Carvana runs an online platform for used cars in the US. Customers purchase, finance and sell cars entirely online; the vehicles are delivered or picked up at the distinctive car vending machines. Through the acquisition of the auction company ADESA, Carvana has its own reconditioning centers. As of Oct 11, 2026
Carvana runs an online platform through which customers can purchase used cars and sell their own cars. The company sources vehicles mainly directly from customers, through auctions, including on its own digital platform, and from wholesalers. Its own centers inspect and recondition the cars, and vehicles below its standards go to wholesale. Delivery is generally handled by its own staff with car haulers to the customer’s door; in some markets customers also pick up cars at vehicle vending machines, and there is also a limited-time return option. Besides vehicle sales, the company earns revenue from financing, add-on products and cars taken in trade; it passes loans on through securitizations or to partners.
Automatically summarized from SEC annual report (10-K, filed Feb 18, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026
Our own calculation from the exchange’s daily candles, as of Oct 26, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Growth, margin and debt compared with the sector – in detail in the fundamental analysis further down. The chart shows the candles without a buy zone.
Growth: greenMargin: yellowDebt: yellow
Carvana · Sector Consumer Discretionary · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 18, 2026.
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
20.6% Fiscal year 2025
Rank 12 of 100: higher than 12% of 153 peers (All). weak.
Rank 22 of 100: higher than 22% of 16 peers (Sector). weak.
Median Consumer Discretionary: 33.4%
Share of revenue left after the direct cost of the products sold.
9.3% Fiscal year 2025
Rank 37 of 100: higher than 37% of 192 peers (All). medium.
Rank 38 of 100: higher than 38% of 20 peers (Sector). medium.
Median Consumer Discretionary: 11.5%
Operating income divided by revenue: what the core business earns before interest and taxes.
6.9% Fiscal year 2025
Rank 31 of 100: higher than 31% of 237 peers (All). weak.
Rank 36 of 100: higher than 36% of 21 peers (Sector). medium.
Median Consumer Discretionary: 8.6%
Profit after all costs, interest and taxes divided by revenue.
40.9% Fiscal year 2025
Rank 84 of 100: higher than 84% of 218 peers (All). strong.
Rank 72 of 100: higher than 72% of 16 peers (Sector). strong.
Median Consumer Discretionary: 19.9%
Net income divided by equity at fiscal year end.
10.7% Fiscal year 2025 (total assets at year end)
Rank 72 of 100: higher than 72% of 238 peers (All). strong.
Rank 64 of 100: higher than 64% of 21 peers (Sector). medium.
Median Consumer Discretionary: 9.4%
Net income divided by total assets at fiscal year end.
26.1% Fiscal year 2025
Rank 36 of 100: higher than 36% of 239 peers (All). medium.
Rank 48 of 100: higher than 48% of 22 peers (Sector). medium.
Median Consumer Discretionary: 26.1%
Equity as a share of total assets. Usually low for banks.
4.4% Fiscal year 2025
Rank 27 of 100: higher than 27% of 213 peers (All). weak.
Rank 12 of 100: higher than 12% of 21 peers (Sector). weak.
Median Consumer Discretionary: 8.9%
Free cash flow divided by revenue.
889.0M USD Fiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
+14.3% per year
Rank 69 of 100: higher than 69% of 230 peers (All). strong.
Rank 80 of 100: higher than 80% of 22 peers (Sector). strong.
Median Consumer Discretionary: +6.2%
Average growth per year over 3 fiscal years.
+29.5% per year
Rank 83 of 100: higher than 83% of 217 peers (All). strong.
Rank 83 of 100: higher than 83% of 21 peers (Sector). strong.
Median Consumer Discretionary: +12.7%
Average growth per year over 5 fiscal years.
+65.7% per year
Rank 99 of 100: higher than 99% of 157 peers (All). strong.
Rank 97 of 100: higher than 97% of 18 peers (Sector). strong.
Median Consumer Discretionary: +6.3%
Average growth per year over 10 fiscal years.
6 of 9 Fiscal year 2025
Rank 45 of 100: higher than 45% of 134 peers (All). medium.
Rank 57 of 100: higher than 57% of 15 peers (Sector). medium.
Median Consumer Discretionary: 6.0 of 9
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
1.40 at fiscal year end
Rank 23 of 100: lower than 23% of 199 peers (All). weak.
Rank 23 of 100: lower than 23% of 15 peers (Sector). weak.
Median Consumer Discretionary: 0.76
Long-term financial debt divided by equity.
4.31 at fiscal year end
Rank 89 of 100: higher than 89% of 215 peers (All). strong.
Rank 93 of 100: higher than 93% of 22 peers (Sector). strong.
Median Consumer Discretionary: 1.15
Current assets divided by current liabilities.
+245.1% in 5 years
Rank 5 of 100: lower than 5% of 199 peers (All). weak.
Rank 11 of 100: lower than 11% of 22 peers (Sector). weak.
Median Consumer Discretionary: −7.4%
Change in diluted share count. Negative = share buybacks, positive = new shares.
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
No reported values for “Dividend per share” in this interval.
No reported values for “Dividend per share” in this interval.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 20.3B USD · Net income 1.4B USD · Net margin 6.9%
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Of 100 USD of revenue, 20.6 USD gross profit, 9.3 USD operating income and 6.9 USD net income remained.
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 20.3B USD | 100.0% |
| Gross profit | 4.2B USD | 20.6% |
| Cost of revenue | 16.1B USD | 79.4% |
| Operating income | 1.9B USD | 9.3% |
| Operating expenses | 2.3B USD | 11.4% |
| Net income | 1.4B USD | 6.9% |
| Taxes, interest & other (net) | 474.0M USD | 2.3% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
The operating margin rose in 3 years from −17.3% to 9.3%.
Gross marginOperating marginNet marginReturn on equity rose in 5 years from −44.2% to 40.9%.
Return on equityReturn on assets Return on equity hidden where equity is below 5% of total assets.The equity ratio rose in 5 years from 12.8% to 26.1%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases. Definition changes: some years use a different debt tag.The current ratio rose in 5 years from 4.12 to 4.31.
Current ratioFree cash flow rose in 5 years from −968.2M USD to 889.0M USD.
Operating cash flowCapital expenditureFree cash flow in USDThe share count rose in 5 years by 245.1% – more new shares were issued than repurchased (dilution).
Diluted share countFrom annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
Carvana next to 8 stocks of the sector Consumer Discretionary we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| BKNG Booking Holdings | 26.9B USD | +31.7% | – | 32.8% | – | – | −19.1% | 33.8% | – |
| MCD McDonald's | 26.9B USD | +7.0% | – | 46.1% | 31.9% | – | −3.0% | 26.7% | – |
| MAR Marriott International | 26.2B USD | +19.9% | – | 15.8% | 9.9% | – | −13.7% | 10.0% | – |
| ROST Ross Stores | 22.8B USD | +12.7% | 27.7% | 11.9% | 9.4% | 34.7% | 39.8% | 9.7% | 6/9 |
| CVNA Carvana this stock | 20.3B USD | +29.5% | 20.6% | 9.3% | 6.9% | 40.9% | 26.1% | 4.4% | 6/9 |
| RCL Royal Caribbean Group | 17.9B USD | +52.0% | 49.4% | 27.4% | 23.8% | 42.5% | 24.1% | 6.9% | 9/9 |
| DASH DoorDash | 13.7B USD | +36.6% | 50.9% | 5.3% | 6.8% | 9.3% | 51.0% | 15.8% | 6/9 |
| ABNB Airbnb | 12.2B USD | +29.4% | 83.0% | 20.8% | 20.5% | 30.6% | 36.9% | – | 6/9 |
| HLT Hilton Worldwide | 12.0B USD | +22.8% | – | 22.4% | 12.1% | – | −32.1% | 16.8% | – |
| Median of the sector 22 symbols | 26.5B USD | +12.7% | 33.4% | 11.5% | 8.6% | 19.9% | 26.1% | 8.9% | 6/9 |
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 50 symbols in the Consumer Discretionary sector on our list (current members of the S&P 500 and other lists).
+29.5% per year, last 5 years
Sector Consumer Discretionary: median +11.0% (49 symbols)
What does this mean? Revenue: over 5 years it grew by 29.5% per year on average – at least as fast as the median company in the sector (+11.0%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
– per year, last 5 years
Sector Consumer Discretionary: median +10.4% (32 symbols)
per share: not computable (loss in the first or last year)
What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
6.9% last fiscal year
Sector Consumer Discretionary: median 9.4% (49 symbols)
What does this mean? Of every 100 USD in revenue, 6.92 USD remained as profit – less than the median company in the sector (9.4%). Five years ago the margin was −3.1%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
1.21 latest balance sheet
Sector Consumer Discretionary: median 0.82 (31 symbols)
What does this mean? For every 1 USD of equity there is 1.21 USD of financial debt – more than the median company in the sector (0.82). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
– Dividend / earnings per share
Sector Consumer Discretionary: median 32% (26 symbols)
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
3 of 10 fiscal years with a profit
What does this mean? In 3 of the last 10 fiscal years the bottom line showed a profit. 7 years ended with a loss.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 20.3B | 1.4B | 6.9% | 8.45 | – | – |
| 2024 | Dec 31, 2024 | 13.7B | 210.0M | 1.5% | 1.59 | – | – |
| 2023 | Dec 31, 2023 | 10.8B | 450.0M | 4.2% | 0.75 | – | – |
| 2022 | Dec 31, 2022 | 13.6B | −1.6B | −11.7% | −15.74 | – | – |
| 2021 | Dec 31, 2021 | 12.8B | −135.0M | −1.1% | −1.63 | – | – |
| 2020 | Dec 31, 2020 | 5.6B | −171.1M | −3.1% | −2.63 | – | – |
| 2019 | Dec 31, 2019 | 3.9B | −114.7M | −2.9% | −2.45 | – | – |
| 2018 | Dec 31, 2018 | 2.0B | −61.8M | −3.2% | – | – | – |
| 2017 | Dec 31, 2017 | 858.9M | −62.8M | −7.3% | – | – | – |
| 2016 | Dec 31, 2016 | 365.1M | −93.1M | −25.5% | – | – | – |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q2/26 | Jun 30, 2026 | 7.4B | 310.0M | 4.2% | – | – | – |
| Q1/26 | Mar 31, 2026 | 6.4B | 250.0M | 3.9% | – | – | – |
| Q4/25* | Dec 31, 2025 | 5.6B | 857.0M | 15.3% | – | – | – |
| Q3/25 | Sep 30, 2025 | 5.6B | 151.0M | 2.7% | – | – | – |
| Q2/25 | Jun 30, 2025 | 4.8B | 183.0M | 3.8% | – | – | – |
| Q1/25 | Mar 31, 2025 | 4.2B | 216.0M | 5.1% | – | – | – |
| Q4/24* | Dec 31, 2024 | 3.5B | 79.0M | 2.2% | – | – | – |
| Q3/24 | Sep 30, 2024 | 3.7B | 85.0M | 2.3% | – | – | – |
| Q2/24 | Jun 30, 2024 | 3.4B | 18.0M | 0.5% | – | – | – |
| Q1/24 | Mar 31, 2024 | 3.1B | 28.0M | 0.9% | 0.24 | – | – |
| Q4/23* | Dec 31, 2023 | 2.4B | −114.0M | −4.7% | – | – | – |
| Q3/23 | Sep 30, 2023 | 2.8B | 782.0M | 28.2% | 7.05 | – | – |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $1.5M1 person | $25.3M6 people | −$23.7M |
| 6 months | $1.5M1 person | $53.8M6 people | −$52.2M |
| 12 months | $1.5M1 person | $273.6M11 people | −$272.0M |
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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