Intrinsic value of Carvana Cl A - CVNA

Previous Close

$45.25

  Intrinsic Value

$0.92

stock screener

  Rating & Target

str. sell

-98%

Previous close

$45.25

 
Intrinsic value

$0.92

 
Up/down potential

-98%

 
Rating

str. sell

We calculate the intrinsic value of CVNA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  1,374
  2,123
  3,175
  4,607
  6,500
  8,936
  11,994
  15,749
  20,265
  25,597
  31,786
  38,861
  46,840
  55,731
  65,530
  76,227
  87,807
  100,251
  113,540
  127,652
  142,571
  158,279
  174,766
  192,023
  210,049
  228,845
  248,419
  268,785
  289,961
  311,971
Variable operating expenses, $m
  1,557
  2,406
  3,597
  5,220
  7,364
  10,124
  13,590
  17,844
  22,961
  29,001
  36,013
  44,029
  53,070
  63,143
  74,245
  86,365
  99,485
  113,585
  128,640
  144,630
  161,532
  179,330
  198,010
  217,562
  237,985
  259,281
  281,459
  304,534
  328,526
  353,463
Fixed operating expenses, $m
  43
  44
  45
  46
  47
  48
  49
  50
  51
  52
  53
  55
  56
  57
  58
  59
  61
  62
  64
  65
  66
  68
  69
  71
  72
  74
  76
  77
  79
  81
Total operating expenses, $m
  1,600
  2,450
  3,642
  5,266
  7,411
  10,172
  13,639
  17,894
  23,012
  29,053
  36,066
  44,084
  53,126
  63,200
  74,303
  86,424
  99,546
  113,647
  128,704
  144,695
  161,598
  179,398
  198,079
  217,633
  238,057
  259,355
  281,535
  304,611
  328,605
  353,544
Operating income, $m
  -226
  -326
  -467
  -659
  -911
  -1,236
  -1,644
  -2,145
  -2,746
  -3,457
  -4,281
  -5,223
  -6,286
  -7,469
  -8,774
  -10,198
  -11,739
  -13,396
  -15,164
  -17,043
  -19,028
  -21,119
  -23,313
  -25,610
  -28,009
  -30,510
  -33,115
  -35,826
  -38,644
  -41,573
EBITDA, $m
  -207
  -297
  -424
  -596
  -823
  -1,115
  -1,482
  -1,931
  -2,472
  -3,110
  -3,850
  -4,696
  -5,651
  -6,714
  -7,885
  -9,164
  -10,549
  -12,037
  -13,625
  -15,312
  -17,096
  -18,973
  -20,944
  -23,007
  -25,162
  -27,408
  -29,748
  -32,182
  -34,713
  -37,344
Interest expense (income), $m
  3
  16
  27
  43
  65
  95
  135
  186
  251
  330
  425
  537
  667
  816
  984
  1,171
  1,378
  1,603
  1,847
  2,109
  2,388
  2,685
  2,999
  3,330
  3,677
  4,040
  4,420
  4,815
  5,227
  5,656
  6,102
Earnings before tax, $m
  -242
  -353
  -510
  -724
  -1,007
  -1,371
  -1,830
  -2,395
  -3,076
  -3,881
  -4,818
  -5,890
  -7,102
  -8,453
  -9,945
  -11,575
  -13,342
  -15,242
  -17,273
  -19,431
  -21,714
  -24,118
  -26,643
  -29,287
  -32,049
  -34,930
  -37,931
  -41,053
  -44,300
  -47,675
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -242
  -353
  -510
  -724
  -1,007
  -1,371
  -1,830
  -2,395
  -3,076
  -3,881
  -4,818
  -5,890
  -7,102
  -8,453
  -9,945
  -11,575
  -13,342
  -15,242
  -17,273
  -19,431
  -21,714
  -24,118
  -26,643
  -29,287
  -32,049
  -34,930
  -37,931
  -41,053
  -44,300
  -47,675

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  737
  1,138
  1,702
  2,470
  3,485
  4,791
  6,431
  8,445
  10,866
  13,725
  17,043
  20,837
  25,116
  29,883
  35,137
  40,872
  47,081
  53,754
  60,879
  68,446
  76,445
  84,868
  93,708
  102,962
  112,627
  122,705
  133,201
  144,121
  155,475
  167,277
Adjusted assets (=assets-cash), $m
  737
  1,138
  1,702
  2,470
  3,485
  4,791
  6,431
  8,445
  10,866
  13,725
  17,043
  20,837
  25,116
  29,883
  35,137
  40,872
  47,081
  53,754
  60,879
  68,446
  76,445
  84,868
  93,708
  102,962
  112,627
  122,705
  133,201
  144,121
  155,475
  167,277
Revenue / Adjusted assets
  1.864
  1.866
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
  1.865
Average production assets, $m
  168
  259
  387
  562
  793
  1,090
  1,463
  1,921
  2,472
  3,123
  3,878
  4,741
  5,715
  6,799
  7,995
  9,300
  10,712
  12,231
  13,852
  15,574
  17,394
  19,310
  21,321
  23,427
  25,626
  27,919
  30,307
  32,792
  35,375
  38,060
Working capital, $m
  328
  507
  759
  1,101
  1,553
  2,136
  2,867
  3,764
  4,843
  6,118
  7,597
  9,288
  11,195
  13,320
  15,662
  18,218
  20,986
  23,960
  27,136
  30,509
  34,074
  37,829
  41,769
  45,894
  50,202
  54,694
  59,372
  64,240
  69,301
  74,561
Total debt, $m
  503
  795
  1,205
  1,763
  2,501
  3,451
  4,643
  6,107
  7,867
  9,946
  12,358
  15,116
  18,227
  21,692
  25,512
  29,682
  34,196
  39,047
  44,227
  49,728
  55,543
  61,667
  68,093
  74,821
  81,847
  89,174
  96,804
  104,743
  112,998
  121,578
Total liabilities, $m
  536
  828
  1,238
  1,796
  2,534
  3,483
  4,676
  6,139
  7,900
  9,978
  12,390
  15,148
  18,259
  21,725
  25,544
  29,714
  34,228
  39,079
  44,259
  49,760
  55,576
  61,699
  68,126
  74,853
  81,880
  89,207
  96,837
  104,776
  113,031
  121,610
Total equity, $m
  201
  311
  465
  674
  951
  1,308
  1,756
  2,305
  2,966
  3,747
  4,653
  5,688
  6,857
  8,158
  9,592
  11,158
  12,853
  14,675
  16,620
  18,686
  20,870
  23,169
  25,582
  28,108
  30,747
  33,498
  36,364
  39,345
  42,445
  45,667
Total liabilities and equity, $m
  737
  1,139
  1,703
  2,470
  3,485
  4,791
  6,432
  8,444
  10,866
  13,725
  17,043
  20,836
  25,116
  29,883
  35,136
  40,872
  47,081
  53,754
  60,879
  68,446
  76,446
  84,868
  93,708
  102,961
  112,627
  122,705
  133,201
  144,121
  155,476
  167,277
Debt-to-equity ratio
  2.500
  2.560
  2.590
  2.610
  2.630
  2.640
  2.640
  2.650
  2.650
  2.650
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
Adjusted equity ratio
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -242
  -353
  -510
  -724
  -1,007
  -1,371
  -1,830
  -2,395
  -3,076
  -3,881
  -4,818
  -5,890
  -7,102
  -8,453
  -9,945
  -11,575
  -13,342
  -15,242
  -17,273
  -19,431
  -21,714
  -24,118
  -26,643
  -29,287
  -32,049
  -34,930
  -37,931
  -41,053
  -44,300
  -47,675
Depreciation, amort., depletion, $m
  19
  29
  43
  62
  88
  121
  163
  213
  275
  347
  431
  527
  635
  755
  888
  1,033
  1,190
  1,359
  1,539
  1,730
  1,933
  2,146
  2,369
  2,603
  2,847
  3,102
  3,367
  3,644
  3,931
  4,229
Funds from operations, $m
  -223
  -325
  -467
  -661
  -918
  -1,250
  -1,668
  -2,182
  -2,801
  -3,534
  -4,387
  -5,364
  -6,467
  -7,698
  -9,057
  -10,542
  -12,152
  -13,883
  -15,734
  -17,700
  -19,781
  -21,973
  -24,274
  -26,684
  -29,202
  -31,828
  -34,563
  -37,410
  -40,369
  -43,446
Change in working capital, $m
  123
  179
  251
  342
  452
  582
  731
  897
  1,079
  1,274
  1,479
  1,691
  1,907
  2,125
  2,342
  2,557
  2,768
  2,974
  3,176
  3,373
  3,565
  3,754
  3,940
  4,125
  4,308
  4,492
  4,678
  4,867
  5,061
  5,260
Cash from operations, $m
  -347
  -504
  -718
  -1,003
  -1,371
  -1,832
  -2,399
  -3,079
  -3,881
  -4,809
  -5,866
  -7,055
  -8,374
  -9,823
  -11,399
  -13,099
  -14,919
  -16,857
  -18,910
  -21,073
  -23,346
  -25,727
  -28,214
  -30,808
  -33,510
  -36,320
  -39,242
  -42,277
  -45,430
  -48,706
Maintenance CAPEX, $m
  -12
  -19
  -29
  -43
  -62
  -88
  -121
  -163
  -213
  -275
  -347
  -431
  -527
  -635
  -755
  -888
  -1,033
  -1,190
  -1,359
  -1,539
  -1,730
  -1,933
  -2,146
  -2,369
  -2,603
  -2,847
  -3,102
  -3,367
  -3,644
  -3,931
New CAPEX, $m
  -63
  -91
  -128
  -175
  -231
  -297
  -373
  -458
  -551
  -650
  -755
  -863
  -974
  -1,085
  -1,195
  -1,305
  -1,413
  -1,518
  -1,621
  -1,722
  -1,820
  -1,916
  -2,011
  -2,105
  -2,199
  -2,293
  -2,388
  -2,485
  -2,583
  -2,685
Cash from investing activities, $m
  -75
  -110
  -157
  -218
  -293
  -385
  -494
  -621
  -764
  -925
  -1,102
  -1,294
  -1,501
  -1,720
  -1,950
  -2,193
  -2,446
  -2,708
  -2,980
  -3,261
  -3,550
  -3,849
  -4,157
  -4,474
  -4,802
  -5,140
  -5,490
  -5,852
  -6,227
  -6,616
Free cash flow, $m
  -421
  -614
  -876
  -1,221
  -1,664
  -2,218
  -2,893
  -3,700
  -4,645
  -5,734
  -6,968
  -8,349
  -9,874
  -11,542
  -13,350
  -15,292
  -17,365
  -19,566
  -21,890
  -24,334
  -26,897
  -29,576
  -32,371
  -35,283
  -38,312
  -41,461
  -44,732
  -48,129
  -51,657
  -55,322
Issuance/(repayment) of debt, $m
  201
  292
  410
  558
  738
  950
  1,192
  1,464
  1,760
  2,078
  2,412
  2,758
  3,111
  3,466
  3,820
  4,170
  4,514
  4,851
  5,180
  5,501
  5,815
  6,123
  6,427
  6,727
  7,027
  7,327
  7,630
  7,939
  8,255
  8,580
Issuance/(repurchase) of shares, $m
  317
  463
  664
  933
  1,284
  1,728
  2,278
  2,945
  3,737
  4,662
  5,724
  6,926
  8,270
  9,755
  11,379
  13,141
  15,037
  17,064
  19,218
  21,497
  23,897
  26,418
  29,056
  31,813
  34,688
  37,681
  40,796
  44,034
  47,400
  50,897
Cash from financing (excl. dividends), $m  
  518
  755
  1,074
  1,491
  2,022
  2,678
  3,470
  4,409
  5,497
  6,740
  8,136
  9,684
  11,381
  13,221
  15,199
  17,311
  19,551
  21,915
  24,398
  26,998
  29,712
  32,541
  35,483
  38,540
  41,715
  45,008
  48,426
  51,973
  55,655
  59,477
Total cash flow (excl. dividends), $m
  97
  141
  199
  270
  357
  460
  577
  709
  852
  1,006
  1,168
  1,335
  1,506
  1,678
  1,849
  2,019
  2,186
  2,349
  2,508
  2,664
  2,816
  2,965
  3,112
  3,257
  3,402
  3,548
  3,695
  3,844
  3,997
  4,154
Retained Cash Flow (-), $m
  -317
  -463
  -664
  -933
  -1,284
  -1,728
  -2,278
  -2,945
  -3,737
  -4,662
  -5,724
  -6,926
  -8,270
  -9,755
  -11,379
  -13,141
  -15,037
  -17,064
  -19,218
  -21,497
  -23,897
  -26,418
  -29,056
  -31,813
  -34,688
  -37,681
  -40,796
  -44,034
  -47,400
  -50,897
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -220
  -322
  -465
  -663
  -926
  -1,268
  -1,701
  -2,236
  -2,885
  -3,656
  -4,556
  -5,591
  -6,764
  -8,077
  -9,530
  -11,122
  -12,851
  -14,715
  -16,710
  -18,833
  -21,081
  -23,453
  -25,945
  -28,556
  -31,285
  -34,134
  -37,101
  -40,190
  -43,403
  -46,742
Discount rate, %
  6.60
  6.93
  7.28
  7.64
  8.02
  8.42
  8.84
  9.29
  9.75
  10.24
  10.75
  11.29
  11.85
  12.45
  13.07
  13.72
  14.41
  15.13
  15.88
  16.68
  17.51
  18.39
  19.31
  20.27
  21.29
  22.35
  23.47
  24.64
  25.87
  27.17
PV of cash for distribution, $m
  -207
  -281
  -377
  -494
  -630
  -781
  -940
  -1,099
  -1,249
  -1,379
  -1,482
  -1,549
  -1,577
  -1,563
  -1,510
  -1,421
  -1,304
  -1,166
  -1,015
  -861
  -712
  -572
  -447
  -340
  -251
  -180
  -125
  -84
  -55
  -35
Current shareholders' claim on cash, %
  79.8
  64.9
  53.5
  44.5
  37.4
  31.7
  27.0
  23.1
  19.9
  17.2
  14.9
  13.0
  11.3
  9.9
  8.7
  7.6
  6.7
  6.0
  5.3
  4.7
  4.1
  3.7
  3.3
  2.9
  2.6
  2.3
  2.0
  1.8
  1.6
  1.5

Carvana Co. is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices. The Company’s transaction technologies and online platform transform a traditionally time consuming process by allowing customers to secure financing, complete a purchase and schedule delivery online.

FINANCIAL RATIOS  of  Carvana Cl A (CVNA)

Valuation Ratios
P/E Ratio -64.3
Price to Sales 16.4
Price to Book 44.3
Price to Tangible Book
Price to Cash Flow -24.9
Price to Free Cash Flow -21.4
Growth Rates
Sales Growth Rate 180.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 185.7%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 3.7%
Total Debt to Equity 126.7%
Interest Coverage -30
Management Effectiveness
Return On Assets -38.1%
Ret/ On Assets - 3 Yr. Avg. -30.4%
Return On Total Capital -45%
Ret/ On T. Cap. - 3 Yr. Avg. -38.1%
Return On Equity -93%
Return On Equity - 3 Yr. Avg. -68.9%
Asset Turnover 1.5
Profitability Ratios
Gross Margin 5.2%
Gross Margin - 3 Yr. Avg. 1.2%
EBITDA Margin -23.3%
EBITDA Margin - 3 Yr. Avg. -26.5%
Operating Margin -25.5%
Oper. Margin - 3 Yr. Avg. -29.9%
Pre-Tax Margin -25.5%
Pre-Tax Margin - 3 Yr. Avg. -29.9%
Net Profit Margin -25.5%
Net Profit Margin - 3 Yr. Avg. -29.9%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

CVNA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CVNA stock intrinsic value calculation we used $858.87 million for the last fiscal year's total revenue generated by Carvana Cl A. The default revenue input number comes from 0001 income statement of Carvana Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CVNA stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.6%, whose default value for CVNA is calculated based on our internal credit rating of Carvana Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Carvana Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CVNA stock the variable cost ratio is equal to 113.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $42 million in the base year in the intrinsic value calculation for CVNA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Carvana Cl A.

Corporate tax rate of 27% is the nominal tax rate for Carvana Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CVNA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CVNA are equal to 12.2%.

Life of production assets of 9 years is the average useful life of capital assets used in Carvana Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CVNA is equal to 23.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $125.736 million for Carvana Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 34.257 million for Carvana Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Carvana Cl A at the current share price and the inputted number of shares is $1.6 billion.

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COMPANY NEWS

▶ Etsy and Wayfair could compete with Amazon sales this holiday season   [Nov-12-18 12:28PM  Yahoo Finance Video]
▶ Why Carvana Co. Stock Fell 34.4% in October   [Nov-11-18 07:38PM  Motley Fool]
▶ Carvana posts loss despite strong revenue in Q3   [09:02AM  American City Business Journals]
▶ New glass tower is coming to prime Triad spot along Interstate 40   [07:15AM  American City Business Journals]
▶ Carvana to Host Analyst Day on Nov. 29   [06:00AM  Business Wire]
▶ 12 Vulnerable Stocks to Watch on Market-Wide Weakness   [Oct-11-18 04:02PM  Kiplinger]
▶ Carvana launches next-day delivery in sixth Texas market   [Oct-09-18 03:29PM  American City Business Journals]
▶ Forbes' richest Arizonans ranking has a new name at the top   [Oct-05-18 12:00PM  American City Business Journals]
▶ 10 Best High-Growth Stocks for Young Investors   [Sep-25-18 10:00AM  InvestorPlace]
▶ Risk-Reward With AutoNation   [Sep-21-18 04:04PM  GuruFocus.com]
▶ Carvana launches next-day delivery in NYC   [Sep-20-18 01:06PM  American City Business Journals]
▶ Does Carvana Cos (NYSE:CVNA) Debt Level Pose A Problem?   [Sep-13-18 02:55PM  Simply Wall St.]
▶ Carvana CEO to give $35M worth of stock to employees   [Sep-11-18 05:20PM  American City Business Journals]
▶ Why Tesla, Carvana, and Tilray Jumped Today   [Sep-10-18 04:41PM  Motley Fool]
▶ Permit pulled for Memphis' first car vending machine   [12:26PM  American City Business Journals]
▶ Carvana Co. Announces Senior Notes Offering   [09:18AM  Business Wire]
▶ 3 Stocks That Have More Than Doubled in 2018   [Sep-01-18 10:00AM  Motley Fool]
▶ Carvana announces expansion in Indiana, Michigan   [Aug-29-18 05:20PM  American City Business Journals]
▶ This Raleigh CEOs ambitious plan to take on Carvana   [Aug-20-18 07:41AM  American City Business Journals]
▶ Investors Who Love Growth Should Love Carvana Co.   [Aug-17-18 07:36AM  Motley Fool]
▶ Carvana revenue shifts higher in Q2, company boosts year-end outlook   [05:38PM  American City Business Journals]
▶ Carvana's Q2 Earnings Preview   [09:50AM  Benzinga]
▶ Seattle on-demand car repair service expands in Phoenix, partners with Carvana   [Jul-20-18 05:57PM  American City Business Journals]
▶ Carvana unveils the "New Way to Buy a Car" smell. Literally.   [Jul-13-18 03:26PM  American City Business Journals]
▶ How Carvana Co. Can Win for Investors Long Term   [Jul-09-18 11:32AM  Motley Fool]
▶ 3 Stocks That Have More Than Doubled in 2018   [Jul-05-18 10:00AM  Motley Fool]
▶ EXCLUSIVE: First look into Carvana's biggest car-vending machine (Video)   [Jun-20-18 09:00AM  American City Business Journals]
▶ 3 High-Growth Stocks That Are Just Getting Started   [Jun-15-18 08:17AM  Motley Fool]
▶ Why Twitter, Dropbox, and Carvana Jumped Today   [Jun-14-18 04:31PM  Motley Fool]
▶ Carvana Opens Newest Car Vending Machine in Orlando   [Jun-07-18 06:00AM  Business Wire]
▶ A car vending machine rises in Gaithersburg   [Jun-05-18 01:58PM  American City Business Journals]
▶ 3 Up-and-Coming Stocks That Could Be Huge!   [May-21-18 10:10AM  InvestorPlace]
▶ Carvana shares rally on Q1 sales beat   [May-09-18 04:39PM  MarketWatch]
▶ Carvana to Present at Upcoming Investor Conferences   [May-03-18 08:15AM  Business Wire]
▶ Carvana plans to sell another 6 million stock shares   [Apr-23-18 07:01PM  American City Business Journals]

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