Carvana Co. Cash Flow 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
Net Income	1,407	210	450	-1,587	-135
Depreciation & Amortization	275	305	352	261	105
Other Amortization	10	15	24	27	11
Loss (Gain) From Sale of Assets	-1,190	-743	-426	-397	-716
Asset Writedown & Restructuring Costs	-	-	-	847	-
Stock-Based Compensation	96	91	73	69	39
Provision & Write-off of Bad Debts	15	27	38	23	28
Other Operating Activities	154	595	-1,001	-1,233	-135
Change in Accounts Receivable	49	-47	-22	145	-148
Change in Inventory	-734	-455	711	1,354	-2,086
Change in Accounts Payable	235	260	-166	-46	247
Change in Other Net Operating Assets	-30	-4	31	-60	-95
Operating Cash Flow	1,036	918	803	-1,324	-2,594
Operating Cash Flow Growth	12.85%	14.32%	-	-	-
Capital Expenditures	-147	-91	-87	-512	-557
Sale of Property, Plant & Equipment	2	11	72	44	-
Cash Acquisitions	-160	-	-7	-2,196	-
Investment in Securities	-	-	-	-	-126
Investing Cash Flow	-230	-13	31	-2,583	-627
Short-Term Debt Issued	4,018	3,096	6,709	12,982	14,600
Long-Term Debt Issued	175	191	132	3,435	1,650
Total Debt Issued	4,193	3,287	6,841	16,417	16,250
Short-Term Debt Repaid	-4,026	-3,697	-7,575	-13,501	-12,587
Long-Term Debt Repaid	-820	-577	-503	-165	-73
Total Debt Repaid	-4,846	-4,274	-8,078	-13,666	-12,660
Net Debt Issued (Repaid)	-653	-987	-1,237	2,751	3,590
Issuance of Common Stock	584	1,271	453	1,231	2
Repurchase of Common Stock	-30	-19	-15	-8	-40
Other Financing Activities	-38	-4	-69	-75	-24
Financing Cash Flow	-137	261	-868	3,899	3,528
Net Cash Flow	669	1,166	-34	-8	307
Free Cash Flow	889	827	716	-1,836	-3,151
Free Cash Flow Growth	7.50%	15.50%	-	-	-
Free Cash Flow Margin	4.38%	6.05%	6.65%	-13.50%	-24.59%
Free Cash Flow Per Share	3.96	6.25	3.57	-18.21	-38.05
Cash Interest Paid	336	115	538	423	152
Cash Income Tax Paid	4	-	-	3	2
Levered Free Cash Flow	249.88	566.38	1,159	-911.13	-2,850
Unlevered Free Cash Flow	555.5	958.25	1,530	-634.38	-2,751
Change in Working Capital	-480	-246	554	1,393	-2,082

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