FINHUB Insights

CVNA · Q4 FY25 · Oct 1 – Dec 31, 2025

Carvana Q4 FY25: where the revenue came from and where it went

Carvana Q4 FY25: revenue $5.6B (+58% year over year). Net profit $0.9B. Largest cohort Used Vehicle Sales $4.2B. The whole income statement as a sankey diagram from the SEC filing.

Period
Oct 1 – Dec 31, 2025
Reported
Feb 18, 2026 10-K
Sankey diagram of Carvana's income statement for Q4 FY25: revenue of $5.6 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$5.6B +58% year over year
Gross profit$1.1B 19% margin
Operating profit$0.4B 8% margin
Net profit$0.9B 15% margin

The numbers

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
ItemValueShare of revenueYear over year
Revenue 5.6 100% +58%
Used Vehicle Sales 4.2 75% +63%
Wholesale Sales and 1 18% +46%
Product and Service Other 0.5 9% +45%
Cost of revenue−4.682%
Gross profit1.119% margin−3pp
SG&A−0.611%−3pp
Operating profit0.48% margin+0pp
Interest & other costs−2.3
Net profit0.915%+13pp
Filing on EDGAR More quarters of CVNA

Source of the numbers: structured XBRL data from the filing (10-K). The diagram is generated automatically and checked against EDGAR before release. The fourth quarter has no column of its own in an annual report, so it is the full year minus the first nine months. How we calculate it → About and methodology.

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