CVNA Carvana
FY2025 10-K
Carvana (CVNA) filed its fiscal year 2025 10-K annual report with the SEC on Feb 18, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business: Online used vehicle sales platform with vehicle sourcing, financing, and delivery services
- • New emphasis on AI integration for customer support, marketing, recruiting, and operational efficiencies, with associated legal and compliance risks
Management Discussion & Analysis
- • Revenue $20.3B in 2025 vs $13.7B in 2024 (+48.2%), driven by retail vehicle sales growth to $14.5B from $9.7B
- • Total gross profit per unit $7,026 in 2025 vs $6,908 in 2024; non-GAAP gross profit per unit $7,182 vs $7,196
Risk Factors
- • Legal risk from increased regulatory scrutiny on selling used vehicles with open safety recalls, causing potential losses, costs, and litigation exposure
- • Geopolitical threat from military conflicts in Ukraine, Middle East, and US-China-Taiwan tensions impacting vehicle supply and consumer behavior
Financial SummaryXBRL
Revenue
$20.3B
Net Income
$1.4B
Gross Margin
20.6%
Operating Margin
9.3%
Net Margin
6.9%
ROE
40.9%
Total Assets
$13.2B
EPS (Diluted)
$8.45
Operating Cash Flow
$1.0B
Source: XBRL data from Carvana FY2025 10-K filing on SEC EDGAR. All figures in USD.
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