Carvana revenue and financials
$63.88Change from previous close: +0.25%Absolute change: +$0.16
In the fiscal year ended December 2025, Carvana reported revenue of $20.32B (+48.63% year over year). Net income was $1.41B, a net margin of 6.9%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +48.63%
- 2025 vs 2024
- Net income growth
- +570.00%
- 2025 vs 2024
- Net margin
- 6.9%
- 2024: 1.5%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 238 | 107 | 430 | 345 | 29.0 | 232 | 60.0 | 403 | 354 | 101 | -239 | 599 |
| Depreciation and amortization | 69.0 | 69.0 | 69.0 | 65.0 | 68.0 | 73.0 | 74.0 | 73.0 | 76.0 | 82.0 | 82.0 | 87.0 |
| Capital expenditure | -51.0 | -51.0 | -51.0 | -38.0 | -31.0 | -27.0 | -24.0 | -27.0 | -22.0 | -18.0 | -18.0 | -19.0 |
| Investing cash flow | -52.0 | -31.0 | -130 | -46.0 | -19.0 | -35.0 | -7.0 | -15.0 | 2.0 | 7.0 | 9.0 | 16.0 |
| Financing cash flow | 45.0 | 7.0 | -92.0 | -8.0 | 16.0 | -53.0 | 775 | -63.0 | -76.0 | -375 | 208 | -676 |
| Share repurchases | -36.0 | -8.0 | -9.0 | -8.0 | -9.0 | -4.0 | -17.0 | -2.0 | — | — | -3.0 | -10.0 |
| Debt issued | 1,338 | 1,178 | 1,001 | 977 | 1,602 | 613 | 526 | 914 | 966 | 881 | 975 | 1,268 |
| Debt repaid | -1,257 | -1,124 | -1,092 | -1,525 | -1,582 | -647 | -654 | -975 | -1,390 | -1,255 | -747 | -2,337 |
| Net change in cash | 231 | 83.0 | 208 | 291 | 26.0 | 144 | 828 | 325 | 280 | -267 | -22.0 | -61.0 |
| Free cash flow | 187 | 56.0 | 379 | 307 | -2.0 | 205 | 36.0 | 376 | 332 | 83.0 | -257 | 580 |
| Levered free cash flow | 33.9 | 8.3 | 228 | 155 | -194 | 61.4 | 42.6 | 303 | 250 | -29.8 | -236 | 744 |