Carvana Co. (CVNA) Stock

Carvana Co. (CVNA) is a Consumer Discretionary stock trading at $64.08 (as of 2026-07-20), with a market capitalization of $71.86B and a trailing P/E of 66.4. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Carvana Co. operates an online platform for purchasing and selling used vehicles in the United States. It supports the vehicle journey through acquisition, inspection and reconditioning, online search and shopping, financing, logistics and delivery, post-sale customer support, and also runs auction sites.

Understand Carvana Co.: how it makes money

Carvana operates an e-commerce platform for buying and selling used cars in the United States, including vehicle acquisition, inspection and reconditioning, online search and shopping, financing, logistics and delivery, and post-sale support, and it also operates auction sites and wholesale marketplaces to generate revenue from vehicle sales.

Carvana’s profit engine is the spread between the total cost to acquire, prepare, and deliver used vehicles and the selling prices it earns through its retail and wholesale sales channels.

Revenue by segment (latest quarter)
Retail	$4.8B
Wholesale	$1.1B
Other	$0.5B

Business quality (Solid): The model is clear at a high level, but the profit drivers are operational (acquisition costs, reconditioning, and fulfillment) and this snapshot provides limited detail on those unit economics, so it is harder to fully validate how operational performance translates into margins.

Valuation: At 8× earnings, CVNA trades 60% below the Retail average (19×). Note: one-time items can distort reported P/E.

Bull case

Operational footprint for preparation and throughput: Carvana reports 34 reconditioning-capable locations and 18 inspection and reconditioning centers operating count, with annual inspection and reconditioning center capacity at full utilization of 1,000,000.
Delivery promise is measurable and improving: It reports Phoenix same-day or next-day delivery customer share of 40%, nationwide same-day or next-day delivery customer share of 10%, and customer delivery time improvement of 0.7.

Bear case

Fulfillment reach may be uneven: The company reports Phoenix same-day delivery available cars of 2,500, while the nationwide same-day or next-day customer share is 10%, which can limit how consistently the experience matches the promise outside Phoenix.
Execution and integration complexity: Carvana’s wholesale expansion includes ADESA integration playbook sites completed of 5 and ADESA sites integrated into Carvana inspection and reconditioning operations of 16, which adds operational change risk.

Valuation — source: SEC EDGAR (first-party)
Price	$64.08
Market Cap	$71.86B
P/E Ratio	66.4
EV / EBITDA	36.5
Price / Book	15.51
Price / Sales	3.40
FCF Yield	1.4%
DCF Value (model)	$89.56
DCF Upside vs Price	39.8%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$20.32B
Net Margin	6.9%
Revenue Growth (YoY)	48.6%
EPS Growth (YoY)	494.2%
FCF Growth (YoY)	7.5%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.42 (safe)
Piotroski F-Score	5/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	66.4
Sector P/E (Consumer Discretionary)	21.6
Industry P/E (Retail)	19.1
vs Sector	208.1%
vs Industry	247.2%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($7.08B)
Institutional Holders Tracked	10
Congressional Trades (recent)	6

Company
Sector	Consumer Discretionary
Industry	Retail
CEO	Ernest C. Garcia
Employees	17,400
Country	US
IPO Date	2017-04-28

Related Companies (Business model: First-Party E-commerce (Own-Inventory or Own-Platform Retail); 8 closest by market cap; US-domiciled)

Data as of 2026-07-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.