Carvana Co.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $1.41B | $210.0M | $450.0M | $-1.59B | $-135.0M | $-171.0M | $-115.0M | $-55.5M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $14.0M | $18.0M | $17.0M | $16.0M | $2.0M | $2.0M | $2.0M | $1.1M |
| Stock-Based Compensation | $96.0M | $91.0M | $73.0M | $69.0M | $39.0M | $25.0M | $33.0M | $24.1M |
| Net Cash from Operating Activities | $1.04B | $918.0M | $803.0M | $-1.32B | $-2.59B | $-608.0M | $-757.0M | $-414.3M |
| Investing Activities | ||||||||
| Capital Expenditures | $147.0M | $91.0M | $87.0M | $512.0M | $557.0M | $360.0M | $231.0M | $143.7M |
| Business Acquisitions | $160.0M | $0 | $7.0M | $2.20B | $0 | $0 | $0 | $6.7M |
| Net Cash from Investing Activities | $-230.0M | $-13.0M | $31.0M | $-2.58B | $-627.0M | $-346.0M | $-228.0M | $-150.3M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | $4.6M |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-137.0M | $261.0M | $-868.0M | $3.90B | $3.53B | $1.17B | $1.02B | $466.3M |
| Net Change in Cash | $669.0M | $1.17B | $-34.0M | $-8.0M | $307.0M | $211.0M | $30.0M | $-98.4M |
| Free Cash Flow | $889.0M | $827.0M | $716.0M | $-1.84B | $-3.15B | $-968.0M | $-988.0M | $-558.0M |