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Carmax Inc Stock Research

KMX

57.78USD+1.05(+1.85%)Market Closed

Market Summary

USD57.78+1.05
Market Closed
1.85%

KMX Stock Price

KMX RSI Chart

KMX Valuation

Market Cap

9.1B

Price/Earnings (Trailing)

15.86

Price/Sales (Trailing)

0.29

EV/EBITDA

7.68

Price/Free Cashflow

11.5

KMX Price/Sales (Trailing)

KMX Profitability

Operating Margin

9.16%

EBT Margin

2.39%

Return on Equity

10.49%

Return on Assets

2.22%

Free Cashflow Yield

8.7%

KMX Fundamentals

KMX Revenue

Revenue (TTM)

31.6B

Revenue Y/Y

-23.71%

Revenue Q/Q

-20.12%

KMX Earnings

Earnings (TTM)

575.6M

Earnings Y/Y

-86.05%

Earnings Q/Q

-70.15%

Price Action

52 Week Range

52.10106.24
(Low)(High)

Last 7 days

-1.2%

Last 30 days

-16.8%

Last 90 days

-4.0%

Trailing 12 Months

-41.8%

KMX Financial Health

Current Ratio

2.57

KMX Investor Care

Buy Backs (1Y)

2.46%

Diluted EPS (TTM)

3.57

Peers (Alternatives to Carmax)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
287.5B
157.4B
-4.48% -8.67%
16.81
1.83
4.13% 4.09%
50.6B
14.4B
-3.77% 15.78%
23.27
3.51
8.12% 0.37%
44.3B
16.6B
-9.27% 15.68%
18.34
2.67
9.40% 5.72%
9.1B
31.6B
-16.85% -41.80%
15.86
0.29
7.73% -52.09%
MID-CAP
9.3B
27.8B
-10.01% 32.05%
6.71
0.33
8.84% 16.18%
6.6B
11.2B
-22.83% -47.92%
13.09
0.59
1.43% -18.54%
5.9B
27.0B
-13.37% 9.90%
4.31
0.22
4.41% 0.32%
5.8B
28.2B
-17.52% -33.88%
4.63
0.21
23.46% 18.01%
5.7B
23.4B
-7.70% 29.37%
8.48
0.24
35.05% 69.54%
4.4B
15.4B
-13.37% 14.02%
4.4
0.28
66.05% 78.54%
SMALL-CAP
1.3B
10.8B
2.29% 92.05%
7.94
0.12
47.82% 180.33%
804.4M
7.0B
-18.57% -34.19%
5.87
0.12
0.77% -50.82%
473.8M
1.3B
-4.64% -13.46%
7.61
0.35
25.02% -44.81%
129.1M
1.3B
-8.86% -41.55%
1.94
0.1
7.44% -19.05%
92.2M
-
64.08% -52.53%
1.2K
0.29
- -

Financials for Carmax

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue-6.0%31,64933,67133,51431,90029,378
Cost Of Revenue-5.8%28,74930,51130,27628,61326,160
Gross Profit-8.2%2,9003,1603,2383,2883,218
  S&GA Expenses0.6%2,5352,5202,4282,3252,211
EBITDA-21.3%1,1001,3971,582--
EBITDA Margin-16.2%0.03*0.04*0.05*--
Earnings Before Taxes-28.8%7551,0611,2621,4921,553
EBT Margin-24.3%0.02*0.03*0.04*--
Interest Expenses5.2%11911310294.0088.00
Net Income-28.7%5768079671,1511,201
Net Income Margin-24.2%0.02*0.02*0.03*--
Free Cahsflow174.9%794-1,059-2,250--
Balance Sheet
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets-2.0%25,93926,47126,33926,33825,575
  Current Assets-15.1%4,9845,8726,1186,5495,955
    Cash Equivalents1113.0%68957.0095.0010363.00
  Inventory-26.9%3,4154,6724,6915,1254,659
  Net PPE1.9%3,3753,3133,2593,2093,176
  Goodwill0%141141141141141
Liabilities-2.9%20,45121,05620,93821,10320,465
  Current Liabilities-9.2%1,9372,1322,2522,0472,057
    LT Debt, Current0.2%11311311211.0011.00
Shareholder's Equity1.4%5,4885,4145,4015,2355,110
  Retained Earnings1.0%3,6543,6193,6373,5243,456
  Additional Paid-In Capital0.8%1,6971,6841,6781,6771,673
Accumulated Depreciation2.6%1,5851,5451,4941,4381,542
Shares Outstanding0.0%158158160161162
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations274.6%1,195-684-1,906-2,549-2,283
  Share Based Compensation-21.8%65.0083.0091.00109157
Cashflow From Investing-16.8%-409-350-559-523-438
Cashflow From Financing-122.7%-2301,0132,1753,1052,618
  Buy Backs-21.0%424536594576531

Risks for KMX

What is the probability of a big loss on KMX?

72.7%


Probability that Carmax stock will be more than 20% underwater in next one year

43.9%


Probability that Carmax stock will be more than 30% underwater in next one year.

38.5%


Probability that Carmax stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does KMX drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Carmax was unfortunately bought at previous high price.

Drawdowns

Returns for KMX

Cumulative Returns on KMX

3.5%


10-Year Cumulative Returns

2.4%


7-Year Cumulative Returns

-0.5%


5-Year Cumulative Returns

0.9%


3-Year Cumulative Returns

What are the long-term rolling returns for KMX?

FIve years rolling returns for Carmax.

Annualized Returns

Which funds bought or sold KMX recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-10
BAILLIE GIFFORD & CO
added
224
5,541,210
8,324,210
0.01%
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
added
19.33
472,577
5,166,580
0.01%
2023-03-08
SHEETS SMITH WEALTH MANAGEMENT
reduced
-17.41
-632,452
2,021,550
0.32%
2023-03-06
Rockefeller Capital Management L.P.
reduced
-25.96
-127,000
274,000
-%
2023-03-02
LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA
new
-
3,653
3,653
-%
2023-03-01
Lakewood Asset Management LLC
new
-
1,377,000
1,377,000
1.11%
2023-02-28
Voya Investment Management LLC
reduced
-2.14
-544,594
5,045,410
0.01%
2023-02-27
ST GERMAIN D J CO INC
new
-
44,145
44,145
0.01%
2023-02-24
NATIXIS
sold off
-100
-2,438,000
-
-%
2023-02-24
National Pension Service
reduced
-91.15
-17,138,200
1,544,660
-%

1–10 of 46

Latest Funds Activity

Are funds buying KMX calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own KMX
No. of Funds

Carmax News

MarketBeat

Kovitz Investment Group Partners LLC Buys 3208 Shares of CarMax ....

MarketBeat,
13 hours ago

Yahoo Finance

The Motley Fool

InvestorsObserver

The Business Journals

Nasdaq

The Motley Fool

Yahoo Finance

Schedule 13G FIlings of Carmax

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 15, 2023
principal global investors
6.34%
10,022,302
SC 13G/A
Feb 13, 2023
capital research global investors
5.1%
7,997,343
SC 13G
Feb 09, 2023
vanguard group inc
11.28%
17,821,225
SC 13G/A
Feb 01, 2023
blackrock inc.
6.6%
10,449,547
SC 13G/A
Feb 15, 2022
principal global investors
5.33%
8,631,463
SC 13G/A
Feb 09, 2022
vanguard group inc
10.74%
17,386,633
SC 13G/A
Feb 03, 2022
blackrock inc.
6.3%
10,200,300
SC 13G/A
Nov 08, 2021
primecap management co/ca/
4.49%
7,278,317
SC 13G/A
Feb 16, 2021
principal global investors
5.64%
9,174,243
SC 13G
Feb 12, 2021
primecap management co/ca/
5.26%
8,582,253
SC 13G/A

KMX Fair Value

Carmax fair value in different scenarios

The table shows the Fair Value estimates for Carmax for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

124.42

115.33%

150.75

160.90%

208.54

260.92%

317.68

449.81%

446.73

673.16%
Current Inflation

114.19

97.63%

136.49

136.22%

185.20

220.53%

277.42

380.13%

386.53

568.97%
Very High Inflation

101.58

75.80%

119.24

106.37%

157.64

172.83%

230.74

299.34%

317.27

449.10%

Historical Carmax Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of Carmax

View All Filings
Date Filed Form Type Document
Feb 15, 2023
SC 13G/A
Major Ownership Report
Feb 13, 2023
SC 13G
Major Ownership Report
Feb 09, 2023
SC 13G/A
Major Ownership Report
Feb 01, 2023
SC 13G/A
Major Ownership Report
Jan 06, 2023
10-Q
Quarterly Report
Jan 03, 2023
4
Insider Trading
Dec 30, 2022
4
Insider Trading
Dec 28, 2022
4
Insider Trading
Dec 28, 2022
4
Insider Trading
Dec 22, 2022
8-K
Current Report

Latest Insider Trading transactions for KMX

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2022-12-30
Nash William D
bought
501,256
60.98
8,220
president & ceo
2022-12-26
Mayor-Mora Enrique N
acquired
-
-
331
evp & cfo
2022-12-26
Livesay Jill A
sold (taxes)
-61,363
60.16
-1,020
vp, controller & pao
2022-12-26
Mayor-Mora Enrique N
sold (taxes)
-9,024
60.16
-150
evp & cfo
2022-07-21
Cafritz Diane L
sold
-1,473,840
94.75
-15,555
evp, general counsel & chro
2022-07-21
Cafritz Diane L
acquired
908,101
58.38
15,555
evp, general counsel & chro
2022-07-18
Shamim Mohammad
sold
-324,553
93.91
-3,456
evp and cito
2022-07-01
Satriano Pietro
acquired
-
-
1,996
-
2022-07-01
FOLLIARD THOMAS J
acquired
-
-
1,996
-
2022-07-01
Cafritz Diane L
acquired
875,700
58.38
15,000
evp, general counsel & chro

1–10 of 50

William D. Nash
32600
CarMax, Inc., together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions. The company also provides reconditioning and vehicle repair services; and financing alternatives for retail customers across a range of credit spectrum through its CarMax Auto Finance and arrangements with various financial institutions. As of February 28, 2022, it operated approximately 230 used car stores. CarMax, Inc. was founded in 1993 and is based in Richmond, Virginia.

KMX Income Statement

2022-11-30
Consolidated Statements Of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended9 Months Ended
Nov. 30, 2022
Nov. 30, 2021
Nov. 30, 2022
Nov. 30, 2021
SALES AND OPERATING REVENUES:    
NET SALES AND OPERATING REVENUES$ 6,505,956$ 8,527,759$ 23,962,380$ 24,213,717
TOTAL COST OF SALES5,929,2687,691,19921,773,15621,637,164
GROSS PROFIT 576,688836,5602,189,2242,576,553
CARMAX AUTO FINANCE INCOME 152,196165,968539,538607,732
Selling, general and administrative expenses591,727575,9301,914,5081,704,285
Depreciation, Depletion and Amortization, Nonproduction57,37754,428170,717157,107
Interest expense30,15024,30391,67067,247
Other income(363)(8,094)(2,303)(35,453)
Earnings before income taxes49,993355,961554,1701,291,099
Income tax provision12,41386,523138,420299,638
NET EARNINGS $ 37,580$ 269,438$ 415,750$ 991,461
WEIGHTED AVERAGE COMMON SHARES:    
Basic, shares158,003162,006159,044162,710
Diluted, shares158,536164,873160,195165,606
NET EARNINGS PER SHARE:    
Basic (in dollars per share)$ 0.24$ 1.66$ 2.61$ 6.09
Diluted (in dollars per share)$ 0.24$ 1.63$ 2.60$ 5.99
Used vehicle sales    
SALES AND OPERATING REVENUES:    
NET SALES AND OPERATING REVENUES$ 5,204,584$ 6,435,590$ 18,503,159$ 18,697,300
TOTAL COST OF SALES4,801,7905,927,23717,041,89817,085,416
Wholesale vehicle sales    
SALES AND OPERATING REVENUES:    
NET SALES AND OPERATING REVENUES1,152,2071,922,2834,959,0504,998,212
TOTAL COST OF SALES1,037,5341,710,1034,512,0534,411,175
Total other sales and revenues    
SALES AND OPERATING REVENUES:    
NET SALES AND OPERATING REVENUES149,165169,886500,171518,205
TOTAL COST OF SALES$ 89,944$ 53,859$ 219,205$ 140,573
NET SALES AND OPERATING REVENUES    
Percentage of Sales    
Item as a percent of net sales and operating revenues100.00%100.00%100.00%100.00%
TOTAL COST OF SALES    
Percentage of Sales    
Item as a percent of net sales and operating revenues91.10%90.20%90.90%89.40%
GROSS PROFIT     
Percentage of Sales    
Item as a percent of net sales and operating revenues8.90%9.80%9.10%10.60%
CARMAX AUTO FINANCE INCOME     
Percentage of Sales    
Item as a percent of net sales and operating revenues2.30%1.90%2.30%2.50%
Selling, general and administrative expenses    
Percentage of Sales    
Item as a percent of net sales and operating revenues9.10%6.80%8.00%7.00%
Depreciation and Amortization, Nonproduction    
Percentage of Sales    
Item as a percent of net sales and operating revenues0.90%0.60%0.70%0.60%
Interest expense    
Percentage of Sales    
Item as a percent of net sales and operating revenues0.50%0.30%0.40%0.30%
Other income    
Percentage of Sales    
Item as a percent of net sales and operating revenues0.00%(0.10%)0.00%(0.10%)
Earnings before income taxes    
Percentage of Sales    
Item as a percent of net sales and operating revenues0.80%4.20%2.30%5.30%
Income tax provision    
Percentage of Sales    
Item as a percent of net sales and operating revenues0.20%1.00%0.60%1.20%
NET EARNINGS     
Percentage of Sales    
Item as a percent of net sales and operating revenues0.60%3.20%1.70%4.10%
NET SALES AND OPERATING REVENUES | Used vehicle sales    
Percentage of Sales    
Item as a percent of net sales and operating revenues80.00%75.50%77.20%77.20%
NET SALES AND OPERATING REVENUES | Wholesale vehicle sales    
Percentage of Sales    
Item as a percent of net sales and operating revenues17.70%22.50%20.70%20.60%
NET SALES AND OPERATING REVENUES | Total other sales and revenues    
Percentage of Sales    
Item as a percent of net sales and operating revenues2.30%2.00%2.10%2.10%
TOTAL COST OF SALES | Used vehicle sales    
Percentage of Sales    
Item as a percent of net sales and operating revenues73.80%69.50%71.10%70.60%
TOTAL COST OF SALES | Wholesale vehicle sales    
Percentage of Sales    
Item as a percent of net sales and operating revenues15.90%20.10%18.80%18.20%
TOTAL COST OF SALES | Total other sales and revenues    
Percentage of Sales    
Item as a percent of net sales and operating revenues1.40%0.60%0.90%0.60%

KMX Balance Sheet

2022-11-30
Consolidated Balance Sheets - USD ($)
$ in Thousands
Nov. 30, 2022
Feb. 28, 2022
CURRENT ASSETS:  
Cash and cash equivalents$ 688,618$ 102,716
Restricted cash from collections on auto loans receivable466,525548,099
Accounts receivable, net246,794560,984
Inventory3,414,9375,124,569
Other current assets167,143212,922
TOTAL CURRENT ASSETS 4,984,0176,549,290
Auto loans receivable, net of allowance for loan losses of $491,047 and $433,030 as of November 30, 2022 and February 28, 2022, respectively16,240,83215,289,701
Property and equipment, net of accumulated depreciation of $1,585,271 and $1,437,548 as of November 30, 2022 and February 28, 2022, respectively3,375,0013,209,068
Deferred Income Tax Assets, Net87,262120,931
Operating lease assets529,781537,357
Goodwill141,258141,258
Other assets580,790490,659
TOTAL ASSETS 25,938,94126,338,264
CURRENT LIABILITIES:  
Accounts payable802,780937,717
Accrued expenses and other current liabilities496,202533,271
Current portion of operating lease liabilities51,21544,197
Current portion of long-term debt112,70811,203
Current portion of non-recourse notes payable474,147521,069
TOTAL CURRENT LIABILITIES 1,937,0522,047,457
Long-term debt, excluding current portion1,903,2233,255,304
Non-recourse notes payable, excluding current portion15,737,45914,919,715
Operating lease liabilities, excluding current portion509,106523,269
Other liabilities364,528357,080
TOTAL LIABILITIES 20,451,36821,102,825
Commitments and contingent liabilities
SHAREHOLDERS’ EQUITY:  
Common stock, $0.50 par value; 350,000,000 shares authorized; 158,019,398 and 161,053,983 shares issued and outstanding as of November 30, 2022 and February 28, 2022, respectively79,01080,527
Capital in excess of par value1,697,0621,677,268
Accumulated other comprehensive income (loss)57,420(46,422)
Retained earnings3,654,0813,524,066
TOTAL SHAREHOLDERS’ EQUITY 5,487,5735,235,439
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 25,938,941$ 26,338,264