Carmax (KMX) Operating Margin (2009 - 2026)

Carmax (KMX) has reported Operating Margin for 18 consecutive years, with 2.74% the latest figure, recorded in Q2 2026.

• In Q2 2026, Operating Margin fell 36.0% year-over-year to 2.74%; the TTM figure through May 2026 stood at 1.28% (down 74.0% YoY), while the FY2026 annual figure was 0.13%, down 53.0% from the prior year.
• Operating Margin came in at 2.74% for Q2 2026 at Carmax, up from 0.1% in the prior quarter.
• The five-year high for Operating Margin was 3.35% in Q2 2023, with the low at 0.23% in Q4 2022.
• Average Operating Margin over 5 years is 1.4%, with a median of 1.37% recorded in 2023.
• Across the five-year window, Operating Margin slumped 329 bps in 2022 and jumped 109 bps in 2023, its largest moves.
• Year by year, Operating Margin stood at 0.23% in 2022, then soared by 472 bps to 0.86% in 2023, then jumped by 90 bps to 1.64% in 2024, then sank by 91 bps to 0.15% in 2025, then jumped by 1726 bps to 2.74% in 2026.
• According to Business Quant data, Operating Margin over the past three periods registered 2.74%, 0.1%, and 0.15% for Q2 2026, Q1 2026, and Q4 2025 respectively.