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Carvana CVNA Debt-to-assets

Debt-to-assets at other companies

Copart logo
CopartCPRT
0.0×
Rivian Automotive, Inc. logo
Rivian Automotive, Inc.RIVN
0.4×+0.1×
Ford Motor Company logo
Ford Motor CompanyF
0.0×
Casey's General Stores logo
Casey's General StoresCASY
0.3×0.0×
S&P Global logo
S&P GlobalSPGI
0.2×0.0×
Caterpillar logo
CaterpillarCAT
0.4×0.0×

Other financials

Income statement

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Revenue$6.4B+52.0%
Gross profit$1.3B+36.8%
Operating income$581.0M+47.5%
Net income$250.0M+15.7%

Balance sheet

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Cash & equivalents$2.5B+31.9%
Total debt$5.7B-8.4%
Total equity$3.7B+147%
Total assets$13.8B+55.1%

Cash flow

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Operating cash flow$107.0M-53.9%
CapEx$51.0M+88.9%
Free cash flow$56.0M-72.7%

Valuation

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Market cap$47.68B+60.0%
Enterprise value$50.85B+48.6%
P/E33.1×-41.8×
P/S2.1×+0.1×

Profitability

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Gross margin20.1%-1.5pp
Operating margin9.2%+0.8pp
Net margin6.4%+3.7pp

Returns & leverage

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Return on equity55.2%+10.8pp
Debt / equity1.5×-2.6×
Current ratio4.1×+0.3×

Where this comes from

Calculated from Carvana’s reported figures.

Based on the most recent quarter.

The official record: Carvana’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Carvana's debt-to-assets?
Carvana (CVNA) reported debt-to-assets of 0.4× in Q1 2026.
How has Carvana's debt-to-assets changed year-over-year?
Carvana's debt-to-assets decreased by 40.9% year-over-year, from 0.7× to 0.4×.
What is the long-term trend for Carvana's debt-to-assets?
Over 4 years (2021 to 2025), Carvana's debt-to-assets has grown at a -3.6% compound annual growth rate (CAGR), from 2.8× to 2.4×.
What does debt-to-assets mean?
What fraction of everything the company owns is funded by debt.
How do you interpret debt-to-assets?
A lower ratio indicates a more conservatively financed balance sheet. Rising debt-to-assets over time signals increasing financial risk.
How does debt-to-assets compare across companies?
Comparable within an industry; bounded between 0 and 1 for most non-financials, which makes cross-company reads cleaner than debt-to-equity.