CarvanaCVNARevenue: is the business selling more than it used to?
$20.3B+49% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $20.3B in 2025, compounding +14% a year since 2022 though the pace has cooled. The trailing twelve months are already running at $25.1B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNANet income: how much of that revenue becomes profit?
$1.4B+570% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $1.4B in 2025, against $210M the year before. Earnings per share moved +179% over the last twelve months. Trailing twelve-month profit stands at $1.6B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNAHow fast is it growing, year by year?
+48.6%revenue growth, FY 2025
Off the axis: 2025 earnings +570.0% - rebounds off a collapsed prior year.
→Revenue grew +49% in 2025 against a five-year average of +38%. 2025's +570% earnings rebound off a collapsed base sits off the axis.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNARevenue per share: is your slice growing as fast as the company?
$90.61revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $90.61 in 2025, compounding -12% a year against +14% for CVNA as a whole. Dilution absorbed about 26.7 points of that growth. Free cash flow per share stands at $3.96.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNAFree cash flow: what is left in real cash after everything?
$889M+7% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Free cash flow was $889M in 2025. That is the most cash the business has ever thrown off in a year. The trailing twelve months stand at $929M.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNAWhere does each dollar of revenue actually go?
→Of $20.3B in 2025 sales, $1.4B reaches net profit - 7 cents on the dollar. The largest single deduction is producing the product ($16.1B).
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNAHow much of every sales dollar ends up as free cash?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→4 cents of every sales dollar became free cash in 2025, up 18 points since 2022.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNAWhat does staying competitive cost, per dollar of sales?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The biggest claim on each sales dollar is capital spending, at 1% of revenue (stock compensation 0%). That share has fallen since 2022, so the cost of competing is easing.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNAMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Operating margin widened 27 points to 9% since 2022. After everything, 7 cents of each sales dollar reaches net profit.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNAWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→ROE of 39% sits well above ROCE of 16%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNAWhat has the market paid for CVNA over time?
10.7xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 10.7x earnings, the market is paying about what it has typically paid CVNA's own 3-year median of 9.8x. Neither a bargain nor a stretch by its own standard.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNAWhat cash return does the business throw off per dollar of market value?
1.7%FCF yield today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→Every dollar of market value currently buys 1.7% of annual free cash flow, less than its 7-year median of -51.4% - you are paying up for the same cash.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNACould it handle its debt if things went wrong?
→Debt of $5.2B sits against $2.6B of cash, or 1.3x shareholders' equity. Earnings cover interest 5.3 times - adequate, with less room than it looks in a downturn.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNAIs the company's own capital growing?
→The company's own capital grew from $243M in 2023 to $4.0B (+1558%). The business is building book value rather than consuming it.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNAHow fast is your ownership being diluted - or concentrated?
→The share count grew 69.6% in 2025, averaging 44.8% a year over three years. Your slice of the company shrinks by that much each year unless earnings grow faster.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNADoes CVNA earn more on its capital than that capital costs?
→CVNA earns 16.1% on the capital it employs, comfortably above the 10% most investors treat as the cost of capital. That is the highest in CVNA's filed history.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNACVNA has issued or retired shares - did shareholders end up better off?
→CVNA's share count rose +379% from 2019 to 2025 while revenue per share grew +8%. Holders are further ahead than before, though the gain per share is smaller than the growth in the business.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
CarvanaCVNAAre the people running it buying or selling?
→Insiders bought $2M and sold $39M on the open market, a net sale of $37M. A further 37 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30