Carmax (KMX) Operating Expenses (2009 - 2026)
Carmax (KMX) posted quarterly Operating Expenses of $635.2 million for Q2 2026, down 3.71% year-over-year from $659.6 million in Q2 2025, and up 3.9% quarter-over-quarter from $611.3 million in Q1 2026.
Carmax (KMX) Operating Expenses (2009 - 2026) Analysis & Trends
Carmax's Operating Expenses history runs 18 years deep, the most recent figure standing at $635.2 million for Q2 2026.
- In Q2 2026, Operating Expenses fell 3.71% year-over-year to $635.2 million; the TTM figure through May 2026 stood at $2.4 billion (down 1.12% YoY), while the FY2026 annual figure was $2.5 billion, up 0.74% from the prior year.
- Operating Expenses for Q2 2026 stood at $635.2 million, up from $611.3 million in the prior quarter.
- The five-year high for Operating Expenses was $666.0 million in Q3 2022, with the low at $559.8 million in Q2 2023.
- The 5-year median for Operating Expenses is $605.8 million (2025), against an average of $606.6 million.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses rose 22.51% in 2022, then declined 14.76% in 2023.
- Carmax's Operating Expenses stood at $591.7 million in 2022, then retreated by 5.37% to $560.0 million in 2023, then gained by 2.82% to $575.8 million in 2024, then climbed by 0.97% to $581.4 million in 2025, then grew by 9.26% to $635.2 million in 2026.
- Business Quant data shows KMX's Operating Expenses at $635.2 million in Q2 2026, $611.3 million in Q1 2026, and $581.4 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Uxin | 79.73 Bn | 79.73 Bn | - | 1,188.60 |
| 2 | Carvana | 51.39 Bn | 48.65 Bn | 1.38 Bn | 704.00 Mn |
| 3 | Penske Automotive | 14.30 Bn | 14.23 Bn | 1.36 Bn | 974.00 Mn |
| 4 | Lithia Motors | 8.61 Bn | 8.25 Bn | 1.50 Bn | 1.01 Bn |
| 5 | Carmax | 8.32 Bn | 7.73 Bn | 854.41 Mn | 635.18 Mn |
| 6 | Autonation | 7.03 Bn | 6.98 Bn | 1.23 Bn | 856.30 Mn |
| 7 | Autozi Internet Technology (Global) | 6.46 Bn | 6.28 Bn | - | - |
| 8 | Rush Enterprises Inc \Tx\ | 6.33 Bn | 6.07 Bn | 361.67 Mn | 245.47 Mn |
| 9 | Valvoline | 4.30 Bn | 4.22 Bn | 214.90 Mn | 103.10 Mn |
| 10 | Openlane | 4.29 Bn | 4.10 Bn | 248.20 Mn | 487.10 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| May 31, 2026 | 635.18 Mn |
| Feb 28, 2026 | 611.31 Mn |
| Nov 30, 2025 | 581.37 Mn |
| Aug 31, 2025 | 601.09 Mn |
| May 31, 2025 | 659.64 Mn |
| Feb 28, 2025 | 610.50 Mn |
| Nov 30, 2024 | 575.76 Mn |
| Aug 31, 2024 | 610.56 Mn |
| May 31, 2024 | 638.58 Mn |
| Feb 29, 2024 | 580.89 Mn |
| Nov 30, 2023 | 559.96 Mn |
| Aug 31, 2023 | 585.69 Mn |
| May 31, 2023 | 559.84 Mn |
| Feb 28, 2023 | 572.85 Mn |
| Nov 30, 2022 | 591.73 Mn |
| Aug 31, 2022 | 666.04 Mn |
| May 31, 2022 | 656.74 Mn |
| Feb 28, 2022 | 620.94 Mn |
| Nov 30, 2021 | 575.93 Mn |
| Aug 31, 2021 | 574.29 Mn |