Carvana Co. income statement CVNA

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Carvana Co. reported revenue of $20.3 billion, up 48.6% from the year before. Net income was $1.4 billion, a profit margin of 6.9%. Operating income came to $1.9 billion, an operating margin of 9.3%. Diluted earnings per share were $8.45. Over the twelve months ended Sep 30, 2026, revenue was $27.5 billion and net income was $1.7 billion. Across the 9 fiscal years shown, revenue grew from $858.9 million in fiscal 2017 to $20.3 billion in fiscal 2025, about 48.5% a year.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.

Line	FY 2026 Sep 30, 2026	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018	FY 2017 Dec 31, 2017
Revenue	27,451 +50.3%	20,322 +48.6%	13,673 +26.9%	10,771 -20.8%	13,604 +6.2%	12,814 +129.4%	5,587 +41.8%	3,940 +101.5%	1,955 +127.7%	859
Cost of revenue	22,224 +54.7%	16,130 +49.4%	10,797 +19.3%	9,047 -26.8%	12,358 +13.5%	10,885 +127.1%	4,793 +39.6%	3,433 +95.2%	1,759 +122.4%	791
Gross profit	5,227 +33.9%	4,192 +45.8%	2,876 +66.8%	1,724 +38.4%	1,246 -35.4%	1,929 +142.9%	794 +56.6%	507 +157.7%	197 +188.9%	68
Selling, general and administrative	2,826 +29.9%	2,308 +23.2%	1,874 +4.3%	1,796 -34.4%	2,736 +34.6%	2,033 +80.6%	1,126 +43.1%	787 +85.1%	425 +90.4%	223
Other operating income (expense)	-2 +83.3%	-3 +75.0%	-12	—	—	—	—	—	—	—
Operating expenses	2,828 +29.3%	2,311 +22.5%	1,886	—	—	—	—	—	—	—
Operating income	2,399 +39.7%	1,881 +90.0%	990	—	—	—	—	—	—	—
Income tax	-2,612 -52140.0%	-2,785 -69525.0%	-4 -116.0%	25 +2400.0%	1 +0.0%	1	0	0	0	0
Net income	1,706 +171.2%	1,407 +570.0%	210 -53.3%	450 +128.4%	-1,587 -1075.6%	-135 +21.1%	-171 -48.7%	-115 -107.3%	-55 +11.7%	-63
Basic EPS	—	10.22 +494.2%	1.72 -58.3%	4.12	—	—	—	—	—	—
Diluted EPS	—	8.45 +431.4%	1.59 +112.0%	0.75 +104.8%	-15.74 -865.6%	-1.63	—	—	—	—
Weighted average shares, basic	—	138 +12.5%	122 +11.9%	109	—	—	—	—	—	—
Weighted average shares, diluted	—	224 +69.6%	132 -34.1%	201 +98.9%	101 +21.8%	83	—	—	—	—
Other measures
Interest coverage	6.06x	3.72x	1.52x	—	—	—	—	—	—	—
Margins
Gross margin	19.04%	20.63%	21.03%	16.01%	9.16%	15.05%	14.21%	12.87%	10.06%	7.93%
Operating margin	8.74%	9.26%	7.24%	—	—	—	—	—	—	—
Profit margin	6.21%	6.92%	1.54%	4.18%	-11.67%	-1.05%	-3.06%	-2.92%	-2.84%	-7.32%

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.

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Company profile

Industry: Retail-Auto Dealers & Gasoline Stations (SIC 5500)
Listed as: CVNA (NYSE)
Fiscal year ends: December 31
Incorporated in: DE
Headquarters: Tempe, AZ
SEC filer status: Large accelerated filer
SEC CIK: 1690820

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.