CarMax Inc (KMX) - Net Assets
Based on the latest financial reports, CarMax Inc (KMX) has net assets worth $6.06 Billion USD as of November 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($25.56 Billion) and total liabilities ($19.50 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check financial resilience of CarMax Inc to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $6.06 Billion |
| % of Total Assets | 23.72% |
| Annual Growth Rate | 10.39% |
| 5-Year Change | 43.04% |
| 10-Year Change | 114.92% |
| Growth Volatility | 9.84 |
CarMax Inc - Net Assets Trend (1997–2025)
This chart illustrates how CarMax Inc's net assets have evolved over time, based on quarterly financial data. Also explore CarMax Inc (KMX) total assets for the complete picture of this company's asset base.
Annual Net Assets for CarMax Inc (1997–2025)
The table below shows the annual net assets of CarMax Inc from 1997 to 2025. For live valuation and market cap data, see CarMax Inc market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-02-28 | $6.24 Billion | +2.79% |
| 2024-02-29 | $6.07 Billion | +8.21% |
| 2023-02-28 | $5.61 Billion | +7.21% |
| 2022-02-28 | $5.24 Billion | +19.95% |
| 2021-02-28 | $4.36 Billion | +15.81% |
| 2020-02-29 | $3.77 Billion | +12.27% |
| 2019-02-28 | $3.36 Billion | +1.21% |
| 2018-02-28 | $3.32 Billion | +6.70% |
| 2017-02-28 | $3.11 Billion | +7.02% |
| 2016-02-29 | $2.90 Billion | -7.98% |
| 2015-02-28 | $3.16 Billion | -4.83% |
| 2014-02-28 | $3.32 Billion | +9.86% |
| 2013-02-28 | $3.02 Billion | +12.95% |
| 2012-02-29 | $2.67 Billion | +16.65% |
| 2011-02-28 | $2.29 Billion | +18.52% |
| 2010-02-28 | $1.93 Billion | +21.37% |
| 2009-02-28 | $1.59 Billion | +6.99% |
| 2008-02-29 | $1.49 Billion | +19.36% |
| 2007-02-28 | $1.25 Billion | +27.27% |
| 2006-02-28 | $980.10 Million | +22.36% |
| 2005-02-28 | $800.98 Million | +17.66% |
| 2004-02-29 | $680.75 Million | +22.75% |
| 2003-02-28 | $554.57 Million | +14.23% |
| 2002-02-28 | $485.48 Million | +24.00% |
| 2001-02-28 | $391.50 Million | +13.48% |
| 2000-02-29 | $344.99 Million | +1.35% |
| 1999-02-28 | $340.40 Million | -5.42% |
| 1998-02-28 | $359.90 Million | -8.14% |
| 1997-02-28 | $391.80 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to CarMax Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 427223600000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (February 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $4.27 Billion | 68.43% |
| Common Stock | $76.66 Million | 1.23% |
| Other Comprehensive Income | $3.08 Million | 0.05% |
| Other Components | $1.89 Billion | 30.29% |
| Total Equity | $6.24 Billion | 100.00% |
CarMax Inc Competitors by Market Cap
The table below lists competitors of CarMax Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shandong Intco Medical Products Co Ltd
SHE:300677
|
$5.47 Billion |
|
Turkcell Iletisim Hizmetleri AS ORD
IS:TCELL
|
$5.47 Billion |
|
Clal Insurance Enterprises Holdings Ltd
TA:CLIS
|
$5.47 Billion |
|
Ningbo Shanshan Co Ltd
SHG:600884
|
$5.48 Billion |
|
Acushnet Holdings Corp
NYSE:GOLF
|
$5.46 Billion |
|
NEXANS ADR EO 1
F:NXS0
|
$5.46 Billion |
|
Floor & Decor Holdings Inc
NYSE:FND
|
$5.45 Billion |
|
Kite Realty Group Trust
NYSE:KRG
|
$5.45 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in CarMax Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 6,073,740,000 to 6,242,988,000, a change of 169,248,000 (2.8%).
- Net income of 500,556,000 contributed positively to equity growth.
- Share repurchases of 428,453,000 reduced equity.
- New share issuances of 73,741,000 increased equity.
- Other comprehensive income decreased equity by 56,199,000.
- Other factors increased equity by 79,603,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $500.56 Million | +8.02% |
| Share Repurchases | $428.45 Million | -6.86% |
| Share Issuances | $73.74 Million | +1.18% |
| Other Comprehensive Income | $-56.20 Million | -0.9% |
| Other Changes | $79.60 Million | +1.28% |
| Total Change | $- | 2.79% |
Book Value vs Market Value Analysis
This analysis compares CarMax Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.96x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 4.30x to 0.96x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1997-02-28 | $8.96 | $38.53 | x |
| 1998-02-28 | $8.10 | $38.53 | x |
| 1999-02-28 | $7.30 | $38.53 | x |
| 2000-02-29 | $6.69 | $38.53 | x |
| 2001-02-28 | $7.26 | $38.53 | x |
| 2002-02-28 | $2.33 | $38.53 | x |
| 2003-02-28 | $2.65 | $38.53 | x |
| 2004-02-29 | $3.22 | $38.53 | x |
| 2005-02-28 | $3.79 | $38.53 | x |
| 2006-02-28 | $4.60 | $38.53 | x |
| 2007-02-28 | $5.76 | $38.53 | x |
| 2008-02-29 | $6.75 | $38.53 | x |
| 2009-02-28 | $7.26 | $38.53 | x |
| 2010-02-28 | $8.70 | $38.53 | x |
| 2011-02-28 | $10.07 | $38.53 | x |
| 2012-02-29 | $11.59 | $38.53 | x |
| 2013-02-28 | $13.02 | $38.53 | x |
| 2014-02-28 | $14.57 | $38.53 | x |
| 2015-02-28 | $14.43 | $38.53 | x |
| 2016-02-29 | $14.13 | $38.53 | x |
| 2017-02-28 | $16.17 | $38.53 | x |
| 2018-02-28 | $17.98 | $38.53 | x |
| 2019-02-28 | $19.09 | $38.53 | x |
| 2020-02-29 | $22.59 | $38.53 | x |
| 2021-02-28 | $26.43 | $38.53 | x |
| 2022-02-28 | $31.70 | $38.53 | x |
| 2023-02-28 | $35.13 | $38.53 | x |
| 2024-02-29 | $38.27 | $38.53 | x |
| 2025-02-28 | $40.00 | $38.53 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently CarMax Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 8.02%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.77%
- • Asset Turnover: 1.03x
- • Equity Multiplier: 4.39x
- Recent ROE (8.02%) is below the historical average (12.96%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | -2.37% | -1.82% | 1.19x | 1.09x | $-48.48 Million |
| 1998 | -9.50% | -3.91% | 1.95x | 1.25x | $-70.19 Million |
| 1999 | -6.90% | -1.60% | 2.57x | 1.68x | $-57.54 Million |
| 2000 | 0.32% | 0.06% | 2.98x | 1.96x | $-33.38 Million |
| 2001 | 11.64% | 1.65% | 3.88x | 1.82x | $6.41 Million |
| 2002 | 18.70% | 2.57% | 4.91x | 1.48x | $42.25 Million |
| 2003 | 17.09% | 2.39% | 4.33x | 1.65x | $39.35 Million |
| 2004 | 17.11% | 2.53% | 4.43x | 1.52x | $48.37 Million |
| 2005 | 14.10% | 2.15% | 4.07x | 1.61x | $32.83 Million |
| 2006 | 15.11% | 2.37% | 4.15x | 1.54x | $50.04 Million |
| 2007 | 15.92% | 2.60% | 4.04x | 1.51x | $73.86 Million |
| 2008 | 12.23% | 2.19% | 3.57x | 1.57x | $33.13 Million |
| 2009 | 3.72% | 0.85% | 2.93x | 1.49x | $-100.09 Million |
| 2010 | 14.57% | 3.77% | 2.92x | 1.32x | $88.31 Million |
| 2011 | 16.62% | 4.04% | 1.38x | 2.98x | $151.72 Million |
| 2012 | 15.48% | 3.96% | 1.25x | 3.12x | $146.48 Million |
| 2013 | 14.38% | 3.79% | 1.16x | 3.28x | $132.37 Million |
| 2014 | 14.85% | 3.75% | 1.12x | 3.53x | $160.89 Million |
| 2015 | 18.92% | 4.02% | 1.13x | 4.18x | $281.68 Million |
| 2016 | 21.46% | 3.94% | 1.09x | 4.99x | $332.95 Million |
| 2017 | 20.17% | 3.77% | 1.02x | 5.24x | $316.11 Million |
| 2018 | 20.02% | 3.67% | 1.04x | 5.27x | $332.43 Million |
| 2019 | 25.09% | 4.40% | 1.02x | 5.58x | $506.71 Million |
| 2020 | 23.57% | 4.15% | 1.02x | 5.59x | $511.55 Million |
| 2021 | 17.11% | 3.72% | 0.93x | 4.94x | $310.46 Million |
| 2022 | 21.99% | 3.47% | 1.26x | 5.03x | $627.75 Million |
| 2023 | 8.64% | 1.56% | 1.19x | 4.66x | $-76.55 Million |
| 2024 | 7.89% | 1.70% | 1.04x | 4.48x | $-128.17 Million |
| 2025 | 8.02% | 1.77% | 1.03x | 4.39x | $-123.74 Million |
Industry Comparison
This section compares CarMax Inc's net assets metrics with peer companies in the Auto & Truck Dealerships industry.
Industry Context
- Industry: Auto & Truck Dealerships
- Average net assets among peers: $399,329,900
- Average return on equity (ROE) among peers: 4.41%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| CarMax Inc (KMX) | $6.06 Billion | -2.37% | 3.22x | $5.46 Billion |
| Asbury Automotive Group Inc (ABG) | $201.19 Million | 0.78% | 4.16x | $3.95 Billion |
| ACV Auctions Inc. (ACVA) | $556.10 Million | -14.06% | 0.77x | $1.29 Billion |
| ACV Auctions Inc. (ACVA) | $440.00 Million | -18.11% | 1.24x | $909.06 Million |
| AutoNation Inc (AN) | $2.38 Billion | 57.76% | 2.76x | $6.72 Billion |
| Autozi Internet Technology (Global) Ltd. Class A Ordinary Shares (AZI) | $-12.50 Million | 0.00% | 0.00x | $5.66 Million |
| Boyd Group Services Inc. (BGSI) | $828.33 Million | 10.46% | 1.88x | $3.34 Billion |
| CarGurus (CARG) | $541.69 Million | 3.87% | 0.52x | $3.00 Billion |
| Americas Car-Mart Inc (CRMT) | $123.73 Million | 3.42% | 0.40x | $105.43 Million |
| Carvana Co (CVNA) | $-1.05 Billion | 0.00% | 0.00x | $44.74 Billion |
| Camping World Holdings Inc (CWH) | $-9.23 Million | 0.00% | 0.00x | $487.48 Million |
About CarMax Inc
CarMax, Inc., through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. The company operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles… Read more