CarMax Inc

KMX: XNYS (USA)

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A New CarMax CEO in Place Opens the Door to a Sales Turnaround

David Whiston

Feb 12, 2026

Business Strategy and Outlook

CarMax's revenue has grown at a compound annual rate of 10.8% since fiscal 2000 from customer-friendly sales practices and use of technology. We think the firm will eventually reach its over 5% zero to 10-year-old vehicle market share target, up from 3.7% in calendar 2023 and 2024. However, goals of $33 billion in revenue and selling a combined 2 million annual retail and auction units may change with a new CEO.

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We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

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CarMax Inc

A New CarMax CEO in Place Opens the Door to a Sales Turnaround

Business Strategy and Outlook

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