Carvana CoHAM:CV0 +3.04%73 Piotroski F-Score is 6 as of Jun. 25, 2026, which is 100% above its 10-year median of 3.00. GuruFocus rates HAM:CV0 with a GF Score™ of 73/100 and a GF Value™ of €65.90 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,286 Vehicles & Parts companies, Carvana Co ranks better than 73.56% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Carvana Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Carvana Co's Piotroski F-Score or its related term are showing as below:
HAM:CV0'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 3 Max: 8
Current: 6
During the past 12 years, the highest Piotroski F-Score of Carvana Co was 8. The lowest was 1. And the median was 3.
Carvana Co (HAM:CV0) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Carvana Co Piotroski F-Score Related Terms
Carvana Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Carvana Co's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HAM:CV0 vs PAG, ALTB, LAD: Piotroski F-Score Comparison
For the Auto & Truck Dealerships subindustry, Carvana Co's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Carvana Co Piotroski F-Score vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Carvana Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Carvana Co's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Carvana Co's current Net Income (TTM) was 1,235.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Carvana Co's return on assets of this year was 0.15044063. Carvana Co's return on assets of last year was 0.05736789.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Carvana Co's gearing of this year was 0.47282462. Carvana Co's gearing of last year was 0.72779314.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Carvana Co's current ratio of this year was 4.08688245. Carvana Co's current ratio of last year was 3.81365999.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Carvana Co's number of shares in issue this year was 740.425. Carvana Co's number of shares in issue last year was 712.935.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Carvana Co's gross margin of this year was 0.20135976. Carvana Co's gross margin of last year was 0.21647355.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Carvana Co's asset turnover of this year was 2.35701564. Carvana Co's asset turnover of last year was 2.14231923.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Carvana Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Carvana Co (HAM:CV0) has a Piotroski F-Score of 6 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Carvana Co and its competitors. This is 100% above median its historical median of 3.00. Over the past decade, Carvana Co's Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, Carvana Co ranks #340 out of 1286 companies in the Vehicles & Parts industry, placing it in the top 26.4%.
Is Carvana Co's Piotroski F-Score too high?
Carvana Co's current Piotroski F-Score of 6 is 100% above median its 10-year median of 3.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 8.00. The Vehicles & Parts industry median Piotroski F-Score is 5.00. Carvana Co's value of 6 is 20% above this industry median. Based on the distribution chart, Carvana Co ranks #340 out of 1286 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, Carvana Co has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Carvana Co's Piotroski F-Score compare to PAG and ALTB?
According to the Vehicles & Parts industry distribution chart, Carvana Co ranks #340 out of 1286 companies for Piotroski F-Score. This puts Carvana Co in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Carvana Co's value of 6 is 20% above this benchmark. Historically, Carvana Co's own Piotroski F-Score has ranged from 1.00 to 8.00 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 5.00, Carvana Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Vehicles & Parts company?
The median Piotroski F-Score among Vehicles & Parts companies is 5.00, based on 1,286 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Carvana Co's current Piotroski F-Score of 6 is 20% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Carvana Co and its competitors. For the Vehicles & Parts industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carvana Co's current Piotroski F-Score is 6, which is 100% above median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Carvana Co stock overvalued right now?
Based on GuruFocus' analysis, Carvana Co (HAM:CV0) is currently considered Modestly Undervalued. The stock's GF Value™ is €65.90, compared to a current price of €59.27 — trading 10.1% below its estimated fair value. The current Piotroski F-Score is 6, which is 100% above median its 10-year median of 3.00 and 20% above the Vehicles & Parts industry median of 5.00. Carvana Co's overall GF Score™ is 73/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Carvana Co (HAM:CV0), the current Piotroski F-Score is 6 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Carvana Co (HAM:CV0) Overvalued in 2026?
Based on GuruFocus' analysis, Carvana Co stock appears to be undervalued.
The current stock price of €59.27 is trading 10.1% below its estimated GF Value™ of €65.90.
GuruFocus considers Carvana Co to be Modestly Undervalued.
Key valuation signals for HAM:CV0:
Piotroski F-Score: 6 (100% above median its 10-year median of 3.00)
GF Value™: €65.90 vs. price of €59.27 (10.1% below fair value)
Industry Position: 20% above the Vehicles & Parts median (#340 of 1286)
No single metric tells the full story. See the HAM:CV0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues. The other sales and revenues include sales of loans originated and sold in securitization transactions or to financing partners, commissions received on VSCs and sales of GAP waiver coverage. The foundation of the business is retail vehicle unit sales. This drives the majority of the revenue and allows the company to capture additional revenue streams associated with financing, VSCs, auto insurance and GAP waiver coverage, as well as trade-in vehicles.
73GF Score
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