CarMax Income Statement

Financials in millions USD. Fiscal year is March - February.

Millions USD. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021
Operating Revenue	25,938	26,353	26,536	29,685	31,900	18,950
Other Revenue	1,896	1,854	1,677	1,442	1,297	1,142
Revenue	27,834	28,207	28,213	31,126	33,197	20,092
Revenue Growth (YoY)	0.14%	-0.02%	-9.36%	-6.24%	65.22%	-6.22%
Cost of Revenue	23,069	23,456	23,823	26,885	28,613	16,571
Gross Profit	3,448	3,480	3,281	3,464	4,089	2,942
Selling, General & Admin	2,453	2,435	2,354	2,487	2,325	1,704
Operating Expenses	2,720	2,691	2,593	2,716	2,537	1,899
Operating Income	727.96	788.93	688.87	747.8	1,552	1,043
Interest Expense	-105.78	-107.94	-124.75	-120.4	-94.1	-86.18
Other Non Operating Income (Expenses)	2.65	0.68	10.27	9.4	34.57	8.28
EBT Excluding Unusual Items	624.82	681.66	574.4	636.8	1,492	965.26
Asset Writedown	-12.3	-12.3	-	-	-	-
Legal Settlements	-	-	67.2	-	-	-
Pretax Income	612.52	669.36	641.6	636.8	1,492	965.26
Income Tax Expense	154.68	168.8	162.39	152.04	341.05	218.34
Net Income	457.84	500.56	479.2	484.76	1,151	746.92
Net Income to Common	457.84	500.56	479.2	484.76	1,151	746.92
Net Income Growth	-0.68%	4.46%	-1.15%	-57.89%	54.14%	-15.93%
Shares Outstanding (Basic)	150	155	158	159	162	163
Shares Outstanding (Diluted)	151	156	159	160	165	165
Shares Change (YoY)	-3.96%	-1.67%	-0.67%	-3.27%	0.03%	-1.01%
EPS (Basic)	3.05	3.22	3.03	3.05	7.09	4.58
EPS (Diluted)	3.04	3.21	3.02	3.03	6.97	4.52
EPS Growth	3.67%	6.29%	-0.33%	-56.53%	54.20%	-15.20%
Free Cash Flow	1,949	156.5	-6.69	860.62	-2,858	503.22
Free Cash Flow Per Share	12.93	1.00	-0.04	5.39	-17.30	3.05
Gross Margin	12.39%	12.34%	11.63%	11.13%	12.32%	14.64%
Operating Margin	2.61%	2.80%	2.44%	2.40%	4.67%	5.19%
Profit Margin	1.65%	1.77%	1.70%	1.56%	3.47%	3.72%
Free Cash Flow Margin	7.00%	0.56%	-0.02%	2.77%	-8.61%	2.50%
EBITDA	1,058	1,084	949.29	1,013	1,825	1,285
EBITDA Margin	3.80%	3.84%	3.36%	3.26%	5.50%	6.40%
D&A For EBITDA	329.67	294.8	260.41	265.22	273.19	242.16
EBIT	727.96	788.93	688.87	747.8	1,552	1,043
EBIT Margin	2.61%	2.80%	2.44%	2.40%	4.67%	5.19%
Effective Tax Rate	25.25%	25.22%	25.31%	23.88%	22.85%	22.62%
Advertising Expenses	-	261.9	265.6	295.6	332.2	218.6

Updated Dec 18, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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