Carmax Net Worth (Updated 2026).

CarMax was founded in 1993 by a group of entrepreneurs who saw an opportunity in the used car market. The company’s inception was a strategic move by its founders, who were former executives at Circuit City, a consumer electronics retailer. They recognized the potential in the used car industry, which was largely unorganized and lacked a customer-focused approach.

CarMax’s innovative business model set it apart from traditional used car dealerships. The company introduced a no-haggle pricing strategy, which eliminated the time-consuming and often stressful negotiation process. This approach, along with their extensive inventory and commitment to customer service, quickly gained popularity among car buyers.

**CarMax’s Current Net Worth (as of 2025)**

As of 2025, CarMax’s current net worth is approximately $16.5 billion. This figure is based on the company’s market capitalization and is subject to change due to fluctuations in stock price.

**CarMax’s Career**

Founded in 1993, CarMax is a leading used car retailer in the United States. The company pioneered the “Supercenter” concept, offering a wide selection of vehicles and a customer-centric buying experience. Today, CarMax operates over 220 stores across 36 states and has consistently ranked high in customer satisfaction.

**CarMax’s Other Ventures**

In addition to its retail operations, CarMax has ventured into wholesale vehicle sales and remarketing services. The company’s CarMax Auto Finance division provides financing options for customers, while CarMax Select Cars offers a no-haggle pricing model for budget-conscious buyers. Furthermore, CarMax has expanded into online sales, allowing customers to shop and purchase vehicles online.

**CarMax’s Assets**

CarMax’s primary assets include its extensive network of retail stores, its inventory of used vehicles, and its strong brand recognition. The company also holds significant cash and cash equivalents, as well as investments in marketable securities. As of 2021, CarMax’s total assets were valued at over $15 billion.

**CarMax’s Annual Income**

In the fiscal year 2021, CarMax reported total revenue of $17.7 billion, a 14% increase from the previous year. The company’s net earnings for the year were $768.5 million, with earnings per share of $4.71. CarMax’s strong financial performance can be attributed to its robust used vehicle sales and a growing customer base.

Frequently Asked Questions about  Carmax

Frequently Asked Questions: Carmax Net Worth

1. What is Carmax’s net worth?

Carmax’s net worth is estimated to be around $17 billion.

2. How does Carmax make money?

Carmax makes money primarily through the sale of used vehicles. They also generate revenue through their vehicle service centers and wholesale vehicle sales.

3. What is Carmax’s business model?

Carmax’s business model is based on selling used vehicles directly to consumers. They buy vehicles from customers, recondition them, and sell them with a warranty. They also offer vehicle financing and extended service contracts.

4. How many vehicles does Carmax sell annually?

Carmax sells around 700,000 vehicles annually.

5. What is the average price of a vehicle sold by Carmax?

The average price of a vehicle sold by Carmax is around $20,000.

6. How many stores does Carmax operate?

Carmax operates over 200 stores in 38 states.

7. When was Carmax founded?

Carmax was founded in 1993.

8. Who is the CEO of Carmax?

The current CEO of Carmax is Bill Nash.

9. What is Carmax’s stock symbol?

Carmax’s stock symbol is KMX.

10. How many employees does Carmax have?

Carmax employs over 25,000 people.