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Carvana Income Statement

Revenue, expenses, and profitability over time

Carvana generated $22.5B in trailing twelve-month revenue, up 0.5% year-over-year. Net income was $1.4B with a 6.4% net margin. Gross margin stands at 20.13% and operating margin at 9.18%. Based on the Q1 2026 filing.

Total Revenue (TTM)$22.5BGross Profit (TTM)$4.5BOperating Income (TTM)$2.1BNet Income (TTM)$1.4BEps Diluted (TTM)$8.45
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$48.6B
P/E Ratio33.71
ROE55.17%

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share—$2.56$2.56$2.56$2.56—
Diluted earnings per share—$2.11$2.11$2.11$2.11—
Weighted-average shares, basic122.3M———137.6M—
Weighted-average shares, diluted132.2M———224.3M—

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gain (loss) on extinguishment of debt-$6M-$2M$0-$14M$0$0
Interest expense$148M$139M$143M$125M$98M$99M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$763M$929M$1.1B$1.1B$1.1B$1.3B
Operating income$260M$394M$511M$552M$424M$581M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense-$3M$2M$0-$4M-$2.8B$36M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$79M$216M$183M$151M$857M$250M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other income, net (Note 6)$50M$122M-$60M-$154M-$2.2B-$41M
Other income, net-$9M$0-$2M-$1M$0$0
Revenue From Contract With Customer Excluding Assessed Tax$3.5B$4.2B$4.8B$5.6B$5.6B$6.4B

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Selling, general and administrative$494M$535M$551M$595M$627M$690M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$2.8B$3.3B$3.8B$4.5B$4.6B$5.2B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$3.5B$4.2B$4.8B$5.6B$5.6B$6.4B