Carvana Co. (CVNA)
NYSE: CVNA · Real-Time Price · USD
73.87
+0.85 (1.16%)
At close: Nov 11, 2026, 4:00 PM EST
73.52
-0.35 (-0.48%)
After-hours: Nov 11, 2026, 7:52 PM EST
Carvana Co. Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 | 1,706 | 1,407 | 210 | 450 | -1,587 | -135 |
Depreciation & Amortization | 271 | 275 | 305 | 352 | 261 | 105 |
Other Amortization | 17 | 10 | 15 | 24 | 27 | 11 |
Loss (Gain) From Sale of Assets | -1,398 | -1,190 | -743 | -426 | -397 | -716 |
Asset Writedown & Restructuring Costs | - | - | - | - | 847 | - |
Stock-Based Compensation | 97 | 96 | 91 | 73 | 69 | 39 |
Provision & Write-off of Bad Debts | 14 | 15 | 27 | 38 | 23 | 28 |
Other Operating Activities | 300 | 166 | 618 | -987 | -1,233 | -135 |
Change in Accounts Receivable | 23 | 49 | -47 | -22 | 145 | -148 |
Change in Inventory | -1,083 | -734 | -455 | 711 | 1,354 | -2,086 |
Change in Accounts Payable | 557 | 235 | 260 | -166 | -46 | 247 |
Change in Other Net Operating Assets | -51 | -30 | -4 | 31 | -60 | -95 |
Operating Cash Flow | 1,330 | 1,036 | 918 | 803 | -1,324 | -2,594 |
Operating Cash Flow Growth | 99.70% | 12.85% | 14.32% | - | - | - |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Capital Expenditures | -217 | -147 | -91 | -87 | -512 | -557 |
Sale of Property, Plant & Equipment | 2 | 2 | 11 | 72 | 44 | - |
Cash Acquisitions | -149 | -160 | - | -7 | -2,196 | - |
Investment in Securities | - | - | - | - | - | -126 |
Investing Cash Flow | -259 | -230 | -13 | 31 | -2,583 | -627 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
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 | 6,798 | 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 | -6,809 | -4,846 | -4,274 | -8,078 | -13,666 | -12,660 |
Net Debt Issued (Repaid) | -11 | -653 | -987 | -1,237 | 2,751 | 3,590 |
Issuance of Common Stock | 15 | 584 | 1,271 | 453 | 1,231 | 2 |
Repurchase of Common Stock | -61 | -30 | -19 | -15 | -8 | -40 |
Other Financing Activities | -63 | -38 | -4 | -69 | -75 | -24 |
Financing Cash Flow | -120 | -137 | 261 | -868 | 3,899 | 3,528 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 Cash Flow | 951 | 669 | 1,166 | -34 | -8 | 307 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Free Cash Flow | 1,113 | 889 | 827 | 716 | -1,836 | -3,151 |
Free Cash Flow Growth | 103.85% | 7.50% | 15.50% | - | - | - |
Free Cash Flow Margin | 4.05% | 4.38% | 6.05% | 6.65% | -13.50% | -24.59% |
Free Cash Flow Per Share | 0.98 | 0.79 | 1.25 | 0.71 | -3.64 | -7.61 |
Levered Free Cash Flow | 652.5 | 249.88 | 566.38 | 1,159 | -911.13 | -2,850 |
Unlevered Free Cash Flow | 883 | 555.5 | 958.25 | 1,530 | -634.38 | -2,751 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Cash Interest Paid | 468 | 336 | 115 | 538 | 423 | 152 |
Cash Income Tax Paid | 4 | - | - | - | 3 | 2 |
Change in Working Capital | -554 | -480 | -246 | 554 | 1,393 | -2,082 |