CVNA
Carvana Co.
CVNA's fundamentals are strong and it looks cheap: trading at 34x earnings, less than half its usual 83x. Analysts expect strong earnings growth, though they disagree widely on how much.
CVNA Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Weak |
CVNA's revenue, profitability and cash flow are currently healthy, but its balance sheet is weak.
CVNA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 34x | $70.84 | — |
| Forward | 35x | $70.84 | — |
| Cheap | 36x | $75.86 | +7.1% |
| Fair | 83x | $173 | +144% |
| Expensive | 113x | $235 | +231% |
Historical ranges are pointers, not guarantees.
CVNA's PE is in its cheap range at 34x. On analysts' estimates for next year's earnings, today's price would be 35x.
CVNA Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for CVNA, with profitability holding steady. However, they disagree widely on these estimates.
CVNA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.05 | -1.4% |
| Q3 2026 | $2.08 | +136% |
| Q2 2026 | $1.89 | +136% |
| Q1 2026 | $1.73 | +204% |
| Q4 2025 | $1.69 | +428% |
| Q3 2023 | -$1.22 | +$0.57 |
| Q2 2023 | -$2.51 | -$1.18 |
| Q1 2023 | -$2.87 | -$2.06 |
| Q4 2022 | -$3.15 | -$2.82 |
CVNA's earnings per share have climbed steadily: $2.08 over the past year, up 136% from the year before, and higher year over year for nine quarters in a row.
CVNA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $8B | +42% |
| Q2 2026 | $7.4B | +52% |
| Q1 2026 | $6.4B | +52% |
| Q4 2025 | $5.6B | +58% |
| Q3 2025 | $5.6B | +55% |
| Q2 2025 | $4.8B | +42% |
| Q1 2025 | $4.2B | +38% |
| Q4 2024 | $3.5B | +46% |
CVNA's revenue has grown year over year for 11 quarters in a row: $8B last quarter, up 42% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.9% | -0.9 points |
| Q2 2026 | 9.2% | -1.4 points |
| Q1 2026 | 9% | -0.3 points |
| Q4 2025 | 7.6% | +0.2 points |
| Q3 2025 | 9.8% | +0.5 points |
| Q2 2025 | 11% | +3 points |
| Q1 2025 | 9.3% | +4.9 points |
| Q4 2024 | 7.3% | N/A |
CVNA's operating margin was 8.9% last quarter, down 0.9 points from the same quarter a year ago.
CVNA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $491M | +60% |
| Q2 2026 | $187M | +$189M |
| Q1 2026 | $56M | -73% |
| Q4 2025 | $379M | +953% |
| Q3 2025 | $307M | -18% |
| Q2 2025 | -$2M | -101% |
| Q1 2025 | $205M | +147% |
| Q4 2024 | $36M | +$293M |
CVNA generated $1.1B in free cash flow over the past year, up 104% from the year before.
CVNA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -50K shares |
| 1 year | +3.3% | +23.8M shares |
| 3 years | +40% | +211M shares |
| 5 years | +123% | +408M shares |
CVNA has 740M diluted shares, up 3.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2026 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q3 2024 | $2M |
| Q2 2024 | — |
| Q1 2024 | — |
| Q3 2023 | — |
CVNA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2021 | 186.0x | High |
| Q2 2021 | 128.9x | High |
CVNA's net debt is more than 20 years of its operating earnings (EBITDA).
CVNA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.9 | Neutral |
| Stochastic | 67.9 | Neutral |
CVNA's weekly RSI is 53 (neutral) and its Stochastic is 68 (neutral).
CVNA PE vs Consumer Cyclical Sector
| Metric | CVNA | Sector median | Relative |
|---|---|---|---|
| PE | 34x | 18x | 89% above |
| PE % | 8 | 47 | 39 pts below |
CVNA is trading at 34x earnings, a 89% premium to the Consumer Cyclical sector's median of 18x.
CVNA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $65.2 | 8.6% above |
| 20 week MA | $67.3 | 5.3% above |
| 50 week MA | $71.3 | 0.7% below |
| 100 week MA | $64.7 | 9.5% above |
| 200 week MA | $40.2 | 76% above |
CVNA's trend is mixed: it's above four of its five weekly moving averages, and 76% above its 200-week average.
CVNA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $19.6 | $54.9 | +181% |
| 2021 | $54.9 | $48.2 | -12% |
| 2022 | $48.2 | $0.81 | -98% |
| 2023 | $0.81 | $10.6 | +1207% |
| 2024 | $10.6 | $43.0 | +306% |
| 2025 | $43.0 | $87.7 | +104% |
| 2026 YTD | $87.7 | $70.8 | -19% |
CVNA's yearly returns have swung widely, from +1207% in 2023 to −98% in 2022. It's down 19% so far in 2026.