Below are the financial statements of Carmax, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2025 | 2024 | 2023 |
|---|---|---|---|
| Sales and operating revenues | — | — | — |
| Used vehicle sales | 21,079.65a | 20,922.28a | 23,034.29a |
| Wholesale vehicle sales | 4,587.46a | 4,975.8a | 5,989.8a |
| Other sales and revenues | 686.31a | 637.96a | 660.79a |
| Net sales and operating revenues | 26,353.42a | 26,536.04a | 29,684.87a |
| Cost of sales | — | — | — |
| Used vehicle cost of sales | -19,256.48a | -19,170.32a | -21,186.14a |
| Wholesale vehicle cost of sales | -4,029.88a | -4,419.04a | -5,399.97a |
| Other cost of sales | -169.16a | -233.47a | -298.57a |
| Total cost of sales | -23,455.52a | -23,822.83a | -26,884.67a |
| Gross profit | 2,897.9a | 2,713.21a | 2,800.2a |
| CarMax Auto Finance income | 581.75a | 568.27a | 663.4a |
| Selling, general and administrative expenses | -2,435.4a | -2,286.38a | -2,487.36a |
| Depreciation and amortization | -255.32a | -239.03a | -228.45a |
| Interest expense | -107.94a | -124.75a | -120.4a |
| Other expense (income) | 11.62a | -10.27a | -9.4a |
| Earnings before income taxes | 669.36a | 641.6a | 636.8a |
| Income tax provision | -168.8a | -162.39a | -152.04a |
| Net earnings | 500.56a | 479.2a | 484.76a |
| Used vehicle sales | 21,079.65b | 20,922.28b | 23,034.29b |
| Wholesale vehicle sales | 4,587.46b | 4,975.8b | 5,989.8b |
| Other sales and revenues | 686.31b | 637.96b | 660.79b |
| Net sales and operating revenues | 26,353.42b | 26,536.04b | 29,684.87b |
| Used vehicle cost of sales | -19,256.48b | -19,170.32b | -21,186.14b |
| Wholesale vehicle cost of sales | -4,029.88b | -4,419.04b | -5,399.97b |
| Other cost of sales | -169.16b | -233.47b | -298.57b |
| Total cost of sales | -23,455.52b | -23,822.83b | -26,884.67b |
| Gross profit | 2,897.9b | 2,713.21b | 2,800.2b |
| CarMax Auto Finance income | 581.75b | 568.27b | 663.4b |
| Selling, general and administrative expenses | -2,435.4b | -2,286.38b | -2,487.36b |
| Depreciation and amortization | -255.32b | -239.03b | -228.45b |
| Interest expense | -107.94b | -124.75b | -120.4b |
| Other expense (income) | 11.62b | -10.27b | -9.4b |
| Earnings before income taxes | 669.36b | 641.6b | 636.8b |
| Income tax provision | -168.8b | -162.39b | -152.04b |
| Net earnings | 500.56b | 479.2b | 484.76b |
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