Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of CarMax.
Income Statement
| Breakdown | February 29, 2024 | February 28, 2023 | February 28, 2022 | February 28, 2021 | February 29, 2020 | February 28, 2019 | February 28, 2018 | February 28, 2017 | February 29, 2016 | February 28, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $26.54B | $29.68B | $31.90B | $18.95B | $20.32B | $18.17B | $17.12B | $15.88B | $15.15B | $14.27B |
| Cost of Revenue | $23.82B | $26.88B | $28.61B | $16.57B | $17.60B | $15.69B | $14.79B | $13.69B | $13.13B | $12.38B |
| Gross Profit | $2.71B | $2.80B | $3.29B | $2.38B | $2.72B | $2.48B | $2.33B | $2.18B | $2.02B | $1.89B |
| Gross Profit Ratio | 10.22% | 9.40% | 10.31% | 12.60% | 13.40% | 13.65% | 13.60% | 13.75% | 13.33% | 13.23% |
| Research and Development Expenses | $- | $13.22M | $5.67M | $- | $- | $- | $- | $- | $- | $- |
| General and Administrative Expenses | $2.02B | $2.20B | $2.00B | $1.73B | $1.75B | $1.56B | $1.46B | $1.34B | $1.21B | $1.13B |
| Selling and Marketing Expenses | $264.40M | $288.50M | $325.90M | $217.50M | $191.30M | $166.40M | $157.70M | $144.20M | $140.60M | $122.80M |
| Selling General and Administrative Expenses | $2.29B | $2.49B | $2.33B | $1.90B | $1.94B | $1.73B | $1.62B | $1.49B | $1.35B | $1.26B |
| Other Expenses | $- | $545.45M | $353.66M | $8.28M | $5.69M | $-408.00K | $1.36M | $-953.00K | $-12.56M | $-3.29M |
| Operating Expenses | $2.29B | $3.03B | $2.68B | $1.90B | $1.94B | $1.73B | $1.62B | $1.49B | $1.35B | $1.26B |
| Cost and Expenses | $26.11B | $29.92B | $31.29B | $18.47B | $19.54B | $17.42B | $16.41B | $15.18B | $14.48B | $13.64B |
| Interest Income | $1.68B | $1.44B | $1.30B | $562.81M | $456.03M | $438.69M | $421.18M | $368.98M | $392.04M | $367.29M |
| Interest Expense | $840.35M | $430.70M | $322.89M | $86.18M | $83.01M | $75.79M | $70.75M | $56.42M | $36.36M | $24.47M |
| Depreciation and Amortization | $276.80M | $265.22M | $273.19M | $242.16M | $215.81M | $182.25M | $179.94M | $168.88M | $137.36M | $115.17M |
| EBITDA | $1.04B | $1.02B | $1.83B | $1.29B | $1.45B | $1.37B | $1.31B | $1.23B | $1.18B | $1.11B |
| EBITDA Ratio | 3.93% | 4.49% | 6.55% | 6.83% | 7.18% | 7.54% | 7.68% | 7.76% | 7.81% | 7.77% |
| Operating Income | $942.20M | $1.07B | $1.82B | $1.05B | $1.24B | $1.19B | $1.13B | $1.06B | $1.05B | $993.80M |
| Operating Income Ratio | 3.55% | 3.60% | 5.69% | 5.55% | 6.12% | 6.54% | 6.63% | 6.69% | 6.91% | 6.96% |
| Total Other Income Expenses Net | $-300.61M | $-326.22M | $-271.48M | $-272.26M | $-267.22M | $-76.15M | $-69.33M | $311.62M | $-48.92M | $339.53M |
| Income Before Tax | $641.60M | $636.80M | $1.49B | $965.26M | $1.16B | $1.11B | $1.06B | $1.01B | $1.01B | $969.33M |
| Income Before Tax Ratio | 2.42% | 2.15% | 4.68% | 5.09% | 5.71% | 6.12% | 6.21% | 6.34% | 6.67% | 6.79% |
| Income Tax Expense | $162.39M | $152.04M | $341.05M | $218.34M | $272.55M | $270.39M | $399.50M | $379.44M | $386.52M | $371.97M |
| Net Income | $479.20M | $484.76M | $1.15B | $746.92M | $888.43M | $842.41M | $664.11M | $626.97M | $623.43M | $597.36M |
| Net Income Ratio | 1.81% | 1.63% | 3.61% | 3.94% | 4.37% | 4.64% | 3.88% | 3.95% | 4.12% | 4.19% |
| EPS | $3.03 | $3.05 | $7.09 | $4.58 | $5.39 | $4.83 | $3.60 | $3.29 | $3.07 | $2.77 |
| EPS Diluted | $3.02 | $3.03 | $6.97 | $4.52 | $5.33 | $4.79 | $3.60 | $3.26 | $3.03 | $2.73 |
| Weighted Average Shares Outstanding | 158.22M | 158.80M | 162.41M | 163.18M | 164.84M | 174.46M | 182.66M | 190.34M | 203.28M | 215.62M |
| Weighted Average Shares Outstanding Diluted | 158.71M | 159.77M | 165.18M | 165.13M | 166.82M | 175.88M | 184.47M | 192.22M | 205.54M | 218.69M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | February 29, 2024 | February 28, 2023 | February 28, 2022 | February 28, 2021 | February 29, 2020 | February 28, 2019 | February 28, 2018 | February 28, 2017 | February 29, 2016 | February 28, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $574.14M | $314.76M | $102.72M | $132.32M | $58.21M | $46.94M | $44.52M | $38.42M | $37.39M | $27.61M |
| Short Term Investments | $17.13B | $- | $- | $- | $- | $- | $- | $- | $587.00K | $1.20M |
| Cash and Short Term Investments | $574.14M | $314.76M | $102.72M | $132.32M | $58.21M | $46.94M | $44.52M | $38.42M | $37.39M | $27.61M |
| Net Receivables | $221.15M | $298.78M | $560.98M | $239.07M | $191.09M | $139.85M | $133.32M | $152.39M | $132.17M | $137.69M |
| Inventory | $3.68B | $3.73B | $5.12B | $3.16B | $2.85B | $2.52B | $2.39B | $2.26B | $1.93B | $2.09B |
| Other Current Assets | $753.23M | $701.68M | $761.02M | $588.25M | $567.97M | $507.77M | $492.90M | $422.26M | $26.36M | $346.87M |
| Total Current Assets | $5.23B | $5.04B | $6.55B | $4.12B | $3.66B | $3.21B | $3.06B | $2.87B | $2.47B | $2.60B |
| Property Plant Equipment Net | $4.19B | $3.98B | $3.75B | $3.49B | $3.52B | $2.83B | $2.67B | $2.52B | $2.16B | $1.86B |
| Goodwill | $141.26M | $141.26M | $141.26M | $653.00K | $- | $- | $- | $- | $- | $- |
| Intangible Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $141.26M | $141.26M | $141.26M | $653.00K | $-13.78B | $-12.57B | $-11.67B | $-10.72B | $-9.65B | $- |
| Long Term Investments | $137.30M | $16.59B | $15.50B | $13.74B | $13.78B | $12.57B | $11.67B | $10.72B | $9.65B | $- |
| Tax Assets | $- | $80.74M | $120.93M | $164.26M | $89.84M | $61.35M | $63.26M | $150.96M | $161.86M | $167.64M |
| Other Non-Current Assets | $17.51B | $354.09M | $276.36M | $32.70M | $13.81B | $12.61B | $11.69B | $10.74B | $9.69B | $8.57B |
| Total Non-Current Assets | $21.97B | $21.14B | $19.79B | $17.42B | $17.42B | $15.50B | $14.42B | $13.41B | $12.01B | $10.60B |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $27.20B | $26.18B | $26.34B | $21.54B | $21.08B | $18.72B | $17.49B | $16.28B | $14.48B | $13.20B |
| Account Payables | $933.71M | $826.59M | $937.72M | $799.33M | $737.14M | $593.17M | $529.73M | $494.99M | $441.75M | $454.81M |
| Short Term Debt | $854.61M | $632.75M | $576.47M | $30.95M | $464.44M | $398.34M | $375.55M | $9.49M | $14.33M | $312.06M |
| Tax Payables | $- | $- | $- | $218.00K | $1.39M | $3.78M | $- | $1.40M | $2.03M | $1.55M |
| Deferred Revenue | $- | $80.74M | $- | $- | $- | $3.78M | $- | $1.40M | $2.03M | $1.55M |
| Other Current Liabilities | $523.97M | $478.96M | $533.27M | $868.04M | $331.74M | $316.21M | $268.78M | $599.90M | $547.09M | $228.75M |
| Total Current Liabilities | $2.31B | $1.94B | $2.05B | $1.70B | $1.53B | $1.31B | $1.17B | $1.11B | $1.01B | $997.17M |
| Long Term Debt | $18.46B | $18.30B | $18.70B | $15.16B | $15.46B | $14.32B | $12.75B | $11.83B | $10.32B | $8.82B |
| Deferred Revenue Non-Current | $- | $-366.89M | $-333.75M | $-217.94M | $-220.04M | $-101.26M | $-83.52M | $-84.88M | $-60.99M | $- |
| Deferred Tax Liabilities Non-Current | $- | $366.89M | $333.75M | $217.94M | $220.04M | $101.26M | $83.52M | $84.88M | $60.99M | $- |
| Other Non-Current Liabilities | $354.90M | $332.38M | $357.08M | $314.75M | $314.55M | $-272.24M | $242.55M | $238.55M | $250.94M | $225.49M |
| Total Non-Current Liabilities | $18.81B | $18.63B | $19.06B | $15.48B | $15.78B | $14.05B | $13.00B | $12.06B | $10.57B | $9.04B |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $21.12B | $20.57B | $21.10B | $17.18B | $17.31B | $15.36B | $14.17B | $13.17B | $11.58B | $10.04B |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $78.81M | $79.04M | $80.53M | $81.59M | $81.54M | $83.74M | $89.87M | $93.27M | $97.36M | $104.44M |
| Retained Earnings | $4.13B | $3.72B | $3.52B | $2.89B | $2.49B | $2.10B | $2.05B | $1.88B | $1.75B | $1.99B |
| Accumulated Other Comprehensive Income Loss | $59.28M | $97.87M | $-46.42M | $-118.69M | $-150.07M | $-68.01M | $-54.31M | $-56.55M | $-70.20M | $-65.39M |
| Other Total Stockholders Equity | $1.81B | $1.71B | $1.68B | $1.51B | $1.35B | $1.24B | $1.23B | $1.19B | $1.13B | $1.12B |
| Total Stockholders Equity | $6.07B | $5.61B | $5.24B | $4.36B | $3.77B | $3.36B | $3.32B | $3.11B | $2.90B | $3.16B |
| Total Equity | $6.07B | $5.61B | $5.24B | $4.36B | $3.77B | $3.36B | $3.32B | $3.11B | $2.90B | $3.16B |
| Total Liabilities and Stockholders Equity | $27.20B | $26.18B | $26.34B | $21.54B | $21.08B | $18.72B | $17.49B | $16.28B | $14.48B | $13.20B |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $27.20B | $26.18B | $26.34B | $21.54B | $21.08B | $18.72B | $17.49B | $16.28B | $14.48B | $13.20B |
| Total Investments | $17.27B | $16.59B | $15.50B | $13.74B | $13.78B | $12.57B | $11.67B | $10.72B | $9.65B | $1.20M |
| Total Debt | $19.53B | $18.93B | $19.27B | $15.53B | $15.85B | $14.20B | $13.12B | $12.17B | $10.66B | $9.11B |
| Net Debt | $18.74B | $18.62B | $19.17B | $15.39B | $15.79B | $14.16B | $13.07B | $12.13B | $10.62B | $9.08B |
Cash Flow Statement
| Breakdown | February 29, 2024 | February 28, 2023 | February 28, 2022 | February 28, 2021 | February 29, 2020 | February 28, 2019 | February 28, 2018 | February 28, 2017 | February 29, 2016 | February 28, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $479.20M | $484.76M | $1.15B | $746.92M | $888.43M | $842.41M | $664.11M | $626.97M | $623.43M | $597.36M |
| Depreciation and Amortization | $260.41M | $265.22M | $273.19M | $242.16M | $215.81M | $182.25M | $179.94M | $168.88M | $137.36M | $115.17M |
| Deferred Income Tax | $-4.80M | $-6.55M | $15.00M | $-35.79M | $-1.10M | $2.30M | $81.01M | $2.32M | $17.24M | $-4.30M |
| Stock Based Compensation | $119.72M | $85.59M | $109.20M | $121.90M | $108.86M | $75.01M | $61.88M | $91.59M | $51.08M | $81.88M |
| Change in Working Capital | $-796.00M | $34.38M | $-4.34B | $-638.96M | $-1.73B | $-1.16B | $-1.27B | $-1.58B | $-1.17B | $-1.92B |
| Accounts Receivables | $77.63M | $262.20M | $-288.19M | $-43.51M | $-51.24M | $-6.53M | $19.07M | $-20.22M | $5.52M | $-57.77M |
| Inventory | $48.07M | $1.40B | $-1.97B | $-323.32M | $-326.96M | $-128.76M | $-130.13M | $-328.53M | $154.84M | $-445.45M |
| Accounts Payables | $- | $-197.69M | $175.11M | $106.79M | $85.44M | $86.36M | $38.29M | $61.75M | $-55.19M | $51.96M |
| Other Working Capital | $-921.70M | $-1.43B | $-2.26B | $-378.92M | $-1.43B | $-1.11B | $-1.20B | $-1.29B | $-1.27B | $-1.46B |
| Other Non Cash Items | $400.08M | $419.92M | $237.48M | $231.53M | $278.47M | $220.61M | $201.64M | $218.89M | $191.45M | $157.18M |
| Net Cash Provided by Operating Activities | $458.62M | $1.28B | $-2.55B | $667.76M | $-236.61M | $162.97M | $-80.55M | $-468.14M | $-148.89M | $-968.13M |
| Investments in Property Plant and Equipment | $-465.31M | $-422.71M | $-308.53M | $-164.54M | $-331.90M | $-304.64M | $-296.82M | $-418.14M | $-315.58M | $-309.82M |
| Acquisitions Net | $- | $5.19M | $-229.26M | $29.91M | $331.90M | $304.64M | $97.00K | $1.23M | $1.54M | $- |
| Purchases of Investments | $-6.19M | $-12.53M | $-24.61M | $-3.73M | $-59.05M | $-6.15M | $-8.65M | $-6.72M | $-11.46M | $-12.42M |
| Sales Maturities of Investments | $3.15M | $4.28M | $38.41M | $8.32M | $1.58M | $1.58M | $1.69M | $730.00K | $324.00K | $655.00K |
| Other Investing Activities | $1.35M | $-3.06M | $260.00K | $1.85M | $-331.89M | $-303.94M | $-23.11M | $-41.44M | $-52.07M | $-39.16M |
| Net Cash Used for Investing Activities | $-467.00M | $-425.77M | $-523.75M | $-128.18M | $-389.36M | $-308.51M | $-326.79M | $-465.57M | $-378.80M | $-360.74M |
| Debt Repayment | $378.74M | $-393.34M | $3.62B | $-337.23M | $1.15B | $1.05B | $935.76M | $1.44B | $1.45B | $1.51B |
| Common Stock Issued | $44.77M | $17.09M | $79.81M | $143.15M | $124.40M | $58.13M | $73.52M | $59.87M | $47.04M | $82.46M |
| Common Stock Repurchased | $-94.09M | $-333.93M | $-576.48M | $-229.94M | $-567.75M | $-904.73M | $-579.57M | $-564.34M | $-983.94M | $-916.98M |
| Dividends Paid | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Financing Activities | $-21.63M | $- | $-20.13M | $- | $-20.10M | $-17.06M | $-16.26M | $-4.29M | $29.03M | $48.95M |
| Net Cash Used Provided by Financing Activities | $307.79M | $-710.18M | $3.10B | $-424.02M | $686.98M | $186.02M | $413.45M | $934.73M | $537.48M | $728.58M |
| Effect of Forex Changes on Cash | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Net Change in Cash | $299.41M | $147.39M | $31.67M | $115.56M | $61.01M | $40.48M | $6.11M | $1.02M | $9.79M | $-600.29M |
| Cash at End of Period | $1.25B | $951.00M | $803.62M | $771.95M | $656.39M | $595.38M | $44.52M | $38.42M | $37.39M | $27.61M |
| Cash at Beginning of Period | $951.00M | $803.62M | $771.95M | $656.39M | $595.38M | $554.90M | $38.42M | $37.39M | $27.61M | $627.90M |
| Operating Cash Flow | $458.62M | $1.28B | $-2.55B | $667.76M | $-236.61M | $162.97M | $-80.55M | $-468.14M | $-148.89M | $-968.13M |
| Capital Expenditure | $-465.31M | $-422.71M | $-308.53M | $-164.54M | $-331.90M | $-304.64M | $-296.82M | $-418.14M | $-315.58M | $-309.82M |
| Free Cash Flow | $-6.69M | $860.62M | $-2.86B | $503.22M | $-568.50M | $-141.66M | $-377.37M | $-886.28M | $-464.48M | $-1.28B |