CarMax (KMX) | Financial Analysis & Statements

CarMax Inc. | Large-cap | Consumer Cyclical

$70.61

-1.34%

CarMax vs Carvana CarMax vs Penske Automotive CarMax vs Lithia Motors CarMax vs AutoNation CarMax vs Group 1 Automotive CarMax vs S&P 500 | Market

Overview Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

Financial Overview

Latest Annual: 2025

Income Metrics

Revenue 26.4B

Gross Profit 2.9B 11.00%

Operating Income -220.5M -0.84%

Net Income 500.6M 1.90%

EPS (Diluted) $3.21

Balance Sheet Metrics

Total Assets 27.4B

Total Liabilities 21.2B

Shareholders Equity 6.2B

Debt to Equity 3.39

Cash Flow Metrics

Operating Cash Flow 192.1M

Free Cash Flow 156.5M

Revenue & Profitability Trend

CarMax Income Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Revenue	26.4B	26.5B	29.7B	31.9B	19.0B
Cost of Goods Sold	23.5B	23.8B	26.9B	28.6B	16.6B
Gross Profit	2.9B	2.7B	2.8B	3.3B	2.4B
Operating Expenses	2.8B	2.7B	2.9B	2.5B	1.9B
Operating Income	-220.5M	-205.7M	-310.9M	551.6M	272.9M
Pre-tax Income	669.4M	641.6M	636.8M	1.5B	965.3M
Income Tax	168.8M	162.4M	152.0M	341.0M	218.3M
Net Income	500.6M	479.2M	484.8M	1.2B	746.9M
EPS (Diluted)	$3.21	$3.02	$3.03	$6.97	$4.52

Income Statement Trend

CarMax Balance Sheet From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Assets
Current Assets	5.1B	5.2B	5.0B	6.5B	4.1B
Non-Current Assets	22.3B	22.0B	21.1B	19.8B	17.4B
Total Assets	27.4B	27.2B	26.2B	26.3B	21.5B
Liabilities
Current Liabilities	2.2B	2.3B	1.9B	2.0B	1.7B
Non-Current Liabilities	19.0B	18.8B	18.6B	19.1B	15.5B
Total Liabilities	21.2B	21.1B	20.6B	21.1B	17.2B
Equity
Total Shareholders Equity	6.2B	6.1B	5.6B	5.2B	4.4B

Balance Sheet Composition

CarMax Cash Flow Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Operating Activities
Net Income	500.6M	479.2M	484.8M	1.2B	746.9M
Operating Cash Flow	192.1M	67.8M	868.2M	-2.8B	434.8M
Investing Activities
Capital Expenditures	333.0K	1.4M	5.2M	260.0K	1.8M
Investing Cash Flow	6.9M	-1.7M	-3.1M	-215.2M	36.4M
Financing Activities
Dividends Paid	-	-	-	-	-
Financing Cash Flow	-453.5M	307.8M	-710.2M	3.1B	-424.1M
Free Cash Flow	156.5M	-6.7M	860.6M	-2.9B	503.2M

Cash Flow Trend

CarMax Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 18.56

Forward P/E 17.82

Price to Book 1.61

Price to Sales 0.35

PEG Ratio 17.82

Profitability Ratios

Profit Margin 1.95%

Operating Margin 3.86%

Return on Equity 8.97%

Return on Assets 1.97%

Financial Health

Current Ratio 2.39

Debt to Equity 306.75

Beta 1.38

Per Share Data

EPS (TTM) $3.62

Book Value per Share $41.75

Revenue per Share $186.10

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
kmx	10.1B	18.56	1.61	8.97%	1.95%	306.75
Carvana	37.4B	111.14	28.60	99.59%	2.68%	344.78
Penske Automotive	11.6B	12.35	2.17	18.56%	3.10%	151.44
Lithia Motors	8.6B	10.48	1.28	13.15%	2.31%	204.97
AutoNation	7.4B	11.64	3.10	28.45%	2.51%	375.84
Group 1 Automotive	5.8B	12.59	1.91	16.56%	2.28%	176.05

Financial data is updated regularly. All figures are in the company's reporting currency.