CARMAX INC Earnings Per Share Disclosure
| Years Ended February 28 or 29 | |||||||||||||||||
| (In thousands except per share data) | 2026 | 2025 | 2024 | ||||||||||||||
| Net earnings | $ | 247,290 | $ | 500,556 | $ | 479,204 | |||||||||||
| Weighted average common shares outstanding | 147,258 | 155,330 | 158,216 | ||||||||||||||
| Dilutive potential common shares: | |||||||||||||||||
| Stock options | 7 | 372 | 272 | ||||||||||||||
| Stock-settled restricted stock units | 348 | 359 | 219 | ||||||||||||||
| Weighted average common shares and dilutive | |||||||||||||||||
| potential common shares | 147,613 | 156,061 | 158,707 | ||||||||||||||
| Basic net earnings per share | $ | 1.68 | $ | 3.22 | $ | 3.03 | |||||||||||
| Diluted net earnings per share | $ | 1.68 | $ | 3.21 | $ | 3.02 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Apr 15, 2026 | Showing above |
| 2025 | Apr 11, 2025 | |
| 2024 | Apr 15, 2024 | |
| 2023 | Apr 13, 2023 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.