Flagship explainer
How CARVANA CO. makes its money
Start with a dollar of revenue and follow what the filing says remains.
Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.
| Filed line | Value | % of revenue | Source |
|---|---|---|---|
| $20.3B | 100% |
| |
| Cost of revenue | $16.1B | 79% |
|
| $4.2B | 21% |
| |
| $1.9B | 9% |
| |
| Income before tax | −$1.4B | −7% |
|
| Income tax | −$2.8B | −14% |
|
| $1.4B | 7% |
|
Source:
- SEC filing · FY 2025Filing detailsAccession 0001690820-26-000009