Carvana (CVNA) Financials

$204.86 -1.34 (-0.65%)

As of 03:58 PM Eastern

Annual Income Statements for Carvana

This table shows Carvana's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-37	-93	-64	-61	-115	-171	-135	-1,587	450	210
Consolidated Net Income / (Loss)	-37	-93	-164	-255	-365	-462	-287	-2,894	150	404
Net Income / (Loss) Continuing Operations	-37	-93	-164	-255	-365	-462	-287	-2,894	150	404
Total Pre-Tax Income	-37	-93	-164	-255	-365	-462	-286	-2,893	175	400
Total Operating Income	-35	-89	-155	-229	-280	-332	-104	-2,351	-80	990
Total Gross Profit	1.35	19	68	197	507	794	1,929	1,246	1,724	2,876
Total Revenue	130	365	859	1,955	3,940	5,587	12,814	13,604	10,771	13,673
Operating Revenue	130	365	859	1,955	3,940	5,587	12,814	13,604	10,771	13,673
Total Cost of Revenue	129	346	791	1,759	3,433	4,793	10,885	12,358	9,047	10,797
Operating Cost of Revenue	129	346	791	1,759	3,433	4,793	10,885	12,358	9,047	10,797
Total Operating Expenses	37	109	223	425	787	1,126	2,033	3,597	1,804	1,886
Selling, General & Admin Expense	37	109	223	425	787	1,126	2,033	2,736	1,796	1,874
Other Operating Expenses / (Income)	-	-	-	-	-	-	-	14	8.00	12
Impairment Charge	-	-	-	-	-	0.00	0.00	847	0.00	0.00
Total Other Income / (Expense), net	-1.45	-3.63	-9.01	-26	-85	-130	-182	-542	255	-590
Interest Expense	1.41	3.59	7.66	25	81	131	176	486	-246	663
Other Income / (Expense), net	-0.04	-0.05	-1.35	-1.18	-4.00	1.00	-6.00	-56	9.00	73
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	1.00	1.00	25	-4.00
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.00	-101	-199	-250	-291	-152	-1,307	-300	194
Basic Earnings per Share	($0.27)	($0.68)	($1.31)	($2.03)	($2.45)	($2.63)	($1.63)	($15.74)	$4.12	$1.72
Weighted Average Basic Shares Outstanding	-	15M	15.24M	30.04M	46.85M	64.98M	82.81M	100.83M	109.32M	122.34M
Diluted Earnings per Share	($0.27)	($0.68)	($1.31)	($2.03)	($2.45)	($2.63)	($1.63)	($15.74)	$0.75	$1.59
Weighted Average Diluted Shares Outstanding	-	15M	15.24M	30.04M	46.85M	64.98M	82.81M	100.83M	200.58M	132.21M
Weighted Average Basic & Diluted Shares Outstanding	-	15M	15.24M	30.04M	46.85M	64.98M	173.00M	188.97M	201.90M	213.17M

This table shows Carvana's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	-283	-806	-160	-58	782	-114	28	18	85	79
Consolidated Net Income / (Loss)	-508	-1,441	-286	-105	741	-200	49	48	148	159
Net Income / (Loss) Continuing Operations	-508	-1,441	-286	-105	741	-200	49	48	148	159
Total Pre-Tax Income	-508	-1,441	-288	-105	770	-202	48	49	147	156
Total Operating Income	-297	-1,300	-132	42	48	-38	134	259	337	260
Total Gross Profit	359	193	341	499	482	402	591	715	807	763
Total Revenue	3,386	2,837	2,606	2,968	2,773	2,424	3,061	3,410	3,655	3,547
Operating Revenue	3,386	2,837	2,606	2,968	2,773	2,424	3,061	3,410	3,655	3,547
Total Cost of Revenue	3,027	2,644	2,265	2,469	2,291	2,022	2,470	2,695	2,848	2,784
Operating Cost of Revenue	3,027	2,644	2,265	2,469	2,291	2,022	2,470	2,695	2,848	2,784
Total Operating Expenses	656	1,493	473	457	434	440	457	456	470	503
Selling, General & Admin Expense	656	632	472	452	433	439	456	455	469	494
Other Operating Expenses / (Income)	-	-	1.00	5.00	1.00	1.00	1.00	1.00	1.00	9.00
Total Other Income / (Expense), net	-211	-141	-156	-147	722	-164	-86	-210	-190	-104
Interest Expense	153	153	159	155	-725	165	173	175	161	154
Other Income / (Expense), net	-58	12	3.00	8.00	-3.00	1.00	87	-35	-29	50
Income Tax Expense	0.00	-	-2.00	0.00	29	-2.00	-1.00	1.00	-1.00	-3.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-225	-635	-126	-47	-41	-86	21	30	63	80
Basic Earnings per Share	($2.67)	($7.83)	($1.51)	($0.55)	$7.05	($0.87)	$0.24	$0.15	$0.69	$0.64
Weighted Average Basic Shares Outstanding	105.86M	100.83M	106.01M	106.22M	110.84M	109.32M	116.30M	118.93M	123.88M	122.34M
Diluted Earnings per Share	($2.67)	($7.83)	($1.51)	($0.55)	$3.60	($0.79)	$0.24	$0.14	$0.64	$0.57
Weighted Average Diluted Shares Outstanding	105.86M	100.83M	106.01M	106.22M	205.96M	200.58M	212.24M	128.47M	133.56M	132.21M
Weighted Average Basic & Diluted Shares Outstanding	188.85M	188.97M	189.08M	189.44M	199.65M	201.90M	202.57M	206.94M	207.63M	213.17M

This table details how cash moves in and out of Carvana's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	36	66	138	-98	30	211	307	-8.00	-34	1,166
Net Cash From Operating Activities	-54	-240	-200	-414	-757	-608	-2,594	-1,324	803	918
Net Cash From Continuing Operating Activities	-54	-179	-200	-414	-757	-608	-2,594	-1,324	803	918
Net Income / (Loss) Continuing Operations	-37	-93	-164	-255	-365	-462	-287	-2,894	150	404
Consolidated Net Income / (Loss)	-37	-93	-164	-255	-365	-462	-287	-2,894	150	404
Depreciation Expense	2.80	4.66	12	24	41	74	105	261	352	305
Amortization Expense	0.00	0.00	1.65	2.31	6.00	8.00	11	27	24	15
Non-Cash Adjustments To Reconcile Net Income	0.08	40	-16	-39	-194	-28	-554	-90	-206	386
Changes in Operating Assets and Liabilities, net	-20	-130	-33	-147	-245	-200	-1,869	1,372	483	-192
Net Cash From Investing Activities	-16	-40	-78	-150	-228	-346	-627	-2,583	31	-13
Net Cash From Continuing Investing Activities	-16	-40	-78	-150	-228	-346	-627	-2,583	31	-13
Purchase of Property, Plant & Equipment	-14	-40	-78	-144	-231	-360	-557	-512	-87	-91
Acquisitions	-	0.00	0.00	-6.67	-	0.00	0.00	-2,196	-7.00	0.00
Sale of Property, Plant & Equipment	-	-	-	-	-	0.00	0.00	44	72	11
Other Investing Activities, net	-2.12	-	0.00	0.00	3.00	14	56	81	53	67
Net Cash From Financing Activities	106	284	416	466	1,015	1,165	3,528	3,899	-868	261
Net Cash From Continuing Financing Activities	106	284	416	466	1,015	1,165	3,528	3,899	-868	261
Repayment of Debt	-100	-289	-870	-1,947	-4,246	-5,641	-12,684	-13,741	-8,147	-4,278
Issuance of Debt	125	411	982	2,247	4,968	5,765	16,250	16,417	6,841	3,287
Issuance of Common Equity	0.00	0.08	206	172	299	1,064	2.00	1,231	453	1,271
Other Financing Activities, net	50	0.00	-0.66	-1.71	-6.00	-23	-40	-8.00	-15	-19

This table details how cash moves in and out of Carvana's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-720	151	66	-17	-61	-22	-267	280	325	828
Net Cash From Operating Activities	-98	-739	-66	509	599	-239	101	354	403	60
Net Cash From Continuing Operating Activities	-98	-739	-66	509	599	-239	101	354	403	60
Net Income / (Loss) Continuing Operations	-508	-1,441	-286	-105	741	-200	49	48	148	159
Consolidated Net Income / (Loss)	-508	-1,441	-286	-105	741	-200	49	48	148	159
Depreciation Expense	78	82	93	90	87	82	82	76	73	74
Amortization Expense	8.00	7.00	8.00	6.00	6.00	4.00	5.00	4.00	4.00	2.00
Non-Cash Adjustments To Reconcile Net Income	-64	170	-261	491	-422	-14	-29	199	295	-79
Changes in Operating Assets and Liabilities, net	388	443	380	27	187	-111	-6.00	27	-117	-96
Net Cash From Investing Activities	-43	-15	-19	25	16	9.00	7.00	2.00	-15	-7.00
Net Cash From Continuing Investing Activities	-43	-15	-19	25	16	9.00	7.00	2.00	-15	-7.00
Purchase of Property, Plant & Equipment	-90	-61	-32	-18	-19	-18	-18	-22	-27	-24
Sale of Property, Plant & Equipment	-	44	12	21	25	14	5.00	3.00	1.00	2.00
Other Investing Activities, net	47	9.00	8.00	22	10	13	20	21	11	15
Net Cash From Financing Activities	-579	905	151	-551	-676	208	-375	-76	-63	775
Net Cash From Continuing Financing Activities	-579	905	151	-551	-676	208	-375	-76	-63	775
Repayment of Debt	-3,035	-1,481	-1,726	-3,270	-2,387	-764	-1,256	-1,392	-975	-655
Issuance of Debt	2,456	2,386	1,877	2,721	1,268	975	881	966	914	526
Issuance of Common Equity	1.00	-	-	-	453	-	-	-	-	921
Other Financing Activities, net	-1.00	-	-	-	-10	-3.00	-	-	-2.00	-17

This table presents Carvana's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	336	641	991	2,058	3,035	7,015	8,698	7,071	8,484
Total Current Assets	275	490	663	1,359	1,923	4,892	4,594	3,321	4,869
Cash & Equivalents	39	173	79	76	301	403	434	530	1,716
Restricted Cash	10	14	9.85	42	28	233	194	64	44
Short-Term Investments	-	-	-	99	131	382	321	366	464
Note & Lease Receivable	25	-	105	287	275	356	1,334	807	612
Accounts Receivable	5.69	14	33	40	79	206	253	266	303
Inventories, net	186	227	412	763	1,036	3,149	1,876	1,150	1,608
Other Current Assets	9.82	61	24	53	73	163	182	138	122
Plant, Property, & Equipment, net	61	149	297	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	0.00	2.74	31	698	1,112	2,123	4,104	3,750	3,615
Noncurrent Note & Lease Receivables	-	-	0.00	123	-	369	536	455	440
Intangible Assets	-	0.00	8.87	7.23	6.00	4.00	70	52	34
Other Noncurrent Operating Assets	0.00	2.74	13	558	1,097	1,741	3,498	3,243	3,141
Total Liabilities & Shareholders' Equity	336	641	991	2,058	3,035	7,015	8,698	7,071	8,484
Total Liabilities	201	362	764	1,866	2,233	6,490	9,751	7,455	7,109
Total Current Liabilities	196	306	330	865	467	2,890	2,592	1,536	1,338
Short-Term Debt	166	254	208	618	105	2,205	1,735	857	376
Accounts Payable	30	52	121	234	342	656	777	596	856
Other Current Liabilities	-	-	0.00	13	20	29	80	83	106
Total Noncurrent Liabilities	4.40	56	434	1,001	1,766	3,600	7,159	5,919	5,771
Long-Term Debt	4.40	48	425	883	1,617	3,208	6,574	5,416	5,256
Other Noncurrent Operating Liabilities	0.00	7.09	8.73	118	1.00	392	585	503	515
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-116	280	227	192	802	525	-1,053	-384	1,375
Total Preferred & Common Equity	-116	126	80	98	388	306	-518	243	1,260
Preferred Stock	-	97	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-116	29	80	98	388	306	-518	243	1,260
Common Stock	-	42	148	281	742	795	1,558	1,869	2,676
Retained Earnings	-	-13	-68	-183	-354	-489	-2,076	-1,626	-1,416
Noncontrolling Interest	-	154	148	94	414	219	-535	-627	115

This table presents Carvana's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	9,621	8,646	7,849	7,025	6,983	7,170	7,368
Total Current Assets	4,469	4,616	3,912	3,186	3,232	3,477	3,765
Cash & Equivalents	316	488	541	544	252	542	871
Restricted Cash	161	206	136	72	75	65	61
Short-Term Investments	350	-	335	371	-	421	463
Accounts Receivable	359	342	335	318	351	349	363
Inventories, net	2,577	1,485	1,302	1,085	1,162	1,221	1,305
Other Current Assets	221	2,095	165	796	1,392	879	702
Plant, Property, & Equipment, net	0.00	3,195	0.00	0.00	2,919	0.00	0.00
Total Noncurrent Assets	5,152	835	3,937	3,839	832	3,693	3,603
Noncurrent Note & Lease Receivables	-	519	-	473	447	466	452
Intangible Assets	76	65	61	56	48	43	39
Other Noncurrent Operating Assets	4,229	251	3,876	3,310	337	3,184	3,112
Total Liabilities & Shareholders' Equity	9,621	8,646	7,849	7,025	6,983	7,170	7,368
Total Liabilities	9,247	9,968	9,255	7,227	7,294	7,055	7,082
Total Current Liabilities	1,878	2,850	2,179	1,395	1,274	1,118	1,159
Short-Term Debt	788	1,904	1,360	629	469	275	285
Accounts Payable	1,009	864	739	681	705	742	772
Other Current Liabilities	81	82	80	85	100	101	102
Total Noncurrent Liabilities	7,369	7,118	7,076	5,832	6,020	5,937	5,923
Long-Term Debt	6,616	6,553	6,542	5,305	5,544	5,428	5,431
Capital Lease Obligations	669	493	466	450	424	444	429
Other Noncurrent Operating Liabilities	84	72	68	77	52	65	63
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	374	-1,322	-1,406	-202	-311	115	286
Total Preferred & Common Equity	274	-660	-697	339	289	526	611
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	274	-660	-697	339	289	526	611
Common Stock	1,544	1,576	1,597	1,851	1,887	2,106	2,106
Retained Earnings	-1,270	-2,236	-2,294	-1,512	-1,598	-1,580	-1,495
Noncontrolling Interest	100	-662	-709	-541	-600	-411	-325

This table displays calculated financial ratios and metrics derived from Carvana's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	180.04%	135.21%	127.68%	101.49%	41.80%	129.35%	6.17%	-20.82%	26.94%
EBITDA Growth	0.00%	-160.58%	-69.02%	-42.14%	-16.24%	-5.06%	102.41%	-35,416.67%	114.39%	353.44%
EBIT Growth	0.00%	-153.12%	-74.99%	-46.64%	-23.63%	-16.55%	66.77%	-2,088.18%	97.05%	1,597.18%
NOPAT Growth	0.00%	-153.25%	-73.57%	-47.16%	-22.51%	-18.57%	68.67%	-2,160.58%	95.83%	1,558.19%
Net Income Growth	0.00%	-153.13%	-76.49%	-55.03%	-43.28%	-26.58%	37.88%	-908.36%	105.18%	169.33%
EPS Growth	0.00%	-151.85%	-92.65%	-54.96%	-20.69%	-7.35%	38.02%	-865.64%	104.76%	112.00%
Operating Cash Flow Growth	0.00%	-348.95%	16.78%	-107.25%	-82.70%	19.68%	-326.64%	48.96%	160.65%	14.32%
Free Cash Flow Firm Growth	0.00%	0.00%	22.50%	-117.37%	-67.34%	-7.77%	-186.96%	-9.06%	143.18%	-12.49%
Invested Capital Growth	0.00%	0.00%	54.02%	95.58%	91.06%	49.93%	122.42%	28.19%	-21.85%	-2.96%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	19.55%	15.17%	14.87%	17.69%	-6.31%	-3.69%	8.95%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-14.19%	-8.65%	6.44%	-78.57%	-109.80%	132.34%	32.22%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-14.88%	-10.21%	2.66%	-44.74%	-93.33%	94.63%	48.46%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-14.88%	-9.50%	0.24%	-6.12%	-103.55%	92.62%	33.32%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-18.17%	-12.20%	-6.43%	-10.81%	-77.00%	113.75%	797.78%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-25.38%	-75.67%	111.92%	591.30%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	5.46%	-19.14%	-29.37%	20.97%	-63.87%	24.64%	165.02%	48.30%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-10.15%	-11.82%	-34.71%	32.87%	-12.44%	26.06%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	19.83%	15.11%	15.49%	25.80%	-17.23%	-5.12%	-5.02%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	1.03%	5.26%	7.93%	10.06%	12.87%	14.21%	15.05%	9.16%	16.01%	21.03%
EBITDA Margin	-24.98%	-23.24%	-16.70%	-10.43%	-6.02%	-4.46%	0.05%	-15.58%	2.83%	10.11%
Operating Margin	-27.10%	-24.50%	-18.08%	-11.69%	-7.11%	-5.94%	-0.81%	-17.28%	-0.74%	7.24%
EBIT Margin	-27.12%	-24.52%	-18.24%	-11.75%	-7.21%	-5.92%	-0.86%	-17.69%	-0.66%	7.77%
Profit (Net Income) Margin	-28.21%	-25.50%	-19.13%	-13.03%	-9.26%	-8.27%	-2.24%	-21.27%	1.39%	2.95%
Tax Burden Percent	100.00%	99.99%	100.00%	100.00%	100.00%	100.00%	100.35%	100.03%	85.71%	101.00%
Interest Burden Percent	103.99%	104.01%	104.89%	110.89%	128.52%	139.58%	260.00%	120.19%	-246.48%	37.63%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	14.29%	-1.00%
Return on Invested Capital (ROIC)	0.00%	-48.87%	-33.39%	-27.42%	-17.44%	-12.61%	-2.04%	-29.32%	-1.22%	20.59%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-99.09%	-80.39%	-56.13%	-35.93%	-29.65%	-9.42%	-50.56%	2.23%	6.93%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-89.04%	-45.88%	-73.08%	-156.63%	-80.36%	-41.21%	1,125.53%	-19.66%	60.94%
Return on Equity (ROE)	0.00%	-137.91%	-79.27%	-100.50%	-174.07%	-92.96%	-43.26%	1,096.21%	-20.88%	81.53%
Cash Return on Invested Capital (CROIC)	0.00%	-248.87%	-75.93%	-92.09%	-80.02%	-52.56%	-77.98%	-54.03%	23.31%	23.60%
Operating Return on Assets (OROA)	0.00%	-26.66%	-32.07%	-28.15%	-18.63%	-13.00%	-2.19%	-30.64%	-0.90%	13.67%
Return on Assets (ROA)	0.00%	-27.72%	-33.64%	-31.22%	-23.94%	-18.14%	-5.71%	-36.84%	1.90%	5.19%
Return on Common Equity (ROCE)	0.00%	118.46%	16.70%	-21.47%	-73.80%	-45.47%	-22.62%	440.15%	-4.00%	123.66%
Return on Equity Simple (ROE_SIMPLE)	0.00%	80.29%	-130.68%	-319.69%	-372.02%	-119.07%	-93.79%	558.69%	61.73%	32.06%
Net Operating Profit after Tax (NOPAT)	-25	-63	-109	-160	-196	-232	-73	-1,646	-69	1,000
NOPAT Margin	-18.97%	-17.15%	-12.66%	-8.18%	-4.97%	-4.16%	-0.57%	-12.10%	-0.64%	7.31%
Net Nonoperating Expense Percent (NNEP)	0.00%	50.22%	47.00%	28.72%	18.49%	17.05%	7.38%	21.24%	-3.45%	13.67%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-22.68%	-1.16%	14.27%
Cost of Revenue to Revenue	98.97%	94.74%	92.07%	89.94%	87.13%	85.79%	84.95%	90.84%	83.99%	78.97%
SG&A Expenses to Revenue	28.13%	29.76%	26.01%	21.75%	19.97%	20.15%	15.87%	20.11%	16.67%	13.71%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	28.13%	29.76%	26.01%	21.75%	19.97%	20.15%	15.87%	26.44%	16.75%	13.79%
Earnings before Interest and Taxes (EBIT)	-35	-90	-157	-230	-284	-331	-110	-2,407	-71	1,063
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-33	-85	-143	-204	-237	-249	6.00	-2,119	305	1,383
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	10.63	15.95	94.99	43.57	64.83	0.00	24.84	20.74
Price to Tangible Book Value (P/TBV)	0.00	0.00	10.63	20.67	114.32	45.33	67.71	0.00	31.61	21.32
Price to Revenue (P/Rev)	0.00	0.00	0.35	0.65	2.37	3.03	1.55	0.04	0.56	1.91
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	13.42	124.45
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.45%	0.80%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	1.70	2.54	7.25	8.47	4.97	1.16	2.18	6.20
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.78	1.00	2.72	3.35	1.91	0.54	1.00	2.17
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	4,075.38	0.00	35.16	21.44
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	27.90
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	29.66
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	13.35	32.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.19	25.88
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	1.26	1.08	2.79	7.82	2.33	10.31	-7.89	-16.34	4.10
Long-Term Debt to Equity	0.00	0.03	0.17	1.87	4.60	2.20	6.11	-6.24	-14.10	3.82
Financial Leverage	0.00	0.90	0.57	1.30	4.36	2.71	4.37	-22.26	-8.82	8.80
Leverage Ratio	0.00	2.49	2.36	3.22	7.27	5.12	7.57	-29.76	-10.97	15.70
Compound Leverage Factor	0.00	2.59	2.47	3.57	9.34	7.15	19.69	-35.77	27.05	5.91
Debt to Total Capital	0.00%	55.85%	51.96%	73.58%	88.66%	69.99%	91.16%	114.51%	106.52%	80.38%
Short-Term Debt to Total Capital	0.00%	54.41%	43.63%	24.17%	36.49%	3.93%	37.13%	23.91%	14.55%	5.37%
Long-Term Debt to Total Capital	0.00%	1.44%	8.33%	49.41%	52.17%	66.06%	54.02%	90.60%	91.97%	75.01%
Preferred Equity to Total Capital	0.00%	0.00%	16.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	82.07%	26.43%	17.16%	5.54%	15.49%	3.69%	-7.37%	-10.65%	1.64%
Common Equity to Total Capital	0.00%	-37.92%	4.92%	9.26%	5.80%	14.52%	5.15%	-7.14%	4.13%	17.98%
Debt to EBITDA	0.00	-2.01	-2.11	-3.11	-6.33	-7.51	902.17	-3.92	20.57	4.07
Net Debt to EBITDA	0.00	-1.43	-0.80	-2.67	-5.42	-5.66	732.50	-3.47	17.42	2.46
Long-Term Debt to EBITDA	0.00	-0.05	-0.34	-2.09	-3.73	-7.09	534.67	-3.10	17.76	3.80
Debt to NOPAT	0.00	-2.73	-2.78	-3.96	-7.66	-8.05	-74.35	-5.05	-91.48	5.63
Net Debt to NOPAT	0.00	-1.94	-1.06	-3.40	-6.55	-6.07	-60.37	-4.47	-77.48	3.41
Long-Term Debt to NOPAT	0.00	-0.07	-0.45	-2.66	-4.51	-7.59	-44.07	-3.99	-78.98	5.26
Altman Z-Score	0.00	0.00	1.35	2.51	4.62	6.44	3.85	0.62	1.96	4.50
Noncontrolling Interest Sharing Ratio	0.00%	185.89%	121.07%	78.64%	57.60%	51.09%	47.70%	59.85%	80.86%	-51.67%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.40	1.60	2.01	1.57	4.12	1.69	1.77	2.16	3.64
Quick Ratio	0.00	0.35	0.61	0.66	0.58	1.68	0.47	0.90	1.28	2.31
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-319	-247	-537	-899	-969	-2,781	-3,033	1,309	1,146
Operating Cash Flow to CapEx	-383.57%	-607.56%	-254.71%	-288.40%	-327.71%	-168.89%	-465.71%	-282.91%	5,353.33%	1,147.50%
Free Cash Flow to Firm to Interest Expense	0.00	-88.92	-32.28	-21.48	-11.10	-7.40	-15.80	-6.24	0.00	1.73
Operating Cash Flow to Interest Expense	-37.90	-66.97	-26.10	-16.56	-9.35	-4.64	-14.74	-2.72	0.00	1.38
Operating Cash Flow Less CapEx to Interest Expense	-47.77	-77.99	-36.35	-22.30	-12.20	-7.39	-17.90	-3.69	0.00	1.26
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	1.09	1.76	2.40	2.58	2.19	2.55	1.73	1.37	1.76
Accounts Receivable Turnover	0.00	64.15	86.77	82.81	107.97	94.01	89.92	59.28	41.51	48.06
Inventory Turnover	0.00	1.86	3.83	5.50	5.84	5.33	5.20	4.92	5.98	7.83
Fixed Asset Turnover	0.00	6.03	8.21	8.78	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	11.51	19.25	20.27	19.29	16.63	21.81	17.25	13.18	14.87
Days Sales Outstanding (DSO)	0.00	5.69	4.21	4.41	3.38	3.88	4.06	6.16	8.79	7.59
Days Inventory Outstanding (DIO)	0.00	195.72	95.30	66.38	62.46	68.49	70.17	74.21	61.04	46.62
Days Payable Outstanding (DPO)	0.00	31.70	18.96	18.01	18.92	21.95	16.73	21.16	27.70	24.54
Cash Conversion Cycle (CCC)	0.00	169.71	80.55	52.78	46.92	50.42	57.49	59.20	42.14	29.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	256	395	772	1,475	2,212	4,920	6,307	4,929	4,783
Invested Capital Turnover	0.00	2.85	2.64	3.35	3.51	3.03	3.59	2.42	1.92	2.82
Increase / (Decrease) in Invested Capital	0.00	256	138	377	703	737	2,708	1,387	-1,378	-146
Enterprise Value (EV)	0.00	0.00	670	1,963	10,697	18,730	24,452	7,327	10,723	29,657
Market Capitalization	0.00	0.00	304	1,271	9,320	16,906	19,838	502	6,037	26,134
Book Value per Share	$0.00	($7.73)	$0.22	$0.55	$0.97	$2.26	$1.77	($2.74)	$1.22	$6.07
Tangible Book Value per Share	$0.00	($7.73)	$0.22	$0.43	$0.81	$2.17	$1.70	($3.11)	$0.96	$5.90
Total Capital	0.00	306	582	861	1,693	2,672	5,938	7,256	5,889	7,007
Total Debt	0.00	171	302	633	1,501	1,870	5,413	8,309	6,273	5,632
Total Long-Term Debt	0.00	4.40	48	425	883	1,765	3,208	6,574	5,416	5,256
Net Debt	0.00	121	115	545	1,283	1,410	4,395	7,360	5,313	3,408
Capital Expenditures (CapEx)	14	40	78	144	231	360	557	468	15	80
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	196	250	453	895	1,101	3,189	2,788	1,682	1,683
Debt-free Net Working Capital (DFNWC)	0.00	245	438	541	1,112	1,561	4,207	3,737	2,642	3,907
Net Working Capital (NWC)	0.00	79	184	333	495	1,456	2,002	2,002	1,785	3,531
Net Nonoperating Expense (NNE)	12	30	56	95	169	230	214	1,248	-219	596
Net Nonoperating Obligations (NNO)	0.00	121	115	545	1,283	1,410	4,395	7,360	5,313	3,408
Total Depreciation and Amortization (D&A)	2.80	4.66	13	26	47	82	116	288	376	320
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	53.61%	29.16%	23.15%	22.71%	19.71%	24.89%	20.49%	15.62%	12.31%
Debt-free Net Working Capital to Revenue	0.00%	67.15%	50.95%	27.69%	28.23%	27.94%	32.83%	27.47%	24.53%	28.57%
Net Working Capital to Revenue	0.00%	21.59%	21.39%	17.05%	12.55%	26.06%	15.62%	14.72%	16.57%	25.82%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.27)	($0.68)	($1.31)	($2.24)	($2.45)	($2.63)	($1.63)	($15.74)	$4.12	$1.72
Adjusted Weighted Average Basic Shares Outstanding	0.00	15M	132.75M	145.54M	151.76M	172.26M	82.81M	100.83M	109.32M	122.34M
Adjusted Diluted Earnings per Share	($0.27)	($0.68)	($1.31)	($2.24)	($2.45)	($2.63)	($1.63)	($15.74)	$0.75	$1.59
Adjusted Weighted Average Diluted Shares Outstanding	0.00	15M	132.75M	145.54M	151.76M	172.26M	82.81M	100.83M	200.58M	132.21M
Adjusted Basic & Diluted Earnings per Share	($0.27)	($0.68)	($1.31)	($2.24)	($2.45)	($2.63)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	15M	15.24M	30.04M	46.85M	64.98M	173.00M	188.97M	201.90M	213.17M
Normalized Net Operating Profit after Tax (NOPAT)	-25	-63	-109	-160	-196	-232	-73	-1,053	-69	693
Normalized NOPAT Margin	-18.97%	-17.15%	-12.66%	-8.18%	-4.97%	-4.16%	-0.57%	-7.74%	-0.64%	5.07%
Pre Tax Income Margin	-28.21%	-25.50%	-19.13%	-13.03%	-9.26%	-8.27%	-2.23%	-21.27%	1.62%	2.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-25.05	-24.96	-20.45	-9.18	-3.51	-2.53	-0.63	-4.95	0.00	1.60
NOPAT to Interest Expense	-17.52	-17.46	-14.19	-6.39	-2.42	-1.77	-0.41	-3.39	0.00	1.51
EBIT Less CapEx to Interest Expense	-34.93	-35.98	-30.70	-14.93	-6.36	-5.27	-3.79	-5.92	0.00	1.48
NOPAT Less CapEx to Interest Expense	-27.40	-28.48	-24.44	-12.14	-5.27	-4.52	-3.58	-4.35	0.00	1.39
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-91.17%	0.00%	0.00%	-1.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-92.45%	-0.86%	0.00%	-1.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Carvana's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.70%	-24.41%	-25.48%	-23.58%	-18.10%	-14.56%	17.46%	14.89%	31.81%	46.33%
EBITDA Growth	-3,088.89%	-1,232.22%	92.98%	157.94%	151.30%	104.09%	1,200.00%	108.22%	178.99%	687.76%
EBIT Growth	-1,675.00%	-922.22%	70.81%	115.53%	112.68%	97.13%	271.32%	348.00%	584.44%	937.84%
NOPAT Growth	-1,191.30%	-1,150.00%	69.23%	112.92%	122.22%	97.08%	248.04%	762.97%	634.52%	1,096.24%
Net Income Growth	-647.06%	-691.76%	43.48%	76.08%	245.87%	86.12%	117.13%	145.71%	-80.03%	179.50%
EPS Growth	-602.63%	-645.71%	47.75%	76.60%	234.83%	89.91%	115.89%	125.45%	-82.22%	172.15%
Operating Cash Flow Growth	65.37%	36.95%	88.87%	380.19%	711.22%	67.66%	253.03%	-30.45%	-32.72%	125.10%
Free Cash Flow Firm Growth	-94.70%	17.40%	65.91%	141.57%	163.09%	158.83%	205.25%	-49.50%	-79.84%	-69.59%
Invested Capital Growth	94.84%	28.19%	19.18%	-24.12%	-31.82%	-21.85%	-16.37%	-12.03%	-3.06%	-2.96%
Revenue Q/Q Growth	-12.82%	-16.21%	-8.14%	13.89%	-6.57%	-12.59%	26.28%	11.40%	7.18%	-2.95%
EBITDA Q/Q Growth	-6.75%	-345.72%	97.66%	621.43%	-5.48%	-64.49%	528.57%	-1.30%	26.64%	0.26%
EBIT Q/Q Growth	-10.25%	-262.82%	89.98%	138.76%	-10.00%	-182.22%	697.30%	1.36%	37.50%	0.65%
NOPAT Q/Q Growth	8.62%	-337.71%	89.74%	131.82%	57.12%	-157.59%	730.38%	85.48%	33.73%	-21.90%
Net Income Q/Q Growth	-15.72%	-183.66%	80.15%	63.29%	805.71%	-126.99%	124.50%	-2.04%	208.33%	7.43%
EPS Q/Q Growth	-13.62%	-193.26%	80.72%	63.58%	754.55%	-121.94%	105.66%	-41.67%	357.14%	-10.94%
Operating Cash Flow Q/Q Growth	-192.45%	-654.08%	91.07%	871.21%	17.68%	-139.90%	142.26%	250.50%	13.84%	-85.11%
Free Cash Flow Firm Q/Q Growth	15.21%	41.36%	47.17%	258.92%	28.68%	-45.31%	37.74%	-23.75%	-48.61%	-17.52%
Invested Capital Q/Q Growth	-2.82%	-17.23%	9.94%	-14.19%	-12.69%	-5.12%	8.15%	-9.74%	-3.78%	-5.02%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	10.60%	6.80%	13.09%	16.81%	17.38%	16.58%	19.31%	20.97%	22.08%	21.51%
EBITDA Margin	-7.94%	-42.26%	-1.07%	4.92%	4.98%	2.02%	10.06%	8.92%	10.53%	10.88%
Operating Margin	-8.77%	-45.82%	-5.07%	1.42%	1.73%	-1.57%	4.38%	7.60%	9.22%	7.33%
EBIT Margin	-10.48%	-45.40%	-4.95%	1.68%	1.62%	-1.53%	7.22%	6.57%	8.43%	8.74%
Profit (Net Income) Margin	-15.00%	-50.79%	-10.97%	-3.54%	26.72%	-8.25%	1.60%	1.41%	4.05%	4.48%
Tax Burden Percent	100.00%	100.00%	99.31%	100.00%	96.23%	99.01%	102.08%	97.96%	100.68%	101.92%
Interest Burden Percent	143.10%	111.88%	223.26%	-210.00%	1,711.11%	545.95%	21.72%	21.88%	47.73%	50.32%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	3.77%	0.00%	-2.08%	2.04%	-0.68%	-1.92%
Return on Invested Capital (ROIC)	-15.46%	-77.73%	-7.07%	1.69%	2.91%	-2.10%	7.88%	15.52%	22.77%	21.04%
ROIC Less NNEP Spread (ROIC-NNEP)	-21.21%	-86.77%	-9.83%	-0.18%	13.90%	-4.84%	6.66%	12.23%	19.00%	18.61%
Return on Net Nonoperating Assets (RNNOA)	-204.80%	1,931.76%	108.54%	4.78%	1,021.64%	42.69%	-58.57%	-118.15%	2,295.61%	163.73%
Return on Equity (ROE)	-220.26%	1,854.03%	101.47%	6.47%	1,024.55%	40.58%	-50.69%	-102.62%	2,318.38%	184.77%
Cash Return on Invested Capital (CROIC)	-78.35%	-54.03%	-39.90%	10.44%	23.34%	23.31%	20.72%	19.86%	17.77%	23.60%
Operating Return on Assets (OROA)	-20.32%	-78.61%	-7.75%	2.17%	2.18%	-2.09%	10.37%	10.21%	14.70%	15.36%
Return on Assets (ROA)	-29.08%	-87.95%	-17.19%	-4.55%	35.91%	-11.27%	2.30%	2.19%	7.06%	7.88%
Return on Common Equity (ROCE)	-134.15%	744.42%	46.34%	1.89%	3,651.43%	7.77%	-11.52%	-13.59%	26,219.79%	280.23%
Return on Equity Simple (ROE_SIMPLE)	-596.72%	0.00%	405.15%	335.72%	-321.83%	0.00%	167.82%	121.29%	7.37%	0.00%
Net Operating Profit after Tax (NOPAT)	-208	-910	-92	29	46	-27	137	254	339	265
NOPAT Margin	-6.14%	-32.08%	-3.55%	0.99%	1.67%	-1.10%	4.47%	7.44%	9.28%	7.47%
Net Nonoperating Expense Percent (NNEP)	5.74%	9.03%	2.76%	1.88%	-10.99%	2.74%	1.22%	3.30%	3.77%	2.43%
Return On Investment Capital (ROIC_SIMPLE)	-	-12.54%	-	-	-	-0.45%	-	-	-	3.78%
Cost of Revenue to Revenue	89.40%	93.20%	86.91%	83.19%	82.62%	83.42%	80.69%	79.03%	77.92%	78.49%
SG&A Expenses to Revenue	19.37%	22.28%	18.11%	15.23%	15.61%	18.11%	14.90%	13.34%	12.83%	13.93%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	19.37%	52.63%	18.15%	15.40%	15.65%	18.15%	14.93%	13.37%	12.86%	14.18%
Earnings before Interest and Taxes (EBIT)	-355	-1,288	-129	50	45	-37	221	224	308	310
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-269	-1,199	-28	146	138	49	308	304	385	386
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.84	0.00	0.00	0.00	13.19	24.84	34.69	28.62	35.28	20.74
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	15.80	31.61	41.60	31.17	37.69	21.32
Price to Revenue (P/Rev)	0.15	0.04	0.08	0.23	0.40	0.56	0.89	1.29	1.72	1.91
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	13.42	15.71	21.08	1,268.18	124.45
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	7.45%	6.36%	4.74%	0.08%	0.80%
Enterprise Value to Invested Capital (EV/IC)	1.25	1.16	1.24	1.58	1.80	2.18	2.68	3.78	5.16	6.20
Enterprise Value to Revenue (EV/Rev)	0.65	0.54	0.68	0.80	0.83	1.00	1.38	1.69	2.07	2.17
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	35.16	24.23	24.73	24.84	21.44
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	55.68	43.62	36.29	27.90
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	84.37	50.12	34.65	29.66
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	30.79	13.35	16.01	24.25	41.98	32.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	13.06	6.24	8.19	11.78	17.80	28.59	25.88
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	21.59	-7.89	-6.77	-5.95	-31.60	-16.34	-20.70	53.45	21.49	4.10
Long-Term Debt to Equity	19.48	-6.24	-5.33	-4.98	-28.49	-14.10	-19.19	51.06	20.49	3.82
Financial Leverage	9.66	-22.26	-11.04	-26.44	73.51	-8.82	-8.80	-9.66	120.80	8.80
Leverage Ratio	13.85	-29.76	-12.78	-33.86	96.78	-10.97	-9.57	-11.63	171.35	15.70
Compound Leverage Factor	19.81	-33.29	-28.53	71.10	1,656.00	-59.91	-2.08	-2.54	81.78	7.90
Debt to Total Capital	95.57%	114.51%	117.33%	120.20%	103.27%	106.52%	105.08%	98.16%	95.55%	80.38%
Short-Term Debt to Total Capital	9.33%	23.91%	24.96%	19.53%	10.17%	14.55%	7.66%	4.39%	4.43%	5.37%
Long-Term Debt to Total Capital	86.24%	90.60%	92.37%	100.66%	93.09%	91.97%	97.42%	93.77%	91.12%	75.01%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.18%	-7.37%	-8.68%	-10.18%	-8.75%	-10.65%	-9.79%	-6.56%	-5.05%	1.64%
Common Equity to Total Capital	3.24%	-7.14%	-8.65%	-10.01%	5.48%	4.13%	4.72%	8.40%	9.50%	17.98%
Debt to EBITDA	-7.99	-3.92	-5.12	-6.20	-6.77	20.57	10.04	7.69	5.87	4.07
Net Debt to EBITDA	-7.17	-3.47	-4.72	-5.45	-5.72	17.42	9.53	6.41	4.54	2.46
Long-Term Debt to EBITDA	-7.21	-3.10	-4.03	-5.19	-6.10	17.76	9.31	7.35	5.60	3.80
Debt to NOPAT	-9.99	-5.05	-6.27	-7.15	-6.87	-91.48	34.96	15.59	8.19	5.63
Net Debt to NOPAT	-8.96	-4.47	-5.78	-6.28	-5.81	-77.48	33.18	12.98	6.33	3.41
Long-Term Debt to NOPAT	-9.01	-3.99	-4.93	-5.98	-6.19	-78.98	32.41	14.89	7.81	5.26
Altman Z-Score	1.67	1.05	1.37	1.56	1.99	1.97	2.55	3.10	3.81	4.20
Noncontrolling Interest Sharing Ratio	39.09%	59.85%	54.33%	70.85%	-256.40%	80.86%	77.28%	86.75%	-1,030.95%	-51.67%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.38	1.77	1.62	1.80	2.28	2.16	2.54	3.11	3.25	3.64
Quick Ratio	0.80	0.90	0.29	1.06	0.88	1.28	0.47	1.17	1.46	2.31
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-3,917	-2,297	-1,208	1,920	2,471	1,351	1,272	970	498	411
Operating Cash Flow to CapEx	-108.89%	-4,347.06%	-330.00%	0.00%	0.00%	-5,975.00%	776.92%	1,863.16%	1,550.00%	272.73%
Free Cash Flow to Firm to Interest Expense	-25.60	-15.01	-7.60	12.39	0.00	8.19	7.35	5.54	3.10	2.67
Operating Cash Flow to Interest Expense	-0.64	-4.83	-0.42	3.28	0.00	-1.45	0.58	2.02	2.50	0.39
Operating Cash Flow Less CapEx to Interest Expense	-1.23	-4.94	-0.54	3.30	0.00	-1.47	0.51	1.91	2.34	0.25
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.94	1.73	1.57	1.29	1.34	1.37	1.44	1.55	1.74	1.76
Accounts Receivable Turnover	54.08	59.28	46.23	30.92	33.04	41.51	32.40	34.12	36.86	48.06
Inventory Turnover	5.33	4.92	4.77	4.99	5.28	5.98	6.99	7.51	8.40	7.83
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	3.67	0.00	0.00	0.00
Accounts Payable Turnover	15.16	17.25	14.17	12.10	11.44	13.18	11.79	12.80	13.81	14.87
Days Sales Outstanding (DSO)	6.75	6.16	7.90	11.80	11.05	8.79	11.27	10.70	9.90	7.59
Days Inventory Outstanding (DIO)	68.51	74.21	76.50	73.09	69.12	61.04	52.21	48.58	43.47	46.62
Days Payable Outstanding (DPO)	24.08	21.16	25.75	30.17	31.90	27.70	30.95	28.52	26.42	24.54
Cash Conversion Cycle (CCC)	51.18	59.20	58.65	54.72	48.27	42.14	32.53	30.76	26.94	29.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,620	6,307	6,934	5,950	5,195	4,929	5,799	5,234	5,036	4,783
Invested Capital Turnover	2.52	2.42	1.99	1.71	1.75	1.92	1.76	2.09	2.45	2.82
Increase / (Decrease) in Invested Capital	3,709	1,387	1,116	-1,891	-2,425	-1,378	-1,135	-716	-159	-146
Enterprise Value (EV)	9,494	7,327	8,632	9,399	9,329	10,723	15,534	19,761	25,984	29,657
Market Capitalization	2,148	502	1,038	2,752	4,473	6,037	10,024	15,053	21,559	26,134
Book Value per Share	$1.45	($2.74)	($3.49)	($3.69)	$1.79	$1.22	$2.49	$2.60	$2.95	$6.07
Tangible Book Value per Share	($3.44)	($3.11)	($3.84)	($4.01)	$1.49	$0.96	$2.07	$2.38	$2.76	$5.90
Total Capital	8,447	7,256	7,628	6,962	6,182	5,889	6,126	6,262	6,431	7,007
Total Debt	8,073	8,309	8,950	8,368	6,384	6,273	6,437	6,147	6,145	5,632
Total Long-Term Debt	7,285	6,574	7,046	7,008	5,755	5,416	5,968	5,872	5,860	5,256
Net Debt	7,246	7,360	8,256	7,356	5,397	5,313	6,110	5,119	4,750	3,408
Capital Expenditures (CapEx)	90	17	20	-3.00	-6.00	4.00	13	19	26	22
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,552	2,788	2,976	2,081	1,433	1,682	2,100	1,606	1,496	1,683
Debt-free Net Working Capital (DFNWC)	3,379	3,737	3,670	3,093	2,420	2,642	2,427	2,634	2,891	3,907
Net Working Capital (NWC)	2,591	2,002	1,766	1,733	1,791	1,785	1,958	2,359	2,606	3,531
Net Nonoperating Expense (NNE)	300	531	194	134	-695	173	88	206	191	106
Net Nonoperating Obligations (NNO)	7,246	7,360	8,256	7,356	5,397	5,313	6,110	5,119	4,750	3,408
Total Depreciation and Amortization (D&A)	86	89	101	96	93	86	87	80	77	76
Debt-free, Cash-free Net Working Capital to Revenue	17.58%	20.49%	23.41%	17.64%	12.81%	15.62%	18.71%	13.76%	11.92%	12.31%
Debt-free Net Working Capital to Revenue	23.27%	27.47%	28.87%	26.22%	21.64%	24.53%	21.62%	22.57%	23.04%	28.57%
Net Working Capital to Revenue	17.84%	14.72%	13.89%	14.69%	16.01%	16.57%	17.44%	20.22%	20.76%	25.82%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($2.67)	($7.83)	($1.51)	($0.55)	$7.05	($0.87)	$0.24	$0.15	$0.69	$0.64
Adjusted Weighted Average Basic Shares Outstanding	105.86M	100.83M	106.01M	106.22M	110.84M	109.32M	116.30M	118.93M	123.88M	122.34M
Adjusted Diluted Earnings per Share	($2.67)	($7.83)	($1.51)	($0.55)	$7.05	($0.79)	$0.24	$0.14	$0.64	$0.57
Adjusted Weighted Average Diluted Shares Outstanding	105.86M	100.83M	106.01M	106.22M	205.96M	200.58M	212.24M	128.47M	133.56M	132.21M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	188.85M	188.97M	189.08M	189.44M	199.65M	201.90M	202.57M	206.94M	207.63M	213.17M
Normalized Net Operating Profit after Tax (NOPAT)	-208	-910	-92	29	46	-27	94	254	236	182
Normalized NOPAT Margin	-6.14%	-32.08%	-3.55%	0.99%	1.67%	-1.10%	3.06%	7.44%	6.45%	5.13%
Pre Tax Income Margin	-15.00%	-50.79%	-11.05%	-3.54%	27.77%	-8.33%	1.57%	1.44%	4.02%	4.40%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-2.32	-8.42	-0.81	0.32	0.00	-0.22	1.28	1.28	1.91	2.01
NOPAT to Interest Expense	-1.36	-5.95	-0.58	0.19	0.00	-0.16	0.79	1.45	2.11	1.72
EBIT Less CapEx to Interest Expense	-2.91	-8.53	-0.94	0.34	0.00	-0.25	1.20	1.17	1.75	1.87
NOPAT Less CapEx to Interest Expense	-1.95	-6.06	-0.71	0.21	0.00	-0.19	0.72	1.34	1.95	1.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Carvana's Financials

When does Carvana's financial year end?

According to the most recent income statement we have on file, Carvana's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Carvana's net income changed over the last 9 years?

Carvana's net income appears to be on an upward trend, with a most recent value of $404 million in 2024, falling from -$36.78 million in 2015. The previous period was $150 million in 2023.

What is Carvana's operating income?

Carvana's total operating income in 2024 was $990 million, based on the following breakdown:

Total Gross Profit: $2.88 billion
Total Operating Expenses: $1.89 billion

How has Carvana revenue changed over the last 9 years?

Over the last 9 years, Carvana's total revenue changed from $130.39 million in 2015 to $13.67 billion in 2024, a change of 10,386.1%.

How much debt does Carvana have?

Carvana's total liabilities were at $7.11 billion at the end of 2024, a 4.6% decrease from 2023, and a 3,440.0% increase since 2016.

How much cash does Carvana have?

In the past 8 years, Carvana's cash and equivalents has ranged from $39.18 million in 2016 to $1.72 billion in 2024, and is currently $1.72 billion as of their latest financial filing in 2024.

How has Carvana's book value per share changed over the last 9 years?

Over the last 9 years, Carvana's book value per share changed from 0.00 in 2015 to 6.07 in 2024, a change of 606.9%.

Remove Ads

Related Companies

This page (NYSE:CVNA) was last updated on 4/14/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Carvana (CVNA) Financials

Frequently Asked Questions About Carvana's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Carvana (CVNA) Financials

Annual Income Statements for Carvana

Quarterly Income Statements for Carvana

Annual Cash Flow Statements for Carvana

Quarterly Cash Flow Statements for Carvana

Annual Balance Sheets for Carvana

Quarterly Balance Sheets for Carvana

Annual Metrics and Ratios for Carvana

Quarterly Metrics and Ratios for Carvana

Frequently Asked Questions About Carvana's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools