In the latest period of Q4'25, Carvana's (CVNA) Gross Margin stood at 18.8%, reflecting a decline from the prior quarter's 20.3%. Operating Margin was 7.6%, down slightly from 9.8% in Q3'25, while Net Profit Margin showed a strong rebound to 15.3%, up significantly from 2.7% in the previous quarter. Over the period from Q1'23 to Q4'25, Gross Margin exhibited a clear upward trend, rising from 13.1% to a peak of 22.1% in Q3'24 before stabilizing around 20-22% and then declining to 18.8%, indicating improved cost efficiencies followed by recent pressures. Operating Margin transitioned from negative territory (-5.0% in Q1'23) to consistent profitability, peaking at 10.6% in Q2'25 with overall growth driven by operational improvements, though it moderated to 7.6% by year-end. Net Profit Margin was volatile, starting at -6.1% in Q1'23, spiking to 28.2% in Q3'23 due to likely one-time factors, then stabilizing in positive low single digits through 2024 before climbing to 15.3% in Q4'25, underscoring a path toward sustained profitability amid fluctuating market conditions. The chart data covers quarterly profit margins for CVNA from Q1'23 to Q4'25, highlighting a general improvement in margins over time despite some quarterly volatility.