Carvana Co. Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	20,322	13,673	10,771	13,604	12,814
Revenue Growth (YoY)	48.63%	26.94%	-20.82%	6.17%	129.35%
Cost of Revenue	16,130	10,797	9,047	12,351	10,885
Gross Profit	4,192	2,876	1,724	1,253	1,929
Selling, General & Admin	2,144	1,709	1,606	2,486	1,928
Other Operating Expenses	-	-	-	14	-
Operating Expenses	2,308	1,874	1,789	2,700	2,033
Operating Income	1,884	1,002	-65	-1,447	-104
Interest Expense	-505	-651	-632	-486	-176
Other Non Operating Income (Expenses)	-2,262	50	9	-42	-5
EBT Excluding Unusual Items	-883	401	-688	-1,975	-285
Merger & Restructuring Charges	-	-	-7	-57	-
Impairment of Goodwill	-	-	-	-847	-
Gain (Loss) on Sale of Assets	-3	-12	-8	-14	-1
Other Unusual Items	-4	11	878	-	-
Pretax Income	-890	400	175	-2,893	-286
Income Tax Expense	-2,785	-4	25	1	1
Earnings From Continuing Operations	1,895	404	150	-2,894	-287
Minority Interest in Earnings	-488	-194	300	1,307	152
Net Income	1,407	210	450	-1,587	-135
Net Income to Common	1,407	210	450	-1,587	-135
Net Income Growth	570.00%	-53.33%	-	-	-
Shares Outstanding (Basic)	138	122	109	101	83
Shares Outstanding (Diluted)	224	132	201	101	83
Shares Change (YoY)	69.64%	-34.09%	98.93%	21.77%	27.43%
EPS (Basic)	10.22	1.72	4.12	-15.74	-1.63
EPS (Diluted)	8.45	1.59	0.75	-15.74	-1.63
EPS Growth	431.41%	112.61%	-	-	-
Free Cash Flow	889	827	716	-1,836	-3,151
Free Cash Flow Per Share	3.96	6.25	3.57	-18.21	-38.05
Gross Margin	20.63%	21.03%	16.01%	9.21%	15.05%
Operating Margin	9.27%	7.33%	-0.60%	-10.64%	-0.81%
Profit Margin	6.92%	1.54%	4.18%	-11.67%	-1.05%
Free Cash Flow Margin	4.38%	6.05%	6.65%	-13.50%	-24.59%
EBITDA	2,159	1,307	287	-1,186	1
EBITDA Margin	10.62%	9.56%	2.67%	-8.72%	0.01%
D&A For EBITDA	275	305	352	261	105
EBIT	1,884	1,002	-65	-1,447	-104
EBIT Margin	9.27%	7.33%	-0.60%	-10.64%	-0.81%
Effective Tax Rate	-	-	14.29%	-	-
Revenue as Reported	20,322	13,673	10,771	13,604	12,814
Advertising Expenses	363	229	228	490	479

Source: S&P Global Market Intelligence. Standard template. Financial Sources.