 |
|
| Company | CarMax, Inc. |
| Headquarters | 12800 Tuckahoe Creek Parkway, Richmond, Virginia 23238, USA |
| CEO and President | Thomas J. Folliard |
| CFO | Thomas W. Reedy |
| Industry | Automotive |
| Founded | 1993 |
| Type | Public |
| NYSE stock symbol | KMX |
| Revenue | $14.268 billion (2015) |
| Net income | $597.358 million (2015) |
| Earnings per share | $2.73 USD (2015) |
| Employees | 22,064 (2015) |
| Website | http://www.carmax.com |
| Investor relations contact number: | 804-747-0422 |
CarMax, Inc., is a US retailer of used vehicles based in Richmond, Virginia.
It is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘KMX’.
The company has approximately 131 used car superstores in 64 markets.
It has two reportable segments: CarMax Sales Operations (auto merchandising and service operations) and CarMax Auto Finance “CAF” (provides vehicle financing).
CarMax retailed 526,929 used vehicles during the fiscal year ended February 28, 2014. It is also the nation’s largest wholesale vehicle auction operator, with a total of 342,576 wholesale vehicles sold through on-site auctions in fiscal 2014.
Other products and services that it offers include: the appraisal and purchase of vehicles directly from consumers; vehicle repair services, and sale of extended service plans and guaranteed asset protection services.
An average CarMax store is around 59,000 square feet (5,500 m2), with an inventory of 400 vehicles.
The company began operating in 1993 with the first CarMax superstore opening in Richmond, Virginia, under the ownership of Circuit City Stores, Inc. (“Circuit City”).
CarMax split off from Circuit City and was incorporated under the laws of the Commonwealth of Virginia in 1996.
| Income data (in $ thousands) | 2015* | 2014* |
| Used vehicle sales | $11,674,520 | $10,306,256 |
| New vehicle sales | $240,004 | $212,036 |
| Wholesale vehicle sales | $2,049,133 | $1,823,425 |
| Other sales and revenues | $305,059 | $232,582 |
| Net sales and operating revenues | $14,268,716 | $12,574,299 |
| Cost of sales | $12,381,189 | $10,925,598 |
| Earnings before income taxes | $969,331 | $797,322 |
| Net earnings | $597,358 | $492,586 |
| Total comprehensive income | $578,238 | $506,123 |
| Balance sheet data (in $ thousands) | ||
| Total assets | $13,198,201 | $11,707,157 |
| Total liabilities | $10,041,416 | $8,390,160 |
| Total stockholders’ equity | $3,156,785 | $3,019,167 |
| Common share data (in $) | ||
| Earnings per Common Share – Basic | $2.70 | $2.20 |
| Earnings per Common Share – Diluted | $2.73 | $2.16 |
| Cash flow data (in $ thousands) | ||
| Net cash used in operating activities | $(968,130) | $(613,163) |
| Net cash used in investing activities | $(360,744) | $(336,681) |
| Net cash provided by financing activities | $728,579 | $1,128,381 |
| Cash and cash equivalents at beginning of year | $627,901 | $449,364 |
| Cash and cash equivalents at end of year | $27,606 | $627,901 |
*Year ended February 28
Source: “CarMax, Inc. Form 10-K 2015”