CVNACarvana

Consumer discretionary · Auto Dealers · NYSE

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

RevenueFY2016–25 $20.3B+48.6% Highest in 10 years 10-K FY2025 · XBRL Net incomeFY2016–25 $1.4B+570.0% Highest in 10 years 10-K FY2025 · XBRL Free cash flowFY2016–25 $889.0M+7.5% Highest in 10 years 10-K FY2025 · XBRL Operating marginFY2016–25 9.3%+2.0 pts -17.3% in FY2022 10-K FY2025 · XBRL

What changed

10-K filed Feb 18, 2026 against Feb 19, 2025

Area	What changed	Source
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 2025-12-31)	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.

What's new, in their words

10-K filed Feb 18, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-19. Quoted as filed.

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…
10-K, Item 1A

All 9 new paragraphs →

Accounting checks

latest 10-K

9 of 10 clear 1 worth a look. Checks, not verdicts.

!
Cash from operations lower than net incomeCash from operations $1.0B vs net income $1.4B (FY ending 2025-12-31)
✓
Receivables -19.1% vs revenue +48.6% (-67.8 pts)
✓
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

How each check works, with sources →

In the last 30 days

All filings →

Oct 28, 20268-K Quarterly results 8-K item 2.02
Oct 28, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026

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