KMX Stock - CarMax, Inc.
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Financial Statements
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $28.21B | $28.21B | $31.13B | $33.20B | $20.09B |
| Gross Profit | $3.22B | $3.04B | $3.24B | $3.88B | $2.94B |
| Gross Margin | 11.4% | 10.8% | 10.4% | 11.7% | 14.6% |
| Operating Income | $788.92M | $756.07M | $747.80M | $1.55B | $1.00B |
| Net Income | $500.56M | $479.20M | $484.76M | $1.15B | $746.92M |
| Net Margin | 1.8% | 1.7% | 1.6% | 3.5% | 3.7% |
| EPS | $3.22 | $3.03 | $3.05 | $7.09 | $4.58 |
CarMax, Inc., together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions. The company also provides reconditioning and vehicle repair services; and financing alternatives for retail customers across a range of credit spectrum through its CarMax Auto Finance and arrangements with various financial institutions. As of February 28, 2022, it operated approximately 230 used car stores. CarMax, Inc. was founded in 1993 and is based in Richmond, Virginia.
Visit WebsiteRating Distribution
Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| November 12th 2025 | Barclays | Initiation | Underweight | $28 |
| November 10th 2025 | Morgan Stanley | Downgrade | Equal Weight | $35 |
| November 7th 2025 | RBC Capital Mkts | Downgrade | Sector Perform | - |
| November 7th 2025 | Needham | Downgrade | Hold | - |
| November 6th 2025 | The Benchmark Company | Downgrade | Hold | - |
| November 6th 2025 | JP Morgan | Downgrade | Underweight | $30 |
| November 6th 2025 | William Blair | Downgrade | Market Perform | - |
| October 7th 2025 | Stephens | Downgrade | Equal Weight | $42 |
| September 29th 2025 | Seaport Research Partners | Downgrade | Neutral | - |
| September 26th 2025 | Oppenheimer | Downgrade | Perform | - |
| September 26th 2025 | Evercore ISI | Downgrade | In-line | $52 |
| September 25th 2025 | Wedbush | Downgrade | Neutral | - |
| August 6th 2025 | JP Morgan | Upgrade | Neutral | $58 |
| July 17th 2025 | The Benchmark Company | Initiation | Buy | $75 |
| July 1st 2025 | Morgan Stanley | Resumed | Overweight | $80 |
Earnings History & Surprises
KMXEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 9, 2026 | $0.37 | — | — | — |
Q4 2025 | Dec 18, 2025 | $0.31 | $0.51 | +66.4% | ✓ BEAT |
Q3 2025 | Sep 25, 2025 | $1.04 | $0.64 | -38.5% | ✗ MISS |
Q2 2025 | Jun 20, 2025 | $1.16 | $1.38 | +19.0% | ✓ BEAT |
Q2 2025 | Apr 10, 2025 | $0.66 | $0.64 | -3.0% | ✗ MISS |
Q4 2024 | Dec 19, 2024 | $0.59 | $0.81 | +37.3% | ✓ BEAT |
Q3 2024 | Sep 26, 2024 | $0.86 | $0.85 | -1.2% | ✗ MISS |
Q2 2024 | Jun 21, 2024 | $0.96 | $0.97 | +1.0% | ✓ BEAT |
Q2 2024 | Apr 11, 2024 | $0.46 | $0.32 | -30.5% | ✗ MISS |
Q4 2023 | Dec 21, 2023 | $0.43 | $0.52 | +20.9% | ✓ BEAT |
Q3 2023 | Sep 28, 2023 | $0.78 | $0.75 | -3.8% | ✗ MISS |
Q2 2023 | Jun 23, 2023 | $0.79 | $1.16 | +46.8% | ✓ BEAT |
Q2 2023 | Apr 11, 2023 | $0.24 | $0.44 | +83.3% | ✓ BEAT |
Q4 2022 | Dec 22, 2022 | $0.70 | $0.24 | -65.7% | ✗ MISS |
Q3 2022 | Sep 29, 2022 | $1.39 | $0.79 | -43.2% | ✗ MISS |
Q2 2022 | Jun 24, 2022 | $1.49 | $1.56 | +4.7% | ✓ BEAT |
Q2 2022 | Apr 12, 2022 | $1.25 | $0.98 | -21.6% | ✗ MISS |
Q4 2021 | Dec 22, 2021 | $1.44 | $1.63 | +13.2% | ✓ BEAT |
Q3 2021 | Sep 30, 2021 | $1.90 | $1.72 | -9.5% | ✗ MISS |
Q2 2021 | Jun 25, 2021 | $1.63 | $2.63 | +61.3% | ✓ BEAT |
Latest News
Barclays Maintains Underweight on CarMax, Lowers Price Target to $24
📉 NegativeTruist Securities Maintains Hold on CarMax, Raises Price Target to $37
➖ NeutralB of A Securities Maintains Underperform on CarMax, Raises Price Target to $31
📉 NegativeRBC Capital Maintains Sector Perform on CarMax, Raises Price Target to $37
➖ NeutralJP Morgan Maintains Underweight on CarMax, Lowers Price Target to $28
📉 NegativeStephens & Co. Maintains Equal-Weight on CarMax, Lowers Price Target to $36
📉 NegativeWedbush Maintains Neutral on CarMax, Lowers Price Target to $36
➖ NeutralMizuho Maintains Neutral on CarMax, Lowers Price Target to $36
➖ NeutralKMX stock has given up its prior loss. CarMax shares were trading lower.
➖ NeutralCarMax shares are trading lower. The company reported Q3 financial results.
📉 NegativeUPDATE: CarMax Q3 Adj. EPS $0.51 Beats $0.38 Estimate, Sales $5.794B Beat $5.678B Estimate
📈 PositiveCarMax Anticipates Lowering Retail Used Unit Margins In Q4
📉 NegativeCarMax Q3 EPS $0.43 Beats $0.39 Estimate, Sales $5.794B Beat $5.678B Estimate
📈 PositiveShares of retail companies are trading higher amid overall market strength after the Fed cut rates by 25 basis points.
📈 PositiveEvercore ISI Group Maintains In-Line on CarMax, Raises Price Target to $37
➖ NeutralWedbush Reiterates Neutral on CarMax, Maintains $40 Price Target
➖ NeutralBarclays Initiates Coverage On CarMax with Underweight Rating, Announces Price Target of $28
📉 NegativeMorgan Stanley Downgrades CarMax to Equal-Weight, Lowers Price Target to $35
📉 NegativeRBC Capital Downgrades CarMax to Sector Perform, Lowers Price Target to $34
📉 NegativeTruist Securities Maintains Hold on CarMax, Lowers Price Target to $35
📉 NegativeFrequently Asked Questions about KMX
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