# Carvana earned $560m in the first half and collected $345m in cash

![Carvana earned $560m in the first half and collected $345m in cash](https://aiswingx.com/static/covers/cvna-cash-vs-profit-2026q2_cover.jpg?v=1790369811)

**2026 Q2 10-Q: the profit on the books runs ahead of the money in the bank. Almost nothing non-cash sits between them, and a larger stock of cars is holding the difference**

Carvana (CVNA) reported net income of $560m for the first half of 2026. Cash from operations over the same six months was $345m — 61.6% of the profit.

- 종목: CVNA (Carvana Co.)
- 분기: 2026Q2 · 10-Q
- 작성: 2026-09-25 20:56 UTC · 업데이트: 2026-09-25 21:09 UTC
- 원문: https://aiswingx.com/p/cvna-cash-vs-profit-2026q2

## 숫자 하나
First-half net income $560m against $345m of operating cash (61.6%), with inventory up $855m over the same six months and share-based compensation of $51m, or 0.37% of revenue.

## 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. Quarterly and half-year figures cross-checked against SEC XBRL Company Facts.

## 다음 분기에 볼 것
(구독자 전용)

---

## What happened

Carvana (CVNA) buys and sells used cars online.

For the first half of 2026 the income statement and the cash flow statement describe the same six months differently.

| Line | 2026 first half |
|---|---|
| Net income | **$560m** |
| Cash from operations | **$345m** |
| **Cash / net income** | **61.6%** |

Only **61.6%** of the profit recorded on the books arrived as money.

---

(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. Is less cash than profit a bad sign?**

It is common while a business is building up what it sells. Where the gap came from is tabled in the subscriber section.

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

Inventory at the prior year end and at this quarter end is compared in the subscriber section.

**Q. Is low share-based pay a good thing?**

The comparison is in the subscriber section. It also means less is added back to bring book profit toward cash.

**Q. How fast did revenue grow?**

The growth against the prior-year quarter is set out 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 cash flow statement and balance sheet.