CARVANA CO.CVNAEarnings & Financial Report
Carvana Co. is an online used car retailer based in Tempe, Arizona. Carvana was named to the 2021 Fortune 500 list, one of the youngest companies to be added to the list.
CVNA Q4 2025 Key Financial Metrics
营收
$5.6B
毛利润
$1.1B
营业利润
$424.0M
净利润
$857.0M
毛利率
18.8%
营业利润率
7.6%
净利率
15.3%
同比增长
58.0%
资金流向
CARVANA CO. Q4 2025 Financial Summary
CARVANA CO. reported revenue of $5.6B (up 58.0% YoY) for Q4 2025, with a net profit of $857.0M (up 984.8% YoY) (15.3% margin). Cost of goods sold was $4.6B, operating expenses totaled $627.0M.
Key Financial Metrics
| Total Revenue | $5.6B |
|---|---|
| Net Profit | $857.0M |
| Gross Margin | 18.8% |
| Operating Margin | 7.6% |
| Report Period | Q4 2025 |
Revenue Breakdown
CARVANA CO. Q4 2025 revenue of $5.6B breaks down across 3 segments, led by Used Vehicle Sales at $4.2B (74.2% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Used Vehicle Sales | $4.2B | 74.2% |
| Wholesale Sales And Revenues | $988.0M | 17.6% |
| Other | $459.0M | 8.2% |
CARVANA CO. Revenue by Segment — Quarterly Trend
CARVANA CO. revenue by segment across the last 4 reported quarters, showing how each business line (such as Used Vehicle Sales and Wholesale Sales And Revenues) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Used Vehicle Sales | $4.2B | $4.0B | $3.4B | $3.0B |
| Wholesale Sales And Revenues | $988.0M | — | $1.0B | $863.0M |
| Other | $459.0M | $474.0M | $411.0M | $389.0M |
CARVANA CO. Annual Revenue by Year
CARVANA CO. annual revenue history includes year-by-year totals (for example, 2025 revenue was $20.3B). Click any linked year to see what changed vs the prior 10-K.
CARVANA CO. Quarterly Revenue & Net Profit History
CARVANA CO. quarterly results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $5.6B | +58.0% | $857.0M | 15.3% |
| Q3 2025 | $5.6B | +54.5% | $151.0M | 2.7% |
| Q2 2025 | $4.8B | +41.9% | $183.0M | 3.8% |
| Q1 2025 | $4.2B | +38.3% | $216.0M | 5.1% |
| Q4 2024 | $3.5B | +46.3% | $79.0M | 2.2% |
| Q3 2024 | $3.7B | +31.8% | $85.0M | 2.3% |
| Q2 2024 | $3.4B | +14.9% | $18.0M | 0.5% |
| Q1 2024 | $3.1B | +17.5% | $28.0M | 0.9% |
利润表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 营收 | $3.06B | $3.41B | $3.65B | $3.55B | $4.23B | $4.84B | $5.65B | $5.60B |
| 同比增长 | 17.5% | 14.9% | 31.8% | 46.3% | 38.3% | 41.9% | 54.5% | 58.0% |
资产负债表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 总资产 | $6.98B | $7.17B | $7.37B | $8.48B | $8.88B | $9.37B | $9.85B | $13.20B |
| 总负债 | $7.29B | $7.05B | $7.08B | $7.11B | $7.11B | $7.25B | $6.90B | $9.00B |
| 股东权益 | $289.0M | $526.0M | $611.0M | $1.26B | $1.50B | $1.73B | $2.28B | $3.44B |
现金流量表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 经营性现金流 | $101.0M | $354.0M | $403.0M | $60.0M | $232.0M | $29.0M | $345.0M | $430.0M |