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Carvana Co. logo

Carvana Co.

Retail-Auto Dealers & Gasoline Stations

$63.73
+0.84%
Market cap $45.9B

Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues.

It is a $45.9B consumer company. Revenue grew 54.0% over the last year, it keeps 6¢ of every dollar of sales as profit, and its net debt equals ~2.7 years of free cash flow. It trades at 44.7× earnings.

Location
Tempe, AZ
Employees
23 100
Sector
Consumer Cyclical

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Valuation55Growth32Profitability70Health37Quality48Moat0

Growth, Health, Quality and Moat lag behind.

Valuation55
  • P/E vs own history14th pct · 25/25
  • FCF yield2.0% · 5/25
  • P/S2.8x · 20/25
  • EV/EBITDA30.5x · 5/25
Growth32
  • Revenue CAGR12.2% · 20/25
  • Net income CAGRn/a · 0/25
  • EPS CAGR ~5Yn/a · 0/25
  • Fwd implied growth13.5% · 12/25
Profitability70
  • ROIC23.7% · 20/25
  • ROE46.6% · 25/25
  • Net margin6.3% · 13/25
  • Operating margin8.9% · 12/25
Health37
  • Altman Zn/a · 0/25
  • Current ratio3.93 · 25/25
  • Interest coverage-0.8x · 0/25
  • Net cash / debtD/A 19% · 12/25
Quality48
  • Piotroski F6/9 · 15/25
  • Beneish M-1.75 · 6/25
  • FCF conversion59% · 15/25
  • Margin stabilityσ 9.2% · 12/25
Moat0
  • ROIC >12% years2/8 yrs · 0/25
  • Median gross margin14.2% · 0/25
  • FCF-positive years3/9 yrs · 0/25
  • Worst-year net marginworst -11.7% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

  1. FY2025Financial
    Best year on record
    $1.41B net income
  2. FY2023Financial
    Turned profitable
    $450M net income after a loss year
  3. 2023Product
    Carvana introduced same-day delivery for customers purchasing or selling a vehicle, the service is…
  4. 2022Acquisition
    Carvana acquired ADESA, the nation’s second-largest wholesale auto auction chain, for $2.2 billion to…
  5. FY2021Financial
    Revenue crossed $10B
    $12.8B for the year
  6. FY2018Financial
    Revenue crossed $1B
    $1.96B for the year
  7. 2017IPO
    The company went public and began trading on the New York Stock Exchange under the symbol CVNA
  8. 2017Acquisition
    Also in the same year Carvana acquired rival automotive startup Calypso and in this same year Carvana's co-founders…

Achievements

Verifiable track record, straight from the reported numbers.

#28 largest of 99 Consumer Cyclical companies by market cap
$10 000 invested in 2021 would be worth ~$9 683 today — price return only
$20.3B revenue in FY2025
Revenue up 54.0% year over year
Profitable 3 years in a row
Positive free cash flow 3 years in a row
23 100 employees
ROIC of 23.7%

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

  • Revenue growing 54.0% year over year
  • High returns on invested capital (ROIC 23.7%)

Watch-outs

  • Thin interest coverage (-0.8×)
  • Loss-making in 6 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

7 of 10 checks passed
  • Revenue growing+54.0% YoY
  • Profitable$1.57B TTM
  • Profit growing+570.0% YoY
  • Generates cash$929M TTM
  • Debt under control~2.7y of cash flow to repay
  • Established company$45.9B market cap
  • Not printing shares+35.4% shares over ~5y
  • Proven track record3/9 profitable years
  • Financially stablehealth score 25/100
  • Pays a dividendno data
  • Valuation not extremeP/E 44.7
Peer comparisonCarvana Co. vs 6 largest consumer cyclical peers — cap, P/E, growth and margin side by sideOpen ▾
CompanyMarket capP/ERevenue growthNet marginProfile
CVNA this company$45.9B44.7+54.0%6.3%Strained
AMZN Amazon.Com Inc$2.8T20.9+15.8%17.4%Mixed
TSLA Tesla, Inc.$1.5T397.1+11.8%3.7%Strong
NFLX NetFlix Inc$292.8B21.4+16.0%28.2%Solid
HD Home Depot, Inc.$290.4B20.4-16.0%8.7%Solid
DIS The Walt Disney Company$186.5B21.7+4.6%8.7%Solid
MCD McDonald's Corporation$166.9B18.9+6.3%31.7%Strained

Head-to-head: CVNA vs AMZN · CVNA vs TSLA · CVNA vs NFLX

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 10Buy 12Hold 10Sell 1

Appendix · Financial records

The full statements behind this CV, FY2017–FY2025. For readers who want to check the numbers.

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of CVNA on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $63.73 · market cap $45.9B.