STOCK · KMX · NYSE
CarMax Inc trades under the ticker symbol KMX on the NYSE. This page brings together its live stock price, an interactive price chart, and key fundamentals like market capitalization, 52-week range, dividend yield, and the next earnings date, with plain-English context to help you understand what the numbers mean.
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CarMax is the largest used-vehicle retailer in the United States. It buys, reconditions, and sells used cars through a mix of physical superstores and an online platform, letting customers shop in store, entirely online, or a combination of both.
A large share of CarMax's profit comes from CarMax Auto Finance, its in-house lending arm that provides financing to many of its buyers. That makes results sensitive both to used-car pricing and to interest rates, which affect how much customers can afford to borrow.
The used-car market is huge but highly fragmented, so CarMax competes mainly against thousands of small independent dealers rather than a few large rivals. Its scale in sourcing, reconditioning, and inventory is its main advantage.
Source: CarMax SEC filings (10-K) and investor relations · Last reviewed July 2026
CarMax Inc scores 55 out of 100 (grade C) across the 4 measures we can read from its filings. Its strongest measure is balance-sheet health (grade B); its weakest is profitability (grade D).
Rule-based grades derived from annual figures reported to the SEC. Descriptive, not a rating of the investment.
CarMax grew its revenue slowly (about 5.6% a year) over the 9 years through FY2026, but profit grew more slowly than sales, so margins came under pressure. Its profit margin held roughly steady. Free cash flow grew alongside profit.
Volatile. Revenue went from $15.9B in FY2017 to $25.9B in FY2026, about 5.6% a year. The top line is still expanding, the first sign the business is still in demand.
Volatile. Profit went from $627M in FY2017 to $247M in FY2026, about -9.8% a year. Profit has slipped, which is worth understanding before anything else.
gross margin went from 13.8% to 10.8% (volatile); net margin went from 3.9% to 1.0% (volatile). Margins have held roughly steady, so the business keeps about the same slice of each dollar.
Steady. Free cash flow went from -$873M in FY2017 to $1.2B in FY2026. The profit is showing up as real cash, which is what you want to see.
Over the last 10 years the company returned about $4.9B through buybacks to shareholders. Whether that cash was spent well depends on the price paid for the stock, which this section does not judge. It shows the choices, not a verdict.
Derived from the annual figures this company reported to the SEC. What is described already happened; it is not a forecast.
Slipping. CarMax keeps about 10.8% of every sales dollar before overhead, and that share has slipped over the last 9 years.
The Investment Case describes CarMax's competitive advantages, and the risks that could erode them.
These are the quality measures the financial statements support. Several others, such as brand strength and customer concentration, need human judgment and are not measured automatically.
Historically, the company has reinvested in the business and returned cash mainly through buybacks.
On average, capital spending used about 75% of operating cash flow across 6 fiscal years (FY2019-FY2026) - a large share of the cash the business generated went back into it.
Reported share repurchases in 10 of the 10 fiscal years shown, totaling about $4.9B (FY2017-FY2026). The reported share count fell about 24% from FY2017 to FY2026.
The total debt balance rose over the window: about $12.2B in FY2017 vs about $18.1B in FY2026. This describes the balance's direction, not repayments.
As of FY2026, held about $123M in cash and equivalents vs about $18.1B of total debt - more total debt than cash at that date.
Derived from annual figures this company reported to the SEC (EDGAR XBRL company facts). Descriptive history only: not a forecast, not a rating, not investment advice.
What has varied in CarMax Inc's past filings, and what to keep an eye on. Descriptive, not a forecast and not a rating.
CarMax is the largest used-car retailer in a market still dominated by thousands of small independent dealers, and the clearest way to understand it is as two businesses working together. The first is a high-volume retail operation that buys, reconditions, and sells used vehicles at scale, which gives CarMax selection and consistency that small dealers struggle to match. The second is CarMax Auto Finance, an in-house lender that earns interest on many of those sales and turns each car sold into a longer stream of income. That combination is also what makes the company doubly exposed to the economic cycle, because a downturn or a jump in interest rates can slow unit sales and raise loan losses at the same time. The long-term question is whether CarMax can keep taking share of a fragmented market through its omnichannel model while managing the credit risk that comes with financing its own customers.
Educational analysis from public filings. This is not a recommendation to buy or sell any security.
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Sources: CarMax 10-K (SEC EDGAR), CarMax Investor Relations · Last reviewed July 2026
CarMax is the largest used-car retailer in a market still dominated by thousands of small independent dealers, and the clearest way to understand it is as two businesses working together. The first is a high-volume retail operation that buys, reconditions, and sells used vehicles at scale, which gives CarMax selection and consistency that small dealers struggle to match.
Scale in buying, reconditioning, and inventory management lets CarMax offer wide selection and consistent quality that independent dealers cannot easily replicate, which is a genuine advantage in a fragmented market.
The used-car market is enormous and fragmented, so even modest share gains from small dealers can drive years of unit growth.
Results are cyclical: a weak economy or high interest rates can cut unit sales and raise loan losses at once.
A weak used-car market or rising interest rates can cut unit sales and financing income at the same time. Online-only sellers and franchise dealers investing in used cars increase competition.
CarMax does not pay a dividend, so the trailing valuation lenses focus on earnings, sales, and cash flow rather than yield. Because a meaningful share of profit comes from lending, reported earnings can move with loan-loss provisions as well as retail volumes, which is worth remembering when reading any single year's multiple.
Used-vehicle unit sales and whether CarMax is gaining or losing share.
Educational content only. Market data is delayed and is not financial advice. Always do your own research and consult a licensed professional before investing.