Carvana (CVNA) FY2020 results: revenue $5.6 billion, up 41.8% on the year
Carvana Co. (CVNA) reported revenue of $5.6 billion for fiscal 2020, the year ended 31 December 2020, up 41.8% on the year before. Net income was -$171 million, and diluted earnings per share $-0.53. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$5.6 billion
+41.8% on the year
FY2015FY2020
Operating margin
n/a
FY2015FY2020
Net income
-$171 million
FY2015FY2020
Diluted EPS
-$0.53
FY2015FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,587
3,940
1,955
+41.8%
Cost of revenue
4,793
3,433
1,759
+39.6%
Gross profit
794
506
197
+56.7%
Gross margin
14.2%
12.9%
10.1%
Selling, general and administrative
1,126
787
425
+43.1%
Interest expense
131
81.0
25.0
+61.7%
Income tax
0.0
0.0
0.0
Net income
-171
-115
-55.5
Net margin
-3.1%
-2.9%
-2.8%
Diluted EPS
-$0.53
-$0.49
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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-608
-757
-414
Capital expenditure
360
231
144
+55.8%
Free cash flow
-968
-988
-558
Free cash flow margin
-17.3%
-25.1%
-28.5%
Cash from investing
-346
-228
-150
Cash from financing
1,165
1,015
466
+14.8%
Share-based compensation
25.0
33.1
24.1
-24.4%
Dividends paid
n/a
n/a
4.6
Diluted shares, weighted
325m
234m
n/a
+38.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
388
98.1
79.7
+295.1%
Non-controlling interest
414
93.8
148
+341.1%
Debt
1,722
1,501
633
+14.8%
Operating lease liabilities
148
116
0.0
+27.5%
Other liabilities
363
249
130
+45.7%
Total liabilities and equity
3,035
2,058
991
+47.5%
Fixed assets
n/a
n/a
297
Goodwill
9.0
9.4
9.4
-3.8%
Intangible assets
6.0
7.2
8.9
-17.0%
Securities held for sale or to maturity
131
98.8
n/a
+32.6%
Cash and equivalents
301
76.0
78.9
+295.7%
Receivables
79.0
39.9
33.1
+98.2%
Inventory
1,036
763
412
+35.9%
Other assets
1,472
1,064
152
+38.4%
Total assets
3,035
2,058
991
+47.5%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.