Carmax (KMX) Quarterly Income Statement

Income Statement Summary

Carmax (KMX) quarterly income statement covering the six quarters from May 2025 to August 2026, as reported to the SEC.

Carmax reported net sales and operating revenues of $7.88B in the quarter ended August 31, 2026, up 19.5% from $6.59B a year earlier.
That is 1.7% lower than the May 2026 quarter.
Gross profit was $799.46M, up 11.4% from $717.67M. That is a gross margin of 10.1%.
Net earnings were $165.29M, up 73.3% from $95.38M. Net margin was 2.1%.
Diluted (in dollars per share) was $1.16, up 81.2% from $0.64.
Total cost of sales took 89.9% of net sales and operating revenues and selling, general and administrative expenses 8%.

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

						Aug'26	May'26	Feb'26	Nov'25	Aug'25	May'25
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
7,877	8,013	5,945	5,793	6,594	7,546	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET SALES AND OPERATING REVENUES						7,877	8,013	5,945	5,793	6,594	7,546	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES
7,078	7,159	5,340	5,203	5,877	6,652	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES						7,078	7,159	5,340	5,203	5,877	6,652	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
GROSS PROFIT
799	854	605	590	717	893	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
GROSS PROFIT						799	854	605	590	717	893	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
CARMAX AUTO FINANCE INCOME
135	140	143	174	102	141	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
CARMAX AUTO FINANCE INCOME						135	140	143	174	102	141	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative expenses
628	635	611	581	601	659	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative expenses						628	635	611	581	601	659	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation, Depletion and Amortization, Nonproduction
70	69	71	68	67	65	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation, Depletion and Amortization, Nonproduction						70	69	71	68	67	65	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
31	33	28	26	28	27	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						31	33	28	26	28	27	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income
18	2	7	-4	3	0	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income						18	2	7	-4	3	0	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings before income taxes
223	258	-110	83	127	283	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings before income taxes						223	258	-110	83	127	283	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax provision
57	72	10	21	31	72	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax provision						57	72	10	21	31	72	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS
165	185	-120	62	95	210	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS						165	185	-120	62	95	210	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
WEIGHTED AVERAGE COMMON SHARES:
Basic, shares
141	141	142	145	149	152	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic, shares						141	141	142	145	149	152	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted, shares
142	142	142	145	149	152	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted, shares						142	142	142	145	149	152	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS PER SHARE:
Basic (in dollars per share)
1.16	1.31	-0.77	0.43	0.64	1.38	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in dollars per share)						1.16	1.31	-0.77	0.43	0.64	1.38	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)
1.16	1.31	-0.77	0.43	0.64	1.38	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)						1.16	1.31	-0.77	0.43	0.64	1.38	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Used vehicle sales
NET SALES AND OPERATING REVENUES
6,310	6,391	4,780	4,548	5,270	6,103	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET SALES AND OPERATING REVENUES						6,310	6,391	4,780	4,548	5,270	6,103	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES
5,832	5,889	4,396	4,169	4,828	5,549	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES						5,832	5,889	4,396	4,169	4,828	5,549	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues
74.00%	73.50%	-	-	73.20%	73.50%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						74.00%	73.50%	-	-	73.20%	73.50%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Wholesale vehicle sales
NET SALES AND OPERATING REVENUES
1,358	1,427	1,007	1,095	1,149	1,252	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET SALES AND OPERATING REVENUES						1,358	1,427	1,007	1,095	1,149	1,252	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES
1,220	1,258	891	980	1,012	1,096	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES						1,220	1,258	891	980	1,012	1,096	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues
15.50%	15.70%	-	-	15.30%	14.50%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						15.50%	15.70%	-	-	15.30%	14.50%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other sales and revenues
NET SALES AND OPERATING REVENUES
208	194	158	150	174	190	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET SALES AND OPERATING REVENUES						208	194	158	150	174	190	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES
25	10	52	54	36	7	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES						25	10	52	54	36	7	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues
0.30%	0.10%	-	-	0.60%	0.10%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						0.30%	0.10%	-	-	0.60%	0.10%	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%	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%	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%	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%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of revenue
Item as a percent of net sales and operating revenues
89.90%	89.30%	-	-	89.10%	88.20%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						89.90%	89.30%	-	-	89.10%	88.20%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
TOTAL COST OF SALES
Item as a percent of net sales and operating revenues
-	-	-	89.80%	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						-	-	-	89.80%	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues
-	-	-	89.80%	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						-	-	-	89.80%	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
GROSS PROFIT
Item as a percent of net sales and operating revenues
10.10%	10.70%	-	10.20%	10.90%	11.80%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						10.10%	10.70%	-	10.20%	10.90%	11.80%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
CARMAX AUTO FINANCE INCOME
Item as a percent of net sales and operating revenues
1.70%	1.80%	-	3.00%	1.60%	1.90%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						1.70%	1.80%	-	3.00%	1.60%	1.90%	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
8.00%	7.90%	-	-	9.10%	8.70%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						8.00%	7.90%	-	-	9.10%	8.70%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues
-	-	-	10.00%	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						-	-	-	10.00%	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation and Amortization, Nonproduction
Item as a percent of net sales and operating revenues
0.90%	0.90%	-	1.20%	1.00%	0.90%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						0.90%	0.90%	-	1.20%	1.00%	0.90%	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%	-	-	0.40%	0.40%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						0.40%	0.40%	-	-	0.40%	0.40%	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
Item as a percent of net sales and operating revenues						-	-	-	0.50%	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other (income) expense as a percent of sales
Item as a percent of net sales and operating revenues
-0.20%	-	-	-	-0.10%	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						-0.20%	-	-	-	-0.10%	-	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
2.80%	3.20%	-	1.40%	1.90%	3.80%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						2.80%	3.20%	-	1.40%	1.90%	3.80%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax provision
Item as a percent of net sales and operating revenues
0.70%	0.90%	-	0.40%	0.50%	1.00%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						0.70%	0.90%	-	0.40%	0.50%	1.00%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET EARNINGS
Item as a percent of net sales and operating revenues
2.10%	2.30%	-	1.10%	1.40%	2.80%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Item as a percent of net sales and operating revenues						2.10%	2.30%	-	1.10%	1.40%	2.80%	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx