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Autonation vs Carvana: revenue, profit, margins and growth compared

Autonation brought in $27.6B of revenue in fiscal 2025, Carvana $20.3B in fiscal 2025. Revenue changed by +3.2% at Autonation and +48.6% at Carvana on the year before, so Carvana grew faster. Autonation kept 2.3% of its revenue as net profit, Carvana 6.9%. Free cash flow was -$197.5M at Autonation and $889M at Carvana.

Side by side, latest fiscal year

ANCVNA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$27.6B$20.3B
Revenue growth+3.2%+48.6%
Net income$649.1M$1.4B
Net margin2.3%6.9%
Free cash flow-$197.5M$889M
Free cash flow margin-0.7%4.4%
Earnings per share (diluted)$17.04$8.45
Cash$58.6M$2.3B
Debt$3.8B$4.9B
Price to earnings9.87.7
Market value$5.5B$71.6B
Dividend yieldn/an/a
Rank by revenue in sector#38 of 778 · Consumer discretionary#59 of 778 · Consumer discretionary

Over the years

Revenue
AN FY2018: $21.4BAN FY2019: $21.3BAN FY2020: $20.4BAN FY2021: $25.8BAN FY2022: $27BAN FY2023: $26.9BAN FY2024: $26.8BAN FY2025: $27.6BCVNA FY2018: $2BCVNA FY2019: $3.9BCVNA FY2020: $5.6BCVNA FY2021: $12.8BCVNA FY2022: $13.6BCVNA FY2023: $10.8BCVNA FY2024: $13.7BCVNA FY2025: $20.3BFY18FY19FY20FY21FY22FY23FY24FY25
AN $27.6BCVNA $20.3B
Net income
AN FY2018: $396MAN FY2019: $450MAN FY2020: $381.6MAN FY2021: $1.4BAN FY2022: $1.4BAN FY2023: $1BAN FY2024: $692.2MAN FY2025: $649.1MCVNA FY2018: -$55.5MCVNA FY2019: -$115MCVNA FY2020: -$171MCVNA FY2021: -$135MCVNA FY2022: -$1.6BCVNA FY2023: $450MCVNA FY2024: $210MCVNA FY2025: $1.4BFY18FY19FY20FY21FY22FY23FY24FY25
AN $649.1MCVNA $1.4B
Net margin
AN FY2018: 1.8%AN FY2019: 2.1%AN FY2020: 1.9%AN FY2021: 5.3%AN FY2022: 5.1%AN FY2023: 3.8%AN FY2024: 2.6%AN FY2025: 2.3%CVNA FY2018: -2.8%CVNA FY2019: -2.9%CVNA FY2020: -3.1%CVNA FY2021: -1.1%CVNA FY2022: -11.7%CVNA FY2023: 4.2%CVNA FY2024: 1.5%CVNA FY2025: 6.9%FY18FY19FY20FY21FY22FY23FY24FY25
AN 2.3%CVNA 6.9%
Revenue growth
AN FY2019: -0.4%AN FY2020: -4.4%AN FY2021: +26.7%AN FY2022: +4.4%AN FY2023: -0.1%AN FY2024: -0.7%AN FY2025: +3.2%CVNA FY2019: +101.5%CVNA FY2020: +41.8%CVNA FY2021: +129.4%CVNA FY2022: +6.2%CVNA FY2023: -20.8%CVNA FY2024: +26.9%CVNA FY2025: +48.6%FY19FY20FY21FY22FY23FY24FY25
AN +3.2%CVNA +48.6%
Free cash flow
AN FY2018: $110.2MAN FY2019: $499.9MAN FY2020: $1.1BAN FY2021: $1.4BAN FY2022: $1.3BAN FY2023: $313.7MAN FY2024: -$13.8MAN FY2025: -$197.5MCVNA FY2018: -$558MCVNA FY2019: -$988MCVNA FY2020: -$968MCVNA FY2021: -$3.2BCVNA FY2022: -$1.8BCVNA FY2023: $716MCVNA FY2024: $827MCVNA FY2025: $889MFY18FY19FY20FY21FY22FY23FY24FY25
AN -$197.5MCVNA $889M

Fiscal years as each company reports them; the two may end in different months.

Questions about Autonation and Carvana

Which is bigger by revenue, Autonation or Carvana?

Autonation is bigger by revenue: $27.6B in fiscal 2025, against $20.3B for Carvana in fiscal 2025.

Which keeps more of its revenue as profit, Autonation or Carvana?

Autonation had a net margin of 2.3% in fiscal 2025; Carvana had 6.9% in fiscal 2025.

Which grew revenue faster, Autonation or Carvana?

In their latest fiscal years revenue changed by +3.2% at Autonation and +48.6% at Carvana.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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