CARVANA CO.
CVNA · Retail-Auto Dealers & Gasoline Stations · 200.6M shares · +44%/yr ↑ shares · EDGAR filings ↗
Grade
A85Scaled online used-car franchise compounding revenue ~49% with newly top-decile returns and positive free cash flow.
Strengths
- Top-decile ROA (10.7%), net margin 6.9% (92nd pct), net income +5.7x, $889M FCF
- 48.6% revenue growth with improving operating margin (9.3%, 89th pct) and ample liquidity
Risks
- Substantial indebtedness (D/E 1.4, 85th pct) and prior near-distress history (2022-23)
- Controlled-company/DriveTime related-party governance and used-vehicle cyclicality
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
20.6%
Operating margin
9.3%
Net margin
6.9%
Return on equity
40.9%
Return on assets
10.7%
ROIC
18.0%
Revenue growth (QoQ)
14.8%
Net-income growth
570.0%
Debt / equity
1.4×
Current ratio
4.3×
Free cash flow
$889M
Tangible book value
$3.4B
Cash & investments
$2.3B
Stock comp / revenue
0.5%
Supply chain
Customers (0)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-06 | Exec/director change5.03Shareholder voteExhibits | filing ↗ |
| 2026-04-29 | ResultsExhibits | filing ↗ |
| 2026-02-18 | ResultsExhibits | filing ↗ |
| 2025-10-29 | ResultsExhibits | filing ↗ |
| 2025-07-30 | ResultsExhibits | filing ↗ |
| 2025-05-07 | ResultsExhibits | filing ↗ |
| 2025-05-06 | Shareholder vote | filing ↗ |
| 2025-04-29 | Material agreementExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-06 | 2026-05-05 | 0001690820-26-000039 ↗ |
| 10-Q | 2026-04-29 | 2026-03-31 | 0001690820-26-000035 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001690820-26-000034 ↗ |
| 10-K | 2026-02-18 | 2025-12-31 | 0001690820-26-000009 ↗ |
| 8-K | 2026-02-18 | 2026-02-18 | 0001690820-26-000008 ↗ |
| 8-K | 2025-10-29 | 2025-10-29 | 0001690820-25-000352 ↗ |
| 10-Q | 2025-10-29 | 2025-09-30 | 0001690820-25-000353 ↗ |
| 10-Q | 2025-07-30 | 2025-06-30 | 0001690820-25-000312 ↗ |
| 8-K | 2025-07-30 | 2025-07-30 | 0001690820-25-000310 ↗ |
| 8-K | 2025-05-07 | 2025-05-07 | 0001690820-25-000160 ↗ |
| 10-Q | 2025-05-07 | 2025-03-31 | 0001690820-25-000161 ↗ |
| 8-K | 2025-05-06 | 2025-05-05 | 0001690820-25-000156 ↗ |