Key Highlights

  • FY26 Revenue was A$1,253 million, up 6% in Australian dollars and 12% in constant currency.
  • Australia contributed A$519 million of revenue, up 7%, with the remainder from North America, Latin America, Asia and investments.
  • FY27 guidance is revenue growth of 11% to 14% and adjusted EBITDA growth of 10% to 13% in constant currency.
  • About 59% of FY26 revenue was earned outside Australia, so currency movements affect reported growth.

How is CAR Group Limited (ASX:CAR) growing as a Business that began as an Australian car-listings site? The FY26 results show the answer is increasingly overseas: of A$1,253 million in revenue for the year to 30 June 2026, Australia contributed A$519 million, with the remainder coming from North America, Latin America, Asia and investments.

The FY26 result

CAR Group reported on 10 August 2026. Revenue was A$1,253 million, up 6% in Australian dollars and 12% in constant currency, with the proforma comparison excluding the exited Australian Tyres business. The gap between 6% and 12% reflects currency translation, a point worth keeping in mind for a group earning large amounts abroad.

Adjusted Earnings before interest, tax, Depreciation and Amortisation (EBITDA) were A$700 million, up 9% in Australian dollars and 12% in constant currency. Reported EBITDA was A$667 million, up 8%.

Adjusted net profit after tax (NPAT) was A$407 million, up 8% (11% in constant currency), or 107.6 cents per share. Reported NPAT was A$314 million, up 14%, equivalent to 82.9 cents per share. The company said conversion of reported EBITDA into Operating Cash Flow was 100%.

The five reported segments sum to the group figure: A$519 million (Australia), A$327 million (North America), A$251 million (Latin America), A$145 million (Asia) and A$11 million (investments). Australia therefore represents about 41% of group revenue, a useful reminder of how far the business has moved beyond its original market.

What the company does

CAR Group operates online vehicle marketplaces and related services. Revenue is largely from dealers and private sellers paying for listings and advertising, along with data, media, inspection and software products sold to the motor industry. Its flagship Australian Brand is carsales.

The group's structure has widened well beyond that domestic base through investments and acquisitions, with major positions in the United States, Brazil, Chile and South Korea. The business is not simply a listings site: inspection, data and media services broaden the revenue base. Marketplace models tend to benefit from network effects, in which buyers go where the most listings are and sellers go where the most buyers are. The company's results illustrate the model, but they cannot by themselves show how durable it is in each market.

Where growth came from

In Australia, revenue rose 7% to A$519 million and adjusted EBITDA rose 8%. The company launched Nexgate, which it describes as a next-generation dealer platform.

North America, mainly Trader Interactive, delivered revenue of A$327 million, up 6% in Australian dollars and 12% in constant currency, with adjusted EBITDA up 12% in constant currency. Latin America, including Webmotors in Brazil and operations in Chile (and after the exit of the low-margin Car10 Loan factoring business, which partly offset growth), produced revenue of A$251 million, up 22% (19% in constant currency), with adjusted EBITDA up 23% in constant currency.

Asia, centred on Encar in South Korea, recorded revenue of A$145 million, up 7% and 15% in constant currency. The company attributed growth to inspection-based Guarantee products, including Guarantee 2.0, as well as Encar Home Services and Dealer Direct. Investments revenue was A$11 million, up 4%.

Dividends and cash conversion

Cash generation was high relative to profit. The company's 100% conversion of reported EBITDA into operating cash flow means the earnings were backed by cash in the period, which supports the dividend, though conversion can vary from year to year.

The final Dividend was 43.5 cents per share, 30% franked. Full-year dividends totalled 86.0 cents per share, up 8%. The partial franking is worth noting for shareholders who rely on franking credits. The company's release does not explain the franking level, so no inference is drawn here.

FY27 guidance

The company provided guidance on a constant-currency basis relative to FY26. It expects revenue growth of 11% to 14%, adjusted EBITDA growth of 10% to 13% and adjusted NPAT growth of 9% to 12%. By segment, it expects high single-digit revenue growth in Australia and double-digit growth in North America, Latin America and Asia.

Other assumptions include net finance costs of about A$66 million to A$72 million, depreciation and amortisation growth of about 16% to 19%, and an effective tax rate of about 20% to 21%. These are management expectations rather than reported results, and they depend on stated factors including macroeconomic conditions, geopolitical risk, customer demand, Inflation and foreign exchange movements.

Notably, adjusted NPAT growth is guided below revenue growth, which is consistent with the higher depreciation and finance cost assumptions. That is our interpretation rather than a company statement.

AI, electric vehicles and currency

The company positions artificial intelligence as a tool for product development, search and personalisation in Australia and for workflow efficiency in Asia. It launched an AI hub called CG/lab in Brazil. Investors are often concerned about whether AI could change how consumers find vehicles and how dealers acquire customers. The release does not claim to resolve that question, and outcomes remain uncertain.

Electric vehicles are described by the company as both a current contributor and an ongoing opportunity, including through new entrants to the market.

Currency is a second consideration. Because about 59% of FY26 revenue (A$734 million of A$1,253 million) was earned outside Australia, movements in the Australian dollar can widen or narrow the gap between reported and constant-currency growth, as they did in FY26.

Items to monitor

The guidance sets a clear scorecard against which later updates can be read, although guidance can change if conditions shift.

Readers following the company may watch four things. First, delivery against the constant-currency FY27 guidance ranges. Second, the pace of Nexgate adoption among Australian dealers. Third, the contribution of Encar and Webmotors, the fastest-growing areas by constant-currency growth. Fourth, rising depreciation and finance costs, which the company itself flagged.

Regulatory and competitive developments in each country, as well as dealer sentiment in the used-car market, also matter.