Credit and interest ratespositive · 6 filings
“We believe that the carrying value of our revolving credit facility and term loans approximates fair value due to the variable rates associated with these obligations.”10-Q · Sep 30, 2026 ↗
CarMax, Inc.
KMX
Market read
CarMax, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 6 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
Company-7.1% todayVolume comparison unavailable
Market group0 of 6 activeEconomic Cyclicals · unavailable
Disclosed network0 of 6 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- KMX's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if KMX's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 6 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- KMX's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations341
Usable filing statements189
Verified relationships6
Evidence supporting the case
- Operating cash flow covered net income at 7.21x in the latest annual period.
Evidence challenging the case
- Latest annual revenue changed -1.8% year over year.
- Macroeconomic conditions has repeated adverse evidence across 6 filings.
Questions before a position
- P/E is 256% above the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 90% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 30, 2026
55.046m+32.4%12m+21.6%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-02-28$31.9B+68.3%$6.97+0.0%
2023-02-28$29.7B-6.9%$3.03-3.3%
2024-02-29$26.5B-10.6%$3.02-0.7%
2025-02-28$26.4B-0.7%$3.21-1.7%
2026-02-28$25.9B-1.8%$1.68-5.4%
What management says matters
Persistent and emerging business drivers
Macroeconomic conditionsnegative · 6 filings
“The savings are also expected to be impacted by variable costs associated with higher sales, inflationary pressures and new location growth.”10-Q · Sep 30, 2026 ↗
Demand and volumemixed · 3 filings
“The decrease was primarily due to a decrease in volume driven by seasonality as well as strong sales demand.”10-Q · Sep 30, 2026 ↗
Restructuring and cost reductionsnegative · 2 filings
“The impairment was driven by a combination of a significant decline in market capitalization resulting from the decrease in our share price, pressured financial performance during fiscal 2026 and downward revisions to our forecasted financial outlook relative…”10-K · Apr 15, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 0.3× · EV/sales 1.0×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
55.04-7.1% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 30 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for KMX. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for KMX. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind KMX
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
ALLYAlly Financial Inc.partnerApr 15, 2026 ▾
“As of February 28, 2026, our network of third-party finance providers included Ally Financial, American Credit Acceptance, Bank of America, Capital One Auto Finance, Exeter Finance Corp., Santander Consumer USA and Westlake Financial Services.”
CACCCredit Acceptance CorporationpartnerApr 15, 2026 ▾
“As of February 28, 2026, our network of third-party finance providers included Ally Financial, American Credit Acceptance, Bank of America, Capital One Auto Finance, Exeter Finance Corp., Santander Consumer USA and Westlake Financial Services.”
Depended on by
ALLYAlly Financial Inc.distributorMay 5, 2026 ▾
“Our non-OEM-franchised dealers and automotive retailers include used-vehicle-only retailers with a national presence, such as CarMax and EchoPark, as well as primarily online automotive retailers, such as Carvana.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 5 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
KMX is currently a Early Follower in the organic co-movement group Economic Cyclicals. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for KMX; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.