%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	257 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-74.5%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	292.1%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days

Compare to CARG, TRUE, UIS, FORR, STUB

In The Past

Cars.com's stock fell -53.4% during the 2022 Inflation Shock from a high on 12/8/2021. A -53.4% loss requires a 114.7% gain to breakeven.

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About Cars.com (CARS)

Cars.com Inc. operates as a digital marketplace and provides solutions for the automotive industry. Its platform connects car shoppers with sellers. The company, through its marketplace, dealer websites, and other digital products, showcases dealer inventory, elevate and amplify dealers' and automotive manufacturers' (OEMs) brands, connect sellers with ready-to-buy audience, and empower shoppers with the resources and information needed to make car buying decisions. It also offers marketplace products, such as marketplace subscription advertising and social selling services; digital solutions, including Website platform hosting, AI chat tool, digital retailing, and review and reputation management; and advertising comprising display advertising, instant loan screening and approvals, digital advertising, and in-market audio services. As of December 31, 2021, the company served 19,179 dealer customers in 50 states, which included franchise and independent dealers, with digital and brick-and-mortar stores; and primary automakers selling vehicles in the United States. Its customers are local car dealers, OEMs, and other national advertisers. Cars.com Inc. was founded in 1998 and is based in Chicago, Illinois.

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Zillow for cars.

Kayak for cars.

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Online Vehicle Marketplace: An online platform connecting car shoppers with new and used vehicle inventory from dealerships and private sellers.
Digital Advertising Solutions: Provides dealerships with various digital advertising products and services to showcase their inventory and attract potential buyers.
Dealer Software & Data Solutions: Offers proprietary software, analytics, and digital tools designed to help automotive dealerships manage operations and improve their online performance.
Consumer Buying & Ownership Tools: Supplies tools for car shoppers to research, value vehicles, pre-qualify for financing, and schedule service appointments.

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Cars.com (NYSE: CARS) primarily sells its services to other companies (B2B) rather than directly to individual consumers. Its major customers fall into two primary categories:

Automotive Dealerships: These represent the vast majority of Cars.com's customer base. They include thousands of new and used car dealerships across the United States. Dealerships subscribe to Cars.com's digital advertising products, lead generation services, and merchandising solutions to market their vehicle inventory and connect with car buyers. Cars.com's customer base in this category is highly fragmented, with no single dealership or dealer group accounting for a significant portion of its revenue (Cars.com explicitly states no single customer accounted for 10% or more of its total revenues in recent financial reports). As most dealerships are privately owned local businesses, and no individual public dealership group constitutes a major customer on its own, specific names of publicly traded dealership customers are not individually identifiable or material to Cars.com's overall business.
Automotive Manufacturers (OEMs): Major automotive manufacturers utilize platforms like Cars.com for national advertising campaigns, brand promotion, and to drive consumer traffic to their respective dealer networks. While not direct subscribers for vehicle listing services in the same way dealerships are, their advertising and marketing spend represents a significant component of Cars.com's revenue from this segment. Examples of such potential customer companies (though Cars.com does not typically disclose individual OEM customers by name due to the nature of their agreements and the breadth of advertisers) would include major global automotive companies:
- Ford Motor Company (NYSE: F)
- General Motors Company (NYSE: GM)
- Toyota Motor Corporation (NYSE: TM)
- Stellantis N.V. (NYSE: STLA)
- Honda Motor Co., Ltd. (NYSE: HMC)
These companies leverage Cars.com's extensive audience reach to achieve their marketing objectives.

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Amazon (AMZN)

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Alex Vetter, Chief Executive Officer and President

Alex Vetter is one of the founding members of Cars.com and has served as President and CEO since November 2014. In this role, he has taken the company public and transformed its business model from an online listings and content provider to an audience-driven technology company. Prior to becoming CEO, he held several senior management roles at Cars.com, including Senior Vice President and Chief Operating Officer from 2006 to 2014. Before Cars.com, he worked as Manager of Business Development for Classified Ventures from 1997 to 1998 and as Business Development Manager for Tribune Interactive/Tribune Media Services from 1996 to 1997. Vetter is also an active technology investor and advisor, serving as a director for RepairPal, Inc., and on advisory boards for other technology ventures.

Sonia Jain, Chief Financial Officer

Sonia Jain joined Cars.com as Chief Financial Officer in July 2020. She was reappointed to the role in October 2022 after a period from April to September 2022 during which she served as CFO of Convoy Inc. Prior to her time at Cars.com, she was the Chief Financial Officer of Redbox Automated Retail from September 2016 to July 2020. Her previous experience also includes serving as Vice President, Finance and Treasurer with Outerwall, an investment banker at Morgan Stanley, and a consultant at McKinsey & Company. Jain joined the board of directors of AMC Entertainment Holdings, Inc. on March 1, 2024.

Lisa Gosselin, Chief Commercial Officer

Lisa Gosselin serves as the Chief Commercial Officer for Cars.com. She previously held leadership positions at Dealer Inspire before its acquisition by Cars.com, where she oversaw marketing, product, and strategy. Gosselin has been recognized for her leadership and contributions to the automotive industry, including being named to the "40 Under 40" list by Automotive News. Prior to Dealer Inspire, her career included roles at TrueCar and J.D. Power.

Angelique Strong Marks, Chief Legal Officer & Corporate Secretary

Angelique Strong Marks was appointed Chief Legal Officer and Corporate Secretary for Cars.com in April 2022. In this role, she is responsible for the company's legal corporate governance, compliance, information security, and data privacy matters. Her background includes serving as General Counsel, Corporate Secretary, and Compliance Officer at Mahle Industries and Behr America, both global suppliers to the automotive industry.

Matthew Crawford, Chief Product and Innovation Officer

Matthew Crawford has served as Chief Product and Innovation Officer at Cars.com since January 2022. He is responsible for overseeing the company's product, technology, design, and research organizations. His focus in this role is on executing the company's platform strategy by simplifying the process of buying and selling cars.

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The accelerating shift towards direct-to-consumer sales and agency models by automotive manufacturers (OEMs) poses a clear emerging threat to Cars.com. Cars.com's business model relies heavily on traditional franchised dealerships paying for listings and advertising services to connect with car buyers. However, a growing number of OEMs are bypassing or significantly altering this traditional dealer-centric model: 1. **OEM Direct Sales:** Following Tesla's established blueprint, more OEMs are investing in their own online sales platforms, reservation systems, and direct delivery options. This allows consumers to purchase vehicles directly from the manufacturer, thereby bypassing the traditional dealership network and, consequently, the need for third-party marketplaces like Cars.com to facilitate that specific transaction. 2. **Agency Model Adoption:** OEMs such as Mercedes-Benz, Volvo, and Ford (for its Model E electric vehicle division) are implementing or exploring "agency models" in various markets. Under this model, the OEM sets vehicle prices and largely controls the sales process, with dealerships acting as agents for a fixed fee rather than independent retailers. This centralizes the sales journey with the manufacturer and their brand websites, diminishing the dealerships' independent role in generating leads and attracting buyers, which directly impacts the value proposition of Cars.com. 3. **Reduced Reliance on Third-Party Marketplaces:** As OEMs enhance their own direct online sales capabilities and brand-specific digital experiences, consumers are increasingly likely to begin and complete their new car purchase journey directly on OEM websites. This reduces the dealerships' need to invest in advertising and listings on third-party aggregators for new vehicles, potentially extending to certified pre-owned vehicles as OEMs gain more control over their lifecycle.

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Cars.com (symbol: CARS), operating as Cars Commerce, addresses several large markets in the United States through its main products and services:

Online Automotive Marketplace: This involves facilitating the buying and selling of new and used vehicles.
- The U.S. Used Car Market size is estimated at $1.05 trillion in 2025.
- U.S. new car sales are projected to reach an estimated 15.9 million units in 2025.
- The broader United States automotive dealership market, which includes new and used vehicle dealerships, parts and services, and finance and insurance, stands at $2.95 trillion in 2025.
Digital Marketing and Software Solutions for Dealers: These solutions include inventory management, CRM, sales processing, finance and insurance, service management, and business analytics.
- The North America automotive dealership software market was valued at $5,453.61 million in 2023 and is estimated to reach $12,953.15 million by 2033.
- The U.S. Dealer Management System (DMS) market is anticipated to expand from $3.63 billion in 2024 to $5.41 billion by 2034.
- The automotive digital retailing software market in North America is estimated at $1.5 billion in 2025 and is expected to reach approximately $5 billion by 2033.
Automotive Advertising Market: This includes online advertising opportunities for automotive brands.
- The U.S. automotive advertising market is valued at $12 billion.
- The North America Automotive Online Advertising Market is expected to generate a revenue of $5649.40 million (approximately $5.65 billion) in 2025.

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Cars.com (NYSE: CARS) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market dynamics:

Growth in Dealer Customers and Marketplace Adoption: Cars.com has demonstrated consistent growth in its dealer customer base, reaching a new three-year high of 19,526 dealer customers in Q3 2025. This reflects accelerating marketplace adoption driven by strategic go-to-market enhancements and strong sales and product execution. The company also reported its best sequential organic customer growth in over three years in Q2 2025.
Product Innovation and Repackaging: The company's strategic focus on product innovation and marketplace repackaging is a significant revenue driver. This includes the successful launch of new premium and premium plus packages, which have led to renegotiated OEM website agreements and improved lead generation for dealers, with some packages driving up to 14% more leads per listing.
Expansion and Adoption of AccuTrade: The continued growth and adoption of AccuTrade, Cars.com's trade and appraisal solution, is contributing to revenue. AccuTrade has seen an increase in subscribers and its installed base, further bolstered by recent OEM endorsements. This expansion leverages proprietary insights and technology to enhance dealer profitability.
AI Integration and Enhanced Consumer Engagement: Cars.com is leveraging AI to boost consumer engagement, notably through its AI-powered search assistant, "Carson." This integration has significantly increased consumer engagement, with AI users saving more vehicles and driving more vehicle listing views, translating into greater value for both car shoppers and dealer customers.

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Share Repurchases

In February 2022, Cars.com authorized a share repurchase program of up to $200 million over a three-year period.
As of September 30, 2024, cumulative share repurchases since 2022 totaled $116 million.
In February 2025, a new share repurchase program was authorized for up to $250 million over three years. For fiscal year 2025, Cars.com targeted $70 to $90 million in share repurchases, having executed $63.9 million year-to-date as of September 30, 2025.

Share Issuance

No significant share issuances for capital raising purposes were identified within the last 3-5 years.

Inbound Investments

No significant inbound investments made in the company by third-parties were identified within the last 3-5 years.

Outbound Investments

In January 2025, Cars.com acquired DealerClub, a reputation-based automotive digital wholesale auction, for approximately $25 million in cash at closing, with a potential for an additional performance-based consideration of up to $88 million.

Capital Expenditures

Historical capital expenditures were $19 million in 2021, $20 million in 2022, $1 million in 2023, and $3 million in 2024.
Projected capital expenditures are $14 million for 2025, $14 million for 2026, and $15 million for 2027.
Capital expenditures are primarily focused on investments in product and technology initiatives, including the capitalization of internally developed technology.

Better Bets than Cars.com (CARS)

	CARS	Better Performance than CARS
Metric	Value	INDUSTRY: Interactive Media & Services
Rev Chg LTM	0.2%	RDDT (69.7%), META (21.3%), PINS (16.8%), GOOGL (13.4%), SPOT (11.9%)
Rev Chg 3Y Avg	3.8%	RDDT (45.3%), META (17.3%), SPOT (14.6%), PINS (13.6%), GOOGL (11.0%)
Op Mgn LTM	8.1%	META (43.2%), GOOGL (32.2%), MTCH (24.0%), RDDT (13.8%), SPOT (11.7%)
CFO/Rev LTM	20.1%	META (56.8%), GOOGL (39.3%), MTCH (29.2%), PINS (28.3%), RDDT (27.0%)
FCF/Rev LTM	16.5%	PINS (27.7%), RDDT (26.8%), META (23.7%), GOOGL (19.1%), SPOT (17.3%)
Total Yield	4.0%	UPWK (10.1%), PINS (9.1%), MTCH (8.3%), GOOGL (4.6%), CARG (4.2%)
P/S	1.0	MAX (0.6), SSTK (0.7), QNST (0.8), WBTN (0.9), NRDS (1.0)
P/Op Inc	12.9	BMBL (3.1), GETY (3.9), SSTK (8.2), MTCH (10.2), YELP (10.4)

	CARS	Better Performance than CARS
Metric	Value	SECTOR: Communication Services
Rev Chg LTM	0.2%	META (21.3%), NFLX (15.4%), GOOGL (13.4%), TMUS (7.3%), DIS (5.0%)
Rev Chg 3Y Avg	3.8%	META (17.3%), SPOT (14.6%), NFLX (11.4%), GOOGL (11.0%), DIS (5.3%)
Op Mgn LTM	8.1%	META (43.2%), GOOGL (32.2%), NFLX (29.1%), TMUS (22.6%), DIS (14.8%)
CFO/Rev LTM	20.1%	META (56.8%), GOOGL (39.3%), TMUS (31.3%), NFLX (22.1%), DIS (20.3%)
FCF/Rev LTM	16.5%	RBLX (26.1%), META (23.7%), NFLX (20.7%), GOOGL (19.1%), SPOT (17.3%)
Total Yield	4.0%	VZ (16.8%), T (11.0%), TMUS (5.9%), DIS (5.5%), GOOGL (4.6%)
P/S	1.0	CHTR (0.7), RCI (0.9), BCE (0.9), CMCSA (0.9), OMC (1.0)
P/Op Inc	12.9	CHTR (2.8), CMCSA (5.2), VZ (5.9), T (8.3), FOXA (8.7)

	CARS	Better Performance than CARS
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	0.2%	NVDA (71.6%), AVGO (28.0%), MSFT (15.6%), AMZN (10.9%), AAPL (6.0%)
Rev Chg 3Y Avg	3.8%	NVDA (92.0%), AVGO (24.0%), MSFT (13.2%), AMZN (11.3%), TSLA (9.3%)
Op Mgn LTM	8.1%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), AAPL (31.9%), AMZN (11.4%)
CFO/Rev LTM	20.1%	MSFT (50.0%), NVDA (46.6%), AVGO (42.4%), AAPL (26.6%), LLY (20.5%)
FCF/Rev LTM	16.5%	MA (52.5%), NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%)
Total Yield	4.0%	XOM (10.3%), JNJ (8.4%), JPM (6.7%), BRK-B (6.2%), V (5.3%)
P/S	1.0	CVS (0.2), MCK (0.2), UNH (0.7), UPS (0.8), DELL (0.8)
P/Op Inc	12.9	MRK (9.4), PFE (9.4), UNH (11.9), GILD (12.4), XOM (12.4)

		Best Bets In Communication Services Sector
	CARS	META	TTD	MTCH	PINS	GOOGL	CARG	NXST	T	UPWK	FWONA
What You Pay
P/E	25.2	31.6	54.5	15.1	11.0	23.6	24.0	11.6	9.1	9.9	11.5
P/EBIT	10.7	21.7	45.3	10.2	77.8	19.3	17.6	5.5	5.8	21.4	68.0
What You Get
Rev Chg Q	1.1%	26.2%	17.7%	2.1%	16.8%	15.9%	3.2%	-12.3%	1.6%	4.1%	19.1%
Rev Chg LTM	0.2%	21.3%	20.8%	-0.5%	16.8%	13.4%	4.2%	-1.4%	2.0%	2.5%	8.7%
Rev Chg 3Y Avg	3.8%	17.3%	23.5%	2.7%	13.6%	11.0%	-15.9%	1.2%	1.1%	9.7%	16.5%
FCF/Rev 3Y Avg	17.5%	29.0%	26.6%	25.8%	22.9%	20.5%	18.6%	17.6%	16.3%	15.4%	14.7%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 12%, alpha of 0.5%, and sharpe of 0.56

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	With Cars.com Stock Surging, Have You Considered The Downside?	Return
2	Cars.com (CARS) Revenue Comparison	Financials
3	Cars.com (CARS) Net Income Comparison	Financials
4	Cars.com (CARS) Operating Cash Flow Comparison	Financials
5	Cars.com (CARS) Debt Comparison	Financials
6	Cars.com (CARS) EBITDA Comparison	Financials
7	Cars.com (CARS) Operating Income Comparison	Financials
8	Cars.com (CARS) Tax Expense Comparison	Financials
9	CARS Dip Buy Analysis
10	Cars.com Total Shareholder Return (TSR): -8.6% in 2024 and 2.5% 3-yr compounded annual returns (above peer average)

	Title
0	ARTICLES

Trade Ideas

Select past ideas related to CARS. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
PINS_11302025_Monopoly_xInd_xCD_Getting_Cheaper	11302025	PINS	Pinterest	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	4.9%	4.9%	0.0%
TMUS_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	TMUS	T-Mobile US	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.0%	0.0%	-1.2%
Z_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	Z	Zillow	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	6.8%	6.8%	0.0%
IRDM_11072025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11072025	IRDM	Iridium Communications	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	2.1%	2.1%	-5.6%
TTD_10032025_Dip_Buyer_High_CFO_Margins_ExInd_DE	10032025	TTD	Trade Desk	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-25.1%	-25.1%	-25.6%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
PINS_11302025_Monopoly_xInd_xCD_Getting_Cheaper	11302025	PINS	Pinterest	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	4.9%	4.9%	0.0%
TMUS_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	TMUS	T-Mobile US	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.0%	0.0%	-1.2%
Z_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	Z	Zillow	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	6.8%	6.8%	0.0%
IRDM_11072025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11072025	IRDM	Iridium Communications	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	2.1%	2.1%	-5.6%
TTD_10032025_Dip_Buyer_High_CFO_Margins_ExInd_DE	10032025	TTD	Trade Desk	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-25.1%	-25.1%	-25.6%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
LXP	LXP Industrial Trust	2.8	406.1%	25.7%
OLMA	Olema Pharmaceuticals	2.4	237.1%	374.1%
COGT	Cogent Biosciences	5.4	178.2%	404.0%
CDTX	Cidara Therapeutics	5.9	119.6%	720.3%
SGML	Sigma Lithium	1.1	113.2%	-11.1%
IRWD	Ironwood Pharmaceuticals	0.6	99.5%	-15.8%
ALMS	Alumis	0.6	82.4%	5.6%
NPCE	NeuroPace	0.6	80.5%	51.7%
BW	Babcock & Wilcox Enterprises	0.7	80.5%	311.6%
CBLL	CeriBell	0.7	75.4%	-26.0%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CCOI	Cogent Communications	0.9	-53.0%	-74.0%
UP	Wheels Up Experience	0.5	-48.0%	-60.0%
TLRY	Tilray Brands	7.7	-41.8%	-45.7%
AMSC	American Superconductor	1.4	-41.4%	34.0%
CTEV	Claritev	0.6	-41.2%
BTDR	Bitdeer Technologies	2.5	-40.7%	-41.6%
FRMI	Fermi	11.1	-40.2%
JANX	Janux Therapeutics	1.0	-39.3%	-69.4%
ARDT	Ardent Health	1.2	-39.1%	-48.1%
SMR	NuScale Power	3.4	-35.9%	27.4%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

Peer Comparisons for Cars.com

Peers to compare with:

Financials

	CARS	CARG	TRUE	UIS	FORR	STUB	Median
Name	Cars.com	CarGurus	TrueCar	Unisys	Forreste.	Stubhub
Mkt Price	12.12	35.86	2.17	2.81	6.82	11.93	9.38
Mkt Cap	0.7	3.5	0.2	0.2	0.1	-	0.2
Rev LTM	720	926	181	1,921	412	-	720
Op Inc LTM	58	208	-34	44	11	-	44
FCF LTM	119	252	-0	-231	19	-	19
FCF 3Y Avg	123	175	-17	-70	11	-	11
CFO LTM	145	288	8	-168	22	-	22
CFO 3Y Avg	147	229	-7	-0	15	-	15

Growth & Margins

	CARS	CARG	TRUE	UIS	FORR	STUB	Median
Name	Cars.com	CarGurus	TrueCar	Unisys	Forreste.	Stubhub
Rev Chg LTM	0.2%	4.2%	6.2%	-4.9%	-9.1%	-	0.2%
Rev Chg 3Y Avg	3.8%	-15.9%	2.4%	-0.7%	-7.7%	-	-0.7%
Rev Chg Q	1.1%	3.2%	-7.2%	-7.4%	-8.3%	-	-7.2%
QoQ Delta Rev Chg LTM	0.3%	0.8%	-1.8%	-1.9%	-2.4%	-	-1.8%
Op Mgn LTM	8.1%	22.5%	-18.9%	2.3%	2.6%	-	2.6%
Op Mgn 3Y Avg	7.9%	13.1%	-28.5%	1.4%	3.8%	-	3.8%
QoQ Delta Op Mgn LTM	0.7%	2.0%	-0.3%	-13.0%	-0.9%	-	-0.3%
CFO/Rev LTM	20.1%	31.1%	4.3%	-8.8%	5.2%	-	5.2%
CFO/Rev 3Y Avg	20.8%	24.6%	-4.9%	-0.2%	3.3%	-	3.3%
FCF/Rev LTM	16.5%	27.2%	-0.0%	-12.0%	4.6%	-	4.6%
FCF/Rev 3Y Avg	17.5%	18.6%	-10.7%	-3.7%	2.4%	-	2.4%

Valuation

	CARS	CARG	TRUE	UIS	FORR	STUB	Median
Name	Cars.com	CarGurus	TrueCar	Unisys	Forreste.	Stubhub
Mkt Cap	0.7	3.5	0.2	0.2	0.1	-	0.2
P/S	1.0	3.9	0.9	0.1	0.5	-	0.9
P/EBIT	10.7	17.6	-4.8	-1.3	-2.4	-	-1.3
P/E	25.2	24.0	-8.8	-0.8	-2.1	-	-0.8
P/CFO	5.2	12.7	20.7	-1.7	8.8	-	8.8
Total Yield	4.0%	4.2%	-11.4%	-118.1%	-47.0%	-	-11.4%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	-	0.0%
FCF Yield 3Y Avg	12.8%	6.4%	-8.2%	-25.0%	4.1%	-	4.1%
D/E	0.6	0.1	0.1	2.8	0.4	-	0.4
Net D/E	0.5	0.0	-0.6	1.6	-0.3	-	0.0

Returns

	CARS	CARG	TRUE	UIS	FORR	STUB	Median
Name	Cars.com	CarGurus	TrueCar	Unisys	Forreste.	Stubhub
1M Rtn	15.8%	5.5%	-0.9%	-16.6%	-10.0%	-30.3%	-5.5%
3M Rtn	-11.1%	-0.9%	2.4%	-26.4%	-29.8%	-	-11.1%
6M Rtn	18.9%	12.9%	57.2%	-36.4%	-32.8%	-	12.9%
12M Rtn	-39.7%	-7.5%	-50.6%	-66.8%	-59.3%	-	-50.6%
3Y Rtn	-17.1%	184.8%	-22.5%	-39.6%	-81.1%	-	-22.5%
1M Excs Rtn	14.5%	4.3%	-2.2%	-17.9%	-11.3%	-31.6%	-6.7%
3M Excs Rtn	-16.6%	-6.6%	-5.3%	-33.4%	-36.1%	-	-16.6%
6M Excs Rtn	3.5%	-2.5%	41.8%	-51.9%	-48.3%	-	-2.5%
12M Excs Rtn	-52.6%	-18.7%	-63.6%	-79.4%	-74.0%	-	-63.6%
3Y Excs Rtn	-88.2%	117.8%	-86.1%	-103.5%	-153.2%	-	-88.2%

Comparison Analyses

	Title
0	Cars.com vs. CarGurus: With Return Forecast Of 18%, Cars.com Is A Better Bet
1	Cars.com vs. Spartan Stores: Similar Market Cap, But Cars.com Is A Better Bet
2	Cars.com vs. Adtalem Global Education: Similar Market Cap, Similar Bets
3	Cars.com vs. U.S. Silica Holdings: Similar Market Cap, But U.S. Silica Holdings Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/6/2025	2/27/2025	2/22/2024	2/23/2023	2/25/2022	2/25/2021	2/26/2020
Key Financials
Total Revenue	720	719	689	654	624	548	607
EBITDA	170	201	152	152	150	-785	-328
Operating Income	58	53	54	66	48	30	36
Net Income	30	48	118	17	11	-817	-445
EPS	0.47	0.73	1.77	0.25	0.16	-12.15	-6.65
Growth Rates
Total Revenue Growth	0.2%	4.3%	5.4%	4.8%	13.9%	-9.8%	-8.4%
EBITDA Growth	-8.2%	32.8%	-0.5%	1.4%	119.1%	-139.7%	-273.8%
Operating Income Growth	19.8%	-1.1%	-18.1%	36.6%	63.7%	-18.4%	-63.6%
Net Income Growth	-23.6%	-59.3%	588.4%	59.4%	101.3%	-83.5%	-1247.5%
Margins
EBITDA Margin	23.7%	28.0%	22.0%	23.3%	24.1%	-143.4%	-54.0%
Operating Income Margin	8.1%	7.4%	7.9%	10.1%	7.8%	5.4%	6.0%
Net Income Margin	4.2%	6.7%	17.2%	2.6%	1.7%	-149.2%	-73.4%
Cash & Debt
Total Cash	55	51	39	32	39	68	14
Total Debt	451	455	483	472	466	584	643
Net Debt / (Cash)	396	405	444	441	427	516	629
Cash Flows
Net Cash from Operations	145	153	137	129	138	139	101
Free Cash from Operations	119	128	116	109	119	122	80
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	78	49	31	49	-0	-0	40

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/7/2025	5/8/2025	2/27/2025	11/7/2024	8/8/2024	5/9/2024	2/22/2024	11/2/2023	8/3/2023	5/4/2023	2/23/2023
Key Financials Quarterly
Total Revenue	182	179	179	180	180	179	180	180	174	168	167	168
Ebitda	42	42	33	53	60	52	37	37	36	34	45	49
Operating Income	17	15	6	20	11	10	13	15	14	12	13	20
Net Income	8	7	-2	17	19	11	1	8	4	94	11	10
EPS	0.12	0.11	-0.03	0.27	0.28	0.17	0.01	0.13	0.07	1.41	0.17	0.15
Key Financials TTM
Total Revenue TTM	720	718	718	719	718	713	702	689	678	668	663	654
Ebitda TTM	170	189	198	201	185	161	143	152	163	157	161	152
Operating Income TTM	58	53	47	53	49	52	54	54	59	65	68	66
Net Income TTM	30	41	45	48	39	25	108	118	120	113	24	17
Growth Rates Quarterly
Total Revenue Growth	1.1%	-0.1%	-0.6%	0.5%	3.1%	6.4%	7.8%	6.8%	5.9%	3.3%	5.6%	6.3%
EBITDA Growth	-30.5%	-18.4%	-8.3%	42.9%	66.6%	53.8%	-18.5%	-24.4%	21.7%	-11.6%	25.5%	65.8%
Operating Income Growth	46.7%	60.2%	-49.3%	32.4%	-20.0%	-22.8%	1.7%	-24.6%	-28.0%	-19.8%	14.5%	387.7%
Net Income Growth	-59.1%	-38.4%	-356.8%	107.3%	316.8%	-87.9%	-93.2%	-18.7%	252.7%	1597.5%	164.5%	455.8%
Margins Quarterly
EBITDA Margin	23.0%	23.8%	18.7%	29.1%	33.5%	29.1%	20.3%	20.5%	20.7%	20.1%	26.8%	28.9%
Operating Income Margin	9.3%	8.5%	3.6%	11.0%	6.4%	5.3%	7.1%	8.3%	8.2%	7.3%	7.5%	11.8%
Net Income Margin	4.2%	3.9%	-1.1%	9.6%	10.4%	6.4%	0.4%	4.6%	2.6%	56.0%	6.9%	6.1%
Cash & Debt
Total Cash	55	28	31	51	50	29	31	39	49	29	19	32
Total Debt	451	456	456	455	465	470	474	483	448	451	454	472
Net Debt / (Cash)	396	428	424	405	415	441	442	444	399	422	435	441
Cash Flows Quarterly
FCF from Operations	59	26	29	30	54	35	33	45	35	28	28	37
Cash Flows TTM
FCF from Operations TTM	145	139	149	153	168	149	142	137	129	142	126	129
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	20	23	22	13	21	5	9	8	6	10	7	9
Return on Invested Capital (ROIC) Quarterly
ROIC	2.6%	2.3%	1.4%	3.6%	1.8%	1.4%	2.5%	3.1%	3.0%	2.6%	2.4%	2.5%
Return on Invested Capital (ROIC) TTM
ROIC TTM	2.4%	2.2%	1.9%	2.2%	2.3%	2.7%	2.8%	2.8%	3.1%	3.4%	2.6%	2.6%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Single segment	689
Dealer		579
OEM and National		59
Other		16	8	8	12
Display advertising			85	85	92
Pay per lead			12	19	27
Subscription advertising and digital solutions			518	436	476
Total	689	654	624	548	607

Operating Income by Segment

$ Mil	2024	2023	2022	2021	2020
Single segment	54
Total	54

Net Income by Segment

$ Mil	2024	2023	2022	2021	2020
Single segment	118
Total	118

Price Behavior

Price Behavior

Market Price	$12.12
Market Cap ($ Bil)	0.7
First Trading Date	05/18/2017
Distance from 52W High	-39.7%
	50 Days	200 Days
DMA Price	$11.30	$11.88
DMA Trend	down	down
Distance from DMA	7.3%	2.1%
	3M	1YR
Volatility	40.8%	50.0%
Downside Capture	107.40	165.03
Upside Capture	23.50	94.00
Correlation (SPY)	30.9%	45.1%

CARS Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.79	0.96	1.15	1.70	1.14	1.20
Up Beta	2.08	2.24	2.71	3.13	1.08	1.16
Down Beta	-0.30	0.92	0.64	1.24	0.96	0.96
Up Capture	152%	41%	47%	142%	93%	154%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	19	25	63	116	354
Down Capture	12%	82%	131%	145%	132%	108%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	22	37	60	128	378

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of CARS With Other Asset Classes (Last 1Y)
	CARS	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-39.0%	18.6%	14.6%	57.6%	4.7%	-5.6%	-3.5%
Annualized Volatility	49.7%	19.1%	19.6%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	-0.82	0.76	0.57	2.22	0.10	-0.47	0.03
Correlation With Other Assets		42.1%	45.2%	2.8%	8.9%	31.7%	16.4%

ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of CARS With Other Asset Classes (Last 5Y)
	CARS	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	1.1%	13.2%	15.1%	18.0%	11.7%	4.8%	40.5%
Annualized Volatility	46.1%	20.9%	17.1%	15.5%	18.8%	19.0%	49.0%
Sharpe Ratio	0.18	0.54	0.71	0.93	0.51	0.17	0.68
Correlation With Other Assets		43.9%	49.5%	5.1%	9.3%	38.9%	23.8%

Based On 10-Year Data

		Comparison of CARS With Other Asset Classes (Last 10Y)
	CARS	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-8.0%	13.0%	14.5%	14.2%	5.7%	5.3%	76.1%
Annualized Volatility	57.3%	22.7%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.09	0.53	0.69	0.79	0.25	0.23	0.94
Correlation With Other Assets		41.8%	44.8%	-1.1%	11.5%	37.1%	14.3%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	6,600,997
Short Interest: % Change Since 10312025	6.2%
Average Daily Volume	992,115
Days-to-Cover Short Interest	6.65
Basic Shares Quantity	61,708,000
Short % of Basic Shares	10.7%

Returns Analyses

	Title
0	With Cars.com Stock Surging, Have You Considered The Downside?
1	Cars.com Stock Return Comparison
2	Cars.com Total Shareholder Return (TSR): -14.4% in 2022 and 4.1% 3-yr returns (above peer average)

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	8072025	10-Q 6/30/2025
3312025	5082025	10-Q 3/31/2025
12312024	2272025	10-K 12/31/2024
9302024	11072024	10-Q 9/30/2024
6302024	8082024	10-Q 6/30/2024
3312024	5092024	10-Q 3/31/2024
12312023	2222024	10-K 12/31/2023
9302023	11022023	10-Q 9/30/2023
6302023	8032023	10-Q 6/30/2023
3312023	5042023	10-Q 3/31/2023
12312022	2232023	10-K 12/31/2022
9302022	11032022	10-Q 9/30/2022
6302022	8032022	10-Q 6/30/2022
3312022	5062022	10-Q 3/31/2022
12312021	2252022	10-K 12/31/2021

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Cars.com (CARS)

Market Price (12/5/2025): $12.11 | Market Cap: $747.3 MilSector: Communication Services | Industry: Interactive Media & Services

Cars.com (CARS)

Market Price (12/5/2025): $12.11Market Cap: $747.3 MilSector: Communication ServicesIndustry: Interactive Media & Services

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CARS Stock

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Market Price (12/5/2025): $12.11 | Market Cap: $747.3 Mil
Sector: Communication Services | Industry: Interactive Media & Services

Market Price (12/5/2025): $12.11
Market Cap: $747.3 Mil
Sector: Communication Services
Industry: Interactive Media & Services