Carvana (CVNA) Gross Margin (2016 - 2026)
Carvana (CVNA) posted quarterly Gross Margin of 18.76% for Q2 2026, down 322.0% year-over-year from 8.45% in Q2 2025, and down 5.05% quarter-over-quarter from 19.76% in Q1 2026.
Carvana (CVNA) Gross Margin (2016 - 2026) Analysis & Trends
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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Uxin | 78.09 Bn | 78.08 Bn | - | - |
| 2 | Carvana | 51.78 Bn | 49.04 Bn | 1.38 Bn | 18.76% |
| 3 | Penske Automotive | 14.33 Bn | 14.26 Bn | 1.36 Bn | 15.94% |
| 4 | Lithia Motors | 8.63 Bn | 8.27 Bn | 1.50 Bn | 15.29% |
| 5 | Carmax | 8.33 Bn | 7.73 Bn | 854.41 Mn | 10.66% |
| 6 | Autonation | 7.04 Bn | 6.99 Bn | 1.23 Bn | 17.77% |
| 7 | Autozi Internet Technology (Global) | 6.44 Bn | 6.25 Bn | - | - |
| 8 | Rush Enterprises Inc \Tx\ | 6.32 Bn | 6.06 Bn | 361.67 Mn | 19.04% |
| 9 | Valvoline | 4.27 Bn | 4.18 Bn | 214.90 Mn | 39.46% |
| 10 | Openlane | 4.27 Bn | 4.08 Bn | 248.20 Mn | 44.75% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 18.76% |
| Mar 31, 2026 | 19.76% |
| Dec 31, 2025 | 18.76% |
| Sep 30, 2025 | 20.33% |
| Jun 30, 2025 | 21.98% |
| Mar 31, 2025 | 21.95% |
| Dec 31, 2024 | 21.51% |
| Sep 30, 2024 | 22.08% |
| Jun 30, 2024 | 20.97% |
| Mar 31, 2024 | 19.31% |
| Dec 31, 2023 | 16.58% |
| Sep 30, 2023 | 17.38% |
| Jun 30, 2023 | 16.81% |
| Mar 31, 2023 | 13.09% |
| Dec 31, 2022 | 6.80% |
| Sep 30, 2022 | 10.60% |
| Jun 30, 2022 | 10.20% |
| Mar 31, 2022 | 8.52% |
| Dec 31, 2021 | 13.75% |
| Sep 30, 2021 | 15.03% |