Carvana Co.
Profit after direct costs
Core business profitability
Bottom line profitability
Top line growth rate
Flow of revenue through cost categories to net income
| Item | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | YoY Change |
|---|---|---|---|---|---|---|---|
Total Revenue | 12.81B | 13.60B | 10.77B | 13.67B | 20.32B | 48.6% | |
| Cost of Revenue | (10.99B) | (12.60B) | (9.05B) | (10.96B) | (16.13B) | 47.1% | |
Gross Profit | 1.83B | 1.00B | 1.72B | 2.71B | 4.19B | 54.6% | |
| Operating Expenses | |||||||
| Research & Development | — | — | — | — | — | — | |
| Selling, General & Administrative | (1.93B) | (2.49B) | (1.61B) | (1.71B) | (2.31B) | 35.0% | |
| General & Administrative | (1.45B) | (2.00B) | (1.38B) | (1.48B) | (1.95B) | 31.4% | |
| Selling & Marketing | (479.00M) | (490.00M) | (228.00M) | (229.00M) | (363.00M) | 58.5% | |
| Depreciation & Amortization | (105.00M) | (261.00M) | (352.00M) | (305.00M) | (275.00M) | -9.8% | |
Operating Income (EBIT) | -104.00M | -1.49B | -80.00M | 1.00B | 1.88B | 87.7% | |
| Non-Operating Items | |||||||
| Interest Income | — | — | — | — | — | — | |
| Interest Expense | (176.00M) | (486.00M) | (632.00M) | (651.00M) | (505.00M) | -22.4% | |
| Other Income/Expenses (Net) | -182.00M | -1.40B | 255.00M | -602.00M | -2.77B | 360.3% | |
Income Before Tax | -286.00M | -2.89B | 175.00M | 400.00M | -890.00M | -322.5% | |
| Income Tax Expense | (1.00M) | (1.00M) | (25.00M) | (4.00M) | (2.79B) | 69525.0% | |
Net Income | -135.00M | -1.59B | 450.00M | 210.00M | 1.41B | 570.0% | |
| Per Share Metrics | |||||||
| Earnings Per Share (Basic) | $-0 | $-3 | $1 | $0 | $2 | 493.0% | |
| Weighted Avg Shares Outstanding | 414.02M | 504.14M | 546.62M | 611.72M | 688.17M | 12.5% | |
| Weighted Avg Shares Outstanding (Diluted) | 414.02M | 504.14M | 1.00B | 661.03M | 1.12B | 69.6% | |
EBITDA | -5.00M | -2.15B | 1.16B | 1.36B | -110.00M | -108.1% |
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