Carmax (KMX) Annual Income Statement

Income Statement Summary

Carmax (KMX) annual income statement covering fiscal 2021 through 2026, as reported to the SEC.

Carmax reported net sales and operating revenues of $25.88B in fiscal 2026, down 1.8% from $26.35B in fiscal 2025.
Gross profit was $2.81B, down 3.2% from $2.9B. That is a gross margin of 10.8%.
Net earnings were $247.29M, down 50.6% from $500.56M. Net margin was 0.96%.
Diluted (in dollars per share) was $1.68, down 47.7% from $3.21.
Total cost of sales took 89.2% of net sales and operating revenues and selling, general and administrative expenses 9.5%.

Net sales and operating revenues have grown 6.4% a year on average since fiscal 2021, from $18.95B to $25.88B.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD millions, except per share data

						Feb'26	Feb'25	Feb'24	Feb'23	Feb'22	Feb'21
SALES AND OPERATING REVENUES:
New vehicle sales
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
New vehicle sales						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other sales and revenues
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other sales and revenues						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET SALES AND OPERATING REVENUES
25,881	26,353	26,536	29,684	31,900	18,950	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET SALES AND OPERATING REVENUES						25,881	26,353	26,536	29,684	31,900	18,950	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES
23,074	23,455	23,822	26,884	28,612	16,571	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES						23,074	23,455	23,822	26,884	28,612	16,571	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
GROSS PROFIT
2,806	2,897	2,713	2,800	3,287	2,379	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
GROSS PROFIT						2,806	2,897	2,713	2,800	3,287	2,379	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
CARMAX AUTO FINANCE INCOME
562	581	568	663	801	562	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
CARMAX AUTO FINANCE INCOME						562	581	568	663	801	562	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative expenses
2,453	2,435	2,286	2,487	2,325	1,704	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative expenses						2,453	2,435	2,286	2,487	2,325	1,704	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation, Depletion and Amortization, Nonproduction
273	255	239	228	211	194	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation, Depletion and Amortization, Nonproduction						273	255	239	228	211	194	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
110	107	124	120	94	86	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						110	107	124	120	94	86	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Goodwill, Impairment Loss
141	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Goodwill, Impairment Loss						141	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income
7	11	-10	-9	-34	-8	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income						7	11	-10	-9	-34	-8	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings before income taxes
383	669	641	636	1,492	965	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings before income taxes						383	669	641	636	1,492	965	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax provision
136	168	162	152	341	218	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax provision						136	168	162	152	341	218	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS
247	500	479	484	1,151	746	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS						247	500	479	484	1,151	746	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
WEIGHTED AVERAGE COMMON SHARES:
Basic, shares
147	155	158	158	162	163	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic, shares						147	155	158	158	162	163	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted, shares
147	156	158	159	165	165	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted, shares						147	156	158	159	165	165	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS PER SHARE:
Basic (in dollars per share)
1.68	3.22	3.03	3.05	7.09	4.58	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in dollars per share)						1.68	3.22	3.03	3.05	7.09	4.58	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)
1.68	3.21	3.02	3.03	6.97	4.52	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)						1.68	3.21	3.02	3.03	6.97	4.52	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Used vehicle sales
NET SALES AND OPERATING REVENUES
20,702	21,079	20,922	23,034	24,437	15,713	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET SALES AND OPERATING REVENUES						20,702	21,079	20,922	23,034	24,437	15,713	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES
18,943	19,256	19,170	21,186	22,398	14,124	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES						18,943	19,256	19,170	21,186	22,398	14,124	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Wholesale vehicle sales
NET SALES AND OPERATING REVENUES
4,504	4,587	4,975	5,989	6,763	2,668	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET SALES AND OPERATING REVENUES						4,504	4,587	4,975	5,989	6,763	2,668	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES
3,980	4,029	4,419	5,399	5,999	2,245	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES						3,980	4,029	4,419	5,399	5,999	2,245	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other sales and revenues
NET SALES AND OPERATING REVENUES
674	686	637	660	699	567	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET SALES AND OPERATING REVENUES						674	686	637	660	699	567	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES
150	169	233	298	214	200	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES						150	169	233	298	214	200	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET SALES AND OPERATING REVENUES
Item as a percent of net sales and operating revenues
100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues
100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES
Item as a percent of net sales and operating revenues
89.20%	89.00%	89.80%	90.60%	89.70%	87.40%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						89.20%	89.00%	89.80%	90.60%	89.70%	87.40%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues
89.20%	89.00%	89.80%	90.60%	89.70%	87.40%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						89.20%	89.00%	89.80%	90.60%	89.70%	87.40%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
GROSS PROFIT
Item as a percent of net sales and operating revenues
10.80%	11.00%	10.20%	9.40%	10.30%	12.60%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						10.80%	11.00%	10.20%	9.40%	10.30%	12.60%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
CARMAX AUTO FINANCE INCOME
Item as a percent of net sales and operating revenues
2.20%	2.20%	2.10%	2.20%	2.50%	3.00%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						2.20%	2.20%	2.10%	2.20%	2.50%	3.00%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative expenses
Item as a percent of net sales and operating revenues
9.50%	9.20%	8.60%	8.40%	7.30%	9.00%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						9.50%	9.20%	8.60%	8.40%	7.30%	9.00%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation and Amortization, Nonproduction
Item as a percent of net sales and operating revenues
1.10%	1.00%	0.90%	0.80%	0.70%	1.00%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						1.10%	1.00%	0.90%	0.80%	0.70%	1.00%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
Item as a percent of net sales and operating revenues
0.40%	0.40%	0.50%	0.40%	0.30%	0.50%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						0.40%	0.40%	0.50%	0.40%	0.30%	0.50%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other (income) expense
Item as a percent of net sales and operating revenues
-	-	-	-	-0.10%	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						-	-	-	-	-0.10%	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings before income taxes
Item as a percent of net sales and operating revenues
1.50%	2.50%	2.40%	2.10%	4.70%	5.10%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						1.50%	2.50%	2.40%	2.10%	4.70%	5.10%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax provision
Item as a percent of net sales and operating revenues
0.50%	0.60%	0.60%	0.50%	1.10%	1.20%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						0.50%	0.60%	0.60%	0.50%	1.10%	1.20%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS
Item as a percent of net sales and operating revenues
1.00%	1.90%	1.80%	1.60%	3.60%	3.90%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						1.00%	1.90%	1.80%	1.60%	3.60%	3.90%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Goodwill impairment
Item as a percent of net sales and operating revenues
0.50%	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						0.50%	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx