Carmax (KMX) Gross Margin (2009 - 2026)

Carmax has reported Gross Margin for 18 years, with the latest figure at 10.66% in Q2 2026.

• On a quarterly basis, Gross Margin fell 118.0% year-over-year to 10.66% in Q2 2026; TTM through May 2026 was 10.5%, a 70.0% decrease from a year earlier, with the FY2026 full-year figure at 10.84%, down 15.0% from the prior year.
• Gross Margin was 10.66% for Q2 2026 at Carmax, up from 10.18% in the prior quarter.
• The five-year high for Gross Margin was 11.84% in Q2 2025, with the low at 8.86% in Q4 2022.
• Average Gross Margin over 5 years is 10.33%, with a median of 10.53% recorded in 2024.
• The sharpest annual moves came in 2022 and 2023: Gross Margin slumped 317 bps in 2022, then jumped 143 bps in 2023.
• Over 5 years, Gross Margin stood at 8.86% in 2022, then grew by 12 bps to 9.97% in 2023, then increased by 9 bps to 10.89% in 2024, then retreated by 6 bps to 10.18% in 2025, then increased by 5 bps to 10.66% in 2026.
• The last three Gross Margin figures came in at 10.66% (Q2 2026), 10.18% (Q1 2026), and 10.18% (Q4 2025), per Business Quant data.