# Carvana Co. (CVNA) — Stock CV

Carvana Co. 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.

> 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.

## Identity

- **Ticker**: CVNA
- **Sector**: Consumer Cyclical
- **Industry**: Retail-Auto Dealers & Gasoline Stations
- **Headquarters**: TEMPE, AZ
- **Employees**: 23 100
- **Website**: https://www.carvana.com
- **Market cap**: $45.9B
- **Last price**: $63.73
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $25.1B
- **Net income**: $1.57B
- **Free cash flow**: $929M
- **Net debt**: $2.50B
- **P/E**: 44.7
- **Revenue growth (YoY)**: 54.0%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 55 |
| Growth | 32 |
| Profitability | 70 |
| Health | 37 |
| Quality | 48 |
| Moat | 0 |

## Qualifications (beginner checklist) — 7 of 10 passed

- [x] Revenue growing — +54.0% YoY
- [x] Profitable — $1.57B TTM
- [x] Profit growing — +570.0% YoY
- [x] Generates cash — $929M TTM
- [x] Debt under control — ~2.7y of cash flow to repay
- [x] Established company — $45.9B market cap
- [ ] Not printing shares — +35.4% shares over ~5y
- [ ] Proven track record — 3/9 profitable years
- [ ] Financially stable — health score 25/100
- [x] Valuation not extreme — P/E 44.7

## Experience (career milestones)

- **FY2025** — Best year on record: $1.41B net income
- **FY2023** — Turned profitable: $450M net income after a loss year
- **2023** — Carvana introduced same-day delivery for customers purchasing or selling a vehicle, the service is…
- **2022** — Carvana acquired ADESA, the nation’s second-largest wholesale auto auction chain, for $2.2 billion to…
- **FY2021** — Revenue crossed $10B: $12.8B for the year
- **FY2018** — Revenue crossed $1B: $1.96B for the year
- **2017** — The company went public and began trading on the New York Stock Exchange under the symbol CVNA
- **2017** — Also in the same year Carvana acquired rival automotive startup Calypso and in this same year Carvana's co-founders…

## 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

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $12.8B | -$135M | -$3.15B |
| FY2022 | $13.6B | -$1.59B | -$1.84B |
| FY2023 | $10.8B | $450M | $716M |
| FY2024 | $13.7B | $210M | $827M |
| FY2025 | $20.3B | $1.41B | $889M |

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Source: https://stockcv.com/CVNA — derived from company filings; may be delayed or incomplete. Information, not investment advice.