• Carvana average debt/equity ratio for 2015-12-31 was 0, a 0% decline from 2016-03-31.
• Carvana average debt/equity ratio for 2016-03-31 was 0, a 0% decline from 2016-06-30.
• Carvana average debt/equity ratio for 2016-06-30 was 0, a 0% decline from 2016-09-30.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.