Carvana (CVNA) stock
Consumer Discretionary · Automotive Retail
Carvana (CVNA) is an Automotive Retail company in the Consumer Discretionary sector, headquartered in Tempe, Arizona. As of October 23, 2026, CVNA closed at $57.81, a market capitalization of $64.08 billion, the 193rd largest company in the S&P 500. Over the last twelve months it generated $25.06 billion in revenue (+52% year over year) and $929.00 million in free cash flow. The stock trades at 30.6x trailing earnings and 25.8x forward earnings.
- 1-year total return: -15.5% (dividends reinvested)
- 5-year return: -0.6% a year
- 52-week range: $54.46 – $97.38
- Gross margin 19.4%, operating margin 9.2%
- FI Handbook report card: C- across 9 metrics
- 17th largest of 47 Consumer Discretionary stocks in the S&P 500
CVNA price chart
1Y price change: -15.5% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| CVNA | -9.6% | -31.5% | -15.5% | +108.8% | -0.6% | — | +41.0% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2017.
CVNA key statistics
- Market cap
- $64.1B
- #193 in S&P 500
- P/E (TTM)
- 30.6x
- Forward P/E
- 25.8x
- EPS (TTM)
- $1.89
- Revenue (TTM)
- $25.1B
- +52%
- Free cash flow
- $929.0M
- Gross margin
- 19.4%
- Operating margin
- 9.2%
- Return on equity
- 58.8%
- Dividend yield
- None
- 52-week range
- $54.46 – $97.38
- Beta
- 3.55
- Price / sales
- 2.6x
- EV / EBITDA
- 18.0x
- Debt / equity
- 1.11x
- Employees
- 23,100
CVNA report card
C-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth52.4%A
- Gross margin19.4%D
- Operating margin9.2%D
- FCF margin3.7%D
- Return on equity58.8%A
- Net debt / EBITDA1.0xC
- Forward P/E25.8xC
- PEG ratio——
- Shareholder yield0.0%F
- Share count change / yr28.1%F
Carvana financials
Revenue went from $365.1M in fiscal 2016 to $20.3B in fiscal 2025, growing 56.3% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $365.1M | $858.9M | $2.0B | $3.9B | $5.6B | $12.8B | $13.6B | $10.8B | $13.7B | $20.3B |
| Gross profit | $19.2M | $68.1M | $196.7M | $507.0M | $794.0M | $1.9B | $1.2B | $1.7B | $2.9B | $4.2B |
| Operating income | — | — | — | — | — | — | -$2.4B | -$80.0M | $990.0M | $1.9B |
| Net income | -$93.1M | -$62.8M | -$55.5M | -$115.0M | -$171.0M | -$135.0M | -$1.6B | $450.0M | $210.0M | $1.4B |
| EPS (diluted) | — | — | — | $-0.49 | $-0.53 | $-0.33 | $-3.15 | $0.15 | $0.32 | $1.69 |
| Free cash flow | -$279.8M | -$278.4M | -$558.0M | -$988.0M | -$968.0M | -$3.2B | -$1.8B | $716.0M | $827.0M | $889.0M |
| Dividends paid | $0 | $0 | $4.6M | — | — | — | — | — | — | — |
| Diluted shares | — | — | — | 234.2M | 324.9M | 414.0M | 504.1M | 1.0B | 661.0M | 1.1B |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into CVNA?
A reverse DCF asks what growth the current price requires. With an enterprise value of $66.6B and $929.0M of trailing free cash flow, Carvana needs to grow free cash flow about 44.6% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 34.2x vs. median 192.8x (10th–90th percentile 37.6x–302.9x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
CVNA analyst price targets
21 analysts' average 12-month target is $81.95 (+42% vs. $57.81). Targets range from $60.00 to $120.00. 67% rate it a buy.
CVNA earnings
Next report: October 28, 2026. Carvana has beaten EPS estimates 3 quarters in a row. Last quarter's revenue was $7.4B (+52% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 29, 2026 | $0.38 | $0.42 | +10.1% |
| Apr 29, 2026 | $0.30 | $0.34 | +11.7% |
| Feb 18, 2026 | $0.24 | $0.84 | +259.0% |
| Oct 29, 2025 | $0.26 | $0.21 | -22.0% |
| Jul 30, 2025 | $0.21 | $0.26 | +21.6% |
| May 7, 2025 | $0.15 | $0.30 | +102.1% |
| Feb 19, 2025 | $0.05 | $0.12 | +128.5% |
| Oct 30, 2024 | $0.04 | $0.13 | +184.8% |
Stocks like CVNA
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 ORLY O'Reilly Automotive | -2.26% | -9% | $72.7B | 28.5x | Compare |
 AZO AutoZone | -2.14% | -17% | $51.8B | 20.3x | Compare |
 AMZN Amazon.com | -0.95% | +12% | $2.7T | 20.0x | Compare |
 TSLA Tesla | -0.63% | -17% | $1.5T | 409.0x | Compare |
 HD Home Depot | -2.41% | -15% | $319.1B | 21.5x | Compare |
 MCD McDonald's | -1.65% | -17% | $175.8B | 20.2x | Compare |
 TJX TJX Companies | -1.57% | +3% | $159.6B | 26.9x | Compare |
 BKNG Booking Holdings Inc. Common St | -3.27% | -23% | $117.1B | 17.3x | Compare |
CVNA news
- Why Is Carvana (CVNA) Expanding Community Ties And Same Day Delivery? · Oct 24, 2026
- Carvana’s Reckoning Day on Oct. 28: Can Used-Car King Overcome Margin Compression and Defy Extreme Premium Valuation? · Oct 24, 2026
- Curious about Carvana (CVNA) Q3 Performance? Explore Wall Street Estimates for Key Metrics · Oct 23, 2026
- What to Expect From Carvana’s Q3 2026 Earnings Report · Oct 23, 2026
- The Used Car Market May Be Stabilizing As Carvana Keeps Sliding · Oct 22, 2026
CVNA stock FAQ
What is CVNA's market cap?
Carvana's market capitalization is $64.08 billion as of October 23, 2026, ranking 193rd in the S&P 500.
What is CVNA's P/E ratio?
CVNA trades at a trailing price-to-earnings ratio of 30.6x and a forward P/E of 25.8x. Its median P/E over the period we track is 192.8x.
Does CVNA pay a dividend?
No. Carvana does not currently pay a regular cash dividend.
How much has CVNA stock returned?
Including reinvested dividends, CVNA returned -15.5% over one year, -0.6% a year over five years through October 23, 2026.
Is CVNA stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Carvana must grow free cash flow about 45% a year for the next decade. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the CVNA price target?
21 analysts cover CVNA with an average 12-month price target of $81.95, +42% from the current price. 67% of them rate it a buy.
When does CVNA report earnings?
Carvana is expected to report earnings on October 28, 2026. It has beaten EPS estimates 3 quarters in a row.
How many employees does Carvana have?
Carvana has about 23,100 full-time employees, or $1.1 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology