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CVNA
Carvana Co.Stock · Consumer Discretionary · S&P 500 0.08%
$73.70+$1.22 (+1.68%)as of market close, Aug 13, 2026
☾ After hours:$73.70+0.00%3:59 PM ET
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How Carvana makes money

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How does Carvana make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Carvana Co. · FY2025 · year ended 2025-12-31
Revenue$20.3BGross profit$4.2B · 21%Cost of revenue$16.1B · 79%Operating income$1.9B · 9%Operating expenses$2.3B · 11%SG&A$2.3B · 11%Pre-tax income$1.4B · 7%Other expense$474M · 2%Net income$1.4B · 7%Used Vehicle Sales$14.5B · 72%Wholesale Sales & Revenues$4.1B · 20%Product & Service Other$1.7B · 9%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.