Carvana (CVNA) Operating Expenses (2016 - 2026)
Carvana (CVNA) reported Operating Expenses of $704 million for Q2 2026, up 27.8% from $551 million a year earlier and up 2.0% from the prior quarter.
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Analysis
Carvana (CVNA) Operating Expenses (2016 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Carvana's Operating Expenses came in at $2.62 billion, up 27.7% year-over-year; for FY2025, it came in at $2.31 billion, up 23.2% from FY2024.
- Operating Expenses has a five-year compound annual growth rate of 15.4% (FY2020 to FY2025).
- By year, Operating Expenses came in at $1.87 billion in FY2024 (+4.3%), $1.8 billion in FY2023 (-34.4%), $2.74 billion in FY2022 (+34.6%) and $2.03 billion in FY2021 (+80.6%).
- The Q2 2026 figure ranks as the highest quarterly Operating Expenses since Q2 2022.
- Year over year, Operating Expenses has now increased in each of the last nine quarters, with growth averaging 21.2% over the last eight quarters.
- The high point for year-over-year Operating Expenses in five years was Q3 2021 (growth of 103.0%); the low point was Q2 2023 (a decline of 37.3%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $690 million (Q1 2026), $627 million (Q4 2025) and $595 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,829.78 Bn | 2,346.48 Bn | 104.83 Bn | 173.15 Bn |
| 2 | Home Depot | 290.18 Bn | 283.42 Bn | 16.12 Bn | 9.28 Bn |
| 3 | Tjx Companies | 152.80 Bn | 130.34 Bn | 5.07 Bn | 3.09 Bn |
| 4 | Lowes Companies | 104.32 Bn | 97.29 Bn | 8.58 Bn | 4.46 Bn |
| 5 | Ross Stores | 71.10 Bn | 54.02 Bn | 2.12 Bn | 1.02 Bn |
| 6 | O Reilly Automotive | 70.56 Bn | 69.64 Bn | 2.52 Bn | 1.53 Bn |
| 7 | Carvana | 70.07 Bn | 61.67 Bn | 1.38 Bn | 704.00 Mn |
| 8 | Target | 69.82 Bn | 64.41 Bn | 8.94 Bn | 5.73 Bn |
| 9 | Autozone | 48.00 Bn | 46.90 Bn | 2.52 Bn | 1.60 Bn |
| 10 | JD.com | 32.86 Bn | -77.35 Bn | 8.71 Bn | -1.53 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 704.00 Mn |
| Mar 31, 2026 | 690.00 Mn |
| Dec 31, 2025 | 627.00 Mn |
| Sep 30, 2025 | 595.00 Mn |
| Jun 30, 2025 | 551.00 Mn |
| Mar 31, 2025 | 535.00 Mn |
| Dec 31, 2024 | 494.00 Mn |
| Sep 30, 2024 | 469.00 Mn |
| Jun 30, 2024 | 455.00 Mn |
| Mar 31, 2024 | 456.00 Mn |
| Dec 31, 2023 | 439.00 Mn |
| Sep 30, 2023 | 433.00 Mn |
| Jun 30, 2023 | 452.00 Mn |
| Mar 31, 2023 | 472.00 Mn |
| Dec 31, 2022 | 632.00 Mn |
| Sep 30, 2022 | 656.00 Mn |
| Jun 30, 2022 | 721.00 Mn |
| Mar 31, 2022 | 727.00 Mn |
| Dec 31, 2021 | 620.00 Mn |
| Sep 30, 2021 | 546.00 Mn |
API Access
Carvana Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=CVNA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "CVNA", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=CVNA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();