CVNA Carvana margins

  1. Stocks
  2. Consumer Cyclical
  3. NYSE: CVNA
  4. Margins
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Relative Growth: Rel. Growth: 91
Relative Strength: Rel. Strength: 34
Relative Valuation: Rel. Valuation: 62
Relative Profitability: Rel. Profitability: 59
Gross margin
19.4%
Operating margin
8.9%
EBITDA margin
-1.7%
Net margin
6.3%

Carvana reports a gross margin of 19.4%, an operating margin of 8.9%, an EBITDA margin of -1.7%, and a net margin of 6.3%, but its EBITDA margin is negative at -1.7%. Among the available margins, net margin improved the most and EBITDA margin declined the most, by 2.8 and 10.5 percentage points respectively.

CVNA margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Carvana's margins averaged 19.86% gross, 6.51% operating, 7.08% EBITDA, and 4.25% net. For Carvana, operating and net margins are above their three-year averages, while gross and EBITDA margins are below their three-year averages.

CVNA margin expansion

Year-over-year margin changes in percentage points

Carvana's net margin expanded by 2.8 percentage points, but gross margin contracted by 2.5 percentage points, operating margin by 0.3 percentage points, and EBITDA margin by 10.5 percentage points.

Gross margin expansion
-2.5pp
Operating margin expansion
-0.3pp
EBITDA margin expansion
-10.5pp
Net margin expansion
2.8pp

CVNA Gross margin

Over the last 3 years, the average gross margin for Carvana was 19.86%. The latest gross margin for Carvana is 19.4%, 0.5 percentage points below its three-year average. Carvana's gross margin ranged from a low of 16% in Dec 2023 to a high of 21.9% in Jun 2025.

CVNA Operating margin

Carvana's operating margin averaged 6.51% over the last 3 years. Compared with its three-year average, Carvana's current operating margin is 8.9% and is 2.4 percentage points above its three-year average. Over the last 3 years, Carvana's operating margin peaked at 9.4% in Sep 2025 and reached a low of -0.7% in Dec 2023.

CVNA EBITDA margin

Across the last 3 years, Carvana's EBITDA margin came to 7.08%. The current EBITDA margin stands at -1.7%, 8.8 percentage points below its three-year average. EBITDA margin was highest at 14.8% in Jun 2024 and lowest at -2.9% in Dec 2025.

CVNA Net margin

The average net margin for Carvana was 4.25% during the last 3 years. At present, the current net margin for Carvana is 6.3%, 2.1 percentage points above its three-year average. The net margin for Carvana moved between 0.1% in Sep 2024 and 6.9% in Dec 2025.

CVNA margin group comparison

Margins compared with peer-group, industry and sector averages

Carvana's gross margin of 19.4% is below the Consumer Cyclical sector and the industry average. In comparison with its Consumer Cyclical sector average of 36.3%, Carvana's gross margin is 47% lower.

CVNA margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Carvana's gross margin?

As of Jun 30, 2026, CVNA has a gross margin of 19.4%.

What is Carvana's operating margin?

As of Jun 30, 2026, CVNA has an operating margin of 8.9%.

What is Carvana's EBITDA margin?

As of Jun 30, 2026, CVNA has a negative EBITDA margin of -1.7%.

What is Carvana's net margin?

As of Jun 30, 2026, CVNA has a net margin of 6.3%.

What are the average margins of CVNA?

Over the past 3 years, CVNA reported average margins of 19.9% gross, 6.5% operating, 7.1% EBITDA, and 4.3% net.

What are the highest historical margins of CVNA?

Carvana's highest recorded margins during the past 5 years were 21.9% gross in Jun 2025, 9.4% operating in Sep 2025, 14.8% EBITDA in Jun 2024, and 6.9% net in Dec 2025.

What are the lowest historical margins of CVNA?

Carvana's lowest recorded margins during the past 5 years were 9.2% gross in Dec 2022, -17.3% operating in Dec 2022, -6.2% EBITDA in Dec 2022, and -11.7% net in Dec 2022.