CarMax, Inc.

NYSE•KMX

CEO: Mr. William D. Nash CPA

Sector: Consumer Cyclical

Industry: Auto - Dealerships

Listing Date: 1997-02-04

CarMax, Inc., through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services. The CarMax Auto Finance segment provides financing alternatives for retail customers across a range of credit spectrum and arrangements with various financial institutions. The company was founded in 1993 and is based in Richmond, Virginia.

Contact Information

12800 Tuckahoe Creek Parkway, Richmond, VA, 23238, United States

804-747-0422

www.carmax.com

Market Cap

$5.54B

P/E (TTM)

23.3

15.3

Dividend Yield

52W High

$71.99

52W Low

$30.26

52W Range

21%

Rank31Top 21.6%

5.0

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Average • 5 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q4 2026 Data

Revenue

$4.52B+0.00%

4-Quarter Trend

EPS

-$0.77+0.00%

4-Quarter Trend

FCF

-$687.29M+0.00%

4-Quarter Trend

2026 Q3 Earnings Highlights

Key Highlights

Strong Operating Cash Flow Net cash provided by operations reached $2.34B for nine months 2025, a major increase from $478.1M last year due to loan sales.

Net Earnings Decline Noted Nine-month net earnings totaled $368.0M, reflecting a 10.4% decrease compared to $410.7M reported in the prior comparable period.

Total Revenue Slightly Down Total net sales and operating revenues were $19.94B for nine months 2025, showing a 2.0% contraction versus the prior year period.

CAF Income Remains Stable CAF income was $419.0M for nine months 2025, down only 0.8% compared to $422.4M, benefiting from a gain on auto loan sale.

Risk Factors

Used Unit Sales Decreased Used vehicle unit sales dropped 8.0% in the third quarter, reflecting sharply declining comparable store sales for most of the period.

Credit Quality Provision Rises Allowance for loan losses increased to 2.87% due to unfavorable performance in 2022 and 2023 originated loans.

SG&A Cost Leverage Worsens SG&A as a percentage of gross profit rose to 83.7% due to increased advertising spend supporting new brand positioning efforts.

Market Share Expected Decline Market share is expected to decrease for the full calendar year following pressured performance in the second half of the year.

Outlook

Lowering Margins for Competitiveness Company plans meaningfully lowering used vehicle margins to reduce market gap, expecting near-term earnings pressure offset by unit growth.

Aggressive SG&A Reduction Goal Targeting $150M in exit rate SG&A savings by fiscal 2027, supported by recent workforce reduction savings of $35M annualized.

CAF Penetration Expansion Target Initial goal to increase CAF penetration to 50%; each percentage point is expected to generate $10M to $12M pre-tax income.

Increased Capital Spending Planned Fiscal 2026 capital expenditures estimated at $575M, focusing on growth in offsite reconditioning and new store locations.

Peer Comparison

Revenue (TTM)

LAD

$37.73B

+2.5%

$27.49B

+1.9%

KMX

$25.88B

-8.2%

Gross Margin (Latest Quarter)

HRB

53.6%

+47.9pp

MAT

44.1%

-3.1pp

BYD

39.8%

-3.3pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
ALSN	$10.26B	19.2	29.5%	48.8%
LNW	$8.43B	25.9	49.7%	1.4%
LKQ	$7.16B	13.9	7.9%	34.6%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-17.4%

Growth Under Pressure

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

75%

Volatile Cash Flow

Deep Research

Next earnings:Jun 19, 2026

EPS:$0.94

Revenue:$7.37B

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data