CarMax, Inc.

KMX

Financial Statements

Income Statement (Annual)

Amounts in millions

2025

2/28/2025

Revenue

28,207

Cost of Revenue

24,983

Gross Profit

3,224

Gross Margin

11.4%

Operating Income

789

Operating Margin

2.8%

Net Income

501

Net Margin

1.8%

EPS (Basic)

$3.22

EPS (Diluted)

$3.21

EBITDA

1,089

EBITDA Margin

3.9%

2024

2/29/2024

Revenue

28,213

Cost of Revenue

25,171

Gross Profit

3,042

Gross Margin

10.8%

Operating Income

756

Operating Margin

2.7%

Net Income

479

Net Margin

1.7%

EPS (Basic)

$3.03

EPS (Diluted)

$3.02

EBITDA

1,060

EBITDA Margin

3.8%

2023

2/28/2023

Revenue

31,126

Cost of Revenue

27,891

Gross Profit

3,235

Gross Margin

10.4%

Operating Income

748

Operating Margin

2.4%

Net Income

485

Net Margin

1.6%

EPS (Basic)

$3.05

EPS (Diluted)

$3.03

EBITDA

1,038

EBITDA Margin

3.3%

2022

2/28/2022

Revenue

33,197

Cost of Revenue

29,320

Gross Profit

3,877

Gross Margin

11.7%

Operating Income

1,552

Operating Margin

4.7%

Net Income

1,151

Net Margin

3.5%

EPS (Basic)

$7.09

EPS (Diluted)

$6.97

EBITDA

1,866

EBITDA Margin

5.6%

2021

2/28/2021

Revenue

20,092

Cost of Revenue

17,150

Gross Profit

2,942

Gross Margin

14.6%

Operating Income

1,003

Operating Margin

5.0%

Net Income

747

Net Margin

3.7%

EPS (Basic)

$4.58

EPS (Diluted)

$4.52

EBITDA

1,294

EBITDA Margin

6.4%

Income Statement (Annual)

Financial performance (amounts in millions)

Item	2025	2024	2023	2022	2021
Revenue	28,207	28,213	31,126	33,197	20,092
Cost of Revenue	24,983	25,171	27,891	29,320	17,150
Gross Profit	3,224	3,042	3,235	3,877	2,942
Gross Margin	11.4%	10.8%	10.4%	11.7%	14.6%
Operating Income	789	756	748	1,552	1,003
Operating Margin	2.8%	2.7%	2.4%	4.7%	5.0%
Net Income	501	479	485	1,151	747
Net Margin	1.8%	1.7%	1.6%	3.5%	3.7%
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	1,089	1,060	1,038	1,866	1,294
EBITDA Margin	3.9%	3.8%	3.3%	5.6%	6.4%