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Side-by-side financial comparison of ADVANCE AUTO PARTS INC (AAP) and CarMax (KMX). Click either name above to swap in a different company.
CarMax is the larger business by last-quarter revenue ($5.8B vs $2.0B, roughly 2.9× ADVANCE AUTO PARTS INC). CarMax runs the higher net margin — 1.1% vs 0.3%, a 0.8% gap on every dollar of revenue. On growth, ADVANCE AUTO PARTS INC posted the faster year-over-year revenue change (130.1% vs -6.9%). CarMax produced more free cash flow last quarter ($1.1B vs $-21.0M). Over the past eight quarters, CarMax's revenue compounded faster (1.5% CAGR vs -15.7%).
Advance Auto Parts, Inc. is an American automotive aftermarket parts provider. Headquartered in Raleigh, North Carolina, it serves professional installer and do it yourself (DIY) customers.
CarMax, Inc. is a used vehicle retailer based in the United States. It operates two business segments: CarMax Sales Operations and CarMax Auto Finance. The company began as a side business of Circuit City Corporation, Inc., opening its first location in September 1993 in Richmond, Virginia. As of January 2025, CarMax operates 253 locations.
AAP vs KMX — Head-to-Head
Income Statement — Q4 2026 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $5.8B |
| Net Profit | $6.0M | $62.2M |
| Gross Margin | 44.1% | 10.2% |
| Operating Margin | 2.2% | — |
| Net Margin | 0.3% | 1.1% |
| Revenue YoY | 130.1% | -6.9% |
| Net Profit YoY | 101.4% | -50.4% |
| EPS (diluted) | $0.10 | $0.43 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $5.8B | ||
| Q3 25 | $2.0B | $6.6B | ||
| Q2 25 | $2.6B | $7.5B | ||
| Q1 25 | — | $6.0B | ||
| Q4 24 | $2.1B | $6.2B | ||
| Q3 24 | $2.2B | $7.0B | ||
| Q2 24 | $2.8B | $7.1B |
| Q1 26 | $6.0M | — | ||
| Q4 25 | $-1.0M | $62.2M | ||
| Q3 25 | $15.0M | $95.4M | ||
| Q2 25 | $24.0M | $210.4M | ||
| Q1 25 | — | $89.9M | ||
| Q4 24 | $-6.0M | $125.4M | ||
| Q3 24 | $45.0M | $132.8M | ||
| Q2 24 | $40.0M | $152.4M |
| Q1 26 | 44.1% | — | ||
| Q4 25 | 43.3% | 10.2% | ||
| Q3 25 | 43.5% | 10.9% | ||
| Q2 25 | 42.9% | 11.8% | ||
| Q1 25 | — | 11.1% | ||
| Q4 24 | 42.3% | 10.9% | ||
| Q3 24 | 43.6% | 10.8% | ||
| Q2 24 | 43.4% | 11.1% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | -5.1% | — | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | 2.5% | 2.5% | ||
| Q2 24 | 1.9% | 2.9% |
| Q1 26 | 0.3% | — | ||
| Q4 25 | -0.0% | 1.1% | ||
| Q3 25 | 0.7% | 1.4% | ||
| Q2 25 | 0.9% | 2.8% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | -0.3% | 2.0% | ||
| Q3 24 | 2.1% | 1.9% | ||
| Q2 24 | 1.4% | 2.1% |
| Q1 26 | $0.10 | — | ||
| Q4 25 | $-0.02 | $0.43 | ||
| Q3 25 | $0.25 | $0.64 | ||
| Q2 25 | $0.40 | $1.38 | ||
| Q1 25 | — | $0.58 | ||
| Q4 24 | $-0.10 | $0.81 | ||
| Q3 24 | $0.75 | $0.85 | ||
| Q2 24 | $0.67 | $0.97 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.1B | $204.9M |
| Total DebtLower is stronger | $3.4B | $16.6B |
| Stockholders' EquityBook value | $2.2B | $6.1B |
| Total Assets | $11.8B | $25.6B |
| Debt / EquityLower = less leverage | 1.55× | 2.74× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.1B | — | ||
| Q4 25 | $3.2B | $204.9M | ||
| Q3 25 | $1.7B | $540.4M | ||
| Q2 25 | $1.7B | $262.8M | ||
| Q1 25 | — | $247.0M | ||
| Q4 24 | $464.5M | $271.9M | ||
| Q3 24 | $479.4M | $524.7M | ||
| Q2 24 | $451.0M | $218.9M |
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.4B | $16.6B | ||
| Q3 25 | $1.8B | $17.8B | ||
| Q2 25 | $1.8B | $18.0B | ||
| Q1 25 | — | $18.1B | ||
| Q4 24 | $1.8B | $18.1B | ||
| Q3 24 | $1.8B | $18.1B | ||
| Q2 24 | $1.8B | $18.2B |
| Q1 26 | $2.2B | — | ||
| Q4 25 | $2.2B | $6.1B | ||
| Q3 25 | $2.2B | $6.2B | ||
| Q2 25 | $2.2B | $6.3B | ||
| Q1 25 | — | $6.2B | ||
| Q4 24 | $2.6B | $6.2B | ||
| Q3 24 | $2.6B | $6.2B | ||
| Q2 24 | $2.6B | $6.2B |
| Q1 26 | $11.8B | — | ||
| Q4 25 | $12.1B | $25.6B | ||
| Q3 25 | $10.5B | $27.1B | ||
| Q2 25 | $10.6B | $27.4B | ||
| Q1 25 | — | $27.4B | ||
| Q4 24 | $12.5B | $27.3B | ||
| Q3 24 | $12.3B | $27.3B | ||
| Q2 24 | $12.2B | $27.2B |
| Q1 26 | 1.55× | — | ||
| Q4 25 | 1.55× | 2.74× | ||
| Q3 25 | 0.81× | 2.87× | ||
| Q2 25 | 0.81× | 2.86× | ||
| Q1 25 | — | 2.91× | ||
| Q4 24 | 0.69× | 2.92× | ||
| Q3 24 | 0.69× | 2.93× | ||
| Q2 24 | 0.70× | 2.95× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $72.0M | $1.3B |
| Free Cash FlowOCF − Capex | $-21.0M | $1.1B |
| FCF MarginFCF / Revenue | -1.1% | 19.2% |
| Capex IntensityCapex / Revenue | 4.7% | 2.4% |
| Cash ConversionOCF / Net Profit | 12.00× | 20.14× |
| TTM Free Cash FlowTrailing 4 quarters | $-298.0M | $1.9B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $72.0M | — | ||
| Q4 25 | $-12.0M | $1.3B | ||
| Q3 25 | $50.0M | $785.5M | ||
| Q2 25 | $-156.0M | $299.5M | ||
| Q1 25 | — | $146.4M | ||
| Q4 24 | $70.0M | $-23.4M | ||
| Q3 24 | $85.0M | $619.1M | ||
| Q2 24 | $3.0M | $-117.7M |
| Q1 26 | $-21.0M | — | ||
| Q4 25 | $-76.0M | $1.1B | ||
| Q3 25 | $-3.0M | $654.0M | ||
| Q2 25 | $-198.0M | $162.8M | ||
| Q1 25 | — | $18.8M | ||
| Q4 24 | $27.0M | $-150.6M | ||
| Q3 24 | $44.0M | $509.9M | ||
| Q2 24 | $-43.0M | $-221.6M |
| Q1 26 | -1.1% | — | ||
| Q4 25 | -3.7% | 19.2% | ||
| Q3 25 | -0.1% | 9.9% | ||
| Q2 25 | -7.7% | 2.2% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | 1.3% | -2.4% | ||
| Q3 24 | 2.0% | 7.3% | ||
| Q2 24 | -1.6% | -3.1% |
| Q1 26 | 4.7% | — | ||
| Q4 25 | 3.1% | 2.4% | ||
| Q3 25 | 2.6% | 2.0% | ||
| Q2 25 | 1.6% | 1.8% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | 2.0% | 2.0% | ||
| Q3 24 | 1.9% | 1.6% | ||
| Q2 24 | 1.7% | 1.5% |
| Q1 26 | 12.00× | — | ||
| Q4 25 | — | 20.14× | ||
| Q3 25 | 3.33× | 8.24× | ||
| Q2 25 | -6.50× | 1.42× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | — | -0.19× | ||
| Q3 24 | 1.89× | 4.66× | ||
| Q2 24 | 0.07× | -0.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AAP
Segment breakdown not available.
KMX
| Used Vehicles | $4.5B | 78% |
| Wholesale Vehicles | $1.1B | 19% |
| Other | $150.6M | 3% |
| Extendedprotectionplan Domain | $96.6M | 2% |
| Advertising Subscription Revenues Domain | $35.1M | 1% |
| Service Domain | $18.5M | 0% |
| Thirdpartyfinancefees Domain | $3.0M | 0% |
