CARMAX INC

CarMax, Inc. (NYSE: KMX) operates as the nation's largest retailer of used vehicles, delivering a customer-centric buying and selling experience through its omni-channel platform. The company's website is located at carmax.com.

CarMax operates two primary reportable segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Sales Operations segment encompasses all aspects of vehicle merchandising and service operations, while CAF provides financing exclusively to customers purchasing retail vehicles from CarMax. During fiscal 2026, CarMax sold 780,684 used vehicles at retail and operated 256 used car stores across 110 U.S. television markets. The company also operates wholesale vehicle auctions, selling 538,203 vehicles during the same period, and services approximately one million customer accounts through a $16.37 billion auto loan portfolio.

The company's core business model centers on providing transparent, no-haggle pricing and a seamless omni-channel experience that allows customers to buy vehicles online, in-store, or through a combination of both channels. CarMax acquires inventory through consumer appraisals, dealer purchases, and wholesale auctions, reconditioning vehicles to meet internal quality standards before retail sale. The company offers extended protection plans, vehicle repair services, and financing options across the credit spectrum through both CAF and third-party finance providers.

As of February 28, 2026, CarMax employed 27,796 full- and part-time associates, including 1,308 technology, product, and data science professionals supporting its digital infrastructure. The company acquired Edmunds Holding Company in 2021, enhancing its digital capabilities and online automotive information offerings. CarMax was separated from Circuit City in 2002 as an independent, publicly traded company and has since established itself as a significant participant in the used vehicle retail market, with approximately 3.6 percent market share of age zero to ten-year-old vehicles sold nationwide.

The company's competitive advantages include its proprietary inventory management and pricing systems, extensive store network, brand reputation for integrity, and integrated omni-channel platform that combines physical locations with digital shopping capabilities and AI-powered customer service tools.