Carvana (CVNA) Gross Margin (2016 - 2026)

Carvana's Gross Margin history runs 11 years deep, the most recent figure standing at 18.76% for Q2 2026.

• In Q2 2026, Gross Margin fell 322.0% year-over-year to 18.76%; the TTM figure through Jun 2026 stood at 19.37% (down 252.0% YoY), while the FY2025 annual figure was 20.63%, down 41.0% from the prior year.
• Gross Margin for Q2 2026 stood at 18.76%, down from 19.76% in the prior quarter.
• The five-year high for Gross Margin was 22.08% in Q3 2024, with the low at 6.8% in Q4 2022.
• The 5-year median for Gross Margin is 18.76% (2026), against an average of 16.97%.
• The sharpest annual moves came in 2022 and 2023: Gross Margin slumped 695 bps in 2022, then surged 978 bps in 2023.
• Carvana's Gross Margin stood at 6.8% in 2022, then surged by 144 bps to 16.58% in 2023, then advanced by 30 bps to 21.51% in 2024, then decreased by 13 bps to 18.76% in 2025, then gained by 0 bps to 18.76% in 2026.
• Business Quant data shows CVNA's Gross Margin at 18.76% in Q2 2026, 19.76% in Q1 2026, and 18.76% in Q4 2025.