KMX FY 2018 Earnings Report — CarMax, Inc. Revenue & Financial Results | Market Cap Arena

CarMax, Inc.KMX

FY 2018 Earnings

Reported April 24, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$18.1B	—	$16.6B	—	8.9%
Op. Income	$1.1B	—	$1.1B	—	6.5%
Gross Margin	15.9%	—	15.3%	—	0.6pp
Net Margin	3.7%	—	3.8%	—	-0.1pp
EPS (Diluted)	$3.60	—	$3.26	—	10.4%
Free Cash Flow	-$377M	—	-$886M	—	57.4%

Revenue Flow

Item	Amount
REVENUE	$18.1B
Cost of Revenue	$15.2B
GROSS PROFIT	$2.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.6B
Other Expenses	-$138M
Operating Expenses	$1.8B
Cost & Expenses	$17.0B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$71M
Other Income/Expenses	-$69M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$399M
Net Income from Continuing Ops	$664M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$664M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$664M
D&A	$180M
EBIT	$1.1B
EBITDA	$1.3B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$18.1B
Cost of Revenue	$15.2B
GROSS PROFIT	$2.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.6B
Other Expenses	-$138M
Operating Expenses	$1.8B
Cost & Expenses	$17.0B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$71M
Other Income/Expenses	-$69M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$399M
Net Income from Continuing Ops	$664M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$664M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$664M
D&A	$180M
EBIT	$1.1B
EBITDA	$1.3B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$664M
Depreciation & Amortization	$180M
Stock-Based Compensation	$62M
Deferred Income Tax	$81M
Other Non-Cash Items	$202M
Change in Working Capital	-$1.3B
OPERATING CASH FLOW	-$81M
Capital Expenditure	-$297M
Acquisitions (Net)	$97.0K
Purchases of Investments	-$9M
Sales/Maturities of Investments	$2M
Other Investing Activities	-$23M
NET CASH FROM INVESTING	-$327M
Net Debt Issuance	$936M
Common Stock Repurchased	-$580M
Common Dividends Paid	$0
Other Financing Activities	-$16M
NET CASH FROM FINANCING	$413M
FREE CASH FLOW	-$377M
Net Change in Cash	$6M

Balance Sheet

Item	Amount
Cash & Equivalents	$45M
Short-Term Investments	$0
Net Receivables	$133M
Inventory	$2.4B
Other Current Assets	$493M
TOTAL CURRENT ASSETS	$3.1B
PP&E (Net)	$2.7B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$63M
Other Non-Current Assets	$11.7B
TOTAL NON-CURRENT ASSETS	$14.4B
TOTAL ASSETS	$17.5B
Account Payables	$530M
Short-Term Debt	$366M
Deferred Revenue	$0
Other Current Liabilities	$89M
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$12.3B
Deferred Revenue NC	-$84M
Deferred Tax Liabilities	$84M
Other Non-Current Liabilities	$243M
TOTAL NON-CURRENT LIABILITIES	$13.0B
TOTAL LIABILITIES	$14.2B
Common Stock	$90M
Additional Paid-In Capital	$1.2B
Retained Earnings	$2.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$54M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.3B
Minority Interest	$0
TOTAL EQUITY	$3.3B
TOTAL LIABILITIES & EQUITY	$17.5B
Total Debt	$13.1B
Net Debt	$13.1B