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CarMax Valuation Multiples
Discover revenue and EBITDA valuation multiples for CarMax and similar public comparables like Floor & Décor, Urban Outfitters, JB Hi Fi, Rush Enterprises and more.
CarMax Overview
About CarMax
CarMax sells, finances, and services used and new cars through a chain of over 250 used retail stores. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales were 83% of fiscal 2025 revenue and wholesale about 17%, with the remaining portion composed of extended service plans and repair. In fiscal 2025, the company retailed and wholesaled 789,050 and 544,312 used vehicles, respectively. CarMax is the largest used-vehicle retailer in the US but still estimates that it had only about 3.7% US market share of vehicles 0-10 years old in calendar 2024. It seeks over 5% share. CarMax is based in Richmond, Virginia.
Founded
1996
HQ
Employees
30.0K
Website
Sectors
Financials (LTM)
EV
$24B
CarMax Financials
CarMax reported last 12-month revenue of $26B and EBITDA of $988M.
In the same LTM period, CarMax generated $3B in gross profit, $988M in EBITDA, and $417M in net income.
Revenue (LTM)
CarMax P&L
In the most recent fiscal year, CarMax reported revenue of $26B and EBITDA of $2B.
CarMax expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $26B | XXX | $26B | XXX | XXX | XXX |
| Gross Profit | $3B | XXX | $3B | XXX | XXX | XXX |
| Gross Margin | 11% | XXX | 11% | XXX | XXX | XXX |
| EBITDA | $988M | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 4% | XXX | 6% | XXX | XXX | XXX |
| EBIT Margin | 2% | XXX | 3% | XXX | XXX | XXX |
| Net Profit | $417M | XXX | $430M | XXX | XXX | XXX |
| Net Margin | 2% | XXX | 2% | XXX | XXX | XXX |
| Net Debt | — | — | $18B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
CarMax Stock Performance
CarMax has current market cap of $6B, and enterprise value of $24B.
Market Cap Evolution
CarMax's stock price is $40.49.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $24B | $6B | -0.0% | XXX | XXX | XXX | $3.03 |
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Start Free TrialCarMax Valuation Multiples
CarMax trades at 0.9x EV/Revenue multiple, and 24.5x EV/EBITDA.
EV / Revenue (LTM)
CarMax Financial Valuation Multiples
As of April 17, 2026, CarMax has market cap of $6B and EV of $24B.
Equity research analysts estimate CarMax's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
CarMax has a P/E ratio of 13.8x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $6B | XXX | $6B | XXX | XXX | XXX |
| EV (current) | $24B | XXX | $24B | XXX | XXX | XXX |
| EV/Revenue | 0.9x | XXX | 0.9x | XXX | XXX | XXX |
| EV/EBITDA | 24.5x | XXX | 15.0x | XXX | XXX | XXX |
| EV/EBIT | 37.7x | XXX | 37.1x | XXX | XXX | XXX |
| EV/Gross Profit | 8.6x | XXX | 8.6x | XXX | XXX | XXX |
| P/E | 13.8x | XXX | 13.4x | XXX | XXX | XXX |
| EV/FCF | 20.3x | XXX | 19.0x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified CarMax Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
CarMax Margins & Growth Rates
CarMax's revenue in the last 12 month grew by 0%.
CarMax's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $0.1M for the same period.
CarMax's rule of 40 is 4% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
CarMax's rule of X is 3% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
CarMax Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 0% | XXX | (0%) | XXX | XXX | XXX |
| EBITDA Margin | 4% | XXX | 6% | XXX | XXX | XXX |
| EBITDA Growth | (4%) | XXX | (42%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 4% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 3% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.9M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 1% | XXX | 9% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 12% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
CarMax Public Comps
See public comps and valuation multiples for other Specialty Stores comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| CarMax | XXX | XXX | XXX | XXX | XXX | XXX |
| Floor & Décor | XXX | XXX | XXX | XXX | XXX | XXX |
| Urban Outfitters | XXX | XXX | XXX | XXX | XXX | XXX |
| JB Hi Fi | XXX | XXX | XXX | XXX | XXX | XXX |
| Rush Enterprises | XXX | XXX | XXX | XXX | XXX | XXX |
| Grupo Elektra | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
CarMax M&A Activity
CarMax acquired XXX companies to date.
Last acquisition by CarMax was on XXXXXXXX, XXXXX. CarMax acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by CarMax
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
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Start Free TrialCarMax Investment Activity
CarMax invested in XXX companies to date.
CarMax made its latest investment on XXXXXXXX, XXXXX. CarMax invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by CarMax
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout CarMax
| When was CarMax founded? | CarMax was founded in 1996. |
| Where is CarMax headquartered? | CarMax is headquartered in United States. |
| How many employees does CarMax have? | As of today, CarMax has over 30K employees. |
| Who is the CEO of CarMax? | CarMax's CEO is David W. Mccreight. |
| Is CarMax publicly listed? | Yes, CarMax is a public company listed on NYSE. |
| What is the stock symbol of CarMax? | CarMax trades under KMX ticker. |
| When did CarMax go public? | CarMax went public in 1997. |
| Who are competitors of CarMax? | CarMax main competitors are Floor & Décor, Urban Outfitters, JB Hi Fi, Rush Enterprises. |
| What is the current market cap of CarMax? | CarMax's current market cap is $6B. |
| What is the current revenue of CarMax? | CarMax's last 12 months revenue is $26B. |
| What is the current revenue growth of CarMax? | CarMax revenue growth (NTM/LTM) is 0%. |
| What is the current EV/Revenue multiple of CarMax? | Current revenue multiple of CarMax is 0.9x. |
| Is CarMax profitable? | Yes, CarMax is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of CarMax? | CarMax's last 12 months EBITDA is $988M. |
| What is CarMax's EBITDA margin? | CarMax's last 12 months EBITDA margin is 4%. |
| What is the current EV/EBITDA multiple of CarMax? | Current EBITDA multiple of CarMax is 24.5x. |
| What is the current FCF of CarMax? | CarMax's last 12 months FCF is $1B. |
| What is CarMax's FCF margin? | CarMax's last 12 months FCF margin is 5%. |
| What is the current EV/FCF multiple of CarMax? | Current FCF multiple of CarMax is 20.3x. |
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