← CARVANA CO.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | ($93.1m) |
($62.8m)
+32.51%
|
($61.8m)
+1.73%
|
($114.7m)
-85.67%
|
($171.1m)
-49.26%
|
($135.0m)
+21.12%
|
($1.6b)
-1075.56%
|
$450.0m
+128.36%
|
$210.0m
-53.33%
|
$1.4b
+570.00%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($93.1m) |
($64.5m)
+30.74%
|
($67.3m)
-4.42%
|
($114.7m)
-70.27%
|
($171.1m)
-49.26%
|
($135.0m)
+21.12%
|
($1.6b)
-1075.56%
|
$450.0m
+128.36%
|
$210.0m
-53.33%
|
$1.4b
+570.00%
|
— | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $0 | ($101.5m) | ($193.0m) | ($250.0m) | ($291.1m) | ($152.0m) | ($1.3b) | ($300.0m) | $194.0m | $488.0m | — | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($93.1m) | ($164.3m) | ($254.7m) | ($364.6m) | ($462.2m) | ($287.0m) | ($2.9b) | $150.0m | $404.0m | $1.9b | — | |
| Amortization of Debt Issuance Costs | $0 | $1.6m | $2.3m | — | — | — | $27.0m | $24.0m | $15.0m | $10.0m | — | |
| Amortization of Intangible Assets | — | — | $1.1m | $1.6m | $1.6m | $2.0m | $16.0m | $17.0m | $18.0m | $14.0m | — | |
| Depreciation and amortization expense | $4.7m | $11.6m | $23.5m | $41.3m | $73.8m | $105.0m | $261.0m | $352.0m | $305.0m | $275.0m | $272.0m | |
| Deferred income taxes | — | — | — | — | — | — | — | ($4.0m) | $2.0m | ($2.8b) | ($2.7b) | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $0 | $704k | $2.5m | $5.8m | $23.1m | $40.0m | $8.0m | $15.0m | $19.0m | $30.0m | — | |
| Share-based Payment Arrangement, Expense | $555k | $5.6m | $20.3m | $28.6m | $24.8m | $39.0m | $69.0m | $73.0m | $91.0m | $96.0m | $97.0m | |
| Share-based Payment Arrangement, Expensed and Capitalized, Amount | — | — | $25.7m | $35.7m | $30.6m | $47.0m | $93.0m | $81.0m | $102.0m | $107.0m | $97.0m | |
| Share-based Payment Arrangement, Noncash Expense | $555k | $5.6m | $24.1m | $33.1m | $25.1m | $39.0m | $69.0m | $73.0m | $91.0m | $96.0m | $97.0m | |
| Goodwill, Impairment Loss | — | — | $0 | $0 | $0 | $0 | $847.0m | $0 | $0 | $0 | $0 | |
| Impairment of Intangible Assets, Finite-lived | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | — | — | — | — | — | — | — | — | — | $0 | — | |
| Other Nonoperating Income (Expense) | ($46k) | ($1.3m) | ($1.2m) | ($3.7m) | $1.4m | ($6.0m) | ($70.0m) | $1.0m | $73.0m | ($2.2b) | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Accounts Receivable, Credit Loss Expense (Reversal) | $1.3m | $1.4m | $1.9m | $11.9m | $21.0m | $28.0m | $23.0m | $38.0m | $27.0m | $15.0m | ($66.0m) | |
| Accounts receivable | ($3.5m) | ($8.7m) | ($19.2m) | ($9.7m) | ($43.0m) | ($148.0m) | $145.0m | ($22.0m) | ($47.0m) | $49.0m | ($66.0m) | |
| Increase (Decrease) in Accounts Receivable | $3.5m | $8.7m | $19.2m | $9.7m | $43.0m | $148.0m | ($145.0m) | $22.0m | $47.0m | ($49.0m) | ($66.0m) | |
| Originations of finance receivables | ($224.2m) | ($529.2m) | ($1.3b) | ($2.6b) | ($3.6b) | ($7.3b) | ($7.2b) | ($6.0b) | ($8.3b) | ($12.8b) | — | |
| Principal payments received on finance receivables held for sale | — | $0 | $0 | $85.0m | $90.2m | $206.0m | $190.0m | $186.0m | $188.0m | $241.0m | — | |
| Proceeds from sale of finance receivables, net | — | $527.3m | $1.6b | $2.6b | $3.6b | $7.4b | $6.3b | $6.6b | $8.8b | $13.3b | — | |
| Increase (Decrease) in Inventories | $117.5m | $40.8m | $183.1m | $344.9m | $263.3m | $2.1b | ($1.4b) | ($711.0m) | $455.0m | $734.0m | ($1.2b) | |
| Vehicle inventory | ($117.5m) | ($40.8m) | ($183.1m) | ($344.9m) | ($263.3m) | ($2.1b) | $1.4b | $711.0m | ($455.0m) | ($734.0m) | — | |
| Accounts payable and accrued liabilities | $17.9m | $17.0m | $66.5m | $97.9m | $94.2m | $247.0m | ($46.0m) | ($166.0m) | $260.0m | $235.0m | — | |
| Accrued capital expenditures | $39.5m | $78.5m | $143.7m | $230.5m | $359.8m | $557.0m | $512.0m | $87.0m | $91.0m | $147.0m | — | |
| Increase (Decrease) in Other Operating Liabilities | $0 | $7.1m | ($853k) | ($418k) | ($397k) | — | ($13.0m) | ($8.0m) | $45.0m | ($21.0m) | — | |
| Other assets | $0 | ($1.0m) | ($5.0m) | ($32.6m) | ($26.4m) | ($105.0m) | ($83.0m) | $39.0m | $15.0m | ($4.0m) | — | |
| Other liabilities | $0 | $7.1m | ($853k) | ($418k) | ($397k) | $0 | ($13.0m) | ($8.0m) | $45.0m | ($21.0m) | — | |
| Other Operating Income (Expense), Net | — | — | — | — | — | — | — | — | ($12.0m) | ($3.0m) | — | |
| Net Cash Provided by (Used in) Operating Activities | ($240.2m) |
($199.9m)
+16.78%
|
($414.3m)
-107.25%
|
($757.1m)
-82.73%
|
($608.4m)
+19.64%
|
($2.6b)
-326.36%
|
($1.3b)
+48.96%
|
$803.0m
+160.65%
|
$918.0m
+14.32%
|
$1.0b
+12.85%
|
$1.1b
+8.11%
|
|
| Cash flows from investing activities: | ||||||||||||
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $0 | ($958k) | ($575k) | ($1.7m) | ($6.1m) | ($1.0m) | ($14.0m) | ($8.0m) | ($12.0m) | ($3.0m) | $247.0m | |
| Payments to Acquire Property, Plant, and Equipment | $39.5m | $78.5m | $143.7m | $230.5m | $359.8m | $557.0m | $512.0m | $87.0m | $91.0m | $147.0m | ($191.0m) | |
| Payments for acquisitions, net of cash acquired | — | — | — | — | — | $0 | ($2.2b) | ($7.0m) | $0 | ($160.0m) | — | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | — | — | — | $0 | — | $7.0m | $0 | $160.0m | ($176.0m) | |
| Net cash (used in) provided by investing activities | ($47.7m) | ($82.7m) | ($150.3m) | ($227.7m) | ($345.9m) | ($627.0m) | ($2.6b) | $31.0m | ($13.0m) | ($230.0m) | — | |
| Net Cash Provided by (Used in) Investing Activities | ($47.7m) | ($82.7m) | ($150.3m) | ($227.7m) | ($345.9m) | ($627.0m) | ($2.6b) | $31.0m | ($13.0m) | ($230.0m) | ($259.0m) | |
| Cash flows from financing activities: | ||||||||||||
| Gain (Loss) on Extinguishment of Debt | — | — | $0 | $0 | ($33.7m) | $0 | $0 | $878.0m | ($12.0m) | ($16.0m) | — | |
| Loss (Gain) on debt extinguishment | — | — | $0 | $0 | $33.7m | $0 | $0 | ($878.0m) | $12.0m | $16.0m | — | |
| Payments of debt issuance costs | ($728k) | ($2.1m) | ($11.4m) | ($11.4m) | ($29.4m) | ($24.0m) | ($75.0m) | ($69.0m) | ($4.0m) | ($17.0m) | — | |
| Payments on long-term debt | ($284k) | ($2.3m) | ($35.5m) | ($15.7m) | ($653.6m) | ($73.0m) | ($165.0m) | ($503.0m) | ($577.0m) | ($820.0m) | — | |
| Proceeds from Issuance of Long-term Debt | $0 | $32.7m | $49.1m | $481.8m | $1.3b | $1.6b | $3.4b | $132.0m | $191.0m | $175.0m | $204.0m | |
| Provision for bad debt and valuation allowance | $1.3m | $1.4m | $1.9m | $11.9m | $21.0m | $28.0m | $23.0m | $38.0m | $27.0m | $15.0m | — | |
| Net proceeds from issuance of Class A common stock and LLC Units | — | — | — | — | — | $0 | $1.2b | $453.0m | $1.3b | $536.0m | — | |
| Proceeds from Issuance of Common Stock | — | — | — | — | — | $0 | $1.2b | $453.0m | $1.3b | $536.0m | $917.0m | |
| Unrealized loss (gain) on warrants to acquire common stock | — | — | — | $0 | $0 | $24.0m | $80.0m | ($3.0m) | ($115.0m) | $64.0m | — | |
| Dividends Payable | $0 | $413k | $0 | $0 | — | — | — | — | — | — | — | |
| Dividends paid | $0 | $0 | $4.6m | — | — | — | — | — | — | — | — | |
| Payments of Dividends | $0 | $0 | $4.6m | — | — | — | — | — | — | — | — | |
| Net cash (used in) provided by financing activities | $284.0m |
$416.1m
+46.53%
|
$466.3m
+12.06%
|
$1.0b
+117.61%
|
$1.2b
+14.82%
|
$3.5b
+202.84%
|
$3.9b
+10.52%
|
($868.0m)
-122.26%
|
$261.0m
+130.07%
|
($137.0m)
-152.49%
|
— | |
| Net Cash Provided by (Used in) Financing Activities | $284.0m |
$416.1m
+46.53%
|
$466.3m
+12.06%
|
$1.0b
+117.61%
|
$1.2b
+14.82%
|
$3.5b
+202.84%
|
$3.9b
+10.52%
|
($868.0m)
-122.26%
|
$261.0m
+130.07%
|
($137.0m)
-152.49%
|
($48.0m)
+64.96%
|
|
| Net increase (decrease) in cash, cash equivalents, and restricted cash | $4.2m | $137.7m | ($98.4m) | $29.8m | $210.7m | $307.0m | ($8.0m) | ($34.0m) | $1.2b | $669.0m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $4.2m | $137.7m | ($98.4m) | $29.8m | $210.7m | $307.0m | ($8.0m) | ($34.0m) | $1.2b | $669.0m | $2.7b | |
| Cash, cash equivalents, and restricted cash at beginning of period | $49.5m | $187.1m | $88.7m | $118.5m | $329.1m | $636.0m | $628.0m | $594.0m | $1.8b | $2.4b | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $4.2m | $137.7m | $88.7m | $118.5m | $329.1m | $636.0m | $628.0m | $594.0m | $1.8b | $2.4b | $2.7b | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Additional Financial Items | ||||||||||||
| Equity-based compensation expense | $555k | $5.6m | $24.1m | $33.1m | $25.1m | $39.0m | $69.0m | $73.0m | $91.0m | $96.0m | — | |
| Gain on loan sales | ($7.4m) | ($21.7m) | ($51.7m) | ($137.3m) | ($217.6m) | ($717.0m) | ($411.0m) | ($434.0m) | ($755.0m) | ($1.2b) | — | |
| Goodwill | — | — | $9.4m | $9.4m | $9.4m | $9.0m | $0 | — | — | $10.0m | $0 | |
| Income Tax Expense (Benefit) | $0 | $0 | $0 | $0 | ($255k) | $1.0m | $1.0m | $25.0m | ($4.0m) | ($2.8b) | — | |
| Income Taxes Paid, Net | — | — | — | — | — | — | — | — | — | $6.0m | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $651.0m | $505.0m | — | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | $74.1m | $94.8m | $152.0m | $423.0m | $538.0m | $115.0m | $336.0m | — | |
| Operating Lease, Lease Income | — | — | — | — | — | — | — | — | — | $9.0m | — | |
| Operating lease liabilities | — | — | — | $45.2m | $38.1m | $223.0m | $15.0m | ($71.0m) | ($10.0m) | ($2.0m) | — | |
| Operating lease right-of-use assets | — | — | — | ($46.9m) | ($32.0m) | ($213.0m) | $21.0m | $81.0m | $15.0m | ($3.0m) | — | |
| Payment-in-kind interest expense | — | — | — | — | — | $0 | $0 | $184.0m | $458.0m | $182.0m | — | |
| Payments of tax made on behalf of non-controlling members | — | — | — | — | — | — | — | $0 | $0 | ($4.0m) | — | |
| Payments on short-term revolving facilities | ($287.6m) | ($865.7m) | ($1.9b) | ($4.2b) | ($5.0b) | ($12.6b) | ($13.5b) | ($7.6b) | ($3.7b) | ($4.0b) | — | |
| Principal payments received on and proceeds from sale of beneficial interests | — | — | — | $3.0m | $14.0m | $56.0m | $81.0m | $53.0m | $67.0m | $75.0m | — | |
| Proceeds from Stock Options Exercised | $0 | $48k | $795k | $1.7m | $5.4m | — | — | — | — | — | — | |
| Proceeds from equity-based compensation plans | — | — | — | $2.0m | $5.0m | $2.0m | $4.0m | $0 | $7.0m | $48.0m | — | |
| Proceeds from short-term revolving facilities | $410.6m | $949.1m | $1.8b | $4.5b | $4.4b | $14.6b | $13.0b | $6.7b | $3.1b | $4.0b | — | |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Tax receivable agreement expense | — | — | — | — | — | — | — | $14.0m | $67.0m | $2.2b | — | |
| Tax receivable agreement payments | — | — | — | — | — | — | — | $0 | $0 | ($17.0m) | — | |
| Tax withholdings related to restricted stock units | $0 | ($704k) | ($2.5m) | ($5.8m) | ($23.1m) | ($40.0m) | ($8.0m) | ($15.0m) | ($19.0m) | ($30.0m) | — | |
| Unrealized gain on beneficial interests in securitizations | — | $0 | $0 | $964k | ($8.8m) | ($7.0m) | ($6.0m) | ($14.0m) | ($23.0m) | ($12.0m) | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.