Carvana (CVNA) FY2019 results: revenue $3.9 billion, up 101.5% on the year
Carvana Co. (CVNA) reported revenue of $3.9 billion for fiscal 2019, the year ended 31 December 2019, up 101.5% on the year before. Net income was -$115 million, and diluted earnings per share $-0.49. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$3.9 billion
+101.5% on the year
FY2015FY2019
Operating margin
n/a
FY2015FY2019
Net income
-$115 million
FY2015FY2019
Diluted EPS
-$0.49
FY2015FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
3,940
1,955
859
+101.5%
Cost of revenue
3,433
1,759
791
+95.2%
Gross profit
506
197
68.1
+157.4%
Gross margin
12.9%
10.1%
7.9%
Selling, general and administrative
787
425
223
+85.0%
Interest expense
81.0
25.0
7.7
+223.8%
Income tax
0.0
0.0
0.0
Net income
-115
-55.5
-62.8
Net margin
-2.9%
-2.8%
-7.3%
Diluted EPS
-$0.49
n/a
n/a
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
-757
-414
-200
Capital expenditure
231
144
78.5
+60.8%
Free cash flow
-988
-558
-278
Free cash flow margin
-25.1%
-28.5%
-32.4%
Cash from investing
-228
-150
-78.5
Cash from financing
1,015
466
416
+117.6%
Share-based compensation
33.1
24.1
5.6
+37.2%
Dividends paid
n/a
4.6
0.0
Diluted shares, weighted
234m
n/a
n/a
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
98.1
79.7
126
+23.1%
Non-controlling interest
93.8
148
154
-36.5%
Debt
1,501
633
302
+136.9%
Operating lease liabilities
116
0.0
n/a
Other liabilities
249
130
59.2
+91.4%
Total liabilities and equity
2,058
991
641
+107.6%
Fixed assets
n/a
297
149
Goodwill
9.4
9.4
0.0
0.0%
Intangible assets
7.2
8.9
0.0
-18.5%
Securities held for sale or to maturity
98.8
n/a
n/a
Cash and equivalents
76.0
78.9
173
-3.6%
Receivables
39.9
33.1
14.1
+20.4%
Inventory
763
412
227
+85.0%
Other assets
1,064
152
78.2
+601.1%
Total assets
2,058
991
641
+107.6%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.