CVNA NYSE Automotive Retail Financials FY2016βFY2025
Carvana had $20.3B of revenue in fiscal 2025, up 48.6% on the year before. Over five years, revenue changed +29.5% a year on average.
Hi! I read Carvanaβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+48.6%
Yes. Sales grew 48.6% last year.
Does it make a profit?
6.9%
A little. It keeps 6.9% of every sale as profit.
Does profit turn into cash?
4.4%
Partly. 4.4% of sales ends up as free cash.
How healthy are the accounts?
6 / 9
Mixed. It passes 6 of 9 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
About these figures. Carvana tags its depreciation and amortization with its own label, which the SEC's structured data leaves out, so EBITDA-based figures are left blank.
Is it selling more, and how much does it keep?
KIRA Β· Carvana had $20.3B of revenue in fiscal 2025, up 48.6% on the year before. Over five years, revenue changed +29.5% a year on average. Its operating margin was 9.3%, up 2.0Β pts: of every 100 in sales, about 9 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Carvana made $1.4B of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $889M in fiscal 2025, 4.4% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· Carvana returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 69.6%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders bought $1.5M and sold $274M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$1.5M
1 insider
Sold, 12 months
$274M
11 insiders
Of sales under plans
89%
$244M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 12, 2026 | Thomas TairaPresident, Special Projects | Sold plan | 5,597 | $65.00 | $0.4M | Form 4 |
| Oct 1, 2026 | Stephen R PalmerVice President of Accounting | Sold plan | 5,000 | $61.64 | $0.3M | Form 4 |
| Oct 1, 2026 | Mark W. JenkinsChief Financial Officer | Sold plan | 63,750 | $61.64 | $3.9M | Form 4 |
| Sep 14, 2026 | Thomas TairaPresident, Special Projects | Sold plan | 16,789 | $70.58 | $1.2M | Form 4 |
| Sep 1, 2026 | Stephen R PalmerVice President of Accounting | Sold plan | 5,000 | $71.55 | $0.4M | Form 4 |
| Sep 1, 2026 | Benjamin E. HustonChief Operating Officer | Sold plan | 50,000 | $71.55 | $3.6M | Form 4 |
| Sep 1, 2026 | Mark W. JenkinsChief Financial Officer | Sold plan | 63,750 | $71.55 | $4.6M | Form 4 |
| Aug 14, 2026 | Ira J. PlattDirector | Sold | 15,000 | $75.50 | $1.1M | Form 4 |
| Aug 14, 2026 | J Danforth QuayleDirector | Sold plan | 14,525 | $75.00 | $1.1M | Form 4 |
| Aug 13, 2026 | Ira J. PlattDirector | Sold | 15,000 | $73.00 | $1.1M | Form 4 |
| Aug 3, 2026 | Stephen R PalmerVice President of Accounting | Sold plan | 5,000 | $64.49 | $0.3M | Form 4 |
| Aug 3, 2026 | Benjamin E. HustonChief Operating Officer | Sold plan | 50,000 | $64.50 | $3.2M | Form 4 |
| Aug 3, 2026 | Mark W. JenkinsChief Financial Officer | Sold plan | 63,750 | $64.50 | $4.1M | Form 4 |
| Jul 31, 2026 | Michael E MarooneDirector | Bought | 25,000 | $61.80 | $1.5M | Form 4 |
| Jul 1, 2026 | Benjamin E. HustonChief Operating Officer | Sold plan | 50,000 | $68.55 | $3.4M | Form 4 |
| Jul 1, 2026 | Mark W. JenkinsChief Financial Officer | Sold plan | 63,750 | $68.34 | $4.4M | Form 4 |
| Jul 1, 2026 | Stephen R PalmerVice President of Accounting | Sold plan | 5,000 | $68.53 | $0.3M | Form 4 |
| Jun 15, 2026 | Ira J. PlattDirector | Sold | 15,000 | $67.83 | $1.0M | Form 4 |
| Jun 10, 2026 | J Danforth QuayleDirector | Sold plan | 14,525 | $70.00 | $1.0M | Form 4 |
| Jun 8, 2026 | Thomas TairaPresident, Special Projects | Sold plan | 5,597 | $67.15 | $0.4M | Form 4 |
| Jun 1, 2026 | Mark W. JenkinsChief Financial Officer | Sold plan | 63,750 | $70.40 | $4.5M | Form 4 |
| Jun 1, 2026 | Stephen R PalmerVice President of Accounting | Sold plan | 5,000 | $70.42 | $0.4M | Form 4 |
| Jun 1, 2026 | Benjamin E. HustonChief Operating Officer | Sold plan | 50,000 | $70.39 | $3.5M | Form 4 |
| May 8, 2026 | Thomas TairaPresident, Special Projects | Sold plan | 5,590 | $79.97 | $0.4M | Form 4 |
| May 1, 2026 | Mark W. JenkinsChief Financial Officer | Sold plan | 12,750 | $387.19 | $4.9M | Form 4 |
| May 1, 2026 | Stephen R PalmerVice President of Accounting | Sold plan | 1,000 | $395.32 | $0.4M | Form 4 |
| May 1, 2026 | Benjamin E. HustonChief Operating Officer | Sold plan | 10,000 | $384.96 | $3.8M | Form 4 |
| Apr 8, 2026 | Thomas TairaPresident, Special Projects | Sold plan | 3,770 | $341.00 | $1.3M | Form 4 |
| Apr 1, 2026 | Mark W. JenkinsChief Financial Officer | Sold plan | 12,750 | $310.35 | $4.0M | Form 4 |
| Apr 1, 2026 | Stephen R PalmerVice President of Accounting | Sold plan | 1,000 | $317.50 | $0.3M | Form 4 |
| Apr 1, 2026 | Benjamin E. HustonChief Operating Officer | Sold plan | 10,000 | $309.86 | $3.1M | Form 4 |
| Mar 16, 2026 | Michael E MarooneDirector | Sold | 2 | $310.76 | $0.0M | Form 4 |
| Mar 9, 2026 | Thomas TairaPresident, Special Projects | Sold plan | 953 | $325.00 | $0.3M | Form 4 |
| Mar 9, 2026 | J Danforth QuayleDirector | Sold | 2,900 | $309.97 | $0.9M | Form 4 |
| Mar 2, 2026 | Mark W. JenkinsChief Financial Officer | Sold plan | 12,750 | $323.15 | $4.1M | Form 4 |
| Mar 2, 2026 | Benjamin E. HustonChief Operating Officer | Sold plan | 10,000 | $322.67 | $3.2M | Form 4 |
| Mar 2, 2026 | Stephen R PalmerVice President of Accounting | Sold plan | 1,000 | $324.84 | $0.3M | Form 4 |
| Feb 9, 2026 | Michael E MarooneDirector | Sold | 3 | $411.61 | $0.0M | Form 4 |
| Feb 9, 2026 | Thomas TairaPresident, Special Projects | Sold plan | 1,047 | $398.54 | $0.4M | Form 4 |
| Feb 2, 2026 | Stephen R PalmerVice President of Accounting | Sold plan | 1,000 | $393.04 | $0.4M | Form 4 |
| Feb 2, 2026 | Benjamin E. HustonChief Operating Officer | Sold plan | 10,000 | $411.27 | $4.1M | Form 4 |
| Feb 2, 2026 | Mark W. JenkinsChief Financial Officer | Sold plan | 12,750 | $410.19 | $5.2M | Form 4 |
| Jan 8, 2026 | Thomas TairaPresident, Special Projects | Sold plan | 1,174 | $447.00 | $0.5M | Form 4 |
| Jan 8, 2026 | Michael E MarooneDirector | Bought | 5 | $441.36 | $0.0M | Form 4 |
| Jan 2, 2026 | Mark W. JenkinsChief Financial Officer | Sold plan | 12,750 | $403.02 | $5.1M | Form 4 |
| Jan 2, 2026 | Stephen R PalmerVice President of Accounting | Sold plan | 1,000 | $419.48 | $0.4M | Form 4 |
| Jan 2, 2026 | Benjamin E. HustonChief Operating Officer | Sold plan | 10,000 | $401.94 | $4.0M | Form 4 |
| Dec 12, 2025 | Thomas TairaPresident, Special Projects | Sold plan | 10,000 | $475.00 | $4.8M | Form 4 |
| Dec 12, 2025 | Paul W. BreauxSee Remarks | Sold plan | 1,527 | $475.00 | $0.7M | Form 4 |
| Dec 12, 2025 | Benjamin E. HustonChief Operating Officer | Sold plan | 20,000 | $475.00 | $9.5M | Form 4 |
| Dec 12, 2025 | Daniel J. GillChief Product Officer | Sold plan | 40,000 | $475.24 | $19.0M | Form 4 |
| Dec 11, 2025 | Paul W. BreauxSee Remarks | Sold plan | 8,473 | $475.00 | $4.0M | Form 4 |
| Dec 8, 2025 | Benjamin E. HustonChief Operating Officer | Sold plan | 40,000 | $439.50 | $17.6M | Form 4 |
| Dec 8, 2025 | Daniel J. GillChief Product Officer | Sold plan | 80,000 | $439.50 | $35.2M | Form 4 |
| Dec 8, 2025 | Thomas TairaPresident, Special Projects | Sold plan | 30,952 | $435.96 | $13.5M | Form 4 |
| Dec 8, 2025 | Paul W. BreauxSee Remarks | Sold plan | 20,000 | $438.50 | $8.8M | Form 4 |
| Dec 3, 2025 | Michael E MarooneDirector | Sold plan | 30,928 | $400.34 | $12.4M | Form 4 |
| Dec 3, 2025 | Ryan S. KeetonChief Brand Officer | Sold | 10,000 | $400.00 | $4.0M | Form 4 |
| Dec 3, 2025 | Thomas TairaPresident, Special Projects | Sold plan | 25,000 | $400.00 | $10.0M | Form 4 |
| Dec 1, 2025 | Stephen R PalmerVice President of Accounting | Sold plan | 1,000 | $372.31 | $0.4M | Form 4 |
| Dec 1, 2025 | Mark W. JenkinsChief Financial Officer | Sold plan | 12,750 | $376.07 | $4.8M | Form 4 |
| Dec 1, 2025 | Benjamin E. HustonChief Operating Officer | Sold plan | 10,000 | $377.11 | $3.8M | Form 4 |
| Nov 28, 2025 | Ryan S. KeetonChief Brand Officer | Sold | 10,000 | $375.04 | $3.8M | Form 4 |
| Nov 28, 2025 | Thomas TairaPresident, Special Projects | Sold plan | 10,000 | $375.01 | $3.8M | Form 4 |
| Nov 25, 2025 | Ryan S. KeetonChief Brand Officer | Sold | 10,000 | $350.00 | $3.5M | Form 4 |
| Nov 12, 2025 | Gregory B SullivanDirector | Sold | 2,500 | $340.00 | $0.9M | Form 4 |
| Nov 10, 2025 | Ryan S. KeetonChief Brand Officer | Sold | 10,000 | $325.03 | $3.3M | Form 4 |
| Nov 10, 2025 | Thomas TairaPresident, Special Projects | Sold plan | 952 | $325.00 | $0.3M | Form 4 |
| Nov 4, 2025 | Gregory B SullivanDirector | Sold | 2,500 | $322.20 | $0.8M | Form 4 |
| Nov 3, 2025 | Benjamin E. HustonChief Operating Officer | Sold plan | 10,000 | $324.57 | $3.2M | Form 4 |
| Nov 3, 2025 | Stephen R PalmerVice President of Accounting | Sold plan | 1,000 | $305.00 | $0.3M | Form 4 |
| Nov 3, 2025 | Mark W. JenkinsChief Financial Officer | Sold plan | 12,750 | $323.35 | $4.1M | Form 4 |
| Oct 31, 2025 | Ryan S. KeetonChief Brand Officer | Sold | 32,370 | $301.68 | $9.8M | Form 4 |
| Oct 9, 2025 | Ernest C. Garcia IIIChief Executive Officer, Director, 10% owner | Sold plan | 2,323 | $355.13 | $0.8M | Form 4 |
| Oct 8, 2025 | Ernest C. Garcia IIIChief Executive Officer, Director, 10% owner | Sold plan | 5,866 | $365.46 | $2.1M | Form 4 |
| Oct 7, 2025 | Ernest C. Garcia IIIChief Executive Officer, Director, 10% owner | Sold plan | 7,365 | $370.95 | $2.7M | Form 4 |
| Oct 6, 2025 | Ernest C. Garcia IIIChief Executive Officer, Director, 10% owner | Sold plan | 6,591 | $372.40 | $2.5M | Form 4 |
| Oct 3, 2025 | Ernest C. Garcia IIIChief Executive Officer, Director, 10% owner | Sold plan | 4,050 | $380.47 | $1.5M | Form 4 |
| Oct 3, 2025 | Ernest C. Garcia IIIChief Executive Officer, Director, 10% owner | Sold plan | 1,700 | $390.91 | $0.7M | Form 4 |
| Oct 2, 2025 | Ernest C. Garcia IIIChief Executive Officer, Director, 10% owner | Sold plan | 6,646 | $394.21 | $2.6M | Form 4 |
| Oct 1, 2025 | Stephen R PalmerVice President of Accounting | Sold plan | 1,000 | $390.14 | $0.4M | Form 4 |
| Oct 1, 2025 | Ernest C. Garcia IIIChief Executive Officer, Director, 10% owner | Sold plan | 1,901 | $392.98 | $0.7M | Form 4 |
| Oct 1, 2025 | Ernest C. Garcia IIIChief Executive Officer, Director, 10% owner | Sold plan | 3,099 | $386.66 | $1.2M | Form 4 |
| Oct 1, 2025 | Mark W. JenkinsChief Financial Officer | Sold plan | 12,750 | $389.27 | $5.0M | Form 4 |
| Oct 1, 2025 | Benjamin E. HustonChief Operating Officer | Sold plan | 10,000 | $389.27 | $3.9M | Form 4 |
| Oct 1, 2025 | Paul W. BreauxSee Remarks | Sold plan | 15,000 | $398.00 | $6.0M | Form 4 |
| Sep 30, 2025 | Ernest C. Garcia IIIChief Executive Officer, Director, 10% owner | Sold plan | 480 | $390.27 | $0.2M | Form 4 |
| Sep 30, 2025 | Ernest C. Garcia IIIChief Executive Officer, Director, 10% owner | Sold plan | 5,170 | $379.58 | $2.0M | Form 4 |
| Sep 29, 2025 | Ernest C. Garcia IIIChief Executive Officer, Director, 10% owner | Sold plan | 2,400 | $390.75 | $0.9M | Form 4 |
| Sep 29, 2025 | Ernest C. Garcia IIIChief Executive Officer, Director, 10% owner | Sold plan | 4,000 | $385.05 | $1.5M | Form 4 |
Can it carry its debts, and how well does it use its money?
KIRA Β· Carvana owes $2.7B more than it holds in cash.
Cash, debt and the ratios that show how comfortably Carvana can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $403M | $434M | $530M | $1.7B | $2.3B |
| Debt incl. finance leases | $2.9B | $6.9B | $5.4B | $5.5B | $5.1B |
| Debt / equity | β | β | β | 4.4x | 1.5x |
| Interest coverage | 0.2x | β4.8x | β0.1x | 1.5x | 3.7x |
| Current ratio | 1.7x | 1.8x | 2.2x | 3.6x | 4.3x |
| Quick ratio | 0.6x | 1.1x | 1.4x | 2.4x | 2.7x |
| Total assets | $7.0B | $8.7B | $7.1B | $8.5B | $13.2B |
| Total liabilities | $6.5B | $9.8B | $7.5B | $7.1B | $9.0B |
| Shareholders' equity | $306M | β$518M | $243M | $1.3B | $3.4B |
| Net debt (β = net cash) | $2.5B | $6.4B | $4.9B | $3.8B | $2.7B |
KIRA Β· Its return on capital was 24.6%: every 100 invested in the business earned about 25 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Carvana passes 6 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | β | β | β |
| Cash from operations is positive | β | β | β |
| Return on assets rose | β | β | β |
| Cash from operations exceeds net income | β | β | β |
| Debt fell relative to assets | β | β | β |
| Current ratio rose | β | β | β |
| Share count didn't rise | β | β | β |
| Gross margin rose | β | β | β |
| Revenue rose relative to assets | β | β | β |
| F-score | 7 / 9 | 7 / 9 | 6 / 9 |
| Accruals ratio | β4.5% | β9.1% | 3.4% |
| Altman Z'' | 0.78 | 3.17 | 3.95 |
What does the share cost, and how does it compare?
KIRA Β· At $56.61 a share, the company is worth $41.9B.
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets β the answer depends entirely on what you put in.
In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.
Value per share
β
Adds net cash of β$2.7B and divides by 224.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Value per share
β
Reference multiples: today β Β· peers 13.2x Β· sector 17.8x.
KIRA Β· Carvana grew sales faster than 4 of its 4 similar companies.
Each companyβs latest fiscal year. Fiscal years end in different months, so periods donβt line up exactly.
In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Carvana CVNA | $41.9B | 48.6% | 9.3% | 4.4% | 24.6% | β | 6 | |
| Murphy USA MUSA | $10.0B | β4.3% | 3.7% | 1.9% | 20.5% | 16.5x | 5 | Compare β |
| AutoZone AZO | $53.9B | 2.4% | 19.1% | 9.5% | 58.2% | 21.9x | 6 | Compare β |
| Group 1 Automotive GPI | $2.9B | 13.2% | 3.3% | 1.9% | 8.6% | 10.1x | 5 | Compare β |
| Asbury Automotive Group ABG | $3.2B | 4.7% | 4.8% | β | 9.2% | 6.5x | 6 | Compare β |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $365M | $859M | $2.0B | $3.9B | $5.6B | $12.8B | $13.6B | $10.8B | $13.7B | $20.3B |
| Gross profit | $19.2M | $68.1M | $197M | $507M | $794M | $1.9B | $1.2B | $1.7B | $2.9B | $4.2B |
| Operating income | β | β | β | β | β | β | β$2.4B | β$80.0M | $990M | $1.9B |
| Interest expense | $3.6M | $7.7M | $25.0M | $81.0M | $131M | $176M | $486M | $632M | $651M | $505M |
| Pretax income | β$93.1M | β$62.8M | β$55.5M | β$115M | β$171M | β$134M | β$1.6B | $475M | $206M | β$1.4B |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $1.0M | $1.0M | $25.0M | β$4.0M | β$2.8B |
| Net income | β$93.1M | β$62.8M | β$55.5M | β$115M | β$171M | β$135M | β$1.6B | $450M | $210M | $1.4B |
| Diluted EPS | β | β | β | β$2.45 | β$2.63 | β$1.63 | β$15.74 | $0.75 | $1.59 | $8.45 |
| Diluted shares | β | β | β | 0.05B | 0.07B | 0.08B | 0.10B | 0.20B | 0.13B | 0.22B |
| Cash flow | ||||||||||
| Cash from operations | β$240M | β$200M | β$414M | β$757M | β$608M | β$2.6B | β$1.3B | $803M | $918M | $1.0B |
| Capital expenditure | $39.5M | $78.5M | $144M | $231M | $360M | $557M | $512M | $87.0M | $91.0M | $147M |
| Free cash flow | β$280M | β$278M | β$558M | β$988M | β$968M | β$3.2B | β$1.8B | $716M | $827M | $889M |
| Stock-based compensation | $0.6M | $5.6M | $24.1M | $33.0M | $25.0M | $39.0M | $69.0M | $73.0M | $91.0M | $96.0M |
| Acquisitions | $0.0M | $0.0M | $6.7M | $0.0M | $0.0M | $0.0M | $2.2B | $7.0M | $0.0M | $160M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends paid | $0.0M | $0.0M | $4.6M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends and buybacks | $0.0M | $0.0M | $4.6M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $39.2M | $173M | $78.9M | $76.0M | $301M | $403M | $434M | $530M | $1.7B | $2.3B |
| Total debt | $171M | $302M | $633M | $717M | $1.2B | $2.7B | $6.5B | $5.2B | $5.3B | $4.9B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $51.5M | $110M | $206M | $374M | $267M | $183M | $157M |
| Current assets | $275M | $490M | $663M | $1.4B | $1.9B | $4.9B | $4.6B | $3.3B | $4.9B | $6.5B |
| Current liabilities | $196M | $306M | $330M | $865M | $467M | $2.9B | $2.6B | $1.5B | $1.3B | $1.5B |
| Inventory | $186M | $227M | $412M | $763M | $1.0B | $3.1B | $1.9B | $1.2B | $1.6B | $2.4B |
| Property and equipment, net | $60.6M | $149M | $297M | $544M | $909M | $1.6B | $3.2B | $3.0B | $2.8B | $2.8B |
| Total assets | $336M | $641M | $991M | $2.1B | $3.0B | $7.0B | $8.7B | $7.1B | $8.5B | $13.2B |
| Total liabilities | $201M | $362M | $764M | $1.9B | $2.2B | $6.5B | $9.8B | $7.5B | $7.1B | $9.0B |
| Shareholders' equity | β | $126M | $79.7M | $98.1M | $388M | $306M | β$518M | $243M | $1.3B | $3.4B |
| Margins | ||||||||||
| Gross margin | 5.3% | 7.9% | 10.1% | 12.9% | 14.2% | 15.1% | 9.2% | 16.0% | 21.0% | 20.6% |
| Operating margin | β | β | β | β | β | β | β17.3% | β0.7% | 7.2% | 9.3% |
| Net margin | β25.5% | β7.3% | β2.8% | β2.9% | β3.1% | β1.1% | β11.7% | 4.2% | 1.5% | 6.9% |
| FCF margin | β76.6% | β32.4% | β28.5% | β25.1% | β17.3% | β24.6% | β13.5% | 6.7% | 6.1% | 4.4% |
| Returns | ||||||||||
| Return on capital | β | β | β4.0% | β3.2% | β2.3% | 1.4% | β44.0% | β1.5% | 20.5% | 24.6% |
| Return on capital employed | β | β23.3% | β6.1% | β3.7% | β2.1% | 1.3% | β46.0% | β1.4% | 15.6% | 20.0% |
| Return on equity | β | β | β54.0% | β129.4% | β70.4% | β38.9% | β | β | 27.9% | 59.9% |
| Return on assets | β | β12.9% | β6.8% | β7.5% | β6.7% | β2.7% | β20.2% | 5.7% | 2.7% | 13.0% |
| Growth | ||||||||||
| Revenue growth | 180.0% | 135.2% | 127.7% | 101.5% | 41.8% | 129.4% | 6.2% | β20.8% | 26.9% | 48.6% |
| Net income growth | β | β | β | β | β | β | β | β | β53.3% | 570.0% |
| EPS growth | β | β | β | β | β | β | β | β | 112.0% | 431.5% |
| FCF growth | β | β | β | β | β | β | β | β | 15.5% | 7.5% |
| Share count change | β | β | β | β | 38.7% | 27.4% | 21.8% | 98.9% | β34.1% | 69.6% |
| Financial health | ||||||||||
| Debt / equity | β | 2.4x | 8.0x | β | 3.4x | β | β | β | 4.4x | 1.5x |
| Interest coverage | β25.0x | β7.2x | β1.2x | β0.4x | β0.3x | 0.2x | β4.8x | β0.1x | 1.5x | 3.7x |
| Current ratio | 1.4x | 1.6x | 2.0x | 1.6x | 4.1x | 1.7x | 1.8x | 2.2x | 3.6x | 4.3x |
| Quick ratio | 0.5x | 0.9x | 0.8x | 0.7x | 1.9x | 0.6x | 1.1x | 1.4x | 2.4x | 2.7x |
| Capital allocation | ||||||||||
| Capex / revenue | 10.8% | 9.1% | 7.4% | 5.9% | 6.4% | 4.4% | 3.8% | 0.8% | 0.7% | 0.7% |
| Stock comp / revenue | 0.2% | 0.7% | 1.2% | 0.8% | 0.5% | 0.3% | 0.5% | 0.7% | 0.7% | 0.5% |
| Payouts / FCF | β | β | β | β | β | β | β | 0.0% | 0.0% | 0.0% |
| Quality scores | ||||||||||
| Piotroski F-score | β | β | β | β | 3.0 | 3.0 | 2.0 | 7.0 | 7.0 | 6.0 |
| Altman Z'' | β | 2.1 | 2.1 | 1.3 | 3.1 | 1.8 | β1.2 | 0.8 | 3.2 | 4.0 |
| Accruals ratio | β | 28.1% | 44.0% | 42.1% | 17.2% | 48.9% | β3.4% | β4.5% | β9.1% | 3.4% |
Source: SEC EDGAR XBRL filings (CIK 0001690820). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
