Filing Flows › CarMax (KMX) › Q4 FY26
CarMax (KMX) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Apr 15, 2026
CarMax (KMX) reported revenue of $5.9B for the fourth quarter fiscal 2026 (Q4 FY26), -1% from a year earlier and +3% from the quarter before. Operating margin was -1.9%, net loss $121M (2.0% of revenue).
CarMax, Q4 FY26: revenue $5.9B (-1% year over year), operating margin -1.9%, net loss $121M, operating cash flow −$554M. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.9B | +3% | -1% |
| Operating profit | −$111M | -232% | -193% |
| Net earnings | −$121M | -294% | -234% |
| Operating cash flow | −$554M | -144% | -479% |
What changed
Revenue was $5.9B in Q4 FY26, down 1% year over year and up 3% from the previous quarter. Used vehicle sales was the largest line at 80% of revenue.
Gross margin was 10.2%, down 0.9 points from Q4 FY25. Operating costs exceeded revenue by $0.11B, an operating margin of -1.9%. Operating expenses grew 30% against a revenue fall of 1%. The quarter ended with a net loss of $0.12B, after a profit of $0.06B the previous quarter.
Operating cash flow was −$0.55B. Non-cash charges added back $0.09B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.54B. Capital expenditures of $0.13B exceeded it, leaving free cash flow of −$0.69B.
Questions
What was CarMax's revenue in the fourth quarter fiscal 2026?
CarMax (KMX) reported revenue of $5.9B for the fourth quarter fiscal 2026 (Q4 FY26), -1% from a year earlier and +3% from the quarter before.
Was CarMax profitable in the fourth quarter fiscal 2026?
Operating loss was $111M (-1.9% of revenue) and net loss $121M.
Source: CarMax 10-K on SEC EDGAR.