Tearsheet

Carvana (CVNA)

Market Price (9/14/2025): $360.3 | Market Cap: $48.8 Bil
Sector: Consumer Discretionary | Industry: Automotive Retail

Carvana (CVNA)

Market Price (9/14/2025): $360.3
Market Cap: $48.8 Bil
Sector: Consumer Discretionary
Industry: Automotive Retail

Investment Highlights

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 39%	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 31x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 68x, P/EPrice/Earnings or Price/(Net Income) is 87x
1			Stock price has recently run up significantly 12M Rtn12 month market price return is 155%
2			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4%

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 39%
1	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%
2	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 31x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 68x, P/EPrice/Earnings or Price/(Net Income) is 87x
3	Stock price has recently run up significantly 12M Rtn12 month market price return is 155%
4	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4%

Market Valuation

	9/14/25	2024	2023	2022	2021
Share Price CYE	$360.30	$203.36	$52.94	$4.74	$231.79
Market Cap CYE ($ Bil)	48.8	26.5	6.0	0.5	20.2
Total Debt ($ Bil)	6.1	6.0	6.7	8.8	5.8
Total Cash ($ Bil)	2.3	2.2	0.9	0.8	0.4
Enterprise Value ($ Bil)	52.6	32.5	12.7	9.3	26.0
Valuation Ratios
P/S TTM	3.0	1.8	0.5	0.0	1.5
P/EBIT TTM	31.0	23.7	7.2	-0.2	-174.5
P/E TTM	86.7	118.5	12.9	-0.3	-142.2
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9	0.8	1.3
P/EBIT TTM (Sector)	7.3	6.9	7.0	5.5	7.4
P/E TTM (Sector)	9.6	8.1	8.9	7.3	9.2

	9/14/25	2024	2023
Share Price CYE	$360.30	$203.36	$52.94
Market Cap CYE ($ Bil)	48.8	26.5	6.0
Total Debt ($ Bil)	6.1	6.0	6.7
Total Cash ($ Bil)	2.3	2.2	0.9
Enterprise Value ($ Bil)	52.6	32.5	12.7
Valuation Ratios
P/S TTM	3.0	1.8	0.5
P/EBIT TTM	31.0	23.7	7.2
P/E TTM	86.7	118.5	12.9
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9
P/EBIT TTM (Sector)	7.3	6.9	7.0
P/E TTM (Sector)	9.6	8.1	8.9

Stock Price
Market Cap

Stock Price Chart

Return (1Y):

Market Cap Chart

Business Description

Carvana Co., together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices. Carvana Co. Show more

Price Returns Compared

Expand for Detailed View

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
CVNA Return	160%	-3%	-98%	1017%	284%	78%	293%
Peers Return	31%	48%	-11%	29%	16%	14%	193%
S&P 500 Return	16%	27%	-19%	24%	23%	12%	104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: ORLY, AZO, KMX, LAD, AN. See CVNA Returns vs. Peers.
[3] 2025 data is for the year up to 9/12/2025 (YTD)

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Carvana Earnings Notes
2	Now Is Not The Time To Buy Carvana Stock	Buy or Fear
3	Carvana vs Eli Lilly: Which Is A Better Investment?	Counter-Intuitive Comparisons
4	How Does CVNA Stack Up Against Its Peers?	Peer Comparison
5	Better Bet Than CVNA Stock: Pay Less Than Carvana To Get More From MU, CDE
6	Why Carvana Stock Moved: CVNA Stock Has Gained 7532% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
7	CVNA Dip Buy Analysis
8	Carvana vs. General Motors: With Return Forecast Of 34%, General Motors Is A Better Bet	Peer Comparison
9	Carvana vs. Phillips 66: With Return Forecast Of 3.8%, Phillips 66 Is A Better Bet	Peer Comparison
10	Carvana vs. Occidental Petroleum: With Return Forecast Of 17%, Occidental Petroleum Is A Better Bet	Peer Comparison
11	ARTICLES
12	CVNA Shares Rally 11% In A Week, Now Is Not The Time To Buy The Stock		August 29th, 2025
13	CVNA vs the Competition: Which Stock Comes Out on Top?		August 1st, 2025

	Title
0	DASHBOARDS
1	CVNA Shares Rally 11% In A Week, Now Is Not The Time To Buy The Stock
2	CVNA vs the Competition: Which Stock Comes Out on Top?
3	ARTICLES
4	Carvana Earnings Notes
5	Now Is Not The Time To Buy Carvana Stock
6	Carvana vs Eli Lilly: Which Is A Better Investment?
7	How Does CVNA Stack Up Against Its Peers?
8	Better Bet Than CVNA Stock: Pay Less Than Carvana To Get More From MU, CDE
9	Why Carvana Stock Moved: CVNA Stock Has Gained 7532% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
10	CVNA Dip Buy Analysis
11	Carvana vs. General Motors: With Return Forecast Of 34%, General Motors Is A Better Bet
12	Carvana vs. Phillips 66: With Return Forecast Of 3.8%, Phillips 66 Is A Better Bet
13	Carvana vs. Occidental Petroleum: With Return Forecast Of 17%, Occidental Petroleum Is A Better Bet

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GCTK	GlucoTrack	117.5%	-97.6%
2	OPI	Office Properties Income Trust	78.6%	-42.6%
3	HCWB	HCW Biologics	68.4%	-68.7%
4	AGAE	Allied Gaming & Entertainment	62.4%	86.8%
5	ATCH	AtlasClear	53.4%	-95.9%
6	SONN	Sonnet BioTherapeutics	49.0%	304.1%
7	EVTV	Envirotech Vehicles	48.4%	-66.3%
8	ISPC	iSpecimen	47.7%	-26.6%
9	ENTO	Entero Therapeutics	37.0%	68.8%
10	IBEX	IBEX	36.5%	93.5%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	NXTT	Next Technology	-57.4%	-93.8%
2	VCIG	VCI Global	-42.8%	-98.7%
3	RENT	Rent the Runway	-36.4%	-40.9%
4	NUAI	New Era Energy & Digital	-30.5%
5	AEI	Alset	-29.6%	156.9%
6	NAKA	Kindly MD	-29.5%
7	XTIA	XTI Aerospace	-24.6%	-85.8%
8	FARM	Farmer Bros	-21.5%	1.7%
9	FEIM	Frequency Electronics	-21.0%	46.5%
10	MSS	Maison Solutions	-20.4%	-27.6%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	OCTO	Eightco	900.0%	562.1%
2	QMMM	QMMM	875.3%	5698.4%
3	WLDS	Wearable Devices	780.4%	8.0%
4	CWD	CaliberCos	268.8%	-45.1%
5	AIRE	ReAlpha Tech	257.5%	-49.8%
6	PTNM	Pitanium	154.0%
7	OPI	Office Properties Income Trust	144.0%	-42.6%
8	HYPD	Hyperion DeFi	144.0%
9	ISPC	iSpecimen	128.4%	-26.6%
10	EDHL	Everbright Digital	127.6%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	DGNX	Diginex	-85.6%
2	LGCL	Lucas GC	-69.1%	-76.6%
3	YYGH	YY	-68.7%	-76.6%
4	BINI	Bollinger Innovations	-61.6%	-100.0%
5	IPDN	Professional Diversity Network	-54.5%	-41.4%
6	INHD	Inno	-53.4%	-4.4%
7	CDT	CDT Equity	-49.2%	-99.4%
8	NFE	New Fortress Energy	-46.5%	-91.3%
9	TGHL	Growhub	-44.8%
10	SLXN	Silexion Therapeutics	-43.1%	-86.5%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	11249.2%	11249.2%
2	GIBO	GIBO	7400.0%
3	LNZA	LanzaTech Global	4710.5%	-85.8%
4	CHSN	Chanson International	3717.0%	-99.3%
5	QMMM	QMMM	2669.4%	5698.4%
6	VTAK	Catheter Precision	1332.7%	-71.4%
7	CURX	Curanex Pharmaceuticals	1309.0%	1309.0%
8	OCTO	Eightco	811.9%	562.1%
9	WLDS	Wearable Devices	708.6%	8.0%
10	PTNM	Pitanium	423.7%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	BINI	Bollinger Innovations	-93.4%	-100.0%
2	ETS	Elite Express	-92.8%	-92.8%
3	CJET	Chijet Motor	-92.7%	-94.6%
4	ELPW	Elong Power	-91.7%	-75.8%
5	STFS	Star Fashion Culture	-91.4%	-97.8%
6	JEM	707 Cayman	-90.4%	-98.0%
7	FLYE	Fly-E	-90.4%	-82.8%
8	NXTT	Next Technology	-89.3%	-93.8%
9	NUTR	NusaTrip	-87.2%	-87.2%
10	CUPR	Cuprina	-84.3%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GCTK	GlucoTrack	117.5%	-97.6%
2	OPI	Office Properties Income Trust	78.6%	-42.6%
3	HCWB	HCW Biologics	68.4%	-68.7%
4	AGAE	Allied Gaming & Entertainment	62.4%	86.8%
5	ATCH	AtlasClear	53.4%	-95.9%
6	SONN	Sonnet BioTherapeutics	49.0%	304.1%
7	EVTV	Envirotech Vehicles	48.4%	-66.3%
8	ISPC	iSpecimen	47.7%	-26.6%
9	ENTO	Entero Therapeutics	37.0%	68.8%
10	IBEX	IBEX	36.5%	93.5%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	NXTT	Next Technology	-57.4%	-93.8%
2	VCIG	VCI Global	-42.8%	-98.7%
3	RENT	Rent the Runway	-36.4%	-40.9%
4	NUAI	New Era Energy & Digital	-30.5%
5	AEI	Alset	-29.6%	156.9%
6	NAKA	Kindly MD	-29.5%
7	XTIA	XTI Aerospace	-24.6%	-85.8%
8	FARM	Farmer Bros	-21.5%	1.7%
9	FEIM	Frequency Electronics	-21.0%	46.5%
10	MSS	Maison Solutions	-20.4%	-27.6%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	OCTO	Eightco	900.0%	562.1%
2	QMMM	QMMM	875.3%	5698.4%
3	WLDS	Wearable Devices	780.4%	8.0%
4	CWD	CaliberCos	268.8%	-45.1%
5	AIRE	ReAlpha Tech	257.5%	-49.8%
6	PTNM	Pitanium	154.0%
7	OPI	Office Properties Income Trust	144.0%	-42.6%
8	HYPD	Hyperion DeFi	144.0%
9	ISPC	iSpecimen	128.4%	-26.6%
10	EDHL	Everbright Digital	127.6%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	DGNX	Diginex	-85.6%
2	LGCL	Lucas GC	-69.1%	-76.6%
3	YYGH	YY	-68.7%	-76.6%
4	BINI	Bollinger Innovations	-61.6%	-100.0%
5	IPDN	Professional Diversity Network	-54.5%	-41.4%
6	INHD	Inno	-53.4%	-4.4%
7	CDT	CDT Equity	-49.2%	-99.4%
8	NFE	New Fortress Energy	-46.5%	-91.3%
9	TGHL	Growhub	-44.8%
10	SLXN	Silexion Therapeutics	-43.1%	-86.5%

Peer Comparisons for Carvana

Financials

	CVNA	ORLY	AZO	KMX	LAD	AN	Median
Name	Carvana	O'Reilly.	AutoZone	CarMax	Lithia M.	AutoNati.
Mkt Price	360.30	107.11	4,322.34	59.76	334.43	221.98	278.21
Mkt Cap	48.8	91.5	72.4	9.1	8.8	8.4	28.9
Rev LTM	16,274	17,122	18,901	26,787	36,805	27,464	22,844
Op Inc LTM	1,502	3,291	3,711	-166	1,547	1,260	1,524
FCF LTM	615	1,772	2,002	541	114	-452	578
FCF 3Y Avg	253	2,133	2,093	246	-418	173	249
CFO LTM	724	2,908	3,235	1,042	455	-150	883
CFO 3Y Avg	382	3,117	3,113	712	-121	527	619

Growth & Margins

	CVNA	ORLY	AZO	KMX	LAD	AN	Median
Name	Carvana	O'Reilly.	AutoZone	CarMax	Lithia M.	AutoNati.
Rev Chg LTM	39.5%	5.1%	5.2%	3.2%	12.8%	3.1%	5.1%
Rev Chg 3Y Avg	6.4%	7.6%	6.1%	-6.9%	13.5%	1.1%	6.2%
Rev Chg Q	41.9%	5.9%	5.4%	6.1%	7.2%	7.6%	6.6%
QoQ Delta Rev Chg LTM	9.6%	1.5%	1.2%	1.6%	1.7%	1.8%	1.7%
Op Mgn LTM	9.2%	19.2%	19.6%	-0.6%	4.2%	4.6%	6.9%
Op Mgn 3Y Avg	1.9%	19.7%	20.0%	-1.0%	5.1%	5.5%	5.3%
QoQ Delta Op Mgn LTM	0.8%	0.0%	-0.4%	0.2%	0.1%	0.1%	0.1%
CFO/Rev LTM	4.4%	17.0%	17.1%	3.9%	1.2%	-0.5%	4.2%
CFO/Rev 3Y Avg	2.7%	19.3%	17.3%	2.6%	-0.5%	2.0%	2.7%
FCF/Rev LTM	3.8%	10.3%	10.6%	2.0%	0.3%	-1.6%	2.9%
FCF/Rev 3Y Avg	1.7%	13.3%	11.7%	0.9%	-1.4%	0.7%	1.3%

Valuation

	CVNA	ORLY	AZO	KMX	LAD	AN	Median
Name	Carvana	O'Reilly.	AutoZone	CarMax	Lithia M.	AutoNati.
Mkt Cap	48.8	91.5	72.4	9.1	8.8	8.4	28.9
P/S	3.0	5.3	3.8	0.3	0.2	0.3	1.7
P/EBIT	31.0	27.7	19.4	5.6	4.6	6.4	12.9
P/E	86.7	37.7	28.2	16.3	10.4	13.2	22.3
P/CFO	67.4	31.5	22.4	8.7	19.3	-55.8	20.9
Total Yield	1.1%	2.6%	3.5%	6.1%	10.3%	7.6%	4.8%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.6%	0.0%	0.0%
FCF Yield 3Y Avg	-5.1%	3.4%	4.0%	2.3%	-5.4%	2.4%	2.3%
D/E	0.1	0.1	0.2	2.1	1.6	1.1	0.6
Net D/E	0.1	0.1	0.2	2.1	1.5	1.1	0.6

Returns

	CVNA	ORLY	AZO	KMX	LAD	AN	Median
Name	Carvana	O'Reilly.	AutoZone	CarMax	Lithia M.	AutoNati.
1M Rtn	3.4%	5.9%	7.9%	3.5%	11.0%	7.7%	6.8%
3M Rtn	21.8%	19.6%	18.7%	-7.9%	3.3%	17.1%	17.9%
6M Rtn	99.7%	21.5%	21.6%	-14.5%	13.5%	38.6%	21.5%
12M Rtn	154.9%	43.3%	38.4%	-24.1%	20.3%	33.0%	35.7%
3Y Rtn	877.2%	134.1%	101.5%	-29.7%	41.6%	100.5%	101.0%
1M Excs Rtn	1.6%	2.9%	5.3%	0.1%	4.2%	3.2%	3.1%
3M Excs Rtn	4.5%	9.2%	8.4%	-18.5%	-7.2%	6.7%	5.6%
6M Excs Rtn	97.8%	5.8%	2.7%	-32.9%	-1.8%	22.4%	4.2%
12M Excs Rtn	156.9%	23.0%	18.2%	-42.9%	8.6%	19.8%	19.0%
3Y Excs Rtn	920.6%	57.2%	31.3%	-97.9%	-28.4%	20.4%	25.8%

Comparison Analyses

	Title
0	How Does CVNA Stack Up Against Its Peers?
1	Carvana vs. General Motors: With Return Forecast Of 34%, General Motors Is A Better Bet
2	Carvana vs. Phillips 66: With Return Forecast Of 3.8%, Phillips 66 Is A Better Bet
3	Carvana vs. Occidental Petroleum: With Return Forecast Of 17%, Occidental Petroleum Is A Better Bet
4	Carvana vs. AutoZone: With Return Forecast Of 7.7%, AutoZone Is A Better Bet
5	Carvana vs. CarMax: With Return Forecast Of 7.1%, CarMax Is A Better Bet
6	Carvana vs. AutoNation: With Return Forecast Of 2.2%, AutoNation Is A Better Bet
7	Carvana vs. O'Reilly Automotive: With Return Forecast Of 14%, O'Reilly Automotive Is A Better Bet
8	Carvana vs. Lithia Motors: With Return Forecast Of 35%, Lithia Motors Is A Better Bet
9	Carvana vs. Air Products & Chemicals: With Return Forecast Of 3.8%, Air Products & Chemicals Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End		12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date		2/19/2025	2/22/2024	2/23/2023	2/24/2022	2/25/2021	2/26/2020
Key Financials
Total Revenue	16,274	13,673	10,771	13,604	12,814	5,587	3,940
Ebitda	1,861	1,356	1,159	-2,146	-5	-257	-243
Operating Income	1,502	990	-80	-1,504	-104	-332	-280
Net Income	563	210	450	-1,587	-135	-171	-115
EPS	4.26	1.72	4.12	-15.74	-1.63	-2.63	-2.45
Growth Rates
Total Revenue Growth	39.5%	26.9%	-20.8%	6.2%	129.4%	41.8%	101.5%
EBITDA Growth	12.4%	17.0%	154.0%	-42820.0%	98.1%	-5.8%	-17.9%
Operating Income Growth	272.7%	1337.5%	94.7%	-1346.2%	68.7%	-18.6%	-22.5%
Net Income Growth	-21.1%	-53.3%	128.4%	-1075.6%	21.1%	-48.7%	-107.3%
Margins
EBITDA Margin	11.4%	9.9%	10.8%	-15.8%	-0.0%	-4.6%	-6.2%
Operating Income Margin	9.2%	7.2%	-0.7%	-11.1%	-0.8%	-5.9%	-7.1%
Net Income Margin	3.5%	1.5%	4.2%	-11.7%	-1.1%	-3.1%	-2.9%
Cash & Debt
Total Cash	2,323	2,180	896	755	403	301	76
Total Debt	6,109	6,046	6,706	8,816	5,774	1,870	1,617
Net Debt / (Cash)	3,786	3,866	5,810	8,061	5,371	1,569	1,541
Cash Flows
Net Cash from Operations	724	918	803	-1,324	-2,594	-608	-757
Free Cash from Operations	615	827	716	-1,836	-3,151	-968	-988
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Filing Date	7/30/2025	5/7/2025	2/19/2025	10/30/2024	7/31/2024	5/1/2024	2/22/2024	11/2/2023	7/19/2023	5/4/2023	2/23/2023	11/3/2022
Key Financials Quarterly
Total Revenue	4,840	4,232	3,547	3,655	3,410	3,061	2,424	2,773	2,968	2,606	2,837	3,386
Ebitda	519	587	378	377	298	303	45	1,010	140	-36	-1,206	-277
Operating Income	511	394	260	337	259	134	-38	48	42	-132	-453	-297
Net Income	183	216	79	85	18	28	-114	782	-58	-160	-806	-283
EPS	1.35	1.61	0.61	0.69	0.15	0.24	-1.12	7.05	-0.55	-1.51	-7.61	-2.67
Key Financials TTM
Total Revenue TTM	16,274	14,844	13,673	12,550	11,668	11,226	10,771	11,184	11,797	12,713	13,604	14,520
Ebitda TTM	1,861	1,640	1,356	1,023	1,656	1,498	1,159	-92	-1,379	-1,777	-2,146	-1,033
Operating Income TTM	1,502	1,250	990	692	403	186	-80	-495	-840	-1,207	-1,504	-1,155
Net Income TTM	563	398	210	17	714	638	450	-242	-1,307	-1,487	-1,587	-870
Growth Rates Quarterly
Total Revenue Growth	41.9%	38.3%	46.3%	31.8%	14.9%	17.5%	-14.6%	-18.1%	-23.6%	-25.5%	-24.4%	-2.7%
EBITDA Growth	74.2%	93.7%	740.0%	-62.7%	112.9%	941.7%	103.7%	464.6%	154.3%	91.1%	-1196.8%	-4716.7%
Operating Income Growth	97.3%	194.0%	784.2%	602.1%	516.7%	201.5%	91.6%	116.2%	112.9%	69.2%	-335.6%	-1191.3%
Net Income Growth	916.7%	671.4%	169.3%	-89.1%	131.0%	117.5%	85.9%	376.3%	75.6%	38.5%	-805.6%	-784.4%
Margins Quarterly
EBITDA Margin	10.7%	13.9%	10.7%	10.3%	8.7%	9.9%	1.9%	36.4%	4.7%	-1.4%	-42.5%	-8.2%
Operating Income Margin	10.6%	9.3%	7.3%	9.2%	7.6%	4.4%	-1.6%	1.7%	1.4%	-5.1%	-16.0%	-8.8%
Net Income Margin	3.8%	5.1%	2.2%	2.3%	0.5%	0.9%	-4.7%	28.2%	-2.0%	-6.1%	-28.4%	-8.4%
Cash & Debt
Total Cash	2,323	2,333	2,180	871	542	252	896	544	541	488	755	316
Total Debt	6,109	6,043	6,046	6,145	6,147	6,437	6,706	6,387	8,371	8,950	8,816	8,073
Net Debt / (Cash)	3,786	3,710	3,866	5,274	5,605	6,185	5,810	5,843	7,830	8,462	8,061	7,757
Cash Flows Quarterly
FCF from Operations	29	232	60	403	354	101	-239	599	509	-66	-739	-98
Cash Flows TTM
FCF from Operations TTM	724	1,049	918	619	815	970	803	303	-394	-797	-1,324	-1,757
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	31.3%	24.4%	15.9%	18.3%	13.2%	6.6%	-2.0%	2.4%	1.8%	-5.2%	-18.8%	-12.8%
Return on Invested Capital (ROIC) TTM
ROIC TTM	23.0%	19.5%	15.1%	9.4%	5.0%	2.2%	-0.9%	-6.4%	-8.9%	-12.0%	-15.6%	-12.4%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Single Segment	10,771	13,604
Other sales and revenues			1,043	401	252
Retail vehicle sales, net			9,851	4,741	3,421
Wholesale sales and revenues			1,920	445	268
Total	10,771	13,604	12,814	5,587	3,940

Price Behavior

Behavior Stats
Betas Matrix

Price Behavior

Market Price	$361.77
Market Cap ($ Bil)	49.0
First Trading Date	04/28/2017
Distance from 52W High	-7.3%
	50 Days	200 Days
DMA Price	$353.36	$274.07
DMA Trend	up	up
Distance from DMA	2.4%	32.0%
	3M	1YR
Volatility	51.7%	70.8%
Downside Capture	-149.41	131.45
Upside Capture	32.41	204.48
Correlation (SPY)	15.3%	57.8%

CVNA Betas & Captures as of 8/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.77	1.01	0.79	2.35	2.12	2.86
Up Beta	1.06	1.11	0.82	2.31	2.22	2.40
Down Beta	4.75	3.81	4.33	2.98	2.55	2.26
Up Capture	72%	56%	25%	346%	423%	209658%
Bmk +ve Days	10	22	35	71	142	415
Stock +ve Days	10	22	34	77	150	390
Down Capture	194%	-50%	-84%	145%	122%	109%
Bmk -ve Days	11	19	27	54	106	334
Stock -ve Days	11	19	28	48	98	358

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date	8292025
Short Interest: Shares Quantity	13,725,425
Short Interest: % Change Since 8152025	3.7%
Average Daily Volume	2,602,552
Days-to-Cover Short Interest	5.27
Basic Shares Quantity	135,414,000
Short % of Basic Shares	10.1%

Returns Analyses

	Title
0	Carvana Stock Return Comparison
1	[10/16/2021] Carvana (CVNA) Stock Price Forecast: AI Forecasts CVNA Stock Price To Be Around $310 In A Month (Up 8.1%)
2	Carvana (CVNA) Stock Return: AI Predicts CVNA Average and Excess Return After a Fall or Rise

Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
7/30/2025	17.0%	6.4%	13.1%
5/7/2025	10.2%	17.9%	31.8%
2/19/2025	-12.1%	-17.5%	-34.2%
10/30/2024	19.3%	15.3%	25.6%
7/31/2024	10.0%	-3.4%	12.6%
2/22/2024	32.1%	44.9%	64.0%
11/2/2023	7.9%	1.7%	33.9%
7/19/2023	40.2%	10.8%	-4.4%
...
SUMMARY STATS
# Positive	15	13	14
# Negative	8	10	9
Median Positive	19.3%	11.0%	26.4%
Median Negative	-9.8%	-5.5%	-12.5%
Max Positive	40.2%	66.1%	108.3%
Max Negative	-39.0%	-30.4%	-50.5%

	Forward Returns
7/30/2025	17.0%	6.4%	13.1%
5/7/2025	10.2%	17.9%	31.8%
2/19/2025	-12.1%	-17.5%	-34.2%
10/30/2024	19.3%	15.3%	25.6%
7/31/2024	10.0%	-3.4%	12.6%
2/22/2024	32.1%	44.9%	64.0%
11/2/2023	7.9%	1.7%	33.9%
7/19/2023	40.2%	10.8%	-4.4%
5/4/2023	24.4%	66.1%	108.3%
2/23/2023	-20.5%	-6.1%	-18.8%
11/3/2022	-39.0%	-30.4%	-50.5%
8/4/2022	40.1%	49.5%	-5.8%
2/24/2022	21.0%	-2.2%	2.0%
11/4/2021	-0.9%	-4.8%	-12.5%
8/5/2021	2.6%	6.3%	-2.5%
5/6/2021	-5.9%	-15.0%	6.2%
2/25/2021	7.5%	2.4%	-1.8%
10/29/2020	-3.1%	7.0%	30.9%
8/5/2020	28.1%	11.0%	14.0%
5/6/2020	7.2%	-1.4%	27.1%
2/26/2020	-12.6%	-18.8%	-44.3%
11/6/2019	-7.5%	-4.9%	9.3%
8/7/2019	25.1%	36.2%	44.4%
SUMMARY STATS
# Positive	15	13	14
# Negative	8	10	9
Median Positive	19.3%	11.0%	26.4%
Median Negative	-9.8%	-5.5%	-12.5%
Max Positive	40.2%	66.1%	108.3%
Max Negative	-39.0%	-30.4%	-50.5%

SEC Filings

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Report Date	Filing
6302025	10-Q 6/30/2025
3312025	10-Q 3/31/2025
12312024	10-K 12/31/2024
9302024	10-Q 9/30/2024
6302024	10-Q 6/30/2024
3312024	10-Q 3/31/2024
12312023	10-K 12/31/2023
9302023	10-Q 9/30/2023
6302023	10-Q 6/30/2023
3312023	10-Q 3/31/2023
12312022	10-K 12/31/2022
9302022	10-Q 9/30/2022
6302022	10-Q 6/30/2022
3312022	10-Q 3/31/2022
12312021	10-K 12/31/2021
9302021	10-Q 9/30/2021

Insider Activity

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	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	GARCIA ERNEST C. III	Chief Executive Officer	8282025	Sell	368.61	450	165,874	184,669,924	Form
1	GARCIA ERNEST C. III	Chief Executive Officer	8282025	Sell	358.95	467	167,630	181,619,008	Form
2	GARCIA ERNEST C. III	Chief Executive Officer	8262025	Sell	354.80	293	103,956	181,354,956	Form
3	GARCIA ERNEST C. III	Chief Executive Officer	8262025	Sell	361.49	100	36,149	184,880,446	Form
4	GARCIA ERNEST C. III	Chief Executive Officer	8262025	Sell	339.06	150	50,859	175,053,287	Form

Collapse to Preview

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	GARCIA ERNEST C. III	Chief Executive Officer	8282025	Sell	368.61	450	165,874	184,669,924	Form
1	GARCIA ERNEST C. III	Chief Executive Officer	8282025	Sell	358.95	467	167,630	181,619,008	Form
2	GARCIA ERNEST C. III	Chief Executive Officer	8262025	Sell	354.80	293	103,956	181,354,956	Form
3	GARCIA ERNEST C. III	Chief Executive Officer	8262025	Sell	361.49	100	36,149	184,880,446	Form
4	GARCIA ERNEST C. III	Chief Executive Officer	8262025	Sell	339.06	150	50,859	175,053,287	Form
5	GARCIA ERNEST C. III	Chief Executive Officer	8222025	Sell	333.24	150	49,986	173,714,680	Form
6	GARCIA ERNEST C. III	Chief Executive Officer	8222025	Sell	333.23	750	249,922	174,139,333	Form
7	GARCIA ERNEST C. III	Chief Executive Officer	8222025	Sell	319.23	55	17,558	168,037,884	Form
8	GARCIA ERNEST C. III	Chief Executive Officer	8202025	Sell	342.88	150	51,432	182,168,715	Form
9	GARCIA ERNEST C. III	Chief Executive Officer	8202025	Sell	352.69	100	35,269	189,161,755	Form
10	GARCIA ERNEST C. III	Chief Executive Officer	8182025	Sell	339.10	452	153,273	183,449,031	Form
11	GARCIA ERNEST C. III	Chief Executive Officer	8182025	Sell	341.47	179	61,123	186,531,744	Form
12	GARCIA ERNEST C. III	Chief Executive Officer	8132025	Sell	343.83	50	17,192	189,584,424	Form
13	GARCIA ERNEST C. III	Chief Executive Officer	8132025	Sell	336.71	276	92,932	187,265,980	Form
14	GARCIA ERNEST C. III	Chief Executive Officer	8132025	Sell	340.46	159	54,133	191,093,729	Form
15	GARCIA ERNEST C. III	Chief Executive Officer	8112025	Sell	342.28	385	131,778	193,749,305	Form
16	GARCIA ERNEST C. III	Chief Executive Officer	8112025	Sell	353.24	400	141,296	201,714,170	Form
17	BREAUX PAUL W.	See Remarks	8072025	Sell	361.91	13,964	5,053,711	36,128,751	Form
18	GARCIA ERNEST C. III	Chief Executive Officer	8072025	Sell	346.81	300	104,043	199,811,113	Form
19	GARCIA ERNEST C. III	Chief Executive Officer	8072025	Sell	362.14	12	4,346	209,276,360	Form
20	GARCIA ERNEST C. III	Chief Executive Officer	8072025	Sell	346.70	367	127,239	201,458,009	Form
21	GARCIA ERNEST C. III	Chief Executive Officer	8052025	Sell	366.45	141	51,669	213,520,154	Form
22	GARCIA ERNEST C. III	Chief Executive Officer	8052025	Sell	353.48	236	83,421	207,211,390	Form
23	GARCIA ERNEST C. III	Chief Executive Officer	8052025	Sell	365.28	406	148,304	215,892,900	Form
24	GARCIA ERNEST C. II		8042025	Sell	408.64	1,579	645,238	2,061,573	Form
25	BREAUX PAUL W.	See Remarks	8042025	Sell	375.04	18,000	6,750,720	48,592,433	Form
26	Taira Thomas	President, Special Projects	8042025	Sell	375.04	10,000	3,750,400	45,064,431	Form
27	GARCIA ERNEST C. III	Chief Executive Officer	7302025	Sell	332.26	630	209,324	200,583,036	Form
28	GARCIA ERNEST C. III	Chief Executive Officer	7302025	Sell	334.23	611	204,215	204,157,377	Form
29	GARCIA ERNEST C. III	Chief Executive Officer	7282025	Sell	329.66	989	326,034	202,889,577	Form
30	GARCIA ERNEST C. III	Chief Executive Officer	7282025	Sell	328.26	534	175,291	203,818,604	Form
31	GARCIA ERNEST C. III	Chief Executive Officer	7242025	Sell	332.65	150	49,898	208,335,368	Form
32	GARCIA ERNEST C. III	Chief Executive Officer	7242025	Sell	332.88	148	49,266	210,144,481	Form
33	GARCIA ERNEST C. III	Chief Executive Officer	7222025	Sell	339.62	43	14,604	216,133,149	Form
34	GARCIA ERNEST C. III	Chief Executive Officer	7222025	Sell	336.96	139	46,837	216,092,785	Form
35	GARCIA ERNEST C. III	Chief Executive Officer	7182025	Sell	345.20	600	207,120	222,943,968	Form
36	GARCIA ERNEST C. III	Chief Executive Officer	7182025	Sell	348.84	235	81,977	227,166,352	Form
37	GARCIA ERNEST C. III	Chief Executive Officer	7162025	Sell	338.32	251	84,918	222,001,862	Form
38	GARCIA ERNEST C. III	Chief Executive Officer	7162025	Sell	343.87	450	154,742	227,294,631	Form
39	GARCIA ERNEST C. III	Chief Executive Officer	7142025	Sell	342.78	571	195,727	228,246,576	Form
40	GARCIA ERNEST C. III	Chief Executive Officer	7142025	Sell	346.20	459	158,906	232,293,622	Form
41	GARCIA ERNEST C. III	Chief Executive Officer	7102025	Sell	360.42	48	17,300	243,802,505	Form
42	GARCIA ERNEST C. III	Chief Executive Officer	7102025	Sell	343.43	96	32,969	233,993,970	Form
43	GARCIA ERNEST C. III	Chief Executive Officer	7032025	Sell	342.41	807	276,325	237,410,658	Form
44	GARCIA ERNEST C. III	Chief Executive Officer	6272025	Sell	322.36	173	55,768	232,507,630	Form
45	GARCIA ERNEST C. III	Chief Executive Officer	6232025	Sell	300.23	3,182	955,332	221,647,199	Form
46	GARCIA ERNEST C. III	Chief Executive Officer	6172025	Sell	306.29	960	294,038	229,423,462	Form
47	GARCIA ERNEST C. III	Chief Executive Officer	6132025	Sell	320.77	275	88,212	242,093,138	Form
48	SULLIVAN GREGORY B		6132025	Sell	332.23	5,000	1,661,150	14,760,314	Form
49	GARCIA ERNEST C. III	Chief Executive Officer	6132025	Sell	333.54	34	11,340	253,479,060	Form
50	SULLIVAN GREGORY B		6112025	Sell	343.91	2,500	859,775	17,858,558	Form
51	GARCIA ERNEST C. III	Chief Executive Officer	6112025	Sell	335.58	231	77,519	255,877,401	Form
52	GARCIA ERNEST C. III	Chief Executive Officer	6112025	Sell	330.56	250	82,640	254,448,560	Form
53	KEETON RYAN S.	Chief Brand Officer	6112025	Sell	340.68	11,276	3,841,508	46,546,427	Form
54	PLATT IRA J.		6092025	Sell	344.00	5,674	1,951,856	8,980,120	Form
55	JENKINS MARK W.	Chief Financial Officer	6092025	Sell	350.00	20,000	7,000,000	67,283,650	Form
56	GARCIA ERNEST C. III	Chief Executive Officer	6092025	Sell	339.18	109	36,971	264,523,429	Form
57	GARCIA ERNEST C. III	Chief Executive Officer	6092025	Sell	346.38	481	166,609	266,868,471	Form
58	Taira Thomas	President, Special Projects	6092025	Sell	350.29	10,000	3,502,900	45,829,842	Form
59	GARCIA ERNEST C. III	Chief Executive Officer	6052025	Sell	333.26	250	83,315	263,192,085	Form
60	GARCIA ERNEST C. III	Chief Executive Officer	6052025	Sell	343.07	392	134,483	268,008,342	Form
61	Taira Thomas	President, Special Projects	6032025	Sell	325.18	10,000	3,251,800	46,015,897	Form
62	JENKINS MARK W.	Chief Financial Officer	6032025	Sell	325.13	20,000	6,502,600	62,899,325	Form
63	GARCIA ERNEST C. III	Chief Executive Officer	5302025	Sell	324.00	1,014	328,536	290,315,664	Form
64	GARCIA ERNEST C. III	Chief Executive Officer	5302025	Sell	316.74	250	79,185	254,896,515	Form
65	GARCIA ERNEST C. III	Chief Executive Officer	5282025	Sell	300.48	2,224	668,268	245,725,332	Form
66	GARCIA ERNEST C. III	Chief Executive Officer	5232025	Sell	300.05	5,000	1,500,250	246,041,000	Form
67	GARCIA ERNEST C. III	Chief Executive Officer	5202025	Sell	300.10	5,000	1,500,500	250,583,500	Form
68	JENKINS MARK W.	Chief Financial Officer	5162025	Sell	300.00	20,000	6,000,000	58,037,700	Form
69	KEETON RYAN S.	Chief Brand Officer	5162025	Sell	300.00	13,137	3,941,100	44,520,600	Form
70	GARCIA ERNEST C. III	Chief Executive Officer	5162025	Sell	302.77	2,282	690,921	256,663,579	Form
71	MAROONE MICHAEL E		5122025	Sell	276.89	2,021	559,595	41,667,238	Form
72	HUSTON BENJAMIN E.	Chief Operating Officer	4092025	Sell	150.41	32,494	4,887,423	21,254,287	Form
73	HUSTON BENJAMIN E.	Chief Operating Officer	4022025	Sell	194.19	700	135,933	34,452,413	Form
74	HUSTON BENJAMIN E.	Chief Operating Officer	3262025	Sell	200.69	400	80,276	39,310,756	Form
75	HUSTON BENJAMIN E.	Chief Operating Officer	3172025	Sell	172.45	200	34,490	42,436,151	Form
76	JENKINS MARK W.	Chief Financial Officer	2182025	Sell	275.55	16,400	4,519,020	56,091,509	Form
77	KEETON RYAN S.	Chief Brand Officer	12132024	Sell	247.58	13,600	3,367,088	40,175,797	Form
78	PLATT IRA J.		12122024	Sell	240.06	750	180,045	7,076,249	Form
79	JENKINS MARK W.	Chief Financial Officer	11122024	Sell	245.26	20,000	4,905,200	41,873,730	Form
80	GILL DANIEL J.	Chief Product Officer	11122024	Sell	250.16	11,000	2,751,760	59,104,553	Form
81	SULLIVAN GREGORY B		11062024	Sell	235.00	5,000	1,175,000	12,550,645	Form
82	GILL DANIEL J.	Chief Product Officer	10242024	Sell	200.18	2,837	567,911	64,948,401	Form
83	GILL DANIEL J.	Chief Product Officer	9232024	Sell	175.00	30,000	5,250,000	57,457,575	Form
84	BREAUX PAUL W.	See Remarks	9232024	Sell	173.00	15,000	2,595,000	19,529,970	Form

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Carvana (CVNA)

Market Price (9/14/2025): $360.3 | Market Cap: $48.8 BilSector: Consumer Discretionary | Industry: Automotive Retail

Carvana (CVNA)

Market Price (9/14/2025): $360.3Market Cap: $48.8 BilSector: Consumer DiscretionaryIndustry: Automotive Retail

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Market Price (9/14/2025): $360.3 | Market Cap: $48.8 Bil
Sector: Consumer Discretionary | Industry: Automotive Retail

Market Price (9/14/2025): $360.3
Market Cap: $48.8 Bil
Sector: Consumer Discretionary
Industry: Automotive Retail