CARVANA CO.

CVNACIK 000169082011 fiscal years

RevenueFY2025

$20.32B48.6%

Net incomeFY2025

$1.41B570.0%

Free cash flowFY2025

$889.0M7.5%

Diluted EPSFY2025

$8.45431.4%

Trends

FY2015–FY2025 · hover a year for its filing

Revenue & net incomeRevenueNet income

revenue 155.9× since FY2015 · net margin -28.2% → 6.9%

MarginsNet marginFCF margin

FY2025: net 6.9% · free cash flow 4.4% of revenue

Cash flowOperating cash flowFree cash flow

FY2025: $1.04B operating cash − $147.0M capex = $889.0M free cash flow

Returns on capitalReturn on equityReturn on assets

return on equity -50% (FY2017) → 41% (FY2025) · on assets 10.7%

Balance sheetLiabilitiesEquity

FY2025: $13.20B assets · $9.00B liabilities · $3.44B equity

Financial statements

Annual Quarterly

USD millions, except per-share values; share counts in millions. Hover a value for its XBRL tag and filing accession.

USD millions	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Revenue	20,322	13,673	10,771	13,604	12,814	5,587	3,940	1,955	859	365	130
Net income	1,407	210	450	(1,587)	(135)	(171)	(115)	(55)	(63)	(93)	(37)
Diluted EPS	8.45	1.59	0.75	(15.74)	(1.63)	(2.63)	(2.45)	—	—	—	—
Diluted shares	224	132	201	101	83	65	47	—	—	—	—
Operating cash flow	1,036	918	803	(1,324)	(2,594)	(608)	(757)	(414)	(200)	(240)	(54)
Capital expenditures	147	91	87	512	557	360	231	144	78	40	14
Free cash flow	889	827	716	(1,836)	(3,151)	(968)	(988)	(558)	(278)	(280)	(67)
Cash & equivalents	2,327	1,716	530	434	403	301	76	79	173	39	—
Total assets	13,201	8,484	7,071	8,698	7,015	3,035	2,058	991	641	336	—
Total liabilities	8,998	7,109	7,455	9,751	6,490	2,233	1,866	764	362	201	—
Shareholders' equity	3,441	1,260	243	(518)	306	388	98	80	126	—	—

As reported in SEC filings; a missing tag shows “—”, never zero. Free cash flow is operating cash flow − capex. Methodology