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NYSE · Consumer Discretionary

CARMAX INC (KMX)

As-reported financials and SEC filings for CARMAX INC. The latest annual period is FY2026. The latest reported quarter is Q1 FY2027. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About CARMAX INC

CarMax Inc operates as the largest retailer of used vehicles in the United States, selling a wide range of quality used cars at fixed prices through both physical stores and online platforms. The company also runs wholesale vehicle auctions and provides auto financing services to customers purchasing vehicles from CarMax. Its services include vehicle sales, trade-in appraisals, financing options, extended protection plans, and vehicle repair services, serving retail customers and licensed dealers nationwide.

Snapshot

Revenue
$25.88B
Revenue growth (YoY)
-1.8%
Net income
$247.3M
Diluted EPS
$1.68
Gross margin
10.8%
Operating margin
Net margin
1.0%
FCF margin
4.8%
ROE
4.2%
net income / fiscal-year-end equity
P/E
39.7×
trailing when available, otherwise FY EPS
Market cap
Long-term debt / equity
2.93×
non-current term debt only

Fundamentals are from SEC filings for FY2026, the latest annual period (ended February 28, 2026). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Carmax

  • Revenue fell 1.8% to $25.9B in FY2026, after a 0.7% decline the year before.
  • Most recent quarter Q1 FY2027: revenue $8.0B, up 6.2% from Q1 FY2026.
  • Free cash flow was $1.2B in FY2026, 4.8% of revenue.
  • Net income fell 50.6% to $247M in FY2026.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Carmax’s fundamentals sit among the 403 Consumer Discretionary companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin10.8%
7th percentile of 275
Net margin1.0%
39th percentile of 377
FCF margin4.8%
56th percentile of 351
Revenue growth (YoY)-1.8%
31st percentile of 394
ROE4.2%
42nd percentile of 343
P/E39.7×
86th percentile of 249
Long-term debt / equity2.93×
90th percentile of 234
Short interest7.23d
81st percentile of 401

Carmax’s gross margin of 10.8% ranks in the 7th percentile of the 275 Consumer Discretionary companies reporting it. Carmax’s long-term debt to equity of 2.93 ranks in the 90th percentile of the 234 Consumer Discretionary companies reporting it. Carmax’s P/E of 39.7 ranks in the 86th percentile of the 249 peers with a meaningful P/E.

6 reported insider purchases (code P) totaling $1.3M in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+7 quant / multi-strat
Initiated / added
4
1 new, 3 added
Reduced / exited
6
5 trimmed, 1 exited
Combined position
$1.18B
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$349.0M6.6MReduced
Two Sigma InvestmentsquantQ2 2026$308.5M5.8MAdded
D. E. ShawquantQ2 2026$173.5M3.3MAdded
Starboard ValueQ2 2026$169.6M3.2MReduced
Millennium ManagementquantQ2 2026$100.4M1.9MAdded
Renaissance TechnologiesquantQ2 2026$45.7M864.4KReduced
Point72 Asset ManagementquantQ2 2026$18.0M340.4KNew
Gotham Asset ManagementQ2 2026$11.5M218.1KReduced
Markel GroupQ2 2026$7.2M136.5KHeld
Citadel AdvisorsquantQ2 2026$1.1M21.7KReduced

No longer held by: Bridgewater Associates (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4. Multiple insiders have bought recently (a cluster buy).

Buys (90d)
6
5 insiders
Bought (90d)
$1.3M
code P value
Sells (90d)
0
Reported activity
Cluster buy
≥2 insiders buying
Trade dateInsiderTypeSharesPriceValue
2026-06-25
filed 2026-06-26
Chawla SonaDirectorBuy2.0K$53.39$107K
2026-06-25
filed 2026-06-26
Shinder MarcellaDirectorBuy574$52.01$30K
2026-06-24
filed 2026-06-26
ONeil Mark FDirectorBuy4.8K$52.36$251K
2026-06-24
filed 2026-06-26
ONeil Mark FDirectorBuy4.8K$52.36$251K
2026-06-22
filed 2026-06-24
Barr KeithPresident and CEOBuy9.4K$53.01$498K
2026-06-22
filed 2026-06-24
Bensen Peter JDirectorBuy2.5K$52.20$131K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
12.6M
settled 2026-08-14
Change vs prior
-8.6%
vs previous settlement
Days to cover
7.23
at avg daily volume
Avg daily volume
1.7M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1412.6M-8.6%7.23
2026-07-3113.8M+19.7%4.83
2026-07-1511.5M-8.5%4.08
2026-06-3012.6M-15.6%2.52
2026-06-1514.9M-1.4%4.37
2026-05-2915.1M-11.5%4.98
2026-05-1517.1M+13.9%6.44
2026-04-3015.0M+5.3%4.90

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2026FY2025FY2024FY2023FY2022
Revenue$25.88B$26.35B$26.54B$29.68B$31.90B
Gross profit$2.81B$2.90B$2.71B$2.80B$3.29B
Operating income
Net income$247.3M$500.6M$479.2M$484.8M$1.15B
Diluted EPS$1.68$3.21$3.02$3.03$6.97

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2026FY2025FY2024FY2023FY2022
Operating cash flow$1.78B$624.4M$458.6M$1.28B$-2.55B
Capital expenditure$541.0M$467.9M$465.3M$422.7M$308.5M
Free cash flow$1.24B$156.5M$-6.7M$860.6M$-2.86B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2027$8.01B6.2%$185.6M$1.31
Q4 FY2026$5.95B-1.0%$-120.7M$-0.85
Q3 FY2026$5.79B-6.9%$62.2M$0.43
Q2 FY2026$6.59B-6.0%$95.4M$0.64
Q1 FY2026$7.55B6.1%$210.4M$1.38
Q4 FY2025$6.00B6.7%$89.9M$0.58
Q3 FY2025$6.22B1.2%$125.4M$0.81
Q2 FY2025$7.01B-0.9%$132.8M$0.85

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorConsumer Discretionary
SIC industryRetail-Auto Dealers & Gasoline Stations
Latest annual periodFY2026 (ended February 28, 2026)
Latest reported quarterQ1 FY2027 (ended May 31, 2026)
Oldest indexed filing2014
SEC CIK1170010

Selected SEC filings

10-K2026-04-15
View on EDGAR →
10-Q2026-06-24
View on EDGAR →
8-K2026-07-31
View on EDGAR →
8-K2026-06-24
View on EDGAR →
8-K2026-06-17
View on EDGAR →
8-K2026-06-08
View on EDGAR →

Largest Consumer Discretionary peers

All Consumer Discretionary companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.