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Carvana Valuation Multiples

Discover revenue and EBITDA valuation multiples for Carvana and similar public comparables like Airtasker, Articore Group, and Prosus.

Carvana Overview

About Carvana

Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues. The other sales and revenues include sales of loans originated and sold in securitization transactions or to financing partners, commissions received on VSCs and sales of GAP waiver coverage. The foundation of the business is retail vehicle unit sales. This drives the majority of the revenue and allows the company to capture additional revenue streams associated with financing, VSCs, auto insurance and GAP waiver coverage, as well as trade-in vehicles.


Founded

2016

HQ

United States of America
Employees

17.4K+

Website

carvana.com

Financials

LTM Revenue $15.3B

LTM EBITDA $1.7B

EV

$47.9B

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Carvana Financials

Carvana has a last 12-month revenue (LTM) of $15.3B and a last 12-month EBITDA of $1.7B.

In the most recent fiscal year, Carvana achieved revenue of $13.7B and an EBITDA of $1.4B.

Carvana expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Carvana P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $15.3B XXX $13.7B XXX XXX XXX
Gross Profit $3.3B XXX $2.9B XXX XXX XXX
Gross Margin 22% XXX 21% XXX XXX XXX
EBITDA $1.7B XXX $1.4B XXX XXX XXX
EBITDA Margin 11% XXX 10% XXX XXX XXX
EBIT $1.3B XXX $990M XXX XXX XXX
EBIT Margin 8% XXX 7% XXX XXX XXX
Net Profit $696M XXX $210M XXX XXX XXX
Net Margin 5% XXX 2% XXX XXX XXX
Net Debt XXX XXX $3.9B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Carvana Stock Performance

As of May 30, 2025, Carvana's stock price is $327.

Carvana has current market cap of $44.2B, and EV of $47.9B.

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Carvana Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$47.9B $44.2B XXX XXX XXX XXX $3.15

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Carvana Valuation Multiples

As of May 30, 2025, Carvana has market cap of $44.2B and EV of $47.9B.

Carvana's trades at 3.5x EV/Revenue multiple, and 35.3x EV/EBITDA.

Equity research analysts estimate Carvana's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Carvana has a P/E ratio of 63.5x.

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Carvana Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $44.2B XXX $44.2B XXX XXX XXX
EV (current) $47.9B XXX $47.9B XXX XXX XXX
EV/Revenue 3.1x XXX 3.5x XXX XXX XXX
EV/EBITDA 28.8x XXX 35.3x XXX XXX XXX
EV/EBIT 36.9x XXX 48.4x XXX XXX XXX
EV/Gross Profit 14.4x XXX n/a XXX XXX XXX
P/E 63.5x XXX 210.4x XXX XXX XXX
EV/FCF 49.1x XXX 57.9x XXX XXX XXX

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Carvana Margins & Growth Rates

Carvana's last 12 month revenue growth is 26%

Carvana's revenue per employee in the last FY averaged $0.8M, while opex per employee averaged $0.1M for the same period.

Carvana's rule of 40 is 37% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Carvana's rule of X is 75% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Carvana Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 26% XXX 26% XXX XXX XXX
EBITDA Margin 11% XXX 10% XXX XXX XXX
EBITDA Growth 39% XXX 34% XXX XXX XXX
Rule of 40 37% XXX 36% XXX XXX XXX
Bessemer Rule of X XXX XXX 75% XXX XXX XXX
Revenue per Employee XXX XXX $0.8M XXX XXX XXX
Opex per Employee XXX XXX $0.1M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 2% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 14% XXX XXX XXX

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Carvana Public Comps

See public comps and valuation multiples for Consumer Marketplaces and Vertical Marketplaces comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Prosus XXX XXX XXX XXX XXX XXX
Just Eat Takeaway.com XXX XXX XXX XXX XXX XXX
Marti Technologies XXX XXX XXX XXX XXX XXX
Airtasker XXX XXX XXX XXX XXX XXX
Articore Group XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Carvana M&A and Investment Activity

Carvana acquired  XXX companies to date.

Last acquisition by Carvana was  XXXXXXXX, XXXXX XXXXX XXXXXX . Carvana acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Carvana

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Carvana

When was Carvana founded? Carvana was founded in 2016.
Where is Carvana headquartered? Carvana is headquartered in United States of America.
How many employees does Carvana have? As of today, Carvana has 17.4K+ employees.
Who is the CEO of Carvana? Carvana's CEO is Mr. Ernest Garcia, III.
Is Carvana publicy listed? Yes, Carvana is a public company listed on NYS.
What is the stock symbol of Carvana? Carvana trades under CVNA ticker.
When did Carvana go public? Carvana went public in 2017.
Who are competitors of Carvana? Similar companies to Carvana include e.g. Prosus, Just Eat Takeaway.com, Marti Technologies, Airtasker.
What is the current market cap of Carvana? Carvana's current market cap is $44.2B
What is the current revenue of Carvana? Carvana's last 12 months revenue is $15.3B.
What is the current revenue growth of Carvana? Carvana revenue growth (NTM/LTM) is 26%.
What is the current EV/Revenue multiple of Carvana? Current revenue multiple of Carvana is 3.1x.
Is Carvana profitable? Yes, Carvana is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Carvana? Carvana's last 12 months EBITDA is $1.7B.
What is Carvana's EBITDA margin? Carvana's last 12 months EBITDA margin is 11%.
What is the current EV/EBITDA multiple of Carvana? Current EBITDA multiple of Carvana is 28.8x.
What is the current FCF of Carvana? Carvana's last 12 months FCF is $974M.
What is Carvana's FCF margin? Carvana's last 12 months FCF margin is 6%.
What is the current EV/FCF multiple of Carvana? Current FCF multiple of Carvana is 49.1x.

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