— Know what they know.
/
Not Investment Advice

CVNA

NYSE · USD
Carvana Co.
Consumer Cyclical · Auto - Dealerships
CEO Ernest C. Garcia Employees 23,100 R&D / revenue 0.0%
Last price
$58.83−2.95%last session
Market cap
$64.5B
P/E (TTM)
20.3x
From 52w high
−39.6%
From 52w low
+8.0%
1-year return
−14.7%
RSI 14 · vs SMA200
38.2 · −16.7%
IS score
60.6/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

CVNA   SPY   XLY (sector ETF) · weekly closes
100120140Jan 26Apr 26Jul 26Oct 26SPY 116XLY 97CVNA 85

Score DNA

Each bar is a 0-100 score within the scored universe
48
Profitability
82
Growth
37
Value
83
Momentum
100
Risk (safety)
54
Quality
48
Balance sheet
72
Earnings quality

Flags

Strengths
✓ Insider buying✓ Congress buying
Warnings
▲ Beneish M above -1.78▲ Share count rising
Observations
Moat model: Weak, Efficient ScalePiotroski 5 / 9Altman Z 5.3Beta 3.504 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
4
$3.09M bought
Form 144 notices (12m): 53, $1.8B proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
4
Last disclosed purchase 2026-09-11
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+39
148 new holders, 105 closed
819 filers hold 103.9% · 648 added, 19 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+191
921 funds adding shares
730 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
65.7%
20-day avg 60.6%, 50-day avg 58.5%
Latest 5.1 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$20.3B
Revenue growth YoY+48.6%
Gross margin20.6%
Operating income$1.9B
Operating margin9.3%
Net income$1.4B
Net margin6.9%
EPS (diluted)$8.45
Cash flow
Operating cash flow$1.0B
Capital expenditure$147.0M
Free cash flow$889.0M
FCF conversion (FCF / OCF)85.8%
Stock-based compensation$96.0M
FCF less SBC$793.0M
Buybacks$0
Dividends$0
Balance sheet & returns
Cash & short-term investments$2.3B
Total debt$633.0M
Net cash$1.7B
Shareholders' equity$4.2B
Goodwill & intangibles$57.0M
Debt / equity1.40
ROE (TTM)46.6%
ROIC (TTM)-66.9%
Operating margin by fiscal year
-0.8%FY2021-11.0%FY2022-0.6%FY20237.3%FY20249.3%FY2025
Revenue $12.8B (FY2021) to $20.3B (FY2025), a 12.2% CAGR.

Valuation

P/E (TTM)20.3x
EV / EBITDA475.5x
Price / sales2.58x
Price / FCF69.5x
FCF yield1.44%
Buyback yield0.00%
SBC / revenue0.3%
Price / book10.48x
Forward P/E FY202636.3x
Forward P/E FY202726.7x
Forward P/E FY202821.5x
Forward multiples divide today's price by Street EPS estimates. Street mean target $83.88 across 17 analysts last quarter is theirs, not ours.

CVNA vs industry median

50 companies in Auto - Dealerships
Gross margin 19.4% 16.1% Operating margin 8.9% 2.1% Net margin 6.3% 0.8% ROIC -66.9% 3.5%
CVNA (TTM)Industry median Asset turnover 1.72 vs industry 1.51 · financial leverage 3.61

Earnings delivery

Next report 2026-10-28 · consensus EPS $0.44
83%
beat rate, 10 of 12 quarters
+66.4%
median EPS surprise
6
longest beat streak
+127-5+39+300+167+94+106+9-21+270+7+9
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-07-29. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
CVNA Carvana Co. $64.5B20.3x46.6%6.3%+48.6% −14.7%
PAG Penske Automotive Group, Inc $13.9B15.6x16.4%3.1%+7.7% +26.6%
KMX CarMax, Inc. $7.6B25.0x4.7%2.1%+3.0% +23.2%
LAD Lithia Motors, Inc. $6.5B9.7x10.7%2.7%+2.1% −3.4%
ORLY O'Reilly Automotive, Inc. $72.2B28.2x-172.8%14.6%+8.5% −11.8%
SE Sea Limited $57.4B34.6x14.5%5.7%+43.1% —
GM General Motors Company $73.7B42.0x3.0%2.7%−1.1% —
RCL Royal Caribbean Cruises Ltd. $74.3B17.1x45.4%23.3%+8.7% —
12-month window: SPY +15.9%, sector ETF XLY −3.2%. Past returns describe history only.

Recent 8-K filings

2026-08-14Material Agreement; Financial Obligation; Exhibits
2026-07-29Earnings Release; Exhibits
2026-05-06Officer/Director Change; Bylaws Amendment; Shareholder Vote; Exhibits
2026-04-29Earnings Release; Exhibits
2026-02-18Results of Operations and Financial Condition; Financial Statements and Exhibits
2025-10-29Results of Operations and Financial Condition; Financial Statements and Exhibits

Context

Shares outstanding1,096,835,667
Free float91.3%
Institutional ownership103.9%
Beta3.50
Dividend yield0.00%
Last dividendNone on file
50 / 200-day average$68.17 / $70.73
Large-cap Consumer Cyclical median P/E24.3x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where CVNA sits among 15 scored companies in Auto - Dealerships (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureCVNAIndustry medianIndustry percentileSector median
P/E (TTM) 41.2x 14.9x
100th		 17.7x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 2.6x 0.7x
93rd		 1.0x
Price / book 16.0x 2.4x
100th		 2.4x
Price / tangible book 12.3x 6.8x
75th		 4.2x
Price / free cash flow 69.5x 29.2x
83rd		 15.2x
Price / operating cash flow 57.6x 9.9x
93rd		 10.2x
Enterprise value $67.0B $8.1B
100th		 $5.6B
EV / sales 2.7x 0.9x
86th		 1.4x
EV / EBITDA 471.9x 13.0x
100th		 11.4x
EV / EBIT —
EV / free cash flow 72.1x 43.7x
83rd		 21.0x
Earnings yield 2.4% 5.0%
14th		 4.8%
FCF yield 1.4% 3.4%
29th		 5.9%
Operating cash flow yield 1.7% 10.1%
7th		 9.3%
Graham number (per share) $16.11 $46.50
17th		 $33.39

Profitability (TTM)

MeasureCVNAIndustry medianIndustry percentileSector median
Gross margin 19.4% 19.0%
64th		 34.2%
EBITDA margin 0.6% 5.8%
7th		 11.7%
Operating margin 8.9% 5.0%
79th		 8.7%
EBIT margin -0.5% 4.7%
7th		 8.2%
Net margin 6.3% 2.8%
86th		 4.9%
NOPAT margin 7.1% 3.5%
79th		 6.8%
FCF margin 3.7% 1.7%
64th		 6.5%
Operating cash flow margin 4.5% 4.5%
43rd		 10.4%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 10.4% 12.3%
7th		 17.2%
Stock comp / revenue 0.3% 0.2%
64th		 0.6%
Effective tax rate 21.0% 25.2%
31st		 22.4%

Returns on capital

MeasureCVNAIndustry medianIndustry percentileSector median
ROE (on average equity) 54.5% 11.8%
100th		 12.8%
ROA 13.1% 3.4%
100th		 4.4%
ROIC 27.1% 7.1%
100th		 9.3%
ROCE -1.0% 10.4%
7th		 9.9%
Return on tangible assets -1.1% 6.8%
7th		 7.4%
Cash ROIC (OCF / invested capital) 17.2% 8.6%
79th		 14.4%
Gross profitability (GP / assets) 33.4% 28.7%
79th		 31.6%
ROIC, 3-yr average 42.4% 5.9%
100th		 7.4%
ROIC, 5-yr average —
ROE, 5-yr average —
Incremental ROIC 73.1% 20.1%
100th		 11.2%

Growth

MeasureCVNAIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 54.0% 3.0%
100th		 6.0%
Revenue growth (QoQ) 14.7% 5.8%
100th		 6.6%
Revenue CAGR, 3 yr 28.5% 4.6%
100th		 3.0%
Revenue CAGR, 5 yr 22.9% 7.7%
92nd		 5.9%
Gross profit CAGR, 3 yr 63.5% 1.8%
100th		 3.3%
Operating income CAGR, 3 yr —
Net income growth (TTM YoY) 178.5% -7.5%
100th		 4.7%
Net income CAGR, 3 yr —
EPS growth (TTM YoY) -46.1% -6.1%
10th		 7.6%
EPS CAGR, 3 yr —
EPS CAGR, 5 yr —
FCF growth (TTM YoY) 51.1% -24.3%
67th		 26.3%
FCF CAGR, 3 yr —
Operating cash flow CAGR, 3 yr —
Book value CAGR, 3 yr —
Dividend CAGR, 3 yr —
Sustainable growth rate 54.5% 9.9%
100th		 12.2%

Margin history & stability

MeasureCVNAIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 19.2% 17.9%
58th		 34.9%
Operating margin, 3-yr average 7.2% 4.2%
92nd		 8.0%
Net margin, 3-yr average 5.3% 2.6%
92nd		 4.8%
FCF margin, 3-yr average 4.6% 2.1%
100th		 5.7%
Revenue stability (0-1) 0.76 0.86
42nd		 0.80
Earnings stability (0-1) 0.52 0.11
92nd		 0.43
Margin stability (0-1) 0.72 0.96
0th		 0.92

Liquidity (latest quarter)

MeasureCVNAIndustry medianIndustry percentileSector median
Cash & short-term investments $3.1B $170.5M
100th		 $278.1M
Net cash (− = net debt) −$2.5B −$2.5B
50th		 −$1.2B
Working capital $6.0B $71.4M
100th		 $298.0M
Current ratio 3.93 1.02
100th		 1.49
Quick ratio 2.33 0.38
100th		 0.92
Cash ratio (cash + ST investments / current liabilities) 1.54 0.07
100th		 0.31
Defensive interval (days) 646 days 168 days
93rd		 290 days

Leverage & solvency (latest quarter)

MeasureCVNAIndustry medianIndustry percentileSector median
Total debt $5.6B $4.7B
64th		 $1.8B
Debt / equity 1.40 1.59
36th		 1.04
Net debt / equity 0.62 1.57
29th		 0.78
Debt / assets 38.6% 50.0%
29th		 39.7%
Debt / capital 58.3% 61.3%
36th		 51.0%
Debt / EBITDA 39.58 6.16
100th		 3.26
Net debt / EBITDA 17.53 5.88
100th		 2.42
Interest coverage (EBIT / interest) −0.3x 2.9x
7th		 5.1x
Cash interest coverage 2.6x 3.1x
36th		 6.0x
Debt payback (years of OCF) 5.0 yrs 7.0 yrs
31st		 3.8 yrs
Liabilities / assets 64.7% 68.6%
29th		 68.1%
IS credit model rating BBB — —
Implied credit spread (bps) 275 475
14th		 275

Efficiency

MeasureCVNAIndustry medianIndustry percentileSector median
Asset turnover 2.10 1.54
86th		 1.00
Fixed asset turnover 7.63 6.12
86th		 3.73
Inventory turnover 7.6 6.9
75th		 5.3
Receivables turnover 71.9 31.3
86th		 19.9
Days sales outstanding 5 days 12 days
14th		 18 days
Days inventory outstanding 48 days 53 days
25th		 68 days
Days payables outstanding 16 days 19 days
43rd		 42 days
Cash conversion cycle (days) 37 days 40 days
43rd		 44 days
Capex / revenue 0.8% 1.6%
0th		 3.1%
Capex / depreciation 0.70 1.39
21st		 0.89
Operating expense ratio 9.5% 13.2%
14th		 24.8%

Cash flow & earnings quality

MeasureCVNAIndustry medianIndustry percentileSector median
Operating cash flow / net income 0.71 1.75
17th		 1.76
FCF / net income 0.59 0.59
50th		 1.18
FCF / operating cash flow 82.9% 42.8%
86th		 70.1%
Capex / operating cash flow 17.1% 57.2%
14th		 29.9%
Accruals ratio 3.7% -3.6%
100th		 -5.7%
Sloan accruals ratio 12.0% -3.7%
100th		 -3.6%
Earnings quality score (0-1) 0.50 0.75
17th		 0.75

Dividends & buybacks

MeasureCVNAIndustry medianIndustry percentileSector median
Dividend yield 0.0% 0.0%
0th		 0.8%
Dividend per share (TTM) $0.00 $0.00
0th		 $0.40
Payout ratio (dividends / net income) 0.0% 6.9%
0th		 17.8%
Dividends / FCF 0.0% 0.0%
0th		 11.6%
Dividend growth (YoY) —
Buyback yield 0.1% 2.8%
21st		 1.6%
Shareholder yield (dividends + buybacks) 0.1% 3.3%
14th		 3.7%
Share count change (YoY) 416.6% -1.5%
100th		 -0.9%
Buybacks, last 5 years $38.0M $515.9M
29th		 $198.3M

Scores & forensic checks

MeasureCVNAIndustry medianIndustry percentileSector median
IS score 61 41
100th		 50
IS profitability 48 27
86th		 38
IS growth 82 36
100th		 53
IS value 37 59
14th		 50
IS momentum 83 60
100th		 72
IS risk (safety) 100 65
86th		 65
IS quality 54 49
64th		 63
IS balance sheet 48 28
71st		 48
IS earnings quality 72 77
36th		 77
IS cash flow 50 33
71st		 56
Piotroski F-score (0-9) 5 5
50th		 6
Altman Z-score 5.3 2.6
100th		 2.8
Beneish M-score 1.37 −2.55
100th		 −2.69
Ohlson O-score −8.23 −6.53
14th		 −6.83
IS credit score 57 44
86th		 58

Per share

MeasureCVNAIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $2.12 $3.31
43rd		 $2.05
Book value per share $5.44 $31.95
21st		 $14.46
Tangible book per share $7.07 $0.92
64th		 $3.70
Revenue per share $33.86 $100.02
29th		 $46.29
FCF per share $1.26 $1.56
43rd		 $2.72
Operating cash flow per share $1.51 $8.68
14th		 $4.86
Cash per share $4.23 $1.62
86th		 $3.59

Size (TTM)

MeasureCVNAIndustry medianIndustry percentileSector median
Market cap $64.5B $4.5B
100th		 $3.6B
Revenue $25.1B $15.5B
71st		 $3.9B
EBITDA $142.0M $582.6M
7th		 $442.3M
Net income $1.6B $265.2M
100th		 $178.6M
Free cash flow $929.0M $135.3M
93rd		 $206.3M
Total assets $14.6B $6.4B
71st		 $4.4B
Shareholders' equity $4.0B $2.3B
79th		 $957.6M
Employees 23,100 13,424
71st		 12,300

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-12Taira Thomas
President, Special Projects
 Open-market sale 5,597$65.00$363,805357,442
2026-10-01Keeton Ryan S.
Chief Brand Officer
 Tax withholding 2,883$63.04$181,744426,627
2026-10-01Garcia Ernest C. Iii
Director, 10 percent owner, Chief Execut
 Tax withholding 7,067$63.04$445,5044,709,732
2026-10-01Palmer Stephen R
Vice President of Accounting
 Tax withholding 3,021$63.04$190,444125,865
2026-10-01Palmer Stephen R
Vice President of Accounting
 Open-market sale 920$59.48$54,722124,945
2026-10-01Palmer Stephen R
Vice President of Accounting
 Open-market sale 840$60.75$51,030124,105
2026-10-01Palmer Stephen R
Vice President of Accounting
 Open-market sale 920$61.64$56,709123,185
2026-10-01Palmer Stephen R
Vice President of Accounting
 Open-market sale 2,320$62.82$145,742120,865
2026-10-01Huston Benjamin E.
Chief Operating Officer
 Tax withholding 7,016$63.04$442,289471,677
2026-10-01Breaux Paul W.
See Remarks
 Tax withholding 4,453$63.04$280,717422,030
2026-10-01Jenkins Mark W.
Chief Financial Officer
 Tax withholding 7,016$63.04$442,2891,142,502
2026-10-01Jenkins Mark W.
Chief Financial Officer
 Open-market sale 10,440$59.44$620,5541,195,812

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired14870,408—
Open-market buyAcquired450,000$3.1M
Open-market saleDisposed1084,675,123$2.0B
Option exerciseDisposed722,750$324,438
Option exerciseAcquired422,750$324,438
Tax withholdingDisposed55278,135$39.1M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 53 notices · 5,186,816 shares · $1.8B
FiledFilerShares proposedEst. proceeds
2026-10-13Thomas Taira5,597$356,697
2026-10-01Mark Jenkins63,750$4.0M
2026-09-14Thomas Taira16,789$1.2M
2026-09-01Bhjc Trust50,000$3.7M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 15 trades (9 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-11Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-09-04Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-07-07Ro KhannaHousePurchase$1,001 - $15,0002026-08-12
2026-05-15Gilbert CisnerosHouseSale$1,001 - $15,0002026-06-09
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
PRICE T ROWE ASSOCIATES INC /MD/84,695,539$5.6B7.72%
Capital Research Global Investors63,423,386$4.2B5.78%
BlackRock, Inc.48,494,910$3.2B4.42%
VANGUARD CAPITAL MANAGEMENT LLC45,590,117$3.0B4.16%
FMR LLC33,604,708$2.2B3.06%
VANGUARD PORTFOLIO MANAGEMENT LLC32,154,471$2.1B2.93%
STATE STREET CORP29,435,364$1.9B2.68%
Capital International Investors23,257,742$1.5B2.12%
CAS Investment Partners, LLC22,559,570$1.5B2.06%
GREENOAKS LLC21,344,170$1.4B1.95%
GEODE CAPITAL MANAGEMENT, LLC16,653,349$1.1B1.52%
Capital World Investors14,200,258$934.7M1.29%
Aspex Management10,891,999$716.9M0.99%
Lingotto Investment Management LLP9,283,819$611.1M0.85%
SANDS CAPITAL MANAGEMENT, LLC8,462,945$557.0M0.77%

Institutional ownership by quarter

2023-092026-06103.9%
% of shares held by 13F filers
2023-092026-06819
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-30819103.9%14864819105
2026-03-31780524.7%112305277172
2025-12-31855509.5%202326251110
2025-09-30777473.5%12832323686
2025-06-30745460.7%20028920167
2025-03-31616429.7%12623818683
2024-12-31587437.8%15920417653
2024-09-30489415.5%11917215138
2024-06-30411406.2%11013312529
2024-03-31335405.5%799811335
2023-12-31293415.2%711017530
2023-09-30256385.7%58699047

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-08-12SCHEDULE 13G/ACapital Research Global Investors8.9%63,427,023
2026-05-14SCHEDULE 13GCapital Research Global Investors7.6%10,850,975
2026-05-06SCHEDULE 13GAbigail P. Johnson5.2%7,446,815
2026-05-01SCHEDULE 13D/AErnest C. Garcia II22.9%42,442,317
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.06%$1.4B
VTSAX0.06%$1.4B
VTI0.06%$1.4B
VSMPX0.06%$1.4B
VOO0.07%$1.2B
VFIAX0.07%$1.2B

Share structure

Shares outstanding1,096,835,667
Float1,001,564,520
Free float91.3%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$12.8B$13.6B$10.8B$13.7B$20.3B
Cost of revenue$11.0B$12.6B$9.2B$11.0B$16.1B
Gross profit$1.8B$1.0B$1.5B$2.7B$4.2B
R&D$0$0$0$0$0
SG&A$1.9B$2.5B$1.6B$1.7B$2.3B
Operating income−$104.0M−$1.5B−$65.0M$1.0B$1.9B
EBITDA−$5.0M−$2.1B$1.2B$1.4B−$110.0M
Pretax income−$286.0M−$2.9B$175.0M$400.0M−$890.0M
Income tax$1.0M$1.0M$25.0M−$4.0M−$2.8B
Net income−$135.0M−$1.6B$450.0M$210.0M$1.4B
EPS, diluted$-1.63$-15.74$4.12$1.59$8.45
Diluted shares82.8M100.8M109.3M132.2M224.3M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$403.0M$755.0M$896.0M$2.2B$2.3B
Receivables$206.0M$253.0M$266.0M$303.0M$245.0M
Inventory$3.1B$1.9B$1.1B$1.6B$2.4B
Total current assets$4.9B$4.6B$3.3B$4.9B$6.5B
PP&E, net$1.9B$3.8B$3.4B$3.2B$3.3B
Goodwill & intangibles$13.0M$70.0M$52.0M$34.0M$57.0M
Total assets$7.0B$8.7B$7.1B$8.5B$13.2B
Accounts payable$114.0M$216.0M$231.0M$236.0M$0
Total current liabilities$2.9B$2.6B$1.5B$1.3B$1.5B
Long-term debt$3.2B$6.6B$5.4B$5.3B$406.0M
Total liabilities$6.5B$9.8B$7.5B$7.1B$9.0B
Shareholders' equity$525.0M−$1.1B−$384.0M$1.4B$4.2B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income−$287.0M−$2.9B$150.0M$404.0M$1.9B
Depreciation & amortization$105.0M$261.0M$352.0M$305.0M$275.0M
Stock-based compensation$39.0M$69.0M$73.0M$91.0M$96.0M
Change in working capital−$2.1B$1.4B$564.0M−$177.0M−$480.0M
Operating cash flow−$2.6B−$1.3B$803.0M$918.0M$1.0B
Capital expenditure−$557.0M−$512.0M−$87.0M−$91.0M−$147.0M
Free cash flow−$3.2B−$1.8B$716.0M$827.0M$889.0M
Investing cash flow−$627.0M−$2.6B$31.0M−$13.0M−$230.0M
Net debt issued / repaid$3.6B$2.8B−$1.2B−$987.0M−$670.0M
Buybacks−$40.0M$0$0$0$0
Dividends paid$0$0$0$0$0

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin14.3%7.4%13.9%19.8%20.2%
Operating margin-0.8%-11.0%-0.6%7.3%9.3%
Net margin-1.1%-11.7%4.2%1.5%6.9%
FCF margin-24.6%-13.5%6.6%6.0%4.4%
ROE-38.9%1,497.2%-327.3%27.9%59.9%
ROIC-1.4%-15.6%-1.0%19.7%85.1%
ROA-2.7%-20.2%5.7%2.7%13.0%
Debt / equity18.87-17.0227.604.800.18
Interest coveragen/mn/m1.3x1.6xn/m
Current ratio1.691.772.163.644.31
Revenue growth+129.4%+6.2%−20.8%+26.9%+48.6%
EPS growth+33.6%−865.0%+126.3%−61.9%−16.9%
P/E at year endn/mn/m2.7x27.1x67.6x
EV / EBITDA at year endn/mn/m6.1x7.0xn/m
FCF yield at year end-78.18%-1,828.65%59.25%14.54%0.93%
Dividend payout——0.0%0.0%0.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Used Vehicle Sales$9.9B$10.3B$7.5B$9.7B$14.5B
Wholesale Vehicle Sales$1.9B$2.6B———
Product and Service, Other$1.0B$741.0M$753.0M$1.2B$1.7B

Street estimates by fiscal year

Next report 2026-10-28 · consensus EPS $0.44 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$29.0B$28.2B – $30.2B$1.62$1.57 – $1.80936.3x
2027$36.5B$34.4B – $39.4B$2.20$2.11 – $2.341126.7x
2028$44.9B$38.7B – $51.7B$2.73$2.41 – $3.00721.5x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-29$0.39$0.42+8.6%$6.9B$7.4B+6.9%
2026-04-29$0.32$0.34+7.4%$6.1B$6.4B+5.1%
2026-02-18$1.14$4.22+270.2%$5.3B$5.6B+6.3%
2025-10-29$1.30$1.03−20.8%$5.1B$5.6B+10.5%
2025-07-30$1.17$1.28+9.4%$4.6B$4.8B+5.7%
2025-05-07$0.73$1.51+106.0%$4.0B$4.2B+5.8%
2025-02-19$0.29$0.56+93.9%$3.3B$3.5B+7.0%
2024-10-30$0.24$0.64+166.7%$3.5B$3.7B+5.3%
2024-07-31$-0.07$0.14+300.0%$3.3B$3.4B+4.6%
2024-05-01$-0.67$-0.41+39.0%$2.7B$3.1B+13.5%
2024-02-22$-0.95$-1.00−5.3%$2.5B$2.4B−4.2%
2023-11-02$-0.85$0.23+127.1%$2.8B$2.8B+0.4%
2023-07-19$-1.13$-0.55+51.3%$2.7B$3.0B+8.5%
2023-05-04$-1.87$-1.51+19.3%$2.6B$2.6B+0.0%
2023-02-23$-2.30$-0.97+57.8%$3.1B$2.8B−7.4%
2022-11-03$-2.02$-2.67−32.2%$3.7B$3.4B−8.5%
2022-08-04$-1.81$-2.35−29.8%$4.0B$3.9B−2.2%
2022-04-20$-1.72$-2.89−68.0%$3.4B$3.5B+3.0%
2022-02-24$-0.79$-1.02−29.1%$3.5B$3.8B+6.8%
2021-11-04$-0.28$-0.38−35.7%$3.2B$3.5B+8.1%
2021-08-05$-0.39$0.26+166.7%$2.5B$3.3B+35.7%
2021-05-06$-0.70$-0.46+34.3%$1.8B$2.2B+22.9%
2021-02-25$-0.48$-0.41+14.6%$1.5B$1.8B+20.6%
2020-10-29$-0.30$-0.10+66.7%$4.9B$1.5B−68.8%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
1.106-151.106-220.806-290.607-060.707-130.907-201.707-270.808-030.608-101.108-170.708-240.508-31
Week ofNotionalSharesTrades
2026-08-31$484.8M6,605,537143,134
2026-08-24$700.7M9,481,707162,339
2026-08-17$1.1B15,340,997241,135
2026-08-10$645.3M8,848,414171,061
2026-08-03$849.4M12,411,728203,226
2026-07-27$1.7B26,543,509310,288

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1565.7%
DateShort shareShort volumeTotal volume
2026-10-1565.7%2,877,3194,376,526
2026-10-1466.0%3,870,6385,868,012
2026-10-1355.3%2,095,1853,790,431
2026-10-1252.3%1,808,3613,457,720
2026-10-0946.1%1,010,9032,192,828
2026-10-0845.7%1,161,3442,540,026
2026-10-0750.2%1,232,2272,452,625
2026-10-0651.4%945,9001,841,714
2026-10-0561.7%1,355,9412,196,760
2026-10-0267.0%1,919,0202,866,020
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+12.4Jan+5.9Feb-1.1Mar+4.1Apr+8.4May+33.0Jun+18.5Jul+13.6Aug-9.7Sep-10.3Oct+6.0Nov-3.7Dec
MonthAvg returnUp yearsYears
Jan+12.4%67%9
Feb+5.9%44%9
Mar−1.1%44%9
Apr+4.1%56%9
May+8.4%56%9
Jun+33.0%89%9
Jul+18.5%89%9
Aug+13.6%78%9
Sep−9.7%22%9
Oct−10.3%33%9
Nov+6.0%67%9
Dec−3.7%44%9
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1438.2
MFI38.7
ADX25.3
Stochastic %K / %D29.3 / 25.5
Williams %R-73.8
CCI-114
TSI / signal-21.1 / -17.5
Chaikin money flow-0.02
ATR$3.27
Bollinger width14.6%
Volume vs 20-day avg0.98x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$62.69 (−6.2%)
SMA 50$67.98 (−13.5%)
SMA 200$70.59 (−16.7%)
EMA 21$62.94 (−6.5%)
EMA 50$65.65 (−10.4%)
EMA 200$68.27 (−13.8%)
Bollinger upper$67.27 (−12.5%)
Bollinger lower$58.11 (+1.2%)
Parabolic SAR$64.50 (−8.8%)
Open the live chart, 110+ indicators

About Carvana Co.

Carvana Co., along with its subsidiaries, operates a digital platform facilitating the purchase and sale of pre-owned vehicles across the United States. Their comprehensive services span the entire customer journey, including sourcing and reconditioning automobiles, providing an intuitive online browsing and transaction experience, offering financing solutions, and supplying complementary products. The company also manages its own specialized logistics network for distinctive delivery and pickup options, alongside providing extensive post-sale support. Furthermore, Carvana operates various vehicle auction sites. This company was established in 2012 and maintains its headquarters in Tempe, Arizona.

https://www.carvana.com

Key executives

NameTitlePayBorn
Mark JenkinsChief Financial Officer$976,0821979
Benjamin HustonCo-Founder & Chief Operating Officer$974,1781983
Ernest C. GarciaCo-Founder, President, Chief Executive Officer & Chairman$963,4341983
Daniel GillChief Product Officer$876,8371983
Thomas TairaPresident of Special Projects$845,8941971
Paul BreauxVice President, General Counsel, Secretary & Chief Compliance Officer$594,4241984
Ryan S. KeetonCo-Founder & Chief Brand Officer$544,5221978
Michael McKeeverHead of Capital Markets, Investor Relations and Treasury——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Ernest Garcia III Chief Executive Officer2021$757,500$1.1M$0$5.1M
Mark Jenkins Chief Financial Officer2021$742,500$1.1M$0$5.0M
Benjamin Huston Chief Operating Officer2021$742,500$1.1M$0$5.0M
Daniel Gill Chief Product Officer2021$667,500$945,880$0$4.5M
Tom Taira President, Special Projects2021$877,500$593,284$0$3.3M

Employees

4k20187k201910k202021k202117k202214k202317k202423k2025

Dividends

Ex-dateAmountPaid
None on file.

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage70
Intangibles37
Switching costs40
Network effect60
Efficient scale75
Our component scores (0-100) and overall 53.5; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms