Filing Flows › CarMax (KMX) › Q2 FY27 › vs Q2 FY26
CarMax (KMX) Q2 FY27 vs Q2 FY26 (year over year)
CarMax's revenue rose $1.3B (+19%) from $6.6B in Q2 FY26 to $7.9B in Q2 FY27. The biggest changes: Used vehicle sales +$1.0B (+20%); Wholesale vehicle sales +$209M (+18%); Extended protection plan revenues +$26.5M (+23%). Gross margin 10.1% against 10.9% (-0.7 pts).
CarMax, Q2 FY27: revenue $7.9B (+20% year over year), operating margin 2.8%, net earnings $165M, operating cash flow $883M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q2 FY27 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 10.1% | 10.9% | -0.7 pts |
| Operating margin | 2.8% | 1.9% | +0.9 pts |
| Net margin | 2.1% | 1.4% | +0.7 pts |
| Free cash flow margin | 10.2% | 9.9% | +0.3 pts |
Every line
| Line | Q2 FY27 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Used vehicle sales | $6.3B | $5.3B | $1.0B | +20% |
| Wholesale vehicle sales | $1.4B | $1.1B | $209M | +18% |
| Extended protection plan revenues | $142M | $115M | $26.5M | +23% |
| Advertising & subscription revenues | $36.3M | $37.9M | −$1.6M | -4% |
| Service revenues | $26.8M | $19.2M | $7.6M | +40% |
| Other | $5.5M | $3.0M | $2.5M | +83% |
| Revenue | $7.9B | $6.6B | $1.3B | +19% |
| Gross profit | $799M | $718M | $81.8M | +11% |
| Cost of revenue | $7.1B | $5.9B | $1.2B | +20% |
| Operating profit | $223M | $127M | $96.0M | +76% |
| Operating expenses | $576M | $591M | −$14.2M | -2% |
| Pre-tax earnings | $223M | $127M | $96.0M | +76% |
| Net earnings | $165M | $95.4M | $69.9M | +73% |
| Income tax | $57.8M | $31.7M | $26.1M | +82% |
| Depreciation & amortization | $95.2M | $83.9M | $11.3M | +13% |
| Share-based compensation | $32.4M | $24.3M | $8.1M | +33% |
| Working capital & other | $590M | $582M | $8.2M | +1% |
| Operating cash flow | $883M | $785M | $97.4M | +12% |
| Free cash flow (OCF − capex) | $806M | $654M | $152M | +23% |
| Capital expenditures | $77.1M | $131M | −$54.4M | -41% |
Questions
How much did CarMax's revenue grow year over year in Q2 FY27?
CarMax's revenue rose $1.3B (+19%) from $6.6B in Q2 FY26 to $7.9B in Q2 FY27.
What drove CarMax's revenue change in Q2 FY27?
Used vehicle sales +$1.0B (+20%); Wholesale vehicle sales +$209M (+18%); Extended protection plan revenues +$26.5M (+23%).