Carvana Co. (CVNA) Stock Falls on Q4 2025 Earnings

Carvana Co. ($CVNA) reported fourth-quarter 2025 results with total revenue of $5.6 billion, up 58.0% year‑over‑year and ahead of the consensus revenue estimate of $5.36 billion.

Key financial highlights:

Gross profit: $1.1 billion (up 37.8% YoY).

Operating profit: $424 million (up 63.1% YoY).

Net income attributable to common shareholders: $857 million (up 984.8% YoY).

Diluted earnings per share: $4.22 (up 627.6% YoY).

Cost of sales: $4.6 billion (up 63.5% YoY).

Cash flow and balance sheet snapshot:

Cash from operating activities: $430 million (up 616.7% YoY).

Purchases of property, plant and equipment (capex): $51 million (up 112.5% YoY).

Cash and cash equivalents: $2.3 billion (up 35.6% YoY).

Total liabilities: $9.0 billion (up 26.6% YoY).

Market response and context:

The company comfortably beat EPS expectations (consensus EPS roughly $1.13), delivering diluted EPS of $4.22.

Shares moved after the print, trading down about 9.6% since market close.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Carvana Co. Insider Trading Activity

Carvana Co. insiders have traded $CVNA stock on the open market 1115 times in the past 6 months. Of those trades, 0 have been purchases and 1115 have been sales.

Here’s a breakdown of recent trading of $CVNA stock by insiders over the last 6 months:

ERNEST C. III GARCIA (Chief Executive Officer) has made 0 purchases and 856 sales selling 352,880 shares for an estimated $130,549,752.
DANIEL J. GILL (Chief Product Officer) has made 0 purchases and 4 sales selling 120,000 shares for an estimated $54,169,696.
BENJAMIN E. HUSTON (Chief Operating Officer) has made 0 purchases and 108 sales selling 120,000 shares for an estimated $49,768,261.
THOMAS TAIRA (President, Special Projects) has made 0 purchases and 9 sales selling 79,125 shares for an estimated $33,245,450.
MARK W. JENKINS (Chief Financial Officer) has made 0 purchases and 112 sales selling 76,500 shares for an estimated $28,895,717.
PAUL W. BREAUX (See Remarks) has made 0 purchases and 6 sales selling 60,000 shares for an estimated $25,115,000.
RYAN S. KEETON (Chief Brand Officer) has made 0 purchases and 9 sales selling 72,370 shares for an estimated $24,266,204.
MICHAEL E MAROONE has made 0 purchases and 2 sales selling 30,928 shares for an estimated $12,381,668.
IRA J. PLATT sold 14,000 shares for an estimated $5,307,960
STEPHEN R PALMER (Vice President of Accounting) has made 0 purchases and 6 sales selling 6,000 shares for an estimated $2,241,010.
GREGORY B SULLIVAN has made 0 purchases and 2 sales selling 5,000 shares for an estimated $1,655,500.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Carvana Co. Hedge Fund Activity

We have seen 480 institutional investors add shares of Carvana Co. stock to their portfolio, and 428 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

VANGUARD GROUP INC added 3,328,115 shares (+24.7%) to their portfolio in Q4 2025, for an estimated $1,404,531,092
STATE STREET CORP added 2,764,759 shares (+93.7%) to their portfolio in Q4 2025, for an estimated $1,166,783,593
BLACKROCK, INC. added 1,900,552 shares (+19.4%) to their portfolio in Q4 2025, for an estimated $802,070,955
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 1,712,042 shares (-69.6%) from their portfolio in Q4 2025, for an estimated $722,515,964
CAPITAL RESEARCH GLOBAL INVESTORS added 1,711,144 shares (+42.9%) to their portfolio in Q4 2025, for an estimated $722,136,990
PRICE T ROWE ASSOCIATES INC /MD/ added 1,407,762 shares (+8.6%) to their portfolio in Q4 2025, for an estimated $594,103,719
GEODE CAPITAL MANAGEMENT, LLC added 1,382,852 shares (+55.4%) to their portfolio in Q4 2025, for an estimated $583,591,201

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Carvana Co. Analyst Ratings

Wall Street analysts have issued reports on $CVNA in the last several months. We have seen 8 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

JP Morgan issued a "Overweight" rating on 01/28/2026
BTIG issued a "Buy" rating on 01/15/2026
Wedbush issued a "Outperform" rating on 12/19/2025
Jefferies issued a "Buy" rating on 12/11/2025
UBS issued a "Buy" rating on 12/01/2025
Needham issued a "Buy" rating on 11/17/2025
Barclays issued a "Overweight" rating on 11/12/2025

To track analyst ratings and price targets for Carvana Co., check out Quiver Quantitative's $CVNA forecast page.

Carvana Co. Price Targets

Multiple analysts have issued price targets for $CVNA recently. We have seen 13 analysts offer price targets for $CVNA in the last 6 months, with a median target of $515.0.

Here are some recent targets:

Rajat Gupta from JP Morgan set a target price of $510.0 on 01/28/2026
Zachary Fadem from Wells Fargo set a target price of $525.0 on 01/27/2026
John Babcock from Barclays set a target price of $530.0 on 01/21/2026
Marvin Fong from BTIG set a target price of $535.0 on 01/15/2026
Joseph Spak from UBS set a target price of $545.0 on 01/14/2026
Michael McGovern from B of A Securities set a target price of $515.0 on 01/13/2026
Michael Montani from Evercore ISI Group set a target price of $425.0 on 12/23/2025