Carmax annual debt-to-equity ratio
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2026
Carmax Debt-to-Equity Ratio Growth & History (KMX)
Carmax's debt-to-equity ratio was 3.19 for fiscal 2026.
View full Carmax company overviewCarmax annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2026 | 2026-02-28 | 3.19 | 0.07 | +2.27% |
| 2025 | 2025-02-28 | 3.12 | −0.10 | −3.23% |
| 2024 | 2024-02-29 | 3.22 | −0.19 | −5.59% |
| 2023 | 2023-02-28 | 3.41 | −0.31 | −8.23% |
| 2022 | 2022-02-28 | 3.72 | 0.12 | +3.43% |
| 2021 | 2021-02-28 | 3.59 | −0.64 | −15.14% |
| 2020 | 2020-02-29 | 4.23 | 0.13 | +3.18% |
| 2019 | 2019-02-28 | 4.10 | 0.26 | +6.73% |
| 2018 | 2018-02-28 | 3.84 | 0.04 | +1.06% |
| 2017 | 2017-02-28 | 3.80 | 0.25 | +7.08% |
| 2016 | 2016-02-29 | 3.55 | 0.76 | +27.18% |
| 2015 | 2015-02-28 | 2.79 | 0.51 | +22.19% |
| 2014 | 2014-02-28 | 2.29 | 0.23 | +11.17% |
| 2013 | 2013-02-28 | 2.06 | 0.17 | +8.80% |
| 2012 | 2012-02-29 | 1.89 | −0.07 | −3.69% |
| 2011 | 2011-02-28 | 1.96 | 1.88 | +2371.01% |
| 2010 | 2010-02-28 | 0.08 | — | — |
Carmax quarterly debt-to-equity ratio
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Q1.27
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q1 2027 | 2026-05-31 | 3.08 | −0.02 | −0.70% |
| Q4 2026 | 2026-02-28 | 3.19 | 0.07 | +2.27% |
| Q3 2026 | 2025-11-30 | 2.98 | −0.15 | −4.83% |
| Q2 2026 | 2025-08-31 | 3.12 | −0.03 | −0.89% |
| Q1 2026 | 2025-05-31 | 3.10 | −0.07 | −2.18% |
| Q4 2025 | 2025-02-28 | 3.12 | −0.10 | −3.23% |
| Q3 2025 | 2024-11-30 | 3.13 | −0.13 | −4.11% |
| Q2 2025 | 2024-08-31 | 3.15 | −0.13 | −4.05% |
| Q1 2025 | 2024-05-31 | 3.17 | −0.17 | −5.08% |
| Q4 2024 | 2024-02-29 | 3.22 | −0.19 | −5.59% |
| Q3 2024 | 2023-11-30 | 3.27 | −0.20 | −5.67% |
| Q2 2024 | 2023-08-31 | 3.28 | −0.31 | −8.74% |
| Q1 2024 | 2023-05-31 | 3.34 | −0.21 | −5.87% |
| Q4 2023 | 2023-02-28 | 3.41 | −0.31 | −8.23% |
| Q3 2023 | 2022-11-30 | 3.46 | −0.21 | −5.69% |
| Q2 2023 | 2022-08-31 | 3.60 | −0.04 | −1.20% |
| Q1 2023 | 2022-05-31 | 3.55 | 0.08 | +2.44% |
| Q4 2022 | 2022-02-28 | 3.72 | 0.12 | +3.43% |
| Q3 2022 | 2021-11-30 | 3.67 | −0.09 | −2.41% |
| Q2 2022 | 2021-08-31 | 3.64 | −0.34 | −8.53% |
| Q1 2022 | 2021-05-31 | 3.47 | −0.85 | −19.61% |
| Q4 2021 | 2021-02-28 | 3.59 | −0.64 | −15.14% |
| Q3 2021 | 2020-11-30 | 3.76 | −0.32 | −7.79% |
| Q2 2021 | 2020-08-31 | 3.98 | −0.13 | −3.25% |
| Q1 2021 | 2020-05-31 | 4.31 | 0.11 | +2.60% |
| Q4 2020 | 2020-02-29 | 4.23 | 0.13 | +3.18% |
| Q3 2020 | 2019-11-30 | 4.08 | 0.15 | +3.82% |
| Q2 2020 | 2019-08-31 | 4.12 | 0.33 | +8.75% |
| Q1 2020 | 2019-05-31 | 4.20 | 0.40 | +10.61% |
| Q4 2019 | 2019-02-28 | 4.10 | 0.26 | +6.73% |
| Q3 2019 | 2018-11-30 | 3.93 | 0.10 | +2.49% |
| Q2 2019 | 2018-08-31 | 3.78 | −0.04 | −0.99% |
| Q1 2019 | 2018-05-31 | 3.80 | 0.02 | +0.46% |
| Q4 2018 | 2018-02-28 | 3.84 | 0.04 | +1.06% |
| Q3 2018 | 2017-11-30 | 3.83 | 0.02 | +0.64% |
| Q2 2018 | 2017-08-31 | 3.82 | 0.19 | +5.15% |
| Q1 2018 | 2017-05-31 | 3.78 | 0.25 | +6.98% |
| Q4 2017 | 2017-02-28 | 3.80 | 0.25 | +7.08% |
| Q3 2017 | 2016-11-30 | 3.81 | 0.17 | +4.56% |
| Q2 2017 | 2016-08-31 | 3.63 | 0.57 | +18.67% |
| Q1 2017 | 2016-05-31 | 3.54 | 0.64 | +22.08% |
| Q4 2016 | 2016-02-29 | 3.55 | 0.76 | +27.18% |
| Q3 2016 | 2015-11-30 | 3.64 | 0.87 | +31.49% |
| Q2 2016 | 2015-08-31 | 3.06 | 0.61 | +24.79% |
| Q1 2016 | 2015-05-31 | 2.90 | 0.50 | +21.11% |
| Q4 2015 | 2015-02-28 | 2.79 | 0.51 | +22.19% |
| Q3 2015 | 2014-11-30 | 2.77 | 0.55 | +24.62% |
| Q2 2015 | 2014-08-31 | 2.45 | 0.23 | +10.49% |
| Q1 2015 | 2014-05-31 | 2.39 | 0.21 | +9.50% |
| Q4 2014 | 2014-02-28 | 2.29 | 0.23 | +11.17% |
| Q3 2014 | 2013-11-30 | 2.22 | — | — |
| Q2 2014 | 2013-08-31 | 2.22 | — | — |
| Q1 2014 | 2013-05-31 | 2.18 | 2.06 | +1591.19% |
| Q4 2013 | 2013-02-28 | 2.06 | 0.17 | +8.80% |
| Q1 2013 | 2012-05-31 | 0.13 | 0.12 | +984.89% |
| Q4 2012 | 2012-02-29 | 1.89 | −0.07 | −3.69% |
| Q3 2012 | 2011-11-30 | 0.02 | 0.01 | +61.37% |
| Q2 2012 | 2011-08-31 | 0.02 | 0.01 | +58.25% |
| Q1 2012 | 2011-05-31 | 0.01 | — | — |
| Q4 2011 | 2011-02-28 | 1.96 | 1.89 | +2435.26% |
| Q3 2011 | 2010-11-30 | 0.01 | — | — |
| Q2 2011 | 2010-08-31 | 0.01 | — | — |
| Q4 2010 | 2010-02-28 | 0.08 | — | — |
Carmax debt-to-equity ratio trends
Over the last five fiscal years, Carmax's debt-to-equity ratio decreased from 3.59 to 3.19, a change of −0.41. The latest reported quarter, Q1 2027, shows 3.08.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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