Superworth

Carvana profit margin CVNA

Gross, operating and net profit as a share of revenue over the last twelve months, from 2016.

Net margin, 12 months
6.3%
Operating margin, 12 months
8.9%
Net margin on a year earlier
+2.8 pts
Peer median
2.8%

Over the twelve months to Jun 30, 2026, Carvana kept 6.3% of its revenue as net profit, with an operating margin of 8.9% and a gross margin of 19.4%.

Five years earlier its net margin was −0.9%.

The median for 5 car dealers of a similar size is 2.8%.

Profit margin over time

GrossOperatingNet

Open the interactive chart, with overlays and comparisons

Fiscal year by fiscal year

Fiscal yearNet marginOperating marginGross margin
FY20256.9%9.3%20.6%
FY20241.5%7.2%21.0%
FY20234.2%−0.7%16.0%
FY2022−11.7%−17.2%9.2%
FY2021−1.1%−0.8%15.1%
FY2020−3.1%−5.9%14.2%
FY2019−2.9%−7.1%12.9%
FY2018−2.8%−11.7%10.1%
FY2017−7.3%−18.1%7.9%
FY2016−25.5%−24.5%5.3%

Quarter by quarter

QuarterEndedNet margin, 12 monthsChange on a yearOperating margin
Q2 FY266.3%+2.8 pts8.9%
Q1 FY266.4%+3.7 pts9.2%
Q4 FY256.9%+5.4 pts9.3%
Q3 FY253.4%+3.3 pts9.4%
Q2 FY253.5%−2.7 pts9.2%
Q1 FY252.7%−3.0 pts8.4%
Q4 FY241.5%−2.6 pts7.2%
Q3 FY240.1%+2.3 pts5.5%
Q2 FY246.1%+17.2 pts3.5%
Q1 FY245.7%+17.4 pts1.7%
Q4 FY234.2%+15.8 pts−0.7%
Q3 FY23−2.2%+3.8 pts−11.9%

Against its peers

Companies in Auto - Dealerships nearest Carvana's size, closest first, today.

CompanyProfit margin
CVNACarvana6.3%
PAGPenske Automotive2.8%
RRyder System3.9%
MUSAMurphy USA2.9%
KMXCarmax1.1%
LADLithia Motors1.9%
Peer median2.8%

Where Carvana ranks

What the profit margin tells you

Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).

Compare within an industry. 10% is superb for a retailer and poor for a software company.

More on Carvana

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.