Carvana Co. (CVNA) Financial Statements
Carvana financial statements at a glance
Carvana reported revenue of $20.32 billion for fiscal year 2025 (ended December 31, 2025), up 48.6% from fiscal year 2024. Net income was $1.41 billion, a net margin of 6.9%, and diluted earnings per share were $8.45.
At the end of fiscal year 2025 it had total assets of $13.20 billion, total liabilities of $9.00 billion and shareholders' equity of $3.44 billion, with cash and short-term investments of $2.81 billion and total debt of $5.52 billion.
Its operations brought in $1.04 billion of cash; capital spending was $147.00 million, leaving free cash flow of $889.00 million.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
Carvana Co.
Income Statement
Annual • USD
Carvana key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $20.3B | $13.7B | $10.8B | $13.6B | $12.8B |
| Gross profit | $4.2B | $2.9B | $1.7B | $1.2B | $1.9B |
| Operating income | $1.9B | $990.0M | -$80.0M | -$1.5B | -$104.0M |
| Net income | $1.4B | $210.0M | $450.0M | -$1.6B | -$135.0M |
| Diluted EPS | $8.45 | $1.59 | $0.75 | -$15.74 | -$1.63 |
| Total assets | $13.2B | $8.5B | $7.1B | $8.7B | $7.0B |
| Total liabilities | $9.0B | $7.1B | $7.5B | $9.8B | $6.5B |
| Shareholders' equity | $3.4B | $1.3B | $243.0M | -$518.0M | $306.0M |
| Cash and short-term investments | $2.8B | $2.2B | $896.0M | $755.0M | $403.0M |
| Total debt | $5.5B | $6.0B | $6.7B | $8.8B | $5.8B |
| Operating cash flow | $1.0B | $918.0M | $803.0M | -$1.3B | -$2.6B |
| Capital spending | $147.0M | $91.0M | $87.0M | $512.0M | $557.0M |
| Free cash flow | $889.0M | $827.0M | $716.0M | -$1.8B | -$3.2B |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was Carvana's revenue in fiscal year 2025?
$20.32 billion, up 48.6% from $13.67 billion in fiscal year 2024.
How much profit does Carvana make?
Carvana reported net income of $1.41 billion for fiscal year 2025 (6.9% of revenue); operating income was $1.88 billion.
How much cash and debt does Carvana have?
At the end of fiscal year 2025: cash and short-term investments of $2.81 billion and total debt of $5.52 billion.
What is Carvana's free cash flow?
$889.00 million in fiscal year 2025 (operating cash flow of $1.04 billion minus capital spending of $147.00 million).
