Carvana Co.
Carvana Co. returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
Pretax income is unavailable in the extracted statements for this period.
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
Pretax income is unavailable in the extracted statements for this period.
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Pretax income is unavailable in the extracted statements for this period.
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | — | 21.86% | — | 54.46% | 13.11% | — |
| FY 2026 Q1 | Mar 31, 2026 | — | 21.17% | — | 55.17% | 12.72% | — |
| FY 2025 Q4 | Dec 31, 2025 | — | 19.98% | — | 59.86% | 12.98% | — |
| FY 2025 Q3 | Sep 30, 2025 | — | 23.66% | — | 43.53% | 7.31% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | 21.46% | — | 49.91% | 6.81% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | 18.88% | — | 44.39% | 5.02% | — |
| FY 2024 Q4 | Dec 31, 2024 | — | 15.61% | — | 27.94% | 2.7% | — |
| FY 2024 Q3 | Sep 30, 2024 | — | 11.69% | — | 3.58% | 0.24% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | 6.88% | — | — | 9.51% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | 3.23% | — | — | 8.16% | — |
| FY 2023 Q4 | Dec 31, 2023 | — | -1.37% | — | — | 5.71% | — |
| FY 2023 Q3 | Sep 30, 2023 | — | — | — | -78.96% | -2.91% | — |
| FY 2023 Q2 | Jun 30, 2023 | — | — | — | — | -14.24% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | — | — | — | -18.32% | — |
| FY 2022 Q4 | Dec 31, 2022 | — | -45.96% | — | — | -20.2% | — |
| FY 2022 Q3 | Sep 30, 2022 | — | — | — | -264.04% | -11.61% | — |
| FY 2022 Q2 | Jun 30, 2022 | — | — | — | -131.42% | -8.21% | — |
| FY 2022 Q1 | Mar 31, 2022 | — | — | — | -161.35% | -6.3% | — |
| FY 2021 Q4 | Dec 31, 2021 | — | — | — | -38.93% | -2.69% | — |
| FY 2021 Q3 | Sep 30, 2021 | — | — | — | -26.81% | -2.7% | — |
| FY 2021 Q2 | Jun 30, 2021 | — | — | — | -20.37% | -2.39% | — |
| FY 2021 Q1 | Mar 31, 2021 | — | — | — | -72.16% | -4.86% | — |
| FY 2020 Q4 | Dec 31, 2020 | — | — | — | -70.47% | -6.72% | — |
| FY 2020 Q3 | Sep 30, 2020 | — | — | — | -55.57% | -6.74% | — |
| FY 2020 Q2 | Jun 30, 2020 | — | — | — | -64.63% | -9.16% | — |
| FY 2020 Q1 | Mar 31, 2020 | — | — | — | -340.52% | -9.32% | — |
| FY 2019 Q4 | Dec 31, 2019 | — | — | — | -133.7% | -7.52% | — |
| FY 2019 Q3 | Sep 30, 2019 | — | — | — | -114.5% | -8.48% | — |
| FY 2019 Q2 | Jun 30, 2019 | — | — | — | -67.99% | -8.48% | — |
| FY 2019 Q1 | Mar 31, 2019 | — | — | — | -98.09% | -8.09% | — |
| FY 2018 Q4 | Dec 31, 2018 | — | — | — | -67.63% | -7.57% | — |
| FY 2018 Q3 | Sep 30, 2018 | — | — | — | -63.9% | -4.51% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | — | — | -31.76% | -3.93% | — |
| FY 2018 Q1 | Mar 31, 2018 | — | — | — | — | — | — |
| FY 2017 Q4 | Dec 31, 2017 | — | — | — | — | — | — |
| FY 2017 Q3 | Sep 30, 2017 | — | — | — | — | — | — |
| FY 2017 Q2 | Jun 30, 2017 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · CVNA, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.