Last 39 quarters of trend data · Consumer Cyclical · Specialty Retail
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Carvana Co.'s quarterly P/E stands at 91.6x, up 34.6% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 37.1% YoY to 23.8x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 39.55 | 91.56 | 65.81 | 34.62 | 90.79 | 68.01 | 229.86 | 87.91 | — | 2.76 | — | — | — |
| — | +34.6% | -71.4% | -60.6% | — | +2360.5% | — | — | — | — | — | — | — | |
| P/S Ratio | 1.25 | 2.44 | 2.49 | 1.76 | 2.00 | 1.59 | 1.21 | 0.84 | 0.62 | 0.42 | 0.23 | 0.10 | 0.04 |
| — | +53.6% | +105.6% | +110.9% | +221.8% | +281.5% | +422.7% | +738.7% | +1308.4% | +162.8% | +57.3% | -87.0% | -96.7% | |
| P/B Ratio | 17.83 | 18.70 | 22.80 | 16.81 | 20.68 | 81.31 | 143.79 | — | — | — | — | — | — |
| — | -77.0% | -84.1% | — | — | — | — | — | — | — | — | — | — | |
| P/FCF | 28.61 | 44.94 | — | 36.36 | 197.51 | 15.46 | 12.45 | 30.79 | — | 1.99 | 1.40 | — | — |
| — | +190.6% | — | +18.1% | — | +675.6% | +788.2% | — | — | — | — | — | — | |
| EV / EBITDA | 12.62 | 23.79 | 22.60 | 18.20 | 23.89 | 17.35 | 16.47 | 18.90 | 67.87 | 19.26 | 20.04 | — | — |
| — | +37.1% | +37.2% | -3.7% | -64.8% | -9.9% | -17.8% | — | — | — | — | — | — | |
| EV / EBIT | 12.62 | 38.22 | 29.11 | 16.54 | 26.95 | 23.46 | 24.93 | 18.56 | — | 2.84 | 52.92 | — | — |
| — | +62.9% | +16.8% | -10.9% | — | +726.6% | -52.9% | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Carvana Co.'s operating margin was 9.8% in Q3 2025, down 0.8 pp QoQ and up 0.5 pp YoY. Gross margin contracted 3.1% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 20.6% | 20.3% | 21.2% | 21.0% | 20.4% | 21.0% | 19.8% | 17.9% | 14.8% | 15.8% | 16.8% | 9.7% | 4.1% |
| — | -3.1% | +7.4% | +17.1% | +37.4% | +33.2% | +17.6% | +84.4% | +259.1% | +85.9% | +94.9% | +29.6% | -68.1% | |
| Operating Margin | 9.3% | 9.8% | 10.6% | 9.3% | 7.6% | 9.2% | 7.6% | 4.4% | -1.5% | 1.8% | 1.4% | -5.0% | -15.5% |
| — | +5.7% | +39.0% | +111.1% | +596.8% | +423.4% | +438.8% | +187.7% | +90.1% | +120.1% | +116.9% | +59.0% | -458.4% | |
| Net Margin | 6.9% | 2.7% | 3.8% | 5.1% | 2.2% | 2.3% | 0.5% | 0.9% | -4.7% | 28.2% | -2.0% | -6.1% | -28.4% |
| — | +15.0% | +616.2% | +458.0% | +147.4% | -91.8% | +127.0% | +114.9% | +83.4% | +437.4% | +68.1% | +17.4% | -1098.0% |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 50.4% | 6.0% | 9.4% | 13.7% | 9.5% | 42.4% | 15.7% | — | — | — | — | — | — |
| — | -85.9% | -39.9% | — | — | — | — | — | — | — | — | — | — | |
| ROA | 13.0% | 1.6% | 2.0% | 2.5% | 1.0% | 1.2% | 0.3% | 0.4% | -1.6% | 10.5% | -0.7% | -1.8% | -8.8% |
| — | +34.4% | +688.6% | +524.4% | +161.6% | -88.9% | +136.2% | +121.6% | +81.6% | +473.8% | +73.3% | +48.2% | -511.8% | |
| ROIC | 34.3% | 6.4% | 6.2% | 5.1% | 3.6% | 4.5% | 3.4% | 1.7% | -0.5% | 0.6% | 0.5% | -1.4% | -4.3% |
| — | +43.4% | +85.6% | +191.9% | +838.5% | +638.4% | +624.2% | +227.8% | +88.6% | +122.6% | +114.2% | +73.8% | -179.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Carvana Co.'s Debt/EBITDA ratio is 9.3x, down from 10.5x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 24.6% YoY to 4.05x, strengthening the short-term liquidity position. Debt/Equity has declined for 6 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.15 | 1.95 | 2.89 | 3.41 | 4.40 | 21.49 | 53.45 | — | — | — | — | — | — |
| — | -90.9% | -94.6% | — | — | — | — | — | — | — | — | — | — | |
| Debt / EBITDA | 0.34 | 9.32 | 10.51 | 12.94 | 17.63 | 14.95 | 18.29 | 29.66 | 149.02 | 47.57 | 63.42 | — | — |
| — | -37.7% | -42.5% | -56.4% | -88.2% | -68.6% | -71.2% | — | — | — | — | — | — | |
| Current Ratio | 4.31 | 4.05 | 4.00 | 3.81 | 3.64 | 3.25 | 3.11 | 2.54 | 2.16 | 2.28 | 1.80 | 1.62 | 1.77 |
| — | +24.6% | +28.7% | +50.3% | +68.3% | +42.2% | +73.2% | +56.6% | +22.0% | -4.0% | -22.6% | +19.5% | +4.7% | |
| Quick Ratio | 2.73 | 2.55 | 2.58 | 2.70 | 2.44 | 2.12 | 2.02 | 1.62 | 1.41 | 1.51 | 1.20 | 1.10 | 1.05 |
| — | +20.2% | +27.7% | +66.0% | +72.4% | +40.9% | +68.5% | +47.9% | +34.8% | +49.5% | +8.0% | +132.7% | +73.9% | |
| Interest Coverage | 3.72 | 4.42 | 3.59 | 2.83 | 1.82 | 2.15 | 1.50 | 0.78 | -0.22 | 0.32 | 0.27 | -0.82 | -2.87 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 39 years · Updated daily
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorSee our Bear / Base / Bull DCF models and intrinsic value estimates.
View ValuationCompare performance and metrics against top competitors.
Start ComparisonCarvana Co.'s current P/E is 39.5x. The average P/E over the last 4 quarters is 70.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Carvana Co.'s current operating margin is 9.3%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Carvana Co.'s business trajectory between earnings reports.