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Carvana CVNA Operating margin

Operating margin at other companies

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AutoNationAN
4.4%-0.4pp
Copart logo
CopartCPRT
36.6%+0.8pp
Penske Automotive Group logo
Penske Automotive GroupPAG
4%-0.3pp
LAD
Lithia MotorsLAD
4.1%-0.4pp
CarGurus, Inc. logo
CarGurus, Inc.CARG
28.6%-10.9pp
Group 1 Automotive logo
Group 1 AutomotiveGPI
3.3%-1.0pp

Other financials

Income statement

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Revenue$7.4B+52.4%
Gross profit$1.4B+30.1%
Operating income$680.0M+33.1%
Net income$310.0M+69.4%
EPS (diluted)$0.42+61.5%

Balance sheet

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Cash & equivalents$2.7B+42.1%
Total debt$5.8B-8.2%
Total equity$4.0B+133%
Total assets$14.6B+55.4%

Cash flow

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Operating cash flow$238.0M+721%
CapEx$51.0M+64.5%
Free cash flow$187.0M

Valuation

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Market cap$76.39B+55.9%
Enterprise value$79.4B+48.9%
P/E48.7×-38.3×
P/S3.1×0.0×

Profitability

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Gross margin19.4%-2.5pp
Net margin6.3%+2.8pp
FCF margin3.7%-0.1pp

Returns & leverage

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Return on equity54.5%+4.6pp
Debt / equity1.4×-2.2×
Current ratio3.9×-0.1×

Where this comes from

Calculated from Carvana’s reported figures.

Based on trailing twelve months.

The source filing: Carvana’s 10-Q, filed July 29, 2026. Open the filing →

Filed
Jul 29, 2026, 4:11 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001690820-26-000055

FAQ

What is Carvana's operating margin?
Carvana (CVNA) reported operating margin of 8.9% in Q2 2026.
How has Carvana's operating margin changed year-over-year?
Carvana's operating margin decreased by 3.3% year-over-year, from 9.2% to 8.9%.
What is the long-term trend for Carvana's operating margin?
Over 3 years (2022 to 2025), Carvana's operating margin has grown at a -18.8% compound annual growth rate (CAGR), from -17.3% to 9.3%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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