Carvana (CVNA) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Carvana

NYSE•Consumer Cyclical•Auto & Truck Dealerships

$65.84+0.44(0.01%)After hours

Market Cap

$46.73B

P/E

29.8x

P/S

1.9x

P/B

11.6x

Carvana Co., together with its subsidiaries, operates an e-commerce platform for buying and selling used cars. It provides vehicle acquisition, inspection and reconditioning, online search and shopping experience, financing, complementary products, logistics network and distinctive fulfillment experience, and post-sale customer support services. The company also operates auction sites. Carvana Co. was founded in 2012 and is based in Tempe, Arizona.

How this company scores

GoodMetricSide Score: 77/100

Strongest: Growth (22/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability20/25

Growth22/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality20/25

Strengths

Growing revenueRising free cash flowHigh ROERising earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 29.8x5y range 13.4x – 1268.8x

Currently below its 11-quarter median.

P/S · 1.9x5y range 0.0x – 3.0x

Currently above its 20-quarter median.

P/B · 11.6x5y range 4.1x – 218.3x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

FCF consistently trails net income (avg 1.1x) — earnings may be inflated by non-cash items or aggressive accounting.

Share Dilution

Red Flag

Shares outstanding increased 15.9% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $46.73B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $25.06B
Q. Revenue: $7.38B
TTM EBITDA: $2.51B
TTM Op. Income: $2.24B
Q. Op. Income: $680.00M
TTM Net Income: $1.57B
Q. Net Income: $310.00M
EPS: N/A
Shares Out.: $717.69M

$25.06B in TTM revenue grew 54.0% YoY, reaching $7.38B last quarter. TTM EBITDA of $2.51B and TTM operating income of $2.24B show growth is flowing through to the bottom line. TTM net income of $1.57B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 18.8%
EBITDA Margin: 10.2%
Op. Margin: 9.2%
Net Margin: 4.2%

Op. margin of 9.2% is down 1.3% YoY — costs are rising relative to revenue. Net margin at 4.2% and gross margin of 18.8% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 29.8x
P/S Ratio: 1.9x
P/B Ratio: 11.6x

At 29.8x P/E, the stock trades within typical market levels. P/S of 1.9x and P/B of 11.6x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 63% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $14.55B
Cash: $2.63B
Long-Term Debt: $4.85B
Book Value: $4.03B
D/E Ratio: 1.2
Debt/EBITDA: 6.5

With $14.55B in assets and $4.85B in long-term debt, D/E is 1.2and book value is $4.03B — moderate leverage. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $238.00M
TTM Free Cash Flow: $929.00M
FCF Margin: 3.7%
FCF / Net Income: 0.6

TTM FCF of $929.00M on $238.00M in operating cash flow. The FCF / Net Income ratio of 0.6x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is up 51% — an improving trend.