AMERICAS CARMART INC CRMT
America's Car-Mart, Inc., a Texas corporation (the "Company"), is one of the largest publicly held automotive retailers in the United States focused exclusively on the "Integrated Auto Sales and Finance" segment of the used car market. References to the Company include the Company's consolidated subsidiaries. The Company's operations are principally conducted through its two operating subsidiaries, America's Car Mart, Inc., an Arkansas corporation ("Car-Mart of Arkansas"), and Colonial Auto Finance, Inc., an Arkansas corporation ("Colonial"). Collectively, Car-Mart of Arkansas and Colonial are referred to herein as "Car-Mart." The Company primarily sells older model used vehicles and provides financing for substantially all of its customers. Many of the Company's customers have limited financial resources and would not qualify for conventional financing as a result of limited credit histories or past credit problems. As of April 30, 2026, the Company operated 94 dealerships located primarily in small cities throughout the South-Central United States.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.03B | $1.15B | $1.16B | $1.20B | $1.04B | $799.1M | $653.0M | $586.5M | $537.5M | $520.1M |
| Cost of revenue | $664.0M | $726.1M | $758.5M | $800.8M | $658.6M | $479.2M | $388.5M | $343.9M | $315.3M | $304.9M |
| Gross profit | $363.8M | $420.2M | $402.3M | $403.4M | $380.1M | $320.0M | $264.5M | $242.6M | $222.3M | $215.2M |
| SG&A | $208.1M | $188.9M | $179.4M | $176.7M | $156.1M | $130.9M | $117.8M | $107.2M | $99.0M | $91.9M |
| Total operating expenses | $1.39B | $1.37B | $1.43B | $1.37B | $1.07B | $774.3M | $680.3M | $609.3M | $573.3M | $555.5M |
| Interest expense | — | — | $65.3M | $38.3M | $10.9M | $6.8M | $8.1M | $7.9M | $5.6M | $4.1M |
| Pre-tax income | -$108.0M | $22.8M | -$40.1M | $25.8M | $122.6M | $135.3M | $64.4M | $59.9M | $38.9M | $32.2M |
| Income tax | $31.1M | $4.9M | $8.7M | $5.4M | $27.6M | $30.5M | $13.0M | $12.2M | $2.4M | $12.0M |
| Net income | -$139.2M | $17.9M | -$31.4M | $20.4M | $95.0M | $104.8M | $51.3M | $47.6M | $36.5M | $20.2M |
| EPS, basic | -16.79 | 2.38 | -4.92 | 3.20 | 14.59 | 15.81 | 7.74 | 6.99 | 5.04 | 2.57 |
| EPS, diluted | -16.79 | 2.33 | -4.92 | 3.11 | 13.92 | 15.05 | 7.39 | 6.73 | 4.90 | 2.49 |
| Shares, diluted (wtd. avg.) | $8.3M | $7.7M | $6.4M | $6.6M | $6.8M | $7.0M | $6.9M | $7.1M | $7.4M | $8.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $47.0M | $9.8M | $5.5M | $9.8M | $6.9M | $2.9M | $59.6M | $1.8M | $1.0M | $434.0K |
| Inventory | $54.1M | $112.2M | $107.5M | $109.3M | $115.3M | $82.3M | $36.4M | $37.5M | $33.6M | $30.1M |
| Property, plant and equipment | $42.9M | $56.9M | $60.4M | $61.7M | $45.4M | $34.7M | $30.1M | $28.5M | $28.6M | $30.1M |
| Goodwill | $22.8M | $22.8M | $14.4M | $11.7M | $8.6M | $7.3M | $6.8M | $355.0K | $355.0K | $355.0K |
| Total assets | $1.42B | $1.61B | $1.48B | $1.41B | $1.15B | $822.2M | $667.3M | $492.5M | $455.6M | $424.3M |
| Long-term debt | — | — | — | — | — | — | — | $194.0K | — | — |
| Total liabilities | $970.8M | $1.04B | $1.01B | $915.8M | $677.8M | $415.3M | $364.2M | $231.6M | $224.6M | $190.8M |
| Retained earnings | $533.1M | $672.3M | $654.4M | $685.8M | $665.4M | $565.0M | $460.9M | $409.6M | $362.0M | $325.5M |
| Total equity | $445.6M | $569.4M | $470.8M | $498.5M | $476.5M | $412.0M | $307.5M | $260.5M | $230.5M | $233.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $65.0M | -$48.8M | -$73.9M | -$135.7M | -$119.2M | -$53.8M | $20.9M | $24.9M | $10.0M | $7.3M |
| Depreciation and amortisation | $8.2M | $7.6M | $6.9M | $5.6M | $4.0M | $3.7M | $3.8M | $4.0M | $4.2M | $4.3M |
| Stock-based compensation | $3.7M | $4.7M | $4.2M | $5.3M | $5.5M | $6.0M | $4.7M | $3.7M | $1.6M | $1.3M |
| Capital expenditure | $1.8M | $3.9M | $6.1M | $22.1M | $15.8M | $9.0M | $5.4M | $4.0M | $2.3M | $1.6M |
| Investing cash flow | -$1.5M | -$11.4M | -$10.6M | -$27.6M | -$17.4M | -$8.3M | -$9.9M | -$3.9M | -$1.7M | -$655.0K |
| Financing cash flow | -$56.3M | $90.2M | $111.0M | $188.7M | $176.2M | $5.4M | $46.8M | -$20.3M | -$7.7M | -$6.8M |
| Dividends paid | — | $40.0K | $40.0K | $40.0K | $40.0K | $40.0K | $40.0K | $40.0K | $40.0K | $40.0K |
| Buybacks | $297.0K | $434.0K | $365.0K | $5.2M | $34.7M | $10.6M | $16.0M | $26.6M | $42.3M | $20.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-057070.
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