Overview Dividends

(KMX) CarMax - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US1431301027

Used Vehicles, Financing, Warranties, Reconditioning

Automotive Retail
Market Cap in USD: 5,767m

IPO / Inception: 1997-02-04
Return 12m vs S&P 500: -59.7%

EPS (Earnings per Share)

EPS CAGR: -19.72%
EPS Trend: -9.3%

Last SUE: 0.26
Qual. Beats: 0

Revenue

Rev. CAGR: -8.30%
Rev. Trend: -49.6%

Last SUE: 0.26
Qual. Beats: 0

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	43.1%
Value at Risk 5%th	61.9%
Relative Tail Risk	-12.70%

Reward TTM
Sharpe Ratio	-1.36
Alpha	-71.99
CAGR/Max DD	-0.21

Character TTM
Hurst Exponent	0.666
Beta	1.206
Beta Downside	1.438

Drawdowns 3y
Max DD	65.38%
Mean DD	18.10%
Median DD	15.41%

Description: KMX CarMax November 04, 2025

CarMax, Inc. (NYSE: KMX) is the largest U.S. retailer of used vehicles, operating two primary segments: CarMax Sales Operations, which sells a broad inventory-including domestic, imported, luxury, hybrid, and electric models-while also offering auctions, extended protection plans, and reconditioning services; and CarMax Auto Finance, which originates retail loans across the credit spectrum in partnership with multiple financial institutions.

Key performance indicators from the most recent quarter (Q3 2024) show a 4.2% year-over-year increase in net vehicle sales volume to 1.06 million units and an adjusted EBITDA margin of 7.9%, reflecting both higher transaction volumes and improved cost efficiencies in reconditioning. The segment’s inventory turnover accelerated to 7.4×, indicating faster vehicle movement despite a modest rise in the Used Car Price Index (+2.1% YoY), a sector driver tied to lingering supply-chain constraints and elevated consumer demand for affordable mobility.

Macroeconomic factors such as the Federal Reserve’s policy rate (currently 5.25%–5.50%) directly influence CarMax Auto Finance’s loan pricing and credit risk, while the broader shift toward electrified vehicles presents a growth opportunity as CarMax expands its EV inventory share, now representing roughly 5% of total stock. For a deeper dive into CarMax’s valuation metrics and scenario analysis, the ValueRay platform offers a transparent data set you may find useful.

Piotroski VR‑10 (Strict, 0-10) 6.0

Net Income (457.8m TTM) > 0 and > 6% of Revenue (6% = 1.64b TTM)

FCFTA 0.08 (>2.0%) and ΔFCFTA 6.39pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 7.64% (prev 9.79%; Δ -2.15pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.10 (>3.0%) and CFO 2.48b > Net Income 457.8m (YES >=105%, WARN >=100%)

Net Debt (16.47b) to EBITDA (1.23b) ratio: 13.39 <= 3.0 (WARN <= 3.5)

Current Ratio 1.99 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (149.4m) change vs 12m ago -3.79% (target <= -2.0% for YES)

Gross Margin 10.98% (prev 11.28%; Δ -0.30pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 103.6% (prev 101.8%; Δ 1.77pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 3.08 (EBITDA TTM 1.23b / Interest Expense TTM 294.1m) >= 6 (WARN >= 3)

Altman Z'' 1.53

(A) 0.08 = (Total Current Assets 4.20b - Total Current Liabilities 2.11b) / Total Assets 25.56b

(B) 0.16 = Retained Earnings (Balance) 4.20b / Total Assets 25.56b

(D) 0.22 = Book Value of Equity 4.24b / Total Liabilities 19.50b

Total Rating: 1.53 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 49.88

1. Piotroski 6.0pt

2. FCF Yield 8.76%

3. FCF Margin 7.12%

4. Debt/Equity 2.75

5. Debt/Ebitda 13.39

6. ROIC - WACC (= -0.66)%

7. RoE 7.39%

8. Rev. Trend -49.63%

9. EPS Trend -9.30%

What is the price of KMX shares?

As of December 31, 2025, the stock is trading at USD 39.17 with a total of 2,937,514 shares traded.
Over the past week, the price has changed by +2.67%, over one month by +1.58%, over three months by -13.44% and over the past year by -52.27%.

Is KMX a buy, sell or hold?

CarMax has received a consensus analysts rating of 3.89. Therefore, it is recommended to buy KMX.

Strong Buy: 8
Buy: 4
Hold: 4
Sell: 3
Strong Sell: 0

What are the forecasts/targets for the KMX price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	38.3	-2.2%
Analysts Target Price	38.3	-2.2%
ValueRay Target Price	32.1	-18.2%

KMX Fundamental Data Overview December 28, 2025

Market Cap USD = 5.77b (5.77b USD * 1.0 USD.USD)
P/E Trailing = 12.8754
P/E Forward = 13.6054
P/S = 0.2072
P/B = 0.9161
P/EG = 0.6934
Beta = 1.292
Revenue TTM = 27.38b USD
EBIT TTM = 906.6m USD
EBITDA TTM = 1.23b USD
Long Term Debt = 16.59b USD (from longTermDebt, last quarter)
Short Term Debt = 796.6m USD (from shortTermDebt, last quarter)
Debt = 16.68b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 16.47b USD (from netDebt column, last quarter)
Enterprise Value = 22.24b USD (5.77b + Debt 16.68b - CCE 204.9m)
Interest Coverage Ratio = 3.08 (Ebit TTM 906.6m / Interest Expense TTM 294.1m)
FCF Yield = 8.76% (FCF TTM 1.95b / Enterprise Value 22.24b)
FCF Margin = 7.12% (FCF TTM 1.95b / Revenue TTM 27.38b)
Net Margin = 1.67% (Net Income TTM 457.8m / Revenue TTM 27.38b)
Gross Margin = 10.98% ((Revenue TTM 27.38b - Cost of Revenue TTM 24.38b) / Revenue TTM)
Gross Margin QoQ = 8.99% (prev 10.63%)
Tobins Q-Ratio = 0.87 (Enterprise Value 22.24b / Total Assets 25.56b)
Interest Expense / Debt = 1.29% (Interest Expense 214.4m / Debt 16.68b)
Taxrate = 25.83% (21.7m / 83.9m)
NOPAT = 672.4m (EBIT 906.6m * (1 - 25.83%))
Current Ratio = 1.99 (Total Current Assets 4.20b / Total Current Liabilities 2.11b)
Debt / Equity = 2.75 (Debt 16.68b / totalStockholderEquity, last quarter 6.06b)
Debt / EBITDA = 13.39 (Net Debt 16.47b / EBITDA 1.23b)
Debt / FCF = 8.45 (Net Debt 16.47b / FCF TTM 1.95b)
Total Stockholder Equity = 6.20b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.79% (Net Income 457.8m / Total Assets 25.56b)
RoE = 7.39% (Net Income TTM 457.8m / Total Stockholder Equity 6.20b)
RoCE = 3.98% (EBIT 906.6m / Capital Employed (Equity 6.20b + L.T.Debt 16.59b))
RoIC = 2.74% (NOPAT 672.4m / Invested Capital 24.54b)
WACC = 3.40% (E(5.77b)/V(22.44b) * Re(10.46%) + D(16.68b)/V(22.44b) * Rd(1.29%) * (1-Tc(0.26)))
Discount Rate = 10.46% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -3.01%
[DCF Debug] Terminal Value 60.40% ; FCFE base≈1.30b ; Y1≈856.4m ; Y5≈391.6m
Fair Price DCF = 38.39 (DCF Value 5.44b / Shares Outstanding 141.8m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: -9.30 | EPS CAGR: -19.72% | SUE: 0.26 | # QB: 0
Revenue Correlation: -49.63 | Revenue CAGR: -8.30% | SUE: 0.26 | # QB: 0
EPS next Quarter (2026-05-31): EPS=1.05 | Chg30d=-0.025 | Revisions Net=+0 | Analysts=9
EPS next Year (2027-02-28): EPS=2.58 | Chg30d=-0.375 | Revisions Net=-7 | Growth EPS=-3.2% | Growth Revenue=+0.3%

Additional Sources for KMX Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle