# Carvana: $2.97bn of its $4.03bn equity is a deferred tax asset, or 73.7%

![Carvana: $2.97bn of its $4.03bn equity is a deferred tax asset, or 73.7%](https://aiswingx.com/static/covers/cvna-2026q2_cover.jpg?v=1790191884)

**2026 Q2 10-Q: revenue rose 15% to $7.38bn and operating income was $680m. Take the deferred tax asset out of equity and $1.06bn remains. That asset arrived two quarters ago alongside a $2.78bn tax benefit**

Carvana (CVNA) reported revenue of $7.38bn for the second quarter of 2026, up 15% on the prior quarter, with operating income of $680m. On the balance sheet of the same date, $2.97bn of the $4.03bn of total equity is a deferred tax asset — 73.7% of it.

- 종목: CVNA (Carvana Co.)
- 분기: 2026Q2 · 10-Q
- 작성: 2026-09-23 19:31 UTC
- 원문: https://aiswingx.com/p/cvna-2026q2

## 숫자 하나
2026 Q2 revenue $7.38bn (+15%), operating income $680m, net income $310m, and a deferred tax asset of $2.97bn equal to 73.7% of total equity.

## 비유 하나
(구독자 전용)

## 출처 하나
Carvana Co. Form 10-Q (2026 second quarter, accession 0001690820-26-000055): consolidated statement of operations, balance sheet and cash flows; income tax note. Quarterly figures cross-checked against SEC XBRL Company Facts.

## 다음 분기에 볼 것
(구독자 전용)

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## What happened

Carvana (CVNA) buys and sells used cars online.

Every line of the second-quarter 2026 statement of operations grew.

| Line | 2026 Q1 | 2026 Q2 |
|---|---|---|
| Revenue | $6.43bn | **$7.38bn** (+14.8%) |
| Gross profit | $1.27bn | $1.38bn |
| Operating income | $581m | **$680m** (+17.0%) |
| Net income | $250m | **$310m** (+24.0%) |

Gross margin fell from 19.8% to **18.7%**: revenue grew 14.8% while gross profit grew 8.7%.

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(End of free preview. What the numbers mean, why it matters, company context, the next-quarter checklist and the arithmetic are available to subscribers — https://aiswingx.com/pricing)

## FAQ

**Q. What is a deferred tax asset?**

A recorded right to pay less tax in future. It is defined in the glossary.

**Q. Isn't a large equity figure a sign of safety?**

It depends on what the equity is made of. This quarter's composition is tabled in the subscriber section.

**Q. Why do operating income and net income differ?**

What is deducted between the two is set out in the subscriber section.

**Q. How much did inventory grow?**

Its growth rate against revenue growth is in the subscriber section.

**Q. Where can I check this myself?**

On SEC EDGAR, open Carvana Co.'s 2026 second-quarter 10-Q (accession 0001690820-26-000055) and read the balance sheet and income tax note.