CarMax, Inc. (KMX) Stock Price & Analysis
CarMax, Inc. (KMX) closed at USD 52.96 on Thursday, October 22, 2026, up 2.85% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 51.49; the Oct 22, 2026 session ranged USD 50.76–52.98 on volume of 2,805,770 shares. Market capitalization is $7.52B, with a 52-week range of USD 30.26–65.28 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:23 UTC.
Also available as compact Markdown for AI agents: nexqual.com/KMX.md
Key facts (KMX)
- Last four reported quarters (through Aug 31, 2026): revenue $27.6B, net income $292M (1.1% margin), free cash flow $1.15B (SEC filings).
- Valuation: P/E 25.7x (avg 26.0x at the last 3 fiscal year-ends), net debt $16.6B.
- 5 of 80 tracked superinvestors hold KMX (13F, Q2 2026): 0 new, 1 added, 3 reduced, 1 unchanged.
- Insider open-market purchases, last ~7 months: 5 Form 4 filings, $1.3M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 2.90 on a 1–5 scale) (20 analysts), mean target USD 63.77 (range 43–96).
- Total return with dividends: 1Y +22.8% vs S&P 500 +14.9%; 5Y -63.1% vs S&P 500 +80.3%.
- Next earnings: 2026-12-17, EPS estimate USD 0.43, revenue estimate $6.70B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (KMX)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $31.9B | $29.7B | $26.5B | $26.4B | $25.9B | $27.6B |
| Gross profit | $3.29B | $2.80B | $2.71B | $2.90B | $2.81B | — |
| Net income | $1.15B | $485M | $479M | $501M | $247M | $292M |
| EPS (diluted) | $6.97 | $3.03 | $3.02 | $3.21 | $1.68 | — |
| Free cash flow | -$2.86B | $861M | -$6.7M | $157M | $1.24B | $1.15B |
| Gross margin | 10.3% | 9.4% | 10.2% | 11.0% | 10.8% | — |
| Net margin | 3.6% | 1.6% | 1.8% | 1.9% | 1.0% | 1.1% |
| Revenue growth | +68.3% | -6.9% | -10.6% | -0.7% | -1.8% | — |
| Cash + short-term investments | $0K | $230M | $484M | $127M | $8.1M | — |
| Total debt | $18.2B | $17.9B | $18.3B | $18.2B | $17.5B | — |
Fiscal years end Feb. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Aug 31, 2026) (KMX)
P/E 25.7x · P/S 0.3x · EV/Sales 0.9x · P/FCF 6.6x · P/B 1.2x · FCF yield 15.25% · Earnings yield 3.89% · Buyback yield (TTM) 3.47% · Net debt $16.6B · EV $24.2B
P/E at fiscal year-ends: Feb 2026 25.8x, Feb 2025 25.9x, Feb 2024 26.2x.
Superinvestors (SEC 13F-HR, Q2 2026) (KMX)
5 of 80 tracked investors hold KMX. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Hillman Capital | Hillman Capital Management | 3.50% | $4.8M | Reduced -16.3% |
| First Pacific Advisors | 2.00% | $159M | Added +0.9% | |
| Vulcan Value Partners | 1.47% | $48.3M | Reduced -58.6% | |
| John Rogers | Ariel Investments | 0.18% | $18.3M | Reduced -38.3% |
| Thomas Gayner | Markel Group | 0.05% | $7.2M | Unchanged |
Insider purchases (SEC Form 4, open-market, last ~7 months) (KMX)
5 purchases, $1.3M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-25 | Chawla Sona | Director | 2,000 | $107K | 53.39 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-25 | Shinder Marcella | Director | 574 | $30K | 52.01 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-24 | Oneil Mark F | Director | 9,600 | $503K | 52.36 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-22 | Bensen Peter J | Director | 2,500 | $131K | 52.2 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-22 | Barr Keith | President and CEO | 9,400 | $498K | 53.01 | Too little history (no open-market trades in 2023–2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (KMX)
Consensus Hold (mean 2.90 on a 1–5 scale), 20 analysts; mean target USD 63.77 (low 43, high 96).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | B of A Securities | Upgrade | Underperform → Buy | $50 → $65 |
| 2026-09-30 | Barclays | Target raised | Equal-Weight | $61 → $67 |
| 2026-09-30 | UBS | Target raised | Neutral | $57 → $62 |
| 2026-09-30 | Morgan Stanley | Target raised | Equal-Weight | $47 → $53 |
| 2026-09-30 | Truist Securities | Target raised | Hold | $50 → $60 |
| 2026-09-30 | RBC Capital | Target raised | Sector Perform | $45 → $56 |
| 2026-09-30 | Baird | Target raised | Outperform | $64 → $70 |
| 2026-09-30 | BNP Paribas | Target raised | Underperform | $33 → $48 |
| 2026-09-30 | B of A Securities | Target raised | Underperform | $45 → $50 |
| 2026-09-25 | Stephens & Co. | Target raised | Overweight | $66 → $74 |
| 2026-09-23 | Morgan Stanley | Target raised | Equal-Weight | $44 → $47 |
| 2026-09-18 | JP Morgan | Target raised | Neutral | $60 → $70 |
Total return (dividends reinvested) (KMX)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +22.8% | -63.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +22.9% | -18.0% |
| Volatility (annualized) | 54.4% | 42.9% |
| Max drawdown | -31.5% (Oct 2025→Nov 2025) | -79.1% (Nov 2021→Nov 2025) |
KMX revenue by product line (quarter ended Aug 31, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Used vehicle sales | $6.31B | 80.1% | +19.7% |
| Wholesale vehicle sales | $1.36B | 17.2% | +18.2% |
| Total other sales and revenues | $208.4M | 2.6% | +19.5% |
| Extended protection plan revenues | $141.6M | 1.8% | +23.0% |
| Advertising & subscription revenues | $36.3M | 0.5% | -4.2% |
| Service revenues | $26.8M | 0.3% | +39.6% |
| Other | $5.5M | 0.1% | +83.3% |
| Total revenue | $7.88B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
KMX company outlook (results filed Sep 29, 2026)
- “For more details on factors that could affect expectations, see our Annual Report on Form 10-K for the fiscal year ended February 28, 2026, and our quarterly or current reports as filed with or furnished to the U.S.”
Quoted word-for-word from the SEC 8-K results press release.
KMX analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Nov 2026) | $0.43 | $0.44 | -3.5% | $6.70B | 13 |
| Next quarter (ends Feb 2027) | $0.37 | $0.30 | +26.4% | $6.49B | 13 |
| Current fiscal year (ends Feb 2027) | $3.23 | $2.71 | +19.3% | $29.03B | 14 |
| Next fiscal year (ends Feb 2028) | $3.53 | $3.11 | +13.5% | $29.39B | 15 |
KMX options: expected move
Options price a move of about ±16.7% (±$8.85) by Dec 18, 2026, which includes earnings on Dec 17, 2026; the earnings reaction alone is priced at about ±8.2%. Over the last 8 reports the stock moved ±11.3% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 46.9% | ±10.5% |
| Dec 18, 2026 | 56 | 53.4% | ±16.7% |
| Jan 15, 2027 | 84 | 49.8% | ±19.0% |
| Apr 16, 2027 | 175 | 49.3% | ±27.0% |
30-day implied volatility 46.1% vs 44.6% realized over the last 30 trading days. Put/call ratio (volume) 10.79. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:23 UTC)
| Price | USD 52.96 |
|---|---|
| Change | ▲ 2.85% (up) |
| Previous Close | USD 51.49 |
| Open | USD 51.11 |
| Day Range | USD 50.76 – 52.98 |
| 52-Week Range | USD 30.26 – 65.28 |
| Volume | 2,805,770 shares |
| Market Cap | $7.52B |
| Exchange | NYQ |
Technical Analysis (KMX)
Nexqual's technical model rates KMX "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:23 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 42.96 (neutral) |
| vs SMA50 | Below (USD 57.73) |
| MACD | -1.56 (negative) |
Analyst Ratings (KMX)
Wall Street analysts rate KMX "Hold" based on 20 analysts, with a mean price target of USD 63.77 (range USD 43–96), per Nexqual as of October 23, 2026 at 09:23 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 20 |
| Mean Target | USD 63.77 |
| High Target | USD 96 |
| Low Target | USD 43 |
| Buy / Hold / Sell | 4 / 15 / 1 |
Earnings (KMX)
| Next Earnings Date | 2026-12-17 |
|---|---|
| EPS Estimate | USD 0.47 |
| Revenue Estimate | $6.70B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-08-31 | USD 1.16 vs est 0.73 ▲ beat |
| 2026-05-31 | USD 1.31 vs est 0.94 ▲ beat |
| 2026-02-28 | USD -0.85 vs est 0.22 ▼ miss |
| 2025-11-30 | USD 0.43 vs est 0.32 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financials & Fundamentals (KMX)
| Total Revenue | $29.46B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +17.70% |
| Gross Margin | +11.69% |
| Operating Margin | +2.83% |
| Profit Margin | +0.99% |
| ROE | +4.68% |
| Debt / Equity | 2.87 |
| Current Ratio | 2.33 |
| Total Cash | $170.52M |
| Total Debt | $18.07B |
| Free Cash Flow (last four quarters to Aug 2026, SEC 10-Q / 10-K) | $1.15B (4.1% of revenue) |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financial Health Score (KMX)
Nexqual rates CarMax, Inc.'s overall financial health "Weak" across five dimensions, as of October 23, 2026 at 09:23 UTC.
| Growth | Weak — Revenue -2% YoY (annual), declining |
|---|---|
| Profitability | Weak — Gross margin 12%, operating 3% (last 12 months) |
| Balance Sheet | Weak — $171M cash and investments vs $16.8B debt (Aug 2026, SEC) |
| Cash Flow | Mixed — FCF $1.15B (last 4 quarters to Aug 2026, SEC), slim 4.1% margin |
| Efficiency | Weak — ROE 5%, ROA 1.8% |
Ownership (KMX)
| Insider Ownership | +0.47% |
|---|---|
| Institutional Ownership | +105.01% |
| Shares Outstanding | 141.94M |
| Float | 141.10M |
| Short % of Float | +8.62% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Leadership (KMX)
CarMax, Inc. is led by Keith Barr, CEO, President & Director, per Nexqual as of October 23, 2026 at 09:23 UTC.
| CEO, President & Director | Keith Barr |
|---|---|
| Executive VP, CFO & Principal Accounting Officer | Enrique N. Mayor-Mora |
| Executive VP & COO | Charles Joseph Wilson |
| Vice President of Investor Relations | David L. Lowenstein |
| Senior Vice President of Store & CEC Execution | Darren C. Newberry |
Major Backers & Investors (KMX)
Notable institutional backers of CarMax, Inc. include AQR Capital Management, LLC, Srs Investment Management, Llc, Two Sigma Investments, LP, according to Nexqual as of October 23, 2026 at 09:23 UTC.
Active Investors
| Investor | Stake |
|---|---|
| AQR Capital Management, LLC | 4.67% |
| Srs Investment Management, Llc | 4.17% |
| Two Sigma Investments, LP | 4.11% |
| Jupiter Topco LLC | 3.27% |
| Primecap Management Company | 3.07% |
| JANUS INVESTMENT FUND-Janus Henderson Enterprise Fund | 2.22% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 12.04% |
| Vanguard Group | 9.65% |
| State Street | 3.63% |
| Dimensional Fund Advisors | 3.5% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
From CarMax, Inc.'s Latest SEC 10-K Filing (filed 2026-04-15)
Key Strengths & Strategy (as disclosed to the SEC)
- We are also one of the nation's largest operators of wholesale vehicle auctions, with 538,203 vehicles sold during fiscal 2026, and one of the nation's largest providers of used vehicle financing, servicing approximately 1.0 million customer accounts in our $16.37 billion portfolio of auto loans as of February 28, 2026.
- Our proprietary centralized inventory management and pricing system tracks each vehicle throughout the sales process and allows us to buy the mix of makes, models, age, mileage and price points tailored to customer buying preferences.
- Generally, credit applications submitted by customers to CarMax are initially reviewed by CAF using our proprietary underwriting standards.
- Our proprietary digital technology provides our management with real-time information about many aspects of our omni-channel operations, such as inventory management, pricing, vehicle transfers, wholesale auctions and sales consultant productivity.
Partnerships
- We have expanded our partnerships with the WNBA and the NWSL, including our front-of-kit sponsorship of the NWSL's Gotham FC and our founding partnership of the WNBA's Golden State Valkyries.
Legal & Regulatory Risks (Item 1A, quoted)
- We operate in a highly regulated industry and are subject to a wide range of federal, state and local laws and regulations. Changes in these laws and regulations, or our failure to comply, could have a material adverse effect on our business, sales, results of operations and financial condition.
- The violation of any of these laws or regulations could result in administrative, civil or criminal penalties or in a cease-and-desist order against our business operations, any of which could damage our reputation and have a material adverse effect on our business, sales and results of operations.
- We are subject to evolving regulations, disclosure requirements, standards and expectations relating to environmental, social and governance matters. Failure to satisfy these regulations, requirements, standards and expectations could adversely affect our business, sales, results of operations and financial condition.
- We are subject to various legal proceedings. If the outcomes of these proceedings are adverse to CarMax, it could have a material adverse effect on our business, results of operations and financial condition.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| RUSHB | Rush Enterprises, Inc. | USD 57.89 | ▼ 1.14% |
| LAD | Lithia Motors, Inc. | USD 291.07 | ▲ 8.15% |
| AN | AutoNation, Inc. | USD 161.84 | ▲ 5.77% |
| OPLN | OPENLANE, Inc. | USD 38.05 | ▲ 1.63% |
| VVV | Valvoline Inc. | USD 32.44 | ▲ 4.24% |
| PAG | Penske Automotive Group, Inc. | USD 212.11 | ▲ 0.03% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:23 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt