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Side-by-side financial comparison of Arhaus, Inc. (ARHS) 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 $364.8M, roughly 15.9× Arhaus, Inc.). Arhaus, Inc. runs the higher net margin — 4.1% vs 1.1%, a 3.1% gap on every dollar of revenue. On growth, Arhaus, Inc. posted the faster year-over-year revenue change (5.1% vs -6.9%). CarMax produced more free cash flow last quarter ($1.1B vs $-8.8M). Over the past eight quarters, Arhaus, Inc.'s revenue compounded faster (11.2% CAGR vs 1.5%).
Arhaus, Inc.ARHSEarnings & Financial Report
Arhaus, Inc. is an upscale American home furnishings company headquartered in Boston Heights, Ohio. Founded in 1986 with a focus on sustainability and artisanship in product quality, Arhaus provides a diversified assortment of specialty goods and services addressing omnichannel direct-to-consumer and business-to-business residential and commercial operations.
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.
ARHS vs KMX — Head-to-Head
Income Statement — Q4 2025 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $364.8M | $5.8B |
| Net Profit | $15.1M | $62.2M |
| Gross Margin | 38.1% | 10.2% |
| Operating Margin | 5.6% | — |
| Net Margin | 4.1% | 1.1% |
| Revenue YoY | 5.1% | -6.9% |
| Net Profit YoY | -29.1% | -50.4% |
| EPS (diluted) | $0.11 | $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.
| Q4 25 | $364.8M | $5.8B | ||
| Q3 25 | $344.6M | $6.6B | ||
| Q2 25 | $358.4M | $7.5B | ||
| Q1 25 | $311.4M | $6.0B | ||
| Q4 24 | $347.0M | $6.2B | ||
| Q3 24 | $319.1M | $7.0B | ||
| Q2 24 | $309.8M | $7.1B | ||
| Q1 24 | $295.2M | $5.6B |
| Q4 25 | $15.1M | $62.2M | ||
| Q3 25 | $12.2M | $95.4M | ||
| Q2 25 | $35.1M | $210.4M | ||
| Q1 25 | $4.9M | $89.9M | ||
| Q4 24 | $21.3M | $125.4M | ||
| Q3 24 | $9.9M | $132.8M | ||
| Q2 24 | $22.2M | $152.4M | ||
| Q1 24 | $15.1M | $50.3M |
| Q4 25 | 38.1% | 10.2% | ||
| Q3 25 | 38.7% | 10.9% | ||
| Q2 25 | 41.4% | 11.8% | ||
| Q1 25 | 37.1% | 11.1% | ||
| Q4 24 | 40.0% | 10.9% | ||
| Q3 24 | 38.6% | 10.8% | ||
| Q2 24 | 40.1% | 11.1% | ||
| Q1 24 | 39.0% | 10.4% |
| Q4 25 | 5.6% | — | ||
| Q3 25 | 4.8% | — | ||
| Q2 25 | 13.0% | — | ||
| Q1 25 | 1.7% | 2.0% | ||
| Q4 24 | 8.2% | 2.7% | ||
| Q3 24 | 3.3% | 2.5% | ||
| Q2 24 | 9.5% | 2.9% | ||
| Q1 24 | 6.2% | 1.2% |
| Q4 25 | 4.1% | 1.1% | ||
| Q3 25 | 3.5% | 1.4% | ||
| Q2 25 | 9.8% | 2.8% | ||
| Q1 25 | 1.6% | 1.5% | ||
| Q4 24 | 6.1% | 2.0% | ||
| Q3 24 | 3.1% | 1.9% | ||
| Q2 24 | 7.2% | 2.1% | ||
| Q1 24 | 5.1% | 0.9% |
| Q4 25 | $0.11 | $0.43 | ||
| Q3 25 | $0.09 | $0.64 | ||
| Q2 25 | $0.25 | $1.38 | ||
| Q1 25 | $0.03 | $0.58 | ||
| Q4 24 | $0.15 | $0.81 | ||
| Q3 24 | $0.07 | $0.85 | ||
| Q2 24 | $0.16 | $0.97 | ||
| Q1 24 | $0.11 | $0.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $253.4M | $204.9M |
| Total DebtLower is stronger | — | $16.6B |
| Stockholders' EquityBook value | $418.2M | $6.1B |
| Total Assets | $1.4B | $25.6B |
| Debt / EquityLower = less leverage | — | 2.74× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $253.4M | $204.9M | ||
| Q3 25 | $262.2M | $540.4M | ||
| Q2 25 | $234.8M | $262.8M | ||
| Q1 25 | $214.4M | $247.0M | ||
| Q4 24 | $197.5M | $271.9M | ||
| Q3 24 | $177.7M | $524.7M | ||
| Q2 24 | $174.2M | $218.9M | ||
| Q1 24 | $233.2M | $574.1M |
| Q4 25 | — | $16.6B | ||
| Q3 25 | — | $17.8B | ||
| Q2 25 | — | $18.0B | ||
| Q1 25 | — | $18.1B | ||
| Q4 24 | — | $18.1B | ||
| Q3 24 | — | $18.1B | ||
| Q2 24 | — | $18.2B | ||
| Q1 24 | — | $18.0B |
| Q4 25 | $418.2M | $6.1B | ||
| Q3 25 | $400.4M | $6.2B | ||
| Q2 25 | $385.6M | $6.3B | ||
| Q1 25 | $348.8M | $6.2B | ||
| Q4 24 | $343.7M | $6.2B | ||
| Q3 24 | $320.6M | $6.2B | ||
| Q2 24 | $309.3M | $6.2B | ||
| Q1 24 | $285.6M | $6.1B |
| Q4 25 | $1.4B | $25.6B | ||
| Q3 25 | $1.4B | $27.1B | ||
| Q2 25 | $1.3B | $27.4B | ||
| Q1 25 | $1.3B | $27.4B | ||
| Q4 24 | $1.2B | $27.3B | ||
| Q3 24 | $1.2B | $27.3B | ||
| Q2 24 | $1.2B | $27.2B | ||
| Q1 24 | $1.2B | $27.2B |
| Q4 25 | — | 2.74× | ||
| Q3 25 | — | 2.87× | ||
| Q2 25 | — | 2.86× | ||
| Q1 25 | — | 2.91× | ||
| Q4 24 | — | 2.92× | ||
| Q3 24 | — | 2.93× | ||
| Q2 24 | — | 2.95× | ||
| Q1 24 | — | 2.96× |
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 | $9.3M | $1.3B |
| Free Cash FlowOCF − Capex | $-8.8M | $1.1B |
| FCF MarginFCF / Revenue | -2.4% | 19.2% |
| Capex IntensityCapex / Revenue | 5.0% | 2.4% |
| Cash ConversionOCF / Net Profit | 0.62× | 20.14× |
| TTM Free Cash FlowTrailing 4 quarters | $59.0M | $1.9B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.3M | $1.3B | ||
| Q3 25 | $46.1M | $785.5M | ||
| Q2 25 | $34.9M | $299.5M | ||
| Q1 25 | $46.5M | $146.4M | ||
| Q4 24 | $31.7M | $-23.4M | ||
| Q3 24 | $31.1M | $619.1M | ||
| Q2 24 | $47.5M | $-117.7M | ||
| Q1 24 | $36.8M | $309.6M |
| Q4 25 | $-8.8M | $1.1B | ||
| Q3 25 | $28.0M | $654.0M | ||
| Q2 25 | $20.9M | $162.8M | ||
| Q1 25 | $18.9M | $18.8M | ||
| Q4 24 | $13.0M | $-150.6M | ||
| Q3 24 | $4.6M | $509.9M | ||
| Q2 24 | $11.3M | $-221.6M | ||
| Q1 24 | $10.9M | $199.8M |
| Q4 25 | -2.4% | 19.2% | ||
| Q3 25 | 8.1% | 9.9% | ||
| Q2 25 | 5.8% | 2.2% | ||
| Q1 25 | 6.1% | 0.3% | ||
| Q4 24 | 3.7% | -2.4% | ||
| Q3 24 | 1.4% | 7.3% | ||
| Q2 24 | 3.6% | -3.1% | ||
| Q1 24 | 3.7% | 3.6% |
| Q4 25 | 5.0% | 2.4% | ||
| Q3 25 | 5.3% | 2.0% | ||
| Q2 25 | 3.9% | 1.8% | ||
| Q1 25 | 8.9% | 2.1% | ||
| Q4 24 | 5.4% | 2.0% | ||
| Q3 24 | 8.3% | 1.6% | ||
| Q2 24 | 11.7% | 1.5% | ||
| Q1 24 | 8.8% | 2.0% |
| Q4 25 | 0.62× | 20.14× | ||
| Q3 25 | 3.77× | 8.24× | ||
| Q2 25 | 1.00× | 1.42× | ||
| Q1 25 | 9.53× | 1.63× | ||
| Q4 24 | 1.49× | -0.19× | ||
| Q3 24 | 3.14× | 4.66× | ||
| Q2 24 | 2.14× | -0.77× | ||
| Q1 24 | 2.44× | 6.16× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARHS
| Sales Channel Retail | $305.7M | 84% |
| Sales Channel E Commerce | $59.2M | 16% |
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% |
