TTM
3.3%
YoY change
−1.67pp
Trough year (2014)
-81.4%
Peak year (2023)
6.6%
Latest annual
4.4%
FCF Margin history chart for Carvana (CVNA) from 2014 to 2025
Latest: 4.4%
FCF Margin change chart for Carvana (CVNA) from 2014 to 2025
Latest: −1.67pp
FCF Margin history table for Carvana (CVNA) from 2014 to 2025
| 2025 | 4.4% | -1.67pp | ||
| 2024 | 6.0% | -0.60pp | ||
| 2023 | 6.6% | +20.14pp | ||
| 2022 | -13.5% | +11.09pp | ||
| 2021 | -24.6% | -7.26pp | ||
| 2020 | -17.3% | +7.73pp | ||
| 2019 | -25.1% | +3.47pp | ||
| 2018 | -28.5% | +3.88pp | ||
| 2017 | -32.4% | +44.20pp | ||
| 2016 | -76.6% | -24.88pp | ||
| 2015 | -51.7% | +29.67pp | ||
| 2014 | -81.4% | — |
- 20254.4%-1.67pp
- 20246.0%-0.60pp
- 20236.6%+20.14pp
- 2022-13.5%+11.09pp
- 2021-24.6%-7.26pp
- 2020-17.3%+7.73pp
- 2019-25.1%+3.47pp
- 2018-28.5%+3.88pp
- 2017-32.4%+44.20pp
- 2016-76.6%-24.88pp
- 2015-51.7%+29.67pp
- 2014-81.4%—
FCF Margin values are taken from Carvana's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About FCF Margin at Carvana (CVNA)
According to Carvana's latest reported financial statements, the company's latest reported free cash flow margin is 3.3%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
Carvana (CVNA) most recent annual free cash flow margin stands at 4.37% (2025) – contracted 1.7 percentage points year-over-year.
2023 marks the peak free cash flow margin at 6.65%, with the historical low of -81.41% recorded in 2014.
Carvana FCF Margin by Year
Carvana FCF Margin 2025: 4.4%
In 2025, Carvana reported free cash flow margin of 4.37%, contracted 1.7 percentage points from 2024.
Carvana FCF Margin 2024: 6.0%
Carvana free cash flow margin in 2024 was 6.05%, contracted 0.6 percentage points from 2023.
Carvana FCF Margin 2023: 6.6%
2023's free cash flow margin for Carvana came in at 6.65%, expanded 20.1 percentage points from 2022. This figure represents the highest annual value in the available history.
Carvana FCF Margin 2022: -13.5%
Carvana posted free cash flow margin of -13.50% in 2022, expanded 11.1 percentage points from 2021.
Carvana FCF Margin 2021: -24.6%
Carvana free cash flow margin in 2021 was -24.59%.
See more financial history for Carvana (CVNA).
Sector peers by FCF Margin
Consumer Cyclical peers of Carvana (CVNA), ranked by their latest free cash flow margin
| 32.6% | |
| 25.6% | |
| 24.0% | |
| 8.9% | |
| 8.6% | |
| 7.2% | |
| -0.3% | |
| -4.9% |
- 25.6%
- 24.0%
- 8.6%
- 7.2%
- -0.3%
- -4.9%
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