Carvana financials
$63.62+5.21%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.32B | $13.67B | $10.77B | $13.60B | $12.81B | $5.59B | $3.94B | $1.96B | $858.9M |
| Gross profit | $4.19B | $2.88B | $1.72B | $1.25B | $1.93B | $794.0M | $507.0M | $196.7M | $68.1M |
| Gross margin | 20.6% | 21.0% | 16.0% | 9.2% | 15.1% | 14.2% | 12.9% | 10.1% | 7.9% |
| Operating income | $1.88B | $990.0M | -$80.0M | -$2.35B | -$104.0M | -$332.0M | -$280.0M | -$228.5M | -$155.3M |
| Net income | $1.41B | $210.0M | $450.0M | -$1.59B | -$135.0M | -$171.0M | -$115.0M | -$61.1M | -$20.0M |
| Net margin | 6.9% | 1.5% | 4.2% | −11.7% | −1.1% | −3.1% | −2.9% | −3.1% | −2.3% |
| Diluted EPS | $8.45 | $1.59 | $0.75 | $-15.74 | $-1.63 | $-2.63 | $-2.45 | $-2.03 | $-1.31 |
| EBITDA | $2.16B | $1.29B | $272.0M | -$1.24B | $1.0M | -$258.0M | -$239.0M | -$205.0M | -$143.7M |
| Operating cash flow | $1.04B | $918.0M | $803.0M | -$1.32B | -$2.59B | -$608.0M | -$757.0M | -$414.3M | -$199.9M |
| Free cash flow | $889.0M | $827.0M | $716.0M | -$1.84B | -$3.15B | -$968.0M | -$988.0M | -$558.0M | -$278.4M |
| Diluted shares | 224.3M | 132.2M | 200.6M | 100.8M | 82.8M | 65.0M | 46.8M | 30.0M | 15.2M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $2.33B | $1.72B | $530.0M | $434.0M | $403.0M | $301.0M |
| Short-term investments | $486.0M | $0.00 | $366.0M | $321.0M | $382.0M | $131.0M |
| Total debt | $5.12B | $5.63B | $6.27B | $8.31B | $5.41B | $1.72B |
| Total assets | $13.20B | $8.48B | $7.07B | $8.70B | $7.01B | $3.04B |
| Total liabilities | $9.00B | $7.11B | $7.46B | $9.75B | $6.49B | $2.23B |
| Shareholders' equity | $4.20B | $1.38B | -$384.0M | -$1.05B | $525.0M | $802.0M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology