CARMAX INC(KMX)Stock Analysis
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Rank #1,624 of 2,961 stocks
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Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
KMX Stock Analysis & AI Quality Score
Data updated 2026-09-11AI stock analysis and institutional research for CARMAX INC (KMX), a Consumer Discretionary sector company. 13F Pro's AI-powered ranking engine scores KMX at 50.0/100 on a 32-signal composite quality model, placing it at rank #1,624 of 2,961 stocks — the bottom half of the AI-ranked universe. KMX scores in the top quartile across revenue scale (94.4), earnings quality (94.2). Areas of concern include revenue growth (26.9) and institutional flow (31.4), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), CARMAX INC reports quarterly revenue of $8.0B, net income of $185.6M, an operating margin of 3.2%. Top institutional holders of KMX by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, AQR CAPITAL MANAGEMENT, based on the most recent SEC filings. KMX trades on the NYSE exchange and files with the SEC under CIK 1170010. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate KMX daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for CARMAX INC directly from SEC EDGAR. CARMAX INC's 13F Pro composite quality score has ranged between 43 and 61 since 2021, currently 50.0 — a declining long-term trajectory across 67 quarterly and live scoring snapshots.
Revenue
Q2 2026
$8.0B
Net Income
Q2 2026
$185.6M
Free Cash Flow
Q2 2026
$-85.7M
Operating Margin
Q2 2026
3.2%
ROIC
Q2 2026
4.3%
D/E Ratio
Q2 2026
2.97
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · ProRevenue
-1.8% YoYNet Income
-50.6% YoYEPS (Diluted)
-47.7% YoYTotal Assets
-3.8% YoYTotal Debt
-3.5% YoYOp. Cash Flow
+185.7% YoYFree Cash Flow
+694.2% YoY| Metric | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue | $25.88B -1.8% | $26.35B -0.7% | $26.54B -10.6% | $29.68B -6.9% | $31.90B +68.3% | $18.95B |
| Net Income | $247.3M -50.6% | $500.6M +4.5% | $479.2M -1.1% | $484.8M -57.9% | $1.15B +54.1% | $746.9M |
| EPS (Diluted) | $1.68 -47.7% | $3.21 +6.3% | $3.02 -0.3% | $3.03 -56.5% | $6.97 +54.2% | $4.52 |
| Total Assets | $26.37B -3.8% | $27.40B +0.8% | $27.20B +3.9% | $26.18B -0.6% | $26.34B +22.3% | $21.54B |
| Total Debt | $18.05B -3.5% | $18.71B -0.4% | $18.78B +2.2% | $18.38B -1.9% | $18.73B +24.1% | $15.10B |
| Operating Cash Flow | $1.78B +185.7% | $624.4M +36.2% | $458.6M -64.3% | $1.28B +150.3% | $-2.55B -481.8% | $667.8M |
| Free Cash Flow | $1.24B +694.2% | $156.5M +2439.3% | $-6.7M -100.8% | $860.6M +130.1% | $-2.86B -667.9% | $503.2M |
AI Insight: KMX Financial Trends
CarMax revenue and profitability remain volatile; net loss in Q1 2026 followed by recovery, but debt trajectory now rising after Q4 2025 dip.
• Revenue swung from $5,794M (Q4 2025) to $5,946M (Q1 2026) to $8,014M (Q2 2026), showing seasonal volatility without clear growth trajectory.
• Net income deteriorated to $-121M loss in Q1 2026, recovered to $186M in Q2 2026; volatile earnings reflect operational instability.
• Total debt fell from $18,707M (Q1 2025) to $17,354M (Q4 2025), then rose to $18,161M (Q2 2026), erasing leverage gains.
⚠ Operating cash flow turned negative $-554M in Q1 2026 despite positive revenue; suggests working capital stress or seasonal cash drain.
⚠ Q2 2026 operating cash flow recovered to only $18M despite $8,014M revenue—cash conversion remains weak relative to sales.
AI Insight: KMX Ratio Trends
CarMax's profitability collapsed in Q1 2026, erasing gains; Q2 2026 recovery masks underlying volatility and deteriorating trailing margins.
• Operating margin swung from -1.9% in Q1 2026 to 3.2% in Q2 2026; ROIC recovered to 5.7% from -2.5%, signaling operational rebound.
• TTM operating margin fell to 1.4% versus 2.5% in Q3 2024; NPM compressed to 0.8% from 1.9%, indicating sustained profitability pressure.
• Q2 2025 and Q2 2026 show similar strength (3.8% vs 3.2% OpMargin, 6.0% vs 5.7% ROIC), suggesting seasonal pattern rather than structural improvement.
⚠ Q1 2026 negative margins (-1.9% OpMargin, -2.0% NPM) represent first loss quarter in dataset; recovery in Q2 unclear if sustainable.
⚠ Extreme quarter-to-quarter volatility (OpMargin range: -1.9% to 3.8%) suggests cyclical headwinds or accounting/seasonal distortions affecting visibility.
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Available Research
13F Pro tracks comprehensive data for CARMAX INC including:
Top Institutional Holders of KMX
BlackRock, Inc.
$904.0M17,092,089 shVANGUARD PORTFOLIO MANAGEMENT LLC
$385.4M7,286,475 shAQR CAPITAL MANAGEMENT LLC
$349.0M6,622,794 shVANGUARD CAPITAL MANAGEMENT LLC
$339.6M6,420,191 shSRS Investment Management, LLC
$313.3M5,922,862 shTWO SIGMA INVESTMENTS, LP
$308.5M5,831,970 shSTATE STREET CORP
$272.7M5,156,276 shDIMENSIONAL FUND ADVISORS LP
$263.1M4,974,772 shJupiter Topco LLC
$245.7M4,645,036 shPRIMECAP MANAGEMENT CO/CA/
$230.5M4,359,016 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $904.0M | 17,092,089 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $385.4M | 7,286,475 |
| AQR CAPITAL MANAGEMENT LLC | $349.0M | 6,622,794 |
| VANGUARD CAPITAL MANAGEMENT LLC | $339.6M | 6,420,191 |
| SRS Investment Management, LLC | $313.3M | 5,922,862 |
| TWO SIGMA INVESTMENTS, LP | $308.5M | 5,831,970 |
| STATE STREET CORP | $272.7M | 5,156,276 |
| DIMENSIONAL FUND ADVISORS LP | $263.1M | 4,974,772 |
| Jupiter Topco LLC | $245.7M | 4,645,036 |
| PRIMECAP MANAGEMENT CO/CA/ | $230.5M | 4,359,016 |
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Similarity is computed from the 8 composite sub-scores and latest-quarter 13F conviction holdings (index-style filers excluded). Refreshed monthly.
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Popular Research
Is KMX a good stock to buy?
13F Pro's AI-powered analysis of CARMAX INC (KMX) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Consumer Discretionary sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for KMX are available on the KMX stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. KMX is classified as a mid company.
Which hedge funds own KMX?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling KMX. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of CARMAX INC's investment landscape.