Stocktoria

CARMAX INC KMX

NYSE · stock · Retail-Auto Dealers & Gasoline Stations · website · IPO 1997-02-07 · LEI

CARMAX INC statistics & valuation

P / E30.3×
P / S0.3×
P / B1.3×
P / FCF6.0×
Net margin1.0%
FCF margin4.8%
Net debt$17.1B
Enterprise value USD$24.6B
Graham number -33.9%$38.83

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($38.83); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
3.90% 3.90% 4.60% 4.40% 3.90% 3.60% 1.60% 1.80% 1.90% 1.00% 2017201820192020202120222023202420252026
Gross margin (%)
13.80% 13.60% 13.60% 13.40% 12.60% 10.30% 9.40% 10.20% 11.00% 10.80% 2017201820192020202120222023202420252026
Operating margin (%)
2017201820192020202120222023202420252026
Return on equity (%)
20.20% 20.00% 25.10% 23.60% 17.10% 22.00% 8.60% 7.90% 8.00% 4.20% 2017201820192020202120222023202420252026
Shares outstanding
192.2M 184.5M 175.9M 166.8M 165.1M 165.2M 159.8M 158.7M 156.1M 147.6M 2017201820192020202120222023202420252026
Net debt ($)
$13.73B $14.89B $14.49B $18.07B $17.46B $17.39B $17.89B $17.14B 2017201820192020202120222023202420252026
Share buybacks ($)
2017201820192020202120222023202420252026
Return on assets (%)
3.90% 3.80% 4.50% 4.20% 3.50% 4.40% 1.90% 1.80% 1.80% 0.90% 2017201820192020202120222023202420252026
Free cash flow margin (%)
-5.50% -2.20% -0.80% -2.80% 2.70% -9.00% 2.90% 0.00% 0.60% 4.80% 2017201820192020202120222023202420252026
Debt / equity (×)
4.10× 3.97× 3.35× 3.47× 3.17× 2.96× 2.91× 2.93× 2017201820192020202120222023202420252026
EPS ($)
$3.26 $3.60 $4.79 $5.33 $4.52 $6.97 $3.03 $3.02 $3.21 $1.68 2017201820192020202120222023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

CARMAX INC trades at about 34.9× earnings — above its 10-year norm (10-year range 10.1×–29.3×, median 21.2×).

10.1× 34.9×

Shaded band = 10-year range (10.1×–29.3×); dot = today's 34.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Gross margin10.8%11.0%10.2%9.4%10.3%12.6%13.4%13.6%13.6%13.8%
Net margin1.0%1.9%1.8%1.6%3.6%3.9%4.4%4.6%3.9%3.9%
FCF margin4.8%0.6%-0.0%2.9%-9.0%2.7%-2.8%-0.8%-2.2%-5.5%
Return on assets0.9%1.8%1.8%1.9%4.4%3.5%4.2%4.5%3.8%3.9%
Return on equity4.2%8.0%7.9%8.6%22.0%17.1%23.6%25.1%20.0%20.2%
Debt / equity2.93×2.91×2.96×3.17×3.47×3.35×3.97×4.10×
Current ratio2.202.312.262.603.202.422.392.452.612.60

Computed from company filings · US · as of 2026-02-28. Facts plus Stocktoria's own computed scores — not investment advice.