CarMax, Inc. (KMX) Income Statement
KMX FY2026 at a glance
Fiscal year ended February 28, 2026 · U.S. dollarsKMX revenue and net income
Where KMX's revenue goes
FY2026Each bar shows an amount and its share of revenue. KMX kept 1.0% of revenue as net income.
KMX profit margins
KMX growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −1.8% | −4.5% | +6.4% | +5.5% |
| Gross profit | −3.2% | +0.1% | +3.4% | +3.3% |
| Operating income | — | — | — | — |
| Net income | −50.6% | −20.1% | −19.8% | −8.8% |
| EPS (diluted) | −10.6% | −1.8% | −7.9% | −0.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
KMX quarterly EPS vs estimates
CarMax beat the analyst EPS estimate in 6 of the last 8 quarters.
KMX income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.88B | $26.35B | $26.54B | $29.68B | $31.90B | $18.95B | $20.32B | $18.17B | $17.12B | $15.88B |
| Cost of revenue | $23.07B | $23.46B | $23.82B | $26.88B | $28.61B | $16.57B | $17.60B | $15.69B | $14.79B | $13.69B |
| Gross profit | $2.81B | $2.90B | $2.71B | $2.80B | $3.29B | $2.38B | $2.72B | $2.48B | $2.33B | $2.18B |
| Research & development | — | — | $52.9M | $13.2M | $5.7M | — | — | $0 | $0 | $0 |
| Sales, general & admin | $2.53B | $2.51B | $2.35B | $2.55B | $2.38B | $1.75B | $1.79B | $1.77B | $1.62B | $1.49B |
| Total operating expenses | $3.22B | $3.12B | $2.92B | $3.11B | $2.74B | $2.11B | $2.17B | $1.92B | $1.62B | $1.49B |
| Operating income | −$409.8M | −$220.5M | −$205.7M | −$310.9M | $551.6M | $272.9M | $553.5M | $558.2M | $711.8M | $694.8M |
| Interest income | $1.86B | $1.85B | $1.68B | $1.44B | $1.30B | $562.8M | $456.0M | $438.7M | $421.2M | $369.0M |
| Interest expense | $879.6M | $871.1M | $763.5M | $430.7M | $322.9M | $86.2M | $83.0M | $75.8M | $70.7M | $56.4M |
| Income before taxes | $383.4M | $669.4M | $641.6M | $636.8M | $1.49B | $965.3M | $1.16B | $1.11B | $1.06B | $1.01B |
| Income taxes | $136.1M | $168.8M | $162.4M | $152.0M | $341.0M | $218.3M | $272.6M | $270.4M | $399.5M | $379.4M |
| Net income | $247.3M | $500.6M | $479.2M | $484.8M | $1.15B | $746.9M | $888.4M | $842.4M | $664.1M | $627.0M |
| EBITDA | $1.61B | $1.84B | $1.67B | $1.33B | $2.09B | $1.61B | $1.82B | $1.66B | $1.31B | $1.23B |
| EPS (diluted) | $2.87 | $3.21 | $3.03 | $3.03 | $6.96 | $4.33 | $5.33 | $4.79 | $3.70 | $3.31 |
| Gross margin | 10.8% | 11.0% | 10.2% | 9.4% | 10.3% | 12.6% | 13.4% | 13.6% | 13.6% | 13.8% |
| Operating margin | −1.6% | −0.8% | −0.8% | −1.0% | 1.7% | 1.4% | 2.7% | 3.1% | 4.2% | 4.4% |
| Net margin | 1.0% | 1.9% | 1.8% | 1.6% | 3.6% | 3.9% | 4.4% | 4.6% | 3.9% | 3.9% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.88B | $8.01B | $5.95B | $5.79B | $6.59B | $7.55B | $6.00B | $6.22B | $7.01B | $7.11B | $5.63B | $6.15B |
| Cost of revenue | $7.08B | $7.23B | $5.34B | $5.20B | $5.88B | $6.65B | $5.34B | $5.55B | $6.25B | $6.32B | $5.04B | $5.54B |
| Gross profit | $799.5M | $785.2M | $605.3M | $590.0M | $717.7M | $893.6M | $667.9M | $677.6M | $760.5M | $791.9M | $586.2M | $612.9M |
| Research & development | — | — | — | — | — | — | — | — | — | — | $52.9M | — |
| Sales, general & admin | $628.6M | $635.2M | $691.7M | $581.4M | $621.6M | $679.6M | $629.8M | $575.8M | $629.6M | $657.2M | $597.8M | $576.2M |
| Total operating expenses | $563.1M | $771.6M | $855.0M | $723.7M | $835.5M | $851.3M | $767.4M | $712.9M | $810.4M | $804.5M | $734.7M | $709.2M |
| Operating income | $236.3M | $13.6M | −$249.7M | −$133.7M | −$117.8M | $42.3M | −$99.6M | −$35.3M | −$49.9M | −$12.6M | −$148.5M | −$96.4M |
| Interest income | — | $460.9M | $441.0M | $448.0M | $489.8M | $485.4M | $467.7M | $469.2M | $464.5M | $452.5M | $433.1M | $426.9M |
| Interest expense | $31.8M | $218.0M | $213.0M | $214.4M | $227.7M | $224.6M | $218.1M | $218.6M | $220.7M | $213.7M | $31.4M | $31.3M |
| Income before taxes | $223.1M | $258.6M | −$110.7M | $83.9M | $127.1M | $283.1M | $118.4M | $166.5M | $177.8M | $206.6M | $65.5M | $110.6M |
| Income taxes | $57.8M | $72.9M | $10.0M | $21.7M | $31.7M | $72.7M | $28.5M | $41.0M | $45.0M | $54.2M | $15.2M | $28.6M |
| Net income | $165.3M | $185.6M | −$120.7M | $62.2M | $95.4M | $210.4M | $89.9M | $125.4M | $132.8M | $152.4M | $50.3M | $82.0M |
| EBITDA | $350.1M | $106.5M | $196.0M | $386.8M | $438.7M | $587.5M | $414.0M | $460.5M | $471.3M | $489.5M | $337.7M | $378.6M |
| EPS (diluted) | $1.16 | $1.31 | $0.34 | $0.51 | $0.64 | $1.38 | $0.58 | $0.81 | $0.85 | $0.97 | $0.32 | $0.52 |
| Gross margin | 10.1% | 9.8% | 10.2% | 10.2% | 10.9% | 11.8% | 11.1% | 10.9% | 10.8% | 11.1% | 10.4% | 10.0% |
| Operating margin | 3.0% | 0.2% | −4.2% | −2.3% | −1.8% | 0.6% | −1.7% | −0.6% | −0.7% | −0.2% | −2.6% | −1.6% |
| Net margin | 2.1% | 2.3% | −2.0% | 1.1% | 1.4% | 2.8% | 1.5% | 2.0% | 1.9% | 2.1% | 0.9% | 1.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in KMX's financial statements (latest annual report filed April 15, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
KMX financial results
In fiscal year 2026 (ended February 28, 2026), CarMax reported revenue of $25.9 billion, down 1.8% from the year before. It had net income of $247.3 million (down 50.6%), a net profit margin of 1.0%. Diluted earnings per share came to $2.87. Over five years revenue grew at an average rate of 6.4% a year.
See the KMX stock overview for the latest quote and news, or the KMX chart for price history and technical indicators.
KMX income statement FAQ
What is CarMax's annual revenue?
CarMax reported total revenue of $25.9 billion for fiscal year 2026, which ended on February 28, 2026. That was down 1.8% from $26.4 billion the previous year.
Is CarMax profitable?
Yes. CarMax reported net income of $247.3 million in fiscal 2026, a net profit margin of 1.0%; its operating margin was −1.6%.
What is CarMax's gross margin?
CarMax's gross margin was 10.8% in fiscal 2026: for every $100 of revenue, CarMax kept $11 after the direct cost of its products and services.
How fast is CarMax growing?
Revenue grew 6.4% a year on average over the last five fiscal years, from $19.0 billion to $25.9 billion.
What are CarMax's earnings per share?
CarMax earned $2.87 per diluted share in fiscal 2026, compared with $3.21 a year earlier.
When does CarMax's fiscal year end?
CarMax's fiscal year ends in February. The latest annual report covers the year ended February 28, 2026 and was filed on April 15, 2026.