CarMax (KMX) Balance Sheet: Assets & Liabilities

CarMax (KMX) Balance Sheet

As of Feb 28, 2026 (end of fiscal 2026), CarMax reported total assets of $26.37B and total liabilities of $20.48B. Shareholders' equity was $5.89B, down 5.7% from $6.24B a year earlier. Total debt stood at $18.02B against $122.83M in cash and short-term investments, a net debt position of $17.90B. That puts debt-to-equity at 3.06, compared with 2.98 a year earlier.

CarMax Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for CarMax, Inc. (KMX) - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Feb 2026	Feb 2025	Feb 2024	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017
Current Assets
Cash and Cash Equivalents	0.12	0.25	0.57	0.31	0.10	0.13	0.06	0.05	0.04	0.04
Cash & Short-Term Investments	0.12	0.25	0.57	0.31	0.10	0.13	0.06	0.05	0.04	0.04
Accounts Receivable	0.20	0.19	0.22	0.30	0.56	0.24	0.19	0.14	0.13	0.15
Inventory	4.14	3.93	3.68	3.73	5.12	3.16	2.85	2.52	2.39	2.26
Other Current Assets	0.15	0.71	0.25	0.70	0.21	0.59	0.57	0.51	0.49	0.42
Total Current Assets	5.31	5.08	5.23	5.04	6.55	4.12	3.66	3.21	3.06	2.87
Non-Current Assets
Property, Plant & Equipment (Net)	4.53	4.34	4.19	3.98	3.75	3.49	3.52	2.83	2.67	2.52
Long-Term Investments	15.95	17.24	0.14	16.34	15.50	13.74	0.16	0.00	0.00	0.00
Goodwill	0.00	0.14	0.14	0.14	0.14	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	0.50	0.61	0.53	0.68	0.49	0.03	13.65	12.61	11.69	10.74
Total Non-Current Assets	21.06	22.33	21.97	21.14	19.79	17.42	17.42	15.50	14.42	13.41
Total Assets	26.37	27.40	27.20	26.18	26.34	21.54	21.08	18.72	17.49	16.28
Current Liabilities
Accounts Payable	1.12	0.98	0.93	0.83	0.94	0.80	0.74	0.59	0.53	0.49
Short-Term Debt	0.76	0.49	0.80	0.58	0.53	0.49	0.46	0.40	0.38	0.34
Current Portion of Long-Term Debt	0.76	0.54	0.80	0.58	0.53	0.45	-	-	-	-
Accrued Liabilities	0.48	0.62	0.52	0.48	0.53	0.26	-	-	-	-
Deferred Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Liabilities	1.24	0.19	0.52	0.25	0.53	0.41	0.33	0.32	0.27	0.26
Total Current Liabilities	2.41	2.20	2.31	1.94	2.05	1.70	1.53	1.31	1.17	1.11
Non-Current Liabilities
Long-Term Debt	17.26	18.14	17.96	17.78	18.18	15.04	15.38	13.80	12.75	11.83
Deferred Tax Liabilities	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.08	0.08
Other Non-Current Liabilities	0.34	0.34	0.35	0.33	0.36	0.43	0.39	0.24	0.24	0.24
Total Non-Current Liabilities	18.06	18.96	18.81	18.63	19.06	15.48	15.78	14.05	13.00	12.06
Total Liabilities	20.48	21.16	21.12	20.57	21.10	17.18	17.31	15.36	14.17	13.17
Stockholders' Equity
Common Stock	0.07	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.09	0.09
Retained Earnings	4.04	4.27	4.13	3.72	3.52	2.89	2.49	2.10	2.05	1.88
Accumulated Other Comprehensive Income	-0.03	0.00	0.06	0.10	-0.05	-0.12	-0.15	-0.07	-0.05	-0.06
Additional Paid-in Capital	1.81	1.89	1.81	1.71	1.68	1.51	1.35	1.24	1.23	1.19
Shares Outstanding	0.14	0.15	0.16	0.16	0.16	-	-	-	-	-
Total Stockholders' Equity	5.89	6.24	6.07	5.61	5.24	4.36	3.77	3.36	3.32	3.11
Total Liabilities & Equity	26.37	27.40	27.20	26.18	26.34	21.54	21.08	18.72	17.49	16.28

Source: Company financial statements from annual and quarterly filings. Data as of Aug 31, 2026. Data sources and methodology

Frequently Asked Questions About CarMax Balance Sheet

How much debt does CarMax have?

CarMax had total debt of $18.02B as of Feb 28, 2026, against $122.83M in cash and short-term investments. Its debt-to-equity ratio was 3.06. Total debt was $18.62B a year earlier.

What are CarMax's total assets?

CarMax reported total assets of $26.37B as of Feb 28, 2026, down 3.8% from $27.40B a year earlier. Total liabilities were $20.48B.

What is CarMax's shareholders' equity?

CarMax's shareholders' equity was $5.89B as of Feb 28, 2026, or about $41.53 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition