What is CarMax's net debt?

CarMax (KMX) reported net debt of $2.65B in Q1 2026.

How has CarMax's net debt changed year-over-year?

CarMax's net debt increased by 29.0% year-over-year, from $2.05B to $2.65B.

What is the long-term trend for CarMax's net debt?

Over 5 years (2021 to 2026), CarMax's net debt has grown at a 9.7% compound annual growth rate (CAGR), from $1.77B to $2.82B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

CarMax KMX Net debt

Discontinued — last reported Q1 '27

Net debt at other companies

MattelMAT

2.8×+1.1×

Dorman ProductsDORM

1.5×+0.1×

International Seaways, Inc.INSW

0.6×-0.3×

John Wiley & Sons, Inc.WLYB

1.6×-0.6×

Acadia HealthcareACHC

7.1×—

APA

Artisan Partners Asset Management Inc.APAM

0×-0.1×

Other financials

Income statement

See full

Revenue$8.0B+6.2%

Gross profit$854.4M-4.4%

Net income$185.6M-11.8%

EPS (diluted)$1.31-5.1%

Balance sheet

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Cash & equivalents$132.2M-49.7%

Total debt$2.8B+20.0%

Total assets$26.6B-2.8%

Cash flow

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Operating cash flow$17.6M-94.1%

CapEx$103.3M-24.4%

Free cash flow-$85.7M-153%

Valuation

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Market cap$7.37B-34.0%

Profitability

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Gross margin10.5%-0.7pp

Net margin1.8%0.0pp

FCF margin7.5%—

Returns & leverage

See full

Current ratio2.7×+0.3×

Where this comes from

Calculated from CarMax’s reported figures.

$2.8Btotal debt−$132.2Mcash and equivalents=$2.65B

The official record: CarMax’s 10-Q, filed June 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is CarMax's net debt?: CarMax (KMX) reported net debt of $2.65B in Q1 2026.
How has CarMax's net debt changed year-over-year?: CarMax's net debt increased by 29.0% year-over-year, from $2.05B to $2.65B.
What is the long-term trend for CarMax's net debt?: Over 5 years (2021 to 2026), CarMax's net debt has grown at a 9.7% compound annual growth rate (CAGR), from $1.77B to $2.82B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.