What is Carvana's operating income?

Carvana (CVNA) reported operating income of $581M in Q1 2026.

How has Carvana's operating income changed year-over-year?

Carvana's operating income increased by 47.5% year-over-year, from $394M to $581M.

What is the long-term trend for Carvana's operating income?

Over 3 years (2022 to 2025), Carvana's operating income has grown at a -7.2% compound annual growth rate (CAGR), from -$2.35B to $1.88B.

What does operating income mean?

Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

Carvana CVNA Operating Income

Operating Income at other companies

AutoNationAN

$314.3M-6.5%

CopartCPRT

$464.28M+2.8%

Penske Automotive GroupPAG

$289M-12.3%

LAD

Lithia MotorsLAD

$335.8M-17.4%

CarGurus, Inc.CARG

$40.08M-20.9%

Group 1 AutomotiveGPI

$242.6M+3.7%

Segments

By segment

See full

Reportable Segment$581M+47.5%

Other financials

Income statement

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Revenue$6.4B+52.0%

Gross profit$1.3B+36.8%

Net income$250.0M+15.7%

EPS (diluted)$2.11—

Balance sheet

See full

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

See full

Operating cash flow$107.0M-53.9%

CapEx$51.0M+88.9%

Free cash flow$56.0M-72.7%

Valuation

See full

Market cap$47.42B+9.8%

Enterprise value$50.59B+6.5%

P/E32.9×-75.6×

P/S2.1×-0.8×

Profitability

See full

Gross margin20.1%-1.5pp

Operating margin9.2%+0.8pp

Net margin6.4%+3.7pp

FCF margin3.3%-3.1pp

Returns & leverage

See full

Return on equity55.2%+10.8pp

Debt / equity1.5×-2.6×

Current ratio4.1×+0.3×

Where this comes from

Reported directly by Carvana in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

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 operating income?: Carvana (CVNA) reported operating income of $581M in Q1 2026.
How has Carvana's operating income changed year-over-year?: Carvana's operating income increased by 47.5% year-over-year, from $394M to $581M.
What is the long-term trend for Carvana's operating income?: Over 3 years (2022 to 2025), Carvana's operating income has grown at a -7.2% compound annual growth rate (CAGR), from -$2.35B to $1.88B.
What does operating income mean?: Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.