Carvana reported a gross margin of 18.76% and a net margin of 6.95% for the quarter ended Jun 2026. These financial ratios cover 42 quarters of results from Mar 2016 through Jun 2026, standardized by Business Quant from the company’s SEC filings.
| Ratios | Mar2016 | Jun2016 | Sep2016 | Dec2016 | Mar2017 | Jun2017 | Sep2017 | Dec2017 | Mar2018 | Jun2018 | Sep2018 | Dec2018 | Mar2019 | Jun2019 | Sep2019 | Dec2019 | Mar2020 | Jun2020 | Sep2020 | Dec2020 | Mar2021 | Jun2021 | Sep2021 | Dec2021 | Mar2022 | Jun2022 | Sep2022 | Dec2022 | Mar2023 | Jun2023 | Sep2023 | Dec2023 | Mar2024 | Jun2024 | Sep2024 | Dec2024 | Mar2025 | Jun2025 | Sep2025 | Dec2025 | Mar2026 | Jun2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||||||||||||||||||||||||||||||||||
| Gross Margin | 15.03% | 13.75% | 8.52% | 10.20% | 10.60% | 6.80% | 13.09% | 16.81% | 17.38% | 16.58% | 19.31% | 20.97% | 22.08% | 21.51% | 21.95% | 21.98% | 20.33% | 18.76% | 19.76% | 18.76% | ||||||||||||||||||||||
| EBT Margin | -1.95% | -4.82% | -14.47% | -11.28% | -15.00% | -51.04% | -11.05% | -3.54% | 27.77% | -8.33% | 1.57% | 1.44% | 4.02% | 4.40% | 8.86% | 6.36% | 4.59% | -32.70% | 6.86% | 7.85% | ||||||||||||||||||||||
| EBIT Margin | -0.66% | -2.77% | -12.27% | -8.37% | -8.77% | -15.47% | -5.07% | 1.42% | 1.73% | -1.57% | 4.38% | 7.60% | 9.22% | 7.33% | 9.31% | 10.56% | 9.78% | 7.57% | 9.03% | 9.22% | ||||||||||||||||||||||
| EBITDA Margin | -0.66% | -2.77% | -12.27% | -8.37% | -8.77% | -15.47% | -5.07% | 1.42% | 1.73% | -1.57% | 4.38% | 7.60% | 9.22% | 7.33% | 9.31% | 10.56% | 9.78% | 7.57% | 9.03% | 9.22% | ||||||||||||||||||||||
| Operating Margin | -0.66% | -2.77% | -12.27% | -8.37% | -8.77% | -15.47% | -5.07% | 1.42% | 1.73% | -1.57% | 4.38% | 7.60% | 9.22% | 7.33% | 9.31% | 10.56% | 9.78% | 7.57% | 9.03% | 9.22% | ||||||||||||||||||||||
| Net Margin | -1.95% | -4.85% | -14.47% | -11.30% | -15.00% | -51.04% | -10.97% | -3.54% | 26.72% | -8.25% | 1.60% | 1.41% | 4.05% | 4.48% | 8.81% | 6.36% | 4.66% | 17.24% | 6.30% | 6.95% | ||||||||||||||||||||||
| FCF Margin | -13.76% | -35.68% | -23.25% | -0.90% | -5.55% | -28.20% | -3.76% | 16.54% | 20.92% | -10.60% | 2.71% | 10.35% | 11.00% | 1.01% | 4.75% | 0.54% | 6.04% | 6.76% | 0.87% | 3.17% | ||||||||||||||||||||||
| Efficiency | ||||||||||||||||||||||||||||||||||||||||||
| Inventory AverageInventory Avg. | 2.13B | 2.72B | 3.23B | 3.08B | 2.72B | 2.23B | 1.68B | 1.39B | 1.19B | 1.12B | 1.16B | 1.19B | 1.26B | 1.46B | 1.56B | 1.76B | 2.17B | 2.36B | 2.54B | 2.96B | ||||||||||||||||||||||
| Assets AverageAssets Avg. | 4.97B | 6.19B | 7.30B | 9.04B | 10.06B | 9.16B | 8.67B | 8.25B | 7.44B | 7.05B | 7.03B | 7.08B | 7.27B | 7.93B | 8.68B | 9.12B | 9.61B | 11.53B | 13.49B | 14.16B | ||||||||||||||||||||||
| Invested CapitalInvested Cap. | 4.37B | 5.94B | 6.30B | 8.80B | 7.78B | 7.26B | 7.13B | 6.50B | 5.73B | 5.89B | 5.70B | 5.82B | 6.00B | 7.01B | 7.41B | 7.82B | 8.15B | 9.32B | 9.79B | 10.37B | ||||||||||||||||||||||
| Asset Utilization RatioAsset Util. | 2.19 | 2.07 | 1.93 | 1.62 | 1.44 | 1.49 | 1.47 | 1.43 | 1.50 | 1.53 | 1.60 | 1.65 | 1.73 | 1.73 | 1.71 | 1.78 | 1.90 | 1.76 | 1.67 | 1.77 | ||||||||||||||||||||||
| Leverage & Solvency | ||||||||||||||||||||||||||||||||||||||||||
| Interest Coverage RatioInterest Cover | -0.48 | -1.89 | -6.70 | -2.80 | -1.94 | -2.87 | -0.83 | 0.27 | 0.31 | -0.23 | 0.77 | 1.50 | 2.15 | 1.76 | 2.83 | 3.57 | 4.42 | 4.33 | 5.87 | 6.73 | ||||||||||||||||||||||
| Debt Ratio | 0.68 | 0.77 | 0.82 | 0.76 | 0.77 | 0.96 | 0.98 | 1.01 | 0.84 | 0.89 | 0.86 | 0.80 | 0.78 | 0.66 | 0.64 | 0.61 | 0.53 | 0.39 | 0.37 | 0.36 | ||||||||||||||||||||||
| Times Interest Earned | -0.48 | -1.89 | -6.70 | -2.80 | -1.94 | -2.87 | -0.83 | 0.27 | 0.31 | -0.23 | 0.77 | 1.50 | 2.15 | 1.76 | 2.83 | 3.57 | 4.42 | 4.33 | 5.87 | 6.73 | ||||||||||||||||||||||
| Dividends & Payouts | ||||||||||||||||||||||||||||||||||||||||||
| Dividend Coverage RatioDiv. Cover | ||||||||||||||||||||||||||||||||||||||||||
| FCF Payout RatioFCF Cover | ||||||||||||||||||||||||||||||||||||||||||
| Dividend YieldDiv. Yield | ||||||||||||||||||||||||||||||||||||||||||
| Payout Ratio | ||||||||||||||||||||||||||||||||||||||||||
| Valuation | ||||||||||||||||||||||||||||||||||||||||||
| Price to EarningsP/E | -766.24 | -220.12 | -40.78 | -9.71 | -7.55 | -0.62 | -6.47 | -46.71 | 11.31 | -52.91 | 362.68 | 554.14 | 243.95 | 271.63 | 119.70 | 235.17 | 311.69 | 95.38 | 170.29 | 141.07 | ||||||||||||||||||||||
| Price to SalesP/S | 14.97 | 10.67 | 5.90 | 1.10 | 1.13 | 0.32 | 0.71 | 1.65 | 3.02 | 4.37 | 5.81 | 7.80 | 9.88 | 12.18 | 10.55 | 14.97 | 14.52 | 16.44 | 10.72 | 9.81 | ||||||||||||||||||||||
| Price to BookP/B | 73.59 | 76.31 | 396.81 | 4.94 | 10.25 | -0.85 | -1.40 | -3.49 | -41.50 | -27.56 | -57.14 | 231.29 | 126.24 | 31.41 | 25.18 | 34.21 | 27.78 | 21.92 | 14.89 | 14.09 | ||||||||||||||||||||||
| Enterprise Value | 52.02B | 39.64B | 20.06B | 3.39B | 3.46B | -0.27B | 0.50B | 3.52B | 7.23B | 9.36B | 16.84B | 25.58B | 34.85B | 41.54B | 43.01B | 70.89B | 80.43B | 90.47B | 67.37B | 70.74B | ||||||||||||||||||||||
| EV to EBIT | -0.00B | -381.20 | -46.77 | -10.44 | -11.64 | 0.60 | -3.76 | 83.78 | 150.54 | -246.35 | 125.70 | 98.77 | 103.41 | 159.79 | 109.17 | 138.73 | 145.70 | 213.38 | 115.95 | 104.03 | ||||||||||||||||||||||
| EV to EBITDA | -0.00B | -381.20 | -46.77 | -10.44 | -11.64 | 0.60 | -3.76 | 83.78 | 150.54 | -246.35 | 125.70 | 98.77 | 103.41 | 159.79 | 109.17 | 138.73 | 145.70 | 213.38 | 115.95 | 104.03 | ||||||||||||||||||||||
| Market Capitalization | 52.10B | 40.06B | 20.63B | 4.26B | 3.83B | 0.90B | 1.85B | 4.90B | 8.38B | 10.58B | 17.77B | 26.60B | 36.10B | 43.19B | 44.65B | 72.43B | 81.98B | 92.14B | 68.97B | 72.37B | ||||||||||||||||||||||
| Price to FCFP/FCF | -108.78 | -29.92 | -25.38 | -121.84 | -20.39 | -1.12 | -18.89 | 9.99 | 14.45 | -41.18 | 214.11 | 75.35 | 89.81 | 0.00B | 222.12 | 0.00B | 240.40 | 243.11 | 0.00B | 309.28 | ||||||||||||||||||||||
| EV to FCF | -108.61 | -29.61 | -24.68 | -96.92 | -18.38 | 0.33 | -5.06 | 7.17 | 12.46 | -36.43 | 202.94 | 72.47 | 86.69 | 0.00B | 213.99 | 0.00B | 235.85 | 238.71 | 0.00B | 302.30 | ||||||||||||||||||||||
| EV to CFO | -183.83 | -33.83 | -33.84 | 32.00 | -35.27 | 0.36 | -7.51 | 6.91 | 12.06 | -39.17 | 166.78 | 72.26 | 86.47 | 692.41 | 185.40 | 0.00B | 233.12 | 210.40 | 629.62 | 297.22 | ||||||||||||||||||||||
| Return Ratios | ||||||||||||||||||||||||||||||||||||||||||
| Return on Sales [ROS]ROS | -0.66% | -2.77% | -12.27% | -8.37% | -8.77% | -15.47% | -5.07% | 1.42% | 1.73% | -1.57% | 4.38% | 7.60% | 9.22% | 7.33% | 9.31% | 10.56% | 9.78% | 7.57% | 9.03% | 9.22% | ||||||||||||||||||||||
| Return on Capital Employed [ROCE]ROCE | -2.65% | -3.15% | -13.32% | -13.20% | -14.11% | -22.69% | -20.49% | -13.61% | -7.96% | -1.45% | 3.23% | 6.76% | 11.33% | 15.03% | 17.04% | 19.49% | 21.30% | 18.79% | 17.64% | 18.45% | ||||||||||||||||||||||
| Return on Invested Capital [ROIC]ROIC | -2.02% | -7.76% | -11.69% | -13.95% | -19.83% | -16.57% | -12.11% | -8.07% | -1.18% | 3.05% | 6.71% | 12.55% | 15.37% | 17.36% | 19.75% | 21.59% | -46.21% | -51.02% | -86.16% | |||||||||||||||||||||||
| Return on Assets [ROA]ROA | -5.21% | -4.64% | -9.74% | -13.21% | -16.25% | -31.67% | -30.92% | -28.46% | -14.76% | 2.13% | 6.90% | 9.02% | 0.62% | 5.10% | 8.39% | 10.83% | 11.48% | 16.57% | 14.40% | 15.16% |