CarMax, Inc. (NYSE:KMX)
CAPS Rating:
Less painful than your standard trip to the used car lot, CarMax offers tens of thousands of used cars at its 100 or so superstores.
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Less painful than your standard trip to the used car lot, CarMax offers tens of thousands of used cars at its 100 or so superstores.
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Extremely overvalued stock! This is a very capital intensive business which is why the free cash flow has been negative almost every year since the company went public. Investors make the mistake of valuing a business based on net income (accounting profit), however, in reality its cash that matters. A company that doesn't earn a lot of cash is not a good investment. This is why airlines and car manufacturers have always been struggling. The capital intensive nature of these businesses never makes them a good long-term investment.