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Carvana CVNA Return on invested capital

Return on invested capital at other companies

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26.6%+11.0pp
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21.9%-0.2pp
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Penske Automotive GroupPAG
9.2%-2.1pp
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15.7%-1.5pp
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CarGurus, Inc.CARG
58.7%-3.9pp
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Group 1 AutomotiveGPI
8.4%-3.0pp

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
Operating margin8.9%-0.3pp
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 return on invested capital?
Carvana (CVNA) reported return on invested capital of 34.2% in Q2 2026.
How has Carvana's return on invested capital changed year-over-year?
Carvana's return on invested capital increased by 40.3% year-over-year, from 24.3% to 34.2%.
What is the long-term trend for Carvana's return on invested capital?
Over 3 years (2022 to 2025), Carvana's return on invested capital has grown at a -4.2% compound annual growth rate (CAGR), from -34.5% to 30.3%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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