← CARVANA CO.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
ASSETS
Current assets:
Accounts receivable, net $5.7m $14.1m $33.1m $39.9m $78.6m $206.0m $253.0m $266.0m $303.0m $245.0m
Cash and Cash Equivalents, at Carrying Value $39.2m $172.7m $78.9m $76.0m $300.8m $403.0m $434.0m $530.0m $1.7b $2.3b
Cash and cash equivalents $39.2m $172.7m $78.9m $76.0m $300.8m $403.0m $434.0m $530.0m $1.7b $2.3b
Finance receivables held for sale, net $24.8m $45.6m $105.2m $287.0m $274.9m $356.0m $1.3b $807.0m $612.0m $813.0m
Other current assets, including $5 and $4, respectively, due from related parties $9.8m $15.5m $23.6m $52.7m $73.0m $163.0m $182.0m $138.0m $122.0m $168.0m
Tax receivable agreement liability, including $1,721 and $48, respectively, due to related parties — — — — — — — — $65.0m $2.2b
Vehicle inventory $185.5m $227.4m $412.2m $762.7m $1.0b $3.1b $1.9b $1.1b $1.6b $2.4b
Inventory, Net $185.5m $227.4m $412.2m $762.7m $1.0b $3.1b $1.9b $1.1b $1.6b $2.4b
Assets, Current $275.2m $489.7m $662.9m $1.4b $1.9b $4.9b $4.6b $3.3b $4.9b $6.5b
Total current assets $275.2m $489.7m $662.9m $1.4b $1.9b $4.9b $4.6b $3.3b $4.9b $6.5b
Property, Plant and Equipment, Net $60.6m $148.7m $296.8m $543.5m $909.2m $1.6b $3.2b $3.0b $2.8b $2.8b
Goodwill — $0 $9.4m $9.4m $9.4m $9.0m $0 — $0 $10.0m
Intangible Assets, Net (Excluding Goodwill) — — — — — — — — — $47.0m
Intangible assets, net — $0 $8.9m $7.2m $5.6m $4.0m $70.0m $52.0m $34.0m $47.0m
Operating Lease, Right-of-Use Asset — — $0 $123.4m $155.5m $369.0m $536.0m $455.0m $440.0m $443.0m
Operating lease right-of-use assets, including $6 and $13, respectively, from leases with related parties — — $0 $123.4m $155.5m $369.0m $536.0m $455.0m $440.0m $443.0m
Other Assets, Noncurrent $0 $2.7m $13.1m $14.8m $31.8m $181.0m $254.0m $261.0m $368.0m $274.0m
Other assets $0 $2.7m $13.1m $14.8m $31.8m $181.0m $254.0m $261.0m $368.0m $274.0m
Additional Financial Items
Accounts Receivable, after Allowance for Credit Loss, Current $5.7m $14.1m $33.1m $39.9m $78.6m $206.0m $253.0m $266.0m $303.0m $245.0m
Beneficial interests in securitizations — — $0 $98.8m $131.3m $382.0m $321.0m $366.0m $464.0m $486.0m
Deferred tax assets — — — — — — — — $3.0m $3.1b
Non-controlling interests — $153.8m $154.0m $93.8m $413.9m $219.0m ($535.0m) ($627.0m) $115.0m $762.0m
Operating lease liabilities, excluding current portion, including $5 and $10, respectively, from leases with related parties — — $0 $116.1m $147.5m $361.0m $507.0m $433.0m $414.0m $406.0m
Other current liabilities, including $31 and $16, respectively, due to related parties — — $0 $12.9m $19.5m $29.0m $80.0m $83.0m $106.0m $134.0m
Other liabilities $0 $7.1m $8.7m $1.8m $1.4m $31.0m $78.0m $70.0m $101.0m $15.0m
Restricted cash $10.3m $14.4m $9.8m $42.4m $28.3m $233.0m $194.0m $64.0m $44.0m $102.0m
Short-term revolving facilities $165.3m $248.8m $197.0m $568.8m $39.8m $2.1b $1.5b $668.0m $67.0m $58.0m
Assets $335.8m $641.1m $991.0m $2.1b $3.0b $7.0b $8.7b $7.1b $8.5b $13.2b
Total assets $335.8m $641.1m $991.0m $2.1b $3.0b $7.0b $8.7b $7.1b $8.5b $13.2b
LIABILITIES AND EQUITY
Current liabilities:
Accounts Payable, Current $6.2m $10.5m $29.1m $63.6m $66.5m $141.0m $232.0m $231.0m $236.0m $236.0m
Accounts payable and accrued liabilities, including $21 and $17, respectively, due to related parties $28.2m $50.3m $117.5m $234.4m $342.3m $656.0m $777.0m $596.0m $856.0m $1.1b
Current portion of long-term debt $1.1m $5.1m $11.1m $48.7m $65.5m $152.0m $201.0m $189.0m $309.0m $227.0m
Dividends Payable $0 $413k $0 $0 — — — — — —
Long-term Debt, Current Maturities $1.1m $5.1m $11.1m $606.6m $78.9m $2.2b $1.6b $777.0m $302.0m $211.0m
Long-term Debt, Excluding Current Maturities $1.1m $5.1m $11.1m $883.1m $1.6b $3.2b $6.6b $5.4b $5.3b $4.8b
Long-term debt, excluding current portion $4.4m $48.5m $425.3m $883.1m $1.6b $3.2b $6.6b $5.4b $5.3b $4.8b
Operating Lease, Liability, Noncurrent — — — $116.1m $147.5m $361.0m $507.0m $433.0m $414.0m $406.0m
Liabilities, Current $196.4m $306.0m $329.5m $864.9m $467.1m $2.9b $2.6b $1.5b $1.3b $1.5b
Total current liabilities $196.4m $306.0m $329.5m $864.9m $467.1m $2.9b $2.6b $1.5b $1.3b $1.5b
Other Liabilities, Noncurrent $0 $7.1m $8.7m $1.8m $1.4m $31.0m $78.0m $70.0m $101.0m $15.0m
Deferred Tax Liabilities, Net — — $2.2m $1.8m $1.4m — — — — —
Liabilities $200.8m $361.6m $763.6m $1.9b $2.2b $6.5b $9.8b $7.5b $7.1b $9.0b
Total liabilities $200.8m $361.6m $763.6m $1.9b $2.2b $6.5b $9.8b $7.5b $7.1b $9.0b
Stockholders’ equity:
Accumulated deficit — ($12.9m) ($74.7m) ($183.0m) ($354.2m) ($489.0m) ($2.1b) ($1.6b) ($1.4b) ($9.0m)
Additional Paid in Capital — $41.4m $147.9m $281.0m $741.6m $795.0m $1.6b $1.9b $2.7b $3.5b
Preferred Stock, Value, Issued — $0 $0 $0 $0 $0 $0 $0 $0 $0
Preferred stock, $0.01 par value - 50,000 shares authorized; none issued and outstanding as of each of December 31, 2025 and 2024 — 0 0 0 0 0 0 0 0 0
Retained Earnings (Accumulated Deficit) — ($12.9m) ($74.7m) ($183.0m) ($354.2m) ($489.0m) ($2.1b) ($1.6b) ($1.4b) ($9.0m)
Stockholders' Equity Attributable to Parent — $125.7m $73.4m $98.1m $387.6m $306.0m ($518.0m) $243.0m $1.3b $3.4b
Stockholders' Equity Attributable to Noncontrolling Interest — $153.8m $154.0m $93.8m $413.9m $219.0m ($535.0m) ($627.0m) $115.0m $762.0m
Total stockholders' equity — $279.5m $227.4m $191.9m $801.5m $525.0m ($1.1b) ($384.0m) $1.4b $4.2b
Total stockholders' equity attributable to Carvana Co. — $125.7m $73.4m $98.1m $387.6m $306.0m ($518.0m) $243.0m $1.3b $3.4b
Liabilities and Equity $335.8m $641.1m $991.0m $2.1b $3.0b $7.0b $8.7b $7.1b $8.5b $13.2b
Total liabilities & stockholders' equity $335.8m $641.1m $991.0m $2.1b $3.0b $7.0b $8.7b $7.1b $8.5b $13.2b

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.