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CarMax KMX Gross margin

Gross margin at other companies

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AutoNationAN
18%+0.1pp
LAD
Lithia MotorsLAD
15.2%-0.1pp
Group 1 Automotive logo
Group 1 AutomotiveGPI
16.1%-0.1pp
Asbury Automotive Group logo
Asbury Automotive GroupABG
17.1%+0.1pp
Carvana logo
CarvanaCVNA
20.1%-1.5pp
Penske Automotive Group logo
Penske Automotive GroupPAG
18.3%+0.1pp

Other financials

Income statement

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Revenue$8.0B+6.2%
Gross profit$854.4M-4.4%
Net income$185.6M-11.8%
EPS (diluted)$1.31-5.1%

Balance sheet

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Cash & equivalents$132.2M-49.7%
Total debt$2.8B+20.0%
Total assets$26.6B-2.8%

Cash flow

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Operating cash flow$17.6M-94.1%
CapEx$103.3M-24.4%
Free cash flow-$85.7M-153%

Valuation

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Market cap$7.61B-34.0%
Enterprise value$10.26B-22.9%
P/E13.8×-17.7×
P/S0.3×-0.1×

Profitability

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Net margin1.8%0.0pp
FCF margin7.5%—

Returns & leverage

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Current ratio2.7×+0.3×

Where this comes from

Calculated from CarMax’s reported figures.

gross profit/total revenue=10.5%

Based on trailing twelve months.

The official record: CarMax’s 10-Q, filed June 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is CarMax's gross margin?
CarMax (KMX) reported gross margin of 10.5% in Q1 2026.
How has CarMax's gross margin changed year-over-year?
CarMax's gross margin decreased by 6.2% year-over-year, from 11.2% to 10.5%.
What is the long-term trend for CarMax's gross margin?
Over 5 years (2021 to 2026), CarMax's gross margin has grown at a -2.9% compound annual growth rate (CAGR), from 12.6% to 10.8%.
What does gross margin mean?
Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.