Income Statement CarMax, Inc.

Equities

KMX

US1431301027

Auto Vehicles, Parts & Service Retailers

Market Closed - Nyse Other stock markets 04:00:02 2026-03-06 pm EST			5-day change	1st Jan Change
42.19 ^USD	+0.33%		-2.27%	+9.19%

Feb. 27	CarMax Launches Car Shopping App in ChatGPT Store	MT
Feb. 27	CarMax, Inc. Launches First-Of-Its-Kind Car Shopping and Selling Experience in ChatGPT App Store	CI

84335b31059fed2f0baad606.F7qoNrISxWaFTE99eoeTBKXNWWqKcjzfAd5GER9vuYg.e_b8BvZ1khTXNWI8EungXdX9IyvYEQmaQLA8I1tC9d5-y9EAimCAS9QpOA

Published financial data: CARMAX, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: February	2021	2022	2023	2024	2025
Revenues	18.95B	31.9B	29.68B	26.54B	26.35B
Finance Div. Revenues	1.14B	1.3B	1.44B	1.68B	1.85B
Total Revenues	20.09B	33.2B	31.13B	28.21B	28.21B
Cost of Goods Sold, Total	16.57B	28.61B	26.88B	23.82B	23.46B
Finance Div. Operating Exp.	265M	266M	468M	470M	509M
Interest Expense - Finance Division	314M	229M	310M	639M	763M
Gross Profit	2.94B	4.09B	3.46B	3.28B	3.48B
Selling General & Admin Expenses, Total	1.9B	2.34B	2.49B	2.29B	2.44B
Depreciation & Amortization - (IS)	-	212M	228M	239M	255M
Other Operating Expenses	-74K	-	-	-	-
Other Operating Expenses, Total	1.9B	2.55B	2.72B	2.53B	2.69B
Operating Income	1.04B	1.54B	748M	756M	789M
Interest Expense, Total	-86.18M	-94.1M	-120M	-125M	-108M
Net Interest Expenses	-86.18M	-94.1M	-120M	-125M	-108M
Other Non Operating Income (Expenses)	8.28M	25.87M	9.4M	10.27M	676K
EBT, Excl. Unusual Items	965M	1.47B	637M	642M	682M
Merger & Related Restructuring Charges	-	-8M	-	-	-
Gain (Loss) On Sale Of Investments	-	8.7M	-	-	-
Asset Writedown	-	-	-	-	-12.3M
Legal Settlements	-	22.6M	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	965M	1.49B	637M	642M	669M
Income Tax Expense	218M	341M	152M	162M	169M
Earnings From Continuing Operations	747M	1.15B	485M	479M	501M
Net Income to Company	747M	1.15B	485M	479M	501M
Net Income - (IS)	747M	1.15B	485M	479M	501M
Net Income to Common Incl Extra Items	747M	1.15B	485M	479M	501M
Net Income to Common Excl. Extra Items	747M	1.15B	485M	479M	501M
Per Share Items
Net EPS - Basic	4.58	7.09	3.05	3.03	3.22
Basic EPS - Continuing Operations	4.58	7.09	3.05	3.03	3.22
Basic Weighted Average Shares Outstanding	163M	162M	159M	158M	155M
Net EPS - Diluted	4.52	6.97	3.03	3.02	3.21
Diluted EPS - Continuing Operations	4.52	6.97	3.03	3.02	3.21
Diluted Weighted Average Shares Outstanding	165M	165M	160M	159M	156M
Normalized Basic EPS	3.7	5.65	2.51	2.53	2.74
Normalized Diluted EPS	3.65	5.56	2.49	2.53	2.73
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	1.29B	1.8B	1B	996M	1.08B
EBITA	1.04B	1.54B	762M	778M	804M
EBIT	1.04B	1.54B	748M	756M	789M
EBITDAR	1.68B	2.03B	1.27B	1.27B	1.37B
Effective Tax Rate - (Ratio)	22.62	22.85	23.88	25.31	25.22
Current Domestic Taxes	254M	326M	159M	167M	193M
Total Current Taxes	254M	326M	159M	167M	193M
Deferred Domestic Taxes	-35.79M	15M	-6.55M	-4.8M	-23.72M
Total Deferred Taxes	-35.79M	15M	-6.55M	-4.8M	-23.72M
Normalized Net Income	603M	918M	398M	401M	426M
Interest Capitalized	3.3M	5.9M	5.6M	6.2M	8.2M
Interest on Long-Term Debt	14.02M	22.92M	27.57M	31.92M	34.6M
Non-Cash Pension Expense	-945K	-2.07M	-3.01M	-3.39M	-3.05M
Supplemental Operating Expense Items
Advertising Expense	219M	332M	296M	266M	262M
Selling and Marketing Expenses	218M	326M	288M	264M	262M
Research And Development Expense From Footnotes	-	5.67M	13.22M	-52.9M	-
Net Rental Expense, Total	399M	230M	267M	271M	285M
Imputed Operating Lease Interest Expense	18.08M	10.48M	13.98M	14.71M	13.61M
Imputed Operating Lease Depreciation	381M	219M	253M	257M	272M
Stock-Based Comp., COGS (Total)	6.8M	4.92M	2.27M	4.64M	5.3M
Stock-Based Comp., SG&A Exp. (Total)	112M	102M	83.61M	114M	127M
Stock-Based Comp., Other (Total)	5.66M	5.04M	2.3M	3.64M	5.02M
Total Stock-Based Compensation	124M	112M	88.17M	122M	137M

Fiscal Period: February	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	132M	103M	315M	574M	247M
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	132M	103M	315M	574M	247M
Accounts Receivable, Total	239M	561M	299M	221M	189M
Total Receivables	239M	561M	299M	221M	189M
Inventory	3.16B	5.12B	3.73B	3.68B	3.93B
Restricted Cash	496M	548M	471M	507M	559M
Other Current Assets, Total	91.83M	213M	231M	247M	148M
Total Current Assets	4.12B	6.55B	5.04B	5.23B	5.08B
Gross Property Plant And Equipment	4.9B	5.18B	5.59B	6B	6.35B
Accumulated Depreciation	-1.41B	-1.44B	-1.61B	-1.81B	-2.01B
Net Property Plant And Equipment	3.49B	3.75B	3.98B	4.19B	4.34B
Long-term Investments	153M	108M	133M	137M	131M
Goodwill	-	141M	141M	141M	141M
Finance Division Loans and Leases Long-Term	13.49B	15.29B	16.34B	17.01B	17.24B
Accounts Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	164M	121M	80.74M	98.79M	140M
Other Long-Term Assets, Total	131M	382M	468M	395M	336M
Total Assets	21.54B	26.34B	26.18B	27.2B	27.4B
Liabilities
Accounts Payable, Total	799M	938M	827M	934M	978M
Accrued Expenses, Total	289M	302M	214M	253M	324M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	399M	478M	525M	742M	487M
Current Portion of Leases	93.5M	108M	126M	133M	130M
Current Income Taxes Payable	218K	-	-	-	87.53M
Other Current Liabilities	117M	221M	247M	250M	190M
Total Current Liabilities	1.7B	2.05B	1.94B	2.31B	2.2B
Long-Term Debt	14.14B	17.7B	17.31B	17.5B	17.71B
Long-Term Leases	1.02B	1.14B	1.16B	1.16B	1.1B
Pension & Other Post Retirement Benefits	97.58M	68.73M	27.7M	13.85M	8.39M
Other Non Current Liabilities	217M	143M	140M	142M	146M
Total Liabilities	17.18B	21.1B	20.57B	21.12B	21.16B
Common Stock, Total	81.59M	80.53M	79.04M	78.81M	76.66M
Additional Paid In Capital	1.51B	1.68B	1.71B	1.81B	1.89B
Retained Earnings	2.89B	3.52B	3.72B	4.13B	4.27B
Comprehensive Income and Other	-119M	-46.42M	97.87M	59.28M	3.08M
Total Common Equity	4.36B	5.24B	5.61B	6.07B	6.24B
Total Equity	4.36B	5.24B	5.61B	6.07B	6.24B
Total Liabilities And Equity	21.54B	26.34B	26.18B	27.2B	27.4B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	163M	161M	158M	157M	153M
ECS Total Common Shares Outstanding	163M	161M	158M	158M	153M
Book Value / Share	26.75	32.51	35.51	38.54	40.72
Tangible Book Value	4.36B	5.09B	5.47B	5.93B	6.1B
Tangible Book Value Per Share	26.75	31.63	34.61	37.64	39.8
Total Debt	15.66B	19.43B	19.12B	19.53B	19.43B
Net Debt	15.52B	19.33B	18.8B	18.96B	19.18B
Debt Equivalent of Unfunded Proj. Benefit Obligation	98.22M	69.36M	28.33M	14.5M	9.04M
Debt Equivalent Oper. Leases	3.19B	1.84B	2.14B	2.17B	2.28B
Account Code - Inventory Valuation	8	8	8	8	8
Land - (BS)	947M	987M	1.01B	1.18B	1.2B
Buildings, Total	2.2B	2.29B	2.45B	2.61B	2.68B
Machinery, Total	750M	520M	560M	587M	608M
Full Time Employees	26.89K	32.65K	30.62K	29.84K	30.05K

Fiscal Period: February	2021	2022	2023	2024	2025
Net Income	747M	1.15B	485M	479M	501M
Depreciation & Amortization - CF	242M	262M	238M	218M	279M
Amortization of Goodwill and Intangible Assets - (CF)	-	5.88M	13.71M	21.55M	15.4M
Depreciation & Amortization, Total	242M	268M	252M	240M	295M
Amortization of Deferred Charges, Total - (CF)	-	5.67M	13.22M	20.78M	-
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Provision for Credit Losses	161M	142M	317M	311M	335M
Stock-Based Compensation (CF)	122M	109M	85.59M	120M	135M
Other Operating Activities, Total	35.04M	111M	96.36M	84.76M	94.76M
Change In Accounts Receivable	-43.51M	-288M	262M	77.63M	32.42M
Change In Inventories	-323M	-1.97B	1.4B	48.07M	-257M
Change In Accounts Payable	107M	175M	-198M	119M	71.71M
Change in Other Net Operating Assets	-379M	-2.26B	-1.43B	-1.04B	-583M
Cash from Operations	668M	-2.55B	1.28B	459M	624M
Capital Expenditure	-165M	-309M	-423M	-465M	-468M
Sale of Property, Plant, and Equipment	1.85M	260K	5.19M	1.35M	333K
Cash Acquisitions	-	-242M	-	-	-
Divestitures	29.91M	12.3M	-	-	-
Investment in Marketable and Equity Securities, Total	4.6M	13.79M	-8.25M	-3.04M	6.6M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-128M	-524M	-426M	-467M	-461M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	12.56B	22.01B	17.35B	12.51B	13.49B
Total Debt Issued	12.56B	22.01B	17.35B	12.51B	13.49B
Short Term Debt Repaid, Total	-40K	-	-	-	-
Long-Term Debt Repaid, Total	-12.88B	-18.39B	-17.73B	-12.14B	-13.57B
Total Debt Repaid	-12.88B	-18.39B	-17.73B	-12.14B	-13.57B
Issuance of Common Stock	143M	79.8M	17.09M	44.77M	73.74M
Repurchase of Common Stock	-230M	-576M	-334M	-94.09M	-428M
Other Financing Activities, Total	-18.3M	-20.13M	-19.78M	-21.63M	-21.25M
Cash from Financing	-424M	3.1B	-710M	308M	-454M
Net Change in Cash	116M	31.67M	147M	299M	-290M
Supplemental Items
Cash Interest Paid	86.44M	91.69M	122M	124M	105M
Cash Income Tax Paid (Refund)	248M	373M	153M	165M	69.6M
Levered Free Cash Flow	561M	-1.23B	1.87B	536M	355M
Unlevered Free Cash Flow	615M	-1.17B	1.94B	614M	422M
Change In Net Working Capital	239M	2.21B	-1.55B	-224M	34.74M
Net Debt Issued / Repaid	-319M	3.62B	-374M	379M	-77.57M

Fiscal Period: February	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.06	4.01	1.78	1.77	1.81
Return on Total Capital	3.28	4.3	1.89	1.88	1.92
Return On Equity %	18.37	23.99	8.94	8.2	8.13
Return on Common Equity	18.37	23.99	8.94	8.2	8.13
Margin Analysis
Gross Profit Margin %	14.64	12.32	11.13	11.63	12.34
SG&A Margin	9.45	7.05	7.99	8.1	8.63
EBITDA Margin %	6.4	5.44	3.21	3.53	3.84
EBITA Margin %	5.19	4.65	2.45	2.76	2.85
EBIT Margin %	5.19	4.63	2.4	2.68	2.8
Income From Continuing Operations Margin %	3.72	3.47	1.56	1.7	1.77
Net Income Margin %	3.72	3.47	1.56	1.7	1.77
Net Avail. For Common Margin %	3.72	3.47	1.56	1.7	1.77
Normalized Net Income Margin	3	2.77	1.28	1.42	1.51
Levered Free Cash Flow Margin	2.79	-3.7	6	1.9	1.26
Unlevered Free Cash Flow Margin	3.06	-3.52	6.25	2.18	1.5
Asset Turnover
Asset Turnover	0.94	1.39	1.19	1.06	1.03
Fixed Assets Turnover	5.74	9.18	8.06	6.91	6.62
Receivables Turnover (Average Receivables)	88.11	79.75	69.05	102.07	128.59
Inventory Turnover (Average Inventory)	5.52	6.91	6.08	6.43	6.16
Short Term Liquidity
Current Ratio	2.42	3.2	2.6	2.26	2.31
Quick Ratio	0.22	0.32	0.32	0.34	0.2
Operating Cash Flow to Current Liabilities	0.39	-1.25	0.66	0.2	0.28
Days Sales Outstanding (Average Receivables)	4.14	4.58	5.29	3.59	2.84
Days Outstanding Inventory (Average Inventory)	66.12	52.82	60.08	56.88	59.23
Average Days Payable Outstanding	16.61	10.37	12.63	13.55	14.71
Cash Conversion Cycle (Average Days)	53.65	47.03	52.73	46.91	47.36
Long Term Solvency
Total Debt/Equity	358.72	371.13	340.56	321.55	311.17
Total Debt / Total Capital	78.2	78.77	77.3	76.28	75.68
LT Debt/Equity	347.42	359.92	328.95	307.14	301.27
Long-Term Debt / Total Capital	75.74	76.4	74.67	72.86	73.27
Total Liabilities / Total Assets	79.74	80.12	78.56	77.67	77.22
EBIT / Interest Expense	12.1	16.34	6.21	6.06	7.31
EBITDA / Interest Expense	19.55	21.62	10.52	10.16	12.68
(EBITDA - Capex) / Interest Expense	17.64	18.34	7.01	6.43	8.35
Total Debt / EBITDA	9.29	9.55	15.09	15.41	14.19
Net Debt / EBITDA	9.22	9.5	14.84	14.96	14.01
Total Debt / (EBITDA - Capex)	10.3	11.26	22.64	24.36	21.56
Net Debt / (EBITDA - Capex)	10.21	11.2	22.27	23.64	21.28
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-6.22	65.22	-6.24	-9.36	-0.02
Gross Profit, 1 Yr. Growth %	-7.44	38.99	-15.3	-5.26	6.04
EBITDA, 1 Yr. Growth %	-11.61	44.96	-44.6	-0.41	14.16
EBITA, 1 Yr. Growth %	-15.76	53.87	-50.65	2.12	14.21
EBIT, 1 Yr. Growth %	-15.76	53.29	-51.36	1.11	14.52
Earnings From Cont. Operations, 1 Yr. Growth %	-15.93	54.14	-57.89	-1.15	4.46
Net Income, 1 Yr. Growth %	-15.93	54.14	-57.89	-1.15	4.46
Normalized Net Income, 1 Yr. Growth %	-16.86	58.82	-56.65	0.75	18.67
Diluted EPS Before Extra, 1 Yr. Growth %	-15.2	54.2	-56.53	-0.33	6.29
Accounts Receivable, 1 Yr. Growth %	25.11	134.65	-46.74	-25.98	-14.66
Inventory, 1 Yr. Growth %	10.92	62.32	-27.29	-1.29	6.98
Net Property, Plant and Equip., 1 Yr. Growth %	-0.88	7.43	6.14	5.27	3.56
Total Assets, 1 Yr. Growth %	2.18	22.27	-0.59	3.87	0.76
Tangible Book Value, 1 Yr. Growth %	15.81	16.73	7.41	8.42	2.85
Common Equity, 1 Yr. Growth %	15.81	19.95	7.21	8.21	2.79
Cash From Operations, 1 Yr. Growth %	-382.22	-481.79	-150.34	-64.26	36.16
Capital Expenditures, 1 Yr. Growth %	-50.43	87.52	37.01	10.08	0.57
Levered Free Cash Flow, 1 Yr. Growth %	31.04	-329.12	-252.13	-71.31	-28.18
Unlevered Free Cash Flow, 1 Yr. Growth %	28.1	-298.24	-266.22	-68.41	-26.17
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	2.44	24.48	24.47	-7.81	-4.8
Gross Profit, 2 Yr. CAGR %	0.39	13.42	8.5	-10.42	0.23
EBITDA, 2 Yr. CAGR %	-3.18	11.41	-11.8	-26.14	3.43
EBITA, 2 Yr. CAGR %	-6.33	11.63	-14.56	-29.21	2.66
EBIT, 2 Yr. CAGR %	-6.33	11.42	-15.33	-30.2	2.71
Earnings From Cont. Operations, 2 Yr. CAGR %	-5.84	13.84	-19.44	-35.48	1.62
Net Income, 2 Yr. CAGR %	-5.84	13.84	-19.44	-35.48	1.62
Normalized Net Income, 2 Yr. CAGR %	-6.87	12.49	-18.78	-34.43	3.46
Diluted EPS Before Extra, 2 Yr. CAGR %	-2.86	14.35	-18.12	-34.18	2.93
Accounts Receivable, 2 Yr. CAGR %	30.75	71.34	11.79	-37.21	-20.52
Inventory, 2 Yr. CAGR %	11.94	34.18	8.64	-15.28	2.76
Net Property, Plant and Equip., 2 Yr. CAGR %	11.04	3.19	6.79	5.71	4.41
Total Assets, 2 Yr. CAGR %	7.28	11.77	10.25	1.62	2.31
Tangible Book Value, 2 Yr. CAGR %	14.02	16.26	11.98	7.91	5.6
Common Equity, 2 Yr. CAGR %	14.02	17.86	13.4	7.71	5.46
Cash From Operations, 2 Yr. CAGR %	102.42	228.25	38.63	-57.59	-30.24
Capital Expenditures, 2 Yr. CAGR %	-26.51	-3.58	60.28	22.81	5.21
Levered Free Cash Flow, 2 Yr. CAGR %	-3.8	69.34	82.46	-33.68	-56.42
Unlevered Free Cash Flow, 2 Yr. CAGR %	-3.01	56.06	77.77	-27.25	-53.38
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	3.78	20.14	13.26	11.98	-5.28
Gross Profit, 3 Yr. CAGR %	2.27	11.89	2.91	3.71	-5.24
EBITDA, 3 Yr. CAGR %	-0.71	9.59	-11.74	-8.16	-15.95
EBITA, 3 Yr. CAGR %	-2.72	9.08	-14.96	-9.33	-19.67
EBIT, 3 Yr. CAGR %	-2.72	8.94	-15.47	-10.17	-20.19
Earnings From Cont. Operations, 3 Yr. CAGR %	3.99	10.97	-18.29	-13.75	-24.24
Net Income, 3 Yr. CAGR %	3.99	10.97	-18.29	-13.75	-24.24
Normalized Net Income, 3 Yr. CAGR %	-3.18	9.7	-18.14	-12.73	-22.99
Diluted EPS Before Extra, 3 Yr. CAGR %	7.88	13.32	-17.16	-12.58	-22.78
Accounts Receivable, 3 Yr. CAGR %	21.49	58.89	16.07	-2.56	-30.45
Inventory, 3 Yr. CAGR %	9.71	26.7	9.39	5.22	-8.43
Net Property, Plant and Equip., 3 Yr. CAGR %	9.35	9.83	4.17	6.28	4.99
Total Assets, 3 Yr. CAGR %	7.2	12.06	7.49	8.08	1.33
Tangible Book Value, 3 Yr. CAGR %	9.58	14.91	13.23	10.78	6.2
Common Equity, 3 Yr. CAGR %	9.58	15.97	14.2	11.64	6.04
Cash From Operations, 3 Yr. CAGR %	102.39	150.1	75.7	-11.77	-37.43
Capital Expenditures, 3 Yr. CAGR %	-17.85	0.42	8.4	41.41	14.89
Levered Free Cash Flow, 3 Yr. CAGR %	5.74	26.52	63.4	-1.51	-33.72
Unlevered Free Cash Flow, 3 Yr. CAGR %	5.84	21.39	59.37	-0.05	-28.6
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	4.88	14.82	11.6	8.06	5.66
Gross Profit, 5 Yr. CAGR %	4.06	9.89	4.72	2.37	1.83
EBITDA, 5 Yr. CAGR %	1.45	7.92	-5.3	-6.2	-5.71
EBITA, 5 Yr. CAGR %	-0.3	7.72	-7.64	-8.14	-8.27
EBIT, 5 Yr. CAGR %	-0.3	7.64	-7.97	-8.66	-8.62
Earnings From Cont. Operations, 5 Yr. CAGR %	3.68	12.92	-6.1	-10.67	-10.84
Net Income, 5 Yr. CAGR %	3.68	12.92	-6.1	-10.67	-10.84
Normalized Net Income, 5 Yr. CAGR %	-1.06	7.86	-9.75	-10.43	-10.1
Diluted EPS Before Extra, 5 Yr. CAGR %	8.33	16.41	-3.39	-8.81	-9.64
Accounts Receivable, 5 Yr. CAGR %	12.58	29.78	17.51	9.6	-0.25
Inventory, 5 Yr. CAGR %	10.32	17.78	9.28	7.86	6.69
Net Property, Plant and Equip., 5 Yr. CAGR %	10.04	8.27	8.32	8.16	4.26
Total Assets, 5 Yr. CAGR %	8.3	10.1	8.41	7.76	5.39
Tangible Book Value, 5 Yr. CAGR %	8.48	10.38	10.53	12.06	10.12
Common Equity, 5 Yr. CAGR %	8.48	10.99	11.1	12.59	10.62
Cash From Operations, 5 Yr. CAGR %	41.73	41.13	73.96	22.99	21.42
Capital Expenditures, 5 Yr. CAGR %	-12.21	-5.9	7.33	8.84	7.11
Levered Free Cash Flow, 5 Yr. CAGR %	-2.11	53.36	31.53	-2.43	-3.69
Unlevered Free Cash Flow, 5 Yr. CAGR %	-1.01	45.39	30.23	-1.24	-2.53