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Screener / SEC EDGAR /CIK 0001690820 /10-K filed Feb 18, 2026, compared with Feb 19, 2025 /Numbers from the XBRL of the 10-Ks
Consumer discretionary peers:
GPCBKNGCVNACCLMARMCD
NYSE Consumer discretionary · Auto Dealers

Carvana CVNA

CVNA quote by TradingView

Carvana Co. is a holding company that was formed as a Delaware corporation in 2016 in order to operate the business of Carvana Group, LLC and its subsidiaries (collectively, "Carvana Group"). 10-K, Item 1

Employees
23,100
Headquarters
Tempe, AZ
CEO
Ernest C. Garcia III
Next results
around Feb 17, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $20.3B through the costs to a net profit of $1.4B · income statement of the 10-K

9% operating margin
Revenue to Gross profit: $4.2BRevenue to Cost of revenue: $16.1BGross profit to Operating profit: $1.9BGross profit to Operating expenses: $2.3BOperating profit to Net profit: $1.4BOperating profit to Interest, tax, other: $474.0M Revenue: $20.3B REVENUE $20.3B +49% Y/Y Gross profit: $4.2B · 21% margin GROSS PROFIT $4.2B 21% margin · +46% Y/Y Cost of revenue: $16.1B · 79% of revenue COST OF REVENUE $16.1B 79% of revenue Operating profit: $1.9B · 9% margin OPERATING PROFIT $1.9B 9% margin · +90% Y/Y Operating expenses: $2.3B · 11% of revenue OPERATING EXPENSES $2.3B 11% of revenue Net profit: $1.4B · 7% margin NET PROFIT $1.4B 7% margin · +570% Y/Y Interest, tax, other: $474.0M · 2% of revenue INTEREST, TAX, OTHER $474.0M 2% of revenue
Gross profit $4.2B 21% margin · +46% Y/Y
Operating profit $1.9B 9% margin · +90% Y/Y
Net profit $1.4B 7% margin · +570% Y/Y
The full income statement, year by year

CVNA among Consumer discretionary peers

Six ratios from the latest 10-K. Each corner is the share of 46 peers the company is above, not a score.

Compare
Revenue growth: 48.6%, above 100% of 46 peers (their median 5.2%) REVENUE GROWTH 48.6% · above 100% Gross margin: 19.0%, above 7% of 30 peers (their median 42.2%) GROSS MARGIN 19.0% · above 7% Operating margin: 8.7%, above 21% of 39 peers (their median 16.0%) OPERATING MARGIN 8.7% · above 21% Net margin: 6.2%, above 24% of 46 peers (their median 11.0%) NET MARGIN 6.2% · above 24% FCF margin: 4.1%, above 18% of 44 peers (their median 9.5%) FCF MARGIN 4.1% · above 18%
CVNA Peer median Below the median

What changed

9 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 18, 2026 against Feb 19, 2025.

Risk factors
9 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Cash from operations lower than net income
Cash from operations $1.0B vs net income $1.4B (FY ending Dec 31, 2025)
10-K · XBRL
Accounting checks
9 other checks clear, 1 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 9 checks found nothing to note

  • Cash from operations lower than net income
    Cash from operations $1.0B vs net income $1.4B (FY ending Dec 31, 2025)
  • Receivables -19.1% vs revenue +48.6% (-67.8 pts)
8 more checks with nothing to note
  • Inventory +49.8% vs revenue +48.6% (+1.1 pts)
  • Same auditor in both 10-Ks: GRANT THORNTON LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

9 paragraphs in Risk Factors that were not in the 10-K filed Feb 19, 2025. Quoted as filed.

All 9 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    Our use of artificial intelligence may not perform as expected and could expose us to technological, operational, legal, and reputational risks that could adversely affect our business, financial condition, and results of operations We increasingly develop and deploy AI technology through third party generative AI platforms and internal…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    We also rely on third‑party service providers and vendors that process information on our behalf. We have limited ability to control their security and privacy practices, and contractual protections and due diligence may not prevent all incidents. A security incident at a third party could have similar adverse effects on us as an…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    In June 2025, we received a subpoena from the SEC requesting information that we believe primarily relates to allegations raised by a report published by a now-defunct short-selling firm. We currently cannot predict the outcome of this matter. For more information, see Item 3. Legal Proceedings.

New risk paragraphs, against peers

Latest 10-K of each, Consumer discretionary companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$13.6B$10.8B$13.7B$20.3B
Net income−$1.6B$450.0M$210.0M$1.4B
Operating cash flow−$1.3B$803.0M$918.0M$1.0B
Free cash flow−$1.8B$716.0M$827.0M$889.0M

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$20.3B ▲ 48.6% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Carvana, Tempe, AZ · from the 10-K filed Feb 18, 2026

Carvana Co. is a holding company that was formed as a Delaware corporation in 2016 in order to operate the business of Carvana Group, LLC and its subsidiaries (collectively, "Carvana Group"). Carvana Co. Class A common stock trades on the New York Stock Exchange ("NYSE") under the symbol "CVNA." Carvana is the leading e-commerce platform for buying and selling used cars. We are transforming the used car buying and selling experience by giving consumers what they want - a wide selection, great value and quality, transparent pricing, and a simple, no pressure transaction.

Headquarters
Tempe, AZ
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 28, 2026
Incorporated in
DE

Employees, at the top of the page: "As of December 31, 2025, we had over 23,100 full-time and part-time employees" (10-K). Address and exchange: SEC's company file.

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Sources

The 10-K filed Feb 18, 2026 (open at SEC), compared with the 10-K filed Feb 19, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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