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Carvana Co., together with its subsidiaries, operates an e-commerce platform for buying and selling used cars. It provides vehicle acquisition, inspection and reconditioning, online search and shopping experience, financing, complementary products, logistics network and distinctive fulfillment experience, and post-sale customer support services. The company also operates auction sites. Carvana Co. was founded in 2012 and is based in Tempe, Arizona.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $20.3B | $-110M | $1.4B | $889M | 40.9% | 48.6% | 570.0% |
| 2024 | $13.7B | $1.4B | $210M | $827M | 16.7% | 26.9% | -53.3% |
| 2023 | $10.8B | $1.2B | $450M | $716M | 185.2% | -20.8% | -128.4% |
| 2022 | $13.6B | $-2.1B | $-1.6B | $-1.8B | 306.4% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 13,604 | 10,771 | 13,673 | 20,322 |
| Cost Of Revenue | - | 12,358 | 9,047 | 10,797 | 16,130 |
| Gross Profit | - | 1,246 | 1,724 | 2,876 | 4,192 |
| Operating Expense | - | 2,750 | 1,804 | 1,886 | 2,311 |
| Operating Income | - | -1,504 | -80 | 990 | 1,881 |
| EBITDA | - | -2,146 | 1,159 | 1,356 | -110 |
| EBIT | - | -2,407 | 807 | 1,051 | -385 |
| Pretax Income | - | -2,893 | 175 | 400 | -890 |
| Tax Provision | - | 1 | 25 | -4 | -2,785 |
| Net Income | - | -1,587 | 450 | 210 | 1,407 |
| Net Income Common Stockholders | - | -1,587 | 450 | 210 | 1,407 |
| Total Expenses | - | 15,108 | 10,851 | 12,683 | 18,441 |
| Interest Expense | - | 486 | 632 | 651 | 505 |
| Selling General And Administration | - | 2,736 | 1,796 | 1,874 | 2,308 |
| Normalized EBITDA | - | -1,299 | 281 | 1,368 | -94 |
| Normalized Income | - | -917.87 | -302.57 | 219.48 | 1,419.64 |
| Market Cap | 58,495.89 | 58,495.89 | 58,495.89 | 58,495.89 | 58,495.89 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Carvana Co.this co. | CVNA | $56.3B | 41.57↑ premium | 17.00 | 40.9% | -560.82 |
| Royal Caribbean Cruises Ltd. | RCL | $72.1B | 16.85 | 7.17 | 42.5% | 13.15 |
| NIKE, Inc. | NKE | $66.3B | 20.56 | 5.01 | 24.4% | 15.46 |
| General Motors Company | GM | $63.2B | 26.09 | 1.15 | 4.4% | 9.81 |
| AutoZone, Inc. | AZO | $60.1B | 23.73 |
| - |
| - |
| - |
| - |
| -17.36 |
| -73.2% |
| 16.84 |
| D.R. Horton, Inc. | DHI | $49.3B | 12.65 | 1.87 | 14.8% | 10.69 |
| Chipotle Mexican Grill, Inc. | CMG | $45.7B | 29.01 | 15.74 | 54.3% | 20.76 |
| eBay Inc. | EBAY | $44.9B | 21.60 | 9.51 | 44.0% | 16.62 |
| Yum! Brands, Inc. | YUM | $44.7B | 28.42 | -6.05 | -21.3% | 20.40 |
| Peer Median | - | 22.67 | 3.44 | 19.6% | 16.04 | |