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Stocks · Consumer discretionary · Retail-Auto Dealers & Gasoline Stations

CARMAX INC

KMX Clue Score42
United States Fiscal year ends February CIK 0001170010
$52.61 -2.19% Close, 9 Oct 2026
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Price $52.61 −59.31% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2017Revenue15.88Net income0.63EPS, diluted3.26Fiscal year 2018Revenue17.12 +7.8%Net income0.66 +5.9%EPS, diluted3.60 +10.4%Fiscal year 2019Revenue18.17 +6.2%Net income0.84 +26.8%EPS, diluted4.79 +33.1%Fiscal year 2020Revenue20.32 +11.8%Net income0.89 +5.5%EPS, diluted5.33 +11.3%Fiscal year 2021Revenue18.95 −6.7%Net income0.75 −15.9%EPS, diluted4.52 −15.2%Fiscal year 2022Revenue31.90 +68.3%Net income1.15 +54.1%EPS, diluted6.97 +54.2%Fiscal year 2023Revenue29.68 −6.9%Net income0.48 −57.9%EPS, diluted3.03 −56.5%Fiscal year 2024Revenue26.54 −10.6%Net income0.48 −1.1%EPS, diluted3.02 −0.3%Fiscal year 2025Revenue26.35 −0.7%Net income0.50 +4.5%EPS, diluted3.21 +6.3%Fiscal year 2026Revenue25.88 −1.8%Net income0.25 −50.6%EPS, diluted1.68 −47.7%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 15.88 17.12 18.17 20.32 18.95 31.90 29.68 26.54 26.35 25.88
Growth +7.8% +6.2% +11.8% −6.7% +68.3% −6.9% −10.6% −0.7% −1.8%
Net income 0.63 0.66 0.84 0.89 0.75 1.15 0.48 0.48 0.50 0.25
Growth +5.9% +26.8% +5.5% −15.9% +54.1% −57.9% −1.1% +4.5% −50.6%
EPS, diluted 3.26 3.60 4.79 5.33 4.52 6.97 3.03 3.02 3.21 1.68
Growth +10.4% +33.1% +11.3% −15.2% +54.2% −56.5% −0.3% +6.3% −47.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginNet margin
Fiscal year 2017Gross margin13.8%Net margin3.9%Free cash flow margin−5.5%Fiscal year 2018Gross margin13.6%Net margin3.9%Free cash flow margin−2.2%Fiscal year 2019Gross margin13.6%Net margin4.6%Free cash flow margin−0.8%Fiscal year 2020Gross margin13.4%Net margin4.4%Free cash flow margin−2.8%Fiscal year 2021Gross margin12.6%Net margin3.9%Free cash flow margin2.7%Fiscal year 2022Gross margin10.3%Net margin3.6%Free cash flow margin−9.0%Fiscal year 2023Gross margin9.4%Net margin1.6%Free cash flow margin2.9%Fiscal year 2024Gross margin10.2%Net margin1.8%Free cash flow margin−0.0%Fiscal year 2025Gross margin11.0%Net margin1.9%Free cash flow margin0.6%Fiscal year 2026Gross margin10.8%Net margin1.0%Free cash flow margin4.8%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin 13.8% 13.6% 13.6% 13.4% 12.6% 10.3% 9.4% 10.2% 11.0% 10.8%
Net margin 3.9% 3.9% 4.6% 4.4% 3.9% 3.6% 1.6% 1.8% 1.9% 1.0%
Free cash flow margin −5.5% −2.2% −0.8% −2.8% 2.7% −9.0% 2.9% −0.0% 0.6% 4.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow−0.46Capital expenditure−0.42Free cash flow−0.87Buybacks−0.56Fiscal year 2018Operating cash flow−0.08Capital expenditure−0.30Free cash flow−0.38Buybacks−0.58Fiscal year 2019Operating cash flow0.16Capital expenditure−0.30Free cash flow−0.14Buybacks−0.90Fiscal year 2020Operating cash flow−0.24Capital expenditure−0.33Free cash flow−0.57Buybacks−0.57Fiscal year 2021Operating cash flow0.67Capital expenditure−0.16Free cash flow0.50Buybacks−0.23Fiscal year 2022Operating cash flow−2.55Capital expenditure−0.31Free cash flow−2.86 −667.9%Buybacks−0.58Fiscal year 2023Operating cash flow1.28Capital expenditure−0.42Free cash flow0.86Buybacks−0.33Fiscal year 2024Operating cash flow0.46Capital expenditure−0.47Free cash flow−0.01 −100.8%Buybacks−0.09Fiscal year 2025Operating cash flow0.62Capital expenditure−0.47Free cash flow0.16Buybacks−0.43Fiscal year 2026Operating cash flow1.78Capital expenditure−0.54Free cash flow1.24 +694.2%Buybacks−0.64
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow −0.46 −0.08 0.16 −0.24 0.67 −2.55 1.28 0.46 0.62 1.78
Capital expenditure −0.42 −0.30 −0.30 −0.33 −0.16 −0.31 −0.42 −0.47 −0.47 −0.54
Free cash flow −0.87 −0.38 −0.14 −0.57 0.50 −2.86 0.86 −0.01 0.16 1.24
Growth −667.9% −100.8% +694.2%
Buybacks −0.56 −0.58 −0.90 −0.57 −0.23 −0.58 −0.33 −0.09 −0.43 −0.64

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash0.04Shareholders’ equity3.11Fiscal year 2018Cash0.04Shareholders’ equity3.32Fiscal year 2019Cash0.05Total debt13.79Net cash (debt)−13.74Shareholders’ equity3.36Debt to equity4.11Fiscal year 2020Cash0.06Total debt14.95Net cash (debt)−14.90Shareholders’ equity3.77Debt to equity3.97Fiscal year 2021Cash0.13Total debt14.63Net cash (debt)−14.50Shareholders’ equity4.36Debt to equity3.35Fiscal year 2022Cash0.10Total debt18.19Net cash (debt)−18.08Shareholders’ equity5.24Debt to equity3.47Fiscal year 2023Cash0.31Total debt17.89Net cash (debt)−17.57Shareholders’ equity5.61Debt to equity3.19Fiscal year 2024Cash0.57Total debt18.27Net cash (debt)−17.70Shareholders’ equity6.07Debt to equity3.01Fiscal year 2025Cash0.25Total debt18.15Net cash (debt)−17.91Shareholders’ equity6.24Debt to equity2.91Fiscal year 2026Cash0.12Total debt17.48Net cash (debt)−17.36Shareholders’ equity5.89Debt to equity2.97
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 0.04 0.04 0.05 0.06 0.13 0.10 0.31 0.57 0.25 0.12
Total debt n/a n/a 13.79 14.95 14.63 18.19 17.89 18.27 18.15 17.48
Net cash (debt) n/a n/a −13.74 −14.90 −14.50 −18.08 −17.57 −17.70 −17.91 −17.36
Shareholders’ equity 3.11 3.32 3.36 3.77 4.36 5.24 5.61 6.07 6.24 5.89
Debt to equity n/a n/a 4.11 3.97 3.35 3.47 3.19 3.01 2.91 2.97

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending February, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 28 Feb 2017 FY2018 28 Feb 2018 FY2019 28 Feb 2019 FY2020 29 Feb 2020 FY2021 28 Feb 2021 FY2022 28 Feb 2022 FY2023 28 Feb 2023 FY2024 29 Feb 2024 FY2025 28 Feb 2025 FY2026 28 Feb 2026
Revenue and profit
15.88 17.12 18.17 20.32 18.95 31.90 29.68 26.54 26.35 25.88
Growth +7.8% +6.2% +11.8% −6.7% +68.3% −6.9% −10.6% −0.7% −1.8%
13.69 14.79 15.69 17.60 16.57 28.61 26.88 23.82 23.46 23.07
2.18 2.33 2.48 2.72 2.38 3.29 2.80 2.71 2.90 2.81
Growth +6.7% +6.5% +9.7% −12.6% +38.2% −14.8% −3.1% +6.8% −3.2%
1.49 1.62 1.73 1.75 1.70 2.33 2.49 2.29 2.44 2.45
1.01 1.06 1.11 1.16 0.97 1.49 0.64 0.64 0.67 0.38
0.38 0.40 0.27 0.27 0.22 0.34 0.15 0.16 0.17 0.14
0.63 0.66 0.84 0.89 0.75 1.15 0.48 0.48 0.50 0.25
Growth +5.9% +26.8% +5.5% −15.9% +54.1% −57.9% −1.1% +4.5% −50.6%
Per share
3.29 3.64 4.83 5.39 4.58 7.09 3.05 3.03 3.22 1.68
3.26 3.60 4.79 5.33 4.52 6.97 3.03 3.02 3.21 1.68
Growth +10.4% +33.1% +11.3% −15.2% +54.2% −56.5% −0.3% +6.3% −47.7%
190.3 182.7 174.5 164.8 163.2 162.4 158.8 158.2 155.3 147.3
192.2 184.5 175.9 166.8 165.1 165.2 159.8 158.7 156.1 147.6
Growth −4.0% −4.7% −5.2% −1.0% +0.0% −3.3% −0.7% −1.7% −5.4%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 6.4% a year over five years, and earnings per share fell 18.0% a year.
  • The diluted share count fell 10.6% in five years, so buybacks did some of the work per share.
  • Gross margin is down 1.7 points on five years ago, at 10.8%.
  • Profitable in every one of the 10 years on file.