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what it is
S Car-Mart sells older used cars and finances them for buyers who need cheap transportation.
how it gets paid
Last year S Car-Mart made $1.1B in revenue. Used vehicle sales was the main engine at $770M, or 70% of sales.
why growth slowed
Revenue fell 1.3% last year. The $12.67 loss matters because it swamps the $785M revenue print.
what just happened
Revenue hit $785M, but EPS was -$12.67.
At a glance
C+ balance sheet — struggling to keep the lights on
5/100 earnings predictability — expect surprises
12.1x trailing p/e — the market's not buying it — or you found a deal
3.8% return on capital — nothing to write home about
$2.33 fy2024 eps est
xvary composite: 27/100 — weak
What they do
S Car-Mart sells older used cars and finances them for buyers who need cheap transportation.
You are buying 154 dealerships across 12 states. That gives you local reach in a business built on basic transportation. The other edge is financing. Cars leave the lot, but the loan stays, and that keeps cash moving.
How they make money
$1.1B
annual revenue · their business grew -1.3% last year
Used vehicle sales
$770M
+1%
Retail finance income
$220M
+2%
Service and reconditioning
$70M
flat
Ancillary fees and other
$40M
flat
The products that matter
used car retailing
Used vehicle sales
$1.0B · 90% of revenue
It is almost the entire top line, but last quarter still produced just $286.8M in revenue and a $(9.25) EPS loss. Selling cars is not enough if the financing economics break.
top-line driver
customer loan book
In-house financing
$892.2M receivables
This is the part that matters most. The company carries $892.2M in customer receivables, so every underwriting mistake stays on the balance sheet.
equity story
funding structure
ABS financing
discussed on Q3 FY26 call
Management highlighted its first asset-backed securitization with a residual cash flow structure. In human terms: it is looking for new ways to fund the receivables machine.
watch closely
Key numbers
$1.1B
annual revenue
This is the size of the business. You are looking at a small stock with a billion-dollar sales base.
$963M
long-term debt
This is the burden. The company owes more than the market value of the stock.
7.3%
operating margin
This is the slice left after running the business. Thin margins leave little room for surprises.
1.5
beta
This means the stock moves about 50% harder than the market. Your ride will be bumpy.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 10 / 100
- long-term debt $963M (90% of capital)
C+ — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for CRMT right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $785M, but EPS was -$12.67.
Annual revenue was $1.1B, down 1.3% vs. prior year. The latest quarter looked huge on revenue, up 253% vs. prior year, but earnings stayed deeply negative.
$785M
revenue
-$12.67
eps
n/a
n/a
the number that mattered
The $12.67 loss matters because it swamps the $785M revenue print.
source: company earnings report, 2026
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What could go wrong
the #1 risk is subprime credit deterioration in the $892.2M receivables book.
high
subprime credit deterioration
The model works only if customers keep making payments. The company already linked its Q3 FY26 loss to higher credit costs, and the receivables book is $892.2M. When stressed borrowers miss payments, losses do not stay contained.
This risk sits on the core asset base, not the edge of the business.
high
heavy leverage and funding dependence
CRMT carries $963M in long-term debt against a ~$112M market cap and a C+ balance sheet grade. That leaves very little room for funding costs to move the wrong way.
Debt is about 8.6x equity market value. Equity holders are not first in line here.
med
earnings volatility and thin visibility
Earnings predictability is 5 / 100 and price stability is 10 / 100. In plain English: if you want steady quarterly numbers, you own the wrong stock.
A business with 3.8% return on capital does not have much cushion for surprises.
These risks sit on top of $892.2M in receivables, $963M in long-term debt, and a stock that swung from $13 to $63 in the last 52 weeks.
source: institutional data · regulatory filings · risk analysis
Pay attention to
the metric
quarterly credit costs versus revenue
Q3 FY26 still generated $286.8M in revenue and still lost $(9.25) per share. That gap tells you the lending side overwhelmed the selling side.
the risk
collections on the $892.2M receivables book
This is the balance-sheet number that matters most. If collections weaken further, losses can persist even if vehicle sales stabilize.
the calendar
next earnings after the mar 12, 2026 report
You want to see whether the last quarter was a one-off credit shock or the start of a longer collections problem.
the trend
ABS funding becoming a bigger part of the model
Management discussed a first securitization with residual cash flow structure. If that grows, market funding conditions become more important to your thesis.
Analyst rankings
earnings predictability
5 / 100
in human-speak, analysts do not trust this business to produce smooth quarterly results.
risk rank
5
Safer than roughly 5% of stocks. That puts CRMT near the wrong end of the distribution.
price stability
10 / 100
A 52-week range of $13–$63 explains the score. This is not a calm chart.
source: institutional data
Institutional activity
institutional ownership data for CRMT is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$25
current price
n/a
target midpoint · n/a from current
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