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CarMax vs Murphy USA: KMX and MUSA compared
CarMax is the larger company: $7.9B of revenue in its latest quarter (Q2 FY27) against $6.9B for Murphy USA (Q3 2026). Murphy USA is growing faster (+35% against +20% a year earlier). Murphy USA is more profitable, with an operating margin of 3.8% against 2.8%.
Where the money goes: KMX and MUSA
CarMax (KMX) · Q2 FY27
CarMax, Q2 FY27: revenue $7.9B (+20% year over year), operating margin 2.8%, net earnings $165M, operating cash flow $883M. The chart follows the revenue to costs, profit and cash.
Murphy USA (MUSA) · Q3 2026
Murphy USA, Q3 2026: revenue $6.9B (+35% year over year), operating margin 3.8%, net earnings $176M, operating cash flow $348M. The chart follows the revenue to costs, profit and cash.
| CarMax (KMX) | Murphy USA (MUSA) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q3 2026 |
| Revenue | $7.9B | $6.9B |
| Revenue growth, Y/Y | +20% | +35% |
| Gross margin | 10.1% | — |
| Operating margin | 2.8% | 3.8% |
| Net earnings | $165M | $176M |
| Net margin | 2.1% | 2.6% |
| Operating cash flow | $883M | $348M |
| Free cash flow | $806M | $194M |
| Market value | $7.5B | $9.4B |
| P/E | 24.7× | 14.5× |
| Analysts’ mean target | $61.31 | $616.00 |
Where the revenue comes from
CarMax
- Used vehicle sales: $6.3B (80%)
- Wholesale vehicle sales: $1.4B (17%)
- Extended protection plan revenues: $142M (2%)
- Advertising & subscription revenues: $36.3M (0%)
Murphy USA
- Petroleum product sales: $5.6B (81%)
- Merchandise sales: $1.2B (17%)
- Other operating revenues: $136M (2%)
- Other revenues: $1.1M (0%)
Questions
Which is bigger, CarMax or Murphy USA?
CarMax is the larger company: $7.9B of revenue in its latest quarter (Q2 FY27) against $6.9B for Murphy USA (Q3 2026).
Is CarMax or Murphy USA growing faster?
Murphy USA is growing faster (+35% against +20% a year earlier).
Which is more profitable, CarMax or Murphy USA?
Murphy USA is more profitable, with an operating margin of 3.8% against 2.8%.
More: CarMax earnings · how CarMax makes money · Murphy USA earnings · how Murphy USA makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Sep 30, 2026; 10-Q filed Oct 30, 2026). Fiscal quarters can end on different dates. Not investment advice.