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Carvana CVNA Q1 2025 earnings

Reported May 7, 2025 · After market close

Revenue$4.2BBeat by $233.1M
EPS$1.51Beat by $0.78
Revenue estimate$4.0B
EPS estimate$0.73

Next report

Oct 28, 2026 (In 3 weeks)
Revenue estimate$7.6B
EPS estimate$0.44

Financials

Q1 2025

Income statement

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Revenue$4.2B+38.3%
Gross profit$929.0M+57.2%
Operating income$394.0M+194%
Net income$216.0M+671%

Balance sheet

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Cash & equivalents$1.9B+482%
Total debt$6.2B-6.9%
Total equity$1.5B+420%
Total assets$8.9B+27.1%

Cash flow

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Operating cash flow$232.0M+130%
CapEx$27.0M+50.0%
Free cash flow$205.0M+147%

Valuation & ratios

Valuation

as of 03/31/25
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Market cap$28.09B+175%
Enterprise value$32.39B+95.6%
P/E70.6×—
P/S1.9×+1.0×

Profitability

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Gross margin21.7%+4.1pp
Operating margin8.4%+6.8pp
Net margin2.7%—
FCF margin6.4%—

Returns & leverage

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Return on equity44.4%—
Debt / equity4.1×-18.9×
Current ratio3.8×+1.3×

Segments

By product

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Used vehicle sales, net$3.0B+37.0%
Wholesale sales and revenues$863.0M+31.4%

By segment

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Reportable Segment$4.2B+38.3%

FAQ

When did Carvana report Q1 2025 earnings?
Carvana (CVNA) reported Q1 2025 earnings on May 7, 2025 after market close.
What were Carvana's Q1 2025 revenue and EPS?
Carvana reported revenue of $4.2B and eps of $1.51 for Q1 2025.
Did Carvana beat estimates in Q1 2025?
Revenue beat the consensus estimate of $4.0B by $233.1M. EPS beat the consensus estimate of $0.73 by $0.78.
How did Carvana's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 38.3% from $3.1B a year earlier.
Where can I find Carvana's Q1 2025 SEC filings?
You can read the 8-K earnings release (0001690820-25-000156) and the 10-Q periodic report (0001690820-25-000161) directly on SEC EDGAR. The filing index links above go to sec.gov.