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Carvana CVNA Free cash flow margin

Free cash flow margin at other companies

Copart logo
CopartCPRT
28.9%+3.1pp
Rivian Automotive, Inc. logo
Rivian Automotive, Inc.RIVN
-55%
Ford Motor Company logo
Ford Motor CompanyF
5%-0.1pp
Casey's General Stores logo
Casey's General StoresCASY
3.9%+0.6pp
S&P Global logo
S&P GlobalSPGI
35.3%-3.0pp
Caterpillar logo
CaterpillarCAT
13.4%-0.9pp

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 trailing twelve months.

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 free cash flow margin?
Carvana (CVNA) reported free cash flow margin of 3.3% in Q1 2026.
How has Carvana's free cash flow margin changed year-over-year?
Carvana's free cash flow margin decreased by 48.5% year-over-year, from 6.4% to 3.3%.
What is the long-term trend for Carvana's free cash flow margin?
Over 2 years (2021 to 2025), Carvana's free cash flow margin has grown at a -54.5% compound annual growth rate (CAGR), from -85% to 17.6%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.