Carvana Co. (NYSE: CVNA)
Auto & Truck Dealerships · Tempe, AZ, United States · Founded 2012
- Market capitalization: $30.0 billion
- Annual revenue: $20.32 billion
- Net income: $1.41 billion
- Employees: 14,000
- Sector: Consumer Cyclical
- Headquarters: Tempe, United States
- Founded: 2012
Source: Statvoo company profile for Carvana Co.. Browse all 500+ companies
Carvana is an online used car retailer that lets customers buy, sell, and finance vehicles entirely online, with home delivery or pickup from one of its signature car vending machines. The company was on the brink of bankruptcy in 2022 before executing one of the most dramatic corporate turnarounds in recent memory. Ernie Garcia III founded Carvana in 2012. His father, Ernie Garcia II, is a controversial figure with a fraud conviction from the 1990s S&L crisis.
Carvana buys used cars (from consumers, auctions, and wholesale), reconditions them, and sells them online at a markup. The company also earns revenue from financing (originating auto loans and selling them), vehicle service contracts (extended warranties), and trade-ins. The car vending machines are marketing gimmicks that generate enormous free publicity. Revenue exceeds $12 billion annually.
Garcia founded Carvana in 2012 as a subsidiary of DriveTime (his father's used car company). IPO in April 2017 at $15 per share. The stock rocketed to $370 during COVID's used car boom, then crashed to $3.55 in December 2022 as the company faced potential bankruptcy under $9 billion in debt. A debt restructuring in 2023 and dramatic cost-cutting saved the company. The stock recovered to over $200 by 2024.
| Market Capitalization | $30.0B |
| Annual Revenue | $20.32B |
| Net Income | $1.41B |
| Profit Margin | 7% |
| Revenue per Employee | $1451429K |
| Stock Exchange | NYSE |
| Ticker Symbol | CVNA |
Financial data is approximate and based on most recent annual filings.
Carvana's stock went from $370 to $3.55 to $200+ in the span of three years u2014 one of the wildest rides in stock market history. The car vending machines hold up to 30 vehicles and dispense cars like a giant gumball machine. Garcia's father's fraud conviction and continued involvement in the company have drawn scrutiny. Carvana's turnaround was so dramatic that it became a case study in distressed debt investing.
Carvana's near-death experience and resurrection is one of the most remarkable corporate turnarounds in years u2014 the online used car model works when costs are controlled, but the debt load remains a risk if the market softens.
What is Carvana Co.'s revenue?
Carvana Co. generates approximately $20.32 billion in annual revenue.
How many employees does Carvana Co. have?
Carvana Co. employs approximately 14,000 people worldwide.
What is Carvana Co.'s market cap?
Carvana Co. (CVNA) has a market capitalization of approximately $30.0 billion on the NYSE.
When was Carvana Co. founded?
Carvana Co. was founded in 2012 and is headquartered in Tempe, AZ, United States.
Who is the CEO of Carvana Co.?
Ernie Garcia III is the current CEO of Carvana Co..
What is Carvana Co.'s website?
Carvana Co.'s official website is carvana.com.
| CEO | Ernie Garcia III |
| Sector | Consumer Cyclical |
| Industry | Auto & Truck Dealerships |
| Founded | 2012 |
| HQ | Tempe, AZ |
| Country | United States |
| Website | carvana.com |
See traffic, security, and technical data for Carvana Co.'s website:
📊 carvana.com stats 📋 WHOIS 🌐 DNS 🔒 SSL