Filing Flows › CarMax (KMX) › Q4 FY25
CarMax (KMX) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Apr 11, 2025
CarMax (KMX) reported revenue of $6.0B for the fourth quarter fiscal 2025 (Q4 FY25), +7% from a year earlier and -4% from the quarter before. Operating margin was 2.0%, net earnings $89.9M (1.5% of revenue).
CarMax, Q4 FY25: revenue $6.0B (+7% year over year), operating margin 2.0%, net earnings $89.9M, operating cash flow $146M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.0B | -4% | +7% |
| Gross profit | $668M | -1% | +14% |
| Operating profit | $118M | -29% | +81% |
| Net earnings | $89.9M | -28% | +79% |
| Operating cash flow | $146M | — | -53% |
| Free cash flow | $18.8M | — | -91% |
What changed
Revenue was $6.0B in Q4 FY25, up 7% year over year and down 4% from the previous quarter. Used vehicle sales was the largest line at 81% of revenue.
Gross margin was 11.1%, up 0.7 points from a year earlier. Operating profit was $0.12B, a 2.0% margin (up 0.8 points year over year). Of the extra revenue versus a year earlier, 14% reached operating profit, above the 1% margin then. Operating expenses grew 6% against revenue growth of 7%. Net earnings were $0.09B, up 79% year over year. The effective tax rate was 24.1%.
Operating cash flow was $0.15B (down 53% year over year), 163% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.05B. Capital expenditures of $0.13B left free cash flow of $0.02B.
Questions
What was CarMax's revenue in the fourth quarter fiscal 2025?
CarMax (KMX) reported revenue of $6.0B for the fourth quarter fiscal 2025 (Q4 FY25), +7% from a year earlier and -4% from the quarter before.
Was CarMax profitable in the fourth quarter fiscal 2025?
Operating profit was $118M (2.0% of revenue) and net earnings $89.9M.
Source: CarMax 10-K on SEC EDGAR.