Carvana Co. (NYSE: CVNA) announced a 5‑for‑1 forward stock split on March 13, 2026. The split, the company’s first in its history, will be implemented after shareholder approval at the annual meeting on May 5. If approved, the record date will be May 6 and trading on a split‑adjusted basis will begin on May 7 under the existing ticker symbol.
The split is designed to keep the stock affordable for employees and retail investors. By issuing four additional shares for every share held, the per‑share price will be reduced, making it easier for team members to purchase whole shares through the Employee Stock Purchase Plan and other equity programs. Chief Financial Officer Mark Jenkins said the decision “achieves the important goal of keeping our stock accessible to all of our team members.”
Carvana’s decision follows a record‑setting 2025 year. Full‑year revenue reached $20.322 billion, up 49% from $13.5 billion in 2024, while net income climbed to $1.895 billion, a 9.3% margin. Q4 2025 revenue of $5.603 billion was 58% higher than the $3.6 billion of the same quarter in 2024, and net income of $951 million reflected a 17% margin. Total retail units sold hit 596,641, a 43% increase from 2024. The company’s shares also surged about 117% in 2025, making it the top‑performing auto‑retail stock of the year. These results were driven by strong demand for used vehicles, efficient inventory management, and scale‑related cost advantages.
Founder and CEO Ernie Garcia emphasized the company’s culture, noting that “We’re all in this together” is more than a value; it is a reality of how we work and what makes us successful in delivering amazing customer experiences and in building toward our ambitious company goals. The split signals Carvana’s transition from a high‑growth startup to a mature, employee‑focused retailer that prioritizes long‑term growth and shared ownership.
Investors have responded positively to the split announcement, viewing it as a confidence signal that management believes the company’s strong 2025 performance will continue. The split does not change Carvana’s earnings or balance sheet, but it is expected to increase liquidity and broaden ownership among employees, reinforcing the company’s long‑term growth strategy.
With the split set to take effect in early May, Carvana’s shareholders will see their holdings multiplied, while the company positions itself for continued expansion and deeper employee engagement.
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