Carvana Co.

Consumer Discretionary
Retail-Auto Dealers and Gas Stations
www.carvana.com

Earnings Score
Moat Score
Safety Score

Market Cap $31.82B
PE 152
Debt $5.61B
Cash $1.76B
EV $35.67B
FCF $827.00M

Earnings

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Sales & Net Margins

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Earnings	$210.00M
EBIT	$990.00M
ROE	15%
ROA	12%
FCF	$827.00M
Equity	$1.38B
Growth Stability	1
PE	151.54
PEG	1.54K
PB	23.14
P/FCF	38.48
P/S	2.33
Price/Cash	0.06
Debt/Equity	4.08
Debt/FCF	6.78
Net Margins	2%
Gross Margins	21%
Op. Margins	7%
Earnings CAGR	0%
Sales Growth YoY	46%
Sales Growth QoQ	-3%
Sales CAGR	43%
FCF CAGR	0%
Equity CAGR	7%
Earnings Stability	-0.04
Earnings Growth YoY	-140%
Earnings Growth QoQ	-7%

Earnings CAGR 5Y	0%
Sales CAGR 5Y	23%
FCF CAGR 5Y	2%
Equity CAGR 5Y	4%
Earnings CAGR 3Y	-6%
Sales CAGR 3Y	-6%
FCF CAGR 3Y	33%
Equity CAGR 3Y	41%
Market Cap	$31.82B
Revenue	$13.67B
Assets	$8.48B
Total Debt	$5.61B
Cash	$1.76B
Shares Outstanding	122.09M
EV	35.67B
Earnings Score	6%
Moat Score	81%
Safety Score	70%
Final Score	52%
Working Capital	3.53B
Current Ratio	3.64
Gross Profit	$2.88B
Shares Growth 3y	2%
Equity Growth QoQ	125%
Equity Growth YoY	466%

Assets & ROA

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Stockholders Equity & ROE

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Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues. The other sales and revenues include sales of loans originated and sold in securitization transactions or to financing partners, commissions received on VSCs and sales of GAP waiver coverage.

SEC Filings

Direct access to Carvana Co. (CVNA) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Carvana Co. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Carvana Co. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 0%

Stability -4%

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Carvana Co. Discounted Cash Flow

Fully customizable DCF calculator online for Carvana Co..

Years

Calculation mode

= $8.4B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$827M	$828M	$830M	$831M	$832M	$834M	$835M	$836M	$837M	$839M	$840M	$8.4B
DCF		$753M	$686M	$624M	$568M	$518M	$471M	$429M	$391M	$356M	$324M	$3.2B
Value	$8.4B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	-28%	-25%	-13%	-9%	-8%	-2%	-21%	1%	2%	2%
ROA	-	-	-	-	-	-	-	-1%	12%	12%
ROE	-	80%	-112%	-190%	-58%	-55%	559%	62%	15%	15%

Bad Net Margins (1.54%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-1.21	-	-1.51	-1.75	-1.7	-4.47	8.65	6.78	6.78
Debt over Equity	-	-2.91	3.73	7.76	2.12	10.21	-15.85	25.49	4.08	4.08
Growth Stability	-	-	-	-	-	-	-	-	-	1

Bad Debt/FCF ratio (6.78)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Bad Debt/Equity ratio (4.08)

The company is overleveraged and has a bad balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	180%	436%	101%	42%	129%	6%	-21%	27%	23%
Earnings YoY growth	-	153%	174%	43%	27%	-38%	908%	-105%	40%	0%
Equity YoY growth	-	-	-296%	-16%	318%	-34%	-199%	-147%	466%	4%
FCF YoY growth	-	315%	99%	77%	-2%	225%	-42%	-139%	16%	2%