CarMax Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Feb 28, 2026 · FY), CarMax Inc. reported revenue of $25.9B (-1.8% year on year) and net income of $247.3M (-50.6% year on year).
| Line item | Feb 28, 2026 · FY | Feb 28, 2025 · FY | Feb 29, 2024 · FY | Feb 28, 2023 · FY |
|---|---|---|---|---|
| NET SALES AND OPERATING REVENUES | $25.9B | $26.4B | $26.5B | $29.7B |
| TOTAL COST OF SALES | $23.1B | $23.5B | $23.8B | $26.9B |
| GROSS PROFIT | $2.8B | $2.9B | $2.7B | $2.8B |
| CARMAX AUTO FINANCE INCOME | $562.7M | $581.7M | $568.3M | $663.4M |
| Selling, General and Administrative Expense | $2.5B | $2.4B | $2.3B | $2.5B |
| Depreciation, Depletion and Amortization, Nonproduction | $273.8M | $255.3M | $239.0M | $228.4M |
| Interest expense | $110.4M | $107.9M | $124.8M | $120.4M |
| Goodwill, Impairment Loss | $141.3M | — | — | — |
| Nonoperating Income (Expense) | $7.1M | $11.6M | ($10.3M) | ($9.4M) |
| Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | $383.4M | $669.4M | $641.6M | $636.8M |
| Income tax provision | $136.1M | $168.8M | $162.4M | $152.0M |
| Net earnings | $247.3M | $500.6M | $479.2M | $484.8M |
| Basic (in shares) | 147.3M | 155.3M | 158.2M | 158.8M |
| Diluted (in shares) | 147.6M | 156.1M | 158.7M | 159.8M |
| Basic (in dollars per share) | $1.68 | $3.22 | $3.03 | $3.05 |
| Diluted (in dollars per share) | $1.68 | $3.21 | $3.02 | $3.03 |
| Item as a percent of net sales and operating revenues | 2.2% | 2.2% | 2.2% | 2.2% |
| Line item | Aug 31, 2026 · Q2 | May 31, 2026 · Q1 | Nov 30, 2025 · Q3 | Aug 31, 2025 · Q2 |
|---|---|---|---|---|
| NET SALES AND OPERATING REVENUES | $7.9B | $8.0B | $5.8B | $6.6B |
| TOTAL COST OF SALES | $7.1B | $7.2B | $5.2B | $5.9B |
| GROSS PROFIT | $799.5M | $854.4M | $590.0M | $717.7M |
| CARMAX AUTO FINANCE INCOME | $135.6M | $140.2M | $174.7M | $102.6M |
| Selling, general and administrative expenses | $628.6M | $635.2M | $581.4M | $601.1M |
| Depreciation, Depletion and Amortization, Nonproduction | $70.1M | $69.2M | $68.9M | $67.3M |
| Interest expense | $31.8M | $33.8M | $26.1M | $28.5M |
| Other income | ($18.6M) | ($2.1M) | $4.5M | ($3.6M) |
| Earnings before income taxes | $223.1M | $258.6M | $83.9M | $127.1M |
| Income tax provision | $57.8M | $72.9M | $21.7M | $31.7M |
| NET EARNINGS | $165.3M | $185.6M | $62.2M | $95.4M |
| Basic, shares | 141.9M | 141.8M | 145.5M | 149.3M |
| Diluted, shares | 142.4M | 142.1M | 145.9M | 149.6M |
| Basic (in dollars per share) | $1.16 | $1.31 | $0.43 | $0.64 |
| Diluted (in dollars per share) | $1.16 | $1.31 | $0.43 | $0.64 |
| Item as a percent of net sales and operating revenues | 2.2% | 2.2% | 2.2% | 2.2% |
| Line item | Feb 28, 2026 · FY | Feb 28, 2025 · FY | Feb 29, 2024 · FY | Feb 28, 2023 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $122.8M | $247.0M | $574.1M | $314.8M |
| Restricted cash from collections on auto loans held for investment | $592.0M | $559.1M | $506.6M | $470.9M |
| Accounts receivable, net | $204.5M | $188.7M | $221.2M | $298.8M |
| Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | $100.5M | — | — | — |
| Inventory | $4.1B | $3.9B | $3.7B | $3.7B |
| Other current assets | $153.6M | $148.2M | $246.6M | $230.8M |
| TOTAL CURRENT ASSETS | $5.3B | $5.1B | $5.2B | $5.0B |
| Auto loans held for investment, net of allowance for loan losses of $453,027 and $458,730 as of February 28, 2026 and February 28, 2025, respectively | $16.0B | $17.2B | $17.0B | $16.3B |
| Property and equipment, net | $4.1B | $3.8B | $3.7B | $3.4B |
| Deferred income taxes | $78.5M | $140.3M | $98.8M | $80.7M |
| Operating lease assets | $459.5M | $493.4M | $520.7M | $545.7M |
| Goodwill | $0 | $141.3M | $141.3M | $141.3M |
| Other assets | $496.9M | $467.0M | $532.1M | $601.0M |
| TOTAL ASSETS | $26.4B | $27.4B | $27.2B | $26.2B |
| Accounts payable | $1.1B | $977.8M | $933.7M | $826.6M |
| Accrued expenses and other current liabilities | $475.5M | $529.9M | $524.0M | $479.0M |
| Accrued income taxes | $2.0M | $87.5M | — | — |
| Current portion of operating lease liabilities | $57.3M | $59.3M | $57.2M | $53.3M |
| Current portion of long-term debt | $217.3M | $16.8M | $313.3M | $111.9M |
| Current portion of non-recourse notes payable | $544.7M | $526.5M | $484.2M | $467.6M |
| TOTAL CURRENT LIABILITIES | $2.4B | $2.2B | $2.3B | $1.9B |
| Long-term debt, excluding current portion | $2.0B | $1.6B | $1.6B | $1.9B |
| Non-recourse notes payable, excluding current portion | $15.3B | $16.6B | $16.4B | $15.9B |
| Operating lease liabilities, excluding current portion | $464.7M | $482.0M | $496.2M | $523.8M |
| Other liabilities | $339.0M | $343.9M | $354.9M | $332.4M |
| TOTAL LIABILITIES | $20.5B | $21.2B | $21.1B | $20.6B |
| Common stock, $0.50 par value; 350,000,000 shares authorized; 141,799,070 and 153,319,678 shares issued and outstanding as of February 28, 2026 and February 28, 2025, respectively | 70.9M | 76.7M | 78.8M | 79.0M |
| Capital in excess of par value | $1.8B | $1.9B | $1.8B | $1.7B |
| Accumulated other comprehensive (loss) income | ($34.1M) | $3.1M | $59.3M | $97.9M |
| Retained earnings | $4.0B | $4.3B | $4.1B | $3.7B |
| TOTAL SHAREHOLDERS’ EQUITY | $5.9B | $6.2B | $6.1B | $5.6B |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $26.4B | $27.4B | $27.2B | $26.2B |
| Line item | Aug 31, 2026 | May 31, 2026 | Nov 30, 2025 | Aug 31, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $170.5M | $132.2M | $204.9M | $540.4M |
| Restricted cash from collections on auto loans held for investment | $604.9M | $595.1M | $567.4M | $618.8M |
| Accounts receivable, net | $224.6M | $263.9M | $151.1M | $173.6M |
| Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | $106.5M | $619.0M | $0 | $921.9M |
| Inventory | $3.9B | $4.1B | $3.1B | $3.1B |
| Other current assets | $146.9M | $161.3M | $146.8M | $137.8M |
| TOTAL CURRENT ASSETS | $5.1B | $5.8B | $4.2B | $5.5B |
| Auto loans held for investment, net of allowance for loan losses of $497,287 and $453,027 as of August 31, 2026 and February 28, 2026, respectively | $15.8B | $15.7B | $16.2B | $16.4B |
| Property and equipment, net of accumulated depreciation of $2,361,254 and $2,217,485 as of August 31, 2026 and February 28, 2026, respectively | $4.1B | $4.1B | $4.0B | $4.0B |
| Deferred Income Tax Assets, Net | $81.9M | $72.9M | $73.5M | $105.7M |
| Operating lease assets | $441.0M | $451.4M | $475.1M | $476.4M |
| Other assets | $546.6M | $498.3M | $499.7M | $459.0M |
| TOTAL ASSETS | $26.1B | $26.6B | $25.6B | $27.1B |
| Accounts payable | $989.5M | $1.1B | $887.5M | $913.4M |
| Accrued expenses and other current liabilities | $525.7M | $417.8M | $418.0M | $478.0M |
| Accrued income taxes | $32.1M | $54.2M | $4.1M | $4.9M |
| Current portion of operating lease liabilities | $57.0M | $57.0M | $57.2M | $57.9M |
| Current portion of long-term debt | $17.7M | $17.2M | $216.9M | $216.9M |
| Current portion of non-recourse notes payable | $571.7M | $554.1M | $522.6M | $581.0M |
| TOTAL CURRENT LIABILITIES | $2.2B | $2.2B | $2.1B | $2.3B |
| Long-term debt, excluding current portion | $1.7B | $2.1B | $1.2B | $1.4B |
| Non-recourse notes payable, excluding current portion | $15.1B | $15.5B | $15.4B | $16.4B |
| Operating lease liabilities, excluding current portion | $439.0M | $453.4M | $462.4M | $463.8M |
| Other liabilities | $345.3M | $336.9M | $342.4M | $345.9M |
| TOTAL LIABILITIES | $19.8B | $20.5B | $19.5B | $20.9B |
| Common stock, $0.50 par value; 350,000,000 shares authorized; 141,934,489 and 141,799,070 shares issued and outstanding as of August 31, 2026 and February 28, 2026, respectively | 71.0M | 71.0M | 71.5M | 73.8M |
| Capital in excess of par value | $1.8B | $1.8B | $1.8B | $1.9B |
| Accumulated other comprehensive loss | ($5.7M) | ($13.9M) | ($27.3M) | ($21.3M) |
| Retained earnings | $4.4B | $4.2B | $4.2B | $4.3B |
| TOTAL SHAREHOLDERS’ EQUITY | $6.3B | $6.1B | $6.1B | $6.2B |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $26.1B | $26.6B | $25.6B | $27.1B |
| Line item | Feb 28, 2026 · FY | Feb 28, 2025 · FY | Feb 29, 2024 · FY | Feb 28, 2023 · FY |
|---|---|---|---|---|
| Net earnings | $247.3M | $500.6M | $479.2M | $484.8M |
| Depreciation and amortization | $346.0M | $294.8M | $260.4M | $265.2M |
| Share-based compensation expense | $99.0M | $134.7M | $119.7M | $85.6M |
| Provision for loan losses | $391.2M | $334.7M | $310.5M | $317.0M |
| Provision for cancellation reserves | $75.8M | $97.7M | $80.3M | $98.1M |
| Deferred income tax provision (benefit) | $73.8M | ($23.7M) | ($4.8M) | ($6.5M) |
| Proceeds from Sale, Loan, Held-for-Sale | $908.9M | — | — | — |
| Goodwill, Impairment Loss | $141.3M | — | — | — |
| Other | $9.3M | $20.8M | $9.3M | $4.8M |
| Accounts receivable, net | ($15.7M) | $32.4M | $77.6M | $262.2M |
| Financing Receivable, Held-for-Sale, Not Part of Disposal Group, Reconciliation to Cash Flow, Period Increase (Decrease) | ($100.5M) | — | — | — |
| Inventory | ($202.4M) | ($256.6M) | $48.1M | $1.4B |
| Other current assets | ($7.8M) | $109.2M | $39.9M | $103.2M |
| Auto loans held for investment, net | ($31.3M) | ($565.6M) | ($980.6M) | ($1.4B) |
| Other assets | ($32.0M) | ($19.2M) | ($13.9M) | ($52.3M) |
| Accounts payable, accrued expenses and other current liabilities and accrued income taxes | ($43.8M) | $71.7M | $118.5M | ($197.7M) |
| Accounts payable, accrued expenses and other | ($75.3M) | ($107.0M) | ($85.7M) | ($110.4M) |
| Cash Provided by (Used in) Operating Activity, Including Discontinued Operation | $1.8B | $624.4M | $458.6M | $1.3B |
| Proceeds from disposal of property and equipment | ($541.0M) | ($467.9M) | ($465.3M) | ($422.7M) |
| Proceeds from Sale of Property, Plant, and Equipment | $418.0K | $333.0K | $1.4M | $5.2M |
| Purchases of investments | ($10.0M) | ($10.7M) | ($6.2M) | ($12.5M) |
| Sales and returns of investments | $3.0M | $17.3M | $3.2M | $4.3M |
| Principal payments received on beneficial interests | $7.5M | — | — | — |
| Cash Provided by (Used in) Investing Activity, Including Discontinued Operation | ($540.0M) | ($461.0M) | ($467.0M) | ($425.8M) |
| Proceeds from issuances of long-term debt | $1.5B | $522.8M | $134.6M | $3.0B |
| Payments on long-term debt | ($913.8M) | ($836.6M) | ($246.1M) | ($4.3B) |
| Cash paid for debt issuance costs | ($24.2M) | ($21.3M) | ($21.6M) | ($19.8M) |
| Finance Lease, Principal Payments | ($15.0M) | ($16.5M) | ($16.7M) | ($12.2M) |
| Issuances of non-recourse notes payable | $13.1B | $13.0B | $12.4B | $14.3B |
| Payments on non-recourse notes payable | ($14.4B) | ($12.7B) | ($11.9B) | ($13.4B) |
| Repurchase and retirement of common stock | ($642.8M) | ($428.5M) | ($94.1M) | ($333.9M) |
| Equity issuances | $8.3M | $73.7M | $44.8M | $17.1M |
| Cash Provided by (Used in) Financing Activity, Including Discontinued Operation | ($1.3B) | ($453.5M) | $307.8M | ($710.2M) |
| (Decrease) increase in cash, cash equivalents, and restricted cash | ($97.5M) | ($290.1M) | $299.4M | $147.4M |
| Cash, cash equivalents, and restricted cash at beginning of year | $960.3M | $1.3B | $951.0M | $803.6M |
| Cash and cash equivalents | $122.8M | $247.0M | $574.1M | $314.8M |
| Restricted cash from collections on auto loans held for investment | $592.0M | $559.1M | $506.6M | $470.9M |
| Restricted cash included in other assets | $148.0M | $154.2M | $169.6M | $165.4M |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF YEAR | $862.9M | $960.3M | $1.3B | $951.0M |
| Line item | Aug 31, 2026 · YTD | May 31, 2026 · Q1 | Nov 30, 2025 · YTD | Aug 31, 2025 · YTD |
|---|---|---|---|---|
| Net earnings | $350.9M | $185.6M | $368.0M | $305.8M |
| Depreciation and amortization | $188.1M | $92.9M | $252.2M | $163.7M |
| Share-based compensation expense | $74.3M | $41.9M | $87.4M | $71.3M |
| Provision for Loan, Lease, and Other Losses | $209.0M | $95.6M | $317.3M | $243.9M |
| Provision for cancellation reserves | $53.3M | $26.2M | $57.2M | $41.9M |
| Deferred income tax (benefit) provision | ($12.6M) | ($991.0K) | $76.6M | $42.4M |
| Proceeds from Sale, Loan, Held-for-Sale | $579.9M | — | $909.0M | — |
| Other | ($39.9M) | ($3.3M) | ($18.8M) | $1.4M |
| Accounts receivable, net | ($19.5M) | ($59.5M) | $37.6M | $15.2M |
| Financing Receivable, Held-for-Sale, Not Part of Disposal Group, Reconciliation to Cash Flow, Period Increase (Decrease) | ($106.5M) | ($518.5M) | — | ($921.9M) |
| Inventory | $282.2M | $74.2M | $806.7M | $785.1M |
| Other current assets | $28.8M | $6.5M | ($2.9M) | $6.3M |
| Auto loans held for investment, net | ($564.4M) | $166.8M | ($156.3M) | $612.6M |
| Other assets | ($17.3M) | ($8.1M) | ($19.6M) | ($13.9M) |
| Accounts payable, accrued expenses and other current liabilities and accrued income taxes | ($51.6M) | ($58.3M) | ($321.0M) | ($230.5M) |
| Other liabilities | ($54.1M) | ($23.5M) | ($55.1M) | ($38.2M) |
| Cash Provided by (Used in) Operating Activity, Including Discontinued Operation | $900.5M | $17.6M | $2.3B | $1.1B |
| Capital expenditures | ($180.4M) | ($103.3M) | ($408.0M) | ($268.2M) |
| Proceeds from disposal of property and equipment | $253.0K | $63.0K | $385.0K | $348.0K |
| Purchases of investments | ($3.4M) | ($1.7M) | ($8.8M) | ($5.8M) |
| Sales and returns of investments | $2.8M | $845.0K | $1.9M | $1.2M |
| Proceeds from Collection of Retained Interest in Securitized Receivables | $10.5M | $4.5M | $3.1M | — |
| Cash Provided by (Used in) Investing Activity, Including Discontinued Operation | ($170.3M) | ($99.6M) | ($411.3M) | ($272.5M) |
| Proceeds from issuances of long-term debt | $3.1B | $1.5B | $87.0M | $87.0M |
| Payments on long-term debt | ($3.6B) | ($1.7B) | ($299.0M) | ($95.0M) |
| Cash paid for debt issuance costs | ($11.2M) | ($6.0M) | ($18.6M) | ($13.3M) |
| Payments on finance lease obligations | ($8.4M) | ($4.1M) | ($11.0M) | ($7.1M) |
| Issuances of non-recourse notes payable | $6.7B | $3.3B | $9.6B | $6.8B |
| Payments on non-recourse notes payable | ($6.8B) | ($3.0B) | ($10.7B) | ($6.9B) |
| Repurchase and retirement of common stock | ($2.6M) | ($2.3M) | ($588.4M) | ($384.9M) |
| Equity issuances | $83.0K | $0 | $8.3M | $8.3M |
| Cash Provided by (Used in) Financing Activity, Including Discontinued Operation | ($677.3M) | $90.5M | ($2.0B) | ($467.7M) |
| Increase in cash, cash equivalents, and restricted cash | $52.9M | $8.5M | ($47.5M) | $344.9M |
| Cash, cash equivalents, and restricted cash at beginning of year | $862.9M | $862.9M | $960.3M | $960.3M |
| Cash and cash equivalents | $170.5M | $132.2M | $204.9M | $540.4M |
| Restricted cash from collections on auto loans held for investment | $604.9M | $595.1M | $567.4M | $618.8M |
| Restricted cash included in other assets | $140.3M | $144.0M | $140.5M | $146.0M |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD | $915.8M | $871.3M | $912.8M | $1.3B |
CarMax Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.