Carvana Co. (CVNA) Financial Statements
Industry: Auto Dealers & Gasoline Stations (Retail)
In fiscal 2025, Carvana reported revenue of $20.32B, up 48.6% from $13.67B the year before. Net income was $1.41B (a 6.9% net margin), or $1.69 per diluted share. Gross margin was 20.6% and operating margin was 9.3%. Operating activities generated $1.04B of cash, leaving $889.0M of free cash flow. At fiscal year end, Carvana held $13.20B in total assets against $9.00B in total liabilities, including $2.33B of cash and equivalents.
Open the full interactive Carvana financials → Quarterly statements, key ratios, valuation history and price charts.
Carvana Key Stats
| Share Price | $60.39 |
|---|---|
| Market Cap | $44.69B |
| P/E Ratio | 35.7 |
| Revenue YoY Growth | +48.6% |
| 52-Week Range | $56.26 – $95.69 |
| Shares Outstanding | 717.7 million (basic, 2026 Q2) |
Carvana Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $5.59B | $12.81B | $13.60B | $10.77B | $13.67B | $20.32B |
| Cost of Goods Sold | $4.79B | $10.88B | $12.36B | $9.05B | $10.80B | $16.13B |
| Gross Profit | $793.8M | $1.93B | $1.25B | $1.72B | $2.88B | $4.19B |
| Operating Income | -$332.4M | -$104.0M | -$1.49B | -$72.0M | $990.0M | $1.88B |
| Pre-Tax Income | -$171.4M | -$134.0M | -$1.59B | $475.0M | $206.0M | -$1.38B |
| Income Tax | -$255,000 | $1.0M | $1.0M | $25.0M | -$4.0M | -$2.79B |
| Net Income | -$171.1M | -$135.0M | -$1.59B | $450.0M | $210.0M | $1.41B |
| Diluted EPS | -$0.53 | -$0.33 | -$3.15 | $0.15 | $0.32 | $1.69 |
Carvana Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $5.65B | $5.60B | $6.43B | $7.38B |
| Net Income | $151.0M | $857.0M | $250.0M | $310.0M |
| Diluted EPS | $0.21 | $3.82 | $0.34 | $0.42 |
Carvana Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $300.8M | $403.0M | $434.0M | $530.0M | $1.72B | $2.33B |
| Current Assets | $1.92B | $4.89B | $4.59B | $3.32B | $4.87B | $6.55B |
| Total Assets | $3.03B | $7.01B | $8.70B | $7.07B | $8.48B | $13.20B |
| Current Liabilities | $467.1M | $2.89B | $2.59B | $1.54B | $1.34B | $1.52B |
| Total Long-Term Debt | $1.70B | $5.36B | $8.21B | $6.19B | $5.56B | $5.04B |
| Total Liabilities | $2.23B | $6.49B | $9.75B | $7.46B | $7.11B | $9.00B |
| Shareholders' Equity | $387.6M | $306.0M | -$518.0M | $243.0M | $1.26B | $3.44B |
Carvana Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$608.4M | -$2.59B | -$1.32B | $803.0M | $918.0M | $1.04B |
| Cash From Investing | -$345.9M | -$627.0M | -$2.58B | $31.0M | -$13.0M | -$230.0M |
| Cash From Financing | $1.16B | $3.53B | $3.90B | -$868.0M | $261.0M | -$137.0M |
| Free Cash Flow | -$968.2M | -$3.15B | -$1.84B | $716.0M | $827.0M | $889.0M |
Figures from Carvana's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Carvana financials page for every line item.
Carvana Company Profile
| Ticker | CVNA |
|---|---|
| Exchange | NYSE |
| Industry | Auto Dealers & Gasoline Stations (Retail) |
| Headquarters | Tempe, Arizona |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001690820 |
Frequently Asked Questions
What was Carvana's revenue in fiscal 2025?
Carvana (CVNA) reported revenue of $20.32B for fiscal 2025.
What is Carvana's annual revenue history?
Carvana's annual revenue by fiscal year: 2020: $5.59B; 2021: $12.81B; 2022: $13.60B; 2023: $10.77B; 2024: $13.67B; 2025: $20.32B.
What was Carvana's net income in fiscal 2025?
Carvana reported net income of $1.41B for fiscal 2025.
What was Carvana's earnings per share (EPS) in fiscal 2025?
Carvana's diluted EPS was $1.69 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Carvana generate in fiscal 2025?
Carvana generated $889.0M of free cash flow in fiscal 2025.
What was Carvana's revenue last quarter?
In its most recent reported quarter (2026 Q2), Carvana reported revenue of $7.38B.
How much debt does Carvana have?
Carvana reported $5.04B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Carvana are outstanding?
Carvana reported a weighted average of 717.7 million basic shares outstanding in 2026 Q2.
What is Carvana's market cap?
Based on its latest closing price, Carvana (CVNA) has a market capitalization of about $44.69B.
When does Carvana's fiscal year end?
Carvana's fiscal year end, as registered with the SEC, is December 31.
Where is Carvana headquartered?
Carvana lists its business address in Tempe, Arizona in its SEC filings.