Carmax annual gross margin
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2026
Carmax Gross Margin Growth & History (KMX)
Carmax's gross margin was 10.84% for fiscal 2026.
View full Carmax company overviewCarmax annual gross margin history
| Fiscal year | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| 2026 | 2026-02-28 | 10.84% | −0.15 pp |
| 2025 | 2025-02-28 | 11.00% | +0.77 pp |
| 2024 | 2024-02-29 | 10.22% | +0.79 pp |
| 2023 | 2023-02-28 | 9.43% | −0.87 pp |
| 2022 | 2022-02-28 | 10.31% | −2.25 pp |
| 2021 | 2021-02-28 | 12.55% | −0.84 pp |
| 2020 | 2020-02-29 | 13.40% | −0.25 pp |
| 2019 | 2019-02-28 | 13.65% | +0.05 pp |
| 2018 | 2018-02-28 | 13.60% | −0.15 pp |
| 2017 | 2017-02-28 | 13.75% | +0.43 pp |
| 2016 | 2016-02-29 | 13.33% | +0.10 pp |
| 2015 | 2015-02-28 | 13.23% | +0.12 pp |
| 2014 | 2014-02-28 | 13.11% | −0.25 pp |
| 2013 | 2013-02-28 | 13.36% | −0.43 pp |
| 2012 | 2012-02-29 | 13.78% | −0.71 pp |
| 2011 | 2011-02-28 | 14.50% | −0.21 pp |
| 2010 | 2010-02-28 | 14.71% | +0.83 pp |
| 2009 | 2009-02-28 | 13.88% | — |
Carmax quarterly gross margin
Q2.10
Q3.10
Q1.11
Q2.11
Q3.11
Q4.11
Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
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Q3.13
Q4.13
Q1.14
Q2.14
Q3.14
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Q1.15
Q2.15
Q3.15
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Q1.16
Q2.16
Q3.16
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Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
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Q1.20
Q2.20
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Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
Q3.26
Q4.26
Q1.27
| Fiscal quarter | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| Q1 2027 | 2026-05-31 | 10.66% | −1.18 pp |
| Q4 2026 | 2026-02-28 | 10.18% | −0.95 pp |
| Q3 2026 | 2025-11-30 | 10.18% | −0.70 pp |
| Q2 2026 | 2025-08-31 | 10.88% | +0.04 pp |
| Q1 2026 | 2025-05-31 | 11.84% | +0.71 pp |
| Q4 2025 | 2025-02-28 | 11.13% | +0.71 pp |
| Q3 2025 | 2024-11-30 | 10.89% | +0.92 pp |
| Q2 2025 | 2024-08-31 | 10.84% | +0.99 pp |
| Q1 2025 | 2024-05-31 | 11.13% | +0.50 pp |
| Q4 2024 | 2024-02-29 | 10.42% | −0.26 pp |
| Q3 2024 | 2023-11-30 | 9.97% | +1.10 pp |
| Q2 2024 | 2023-08-31 | 9.85% | +0.80 pp |
| Q1 2024 | 2023-05-31 | 10.63% | +1.23 pp |
| Q4 2023 | 2023-02-28 | 10.68% | +1.43 pp |
| Q3 2023 | 2022-11-30 | 8.86% | −0.95 pp |
| Q2 2023 | 2022-08-31 | 9.05% | −1.16 pp |
| Q1 2023 | 2022-05-31 | 9.40% | −2.61 pp |
| Q4 2022 | 2022-02-28 | 9.25% | −3.17 pp |
| Q3 2022 | 2021-11-30 | 9.81% | −2.37 pp |
| Q2 2022 | 2021-08-31 | 10.21% | −3.79 pp |
| Q1 2022 | 2021-05-31 | 12.01% | +1.04 pp |
| Q4 2021 | 2021-02-28 | 12.42% | −1.14 pp |
| Q3 2021 | 2020-11-30 | 12.18% | −0.63 pp |
| Q2 2021 | 2020-08-31 | 14.00% | +0.67 pp |
| Q1 2021 | 2020-05-31 | 10.97% | −2.86 pp |
| Q4 2020 | 2020-02-29 | 13.56% | −0.32 pp |
| Q3 2020 | 2019-11-30 | 12.81% | −0.44 pp |
| Q2 2020 | 2019-08-31 | 13.33% | −0.32 pp |
| Q1 2020 | 2019-05-31 | 13.83% | +0.03 pp |
| Q4 2019 | 2019-02-28 | 13.88% | +0.74 pp |
| Q3 2019 | 2018-11-30 | 13.25% | +0.12 pp |
| Q2 2019 | 2018-08-31 | 13.65% | −0.12 pp |
| Q1 2019 | 2018-05-31 | 13.80% | −0.49 pp |
| Q4 2018 | 2018-02-28 | 13.14% | −0.74 pp |
| Q3 2018 | 2017-11-30 | 13.13% | −0.46 pp |
| Q2 2018 | 2017-08-31 | 13.77% | +0.13 pp |
| Q1 2018 | 2017-05-31 | 14.29% | +0.41 pp |
| Q4 2017 | 2017-02-28 | 13.88% | +0.68 pp |
| Q3 2017 | 2016-11-30 | 13.59% | +0.49 pp |
| Q2 2017 | 2016-08-31 | 13.64% | +0.22 pp |
| Q1 2017 | 2016-05-31 | 13.88% | +0.33 pp |
| Q4 2016 | 2016-02-29 | 13.20% | −0.34 pp |
| Q3 2016 | 2015-11-30 | 13.10% | −0.01 pp |
| Q2 2016 | 2015-08-31 | 13.42% | +0.55 pp |
| Q1 2016 | 2015-05-31 | 13.54% | +0.17 pp |
| Q4 2015 | 2015-02-28 | 13.54% | +1.05 pp |
| Q3 2015 | 2014-11-30 | 13.12% | +0.14 pp |
| Q2 2015 | 2014-08-31 | 12.87% | −0.52 pp |
| Q1 2015 | 2014-05-31 | 13.38% | −0.15 pp |
| Q4 2014 | 2014-02-28 | 12.49% | −0.57 pp |
| Q3 2014 | 2013-11-30 | 12.98% | −0.29 pp |
| Q2 2014 | 2013-08-31 | 13.40% | +0.05 pp |
| Q1 2014 | 2013-05-31 | 13.53% | −0.23 pp |
| Q4 2013 | 2013-02-28 | 13.06% | −0.60 pp |
| Q3 2013 | 2012-11-30 | 13.27% | −0.15 pp |
| Q2 2013 | 2012-08-31 | 13.34% | −0.35 pp |
| Q1 2013 | 2012-05-31 | 13.77% | −0.53 pp |
| Q4 2012 | 2012-02-29 | 13.66% | −0.58 pp |
| Q3 2012 | 2011-11-30 | 13.41% | −0.64 pp |
| Q2 2012 | 2011-08-31 | 13.69% | −1.22 pp |
| Q1 2012 | 2011-05-31 | 14.30% | −0.45 pp |
| Q4 2011 | 2011-02-28 | 14.23% | +0.16 pp |
| Q3 2011 | 2010-11-30 | 14.06% | −1.09 pp |
| Q2 2011 | 2010-08-31 | 14.91% | — |
| Q1 2011 | 2010-05-31 | 14.75% | — |
| Q3 2010 | 2009-11-30 | 14.07% | — |
| Q2 2010 | 2009-08-31 | 15.15% | — |
Carmax gross margin trends
Over the last five reported fiscal years, Carmax's gross margin decreased from 12.55% to 10.84%, a change of −1.71 percentage points. The latest reported quarter, Q1 2027, shows 10.66%.
About the metric
What gross margin means
Gross margin measures the percentage of revenue remaining after the direct costs of producing goods or services. It helps show how efficiently a company turns sales into gross profit before operating expenses.
Calculation and source
How gross margin is calculated
TickerStat calculates gross margin as SEC-reported gross profit divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Carmax filings at SEC.gov ↗