Financials in USD. Standardized financial statements.
A compact view of how Carvana Co. turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $20.32B | $13.67B | $10.77B | $13.60B | $12.81B | $5.59B | $3.94B | $1.96B | $858.87M | $365.15M |
| Revenue Growth? | +48.6% | +26.9% | -20.8% | +6.2% | +129.4% | +41.8% | +101.5% | +127.7% | +135.2% | 0.0% |
| Cost of Revenue? | $16.13B | $10.96B | $9.05B | $12.60B | $10.99B | $4.86B | $3.47B | $1.78B | $802.35M | $350.61M |
| Gross Profit? | $4.19B | $2.71B | $1.72B | $1.00B | $1.83B | $721.57M | $466.75M | $174.27M | $56.52M | $14.54M |
| Gross Margin? | +20.6% | +19.8% | +16.0% | +7.4% | +14.3% | +12.9% | +11.8% | +8.9% | +6.6% | +4.0% |
| Operating Expenses? | $2.31B | $1.71B | $1.80B | $2.49B | $1.93B | $1.05B | $747.05M | $402.82M | $211.83M | $104.02M |
| Operating Income? | $1.88B | $1.00B | -$80.00M | -$1.49B | -$104.00M | -$332.40M | -$280.30M | -$228.55M | -$155.31M | -$89.48M |
| EBITDA? | -$110.00M | $1.36B | $1.16B | -$2.15B | -$5.00M | -$257.16M | -$242.77M | -$206.19M | -$145.09M | -$84.87M |
| Income Before Tax | -$890.00M | $400.00M | $175.00M | -$2.89B | -$286.00M | -$462.48M | -$364.64M | -$254.75M | -$164.32M | -$93.11M |
| Income Tax Expense | -$2.79B | -$4.00M | $25.00M | $1.00M | $1.00M | -$255,000 | $0 | $0 | $0 | $0 |
| Net Income? | $1.41B | $210.00M | $450.00M | -$1.59B | -$135.00M | -$171.14M | -$114.66M | -$55.48M | -$18.31M | -$10.15M |
| EPS? | $2.04 | $0.34 | $0.82 | $-3.15 | $-0.33 | $-0.53 | $-0.49 | $-0.41 | $-0.26 | $-0.14 |
| Diluted EPS? | $1.69 | $0.32 | $0.15 | $-3.15 | $-0.33 | $-0.53 | $-0.49 | $-0.41 | $-0.26 | $-0.14 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality