Carvana (CVNA) financials
Carvana revenue and earnings by year
Carvana's revenue was $20.3 billion in the fiscal year to December 31, 2025, up 48.6% from the year before. Net income was $1.41 billion, 6.9% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 56.3% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 20.3 | 13.7 | 10.8 | 13.6 | 12.8 | 5.6 | 3.9 | 2.0 | 0.9 | 0.4 |
| Revenue growth | 48.6% | 26.9% | -20.8% | 6.2% | 129.4% | 41.8% | 101.5% | 127.7% | 135.2% | — |
| Gross profit | 4.2 | 2.9 | 1.7 | 1.2 | 1.9 | 0.8 | 0.5 | 0.2 | 0.1 | 0.0 |
| Gross margin | 20.6% | 21.0% | 16.0% | 9.2% | 15.1% | 14.2% | 12.9% | 10.1% | 7.9% | 5.3% |
| Operating income | 1.9 | 1.0 | -0.1 | -2.4 | -0.1 | -0.3 | -0.3 | -0.2 | -0.2 | -0.1 |
| Operating margin | 9.3% | 7.2% | -0.7% | -17.3% | -0.8% | -5.9% | -7.1% | -11.7% | -18.1% | -24.5% |
| Net income | 1.4 | 0.2 | 0.5 | -1.6 | -0.1 | -0.2 | -0.1 | -0.1 | -0.1 | -0.1 |
| Net margin | 6.9% | 1.5% | 4.2% | -11.7% | -1.1% | -3.1% | -2.9% | -2.8% | -7.3% | -25.5% |
| Diluted EPS | — | $0.32 | — | -$3.15 | -$0.33 | -$0.53 | — | — | — | -$0.15 |
| Free cash flow | 0.9 | 0.8 | 0.8 | -1.8 | -3.2 | -1.0 | -1.0 | -0.6 | -0.3 | -0.3 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open CVNA in Markets.
See also: CVNA valuation and P/E history · CVNA returns
No forecast, no recommendation. This page describes Carvana from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.