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The latest data point for CVNA's EV/EBITDA ratio in Q1'26 stands at 105.18, marking a substantial recovery from the sharply negative value of -137.48 in the prior quarter (Q4'25) and indicating improved valuation relative to earnings before interest, taxes, depreciation, and amortization. Over the period from Q2'23 to Q1'26, the EV/EBITDA ratio exhibited high volatility, starting with a negative -52.78 in Q2'23 before turning positive and climbing steadily to a peak of 55.39 in Q4'24, followed by fluctuations including a dip to 45.53 in Q1'25 and a renewed surge to 55.10 in Q3'25. The abrupt plunge to -137.48 in Q4'25 likely reflects temporary operational challenges or EBITDA pressures, but the sharp rebound to 105.18 in Q1'26 suggests strengthening fundamentals and potential overvaluation in the market's assessment of the company's growth trajectory. This area chart highlights an overall upward trend post-2023, with positive ratios dominating after the initial negative, underscoring CVNA's evolving profitability in the competitive automotive retail sector.