Carmax (KMX) Gross Margin (2009 - 2026)
Carmax (KMX) recorded quarterly Gross Margin of 10.18% in Q1 2026, little changed quarter-over-quarter from 10.18% in Q4 2025, and down 95.0% on a YoY basis from 203.59% in Q1 2025.
Carmax (KMX) Gross Margin (2009 - 2026) Analysis & Trends
Carmax's Gross Margin history runs 18 years deep, the most recent figure standing at 10.18% for Q1 2026.
- In Q1 2026, Gross Margin fell 95.0% year-over-year to 10.18%; the TTM figure through Feb 2026 stood at 10.84% (down 15.0% YoY), while the FY2026 annual figure was 10.84%, down 15.0% from the prior year.
- Gross Margin was 10.18% for Q1 2026 at Carmax, roughly flat from 10.18% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 11.84% in Q2 2025 to a low of 8.86% in Q4 2022.
- Historically, Gross Margin has averaged 10.31% across 5 years, with a median of 10.42% in 2024.
- The sharpest annual moves came in 2022 and 2023: Gross Margin tumbled 317 bps in 2022, then soared 143 bps in 2023.
- A 5-year view of Gross Margin shows it stood at 8.86% in 2022, then climbed by 12 bps to 9.97% in 2023, then grew by 9 bps to 10.89% in 2024, then fell by 6 bps to 10.18% in 2025, then retreated by 0 bps to 10.18% in 2026.
- The last three Gross Margin figures came in at 10.18% (Q1 2026), 10.18% (Q4 2025), and 10.88% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Uxin | 18.05 Bn | 18.09 Bn | 11.57 Mn | 6.75% |
| 2 | Carvana | 9.49 Bn | 7.89 Bn | 1.27 Bn | 19.76% |
| 3 | Carmax | 6.94 Bn | 6.35 Bn | 605.26 Mn | 10.18% |
| 4 | Lithia Motors | 6.76 Bn | 6.78 Bn | 1.42 Bn | 15.33% |
| 5 | Autonation | 6.51 Bn | 6.45 Bn | 1.21 Bn | 18.48% |
| 6 | Rush Enterprises Inc \Tx\ | 5.19 Bn | 4.97 Bn | 343.80 Mn | 21.60% |
| 7 | Valvoline | 4.57 Bn | 4.48 Bn | 187.00 Mn | 37.12% |
| 8 | Openlane | 3.88 Bn | 3.84 Bn | 256.20 Mn | 48.53% |
| 9 | Group 1 Automotive | 3.69 Bn | 3.65 Bn | 877.90 Mn | 16.24% |
| 10 | Asbury Automotive | 3.63 Bn | 3.60 Bn | 726.90 Mn | 17.67% |
Historic Data
Download Data| Date | Value |
|---|---|
| Feb 28, 2026 | 10.18% |
| Nov 30, 2025 | 10.18% |
| Aug 31, 2025 | 10.88% |
| May 31, 2025 | 11.84% |
| Feb 28, 2025 | 11.13% |
| Nov 30, 2024 | 10.89% |
| Aug 31, 2024 | 10.84% |
| May 31, 2024 | 11.13% |
| Feb 29, 2024 | 10.42% |
| Nov 30, 2023 | 9.97% |
| Aug 31, 2023 | 9.85% |
| May 31, 2023 | 10.63% |
| Feb 28, 2023 | 10.68% |
| Nov 30, 2022 | 8.86% |
| Aug 31, 2022 | 9.05% |
| May 31, 2022 | 9.40% |
| Feb 28, 2022 | 9.25% |
| Nov 30, 2021 | 9.81% |
| Aug 31, 2021 | 10.21% |
| May 31, 2021 | 12.01% |