CarMax, Inc.

KMX

Financial Statements

Income Statement (Annual)

Amounts in millions

2025

2/28/2025

Revenue

26,353

Cost of Revenue

23,456

Gross Profit

2,898

Gross Margin

11.0%

Operating Income

462

Operating Margin

1.8%

Net Income

501

Net Margin

1.9%

EPS (Basic)

$3.22

EPS (Diluted)

$3.21

EBITDA

1,072

EBITDA Margin

4.1%

2024

2/29/2024

Revenue

26,536

Cost of Revenue

23,823

Gross Profit

2,713

Gross Margin

10.2%

Operating Income

942

Operating Margin

3.6%

Net Income

479

Net Margin

1.8%

EPS (Basic)

$3.03

EPS (Diluted)

$3.02

EBITDA

1,043

EBITDA Margin

3.9%

2023

2/28/2023

Revenue

29,685

Cost of Revenue

26,885

Gross Profit

2,800

Gross Margin

9.4%

Operating Income

-311

Operating Margin

-1.0%

Net Income

485

Net Margin

1.6%

EPS (Basic)

$3.05

EPS (Diluted)

$3.03

EBITDA

1,022

EBITDA Margin

3.4%

2022

2/28/2022

Revenue

31,900

Cost of Revenue

28,613

Gross Profit

3,288

Gross Margin

10.3%

Operating Income

552

Operating Margin

1.7%

Net Income

1,151

Net Margin

3.6%

EPS (Basic)

$7.09

EPS (Diluted)

$6.97

EBITDA

2,088

EBITDA Margin

6.5%

2021

2/28/2021

Revenue

18,950

Cost of Revenue

16,571

Gross Profit

2,379

Gross Margin

12.6%

Operating Income

273

Operating Margin

1.4%

Net Income

747

Net Margin

3.9%

EPS (Basic)

$4.58

EPS (Diluted)

$4.52

EBITDA

1,285

EBITDA Margin

6.8%

Income Statement (Annual)

Financial performance (amounts in millions)

Item	2025	2024	2023	2022	2021
Revenue	26,353	26,536	29,685	31,900	18,950
Cost of Revenue	23,456	23,823	26,885	28,613	16,571
Gross Profit	2,898	2,713	2,800	3,288	2,379
Gross Margin	11.0%	10.2%	9.4%	10.3%	12.6%
Operating Income	462	942	-311	552	273
Operating Margin	1.8%	3.6%	-1.0%	1.7%	1.4%
Net Income	501	479	485	1,151	747
Net Margin	1.9%	1.8%	1.6%	3.6%	3.9%
EPS (Basic)	$3.22	$3.03	$3.05	$7.09	$4.58
EPS (Diluted)	$3.21	$3.02	$3.03	$6.97	$4.52
EBITDA	1,072	1,043	1,022	2,088	1,285
EBITDA Margin	4.1%	3.9%	3.4%	6.5%	6.8%