The Filings Report

Carvana Co.

CVNANYSECIK 1690820Consumer Cyclical / Auto Parts & Dealersfiscal year ends December43 quarters since 2016

Revenue, Q3 FY2026
$8.0B
+42.4% on Q3 FY2025
Net income
$289M
+91.4% on Q3 FY2025
Free cash flow
$491M
+59.9% on Q3 FY2025
Diluted EPS
—
not filed for a derived quarter
Revenue, TTM
$27.5B
trailing four quarters
Net margin, TTM
6.2%
net income $1.7B
Free cash flow, TTM
$1.1B
$1.3B less $217M capex
Cash and equivalents
$3.0B
long-term debt $4.9B, Sep 30, 2026
Shares, 12-month change
—
— shares, Sep 30, 2026
Buybacks, TTM
—
no yield
Dividends, TTM
—
no yield
Market value
—
at the close, buybacks

Latest quarter Q3 FY2026, filed October 28, 2026. Trailing figures sum the latest four quarters. Market values at the latest close, from a market data vendor.

In Q3 FY2026, the quarter ended September 30, 2026, Carvana Co. reported revenue of $8.0B, +42.4% on Q3 FY2025, and net income of $289M (+91.4%). Operating margin was 8.9%. Free cash flow, operating cash flow less capital expenditures, was $491M ($555M less $64M).

The last 16 quarters

Q4 FY2022 to Q3 FY2026, through the filing of October 28, 2026.

Revenue and net incomeRevenueNet income
−$3B$0$3B$5B$8B$10BQ4'22, Revenue: $2.8BQ4'22, Net income: −$806MQ4'22Q1'23, Revenue: $2.6BQ1'23, Net income: −$160MQ1'23Q2'23, Revenue: $3.0BQ2'23, Net income: −$58MQ2'23Q3'23, Revenue: $2.8BQ3'23, Net income: $782MQ3'23Q4'23, Revenue: $2.4BQ4'23, Net income: −$114MQ4'23Q1'24, Revenue: $3.1BQ1'24, Net income: $28MQ1'24Q2'24, Revenue: $3.4BQ2'24, Net income: $18MQ2'24Q3'24, Revenue: $3.7BQ3'24, Net income: $85MQ3'24Q4'24, Revenue: $3.5BQ4'24, Net income: $79MQ4'24Q1'25, Revenue: $4.2BQ1'25, Net income: $216MQ1'25Q2'25, Revenue: $4.8BQ2'25, Net income: $183MQ2'25Q3'25, Revenue: $5.6BQ3'25, Net income: $151MQ3'25Q4'25, Revenue: $5.6BQ4'25, Net income: $857MQ4'25Q1'26, Revenue: $6.4BQ1'26, Net income: $250MQ1'26Q2'26, Revenue: $7.4BQ2'26, Net income: $310MQ2'26Q3'26, Revenue: $8.0BQ3'26, Net income: $289MQ3'26−$3B$0$3B$5B$8B$10BQ4'22, Revenue: $2.8BQ4'22, Net income: −$806MQ1'23, Revenue: $2.6BQ1'23, Net income: −$160MQ1'23Q2'23, Revenue: $3.0BQ2'23, Net income: −$58MQ3'23, Revenue: $2.8BQ3'23, Net income: $782MQ3'23Q4'23, Revenue: $2.4BQ4'23, Net income: −$114MQ1'24, Revenue: $3.1BQ1'24, Net income: $28MQ1'24Q2'24, Revenue: $3.4BQ2'24, Net income: $18MQ3'24, Revenue: $3.7BQ3'24, Net income: $85MQ3'24Q4'24, Revenue: $3.5BQ4'24, Net income: $79MQ1'25, Revenue: $4.2BQ1'25, Net income: $216MQ1'25Q2'25, Revenue: $4.8BQ2'25, Net income: $183MQ3'25, Revenue: $5.6BQ3'25, Net income: $151MQ3'25Q4'25, Revenue: $5.6BQ4'25, Net income: $857MQ1'26, Revenue: $6.4BQ1'26, Net income: $250MQ1'26Q2'26, Revenue: $7.4BQ2'26, Net income: $310MQ3'26, Revenue: $8.0BQ3'26, Net income: $289MQ3'26

Net income losses drawn in red.

Free cash flow
−$1.0B−$500M$0$500M$1.0BQ4'22, Free cash flow: −$800MQ4'22Q1'23, Free cash flow: −$98MQ1'23Q2'23, Free cash flow: $491MQ2'23Q3'23, Free cash flow: $580MQ3'23Q4'23, Free cash flow: −$257MQ4'23Q1'24, Free cash flow: $83MQ1'24Q2'24, Free cash flow: $332MQ2'24Q3'24, Free cash flow: $376MQ3'24Q4'24, Free cash flow: $36MQ4'24Q1'25, Free cash flow: $205MQ1'25Q2'25, Free cash flow: −$2MQ2'25Q3'25, Free cash flow: $307MQ3'25Q4'25, Free cash flow: $379MQ4'25Q1'26, Free cash flow: $56MQ1'26Q2'26, Free cash flow: $187MQ2'26Q3'26, Free cash flow: $491MQ3'26−$1.0B−$500M$0$500M$1.0BQ4'22, Free cash flow: −$800MQ1'23, Free cash flow: −$98MQ1'23Q2'23, Free cash flow: $491MQ3'23, Free cash flow: $580MQ3'23Q4'23, Free cash flow: −$257MQ1'24, Free cash flow: $83MQ1'24Q2'24, Free cash flow: $332MQ3'24, Free cash flow: $376MQ3'24Q4'24, Free cash flow: $36MQ1'25, Free cash flow: $205MQ1'25Q2'25, Free cash flow: −$2MQ3'25, Free cash flow: $307MQ3'25Q4'25, Free cash flow: $379MQ1'26, Free cash flow: $56MQ1'26Q2'26, Free cash flow: $187MQ3'26, Free cash flow: $491MQ3'26

Operating cash flow less capital expenditures; negative quarters in red.

Cash and equivalents against long-term debtCash and equivalentsLong-term debt
$0$2B$4B$6B$8BQ4'22, Cash and equivalents: $434MQ4'22, Long-term debt: $6.6BQ4'22Q1'23, Cash and equivalents: $488MQ1'23, Long-term debt: $6.6BQ1'23Q2'23, Cash and equivalents: $541MQ2'23, Long-term debt: $6.5BQ2'23Q3'23, Cash and equivalents: $544MQ3'23, Long-term debt: $5.3BQ3'23Q4'23, Cash and equivalents: $530MQ4'23, Long-term debt: $5.4BQ4'23Q1'24, Cash and equivalents: $252MQ1'24, Long-term debt: $5.5BQ1'24Q2'24, Cash and equivalents: $542MQ2'24, Long-term debt: $5.4BQ2'24Q3'24, Cash and equivalents: $871MQ3'24, Long-term debt: $5.4BQ3'24Q4'24, Cash and equivalents: $1.7BQ4'24, Long-term debt: $5.3BQ4'24Q1'25, Cash and equivalents: $1.9BQ1'25, Long-term debt: $5.3BQ1'25Q2'25, Cash and equivalents: $1.9BQ2'25, Long-term debt: $5.3BQ2'25Q3'25, Cash and equivalents: $2.1BQ3'25, Long-term debt: $4.8BQ3'25Q4'25, Cash and equivalents: $2.3BQ4'25, Long-term debt: $4.8BQ4'25Q1'26, Cash and equivalents: $2.4BQ1'26, Long-term debt: $4.8BQ1'26Q2'26, Cash and equivalents: $2.6BQ2'26, Long-term debt: $4.9BQ2'26Q3'26, Cash and equivalents: $3.0BQ3'26, Long-term debt: $4.9BQ3'26$0$2B$4B$6B$8BQ4'22, Cash and equivalents: $434MQ4'22, Long-term debt: $6.6BQ1'23, Cash and equivalents: $488MQ1'23, Long-term debt: $6.6BQ1'23Q2'23, Cash and equivalents: $541MQ2'23, Long-term debt: $6.5BQ3'23, Cash and equivalents: $544MQ3'23, Long-term debt: $5.3BQ3'23Q4'23, Cash and equivalents: $530MQ4'23, Long-term debt: $5.4BQ1'24, Cash and equivalents: $252MQ1'24, Long-term debt: $5.5BQ1'24Q2'24, Cash and equivalents: $542MQ2'24, Long-term debt: $5.4BQ3'24, Cash and equivalents: $871MQ3'24, Long-term debt: $5.4BQ3'24Q4'24, Cash and equivalents: $1.7BQ4'24, Long-term debt: $5.3BQ1'25, Cash and equivalents: $1.9BQ1'25, Long-term debt: $5.3BQ1'25Q2'25, Cash and equivalents: $1.9BQ2'25, Long-term debt: $5.3BQ3'25, Cash and equivalents: $2.1BQ3'25, Long-term debt: $4.8BQ3'25Q4'25, Cash and equivalents: $2.3BQ4'25, Long-term debt: $4.8BQ1'26, Cash and equivalents: $2.4BQ1'26, Long-term debt: $4.8BQ1'26Q2'26, Cash and equivalents: $2.6BQ2'26, Long-term debt: $4.9BQ3'26, Cash and equivalents: $3.0BQ3'26, Long-term debt: $4.9BQ3'26

Positions at each quarter end, as filed; short-term investments are not included.

Income statement

Last eight quarters, newest first, through Q3 FY2026 filed October 28, 2026.

Carvana Co. income statement, quarterly
Millions of dollarsQ3 FY2026ended Sep 30, 2026filed Oct 28, 2026Q2 FY2026ended Jun 30, 2026filed Jul 29, 2026Q1 FY2026ended Mar 31, 2026filed Apr 29, 2026Q4 FY2025ended Dec 31, 2025filed Feb 18, 2026Q3 FY2025ended Sep 30, 2025filed Oct 29, 2025Q2 FY2025ended Jun 30, 2025filed Jul 30, 2025Q1 FY2025ended Mar 31, 2025filed May 7, 2025Q4 FY2024ended Dec 31, 2024filed Feb 19, 2025YoYQ3 FY2026vs Q3 FY2025
Revenue8,0407,3766,4325,6035,6474,8404,2323,547+42.4%
Cost of revenue6,5195,9925,1614,5524,4993,7763,3032,784+44.9%
Gross profit1,5211,3841,2711,0511,1481,064929763+32.5%
Research and development—————————
Selling, general and administrative805704690627595551535494+35.3%
Operating income714680581424552511394260+29.3%
Other income (expense)(11)0(41)(2,158)(154)(60)12250+92.9%
Pretax income—————————
Income tax696636(2,783)(4)02(3)+1825.0%
Net income28931025085715118321679+91.4%
Diluted EPS ($)—————————
Diluted shares (millions)740740——731716———

Fourth quarters are the fiscal year less the first nine months when the filer reports no discrete fourth quarter, and are marked. Diluted EPS is never derived, so a derived quarter shows none. Italic figures are derived.

Balance sheet

Last eight quarters, newest first, through Q3 FY2026 filed October 28, 2026.

Carvana Co. balance sheet, quarterly
Millions of dollarsQ3 FY2026ended Sep 30, 2026filed Oct 28, 2026Q2 FY2026ended Jun 30, 2026filed Jul 29, 2026Q1 FY2026ended Mar 31, 2026filed Apr 29, 2026Q4 FY2025ended Dec 31, 2025filed Feb 18, 2026Q3 FY2025ended Sep 30, 2025filed Oct 29, 2025Q2 FY2025ended Jun 30, 2025filed Jul 30, 2025Q1 FY2025ended Mar 31, 2025filed May 7, 2025Q4 FY2024ended Dec 31, 2024filed Feb 19, 2025YoYQ3 FY2026vs Q3 FY2025
Cash and equivalents3,0492,6302,4102,3272,1421,8571,8581,716+42.3%
Short-term investments—————————
Total current assets8,6288,0067,1976,5496,2655,6735,1374,869+37.7%
Total assets15,19514,55213,77113,2019,8539,3668,8788,484+54.2%
Total current liabilities2,1302,0391,7611,5191,5481,4171,3471,338+37.6%
Long-term debt4,8744,8544,8464,8304,8105,3235,2695,256+1.3%
Total liabilities9,5429,4149,1398,9986,9027,2497,1057,109+38.2%
Stockholders’ equity4,3524,0283,7203,4412,2791,7301,5041,260+91.0%
Shares outstanding (millions)—————————

Positions at each period end. Nothing on this statement is derived. Long-term debt is the filed noncurrent line only; no total-debt composite is constructed across filers. Italic figures are derived.

Cash flow statement

Last eight quarters, newest first, through Q3 FY2026 filed October 28, 2026.

Carvana Co. cash flow statement, quarterly
Millions of dollarsQ3 FY2026ended Sep 30, 2026filed Oct 28, 2026Q2 FY2026ended Jun 30, 2026filed Jul 29, 2026Q1 FY2026ended Mar 31, 2026filed Apr 29, 2026Q4 FY2025ended Dec 31, 2025filed Feb 18, 2026Q3 FY2025ended Sep 30, 2025filed Oct 29, 2025Q2 FY2025ended Jun 30, 2025filed Jul 30, 2025Q1 FY2025ended Mar 31, 2025filed May 7, 2025Q4 FY2024ended Dec 31, 2024filed Feb 19, 2025YoYQ3 FY2026vs Q3 FY2025
Operating cash flow5552381074303452923260+60.9%
Capital expenditures6451515138312724+68.4%
Free cash flow (CFO − capex)49118756379307(2)20536+59.9%
Depreciation and amortization—————————
Share repurchases—————————
Dividends paid—————————

10-Qs file cash flows as year-to-date totals, so quarterly figures are differenced from consecutive filings and marked. Free cash flow is operating cash flow less capital expenditures, computed from the two filed lines. Italic figures are derived.

Annual statements

Every fiscal year filed, newest first, through FY2025 filed February 18, 2026.

Income statement

Carvana Co. income statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 18, 2026FY2024ended Dec 31, 2024filed Feb 19, 2025FY2023ended Dec 31, 2023filed Feb 22, 2024FY2022ended Dec 31, 2022filed Feb 23, 2023FY2021ended Dec 31, 2021filed Feb 24, 2022FY2020ended Dec 31, 2020filed Feb 25, 2021FY2019ended Dec 31, 2019filed Feb 26, 2020FY2018ended Dec 31, 2018filed Feb 27, 2019FY2017ended Dec 31, 2017filed Mar 6, 2018FY2016ended Dec 31, 2016filed Aug 8, 2017FY2015ended Dec 31, 2015filed Aug 8, 2017
Revenue20,32213,67310,77113,60412,8145,5873,9401,955859365130
Cost of revenue16,13010,7979,04712,35810,8854,7933,4331,759791——
Gross profit4,1922,8761,7241,2461,92979450719768191
Research and development———————————
Selling, general and administrative2,3081,8741,7962,7362,0331,12678742522310937
Operating income1,881990(80)(2,351)———————
Other income (expense)(2,250)739(56)(6)1(4)(1)(1)00
Pretax income———————————
Income tax(2,785)(4)2511000000
Net income1,407210450(1,587)(135)(171)(115)(55)(63)(93)(37)
Diluted EPS ($)8.451.590.75(15.74)(1.63)(2.63)(2.45)————
Diluted shares (millions)224132201101836547————

Balance sheet

Carvana Co. balance sheet, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 18, 2026FY2024ended Dec 31, 2024filed Feb 19, 2025FY2023ended Dec 31, 2023filed Feb 22, 2024FY2022ended Dec 31, 2022filed Feb 23, 2023FY2021ended Dec 31, 2021filed Feb 24, 2022FY2020ended Dec 31, 2020filed Feb 25, 2021FY2019ended Dec 31, 2019filed Feb 26, 2020FY2018ended Dec 31, 2018filed Feb 27, 2019FY2017ended Dec 31, 2017filed Mar 6, 2018FY2016ended Dec 31, 2016filed Aug 8, 2017FY2015ended Dec 31, 2015filed Aug 8, 2017
Cash and equivalents2,3271,71653043440330176791733943
Short-term investments———————————
Total current assets6,5494,8693,3214,5944,8921,9231,359663490275—
Total assets13,2018,4847,0718,6987,0153,0352,058991641336—
Total current liabilities1,5191,3381,5362,5922,890467865330306196—
Long-term debt4,8305,2565,4166,5743,2081,617883425—4—
Total liabilities8,9987,1097,4559,7516,4902,2331,866764362201—
Stockholders’ equity3,4411,260243(518)3063889880126(116)—
Shares outstanding (millions)———————————

Cash flow statement

Carvana Co. cash flow statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 18, 2026FY2024ended Dec 31, 2024filed Feb 19, 2025FY2023ended Dec 31, 2023filed Feb 22, 2024FY2022ended Dec 31, 2022filed Feb 23, 2023FY2021ended Dec 31, 2021filed Feb 24, 2022FY2020ended Dec 31, 2020filed Feb 25, 2021FY2019ended Dec 31, 2019filed Feb 26, 2020FY2018ended Dec 31, 2018filed Feb 27, 2019FY2017ended Dec 31, 2017filed Mar 6, 2018FY2016ended Dec 31, 2016filed Aug 8, 2017FY2015ended Dec 31, 2015filed Aug 8, 2017
Operating cash flow1,036918803(1,324)(2,594)(608)(757)(414)(200)(240)(54)
Capital expenditures1479187512557360231144784014
Free cash flow (CFO − capex)889827716(1,836)(3,151)(968)(988)(558)(278)(280)(67)
Depreciation and amortization———————————
Share repurchases———————————
Dividends paid———————50034

Insider activity

Form 4 filings by officers, directors and 10% owners, November 1, 2024 to November 1, 2026. Only open-market purchases and sales count as buys and sells; awards, exercises, tax withholding and gifts are listed in grey and never counted.

Bought, three months
$0
0 purchases by 0 insiders; officers and directors $0
Sold, three months
$25M
33 sales by 6 insiders; officers and directors $25M
Bought, twelve months
$3M
5 purchases by 1 insider; officers and directors $3M
Sold, twelve months
$264M
371 sales by 11 insiders; officers and directors $264M

The last 25 transactions

TradedInsiderRoleTransactionSharesPriceValueHeld afterFiled
Oct 12, 2026Taira ThomasPresident, Special Projectsopen-market sale10b5-15,597$65.00$364K357,442Oct 13, 2026
Oct 1, 2026Keeton Ryan S.Chief Brand Officertax withholding2,883$63.04$182K426,627Oct 5, 2026
Oct 1, 2026Garcia Ernest C. IIIChief Executive Officer, Director, 10% ownertax withholding7,067$63.04$446K5MOct 5, 2026
Oct 1, 2026Palmer Stephen RVice President of Accountingtax withholding3,021$63.04$190K125,865Oct 5, 2026
Oct 1, 2026Palmer Stephen RVice President of Accountingopen-market sale10b5-1920$59.48$55K124,945Oct 5, 2026
Oct 1, 2026Palmer Stephen RVice President of Accountingopen-market sale10b5-1840$60.75$51K124,105Oct 5, 2026
Oct 1, 2026Palmer Stephen RVice President of Accountingopen-market sale10b5-1920$61.64$57K123,185Oct 5, 2026
Oct 1, 2026Palmer Stephen RVice President of Accountingopen-market sale10b5-12,320$62.82$146K120,865Oct 5, 2026
Oct 1, 2026Huston Benjamin E.Chief Operating Officertax withholding7,016$63.04$442K471,677Oct 5, 2026
Oct 1, 2026Breaux Paul W.See Remarkstax withholding4,453$63.04$281K422,030Oct 5, 2026
Oct 1, 2026Jenkins Mark W.Chief Financial Officertax withholding7,016$63.04$442K1MOct 5, 2026
Oct 1, 2026Jenkins Mark W.Chief Financial Officeroption exercise50,000$2.01$101K1MOct 5, 2026
Oct 1, 2026Jenkins Mark W.Chief Financial Officeroption exercise10,000$8.41$84K1MOct 5, 2026
Oct 1, 2026Jenkins Mark W.Chief Financial Officeroption exercise3,750$10.39$39K1MOct 5, 2026
Oct 1, 2026Jenkins Mark W.Chief Financial Officeropen-market sale10b5-110,440$59.44$621K1MOct 5, 2026
Oct 1, 2026Jenkins Mark W.Chief Financial Officeropen-market sale10b5-19,362$60.60$567K1MOct 5, 2026
Oct 1, 2026Jenkins Mark W.Chief Financial Officeropen-market sale10b5-113,318$61.47$819K1MOct 5, 2026
Oct 1, 2026Jenkins Mark W.Chief Financial Officeropen-market sale10b5-124,761$62.73$2M1MOct 5, 2026
Oct 1, 2026Jenkins Mark W.Chief Financial Officeropen-market sale10b5-15,869$63.04$370K1MOct 5, 2026
Oct 1, 2026Gill Daniel J.Chief Product Officertax withholding7,707$63.04$486K1MOct 5, 2026
Oct 1, 2026Taira ThomasPresident, Special Projectstax withholding3,948$63.04$249K363,039Oct 5, 2026
Sep 14, 2026Taira ThomasPresident, Special Projectsopen-market sale10b5-12,680$70.05$188K381,096Sep 16, 2026
Sep 14, 2026Taira ThomasPresident, Special Projectsopen-market sale10b5-114,109$70.68$997K366,987Sep 16, 2026
Sep 1, 2026Huston Benjamin E.Chief Operating Officertax withholding7,016$72.18$506K528,693Sep 3, 2026
Sep 1, 2026Huston Benjamin E.Chief Operating Officeropen-market sale10b5-129,474$71.36$2M499,219Sep 3, 2026

Full insider history for Carvana Co., or insider activity across all companies. A record of filings, not a recommendation.

Tracked funds holding it

2 of the tracked managers held CVNA in their latest 13F filing, through August 14, 2026. Weight is the share of the fund’s reported portfolio. How the funds have traded CVNA by quarter.

FundManagerQuarterValueSharesWeightMove
Lone Pine CapitalSteve MandelQ2 2026$692M11M4.23%added +499.6%
Duquesne Family OfficeStanley DruckenmillerQ2 2026$10M151,0000.19%new

Sources

Fiscal year ends in month 12; periods are labeled with the issuer's own fiscal calendar. Values are as most recently filed (restatements apply; per-share values are on current split basis per the connector's split table, flagged in adjusted). Flow items flagged in `derived` were computed (Q4 = FY − nine months; quarterly cash flow differenced from year-to-date filings) rather than read from a filing. `reconciliation.repaired` lists periods where a full-year figure was filed in a quarter slot: that row was dropped and the quarter rebuilt from the annual figure. `reconciliation.quarantined` lists periods where four filed quarters do not sum to the filed year — those quarterly values are withheld, so a blank there is a withholding rather than an absence of reporting.

Filer
CARVANA CO., CIK 1690820 on EDGAR
Extract generated
October 29, 2026
Withheld
none
Repaired
none
XBRL concepts behind each line

Income statement

Revenue: RevenueFromContractWithCustomerExcludingAssessedTax, SalesRevenueNet
Cost of revenue: CostOfGoodsAndServicesSold
Gross profit: GrossProfit
Research and development: not filed
Selling, general and administrative: SellingGeneralAndAdministrativeExpense
Operating income: OperatingIncomeLoss
Other income (expense): OtherNonoperatingIncomeExpense
Pretax income: not filed
Income tax: IncomeTaxExpenseBenefit
Net income: NetIncomeLoss
Diluted EPS ($): EarningsPerShareDiluted
Diluted shares (millions): WeightedAverageNumberOfDilutedSharesOutstanding

Balance sheet

Cash and equivalents: CashAndCashEquivalentsAtCarryingValue
Short-term investments: not filed
Total current assets: AssetsCurrent
Total assets: Assets
Total current liabilities: LiabilitiesCurrent
Long-term debt: LongTermDebtNoncurrent
Total liabilities: Liabilities
Stockholders’ equity: StockholdersEquity
Shares outstanding (millions): not filed

Cash flow statement

Operating cash flow: NetCashProvidedByUsedInOperatingActivities
Capital expenditures: PaymentsToAcquirePropertyPlantAndEquipment
Free cash flow (CFO − capex): not filed
Depreciation and amortization: not filed
Share repurchases: not filed
Dividends paid: PaymentsOfDividends

The data

The statements on this page as files, generated October 29, 2026.

JSON file
/data/financials/CVNA.json