Carvana Co.

CVNA

$73.41

-1.01%

2026-09-03 16:00:00 EDT-$0.75

Consumer Cyclical

Auto - Dealerships

NYSE

Active Trading

Carvana Co., along with its subsidiaries, operates a digital platform facilitating the purchase and sale of pre-owned vehicles across the United States. ...

Price Action of CVNA

$73.41

-1.01%-$0.75

High—

Low—

52W High-24.6%

Rel. vol—

Interval

Range6.5h

Volume—SMA5SMA10

—

Carvana Co., founded in 2012 by Ernest Garcia III, Ryan Keeton, and Ben Huston, is headquartered in Tempe, Arizona. The company revolutionized the used car market by offering a fully digital platform for purchasing pre-owned vehicles, eliminating the traditional dealership experience. Carvana provides an extensive inventory of vehicles that undergo ...Carvana Co., founded in 2012 by Ernest Garcia III, Ryan Keeton, and Ben Huston, is headquartered in Tempe, Arizona. The company revolutionized the used car market by offering a fully digital platform for purchasing pre-owned vehicles, eliminating the traditional dealership experience. Carvana provides an extensive inventory of vehicles that undergo a rigorous 150-point inspection and certification process, ensuring quality and transparency. Customers can browse, finance, and purchase cars entirely online, with options for home delivery or pickup from distinctive Car Vending Machines. The company also offers financing solutions, vehicle warranties, and a 7-day money-back return policy, enhancing customer confidence. Carvana operates its own logistics network, enabling efficient delivery across the U.S., and also runs several vehicle auction sites. As of the latest data, the company has approximately 23,100 employees and is led by CEO Ernest Garcia III, a co-founder. Financially, Carvana reported a market capitalization of about $77 billion as of the snapshot date, with a price-to-earnings ratio of 24.34, indicating strong investor confidence. Despite high debt levels, the company has shown improving profitability with a net profit margin of 6.3% and a return on equity of 46.6% on a TTM basis. Carvana's innovative business model, focus on customer experience, and strategic use of technology have positioned it as a major disruptor in the automotive retail industry.ExpandCollapse

Founded

2012

Employees

23100

CEO

Ernest C. Garcia

Full Name

Carvana Co.

Sector

Consumer Cyclical

Industry

Auto - Dealerships

ROE

46.57%

Market Cap

$80.52B

Current Ratio

3.93

WACC

19.96%

ROIC

5.38%

Contact Information

https://www.carvana.com

602 922 9866

300 East Rio Salado Parkway, Tempe, AZ 85281

Key Metrics of CVNA

Snapshot

Latest / TTM · 6 periods

Market Cap

$80.52B

ROCE

17.9%

EV / EBITDA

588.10x

+1.8% YoY

FCF Yield

1.2%

-0.4% YoY

Cash Conversion Cycle

54.4d

Current Ratio

3.93

Quick take

TTM —

Positive CCC

Financial Highlights of CVNA

Profitability trend

Latest / TTM · 6 periods

Gross Margin

19.4%

Net Margin

6.3%

P/E Ratio

25.37x

n/a

Debt / Equity

1.40

n/a

Current Ratio

3.93

Dividend Yield

0.0%

Understanding

TTM —

No major balance sheet stress in these headline ratios.

Calendar of CVNA

Upcoming

Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $0.44 · Revenue $7.61B · 8 analysts
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $0.38 · Revenue $7.48B · 8 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $1.62 · Revenue $28.90B · 9 analysts
Mar 30, 2027
Q1 FY2027 · Estimated results
Est. EPS $0.50 · Revenue $8.27B · 3 analysts

Recent history

Jul 29, 2026
Q2 FY2026 · Results reported
EPS $0.42 · Revenue $7.38B
View filing
Apr 29, 2026
Q1 FY2026 · Results reported
EPS $0.34 · Revenue $6.43B
View filing
Feb 18, 2026
FY2025 · Annual results
EPS $1.69 · Revenue $20.32B
View filing
Oct 29, 2025
Q3 FY2025 · Results reported
EPS $0.21 · Revenue $5.65B
View filing
Jul 30, 2025
Q2 FY2025 · Results reported
EPS $0.26 · Revenue $4.84B
View filing
May 7, 2025
Q1 FY2025 · Results reported
EPS $0.30 · Revenue $4.23B
View filing

Financial Statements of CVNA

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$20.3B	+48.6%	+14.7%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$1.4B	+570.0%	+24.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+20.6%	+4.0%	-5.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	+9.3%	+26.3%	+2.1%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	+6.9%	+350.8%	+8.1%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$889.0M	+7.5%	+233.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	+4.4%	-27.7%	+191.2%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	160.4%	-66.6%	-6.4%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	4.31x	+18.5%	-3.9%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$13.2B	+55.6%	+5.7%

Actual vs Estimate

A Dec 31Q Sep 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	1.69 vs 1.01	+67.6%	0.42 vs 0.44	-4.5%
Revenue Surprise	$20.3B vs $20.0B	+1.6%	$7.4B vs $7.6B	-3.0%

Insider Transactions of CVNA

Acquisitions (A)

Since Aug 3, 2026

Disposals (D)

Since Aug 3, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Aug 14, 2026	PLATT IRA J.	director	Class A Common Stock	A	15,000	$3.00
Aug 14, 2026	PLATT IRA J.	director	Class A Common Stock	D	15,000	$75.50
Aug 14, 2026	PLATT IRA J.	director	Stock Options (Right to Buy)	D	15,000	$3.00
Aug 14, 2026	QUAYLE J DANFORTH	director	Class A Common Stock	A	14,525	$3.00
Aug 14, 2026	QUAYLE J DANFORTH	director	Class A Common Stock	D	14,525	$75.00

Earnings Call Transcript of CVNA

1 transcript segments

Q2 2026

Unknown Speaker

Operator: Hello, and welcome to the Carvana Second Quarter 2026 Earnings Call. I will now turn the conference over to Meg Kehan, Investor Relations. Please go ahead. Margaret Kehan: Thank you. Good afternoon, ladies and gentlemen, and thank you for joining us on Carvana's Second Quarter 2026 Earnings Conference Call. Please note that this call is being webcast and can be accessed along with our Q2 shareholder letter and supplemental financial tables, on the Investor Relations section of the company's corporate website at investors.carvana.com. Joining me on the call today are Ernie Garcia, Chief Executive Officer; and Mark Jenkins, Chief Financial Officer. Before we get started, I would like to remind you that this discussion contains forward-looking statements within the meaning of the federal securities laws, including, but not limited to, Carvana's market opportunities and future financial results that involve risks and uncertainties that may cause actual results to differ materially from those discussed here. A detailed discussion of these factors can be found in the Risk Factors section of Carvana's most recent Forms 10-K and 10-Q. These forward-looking statements are based on current expectations as of today, and Carvana assumes no obligation to update or revise them. Our commentary today will include non-GAAP financial metrics. GAAP reconciliations can be found in the shareholder letter posted on our IR website. And with that said, I'd like to turn the call over to Ernest Garcia. Ernie? Ernest Garcia: Thanks, Meg, and thanks, everyone, for joining the call. The second quarter was another exciting quarter for Carvana. We sold almost 200,000 cars in the quarter. The power of compounding is clear in that number as it is almost double the number of cars we sold just 2 years ago. That sales volume puts us at just 2% market share of the used car market and 1.5% of the auto retail market as a whole. These numbers make the size of our opportunity exceedingly clear. In Q2, we also crossed over $3 billion adjusted EBITDA annual run rate for the first time. And that adjusted EBITDA isn't your typical growth company variety as is apparent based on how much flows further down the income statement. Our operating income and net income run rates were about $2.7 billion and $2 billion, respectively. In the shareholder letter, we shared some simple data related to the inventory growth and sales growth by region that looks detailed at first but that tells a much bigger story. Over the last couple of years, we've been rapidly adding retail production capacity to ADESA sites and existing inspection centers. This has led to variation in inventory growth rates in different parts of the country. The 2 regions where we added the most production capacity, the Midwest and the Northeast, grew inventory by 57%. In those markets, sales grew in the second quarter by 54%. In the 2 regions where we added the least incremental production capacity over the last year, the …

Leadership Team of CVNA

10 executives

Name	Title	Compensation	Gender	Year Born	Status
Mark Jenkins	Chief Financial Officer	USD 976,082	Male	1979	Active
Benjamin Huston	Co-Founder & Chief Operating Officer	USD 974,178	Male	1983	Active
Ernest C. Garcia	Co-Founder, President, Chief Executive Officer & Chairman	USD 963,434	Male	1983	Active
Daniel Gill	Chief Product Officer	USD 876,837	Male	1983	Active
Thomas Taira	President of Special Projects	USD 845,894	Male	1971	Active
Paul Breaux	Vice President, General Counsel, Secretary & Chief Compliance Officer	USD 594,424	Male	1984	Active
Ryan S. Keeton	Co-Founder & Chief Brand Officer	USD 544,522	Male	1978	Active
Michael McKeever	Head of Capital Markets, Investor Relations and Treasury	—	Male	—	Active
Stephen R. Palmer	Vice President of Accounting & Finance	—	Male	1978	Active
Christina Keiser	Executive Vice President of Strategy	—	Female	—	Active

Recent News of CVNA

Zacks Investment Research8/28/2026Neutral

Why Is Carvana (CVNA) Up 20.6% Since Last Earnings Report?

Carvana (CVNA) reported earnings 30 days ago. What's next for the stock?

24/7 Wall Street8/25/2026Neutral

Carvana Jumps 5% as Risk Appetite Returns to High-Beta Names; CarMax and Lithia Motors Inch Higher

Risk appetite is doing the driving in auto retail this Tuesday, and Carvana (NYSE:CVNA | CVNA Price Prediction) is catching most of the lift.

PYMNTS8/19/2026Neutral

Carvana Shares Rebound as Mark Walter Selloff Fears Ease

Carvana shares climbed as much as 9.3% Wednesday (Aug. 19), after dropping 14% over the previous two days, when a report said billionaire Mark Walter wouldn't be able to immediately sell his stake in the online car retailer, Bloomberg reported Wednesday.

GuruFocus8/19/2026Neutral

Carvana Co (CVNA) Shares Surge 8.4% -- What GF Score of 73 Tells Investors

On August 19, 2026, Carvana Co (CVNA) shares rose 8.4%, currently trading at $70.44. The stock has experienced a 52-week range of $54.46 to $97.38, demonstratin

CNBC8/19/2026Neutral

Carvana shares on pace for 10% weekly loss as Mark Walter probe fuels investor jitters

The scrutiny raised questions about what could happen to Walter's Carvana position if fallout from the investigation pressures him to raise cash.

Historical Employee Count of CVNA

Current

23,100

Change

+32.76%

Minimum

13,700

Maximum

23,100

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	23,100	10-K	Feb 18, 2026	View
Dec 31, 2024	17,400	10-K	Feb 19, 2025	View
Dec 31, 2023	13,700	10-K	Feb 22, 2024	View
Dec 31, 2022	16,600	10-K	Feb 23, 2023	View
Dec 31, 2021	21,000	10-K	Feb 24, 2022	View

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Carvana Co.