CarMax, Inc. – Company Information

carmax logo
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)
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”