CarMax

Consumer Discretionary Automotive Retail Richmond, Virginia Last filing Apr 15, 2026 · FY2026

                    Revenue
                    FY2026
                
$25.9B
                    
                    -1.8%
                    
                    Net income
                    FY2026
                
$247.3M
                    Net margin +1.0%
                    
                    P9
                    
                    -50.6%
                    
                    Total assets
                    FY2026
                
$26.4B
                    ROA +0.9%
                    
                    P11
                    
                    -3.8%
                    
                    Operating cash flow
                    FY2026
                
$1.8B
                    FCF margin +4.8%
                    
                    P18
                    
                    +185.7%

19 yrs · FY2008–FY2026 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

29 accounts · 10 years

Total assets $26.4B

Total liabilities $20.5B

Shareholders equity $5.9B

Account	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
Assets
Cash and Cash Equivalents	$862.9M -10.1%	$960.3M -23.2%	$1.3B 0.0%	$1.3B 31.5%	$951.0M 18.3%	$803.6M 4.1%	$771.9M 17.6%	$656.4M 10.2%	$595.4M 7.3%	$554.9M
Accounts Receivable	$204.5M 8.3%	$188.7M -14.7%	$221.2M	—	—	—	—	—	—	—
Inventory	$4.1B 5.1%	$3.9B 7.0%	$3.7B	—	—	—	—	—	—	—
Prepaid Expenses	$153.6M 3.6%	$148.2M -39.9%	$246.6M	—	—	—	—	—	—	—
Other Current Assets	$153.6M 3.6%	$148.2M -39.9%	$246.6M 0.0%	$246.6M 6.8%	$230.8M 8.4%	$212.9M 131.9%	$91.8M 5.6%	$86.9M 29.5%	$67.1M -28.2%	$93.5M
Total Current Assets	$5.3B 4.6%	$5.1B -2.9%	$5.2B 0.0%	$5.2B 3.7%	$5.0B -23.0%	$6.5B 59.1%	$4.1B 12.4%	$3.7B 14.0%	$3.2B 5.0%	$3.1B
Property,Plant and Equipment	$4.1B 5.9%	$3.8B 4.8%	$3.7B	—	—	—	—	—	—	—
Operating Lease Assets	$459.5M -6.9%	$493.4M -5.3%	$520.7M	—	—	—	—	—	—	—
Intangible Assets	$0 -100.0%	$160.3M -8.8%	$175.7M	—	—	—	—	—	—	—
Deferred Tax Assets	$78.5M -44.1%	$140.3M 42.1%	$98.8M 0.0%	$98.8M 22.4%	$80.7M -33.2%	$120.9M -26.4%	$164.3M 82.8%	$89.8M 46.5%	$61.3M -58.2%	$146.8M
Other Noncurrent Assets	$496.9M 6.4%	$467.0M -12.2%	$532.1M 0.0%	$532.1M -11.5%	$601.0M 22.5%	$490.7M 73.5%	$282.8M 9.3%	$258.7M 39.1%	$186.0M 17.1%	$158.8M
Total Assets	$26.4B -3.8%	$27.4B 0.8%	$27.2B 0.0%	$27.2B 3.9%	$26.2B -0.6%	$26.3B 22.3%	$21.5B 2.2%	$21.1B 12.6%	$18.7B 7.0%	$17.5B
Liabilities
Accounts Payable	$1.1B 14.3%	$977.8M 4.7%	$933.7M 0.0%	$933.7M 13.0%	$826.6M -11.9%	$937.7M 17.3%	$799.3M 8.4%	$737.1M 24.3%	$593.2M 12.0%	$529.7M
Accrued Liabilities	$475.5M -10.3%	$529.9M 1.1%	$524.0M 0.0%	$524.0M 9.4%	$479.0M -10.2%	$533.3M 28.4%	$415.5M 25.2%	$331.7M 4.3%	$318.2M 14.1%	$278.8M
Current Portion of Long Term Debt	$217.3M 1192.0%	$16.8M -94.6%	$313.3M	—	—	—	—	—	—	—
Operating Lease Liabilities	$57.3M -3.4%	$59.3M 3.8%	$57.2M	—	—	—	—	—	—	—
Other Current Liabilities	$339.0M -1.4%	$343.9M -3.1%	$354.9M	—	—	—	—	—	—	—
Total Current Liabilities	$2.4B 9.9%	$2.2B -4.9%	$2.3B 0.0%	$2.3B 19.3%	$1.9B -5.3%	$2.0B 20.5%	$1.7B 10.7%	$1.5B 17.0%	$1.3B 11.7%	$1.2B
Long Term Debt	$17.3B -4.8%	$18.1B 1.0%	$18.0B	—	—	—	—	—	—	—
Operating Lease Liabilities Noncurrent	$464.7M -3.6%	$482.0M -2.9%	$496.2M	—	—	—	—	—	—	—
Deferred Tax Liabilities	$0 -100.0%	$281.9M -14.0%	$327.9M 0.0%	$327.9M -10.6%	$366.9M 9.9%	$333.7M 53.1%	$217.9M -1.0%	$220.0M 117.3%	$101.3M 21.2%	$83.5M
Other Noncurrent Liabilities	$339.0M -1.4%	$343.9M -3.1%	$354.9M 0.0%	$354.9M 6.8%	$332.4M -6.9%	$357.1M -17.9%	$434.8M 10.4%	$393.9M 44.4%	$272.8M 12.5%	$242.6M
Total Liabilities	$20.5B -3.2%	$21.2B 0.2%	$21.1B 0.0%	$21.1B 2.7%	$20.6B -2.5%	$21.1B 22.9%	$17.2B -0.8%	$17.3B 12.7%	$15.4B 8.4%	$14.2B
Equity
Common Stock	$70.9M -7.5%	$76.7M -2.7%	$78.8M 0.0%	$78.8M -0.3%	$79.0M -1.8%	$80.5M -1.3%	$81.6M 0.1%	$81.5M -2.6%	$83.7M -6.8%	$89.9M
Additional Paid In Capital	$1.8B -4.3%	$1.9B 4.5%	$1.8B 0.0%	$1.8B 5.6%	$1.7B 2.1%	$1.7B 10.8%	$1.5B 12.2%	$1.3B 9.0%	$1.2B 0.3%	$1.2B
Retained Earnings	$4.0B -5.4%	$4.3B 3.5%	$4.1B	—	—	—	—	—	—	—
Accumulated Other Comprehensive Income	$-34.1M -1208.0%	$3.1M -94.8%	$59.3M	—	—	—	—	—	—	—
Total Stockholders Equity	$5.9B -5.7%	$6.2B 2.8%	$6.1B	—	—	—	—	—	—	—
Total Liabilitiesand Equity	$26.4B -3.8%	$27.4B 0.8%	$27.2B	—	—	—	—	—	—	—

Income Statement

Revenue, expense, and profitability

15 accounts · 10 years

Revenue $25.9B

Operating income Not reported

Net income $247.3M

Account	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
IncomeStatement
Revenues Total Revenue	$25.9B -1.8%	$26.4B -0.7%	$26.5B	—	—	—	—	—	—	—
Expenses Cost of Revenue	$23.1B -1.6%	$23.5B -1.5%	$23.8B	—	—	—	—	—	—	—
Expenses Selling,General and Administrative	$2.5B 0.7%	$2.4B 6.5%	$2.3B	—	—	—	—	—	—	—
Expenses Depreciation and Amortization	$346.0M 17.4%	$294.8M 13.2%	$260.4M	—	—	—	—	—	—	—
Expenses Share Based Compensation	$99.0M -26.5%	$134.7M 12.5%	$119.7M	—	—	—	—	—	—	—
Other Income Expense Gross Profit	$2.8B -3.2%	$2.9B 6.8%	$2.7B	—	—	—	—	—	—	—
Other Income Expense Interest Expense	$110.4M 2.3%	$107.9M -13.5%	$124.8M	—	—	—	—	—	—	—
Other Income Expense Income Before Tax	$383.4M -42.7%	$669.4M 4.3%	$641.6M	—	—	—	—	—	—	—
Income Tax Income Tax Expense	$136.1M -19.3%	$168.8M 3.9%	$162.4M	—	—	—	—	—	—	—
net Income net Income	$247.3M -50.6%	$500.6M 4.5%	$479.2M	—	—	—	—	—	—	—
net Income Comprehensive Income	$210.1M -52.7%	$444.4M 0.8%	$440.6M	—	—	—	—	—	—	—
Earnings Per Share Basic Eps	$2 -47.8%	$3 6.3%	$3 0.0%	$3 -0.7%	$3 -57.0%	$7 54.8%	$5 -15.0%	$5 11.6%	$5 32.7%	$4
Earnings Per Share Diluted Eps	$2 -47.7%	$3 6.3%	$3 0.0%	$3 -0.3%	$3 -56.5%	$7 54.2%	$5 -15.2%	$5 11.3%	$5 33.1%	$4
Earnings Per Share Weighted Average Shares Basic	$147.3M -5.2%	$155.3M -1.8%	$158.2M 0.0%	$158.2M -0.4%	$158.8M -2.2%	$162.4M -0.5%	$163.2M -1.0%	$164.8M -5.5%	$174.5M -4.5%	$182.7M
Earnings Per Share Weighted Average Shares Diluted	$147.6M -5.4%	$156.1M -1.7%	$158.7M 0.0%	$158.7M -0.7%	$159.8M -3.3%	$165.2M 0.0%	$165.1M -1.0%	$166.8M -5.2%	$175.9M -4.7%	$184.5M

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 10 years

Operating cash flow $1.8B

Investing cash flow $-540.0M

Financing cash flow $-1.3B

Account	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
CashFlow
Operating Activities net Income	$247.3M -50.6%	$500.6M 4.5%	$479.2M 0.0%	$479.2M -1.1%	$484.8M -57.9%	$1.2B 54.1%	$746.9M -15.9%	$888.4M 5.5%	$842.4M 26.8%	$664.1M
Operating Activities Depreciation and Amortization	$346.0M 17.4%	$294.8M 13.2%	$260.4M 0.0%	$260.4M -1.8%	$265.2M -2.9%	$273.2M 12.8%	$242.2M 12.2%	$215.8M 18.4%	$182.2M 1.3%	$179.9M
Operating Activities Stock Based Compensation	$99.0M -26.5%	$134.7M 12.5%	$119.7M	—	—	—	—	—	—	—
Operating Activities Deferred Income Taxes	$73.8M 411.1%	$-23.7M -394.3%	$-4.8M	—	—	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	$218.1M -2.7%	$224.1M 278.3%	$-125.7M	—	—	—	—	—	—	—
Operating Activities Other Non Cash Items	$-75.3M 29.6%	$-107.0M -24.8%	$-85.7M	—	—	—	—	—	—	—
Operating Activities net Cash From Operating Activities	$1.8B 185.7%	$624.4M 36.2%	$458.6M 0.0%	$458.6M -64.3%	$1.3B 150.3%	$-2.5B -481.8%	$667.8M 382.2%	$-236.6M -245.2%	$163.0M 302.3%	$-80.5M
Investing Activities Capital Expenditures	$541.0M 15.6%	$467.9M 0.6%	$465.3M 0.0%	$465.3M 10.1%	$422.7M 37.0%	$308.5M 87.5%	$164.5M -50.4%	$331.9M 8.9%	$304.6M 2.6%	$296.8M
Investing Activities Purchases of Investments	$10.0M -6.8%	$10.7M 73.4%	$6.2M	—	—	—	—	—	—	—
Investing Activities net Cash From Investing Activities	$-540.0M -17.1%	$-461.0M 1.3%	$-467.0M 0.0%	$-467.0M -9.7%	$-425.8M 18.7%	$-523.7M -308.6%	$-128.2M 67.1%	$-389.4M -26.2%	$-308.5M -2.2%	$-301.9M
Financing Activities Repayment of Debt	$15.0M -9.0%	$16.5M -0.8%	$16.7M 0.0%	$16.7M 36.7%	$12.2M 2.3%	$11.9M 60.6%	$7.4M 78.8%	$4.2M 364.3%	$894.0K 70.9%	$523.0K
Financing Activities Repurchase of Common Stock	$642.8M 50.0%	$428.5M 355.4%	$94.1M	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	$24.2M 14.0%	$21.3M -1.8%	$21.6M 0.0%	$21.6M 9.4%	$19.8M -1.7%	$20.1M 10.0%	$18.3M -9.0%	$20.1M 17.8%	$17.1M 4.9%	$16.3M
Financing Activities net Cash From Financing Activities	$-1.3B -195.7%	$-453.5M -247.4%	$307.8M 0.0%	$307.8M 143.3%	$-710.2M -122.9%	$3.1B 832.2%	$-424.0M -161.7%	$687.0M 269.3%	$186.0M -55.0%	$413.4M
Cash Reconciliation Effect of Exchange Rate On Cash	$862.9M -10.1%	$960.3M -23.2%	$1.3B	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	$-97.5M 66.4%	$-290.1M -196.9%	$299.4M 0.0%	$299.4M 103.1%	$147.4M 365.4%	$31.7M -72.6%	$115.6M 89.4%	$61.0M 50.7%	$40.5M 30.4%	$31.0M
Cash Reconciliation Cash At Beginning of Period	$862.9M -10.1%	$960.3M -23.2%	$1.3B	—	—	—	—	—	—	—
Cash Reconciliation Cash At End of Period	$862.9M -10.1%	$960.3M -23.2%	$1.3B	—	—	—	—	—	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
Profitability
Gross margin	+10.8%	+11.0%	+10.2%	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Net margin	+1.0%	+1.9%	+1.8%	—	—	—	—	—	—	—
FCF margin	+4.8%	+0.6%	-0.0%	—	—	—	—	—	—	—
Growth
Revenue CAGR (3y)	—	—	—	—	—	—	—	—	—	—
Returns
ROE	+4.2%	+8.0%	+7.9%	+7.9%	+8.6%	+22.0%	+17.1%	+23.6%	+25.1%	+20.0%
ROA	+0.9%	+1.8%	+1.8%	+1.8%	+1.9%	+4.4%	+3.5%	+4.2%	+4.5%	+3.8%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	2.20x	2.31x	2.26x	2.26x	2.60x	3.20x	2.42x	2.39x	2.45x	2.61x
Quick ratio	0.44x	0.52x	0.64x	—	—	—	—	—	—	—
Leverage
D/E	3.48x	3.39x	3.48x	3.48x	3.66x	4.03x	3.94x	4.59x	4.58x	4.27x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	0.98x	0.96x	0.98x	—	—	—	—	—	—	—
Cash conversion cycle	+51d	+49d	+45d	—	—	—	—	—	—	—

Valuation

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FY2026 fundamentals · no price

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CarMax

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