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Intrinsic value of CarMax, Inc. (KMX)

Previous Close$92.46
Intrinsic Value
Upside potential
Previous Close
$92.46

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Cash & ST Investments
Total debt
Market cap, m$
14,895

Based on fiscal year data as of 2022-02-28 and quarterly data as of 2022-02-28.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2022(a)2023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047

INCOME STATEMENT

Revenue growth rate, %68.3NaN
Revenue, $31900NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m30348NaN
Operating income, $m1552NaN
EBITDA, $m1825NaN
Interest expense (income), $mNaN
Earnings before tax, $m1492NaN
Tax expense, $m341NaN
Net income, $m1151NaN

BALANCE SHEET

Cash and short-term investments, $m651NaN
Total assets, $m26672NaN
Adjusted assets (=assets-cash), $m26021NaN
Average production assets, $m3687NaN
Working capital, $m4502NaN
Total debt, $m19430NaN
Total liabilities, $m21437NaN
Total equity, $m5235NaN
Debt-to-equity ratio3.712NaN
Adjusted equity ratio0.199NaN

CASH FLOW

Net income, $m1151NaN
Depreciation, amort., depletion, $m273NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m-2549NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-308NaN
Free cash flow, $m-2241NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m4502
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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