Question 1

What is Carvana's P/E ratio?

Accepted Answer

Carvana (CVNA) P/E ratio is 29.1× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Carvana?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Carvana specifically, the relevant sector benchmark is the current sector median of 21.7×.

Question 5

Is Carvana's P/E ratio high or low?

Accepted Answer

Carvana's P/E ratio of 29.1× is below its own 5-year average of 273.6× and above the sector median of 21.7×. That places the current reading at the 24th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Carvana's historical P/E ratio range?

Accepted Answer

In the available daily series, Carvana (CVNA) P/E ratio has ranged from a low of 13.3× in 2024 to a high of 2241.8× in 2025. The 5-year average is 273.6× and the 5-year median is 88.3×.

Question 7

What was Carvana's P/E ratio in 2025?

Accepted Answer

Carvana (CVNA) P/E ratio at the end of 2025 was 66.5×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Carvana's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$93.5B	$1.41B	66.5×	-130.6×	Dec 31, 2025
2024	$41.4B	$210M	197.0×	+176.1×	Dec 31, 2024
2023	$9.45B	$450M	21.0×	—	Dec 31, 2023
2022	$785M	-$1.59B	—	—	Dec 31, 2022
2021	$31.5B	-$135M	—	—	Dec 31, 2021
2020	$27.4B	-$171M	—	—	Dec 31, 2020
2019	$7.23B	-$115M	—	—	Dec 31, 2019
2018	$2.01B	-$55.5M	—	—	Dec 31, 2018
2017	$474M	-$52.6M	—	—	Dec 31, 2017
2016	$260M	-$93.1M	—	—	Dec 31, 2016


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P/E Ratio for Carvana (CVNA) 2023-2026

P/E Ratio daily chart for Carvana (CVNA)

Historical P/E Ratio for Carvana (CVNA) from 2016 to 2025

About P/E Ratio at Carvana (CVNA)

Carvana P/E Ratio by Year

Carvana P/E Ratio 2025: 66.5×

Carvana P/E Ratio 2024: 197.0×

Carvana P/E Ratio 2023: 21.0×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Carvana (CVNA) Key Financials