Consumer Cyclical · Auto - Dealerships
Price
$62.31
Market Cap
$68.3B
Employees
23,100
Beta
3.45
Avg Volume
12,201,624
CEO
Ernest C. Garcia
Business Description
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.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
30.54
Stock Price: $62.31
EPS (Diluted): 2.04
EPS (Diluted): 2.04
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
16.88
Stock Price: $62.31
Total Equity: $3.44B
Shares: 1,121,385,000
Total Equity: $3.44B
Shares: 1,121,385,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-810.04
Market Cap: $68.34B
Total Debt: $633.00M
Cash: $2.33B
EBITDA: -$110.00M
Total Debt: $633.00M
Cash: $2.33B
EBITDA: -$110.00M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$89.1B
Market Cap: $68.34B
Total Debt: $633.00M
Cash: $2.33B
Total Debt: $633.00M
Cash: $2.33B
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
20.6%
Gross Profit: $4.19B
Revenue: $20.32B
Revenue: $20.32B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
9.3%
Operating Income: $1.88B
Revenue: $20.32B
Revenue: $20.32B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
6.9%
Net Income: $1.41B
Revenue: $20.32B
Revenue: $20.32B
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
40.9%
Net Income: $1.41B
Total Equity: $3.44B
Total Equity: $3.44B
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
-229.3%
Operating Income: $1.88B
Tax Rate: 312.9%
Equity: $3.44B
Total Debt: $633.00M
Cash: $2.33B
Tax Rate: 312.9%
Equity: $3.44B
Total Debt: $633.00M
Cash: $2.33B
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
4.31
Current Assets: $6.55B
Current Liabilities: $1.52B
Current Liabilities: $1.52B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.18
Short-Term Debt: $227.00M
Long-Term Debt: $406.00M
Total Debt: $633.00M
Total Equity: $3.44B
Long-Term Debt: $406.00M
Total Debt: $633.00M
Total Equity: $3.44B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$18.12
Revenue: $20.32B
Shares: 1,121,385,000
Shares: 1,121,385,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$3.07
Total Equity: $3.44B
Shares: 1,121,385,000
Shares: 1,121,385,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$0.79
Operating CF: $1.04B
CapEx: -$147.00M
Shares: 1,121,385,000
CapEx: -$147.00M
Shares: 1,121,385,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $62.31
Stock Price: $62.31
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $1.41B
Net Income: $1.41B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares CVNA against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 12:31pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $12.8B | $13.6B | $10.8B | $13.7B | $20.3B |
| Cost of Revenue | $11.0B | $12.6B | $9.0B | $11.0B | $16.1B |
| Gross Profit | $1.8B | $1.0B | $1.7B | $2.7B | $4.2B |
| Operating Expenses | $1.9B | $2.5B | $1.8B | $1.7B | $2.3B |
| Operating Income | -$104.0M | -$1.5B | -$80.0M | $1.0B | $1.9B |
| Net Income | -$135.0M | -$1.6B | $450.0M | $210.0M | $1.4B |
| EBITDA | -$5.0M | -$2.1B | $1.2B | $1.4B | -$110.0M |
| EPS | $-0.33 | $-3.15 | $0.82 | $0.34 | $2.04 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 12:31pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $403.0M | $434.0M | $530.0M | $1.7B | $2.3B |
| Total Current Assets | $4.9B | $4.6B | $3.3B | $4.9B | $6.5B |
| Total Assets | $7.0B | $8.7B | $7.1B | $8.5B | $13.2B |
| 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 |
| Total Equity | $306.0M | -$518.0M | $243.0M | $1.3B | $3.4B |
| Retained Earnings | -$489.0M | -$2.1B | -$1.6B | -$1.4B | -$9.0M |
Cash Flow (Annual)
Last updated: Jun 21, 2026 12:31pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| 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 |
| Acquisitions (net) | -$56.0M | -$2.2B | -$7.0M | $11.0M | -$160.0M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$40.0M | $0 | $0 | $0 | $0 |
| Net Change in Cash | $307.0M | -$8.0M | -$34.0M | $1.2B | $669.0M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 11:22pm (10h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$35.0B $28.9B – $37.7B
|
$42.5B $42.4B – $42.5B
|
$49.1B $43.8B – $52.3B
|
$56.1B $50.0B – $59.8B
|
| EBITDA |
$302.2M $249.5M – $325.5M
|
$367.3M $366.9M – $367.7M
|
$424.8M $378.7M – $452.5M
|
$485.1M $432.4M – $516.7M
|
| Net Income |
$2.3B $1.7B – $2.8B
|
$2.9B $2.8B – $4.3B
|
$3.0B $2.6B – $3.2B
|
$3.3B $2.8B – $3.6B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 12:31pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +6.2% | -20.8% | +26.9% | +48.6% |
| Gross Profit Growth | -45.2% | +72.2% | +57.3% | +54.6% |
| Operating Income Growth | -1,332.7% | +94.6% | +1,352.5% | +87.7% |
| Net Income Growth | -1,075.6% | +128.4% | -53.3% | +570.0% |
| EBITDA Growth | -42,820.0% | +154.0% | +17.0% | -108.1% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for CVNA — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30