Carmax (KMX) Gross Margin (2009 - 2026)
Carmax (KMX) posted quarterly Gross Margin of 10.66% for Q2 2026, down 118.0% year-over-year from 59.23% in Q2 2025, and up 4.74% quarter-over-quarter from 10.18% in Q1 2026.
Carmax (KMX) Gross Margin (2009 - 2026) Analysis & Trends
Carmax's Gross Margin history runs 18 years deep, the most recent figure standing at 10.66% for Q2 2026.
- In Q2 2026, Gross Margin fell 118.0% year-over-year to 10.66%; the TTM figure through May 2026 stood at 10.5% (down 70.0% YoY), while the FY2026 annual figure was 10.84%, down 15.0% from the prior year.
- Gross Margin for Q2 2026 stood at 10.66%, 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.
- The 5-year median for Gross Margin is 10.53% (2024), against an average of 10.33%.
- The sharpest annual moves came in 2022 and 2023: Gross Margin slumped 317 bps in 2022, then surged 143 bps in 2023.
- Carmax's Gross Margin stood at 8.86% in 2022, then advanced by 12 bps to 9.97% in 2023, then climbed by 9 bps to 10.89% in 2024, then declined by 6 bps to 10.18% in 2025, then climbed by 5 bps to 10.66% in 2026.
- Business Quant data shows KMX's Gross Margin at 10.66% in Q2 2026, 10.18% in Q1 2026, and 10.18% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Uxin | 79.73 Bn | 79.73 Bn | - | - |
| 2 | Carvana | 51.31 Bn | 48.57 Bn | 1.38 Bn | 18.76% |
| 3 | Penske Automotive | 14.31 Bn | 14.24 Bn | 1.36 Bn | 15.94% |
| 4 | Lithia Motors | 8.61 Bn | 8.25 Bn | 1.50 Bn | 15.29% |
| 5 | Carmax | 8.33 Bn | 7.73 Bn | 854.41 Mn | 10.66% |
| 6 | Autonation | 7.02 Bn | 6.97 Bn | 1.23 Bn | 17.77% |
| 7 | Rush Enterprises Inc \Tx\ | 6.34 Bn | 6.08 Bn | 361.67 Mn | 19.04% |
| 8 | Autozi Internet Technology (Global) | 6.33 Bn | 6.14 Bn | - | - |
| 9 | Valvoline | 4.30 Bn | 4.22 Bn | 214.90 Mn | 39.46% |
| 10 | Openlane | 4.29 Bn | 4.10 Bn | 248.20 Mn | 44.75% |
Historic Data
Download Data| Date | Value |
|---|---|
| May 31, 2026 | 10.66% |
| 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% |