CARVANA CO. (CVNA) closed fiscal year 2025 with a gross margin of 20.6 % and a net margin of 6.9 %.
CARVANA CO. (CVNA) closed fiscal year 2025 with a gross margin of 20.6 % and a net margin of 6.9 %. The same year shows an EBITDA margin of 9.3 % and an EBIT margin of 9.3 %. The free cash flow margin was 4.4 %. Against the previous year the gross margin moved −0.4 pp and the net margin +5.4 pp. Across the period the gross margin ranges between 1.0 % in 2015 and 21.0 % in 2024. The series covers 11 fiscal years, from 2015 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 1.03 % | 5.26 % | 7.93 % | 10.06 % | 12.87 % | 14.21 % | 15.05 % | 9.16 % | 16.01 % | 21.03 % | 20.63 % |
| EBITDA margin (%) | — | — | — | — | — | — | — | -17.16 % | -0.58 % | 7.37 % | 9.32 % |
| EBIT margin (%) | — | — | — | — | — | — | — | -17.28 % | -0.74 % | 7.24 % | 9.26 % |
| Net margin (%) | -28.21 % | -25.50 % | -7.32 % | -2.84 % | -2.92 % | -3.06 % | -1.05 % | -11.67 % | 4.18 % | 1.54 % | 6.92 % |
| FCF margin (%) | -51.73 % | -76.62 % | -32.42 % | -28.54 % | -25.08 % | -17.33 % | -24.59 % | -13.50 % | 6.65 % | 6.05 % | 4.37 % |
