Carvana Co. (CVNA)
Consumer Discretionary · Automotive Retail · US stock · S&P 500 component
$58.83
▼ -1.79 (2.95%)
Fair valueFair
$86 +45.8% to fair value
$43fair band $51–$120$129
Day's range
$58.34 – $62.22
52-week range
$54.46 – $97.38
Red flags⚠ Heavy dilution
About Carvana Co.
Carvana is an online used car retailer. Customers browse an inventory of vehicles on its website or app, arrange financing, trade in a current car and have the purchase delivered to their home or collected from one of its automated vending-machine style towers. The company also operates inspection and reconditioning centres where cars are prepared for sale, supported by its own logistics network.
Revenue comes from retail vehicle sales, wholesale vehicle sales, and financing and related services. It was $25.1 billion over the last twelve months, with growth of 14.3% a year across the last three years. The operating margin is 8.9%, and the business earns a profit of 24% on the capital invested in it. Net debt is 1.5 times EBITDA, and no dividend is paid. On the site's X-Ray Score it receives 48 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $54.46 – $97.38Volume 8,282,431Daily, split-adjusted
Vitals
Market cap$43.5B
52-week range$54.46 – $97.38
Volume (last day)8,282,431
P/E (TTM)17.9
EBIT / EV yield4.7%
Free-cash-flow yield2.1%
Dividend yieldNo dividend
Revenue (TTM)$25.1B
Net income (TTM)$1.6B
Operating margin8.9%
Return on capital24.2%
Debt incl. leases$5.9B
Cash & securities$2.6B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$86model spread $67 – $94
Fair
+45.8% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is High, so the safety margin is 40%.
Terminal value >80% of DCF: lower confidence
Price $59
Undervalued < $51Fair $51 – $120Overvalued > $120
10-year DCF (market-scaled)
$140
Peer multiples
$43
Earnings power floor (not blended)
$-7
Fundamentals-adjusted multiple
$75
Growth the price implies
15.3%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Consumer Discretionary peers. Open a lens to see the numbers behind it.
Valuation
Weak
40/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield4.7%
Free-cash-flow yield2.1%
Fair value vs price1.5×
Growth
Strong
86/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)14.3%
Growth consistency100%
Profitability
Weak
26/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital24.2%
Operating margin8.9%
Gross profitability33.4%
Financial health
Weak
47/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA1.5×
Interest cover5.3×
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+38.3%
Mar '25
+41.9%
Jun '25
+54.5%
Sep '25
+58.0%
Dec '25
+52.0%
Mar '26
+52.4%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $7.4B.
Compare with peers
AZO Autozone Inc51 ORLY O Reilly Automotive In...47Other Automotive Retail companies by X-Ray Score.
Fundamentals checklist
● 4 Good · ● 4 Average · ● 6 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldBad
Risk models
Altman Z''Good
Piotroski F-ScoreBad
Growth
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioGood
Net debt / EBITDAAverage
Interest coverBad
Valuation
Fair value vs priceAverage
EBIT / EV yieldAverage
Profitability
Return on invested capitalAverage
Operating marginBad
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 47/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $12.8B | $13.6B | $10.8B | $13.7B | $20.3B |
| Operating income | – | −$2.4B | −$80M | $990M | $1.9B |
| Net income | −$135M | −$1.6B | $450M | $210M | $1.4B |
| Operating cash flow | −$2.6B | −$1.3B | $803M | $918M | $1.0B |
| Operating margin | – | -17.3% | -0.7% | 7.2% | 9.3% |
| Free cash flow | −$3.2B | −$1.8B | $716M | $827M | $889M |
| Diluted EPS | $-1.63 | $-15.74 | $0.75 | $1.59 | $8.45 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bearish
1 bullish · 3 neutral · 12 bearish
Weekly
Strongly bearish
1 bullish · 1 neutral · 10 bearish
Monthly
Bearish
2 bullish · 1 neutral · 5 bearish
Moving averages (daily)
| SMA 10 | 61.46 | Bearish |
| EMA 10 | 60.99 | Bearish |
| SMA 20 | 62.69 | Bearish |
| EMA 20 | 62.78 | Bearish |
| SMA 50 | 67.98 | Bearish |
| EMA 50 | 65.65 | Bearish |
| SMA 100 | 67.39 | Bearish |
| EMA 100 | 67.38 | Bearish |
| SMA 200 | 70.59 | Bearish |
| EMA 200 | 68.27 | Bearish |
Oscillators (daily)
| RSI (14) | 38.24 | Neutral |
| MACD (12, 26) | -2.27 | Bearish |
| Momentum (12) | -5.93 | Bearish |
| Stochastic %K (14) | 26.22 | Neutral |
| Williams %R (14) | -73.78 | Neutral |
| CCI (20) | -114.0 | Bullish |
Pivot points (classic, last session)
S3 53.48 | S2 55.91 | S1 57.37 | Pivot 59.80 | R1 61.26 | R2 63.68 | R3 65.15 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
CVNA SEC filings
14 Aug 2026
8-KSEC EDGAR
Entered a material agreement
29 Jul 2026
10-QSEC EDGAR
Quarterly report
29 Jul 2026
8-KSEC EDGAR
Results of operations
6 May 2026
8-KSEC EDGAR
Director or officer change; Shareholder vote results
29 Apr 2026
10-QSEC EDGAR
Quarterly report
29 Apr 2026
8-KSEC EDGAR
Results of operations
25 Mar 2026
DEF 14ASEC EDGAR
Proxy statement
18 Feb 2026
10-KSEC EDGAR
Annual report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.