CarMax Inc
Capital Structure
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in mil. unless spec.Company Description
- CEO
- Keith Barr
- Full Time Employees
- 27,796
- Sector
- Retail trade
- Industry
- Specialty stores
- Address
- 12800 Tuckahoe Creek Parkway Richmond VA United States 23238
- IPO Date
- Feb 7, 1997
- CIK
- 0001170010
- Website
- carmax.com
- Similar Companies
- Business
- CarMax, Inc. (NYSE: KMX) operates as the nation's largest retailer of used vehicles in the United States, offering a customer-centric omni-channel experience that integrates online browsing, in-store sales, and nationwide delivery through more than 250 locations across 41 states; the company retails certified pre-owned automobiles with no-haggle upfront pricing, detailed vehicle history reports, and comprehensive inspections, while also providing wholesale vehicle auctions, vehicle reconditioning and repair services, extended protection plans, and financing through its CarMax Auto Finance (CAF) segment, which originates and services auto loans across prime, Tier 2, Tier 3, and non-prime credit spectrums. Founded in 1993 in Richmond, Virginia, where it maintains headquarters, CarMax spun off from Circuit City and has evolved to focus exclusively on used vehicles after divesting new car franchises by 2021. The company targets individual consumers and serves institutional buyers via wholesale channels, with CAF generating significant finance income from retail sales. In recent developments, CarMax expanded its physical footprint in fiscal 2025 by opening five new retail stores, including its 250th location in Visalia, California, and Mays Landing, New Jersey, alongside stand-alone reconditioning centers in Richland, Mississippi, and auction facilities in Chino, California; the company launched its first non-prime and higher-prime asset-backed securitization transactions in June and July 2025 to bolster CAF funding capacity and support growth in subprime lending. Fiscal 2026 plans include six additional stores and four reconditioning/auction centers, with capital expenditures of approximately $575 million, complemented by new digital tools such as at-home pickup and Offer Watch services to enhance omni-channel convenience and vehicle selling. CarMax also repurchased over 5 million shares for nearly $300 million in the past year, underscoring confidence in long-term earnings growth through operational efficiencies, EV retail leadership, and SG&A leverage.
Company News
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