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CVNA

Carvana

Ticker CVNATEMPE, AZFiscal year ends DecemberBook value per share $5.44Diluted shares 740.2M

Carvana Co. (NYSE: CVNA) operates an online platform for buying and selling used cars, serving retail consumers through vehicle search, purchase, financing, trade-in and delivery services. It acquires vehicles from customers, auctions and wholesale suppliers, then inspects and reconditions inventory for online sale;… From the company’s description.

In fiscal 2025, Carvana reported revenue of $20.32B, up 48.6% from fiscal 2024, and net income of $1.90B. Its operating margin was 9.3%, and operations generated $1.04B in cash. Over the twelve months to Jun 30, 2026, revenue was $25.06B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$20.32BFY2025
+48.6% year over year
Last 12 mo $25.06B
9.26%FY2025
+2 percentage points
Last 12 mo 8.93%
$1.90BFY2025
+369.1% year over year
Last 12 mo $2.13B
40.89%FY2025
+24.2 percentage points
Last 12 mo 38.93%
Cash & financing
$1.04BFY2025
+12.9% year over year
Last 12 mo $1.12B
$889.00MFY2025
+7.5% year over year
Last 12 mo $929.00M
1.49FY2025
Was 4.47× a year earlier
Last 12 mo 1.30
224.3MFY2025
+69.6% year over year
Last 12 mo 740.2M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Carvana does

In the company’s own words

Carvana Co. (NYSE: CVNA) operates an online platform for buying and selling used cars, serving retail consumers through vehicle search, purchase, financing, trade-in and delivery services. It acquires vehicles from customers, auctions and wholesale suppliers, then inspects and reconditions inventory for online sale; vehicles that do not meet its standards are sold wholesale. Its platform also offers vehicle service contracts, GAP coverage and, through a partner, auto insurance. Carvana has a nationally pooled online inventory of more than 75,000 vehicles and provides home delivery or pickup at customer-facing locations, including its car vending machines. Its vertically integrated operations include proprietary shopping, financing, reconditioning and logistics technology. The company reported $18.1 billion in revenue for fiscal 2025 and had more than 23,100 full- and part-time employees as of December 31, 2025. Its infrastructure can support reconditioning approximately 1.5 million vehicles annually at full utilization. Its website is https://www.carvana.com.

Company details
Sector
Consumer Discretionary
Industry (SIC)
Retail
Headquarters
TEMPE, AZ
Fiscal year end
December
CIK
1690820
SIC
5500

Financial performance, year by year

Fiscal 2017–2025 · USD
$-5.69B$2.70B$11.08B$19.47B$27.85B201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Carvana — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

692
funds hold it
3 of 35
superinvestors hold it
$24.70B
held by funds, at market
45.0%
of shares held by funds
6
bond issues held by funds

Superinvestors in Carvana · what they did last quarter

Stephen MandelINCREASED +499.6%
Lone Pine Capital
4.2%of 13F portfolio
Stanley DruckenmillerNEW
Duquesne Family Office
0.2%of 13F portfolio
Polen CapitalINCREASED +410.4%
Polen Capital Management
<0.1%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Carvana’s weight in each

0.60%of fund net assets
T. Rowe Price Blue Chip Growth Fund, Inc.
TRBCX · T. ROWE PRICE BLUE CHIP GROWTH FUND, INC.
3.20%of fund net assets
1.89%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.06%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.07%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Carvana’s bonds, as funds hold them

Funds report holding 6 issues of Carvana’s debt, $2.10B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 8.96%, maturing 2027 to 2031.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Carvana and its peers compare on margins and cash generation over ten years?”
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