CVNA—59

Carvana Co

Auto Vehicles, Parts & Service RetailersVerified

Score breakdown

Profitability+35Sentiment+30Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile38Conclusion95AI synthesis40Observations23

Carvana maintains a capital structure with total liabilities of $9.76 billion and total equity of $3.44 billion, resulting in a debt-to-equity ratio of 1.49. The company holds $2.33 billion in cash and equivalents, but its long-term debt of $5.12 billion suggests a leveraged position. Free cash flow of $2.02 billion indicates strong liquidity, though the risk assessment notes medium liquidity risk due to negative net cash after subtracting total debt [doc:HA-latest]. Profitability metrics show a return on equity (ROE) of 40.89% and a return on assets (ROA) of 10.66%, both exceeding typical thresholds for the retail sector. Gross profit of $4.19 billion and operating income of $1.87 billion reflect efficient cost management and pricing power in its used vehicle sales model [doc:HA-latest]. The company's revenue is concentrated in a single business segment focused on used vehicle sales and financing. Geographic exposure is primarily domestic, with no material international operations disclosed. This concentration increases sensitivity to U.S. economic cycles and consumer demand for used vehicles [doc:HA-latest]. Revenue growth is expected to remain stable, with the current fiscal year showing $20.32 billion in revenue. While no specific next-year forecast is provided, the company's free cash flow and operating cash flow of $2.02 billion and $1.04 billion, respectively, suggest capacity for reinvestment or shareholder returns [doc:HA-latest]. Risk factors include medium liquidity risk and potential dilution, though the latter is currently assessed as low. The company has not disclosed any recent share issuance or dilution events, and no adjustments have been applied to valuation metrics. However, the risk assessment highlights the need to monitor leverage and cash flow sustainability [doc:HA-latest]. Recent filings and transcripts have not revealed any material events that would significantly alter the company's strategic direction or financial outlook. The company continues to operate within its disclosed business model, with no new product or market expansion announced in the latest available data [doc:HA-latest].

Profile

CompanyCarvana Co

TickerCVNA.K

SectorConsumer Cyclicals

BusinessRetailers

Industry groupRetailers

IndustryAuto Vehicles, Parts & Service Retailers

AI analysis

Business. Carvana Co operates an e-commerce platform for buying and selling used cars, generating revenue through vehicle sales and integrated financing services [doc:HA-latest].

Classification. Carvana is classified in the industry "Auto Vehicles, Parts & Service Retailers" under the "Consumer Cyclicals" economic sector, with a confidence level of 0.92 [doc:verified market data].

Key takeaways

Carvana maintains strong profitability with ROE of 40.89% and ROA of 10.66%.
Free cash flow of $2.02 billion supports liquidity and potential shareholder returns.
The company's business is concentrated in a single segment and domestic market.
Debt-to-equity ratio of 1.49 indicates a leveraged capital structure.
Analysts provide a mean price target of $454.92 with a mixed recommendation score of 2.08.
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Financial snapshot

PeriodHA-latest

CurrencyUSD

Revenue$20.32B

Gross profit$4.19B

Operating income$1.86B

Net income$1.41B

R&D—

SG&A—

D&A—

SBC—

Operating cash flow$1.04B

CapEx-$147.0M

Free cash flow$2.02B

Total assets$13.20B

Total liabilities$9.76B

Total equity$3.44B

Cash & equivalents$2.33B

Long-term debt$5.12B

Annual history (last 5)

PeriodRevenueOp IncomeNet IncomeFCF

FY0$20.32B$1.86B$1.41B$2.02B

FY-1$13.67B$978.0M$210.0M$618.0M

FY-2$10.77B$175.0M$450.0M$415.0M

FY-3$13.60B-$2.89B-$1.59B-$3.15B

FY-4$12.81B-$286.0M-$135.0M-$739.0M

PeriodGross %Op %Net %FCF %

FY0————

FY-1————

FY-2————

FY-3————

FY-4————

PeriodAssetsEquityCashDebt

FY0$13.20B$3.44B$2.33B—

FY-1$8.48B$1.26B$1.72B—

FY-2$7.07B$243.0M$530.0M—

FY-3$8.70B-$518.0M$434.0M—

FY-4$7.01B$306.0M$403.0M—

PeriodOCFCapExFCFSBC

FY0$1.04B-$147.0M$2.02B—

FY-1$918.0M-$91.0M$618.0M—

FY-2$803.0M-$87.0M$415.0M—

FY-3-$1.32B-$512.0M-$3.15B—

FY-4-$2.59B-$557.0M-$739.0M—

Quarterly history (last 4)

PeriodRevenueOp IncomeNet IncomeFCF

FQ0$6.43B$581.0M$250.0M$423.0M

FQ-1$5.60B$424.0M$857.0M$969.0M

FQ-2$5.65B$538.0M$151.0M$290.0M

FQ-3$4.84B$511.0M$183.0M$345.0M

FQ-4$4.23B$392.0M$216.0M$419.0M

FQ-5$3.55B$254.0M$79.0M$209.0M

FQ-6$3.65B$333.0M$85.0M$194.0M

FQ-7$3.41B$257.0M$18.0M$102.0M

PeriodGross %Op %Net %FCF %

FQ0————

FQ-1————

FQ-2————

FQ-3————

FQ-4————

FQ-5————

FQ-6————

FQ-7————

PeriodAssetsEquityCashDebt

FQ0$13.77B$3.72B$2.41B—

FQ-1$13.20B$3.44B$2.33B—

FQ-2$9.85B$2.28B$2.14B—

FQ-3$9.37B$1.73B$1.86B—

FQ-4$8.88B$1.50B$1.86B—

FQ-5$8.48B$1.26B$1.72B—

FQ-6$7.37B$611.0M$871.0M—

FQ-7$7.17B$526.0M$542.0M—

PeriodOCFCapExFCFSBC

FQ0$107.0M-$51.0M$423.0M—

FQ-1$1.04B-$147.0M$969.0M—

FQ-2$606.0M-$96.0M$290.0M—

FQ-3$261.0M-$58.0M$345.0M—

FQ-4$232.0M-$27.0M$419.0M—

FQ-5$918.0M-$91.0M$209.0M—

FQ-6$858.0M-$67.0M$194.0M—

FQ-7$455.0M-$40.0M$102.0M—

Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book$3.44B

Net cash-$2.79B

Current ratio—

Debt/Equity1.5

ROA10.7%

ROE40.9%

Cash conversion74.0%

CapEx/Revenue-0.7%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Retailers · cohort 2 companies

MetricCVNAActivity

Op margin9.2%20.7% medp25 18.7% · p75 22.8%bottom quartile

Net margin6.9%15.6% medp25 13.4% · p75 17.7%bottom quartile

Gross margin20.6%31.0% medp25 19.6% · p75 40.5%below median

R&D / revenue—0.4% medp25 0.4% · p75 0.4%

CapEx / revenue-0.7%4.6% medp25 3.2% · p75 5.9%bottom quartile

Debt / equity149.0%39.3% medp25 19.7% · p75 97.3%top quartile

Observations

IR observations

Mean price target454.92 USD

Median price target462.50 USD

High price target600.00 USD

Low price target323.33 USD

Mean recommendation2.08 (1=strong buy, 5=strong sell)

Strong-buy count8.00

Buy count9.00

Hold count8.00

Sell count1.00

Strong-sell count0.00

Mean EPS estimate7.20 USD

Last actual EPS3.22 USD

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-01 04:00 UTC#effaca76

Source: analysis-pipeline (hybrid)Generated: 2026-05-01 04:01 UTCJob: 1ad93aca