Carvana Co. (CVNA)

CVNA Income Statement

Revenue, expenses, and profitability analysis

CVNA Quarterly Income Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Revenue	22.522B	6.432B	5.603B	5.647B	4.840B	4.232B	3.547B	3.655B	3.410B
Cost of Goods Sold	18.025B	5.161B	4.552B	4.499B	3.813B	3.345B	2.825B	2.888B	2.736B
Gross Profit	4.497B	1.271B	1.051B	1.148B	1.027B	887.000M	722.000M	767.000M	674.000M
Gross Profit Margin	19.8%	19.8%	18.8%	20.3%	21.2%	21.0%	20.4%	21.0%	19.8%
Total Operating Expenses	2.427B	690.000M	627.000M	596.000M	514.000M	493.000M	453.000M	429.000M	414.000M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	2.463B	690.000M	627.000M	595.000M	551.000M	535.000M	329.000M	469.000M	455.000M
Operating Income (EBIT)	2.070B	581.000M	424.000M	552.000M	513.000M	394.000M	269.000M	338.000M	260.000M
Operating Margin	9.0%	9.0%	7.6%	9.8%	10.6%	9.3%	7.6%	9.2%	7.6%
Income Before Tax (EBT)	-824.000M	441.000M	-1.832B	259.000M	308.000M	375.000M	156.000M	147.000M	49.000M
Interest Income	—	—	—	—	—	—	—	—	—
Interest Expense	465.000M	99.000M	98.000M	125.000M	143.000M	139.000M	148.000M	157.000M	173.000M
Other Income/Expense	-2.894B	-140.000M	-2.256B	-293.000M	-205.000M	-19.000M	-113.000M	-191.000M	-211.000M
Net Income	1.596B	405.000M	857.000M	151.000M	183.000M	216.000M	79.000M	85.000M	18.000M
Income Tax Expense	-2.751B	36.000M	-2.783B	-4.000M	0.00	2.000M	-3.000M	-1.000M	1.000M
Net Profit Margin	6.3%	6.3%	15.3%	2.7%	3.8%	5.1%	2.2%	2.3%	0.5%
EBITDA	-88.000M	609.000M	-1.665B	449.000M	519.000M	587.000M	378.000M	377.000M	298.000M
EBITDA Margin	9.5%	9.5%	-29.7%	8.0%	10.7%	13.9%	10.7%	10.3%	8.7%
Depreciation & Amortization	271.000M	69.000M	69.000M	65.000M	68.000M	73.000M	74.000M	73.000M	76.000M
EPS Basic	2.73	0.35	1.90	0.22	0.27	0.32	0.12	0.14	0.03
EPS Diluted	1.99	0.34	1.19	0.21	0.26	0.30	0.11	0.13	0.03
Shares Outstanding	713.745M	713.745M	708.745M	696.065M	677.070M	670.290M	650.820M	619.415M	594.650M
Diluted Shares Outstanding	740.425M	740.425M	1.128B	731.370M	716.150M	712.935M	699.295M	667.775M	642.325M

CVNA Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	20.322B	13.673B	10.771B	13.604B	12.814B	5.587B	3.940B	1.955B
Cost of Goods Sold	16.130B	10.962B	9.047B	12.603B	10.988B	4.865B	3.473B	1.781B
Gross Profit	4.192B	2.711B	1.724B	1.001B	1.826B	721.574M	466.749M	174.270M
Gross Profit Margin	20.6%	19.8%	16.0%	7.4%	14.3%	12.9%	11.8%	8.9%
Total Operating Expenses	2.311B	1.709B	1.804B	2.491B	1.930B	1.054B	747.052M	402.819M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	2.308B	1.709B	1.606B	2.491B	1.930B	1.126B	787.000M	421.840M
Operating Income (EBIT)	1.881B	1.002B	-80.000M	-1.490B	-104.000M	-332.396M	-280.303M	-228.549M
Operating Margin	9.3%	7.3%	-0.7%	-11.0%	-0.8%	-5.9%	-7.1%	-11.7%
Income Before Tax (EBT)	-890.000M	400.000M	175.000M	-2.893B	-286.000M	-462.477M	-364.639M	-254.745M
Interest Income	—	—	—	—	—	—	—	—
Interest Expense	505.000M	651.000M	632.000M	486.000M	176.000M	131.528M	80.606M	25.018M
Other Income/Expense	-2.771B	-602.000M	255.000M	-1.403B	-182.000M	-130.081M	-84.336M	-26.196M
Net Income	1.407B	210.000M	450.000M	-1.587B	-135.000M	-171.140M	-114.659M	-55.476M
Income Tax Expense	-2.785B	-4.000M	25.000M	1.000M	1.000M	-255K	0.00	0.00
Net Profit Margin	6.9%	1.5%	4.2%	-11.7%	-1.1%	-3.1%	-2.9%	-2.8%
EBITDA	-110.000M	1.356B	1.159B	-2.146B	-5.000M	-257.158M	-242.768M	-206.188M
EBITDA Margin	-0.5%	9.9%	10.8%	-15.8%	-0.0%	-4.6%	-6.2%	-10.5%
Depreciation & Amortization	275.000M	305.000M	352.000M	261.000M	105.000M	73.791M	41.265M	23.539M
EPS Basic	2.04	0.34	0.82	-3.15	-0.33	-0.53	-0.49	-0.41
EPS Diluted	1.69	0.32	0.15	-3.15	-0.33	-0.53	-0.49	-0.41
Shares Outstanding	688.170M	611.720M	546.615M	504.140M	414.025M	324.905M	234.235M	150.215M
Diluted Shares Outstanding	1.121B	661.030M	1.003B	504.140M	414.025M	324.905M	234.235M	150.215M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

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.

Tempe, AZ

23,100 employees

www.carvana.com

Consumer Cyclical / Auto - Dealerships

Sector: Consumer Cyclical
Industry: Auto - Dealerships
CEO: Ernest C. Garcia

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