TTM
9.2%
YoY change
+1.93pp
Trough year (2014)
-36.2%
Peak year (2025)
9.3%
Latest annual
9.3%
Operating Margin history chart for Carvana (CVNA) from 2014 to 2025
Latest: 9.3%
Operating Margin change chart for Carvana (CVNA) from 2014 to 2025
Latest: +1.93pp
Operating Margin history table for Carvana (CVNA) from 2014 to 2025
| 2025 | 9.3% | +1.93pp | ||
| 2024 | 7.3% | +8.07pp | ||
| 2023 | -0.7% | +10.21pp | ||
| 2022 | -11.0% | -10.14pp | ||
| 2021 | -0.8% | +5.14pp | ||
| 2020 | -5.9% | +1.16pp | ||
| 2019 | -7.1% | +4.57pp | ||
| 2018 | -11.7% | +6.40pp | ||
| 2017 | -18.1% | +6.42pp | ||
| 2016 | -24.5% | +2.59pp | ||
| 2015 | -27.1% | +9.15pp | ||
| 2014 | -36.2% | — |
- 20259.3%+1.93pp
- 20247.3%+8.07pp
- 2023-0.7%+10.21pp
- 2022-11.0%-10.14pp
- 2021-0.8%+5.14pp
- 2020-5.9%+1.16pp
- 2019-7.1%+4.57pp
- 2018-11.7%+6.40pp
- 2017-18.1%+6.42pp
- 2016-24.5%+2.59pp
- 2015-27.1%+9.15pp
- 2014-36.2%—
Operating 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 Operating Margin at Carvana (CVNA)
According to Carvana's latest reported financial statements, the company's latest reported operating margin is 9.2%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
The 2025 reading of Carvana (CVNA) operating margin is 9.26% – expanded 1.9 percentage points year-over-year.
Across the available history, operating margin reached its high of 9.26% in 2025 and its low of -36.25% in 2014.
Carvana Operating Margin by Year
Carvana Operating Margin 2025: 9.3%
In 2025, Carvana reported operating margin of 9.26%, expanded 1.9 percentage points from 2024. This figure represents the highest annual value in the available history.
Carvana Operating Margin 2024: 7.3%
Carvana operating margin in 2024 was 7.33%, expanded 8.1 percentage points from 2023.
Carvana Operating Margin 2023: -0.7%
2023's operating margin for Carvana came in at -0.74%, expanded 10.2 percentage points from 2022.
Carvana Operating Margin 2022: -11.0%
Carvana posted operating margin of -10.95% in 2022, contracted 10.1 percentage points from 2021.
Carvana Operating Margin 2021: -0.8%
Carvana operating margin in 2021 was -0.81%.
See more financial history for Carvana (CVNA).
Sector peers by Operating Margin
Consumer Cyclical peers of Carvana (CVNA), ranked by their latest operating margin
| 46.0% | |
| 34.3% | |
| 22.2% | |
| 12.4% | |
| 12.4% | |
| 11.5% | |
| 5.8% | |
| 5.0% |
- 46.0%
- 22.2%
- 12.4%
- 12.4%
- 11.5%
- 5.8%
- 5.0%
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