Carvana vs Lithia Motors
Lithia Motors is the larger business, with $37.63bn of revenue in fiscal 2025 against $20.32bn for Carvana (1.9 times as much). Carvana grew faster (48.6% against 4.0%). Carvana kept more of each dollar of sales as profit: a net margin of 6.9% against 2.2%. Lithia Motors carries less debt relative to equity (148.6% against 153.1%).
| Latest fiscal year | CarvanaCVNA, 2025 | Lithia MotorsLAD, 2025 |
|---|---|---|
| Revenue | $20.32bn | $37.63bn |
| Revenue growth | 48.6% | 4.0% |
| Net income | $1.41bn | $820m |
| Operating margin | 9.3% | 4.2% |
| Net margin | 6.9% | 2.2% |
| Return on equity | 59.9% | 12.4% |
| Free cash flow | $889m | $5.8m |
| Cash | $2.33bn | $391m |
| Total debt | $5.27bn | $9.81bn |
| Debt to equity | 153.1% | 148.6% |
| Dividend per share | — | $2.18 |
| Dividend yield | — | 0.8% |
| Share buybacks | — | $961m |
| Employees | 23,100 | — |
| Market value | $52.73bn | $6.48bn |
| Price vs our value range | Within our value range | — |
| Moat score | 20 (Weak) | 44 (Weak) |
| Insider trades, 12 months | 5 buys, 371 sales | 0 buys, 8 sales |