CarMax
Sells used vehicles through stores and nationwide online-to-store customer journeys.
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Profile
Sells used vehicles through a no-haggle retail model, using a nationwide store network and digital interactions. Customers can shop, arrange financing pre-approval, obtain appraisals, and complete pickup or, for most, home delivery.
Used-vehicle retailing is the core business, pairing no-haggle pricing with a customer-friendly sales process. Customers can shop and complete transactions online, in stores, or through both channels, with financing pre-approval, appraisals, pickup, and home delivery available for most customers.
Operations are concentrated in the United States, where the store network supports a nationwide omnichannel journey and fully online interactions. Edmunds supplies automotive content and technology intended to complement the national scale and infrastructure. Keith Barr assumed the chief executive role in March 2026, leaving the leadership transition as a current execution dependency.
Company facts
Categories
Key statistics
Year to date +58.1% · Average volume (30d) 2.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 29, 2026 | UBS | Target | $57 | $60 | ||
| Jul 29, 2026 | JP Morgan | Upgrade | Underweight | Neutral | ||
| Jul 21, 2026 | Barclays | Upgrade | Underweight | Neutral | $37 | $61 |
| Jun 23, 2026 | Morgan Stanley | Reiterate | Equal Weight | $35 | $44 | |
| Jun 23, 2026 | UBS | Reiterate | Neutral | $42 | $57 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jun 17, 2026Q1 FY27 | $0.97 | $1.31 | +35.8% | $7.42B | $8.01B | +7.9% | +13.14% |
| Apr 14, 2026Q4 FY26 | $0.22 | $0.34 | +54.5% | $5.72B | $5.95B | +4.0% | −2.76% |
| Dec 18, 2025Q3 FY26 | $0.31 | $0.51 | +66.4% | $5.64B | $6.24B | +10.6% | −2.21% |
| Sep 25, 2025Q2 FY26 | $1.04 | $0.64 | −38.5% | $7.01B | $7.08B | +1.1% | −1.62% |
Financial highlights
| 12 quarters | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|
| Revenue | $6.00B | $7.55B | $6.59B | $5.79B | $5.95B | $8.01B | |
| Gross profit | $667.9M | $893.6M | $717.7M | $590.0M | $605.3M | $785.2M | |
| Operating income | −$99.6M | $42.3M | −$117.8M | −$133.7M | −$249.7M | $13.6M | |
| Net income | $89.9M | $210.4M | $95.4M | $62.2M | −$120.7M | $185.6M | |
| Diluted EPS | $0.58 | $1.38 | $0.64 | $0.43 | −$0.77 | $1.31 | |
| Gross margin | 11.1% | 11.8% | 10.9% | 10.2% | 10.2% | 9.8% | |
| Operating margin | -1.7% | 0.6% | -1.8% | -2.3% | -4.2% | 0.2% |
Fiscal years (4-quarter sums)FY22 $31.90B · FY23 $29.68B · FY24 $26.54B · FY25 $26.35B · FY26 $25.88B
Revenue by product · Q4 FY26
Balance sheet, May 31, 2026Cash & short-term investments $132.2M · Total debt $18.64B · Total assets $26.63B · Shareholders' equity $6.12B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 141.91M · Float 131.14M · 92.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 17.09M | 12.04% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 7.29M | 5.13% | 13F | Aug 13, 2026 |
| AQR Capital Management LLC | 6.62M | 4.67% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 6.42M | 4.52% | 13F | Aug 13, 2026 |
| SRS Investment Management, LLC | 5.92M | 4.17% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 24, 2026 | Mark F. ONeil | director | +9,600 | $52.36 |
| Jun 25, 2026 | Marcella Shinder | director | +574 | $52.01 |
| Jun 25, 2026 | Sona Chawla | director | +2,000 | $53.39 |
| Jun 22, 2026 | Keith Barr | director, officer: President and CEO | +9,400 | $53.01 |
| Jun 22, 2026 | Peter J. Bensen | director | +2,500 | $52.20 |
Peers
- Carvana
Online used-vehicle retail, trade-in, financing, and delivery
- Lithia Motors
Automotive retailer for new and used vehicles, financing, and aftersales
- AutoNation
U.S. automotive retailer selling new and used vehicles with related services
- Sonic Automotive
EchoPark offers low-priced, omnichannel pre-owned vehicle retail
- Asbury Automotive Group
Franchised and digital retailer of new and used vehicles
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| CarMax | $62.57 | +0.74% | $8.81B | 38.6 | 22.3 | 0.3 | +6.2% |
| Carvana | $74.29 | +0.34% | $81.21B | 34.3 | 38.0 | 3.2 | +52.4% |
| Lithia Motors | $370.36 | −0.13% | $8.14B | 12.3 | 9.5 | 0.2 | +2.2% |
| AutoNation | $200.09 | −0.02% | $6.70B | 9.3 | 8.5 | 0.2 | −0.6% |
| Sonic Automotive | $79.68 | +0.04% | $2.65B | 12.6 | 11.1 | 0.2 | +7.6% |
| Asbury Automotive Group | $211.62 | +0.01% | $3.94B | 7.9 | 7.5 | 0.2 | +0.3% |
| Median | 12.3 | 9.5 | 0.2 | +2.2% |