KMX FY 2022 Earnings Report — CarMax, Inc. Revenue & Financial Results | Market Cap Arena

CarMax, Inc.KMX

FY 2022 Earnings

Reported April 14, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$33.2B	—	$20.1B	—	65.2%
Op. Income	$1.6B	—	$1.0B	—	54.7%
Gross Margin	11.7%	—	14.6%	—	-3.0pp
Net Margin	3.5%	—	3.7%	—	-0.2pp
EPS (Diluted)	$6.97	—	$4.52	—	54.2%
Free Cash Flow	-$2.9B	—	$503M	—	-667.9%

Revenue Flow

Item	Amount
REVENUE	$33.2B
Cost of Revenue	$29.3B
GROSS PROFIT	$3.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.3B
Other Expenses	$0
Operating Expenses	$2.3B
Cost & Expenses	$31.6B
OPERATING INCOME	$1.6B
Interest Income	$0
Interest Expense	$94M
Other Income/Expenses	-$60M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$341M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$280M
EBIT	$1.6B
EBITDA	$1.9B
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$33.2B
Cost of Revenue	$29.3B
GROSS PROFIT	$3.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.3B
Other Expenses	$0
Operating Expenses	$2.3B
Cost & Expenses	$31.6B
OPERATING INCOME	$1.6B
Interest Income	$0
Interest Expense	$94M
Other Income/Expenses	-$60M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$341M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$280M
EBIT	$1.6B
EBITDA	$1.9B
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$273M
Stock-Based Compensation	$109M
Deferred Income Tax	$15M
Other Non-Cash Items	$237M
Change in Working Capital	-$4.3B
OPERATING CASH FLOW	-$2.5B
Capital Expenditure	-$309M
Acquisitions (Net)	-$229M
Purchases of Investments	-$25M
Sales/Maturities of Investments	$38M
Other Investing Activities	$260.0K
NET CASH FROM INVESTING	-$524M
Net Debt Issuance	$3.6B
Common Stock Repurchased	-$576M
Common Dividends Paid	$0
Other Financing Activities	-$20M
NET CASH FROM FINANCING	$3.1B
FREE CASH FLOW	-$2.9B
Net Change in Cash	$32M

Balance Sheet

Item	Amount
Cash & Equivalents	$103M
Short-Term Investments	$0
Net Receivables	$561M
Inventory	$5.1B
Other Current Assets	$761M
TOTAL CURRENT ASSETS	$6.5B
PP&E (Net)	$3.7B
Goodwill	$141M
Intangible Assets	$0
Long-Term Investments	$15.5B
Tax Assets	$121M
Other Non-Current Assets	$276M
TOTAL NON-CURRENT ASSETS	$19.8B
TOTAL ASSETS	$26.3B
Account Payables	$938M
Short-Term Debt	$532M
Deferred Revenue	$0
Other Current Liabilities	$231M
TOTAL CURRENT LIABILITIES	$2.0B
Long-Term Debt	$18.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$357M
TOTAL NON-CURRENT LIABILITIES	$19.1B
TOTAL LIABILITIES	$21.1B
Common Stock	$81M
Additional Paid-In Capital	$1.7B
Retained Earnings	$3.5B
Treasury Stock	$0
Accum. Other Comp. Income	-$46M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.2B
Minority Interest	$0
TOTAL EQUITY	$5.2B
TOTAL LIABILITIES & EQUITY	$26.3B
Total Debt	$19.3B
Net Debt	$19.2B