Revenue segments as reported by the company.

Used vehicle sales

Wholesale vehicle sales

Other sales and revenues

Revenue Segments

Gross Profit, Operating Income, and Net Income as a percentage of Revenue

Gross Margin

Operating Margin

Profit Margin

Margins

An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

Finance Income

Selling, general, and administrative expenses

Depreciation and amortization

Interest expense

Other (income) expense

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

Revenue Y/Y

OpEx Y/Y

Growth

Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

CarMax

CarMax, Inc. is a holding company, which engages in the retail of used vehicles and wholesale of vehicle auction operators. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) segments. The CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations. The CAF segment pertains to its finance operation, which offers vehicle financing services to customers buying retail vehicles. The company was founded by Richard L. Sharp and William Austin Ligon in 1993 and is headquartered in Richmond, VA.

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Earnings data Q1 2025

Earnings data Q2 2025

Earnings data Q3 2025

CarMax Q1 2023: Sales Decline, Focus on Efficiency and Market Share

CarMax faces challenges in declining sales and customer conversion due to higher prices and affordability issues. However, the company is focused on leveraging expenses, delivering a customer-centric experience, and gaining market share. Despite the current environment, CarMax believes it is well positioned to emerge stronger and is investing in long-term capabilities.

CarMax (KMX) Q2 2023 Earnings: Sequential Improvement Amid Challenges

CarMax (KMX) reported a decline in total sales but demonstrated strengths in retail and wholesale GPU, customer-centric initiatives, and high self-sufficiency in sourcing inventory. The company faced challenges related to steep depreciation, limited vehicle availability, and pressure on compensation expenses. However, opportunities exist in increasing self-sufficiency, navigating supply challenges, and stabilizing depreciation.

CarMax (KMX) reports sequential improvements driven by omnichannel investments

CarMax (KMX) reports sequential year-over-year improvements in key business components, driven by omnichannel investments. While facing challenges related to inflationary pressures and bonus accruals, the company is focused on leveraging opportunities to improve efficiency and capitalize on increased customer traffic and market share growth.

CarMax adapts to industry challenges, eyes growth opportunities ahead

CarMax navigated challenges in the used auto industry by focusing on cost reductions, maintaining profitability, and adjusting strategies to market conditions.
Despite a decline in sales and earnings, the company remains committed to gaining profitable market share and enhancing operational efficiencies.
Opportunities lie in structural growth segments and market share expansion, while challenges persist in financial performance amid industry headwinds.

CarMax reports Q1 sales decline, focuses on affordability and growth

CarMax's Q1 performance reflected declines in sales and income, offset by improvements in service and cost efficiencies.
Despite challenges in CAF income and market dynamics, the company maintained strong credit approval rates and affordability focus.
Opportunities for growth include expanding used EV sales, optimizing merchandise mix, and leveraging AI technology for market share.
Overall, CarMax's strategic initiatives position it well to navigate challenges and capitalize on emerging opportunities in the automotive market.

CarMax reports resilient Q2 performance amidst challenges and growth opportunities

CarMax's Q2 performance showed resilience with sequential improvements in key metrics, reflecting operational strength and adaptability in a challenging environment.
While facing challenges such as decreased CAF income and affordability issues, CarMax's focus on efficiency, value maximization, and prudent risk management positions it well for future growth.
Opportunities lie in further enhancing inventory sourcing self-sufficiency, optimizing advertising strategies, and leveraging stabilized trends for sustained profitability and success.

CarMax reports Q3 growth amidst market challenges and expansion plans

CarMax's Q3 performance showcased improvements in key metrics, with a focus on efficiency and customer engagement through omnichannel investments.
While facing market challenges and fluctuating trends, the company remains agile in managing staffing levels and costs to drive profitability.
Opportunities lie in enhancing sales efficiency, expanding to new locations, and strategic advertising efforts to navigate market dynamics and drive growth.

CarMax reports solid Q4 performance amidst market challenges and opportunities

CarMax's Q4 performance showcased growth in used unit sales and operational improvements, despite challenges in net earnings and market dynamics.
The company's strengths in affordability focus, consumer demand alignment, and strategic tools position it for continued growth.
Challenges in lending standards, market share dynamics, and consumer sentiment require strategic responses for sustained success.
Opportunities in affordability enhancements, operational efficiency, and market expansion present avenues for future growth and performance optimization.

CarMax Q1 2025 Earnings: Sales Decline, Strategic Growth

CarMax's Q1 2025 earnings reflected a challenging quarter with declines in sales and earnings. However, strategic initiatives such as expanding sourcing capabilities, enhancing lending services, and focusing on electric vehicles provide a pathway for future growth. The company's strong financial management is evident in its share repurchases and debt repayment.

CarMax reports robust Q2 performance amidst industry challenges

CarMax's Q2 2025 performance showcased strong sales, margins, and cost efficiencies, despite challenges in CarMax Auto Finance income and increased SG&A expenses.
The company's strategic strengths lie in its consistent gross profit, omnichannel retail focus, and commitment to efficiency and stakeholder support.
While facing challenges in finance and expenses, CarMax has opportunities to drive growth through online sales, credit strategies, and operational efficiencies, positioning it for continued success.

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Cost of revenue

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Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

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Intangibles

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Cash from other sources

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Free cash flow

The used-car sector is suffering as consumers previously flush with stimulus cash struggle to afford vehicles amid high-interest rates and inflationary pressure.

CarMax Results 'Set Off Alarm Bells.' Wall Street Follows With Stock Price Target Cuts.

CarMax (KMX) now envisions fiscal 2023 capex to be around $450 million, lower than $500 million estimated earlier.

CarMax (KMX) Q3 Earnings Miss on Lower-Than-Expected Sales

CarMax is the market leader in the highly fragmented used car industry, in a strong position to continue to gain market share. The company has averaged net income of roughly $680MM over the last 11 years, showing remarkable consistency and good returns on equity.

CarMax's Short-Term Struggles Offer A Great Long-Term Entry

CarMax, Inc. (NYSE:KMX ) Q3 2023 Earnings Conference Call December 22, 2022 9:00 AM ET Corporate Participants David Lowenstein - Investor Relations Bill Nash - President and Chief Executive Officer Enrique Mayor-Mora - Executive Vice President, Chief Financial Officer Jon Daniels - Senior Vice President, CarMax Auto Finance Operations Conference Call Participants Brian Nagel - Oppenheimer Rajat Gupta - JPMorgan John Healy - Northcoast Research Daniel Imbro - Stephens Inc. John Murphy - Bank of America Seth Basham - Wedbush Securities Sharon Zackfia - William Blair Craig Kennison - Baird Michael Montani - Evercore Chris Bottiglieri - BNP Paribas Chris Pierce - Needham David Whiston - Morningstar Operator Ladies and gentlemen, thank you for standing by. Welcome to the Third Quarter Fiscal year 2023 CarMax Earnings Release Conference Call.

CarMax, Inc. (KMX) Q3 2023 Earnings Call Transcript

Unlike some of its competitors, the used-auto retailer is chasing profitable sales instead of short-term market share gains.

CarMax Practices Defensive Driving

CarMax Inc. said Thursday that it has decided to stop buying back its stock, as it will take a conservative approach to its finances until the used car market and the economic backdrop improves.

CarMax to stop buying back stock until business, economy improves

KMX stock dived Thursday after Q3 earnings deeply undercut analysts' target. Used car prices are falling.

KMX Stock Dives As Used Car Price Bubble Unwinds

CarMax Inc (NYSE: KMX) had a terrible third quarter as inflation and higher interest rates muted a meaningful increase in used cars demand.

CarMax stock tanks to a YTD low following Q3 report: buy the dip?

An 86% drop in profits and 22% slump in used car sales saw CarMax stock slump sharply in early trading. This, as the nation's largest retailer of used cars, with a network of 230 stores, posted its Q3 earnings results in the latest insight into consumers changed attitude toward buying and financing big-ticket items.

CarMax Stock Skids in Q3 as Used Car Sales Sputter

CarMax (KMX) delivered earnings and revenue surprises of -58.62% and 10.09%, respectively, for the quarter ended November 2022. Do the numbers hold clues to what lies ahead for the stock?

CarMax (KMX) Q3 Earnings and Revenues Miss Estimates

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CarMax posted a 21% drop in total unit sales for the period while average selling prices increased.

CarMax plunges 16% as 'vehicle affordability challenges' drive 3rd-quarter earnings and revenue miss

The used car retailer said it faced challenges with vehicle affordability due to inflationary pressures, rising interest rates, and low consumer confidence.

CarMax Stock Tumbles on Earnings Miss. Used Cars Are Becoming Less and Less Affordable.

CarMax Inc on Thursday paused share buybacks after reporting an 86% fall in quarterly profit, hurt by waning demand for used cars as inflation-hit consumers reined in discretionary spending.

CarMax pauses share buyback after quarterly profit plunges 86%

Shares of CarMax Inc. KMX, +2.79% took an 11.9% dive in premarket trading Thursday, after the used vehicle seller reported fiscal third-quarter profit and sales that dropped well below expectations, as inflation and rising interest rates led to “vehicle affordability challenges.” Net income for the quarter to Nov. 30 fell to $37.6 million, or 24 cents a share, from $269.4 million, or $1.63 a share, in the year-ago period, to miss the FactSet consensus for earnings per share of 65 cents.

CarMax stock plunges, as ‘vehicle affordability challenges' lead to big earnings miss

RICHMOND, Va.,--( BUSINESS WIRE )--CarMax, Inc. (NYSE:KMX) today reported results for the third quarter ended November 30, 2022.

Carmax Reports Third Quarter Fiscal 2023 Results

Paychex

At Tuesday's opening bell, stocks were trading lower. In the first quarter hour of trading, the Nasdaq traded down by around 0.8%, the S&P 500 was down by 0.6% and the Dow Jones industrials had retreated about 0.3%.

Earnings Previews: CarMax, Micron, Paychex

As CarMax, Inc (NYSE:KMX) gears up for its third-quarter earnings report, due out before the open on Thursday, Dec. 22, options players are taking note.

Options Bears Blast CarMax Stock Ahead of Earnings

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Although the blues of 2022 negatively impacted most sectors not tethered to the energy or defense sectors, some of the top consumer discretionary stocks to buy absorbed some of the worst hits. Initially, inflation woes ground down consumer sentiment.

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With macro headwinds forcing dramatic fluctuations in the market and the global economy, it's no wonder that some of the top retail stocks to buy now suffered. Indeed, whether we're talking about more inflation or the possible rise of deflation, consumers these days have a greater incentive to zip up their wallets.

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Negative earnings estimate revisions and weak quarterly results paint a less-than-ideal picture for the company's shares in the short term.

Bear of the Day: CarMax, Inc. (KMX)

CarMax, Inc. (NYSE: KMX) is a used car retailer based in the United States.

Shorts Circle Struggling CarMax Stock

Carmax shares were battered following a tough set of 2Q results. Shares are down 55% in the past year and trade at just 9x 2021 EPS. While conditions are likely to remain difficult in the near term, CarMax is a long-term market share gainer with meaningful competitive advantages.

News for CarMax Stock (KMX)