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Carvana Co. (CVNA) operating KPIs

CVNANYSERetail-Auto Dealers & Gasoline StationsFiscal year ends December 31
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 28, 2026Score 11/30496% above fair value
$68.29−0.02 (-0.03%)

Close on Oct 30, 2026Market cap $75.15BP/E –Yield –

KPIs

Operating metrics that drive Carvana's business · fiscal year ends Calendar fiscal year ending December 31 (FY2025 ended December 31, 2025; Q3 2026 ended September 30, 2026)

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Q3 2026
2026-09-30
Q2 2026
2026-06-30
Q1 2026
2026-03-31
Q4 2025
2025-12-31
Q3 2025
2025-09-30
Q2 2025
2025-06-30
Q1 2025
2025-03-31
Q4 2024
2024-12-31
Q3 2024
2024-09-30
Q2 2024
2024-06-30
Q1 2024
2024-03-31
Q4 2023
2023-12-31
Retail Vehicle Unit Sales
217,385197,325187,393163,522155,941143,280133,898114,379108,651101,44091,87876,090
Wholesale Vehicle Unit Sales (First-Party Carvana Wholesale)
111,119105,05283,57481,05080,36972,77063,45448,77056,48750,36844,15534,096
Wholesale Marketplace Units Transacted (ADESA Auctions)
220,913222,576214,828238,366260,805258,756248,624231,659234,361247,135242,647208,370
Average Selling Price (Per-Unit Revenue)3
Retail Vehicle Revenue per Retail Unit Sold (Retail ASP)($)
28,26327,90825,76425,41625,62523,76522,25622,31223,40523,76823,67323,354
Wholesale Vehicle Revenue per Wholesale Unit Sold (Wholesale ASP)($)
9,85410,63310,3389,63611,72110,7469,8659,3719,8619,5509,6258,623
Total Wholesale Revenue per Retail Unit Sold($)2
5,9896,8065,7536,0427,5487,1476,4455,9287,2357,0987,151
Wholesale Vehicle Revenue per Retail Unit Sold($)
4,7766,0415,4584,6753,9965,1274,7424,6263,864
Wholesale Marketplace Revenue per Retail Unit Sold($)
1,2661,5071,6891,7701,9322,1082,3562,5252,694
Total Gross Profit per Retail Unit, GAAP (Total GPU, GAAP)($)3
6,9977,0146,7836,4277,3627,4266,9386,6717,4277,0496,4325,283
Retail Vehicle Gross Profit per Retail Unit, GAAP (Retail GPU, GAAP)($)1
3,5563,5473,1652,9903,4563,6363,2043,2263,4973,4213,0802,812
Retail Cost of Sales per Retail Unit, GAAP($)
24,70724,36122,59922,42622,16920,12919,05219,08619,90820,34720,59320,542
Wholesale Gross Profit per Retail Unit, GAAP (Wholesale GPU, GAAP)($)3
708801811630866921829674930878860526
Wholesale Vehicle GPU, GAAP (per Retail Unit)($)
592465532551478385562474501368
Wholesale Marketplace GPU, GAAP (per Retail Unit)($)
219165334370351289368404359158
Wholesale Cost of Sales per Retail Unit, GAAP($)2
5,2816,0054,9425,4126,6826,2265,6165,2546,3056,2206,291
Wholesale Vehicle Cost of Sales per Retail Unit, GAAP($)
4,3115,5094,9074,1973,6114,5654,2684,1253,496
Wholesale Marketplace Cost of Sales per Retail Unit, GAAP($)
1,1011,1731,3191,4191,6431,7401,9522,1662,536
Other Gross Profit per Retail Unit, GAAP (Other GPU, GAAP — Auto Finance, VSC, GAP & Insurance)($)
2,7332,6662,8072,8073,0402,8692,9052,7713,0002,7502,4921,945
Total Gross Profit per Retail Unit, Non-GAAP (Total GPU, Non-GAAP)($)6
7,0937,1256,9116,5627,5037,5807,1406,9167,6857,3446,8025,730
Retail Vehicle GPU, Non-GAAP($)1
3,6253,6293,2503,0763,5403,7343,3083,3313,6173,5393,2112,970
Retail Cost of Sales D&A per Retail Unit($)
64768080849197105111118131158
Wholesale GPU, Non-GAAP (per Retail Unit)($)3
7598618817099551,0199648571,1231,1041,153
Wholesale Vehicle GPU, Non-GAAP (per Retail Unit)($)
603483545558493402571483522394
Wholesale Marketplace GPU, Non-GAAP (per Retail Unit)($)
278226410461471455552621631487
Wholesale Cost of Sales D&A per Retail Unit($)2
516070798998135183193226293
Wholesale Vehicle Cost of Sales D&A per Retail Unit($)
181371517992126
Wholesale Marketplace Cost of Sales D&A per Retail Unit($)
617691120166184217272329
Other GPU, Non-GAAP (per Retail Unit)($)
2,7092,6352,7802,7773,0082,8272,8682,7282,9452,7012,4381,879
Total Cost of Sales D&A Add-Back per Retail Unit($)
115136150159173189232288304344424513
Cost of Sales Share-Based Compensation Add-Back per Retail Unit($)
565607709000
Root Warrant Revenue Deduction per Retail Unit($)
-24-31-27-30-32-42-37-43-55-49-54-66
Wholesale Vehicle Gross Profit per Wholesale Unit Sold, GAAP ($/Wholesale Unit)($)
9631,0191,3289381,0331,0861,0099021,0809531,042821
Total Net Sales and Operating Revenues($M)3
8,0407,3766,4325,6035,6474,8404,2323,5473,6553,4103,0612,424
Retail Vehicle Sales, Net($M)
6,1445,5074,8284,1563,9963,4052,9802,5522,5432,4112,1751,777
Wholesale Sales and Revenues($M)3
1,3021,3431,0789881,1771,024863678786720657499
Wholesale Vehicle Revenue (First-Party Carvana Wholesale)($M)
781942782626457557481425294
Wholesale Marketplace Revenues (ADESA Auctions)($M)
207235242237221229239232205
Related-Party Revenue Included in Wholesale Sales($M)
8131311119877775
Other Sales and Revenues (Gain on Loan Sales, VSC, GAP & Root Warrants)($M)1
594526526459474411389317326279229148
Related-Party Revenue Included in Other Sales and Revenues (DriveTime VSC/GAP & Root)($M)
129117114999383725952474241
Total Gross Profit, GAAP($M)3
1,5211,3841,2711,0511,1481,064929763807715591402
Retail Vehicle Gross Profit, GAAP($M)1
773700593489539521429369380347283214
Retail Vehicle Cost of Sales, GAAP($M)
5,3714,8074,2353,6673,4572,8842,5512,1832,1632,0641,8921,563
Wholesale Gross Profit, GAAP($M)3
154158152103135132111771018979
Wholesale Vehicle Gross Profit, GAAP($M)1
768379644461484628
Wholesale Vehicle Cost of Sales, GAAP($M)
705859703562413496433379266
Wholesale Marketplace Gross Profit, GAAP (ADESA)($M)1
275253473340413312
Wholesale Marketplace Cost of Sales, GAAP($M)
180183189190188189198199193
Total Wholesale Cost of Sales, GAAP($M)
1,1481,1859268851,042892752601685631578
Other Gross Profit, GAAP (100% Gross Margin Ancillary Products & Auto Finance)($M)
594526526459474411389317326279229148
Total Gross Profit, Non-GAAP($M)3
1,5421,4061,2951,0731,1701,086956791835745625436
Retail Vehicle Gross Profit, Non-GAAP($M)2
788716609503552535443381393359295226
Retail Cost of Sales D&A($M)
141515131313131212121212
Retail Cost of Sales Share-Based Compensation($M)
111101101000
Wholesale Gross Profit, Non-GAAP($M)3
16517016511614914612998122112106
Wholesale Vehicle Gross Profit, Non-GAAP($M)1
798580664662494830
Wholesale Vehicle Cost of Sales D&A($M)
321221122
Wholesale Marketplace Gross Profit, Non-GAAP($M)1
376466635260635837
Wholesale Marketplace Cost of Sales D&A($M)
101213161920222525
Total Wholesale Cost of Sales D&A($M)
1112131314141821212327
Other Gross Profit, Non-GAAP($M)1
589520521454469405384312320274224143
Root Warrant Revenue Deduction in Other Gross Profit($M)
-5-6-5-5-5-6-5-5-6-5-5-5
Total SG&A Expenses, GAAP($M)6
805704690627595551535494469455456439
Compensation and Benefits Expense($M)
255237245221209201199184175168173162
Advertising Expense($M)
15212111810510284726456555459
Market Occupancy Expense (Vending Machines & Fulfillment Hubs)($M)
181819191716161617171816
Logistics Expense (Outbound Hauler Fleet Fuel, Maintenance, D&A & 3P Transport)($M)
685448444338373229282926
Other SG&A Expense (IT, Corporate Occupancy, Insurance, Limited Warranty, Title & Registration)($M)1
312274260238224212211198192187182176
100-Day Limited Warranty Expense Incurred($M)
595449434036353231282520
Related-Party SG&A Expense (DriveTime Shared Facilities & Services)($M)
121210898797877
Total SG&A Expenses, Non-GAAP($M)5
742637623562533485468432406390390376
Carvana Operations SG&A (Variable Fulfillment, Financing, Customer Care & Registration)($M)
379323304268255222222194188172170154
Overhead SG&A (Corporate Payroll, Technology & General Overhead)($M)
211193201189176179174174162163166150
Wholesale Marketplace Operations SG&A (ADESA)($M)
181417141515151513
SG&A Depreciation and Amortization Add-Back($M)
394241433841424140414343
SG&A Share-Based Compensation Add-Back($M)
242526222425252123242320
Total SG&A Expenses per Retail Unit Sold, GAAP($)5
3,7033,5683,6823,8343,8163,8463,9964,3194,3174,4854,9635,769
Compensation and Benefits per Retail Unit($)
1,1731,2011,3071,3521,3401,4031,4861,6091,6111,6561,8832,129
Advertising Expense per Retail Unit($)
699613630642654586538559515542588775
Market Occupancy Expense per Retail Unit($)
8391101116109112120140157168196210
Logistics Expense per Retail Unit($)
313274256269276265276280267276316342
Other SG&A Expense per Retail Unit($)
1,4351,3891,3881,4551,4371,4801,5761,7311,7671,8431,9802,313
Total SG&A Expenses per Retail Unit Sold, Non-GAAP($)5
3,4133,2283,3253,4373,4183,3853,4953,7773,7373,8454,2454,942
Carvana Operations SG&A per Retail Unit($)
1,7441,6371,6221,6391,6351,5491,6581,6961,7311,6961,8502,024
Overhead SG&A per Retail Unit($)
9709781,0731,1561,1291,2501,2991,5221,4911,6071,8071,972
Wholesale Marketplace Operations SG&A per Retail Unit($)
11090119104132138148163171
SG&A D&A per Retail Unit($)
180213218263244286314358368404468564
SG&A Share-Based Compensation per Retail Unit($)
110127139134154175187184212236250263
Adjusted EBITDA($M)3
80076967251163760148835942935523560
Total Depreciation and Amortization Add-Back (Cost of Sales + SG&A)($M)
646969696568737473768282
Total Share-Based Compensation Add-Back (Cost of Sales + SG&A)($M)
252627232426262124242320
Root Warrant Revenue Deduction($M)
-5-6-5-5-5-6-5-5-6-5-5-5
Adjusted EBITDA Margin (% of Revenue)(%)
10.0%10.4%10.4%9.1%11.3%12.4%11.5%10.1%11.7%10.4%7.7%2.5%
GAAP Net Income (Loss) Margin (% of Revenue)(%)
6.0%7.0%6.3%17.0%4.7%6.4%8.8%4.5%4.0%1.4%1.6%-8.3%
Adjusted EBITDA per Retail Unit Sold($)
3,6804,0853,948
GAAP Net Income (Loss) per Retail Unit Sold($)
2,2221,6871,362
Metropolitan Markets (MSAs) Served
316316316316316316316316316316316316
U.S. Population Coverage (% of U.S. Population in Markets Served)(%)
81.1%81.1%81.1%81.1%81.1%
Car Vending Machines in Operation
3939393938
Total Retail Inventory Pools Nationwide (Carvana IRCs + Integrated ADESA Sites)2
Carvana Inspection and Reconditioning Centers (IRCs)
181818181717
ADESA Sites Integrated with Carvana IRC Production Capabilities
21191616151265
Total Annual Retail Production Capacity at Full Utilization (k units)(M)2
1,3501,3001,300
Carvana IRC Annual Retail Production Capacity (k units)(M)
1,1501,1001,100
ADESA Annual Retail Production Capacity (k units)(M)
200200200
Automotive Finance Receivables Originated($M)
5,1824,7514,2543,6273,4343,0862,6602,2782,1632,0421,8461,532
Proceeds from Sale of Finance Receivables, Net($M)
5,3995,0214,3023,7323,6673,2172,6992,3412,4522,1871,8251,387
Gain on Loan Sales($M)
38134935432233127427321422417314474
Principal Payments Received on Finance Receivables Held for Sale($M)
766362527269484652513926
Principal Balances of Finance Receivables Sold by Channel3
Finance Receivables Sold in Securitizations (ABS Trusts)($M)
1,5501,1001,0009001,0007009006001,2001,200800500
Finance Receivables Sold under Ally Financial MPSA($M)
2,0002,1001,6001,5001,2001,200800850700500900900
Finance Receivables Sold in Fixed Pool Loan Sales($M)
1,6001,5001,4001,1001,1001,20080070040040000
Unused Committed Purchase Capacity under Loan Sale Agreements2
Ally Financial MPSA Unused Purchase Capacity($M)
6,0001,2003,3004,9002,0003,2003,2001,0001,8502,6003,100400
Fixed Pool Loan Sale Agreements Unused Purchase Capacity($M)
8,3008,7009,90011,300
Finance Receivables Held for Sale, Net (Carrying Value)($M)1
896921982813724767737612553758866807
Finance Receivables Held for Sale (Estimated Fair Value — Level 2)($M)
9629871,067886795837819670610821937854
Beneficial Interests in Securitizations, Total Fair Value($M)6
557502492486486466475464463421388366
Rated Notes (Retained Vertical & Horizontal ABS Tranches, Fair Value)($M)
426398389378372359365355361331301287
Certificates and Other Beneficial Interests in Securitizations (Fair Value)($M)
131104103108114107110109102908779
Beneficial Interests in Securitizations, Amortized Cost Basis($M)
560507501492491469474460462416383365
Non-Cash Beneficial Interests Received in Securitizations($M)
1137875677143594486806234
Principal Payments Received on and Proceeds from Sale of Beneficial Interests($M)
182631301812151511212013
Unrealized Gain (Loss) on Beneficial Interests in Securitizations($M)
732441381592
Total Liquidity Resources Available($M)4
7,5037,0246,9106,7396,4385,9815,8615,6904,4224,1063,2593,128
Committed Liquidity Resources Available($M)2
5,1204,6694,5544,3794,0723,8623,7393,5952,3932,1401,6591,536
Cash and Cash Equivalents($M)
3,0492,6302,4102,3272,1421,8571,8581,716871542252530
Availability under Short-Term Revolving Facilities (Pledgeable Inventory & Finance Receivables)($M)
2,0712,0392,1442,0521,9302,0051,8811,8791,5221,5981,4071,006
Super Senior Secured Debt Basket Capacity($M)
1,5001,5001,5001,5001,5001,5001,5001,5001,5001,5001,2621,262
Pari Passu Senior Secured Debt Basket Capacity($M)
750750750750750511511485425375250250
Unpledged Beneficial Interests in Securitizations($M)
133105106110116108111110104918880
Vehicle Inventory, Net($M)6
3,4563,2632,6642,4082,3162,0231,5031,6081,3051,2211,1621,150
7-Day Vehicle Return Policy Reserve (Reserve for Sales Returns)($M)
17715614412110998867566666557
100-Day / 4,189-Mile Limited Warranty Accrued Liability($M)
332930252320222120181816
Deferred Revenue (Extended Warranty & VSC Contract Liabilities)($M)
685947514946576350493930
Accrued Advertising Liabilities($M)
4338313125251518151454
Accrued Insurance Liabilities($M)
121102958581716863
Accrued Compensation and Benefits Liabilities($M)
1077113210387591009296606241
Short-Term Revolving Facilities Outstanding (Floor Plan & Finance Receivable Facilities)($M)3
711267958737264677672275668
Vehicle Inventory Floor Plan Facility Balance($M)
3002201416450726407672275668
Proceeds from Short-Term Revolving Facilities($M)
1,5481,2831,1259549281,569567495855907839953
Payments on Short-Term Revolving Facilities($M)
1,6031,2361,1049689271,5615705048511,1101,232714
Total Debt Principal Carrying Amount (Excluding Finance Leases)($M)10
5,1615,1335,0334,9185,0605,5715,4965,2975,5345,5015,7915,176
Senior Secured Notes (9.0% / 11.0% / 14.0% Cash/PIK Notes Due 2028–2031)($M)
2,2643,9203,9193,9183,9184,4394,3654,3454,3954,3914,5054,362
Senior Unsecured Notes (Due 2025–2030)($M)
107107107107205205205205204204204204
Asset-Based Financing Facilities Total (Real Estate, ABS BI, Hauler Fleet & Floor Plan)($M)3
1,1251,0979979409269149139069208911,0661,446
Real Estate Financing Facilities (IRCs & Vending Machines)($M)
482482482482482482482482482482482482
Beneficial Interests in Securitizations Financing Facilities($M)
424393383371365353360351356331303290
Transportation Hauler Fleet Financing Facilities($M)
1429047230
Long-Term Debt, Excluding Current Portion (Balance Sheet)($M)
4,8744,8544,8464,8304,8105,3235,2695,2565,4315,4285,5445,416
Current Portion of Long-Term Debt (Balance Sheet)($M)
302319238211319312300302209198390777
Senior Notes Estimated Fair Value (Level 2)($M)
2,5434,3224,2734,4034,5165,0394,8875,0505,1024,8274,6223,866
Proceeds from Issuance of Long-Term Debt($M)
1,7335553474933463159594222
Payments on Long-Term Debt($M)
1,733212012459821771501242802333
Gain (Loss) on Debt Extinguishment($M)
-53000-140-2-6-4-200
Payment-in-Kind (PIK) Interest Expense on Senior Secured Notes($M)
000036747270103143142138
Property and Equipment, Gross (Excluding Construction in Progress)($M)6
4,1964,1324,0654,0023,8523,7903,7423,7083,7403,7233,7163,685
Buildings and Improvements, Gross (IRCs, ADESA Sites & Vending Machines)($M)
1,5181,5041,4901,4671,4271,4131,3941,3801,3761,3721,3661,344
Land and Site Improvements, Gross($M)
1,3751,3721,3691,3651,3341,3341,3351,3351,3331,3321,3311,331
Transportation Fleet Equipment, Gross (Multi-Car & Single-Car Haulers)($M)
732690656636589557548545549551562570
Internal-Use Software, Gross($M)
384378368356343331314301337324314296
Furniture, Fixtures and Equipment, Gross($M)
187188182178159155151147145144143144
Construction in Progress (Excluding Unacquired Real Estate)($M)
15010671626055625961555172
Accumulated Depreciation and Amortization on Property and Equipment($M)
1,4321,3791,3151,2501,1851,1231,061994975911848775
Property and Equipment, Net($M)
2,9142,8592,8212,8142,7272,7222,7432,7732,8262,8672,9192,982
Total Depreciation and Amortization Expense (Excluding Debt Issuance Costs)($M)5
646969696568737473768282
Depreciation and Amortization in SG&A Expenses($M)
374039413537373636363940
Depreciation and Amortization in Cost of Sales($M)
252728262727313333353939
Depreciation Capitalized to Vehicle Inventory($M)
13
Finance Lease Right-of-Use Asset Amortization($M)
232424262423232421252626
Intangible Assets Amortization Expense($M)
221234554544
Finite-Lived Intangible Assets, Net($M)2
151719202326293439434852
Finite-Lived Intangible Assets, Gross($M)2
1171171111089397979191919191
Customer Relationships Intangible Assets, Gross (ADESA & Car360)($M)
505050505050505050505050
Developed Technology Intangible Assets, Gross (ADESA & Car360)($M)
313131313141414141414141
Accumulated Amortization of Finite-Lived Intangible Assets($M)
666462615865625752484339
Operating Lease Right-of-Use Assets($M)7
434425431443438430430440452466447455
Operating Lease Liabilities, Total($M)
469461467480475473472481493510488494
Operating Lease Cost($M)
191818171517171716151718
Related-Party Operating Lease Cost (DriveTime & Verde)($M)
111101111112
Operating Lease Weighted-Average Discount Rate (%)(%)
7.2%7.2%7.3%7.0%7.4%7.0%7.3%7.3%7.3%7.2%7.1%7.1%
Finance Lease Liabilities, Total (Hauler Fleet & Equipment)($M)
100118137157160156166183203223244267
Finance Lease Cost (Amortization of ROU Assets + Interest on Lease Liabilities)($M)
252626292625262724283029
Finance Lease Weighted-Average Discount Rate (%)(%)
6.5%6.4%6.3%6.3%6.2%6.0%6.0%5.9%5.9%6.0%6.0%5.9%
Unconditional Purchase Obligations, Total($M)
657178849096103109115121128139
Up-C Dual-Class Share Structure & Carvana Group, LLC Ownership6
Class A Common Stock Issued and Outstanding (in millions)(M)
722719715711706682672666126121117114
Class B Common Stock Issued and Outstanding (in millions)(M)
38138138138138139239639680.985.685.685.6
Carvana Co. Ownership % of Carvana Group, LLC (Class A Unitholders)(%)
65.1%65.0%64.9%64.7%64.6%63.1%62.5%62.3%60.4%58.0%57.1%56.6%
Non-Controlling Interests (LLC Unitholders) Ownership % of Carvana Group, LLC(%)
34.9%35.0%35.1%35.3%35.4%36.9%37.5%37.7%39.6%42.0%42.9%43.4%
Class A LLC Units Exchanged by Non-Controlling Unitholders (in thousands)(M)
0033-16,15114,8035,107692,6505,899973934
Class A Common Stock Issued upon Exchange of LLC Units (in thousands)(M)
0026-12,91311,8414,080552,1034,718732931
Related-Party Costs & Servicing Fees with DriveTime Automotive Group3
Related-Party Cost of Sales (Reconditioning & Vehicle Acquisition)($M)
445434322312
DriveTime Loan Servicing and Administrative Fees($M)
122121232323
DriveTime Master Dealer Agreement (VSC / GAP) Administrative Expense($M)
9107676565444
Deferred Tax Assets & Tax Receivable Agreement (TRA) Liabilities2
Deferred Tax Assets, Net (Post Valuation Allowance Release)($M)
2,9052,9683,0313,0643
Tax Receivable Agreement (TRA) Liability, Total($M)4
2,2302,2292,2282,26517013110582373314
Tax Receivable Agreement (TRA) Liability, Noncurrent($M)
2,1302,1302,1302,228122835765231914
Tax Receivable Agreement (TRA) Liability, Current($M)
1009998374848481714140
Tax Receivable Agreement (TRA) Liability Attributable to Related Parties($M)
1,7001,7001,7001,700132987861282611
Cash Payments under Tax Receivable Agreement($M)
0037000170000
Root, Inc. Strategic Partnership Warrants & Employee Benefits3
Warrants to Acquire Root Class A Common Stock (Fair Value)($M)
1414155812030
Unrealized Gain (Loss) on Warrants to Acquire Root Class A Common Stock($M)
173426712035-158-882622-750
Unrecognized Equity-Based Compensation Cost on Non-Vested Awards($M)
204181212171191220250187209235264176
Public Automotive Retail, Wholesale Auction & Auto Finance Peers (SEC XBRL)5
CarMax (KMX) — Total Net Sales and Operating Revenues($M)5
7,8788,0145,9465,7946,5957,5476,0036,2237,0147,1135,6276,149
CarMax (KMX) — Gross Profit($M)
800854605590718894668678761792586613
CarMax (KMX) — Selling, General and Administrative Expenses($M)
629635611581601660611576611639581560
CarMax (KMX) — Net Income($M)
165186-12162.295.421089.912513315250.382
CarMax (KMX) — Vehicle Inventory($M)
3,8554,0634,1373,1283,1503,6243,9353,6653,3983,7733,6783,639
CarMax (KMX) — Capital Expenditures($M)
77.1103133140132137128127109104110145
AutoNation (AN) — Total Revenue($M)6
6,9306,5526,9297,0376,9746,6907,2136,5866,4806,4866,767
AutoNation (AN) — Gross Profit($M)
1,2311,2111,2151,2381,2751,2201,2421,1831,1631,1981,215
AutoNation (AN) — Selling, General and Administrative Expenses($M)
856842836850855822834811826793808
AutoNation (AN) — Operating Income($M)
319314314372218336340351275340350
AutoNation (AN) — Net Income($M)
18220517221586.4176186186130190216
AutoNation (AN) — Vehicle Inventory($M)
3,7383,4443,4053,4893,4463,2323,3603,5313,5543,0033,033
AutoNation (AN) — Capital Expenditures($M)
69.656.486.368.97975.266.38187.593.7124
Lithia Motors (LAD) — Total Revenue($M)6
9,9479,7919,2719,1989,6769,5839,1789,1749,2219,2328,5627,674
Lithia Motors (LAD) — Gross Profit($M)
1,4961,4971,4221,3721,4661,4851,4101,3721,4301,4241,3351,261
Lithia Motors (LAD) — Selling, General and Administrative Expenses($M)
1,0361,0151,0379799981,015953902944975934837
Lithia Motors (LAD) — Operating Income($M)
420448336341422425406412422394341373
Lithia Motors (LAD) — Net Income($M)
291260100137217256210213207214163214
Lithia Motors (LAD) — Vehicle Inventory($M)
6,6246,5176,1936,1205,9426,0625,7495,9126,1006,2435,8624,754
Lithia Motors (LAD) — Capital Expenditures($M)
98.956.397.193.210980.168.779.562.213079.666.5
ACV Auctions (ACVA) — Total Revenue (Digital Wholesale Auction Peer)($M)3
214204184200194183160171161146118
ACV Auctions (ACVA) — Selling, General and Administrative Expenses($M)
53.856.250.272.8535956.75551.953.942.8
ACV Auctions (ACVA) — Operating Income (Loss)($M)
-6-9.20-17.8-23.7-7.20-14.4-25.8-17.1-18.6-22.5-26.8
ACV Auctions (ACVA) — Net Income (Loss)($M)
-8.20-10.9-19.6-24.5-7.30-14.8-26.1-16-17.1-20.5-23.2
Ally Financial (ALLY) — Total Net Revenue (Auto Finance Partner & Benchmark)($M)1
2,2862,1022,1232,1682,0821,5412,0262,1352,0221,9982,087
Ally Financial (ALLY) — Net Income($M)
410319327398352-22510819821914362
Consolidated Statements of Operations (DB + Q3 2026 XBRL)12
Net Sales and Operating Revenues($M)
8,0407,3766,4325,6035,6474,8404,2323,5473,6553,4103,0612,424
Cost of Sales($M)
6,5195,9925,1614,5524,4993,7763,3032,7842,8482,6952,4702,022
Gross Profit($M)
1,5211,3841,2711,0511,1481,064929763807715591402
Selling, General and Administrative Expenses($M)
805704690627595551535494469455456439
Operating Income (Loss)($M)
714680581424552511394260337259134-38
Interest Expense, Net($M)
981019998125143139148157173173165
Income Tax Provision (Benefit)($M)
696636-2,783-402-3-11-1-2
Consolidated Net Income (Loss)($M)
4835134059512633083731591484849-200
Net Income (Loss) Attributable to Non-Controlling Interests($M)
1942031559411212515780633021-86
Net Income (Loss) Attributable to Carvana Co.($M)
28931025085715118321679851828-114
Basic Earnings (Loss) per Share of Class A Common Stock($)
0.400.431.750.220.271.610.690.150.24
Diluted Earnings (Loss) per Share of Class A Common Stock($)
0.390.421.690.210.261.510.640.140.23
Consolidated Balance Sheets (DB + Q3 2026 XBRL)14
Cash and Cash Equivalents($M)
3,0492,6302,4102,3272,1421,8571,8581,716871542252530
Restricted Cash($M)
1231131021027973464461657564
Accounts Receivable, Net($M)
320377339245352320369303363349351266
Vehicle Inventory($M)
3,4563,2632,6642,4082,3162,0231,5031,6081,3051,2211,1621,150
Total Current Assets($M)
8,6288,0067,1976,5496,2655,6735,1374,8693,7653,4773,2323,321
Property and Equipment, Net($M)
2,9142,8592,8212,8142,7272,7222,7432,7732,8262,8672,9192,982
Goodwill($M)
121210103220
Total Assets($M)
15,19514,55213,77113,2019,8539,3668,8788,4847,3687,1706,9837,071
Accounts Payable and Accrued Liabilities($M)
1,5741,4611,2591,1001,012893836856772742705596
Total Current Liabilities($M)
2,1302,0391,7611,5191,5481,4171,3471,3381,1591,1181,2741,536
Total Liabilities($M)
9,5429,4149,1398,9986,9027,2497,1057,1097,0827,0557,2947,455
Total Stockholders' Equity Attributable to Carvana Co.($M)
4,3524,0283,7203,4412,2791,7301,5041,260611526289243
Non-Controlling Interests($M)
1,3011,110912762672387269115-325-411-600-627
Total Stockholders' Equity($M)
5,6535,1384,6324,2032,9512,1171,7731,375286115-311-384
Consolidated Statements of Cash Flows (DB + Q3 2026 XBRL)5
Net Cash Provided by (Used in) Operating Activities($M)
5552381074303452923260403354101-239
Purchases of Property and Equipment (CapEx)($M)
645151513831272427221818
Net Cash Used in Investing Activities($M)
-46-52-31-130-46-19-35-7-15279
Net Cash Provided by (Used in) Financing Activities($M)
-80457-92-816-53775-63-76-375208
Equity-Based Compensation Expense($M)
242527222427232224232221

1 metric has no data in the last 12 quarters — .

Italic numbers are calculated by StockData from reported figures (hover for the formula). Numbers with a dotted underline are read from the text of earnings releases and presentations; hover to see the exact sentence. Tick a row to add it to the chart above (up to 8 lines).

Methodology and excluded metrics
  • Fiscal calendar: Carvana Co. operates on a calendar fiscal year ending December 31 (FY2025 ended December 31, 2025; Q1 2026 ended March 31, 2026; Q2 2026 ended June 30, 2026; Q3 2026 ended September 30, 2026, filed October 28, 2026). Carvana operates as a single reportable segment (Note 18), so operational performance is tracked through vehicle unit volumes, per-retail-unit Gross Profit per Unit (GPU — GAAP & Non-GAAP), product-line gross profit, SG&A per retail unit, physical fulfillment & reconditioning infrastructure, and auto finance securitization metrics.
  • Core operational KPIs (Groups 1–5) cover: (1) Vehicle Unit Volumes (217,385 retail units sold, 111,119 first-party wholesale vehicle units sold, and 220,913 ADESA wholesale marketplace units transacted in Q3 2026; 596,641 retail units, 297,643 wholesale units, and 1,006,551 marketplace units in FY2025); (2) Per-Unit Economics & GPU ($28,263 Retail ASP and $9,854 Wholesale ASP in Q3 2026; $6,997 GAAP / $7,093 Non-GAAP Total GPU in Q3 2026 split into $3,556 GAAP / $3,625 Non-GAAP Retail GPU, $708 GAAP / $759 Non-GAAP Wholesale GPU, and $2,733 GAAP / $2,709 Non-GAAP Other GPU, plus $963 Wholesale Vehicle GP per Wholesale Unit); (3) Product-Line Revenue, Cost of Sales & Gross Profit ($8,040M total revenue and $1,521M GAAP / $1,542M Non-GAAP gross profit in Q3 2026 across Retail $773M GAAP / $788M Non-GAAP, Wholesale $154M GAAP / $165M Non-GAAP, and Other $594M GAAP / $589M Non-GAAP, plus historical split of Wholesale Vehicle vs. ADESA Wholesale Marketplace through Q4 2025 / Q1 2026); (4) SG&A Breakdown & Adjusted EBITDA ($805M GAAP / $742M Non-GAAP SG&A or $3,703 GAAP / $3,413 Non-GAAP SG&A per retail unit in Q3 2026 across Compensation & Benefits $255M / $1,173/unit, Advertising $152M / $699/unit, Market Occupancy $18M / $83/unit, Logistics $68M / $313/unit, and Other SG&A $312M / $1,435/unit, or Carvana Operations $379M / $1,744/unit and Overhead $211M / $970/unit; $800M Adjusted EBITDA / 10.0% margin / $3,680 per retail unit in Q3 2026 and $2,237M / 11.0% margin in FY2025); and (5) Physical Footprint & Licensing (316 MSA markets served, 75% of U.S. population within 100 miles of an IRC or ADESA site, 39 car vending machines, 18 Carvana IRCs, 21 integrated ADESA sites out of 56 total ADESA U.S. auction locations in Q3 2026, 4.7/5.0 average customer satisfaction rating, 40 states with dealer licenses, and 33 states with sales finance licenses).
  • Extended operational & financial-note KPIs (Groups 6–10) cover: (6) Auto Finance Platform & Securitizations ($4,090M loans originated, $4,251M loan sale proceeds, and $403M gain on loan sales in Q3 2026; $2,232M sold in ABS securitizations, $736M sold under the Ally Financial MPSA with $4.0B total / $2.1B unused capacity, and $1,012M sold in fixed pools with $4.0B total / $2.5B unused capacity in Q3 2026; $896M finance receivables HFS and $557M retained beneficial interests in securitizations at Q3 2026); (7) Liquidity Resources, Vehicle Inventory & Debt ($7,503M total liquidity resources at Q3 2026 comprising $3,049M cash, $2,071M revolving facility availability, $1,500M super senior debt capacity, $750M pari passu senior debt capacity, and $133M unpledged ABS beneficial interests; $3,456M vehicle inventory, $18M 7-day return reserve, $19M 100-day warranty accrual, $71M short-term revolving facilities, and $5,529M carrying / $5,863M fair value long-term debt at Q3 2026); (8) PP&E, Intangibles, Leases & Commitments ($3,987M gross / $2,914M net PP&E at Q3 2026 including $2,239M buildings, $1,197M land, $221M hauler fleet, $138M software, and $108M CIP; $64M total D&A, $51M net intangibles, $434M operating lease ROU assets, and $86M purchase obligations at Q3 2026); (9) Up-C Structure, TRA & Governance (68.2% Carvana Co. / 31.8% NCI ownership of Carvana Group, LLC, $2,905M net DTAs, $2,092M Tax Receivable Agreement liability at Q3 2026, $100M Root warrants + $67M Root shares, 51 issued U.S. patents, 28 domestic trademarks, 194:1 CEO pay ratio / $43,236 median employee compensation in FY2025, and Grant Thornton auditor fees); and (10) Public Peers (KMX, AN, LAD, ACVA, ALLY) and Monthly U.S. BLS Used Auto Indices.
  • No parent-only standalone financial statements exist (Carvana Co. is a holding company whose sole material asset is its equity interest in Carvana Group, LLC), so no Consolidated − Standalone subtraction is performed. All values are strictly as published (with verbatim quotes on hover for text-extracted metrics; bound disclosures such as 'over 80%' population coverage or 'over 23,100' employees are excluded from table cells). The only arithmetic shown in table cells is period splitting (Q4 = full year − 9M; Q2 = 6M − Q1; Q3 = 9M − 6M), displayed in italic with the formula.

Not shown because recent periods are missing (10)

  • Physical Footprint › U.S. Population Coverage (%) in FY2025–Q3 2026: Switched from exact percentage (81.1% through Q4 2024 in IR Excel & FY2023 10-K) to bound disclosure ('over 80% of the U.S. population') in FY2024–FY2025 10-K and FY2026 10-Q.
  • Physical Footprint › U.S. Population within 100 Miles of an IRC or ADESA Site (%): Disclosed with approximation prefix ('we estimate that 75% of the U.S. population is within 100 miles of an IRC or auction site'), rejected by lib.quotes.number_in(..., allow_bound=False).
  • Physical Footprint › Annual Retail Production Capacity (k units) in Q3 2024–Q3 2026: Switched from exact line-level table (1,350k units through Q2 2024 in IR Excel) to bound/approximate narrative ('> 1,000k', 'over 1 million', 'approximately 1.5 million retail units') in Q3 2024–Q3 2026 filings.
  • Physical Footprint › Available Website Inventory Units: Disclosed only as bounds or sporadic approximations ('over 53k units' in Q4 2024, 'more than 75,000 vehicles available on our website' in Q4 2025, 'over 85,000' in 10-K).
  • Physical Footprint › Cumulative Customer Satisfaction Surveys Solicited: Disclosed only as bounds ('over 138,000' in FY21, 'over 176,000' in FY22, 'over 195,000' in FY23, 'over 215,000' in FY24, 'over 245,000 surveys' in FY25 10-K).
  • Workforce › Total Employee Headcount (10-K Item 1): Disclosed only as bounds across all 10-K filings ('over 21,000' in FY21, 'over 17,400' in FY22, 'over 13,700' in FY23, 'over 17,400' in FY24, 'over 23,100 employees' in FY25 10-K).
  • Customer Experience › Net Promoter Score (NPS) & AI Self-Service Adoption %: Disclosed only as relative change ('driven up our Net Promoter Score by 9 points over the last two years' in Q3 2026 letter) or single-period snapshot ('30% of our retail customers and 60% of customers selling us their car' in Q4 2025 letter).
  • New Vehicle Franchise Dealerships › Stellantis Franchise Dealership Count: Single-period disclosure in Q3 2026 Shareholder Letter ('seven Stellantis franchise dealerships'), lacking 3 consecutive periods.
  • Auto Finance › Total Maximum Commitment Ceilings under Loan Sale Agreements: Disclosed as upper bounds ('up to a maximum of $8.0 billion' under Ally MPSA and 'up to $12.5 billion' under Fixed Pool agreements) tagged on amendment dates rather than quarter-ends; exact quarter-end unused capacities ($6,000M Ally MPSA and $8,300M Fixed Pool at Q3 2026) are included.
  • Liquidity Resources › Availability under Sale-Leaseback Agreements & Unpledged Vehicle Inventory: Non-zero only in Q4 2020 ($100M sale-leaseback) and Q4 2021 / Q1 2022 / Q3 2022 (unpledged vehicle inventory, dashed '—' in Q2 2022 and Q4 2022) and discontinued thereafter, lacking 3 consecutive quarters.

Data updated 2026-10-29.

Every KPI on its own page

Full history, chart, sources and a citation for each metric

Vehicle Unit Sales & Wholesale Marketplace Volume (Core Operational #1)

Unit Economics — Average Selling Price (ASP) & Gross Profit per Unit (GPU, GAAP & Non-GAAP)

Product-Line Revenue, Cost of Sales & Gross Profit ($M — GAAP & Non-GAAP)

SG&A Expense Breakdown ($M & $/Retail Unit) & Adjusted EBITDA

Physical Footprint, Markets, IRCs, ADESA Integrations, Vending Machines & State Licensing

Auto Finance Platform, Loan Originations, Ally MPSA & ABS Securitizations

Liquidity Resources, Vehicle Inventory, Warranties, Floor Plan Facilities & Debt Structure

Property & Equipment (IRCs, ADESA, Hauler Fleet, Software), Intangibles, Leases & Commitments

Up-C Ownership Structure, Tax Receivable Agreement (TRA), Root Warrants, Patents & Governance

Public Automotive Retail & Auction Peers (SEC XBRL) & U.S. Used Auto Macro Indicators (BLS)

Core Financial Statements Reference (PostgreSQL DB + Q3 2026 Form 10-Q XBRL)