Carvana CVNA
$76.26 +$2.69 (+3.66%)
Market closed · Nov 10, 1:40 am ET · Last extended-hours $76.18 -0.10%
Open$74.99
Prev close$73.57
Day range$74.51 – $76.54
Volume7.90M
Market cap$55.11B
P/E (TTM)36.7
Dividend yield–
Fundamentals
Latest reported quarter: Q3, ended Sep 2026
Revenue$8.04B+42.4% YoY
Operating profit$714.00M+29.3% YoY
Net profit$483.00M+83.7% YoY
Diluted EPS$0.39+85.7% YoY
Free cash flow$491.00M+59.9% YoY
Operating cash flow$555.00M
Revenue, last 8 quarters
Net profit, last 8 quarters
Diluted EPS by quarter
Free cash flow by quarter
Annual revenue
Profitability & balance sheet
Gross margin19.0%
Operating margin8.7%
Net margin6.2%
Return on equity51.5%
Return on assets13.6%
Return on invested capital21.8%
Current ratio4.05
Liabilities / assets62.8%
Cash & investments$3.61B
Total debt$5.62B
Net cash (debt)-$2.01B
Free cash flow / sales4.1%
Income statement
| Line item | 2026 Q3 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 |
|---|---|---|---|---|---|
| Total Revenue as Reported | $8.04B | $7.38B | $6.43B | $20.32B | $5.60B |
| Total Operating Revenue | $8.04B | $7.38B | $6.43B | $20.32B | $5.60B |
| Cost of Revenue | $6.52B | $5.99B | $5.16B | $16.13B | $4.55B |
| Gross Profit | $1.52B | $1.38B | $1.27B | $4.19B | $1.05B |
| Operating Expense | $807.00M | $704.00M | $690.00M | $2.31B | $627.00M |
| Selling and Admin Expenses | $805.00M | $704.00M | $690.00M | $2.31B | $627.00M |
| -Selling & Marketing Expense | $152.00M | $121.00M | $118.00M | $363.00M | $105.00M |
| -General & Admin Expense | $653.00M | $583.00M | $572.00M | $1.95B | $522.00M |
| Other Operating Expenses | $2.00M | – | – | $3.00M | $0.00 |
| Operating Profit | $714.00M | $680.00M | $581.00M | $1.88B | $424.00M |
| Net Non-Operating Interest Income (Expense) | -$98.00M | -$101.00M | -$99.00M | -$505.00M | -$98.00M |
| Non-Operating Interest Expense | $98.00M | $101.00M | $99.00M | $505.00M | $98.00M |
| Other Income (Expense) | -$64.00M | – | -$41.00M | -$2.27B | -$2.16B |
| Special Income (Charges) | -$53.00M | $0.00 | $0.00 | -$16.00M | $0.00 |
| -Less:Other Special Charges | $53.00M | – | – | $16.00M | $0.00 |
| Other Non-Operating Income (Expenses) | -$11.00M | – | -$41.00M | -$2.25B | -$2.16B |
| Pretax Profit | $552.00M | $579.00M | $441.00M | -$890.00M | -$1.83B |
| Tax | $69.00M | $66.00M | $36.00M | -$2.79B | -$2.78B |
| Net Profit | $483.00M | $513.00M | $405.00M | $1.90B | $951.00M |
| Profit from Continuing Operations | $483.00M | $513.00M | $405.00M | $1.90B | $951.00M |
| Minority Interests | $194.00M | $203.00M | $155.00M | $488.00M | $94.00M |
| Net Income to Parent Company | $289.00M | $310.00M | $250.00M | $1.41B | $857.00M |
| Net Income to Common Stockholders | $289.00M | $310.00M | $250.00M | $1.41B | $857.00M |
| Basic EPS | $0.40 | $0.43 | $0.35 | $2.04 | $1.21 |
| Diluted EPS | $0.39 | $0.42 | $0.34 | $1.69 | $0.84 |
Balance sheet
| Line item | 2026 Q3 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 |
|---|---|---|---|---|---|
| Total Assets | $15.20B | $14.55B | $13.77B | $13.20B | $13.20B |
| Total Current Assets | $8.63B | $8.01B | $7.20B | $6.55B | $6.55B |
| Cash and Cash Equivalents & Short-Term Investments | $3.61B | $3.13B | $2.90B | $2.81B | $2.81B |
| -Cash and Cash Equivalents | $3.05B | $2.63B | $2.41B | $2.33B | $2.33B |
| -Short Term Investments | $557.00M | $502.00M | $492.00M | $486.00M | $486.00M |
| Receivables | $332.00M | $384.00M | $346.00M | $250.00M | $250.00M |
| -Accounts Receivable | $320.00M | $377.00M | $339.00M | $245.00M | $245.00M |
| -Due from Related Parties Current | $12.00M | $7.00M | $7.00M | $5.00M | $5.00M |
| Inventory | $3.46B | $3.26B | $2.66B | $2.41B | $2.41B |
| Restricted Cash | $123.00M | $113.00M | $102.00M | $102.00M | $102.00M |
| Other Current Assets | $215.00M | $193.00M | $201.00M | $163.00M | $163.00M |
| Total Non-Current Assets | $6.57B | $6.55B | $6.57B | $6.65B | $6.65B |
| Net PPE | $3.35B | $3.28B | $3.25B | $3.26B | $3.26B |
| -Gross PPE | $4.78B | $4.66B | $4.57B | $4.51B | $4.51B |
| -Accumulated Depreciation | -$1.43B | -$1.38B | -$1.32B | -$1.25B | -$1.25B |
| Goodwill and Other Intangible Assets | $63.00M | $65.00M | $59.00M | $57.00M | $57.00M |
| -Goodwill | $12.00M | $12.00M | $10.00M | $10.00M | $10.00M |
| -Other Intangible Assets | $51.00M | $53.00M | $49.00M | $47.00M | $47.00M |
| Non-Current Deferred Assets | $2.91B | $2.97B | $3.03B | $3.06B | $3.06B |
| Other Non-Current Assets | $251.00M | $229.00M | $232.00M | $274.00M | $274.00M |
| Total Liabilities | $9.54B | $9.41B | $9.14B | $9.00B | $9.00B |
| Total Current Liabilities | $2.13B | $2.04B | $1.76B | $1.52B | $1.52B |
| Payables | $885.00M | $793.00M | $661.00M | $433.00M | $433.00M |
| -Accounts Payable | $382.00M | $391.00M | $320.00M | $236.00M | $236.00M |
| -Total Tax Payable | $124.00M | $104.00M | $123.00M | $102.00M | $102.00M |
| -Due to Related Parties Current | $79.00M | $78.00M | $77.00M | $31.00M | $31.00M |
| -Other Payable | $300.00M | $220.00M | $141.00M | $64.00M | $64.00M |
| Current Accrued Expenses | $416.00M | $460.00M | $352.00M | $423.00M | $423.00M |
| Short-Term Debt and Capital Lease Obligation | $354.00M | $382.00M | $308.00M | $285.00M | $285.00M |
| -Current Debt | $354.00M | $382.00M | $308.00M | $285.00M | $285.00M |
| Current Provisions | $177.00M | $156.00M | $144.00M | $121.00M | $121.00M |
| Current Deferred Liabilities | $68.00M | $59.00M | $47.00M | $51.00M | $51.00M |
| Other Current Liabilities | $123.00M | $118.00M | $117.00M | $103.00M | $103.00M |
| Total Non-Current Liabilities | $7.41B | $7.38B | $7.38B | $7.48B | $7.48B |
| Long Term Debt and Capital Lease Obligation | $5.26B | $5.24B | $5.24B | $5.24B | $5.24B |
| -Long Term Debt | $4.87B | $4.85B | $4.85B | $4.83B | $4.83B |
| -Long Term Capital Lease Obligation | $388.00M | $385.00M | $392.00M | $406.00M | $406.00M |
| Other Non-Current Liabilities | $2.15B | $2.14B | $2.14B | $2.24B | $2.24B |
| Total Equity | $5.65B | $5.14B | $4.63B | $4.20B | $4.20B |
| Stockholders' Equity | $4.35B | $4.03B | $3.72B | $3.44B | $3.44B |
| Capital Stock | $1.00M | $1.00M | $0.00 | $0.00 | $0.00 |
| -Common Stock | $1.00M | $1.00M | $0.00 | $0.00 | $0.00 |
| -Preferred Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Additional Paid-In Capital | $3.50B | $3.48B | $3.48B | $3.45B | $3.45B |
| Retained Earnings | $840.00M | $551.00M | $241.00M | -$9.00M | -$9.00M |
| Gains/Losses Not Affecting Retained Earnings | $13.00M | – | – | – | – |
| Minority Interests | $1.30B | $1.11B | $912.00M | $762.00M | $762.00M |
Cash flow
| Line item | 2026 Q3 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 |
|---|---|---|---|---|---|
| Operating Cash Flow | $555.00M | $238.00M | $107.00M | $1.04B | $430.00M |
| Net cash flow from continuing operations | $555.00M | $238.00M | $107.00M | $1.04B | $430.00M |
| Net Income from Continuing Operations | $483.00M | $513.00M | $405.00M | $1.90B | $951.00M |
| Gain/Loss from Continuing Operations | $71.00M | $3.00M | $42.00M | $83.00M | $67.00M |
| Depreciation & Depletion & Amortization | $64.00M | $69.00M | $69.00M | $275.00M | $69.00M |
| Deferred Tax | $59.00M | $63.00M | $35.00M | -$2.78B | -$2.78B |
| Other Non-Cash Items | -$93.00M | -$9.00M | -$243.00M | $1.94B | $1.94B |
| Change in Working Capital | -$62.00M | -$425.00M | -$230.00M | -$480.00M | $163.00M |
| -Change in Receivables | $55.00M | -$41.00M | -$96.00M | $49.00M | $105.00M |
| -Change in Inventory | -$192.00M | -$586.00M | -$247.00M | -$734.00M | -$58.00M |
| -Change in Payables and Accrued Expense | $113.00M | $199.00M | $163.00M | $235.00M | $82.00M |
| -Change in Other Current Assets | $26.00M | $13.00M | -$30.00M | -$7.00M | -$9.00M |
| -Change in Other Current Liabilities | $3.00M | -$10.00M | -$20.00M | -$23.00M | -$1.00M |
| Net cash flow from investing | -$46.00M | -$52.00M | -$31.00M | -$230.00M | -$130.00M |
| Net Cash Flow from Continuing Investing Activities | -$46.00M | -$52.00M | -$31.00M | -$230.00M | -$130.00M |
| Net PPE Purchase and Sale | -$64.00M | -$49.00M | -$51.00M | -$145.00M | -$51.00M |
| Net Business Purchase and Sale | $0.00 | -$29.00M | -$11.00M | -$160.00M | -$109.00M |
| Net Other Investing Changes | $18.00M | $26.00M | $31.00M | $75.00M | $30.00M |
| Financing Cash Flow | -$80.00M | $45.00M | $7.00M | -$137.00M | -$92.00M |
| Net Cash Flow from Continuing Financing Activities | -$80.00M | $45.00M | $7.00M | -$137.00M | -$92.00M |
| Net Issuance Payments Of Debt | -$55.00M | $81.00M | $54.00M | -$653.00M | -$91.00M |
| Proceeds from Stock Option Exercised | $1.00M | $3.00M | $1.00M | $48.00M | $10.00M |
| Net Other Financing Charges | -$26.00M | -$39.00M | -$48.00M | -$68.00M | -$11.00M |
| Ending Cash Balance | $3.17B | $2.74B | $2.51B | $2.43B | $2.43B |
| Net Change in Cash | $429.00M | $231.00M | $83.00M | $669.00M | $208.00M |
| Beginning Cash Balance | $2.74B | $2.51B | $2.43B | $1.76B | $2.22B |
| Free Cash Flow | $491.00M | $187.00M | $56.00M | $889.00M | $379.00M |
| Net Common Stock Issuance | – | – | – | $536.00M | $0.00 |
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