K

CARMAX, INC.

KMX · CIK 0001170010

18 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$25.88B1.8%
FY2026
Net income (FY)
$247.3M50.6%
FY2026
Free cash flow (FY)
$1.24B694.2%
FY2026
Diluted EPS (FY)
$1.6847.7%
FY2026
The story, charted

The shape of the business

FY2009–FY2026 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$10B$20B$30BFY2009 · Revenue $6.97B · Net income $59.2M · 0001170010-11-000026 · filed 2011-04-28FY09Revenue $6.97BNet income $59.2M0001170010-11-000026 · filed 2011-04-28FY2010 · Revenue $7.47B · Net income $277.8M · 0001193125-12-182512 · filed 2012-04-25FY10Revenue $7.47BNet income $277.8M0001193125-12-182512 · filed 2012-04-25FY2011 · Revenue $8.98B · Net income $377.5M · 0001170010-13-000010 · filed 2013-04-26FY11Revenue $8.98BNet income $377.5M0001170010-13-000010 · filed 2013-04-26FY2012 · Revenue $10.00B · Net income $413.8M · 0001170010-14-000017 · filed 2014-04-25FY12Revenue $10.00BNet income $413.8M0001170010-14-000017 · filed 2014-04-25FY2013 · Revenue $10.96B · Net income $434.3M · 0001170010-15-000008 · filed 2015-04-24FY13Revenue $10.96BNet income $434.3M0001170010-15-000008 · filed 2015-04-24FY2014 · Revenue $12.57B · Net income $492.6M · 0001170010-16-000117 · filed 2016-04-22FY14Revenue $12.57BNet income $492.6M0001170010-16-000117 · filed 2016-04-22FY2015 · Revenue $14.27B · Net income $597.4M · 0001170010-17-000053 · filed 2017-04-21FY15Revenue $14.27BNet income $597.4M0001170010-17-000053 · filed 2017-04-21FY2016 · Revenue $15.15B · Net income $623.4M · 0001170010-18-000054 · filed 2018-04-24FY16Revenue $15.15BNet income $623.4M0001170010-18-000054 · filed 2018-04-24FY2017 · Revenue $15.88B · Net income $627.0M · 0001170010-19-000040 · filed 2019-04-19FY17Revenue $15.88BNet income $627.0M0001170010-19-000040 · filed 2019-04-19FY2018 · Revenue $17.12B · Net income $664.1M · 0001170010-20-000033 · filed 2020-04-21FY18Revenue $17.12BNet income $664.1M0001170010-20-000033 · filed 2020-04-21FY2019 · Revenue $18.17B · Net income $842.4M · 0001170010-21-000053 · filed 2021-04-20FY19Revenue $18.17BNet income $842.4M0001170010-21-000053 · filed 2021-04-20FY2020 · Revenue $20.32B · Net income $888.4M · 0001170010-22-000017 · filed 2022-04-14FY20Revenue $20.32BNet income $888.4M0001170010-22-000017 · filed 2022-04-14FY2021 · Revenue $18.95B · Net income $746.9M · 0001170010-23-000010 · filed 2023-04-13FY21Revenue $18.95BNet income $746.9M0001170010-23-000010 · filed 2023-04-13FY2022 · Revenue $31.90B · Net income $1.15B · 0001170010-24-000034 · filed 2024-04-15FY22Revenue $31.90BNet income $1.15B0001170010-24-000034 · filed 2024-04-15FY2023 · Revenue $29.68B · Net income $484.8M · 0001170010-25-000024 · filed 2025-04-11FY23Revenue $29.68BNet income $484.8M0001170010-25-000024 · filed 2025-04-11FY2024 · Revenue $26.54B · Net income $479.2M · 0001170010-26-000021 · filed 2026-04-15FY24Revenue $26.54BNet income $479.2M0001170010-26-000021 · filed 2026-04-15FY2025 · Revenue $26.35B · Net income $500.6M · 0001170010-26-000021 · filed 2026-04-15FY25Revenue $26.35BNet income $500.6M0001170010-26-000021 · filed 2026-04-15FY2026 · Revenue $25.88B · Net income $247.3M · 0001170010-26-000021 · filed 2026-04-15FY26Revenue $25.88BNet income $247.3M0001170010-26-000021 · filed 2026-04-15FY26Revenue $25.88BNet income $247.3M0001170010-26-000021 · filed 2026-04-15FY10FY12FY14FY16FY18FY20FY22FY24FY26

revenue 3.7× since FY2009 · net margin 0.8% → 1.0%

MarginsNet marginFCF margin
-10%-5%0%5%FY2009 · Net margin 0.8% · FCF margin 1.1%FY09Net margin 0.8%FCF margin 1.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 3.7% · FCF margin 0.5%FY10Net margin 3.7%FCF margin 0.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 4.2% · FCF margin -0.9%FY11Net margin 4.2%FCF margin -0.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 4.1% · FCF margin -2.3%FY12Net margin 4.1%FCF margin -2.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 4.0% · FCF margin -9.3%FY13Net margin 4.0%FCF margin -9.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 3.9% · FCF margin -7.3%FY14Net margin 3.9%FCF margin -7.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 4.2% · FCF margin -9.0%FY15Net margin 4.2%FCF margin -9.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 4.1% · FCF margin -2.9%FY16Net margin 4.1%FCF margin -2.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 3.9% · FCF margin -5.5%FY17Net margin 3.9%FCF margin -5.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 3.9% · FCF margin -2.2%FY18Net margin 3.9%FCF margin -2.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 4.6% · FCF margin -0.8%FY19Net margin 4.6%FCF margin -0.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 4.4% · FCF margin -2.8%FY20Net margin 4.4%FCF margin -2.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 3.9% · FCF margin 2.7%FY21Net margin 3.9%FCF margin 2.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 3.6% · FCF margin -9.0%FY22Net margin 3.6%FCF margin -9.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 1.6% · FCF margin 2.9%FY23Net margin 1.6%FCF margin 2.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 1.8% · FCF margin -0.0%FY24Net margin 1.8%FCF margin -0.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 1.9% · FCF margin 0.6%FY25Net margin 1.9%FCF margin 0.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2026 · Net margin 1.0% · FCF margin 4.8%FY26Net margin 1.0%FCF margin 4.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY26Net margin 1.0%FCF margin 4.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’10’14’18’22’26

FY2026: net 1.0% · free cash flow 4.8% of revenue

Cash engineOperating cash flowFree cash flow
−$2B$0$2BFY2009 · OCF $264.6M · FCF $78.9M · 0001170010-11-000026 · filed 2011-04-28FY09OCF $264.6MFCF $78.9M0001170010-11-000026 · filed 2011-04-28FY2010 · OCF $59.5M · FCF $37.1M · 0001193125-12-182512 · filed 2012-04-25FY10OCF $59.5MFCF $37.1M0001193125-12-182512 · filed 2012-04-25FY2011 · OCF −$6.8M · FCF −$83.3M · 0001193125-12-182512 · filed 2012-04-25FY11OCF −$6.8MFCF −$83.3M0001193125-12-182512 · filed 2012-04-25FY2012 · OCF −$62.2M · FCF −$234.8M · 0001193125-12-182512 · filed 2012-04-25FY12OCF −$62.2MFCF −$234.8M0001193125-12-182512 · filed 2012-04-25FY2013 · OCF −$778.4M · FCF −$1.01B · 0001170010-15-000008 · filed 2015-04-24FY13OCF −$778.4MFCF −$1.01B0001170010-15-000008 · filed 2015-04-24FY2014 · OCF −$613.2M · FCF −$923.5M · 0001170010-16-000117 · filed 2016-04-22FY14OCF −$613.2MFCF −$923.5M0001170010-16-000117 · filed 2016-04-22FY2015 · OCF −$968.1M · FCF −$1.28B · 0001170010-17-000053 · filed 2017-04-21FY15OCF −$968.1MFCF −$1.28B0001170010-17-000053 · filed 2017-04-21FY2016 · OCF −$116.8M · FCF −$432.3M · 0001170010-18-000054 · filed 2018-04-24FY16OCF −$116.8MFCF −$432.3M0001170010-18-000054 · filed 2018-04-24FY2017 · OCF −$455.3M · FCF −$873.5M · 0001170010-19-000040 · filed 2019-04-19FY17OCF −$455.3MFCF −$873.5M0001170010-19-000040 · filed 2019-04-19FY2018 · OCF −$80.5M · FCF −$377.4M · 0001170010-20-000033 · filed 2020-04-21FY18OCF −$80.5MFCF −$377.4M0001170010-20-000033 · filed 2020-04-21FY2019 · OCF $163.0M · FCF −$141.7M · 0001170010-21-000053 · filed 2021-04-20FY19OCF $163.0MFCF −$141.7M0001170010-21-000053 · filed 2021-04-20FY2020 · OCF −$236.6M · FCF −$568.5M · 0001170010-22-000017 · filed 2022-04-14FY20OCF −$236.6MFCF −$568.5M0001170010-22-000017 · filed 2022-04-14FY2021 · OCF $667.8M · FCF $503.2M · 0001170010-23-000010 · filed 2023-04-13FY21OCF $667.8MFCF $503.2M0001170010-23-000010 · filed 2023-04-13FY2022 · OCF −$2.55B · FCF −$2.86B · 0001170010-24-000034 · filed 2024-04-15FY22OCF −$2.55BFCF −$2.86B0001170010-24-000034 · filed 2024-04-15FY2023 · OCF $1.28B · FCF $860.6M · 0001170010-25-000024 · filed 2025-04-11FY23OCF $1.28BFCF $860.6M0001170010-25-000024 · filed 2025-04-11FY2024 · OCF $458.6M · FCF −$6.7M · 0001170010-26-000021 · filed 2026-04-15FY24OCF $458.6MFCF −$6.7M0001170010-26-000021 · filed 2026-04-15FY2025 · OCF $624.4M · FCF $156.5M · 0001170010-26-000021 · filed 2026-04-15FY25OCF $624.4MFCF $156.5M0001170010-26-000021 · filed 2026-04-15FY2026 · OCF $1.78B · FCF $1.24B · 0001170010-26-000021 · filed 2026-04-15FY26OCF $1.78BFCF $1.24B0001170010-26-000021 · filed 2026-04-15FY26OCF $1.78BFCF $1.24B0001170010-26-000021 · filed 2026-04-15’10’14’18’22’26

FY2026: $1.78B operating cash − $541.0M capex = $1.24B free cash flow

Returns on capitalReturn on equityReturn on assets
0%10%20%FY2010 · ROE 14.4% · ROA 10.9%FY10ROE 14.4%ROA 10.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 16.9% · ROA 5.3%FY11ROE 16.9%ROA 5.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 15.5% · ROA 5.0%FY12ROE 15.5%ROA 5.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 14.4% · ROA 4.4%FY13ROE 14.4%ROA 4.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 14.9% · ROA 4.2%FY14ROE 14.9%ROA 4.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 18.9% · ROA 4.5%FY15ROE 18.9%ROA 4.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 21.5% · ROA 4.3%FY16ROE 21.5%ROA 4.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 20.2% · ROA 3.9%FY17ROE 20.2%ROA 3.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 20.0% · ROA 3.8%FY18ROE 20.0%ROA 3.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 25.1% · ROA 4.5%FY19ROE 25.1%ROA 4.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 23.6% · ROA 4.2%FY20ROE 23.6%ROA 4.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 17.1% · ROA 3.5%FY21ROE 17.1%ROA 3.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 22.0% · ROA 4.4%FY22ROE 22.0%ROA 4.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 8.6% · ROA 1.9%FY23ROE 8.6%ROA 1.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 7.9% · ROA 1.8%FY24ROE 7.9%ROA 1.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 8.0% · ROA 1.8%FY25ROE 8.0%ROA 1.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2026 · ROE 4.2% · ROA 0.9%FY26ROE 4.2%ROA 0.9%derived: net income ÷ equity · derived: net income ÷ assetsFY26ROE 4.2%ROA 0.9%derived: net income ÷ equity · derived: net income ÷ assets’10’14’18’22’26

return on equity 14% (FY2010) → 4% (FY2026) · on assets 0.9%

Balance sheetLiabilitiesEquity
$0$10B$20BFY2010 · Liabilities $622.6M · Equity $1.93BFY10Liabilities $622.6MEquity $1.93B0001170010-11-000026 · filed 2011-04-28FY2011 · Liabilities $4.89B · Equity $2.24BFY11Liabilities $4.89BEquity $2.24B0001193125-12-182512 · filed 2012-04-25FY2012 · Liabilities $5.66B · Equity $2.67BFY12Liabilities $5.66BEquity $2.67B0001170010-13-000010 · filed 2013-04-26FY2013 · Liabilities $6.87B · Equity $3.02BFY13Liabilities $6.87BEquity $3.02B0001170010-14-000017 · filed 2014-04-25FY2014 · Liabilities $8.39B · Equity $3.32BFY14Liabilities $8.39BEquity $3.32B0001170010-15-000008 · filed 2015-04-24FY2015 · Liabilities $10.04B · Equity $3.16BFY15Liabilities $10.04BEquity $3.16B0001170010-16-000117 · filed 2016-04-22FY2016 · Liabilities $11.56B · Equity $2.90BFY16Liabilities $11.56BEquity $2.90B0001170010-17-000053 · filed 2017-04-21FY2017 · Liabilities $13.17B · Equity $3.11BFY17Liabilities $13.17BEquity $3.11B0001170010-18-000054 · filed 2018-04-24FY2018 · Liabilities $14.17B · Equity $3.32BFY18Liabilities $14.17BEquity $3.32B0001170010-19-000040 · filed 2019-04-19FY2019 · Liabilities $15.36B · Equity $3.36BFY19Liabilities $15.36BEquity $3.36B0001170010-20-000033 · filed 2020-04-21FY2020 · Liabilities $17.31B · Equity $3.77BFY20Liabilities $17.31BEquity $3.77B0001170010-21-000053 · filed 2021-04-20FY2021 · Liabilities $17.18B · Equity $4.36BFY21Liabilities $17.18BEquity $4.36B0001170010-22-000017 · filed 2022-04-14FY2022 · Liabilities $21.10B · Equity $5.24BFY22Liabilities $21.10BEquity $5.24B0001170010-23-000010 · filed 2023-04-13FY2023 · Liabilities $20.57B · Equity $5.61BFY23Liabilities $20.57BEquity $5.61B0001170010-24-000034 · filed 2024-04-15FY2024 · Liabilities $21.12B · Equity $6.07BFY24Liabilities $21.12BEquity $6.07B0001170010-25-000024 · filed 2025-04-11FY2025 · Liabilities $21.16B · Equity $6.24BFY25Liabilities $21.16BEquity $6.24B0001170010-26-000021 · filed 2026-04-15FY2026 · Liabilities $20.48B · Equity $5.89BFY26Liabilities $20.48BEquity $5.89B0001170010-26-000021 · filed 2026-04-15FY26Liabilities $20.48BEquity $5.89B0001170010-26-000021 · filed 2026-04-15’10’14’18’22’26

FY2026: $26.37B assets · $20.48B liabilities · $5.89B equity

The receipts