CarMax

Automotive Financial Services Retail auto loans finance provider insurance repairs used cars

CarMax operates as a retailer of used vehicles. The Company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic and imported vehicles, sells vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions, and provides extended protection plans to customers at the time of sale. The Company also offers reconditioning and vehicle repair services, and provides financing alternatives for retail customers across a range of credit spectrum. In addition, it sells new vehicles under franchise agreements.

Revenue(FY, 2018)

$17.1 B

Market capitalization(2018-07-11)

$13.4 B

Stores(FY, 2017)

173

Type

Public

Richmond, US

Founded

1993

Size (employees)

243,444 (est)+901%

Website

carmax.com

CarMax was founded in 1993 and is headquartered in Richmond, US

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Key People/Management at CarMax

Bill Nash

President and Chief Executive Officer

Cliff Wood

EVP, Chief Operating Officer

Tom Reedy

EVP, Chief Financial Officer

Eric Margolin

EVP, General Counsel and Corporate Secretary

Ed Hill

EVP, Strategy and Business Transformation

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CarMax Office Locations

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CarMax has offices in Plano, Greenville, Sterling, Augusta and in 122 other locations

Richmond, US (HQ)

12800 Tuckahoe Creek Parkway

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CarMax Financials and Metrics

CarMax Revenue

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CarMax's revenue was reported to be $17.12 b in FY, 2018

Summary

USD
Revenue (Q1, 2019)	4.8 b
Gross profit (Q1, 2019)	661.3 m
Gross profit margin (Q1, 2019), %	13.8%
Net income (Q1, 2019)	238.7 m
Market capitalization (11-Jul-2018)	13.4 b
Closing share price (11-Jul-2018)	75.7
Cash (31-May-2018)	76.3 m

CarMax's current market capitalization is $13.4 b.

Source: SEC Filings

Income Statement

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017	FY, 2018
Revenue	12.6 b	14.3 b	15.1 b	15.9 b	17.1 b
Revenue growth, %		13%	6%	5%
Cost of goods sold	10.9 b	12.4 b	13.1 b	13.7 b	14.8 b
Gross profit	1.6 b	1.9 b	2 b	2.2 b	2.3 b

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018	Q1, 2019
Revenue	3.2 b	2.9 b	3.8 b	3.6 b	3.4 b	4 b	3.9 b	3.5 b	4.1 b	4 b	3.7 b	4.5 b	4.4 b	4.8 b
Cost of goods sold	2.8 b	2.6 b	3.2 b	3.1 b	3 b	3.5 b	3.4 b	3.1 b	3.6 b	3.5 b	3.2 b	3.9 b	3.8 b	4.1 b
Gross profit	434.7 m	381.7 m	501.7 m	463.3 m	446.6 m	543.8 m	521.4 m	464.3 m	572.6 m	545.4 m	503.1 m	648.9 m	604 m	661.3 m
Gross profit Margin, %	13%	13%	13%	13%	13%	14%	13%	13%	14%	14%	14%	14%	14%	14%

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Source: SEC Filings

Balance Sheet

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017	FY, 2018
Cash	627.9 m	27.6 m	37.4 m	38.4 m	44.5 m
Accounts Receivable	79.9 m	137.7 m	132.2 m	152.4 m	133.3 m
Inventories	1.6 b	2.1 b	1.9 b	2.3 b	2.4 b
Current Assets	2.6 b	2.6 b	2.5 b	2.9 b	3.1 b

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018	Q1, 2019
Cash	750 m	664.8 m	532.2 m	354.6 m	189.9 m	351.7 m	100.5 m	33.3 m	52.6 m	316 m	23.7 m	60.1 m	25.8 m	76.3 m
Accounts Receivable	85.5 m	68 m	97.8 m	108.9 m	88.2 m	103.7 m	100.8 m	88.5 m	102.5 m	94.6 m	92 m	104.7 m	99.7 m	101.4 m
Inventories	1.4 b	1.6 b	1.7 b	1.7 b	2 b	1.8 b	1.9 b	2.2 b	1.9 b	1.9 b	2.2 b	2.1 b	2.2 b	2.3 b
Current Assets	2.5 b	2.6 b	2.6 b	2.5 b	2.6 b	2.7 b	2.5 b	2.6 b	2.4 b	2.8 b	2.7 b	2.7 b	2.8 b	3 b

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Cash Flow

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017	FY, 2018
Net Income	99.2 m	597.4 m	623.4 m	627 m	664.1 m
Depreciation and Amortization				168.9 m	179.9 m
Inventories		(445.5 m)	154.8 m	(328.5 m)	(130.1 m)
Cash From Operating Activities		(968.1 m)	(148.9 m)	(468.1 m)	(80.6 m)

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018	Q1, 2019
Net Income	286.9 m	393.4 m	169.7 m	324.2 m	454.2 m	182 m	354.2 m	482.4 m	175.4 m	337.7 m	474.4 m	211.7 m	393.1 m	238.7 m
Depreciation and Amortization	49.2 m	74 m	27.3 m	55.8 m	85 m	32.1 m	65.2 m	100.5 m	40.8 m	83 m	125.7 m	43.9 m	88.1 m	45.3 m
Inventories	153.8 m	(38.5 m)	(40.4 m)	(67.5 m)	(323.2 m)	242.8 m	175.3 m	(66.4 m)	67 m	13.2 m	(238.1 m)	112.3 m	28.8 m	130.7 m
Cash From Operating Activities	(263.6 m)	(493.1 m)	(209.1 m)	(436.6 m)	(784.6 m)	117.6 m	(84.7 m)	(381.6 m)	85.4 m	(39.8 m)	(343.1 m)	191.5 m	81.1 m	230.8 m

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Ratios

USD	Y, 2018
Financial Leverage	5.2 x

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CarMax Operating Metrics

CarMax's Stores was reported to be 173 in FY, 2017.

	FY, 2014	FY, 2015	Q1, 2016	Q2, 2016	Q3, 2016	FY, 2016	Q1, 2017	Q2, 2017	Q3, 2017	FY, 2017	Q1, 2018
Stores	131	144				158				173
Used Vehicles Sold	526.93 k	582.28 k	164.51 k	156.52 k	143.67 k	619.94 k	171.08 k	167.41 k	156.79 k	671.29 k	195.27 k
Wholesale Vehicles Sold	342.58 k	376.19 k	101.63 k	106.52 k	94.07 k	394.44 k	103.46 k	105.11 k	91.97 k	391.69 k	103.44 k