CarMax Inc
42.46-1.99 (-4.48%)
Oct 29, 4:00:02 PM EDT · NYSE · KMX · USD
Key Stats
Market Cap
6.24BP/E (TTM)
12.45Basic EPS (TTM)
3.41Dividend Yield
0%Recent Filings
8-K
CarMax annual meeting outcomes
CarMax shareholders at the June 24, 2025 annual meeting elected all nine board nominees, including Peter J. Bensen and Sona Chawla, each with over 110 million votes for amid 11.6 million broker non-votes. They ratified KPMG LLP as auditors for fiscal 2026 with 131.6 million in favor, approved executive compensation advisory vote by 110.9 million, yet rejected a special meeting right proposal 80.8 million against. Board continuity holds firm. No major disruptions noted.
10-Q
Q1 FY2026 results
CarMax posted solid Q1 FY2026 results, with net sales and operating revenues climbing 6.1% year-over-year to $7,546.5 million, fueled by a 9.0% surge in used vehicle units to 230,210 despite a 1.5% dip in average selling prices; gross profit jumped 12.8% to $893.6 million, lifting margins to 11.8% from 11.1%, while operating income rose 37.1% (derived) to $283.1 million on tighter SG&A leverage. Diluted EPS hit $1.38, up 42.3% and aligning with 152,607 weighted shares. Operating cash flow flipped positive at $299.5 million, yielding free cash flow of $162.8 million after $136.7 million in capex, with cash at $262.8 million and $2.0 billion revolver fully available amid $18.8 billion total debt. No material M&A noted. Yet competition in the used car market remains fierce.
8-K
CarMax Q1 earnings up 42.3%
CarMax reported first-quarter fiscal 2026 results on June 20, 2025, with net earnings per diluted share surging 42.3% to $1.38, fueled by 9.0% retail used unit sales growth and record $2,407 gross profit per retail unit. Total gross profit climbed 12.8% to $893.6 million, while SG&A leverage improved sharply; yet CarMax Auto Finance income dipped 3.6% to $141.7 million amid higher loan loss provisions. The company repurchased $199.8 million in shares and expanded its non-prime funding program for risk mitigation. Strong execution drives earnings growth.
8-K
CarMax executive departure announced
CarMax announced on May 9, 2025, that Executive Vice President and Chief Growth and Strategy Officer James Lyski will depart effective June 8, 2025. Lyski qualifies for severance benefits under his amended agreement from December 1, 2023. The exit leaves a gap in growth strategy leadership. No successor named yet.
10-K
FY2025 results
CarMax's fiscal 2025 results showed resilient used vehicle sales with 789,050 units sold, up 3.1% year-over-year, driven by accelerating comparable store growth that turned positive in Q2 and reached high single-digits by Q4, contributing to a 0.8% revenue increase to $21.1 billion amid a 2.8% drop in average selling prices to $26,273. Gross profit rose 6.8% to $2.9 billion, with used vehicle margins steady at $2,311 per unit, while other gross profit surged 27.9% from service efficiencies yielding $125 per unit savings, passed to customers for affordability. Q4 momentum shone through 15.3% higher vehicle purchases, including 114.2% growth in dealer-sourced units via MaxOffer, bolstering inventory for tax season. Liquidity remained strong with $247 million in cash and $2 billion revolver availability, supporting $429 million in buybacks; yet, economic pressures like high interest rates could dampen quarterly demand.
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