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Side-by-side financial comparison of Ecolab (ECL) 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 $4.1B, roughly 1.4× Ecolab). Ecolab runs the higher net margin — 10.6% vs 1.1%, a 9.6% gap on every dollar of revenue. On growth, Ecolab posted the faster year-over-year revenue change (10.0% vs -6.9%). Over the past eight quarters, CarMax's revenue compounded faster (1.5% CAGR vs 1.0%).
Ecolab Inc., headquartered in Saint Paul, Minnesota, provides products related to water treatment, sanitation, and hygiene, primarily to commercial and industrial 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.
ECL vs KMX — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.1B | $5.8B |
| Net Profit | $432.6M | $62.2M |
| Gross Margin | — | 10.2% |
| Operating Margin | 15.3% | — |
| Net Margin | 10.6% | 1.1% |
| Revenue YoY | 10.0% | -6.9% |
| Net Profit YoY | 1.3% | -50.4% |
| EPS (diluted) | $1.52 | $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.
| Q2 26 | $4.1B | — | ||
| Q4 25 | $4.2B | $5.8B | ||
| Q3 25 | $4.2B | $6.6B | ||
| Q2 25 | $4.0B | $7.5B | ||
| Q1 25 | $3.7B | $6.0B | ||
| Q4 24 | $4.0B | $6.2B | ||
| Q3 24 | $4.0B | $7.0B | ||
| Q2 24 | $4.0B | $7.1B |
| Q2 26 | $432.6M | — | ||
| Q4 25 | $563.9M | $62.2M | ||
| Q3 25 | $585.0M | $95.4M | ||
| Q2 25 | $524.2M | $210.4M | ||
| Q1 25 | $402.5M | $89.9M | ||
| Q4 24 | $472.9M | $125.4M | ||
| Q3 24 | $736.5M | $132.8M | ||
| Q2 24 | $490.9M | $152.4M |
| Q2 26 | — | — | ||
| Q4 25 | 44.0% | 10.2% | ||
| Q3 25 | 44.8% | 10.9% | ||
| Q2 25 | 44.8% | 11.8% | ||
| Q1 25 | 44.2% | 11.1% | ||
| Q4 24 | 43.3% | 10.9% | ||
| Q3 24 | 43.4% | 10.8% | ||
| Q2 24 | 43.8% | 11.1% |
| Q2 26 | 15.3% | — | ||
| Q4 25 | 17.0% | — | ||
| Q3 25 | 18.3% | — | ||
| Q2 25 | 17.6% | — | ||
| Q1 25 | 15.0% | 2.0% | ||
| Q4 24 | 14.6% | 2.7% | ||
| Q3 24 | 26.1% | 2.5% | ||
| Q2 24 | 16.5% | 2.9% |
| Q2 26 | 10.6% | — | ||
| Q4 25 | 13.4% | 1.1% | ||
| Q3 25 | 14.0% | 1.4% | ||
| Q2 25 | 13.0% | 2.8% | ||
| Q1 25 | 10.9% | 1.5% | ||
| Q4 24 | 11.8% | 2.0% | ||
| Q3 24 | 18.4% | 1.9% | ||
| Q2 24 | 12.3% | 2.1% |
| Q2 26 | $1.52 | — | ||
| Q4 25 | $1.98 | $0.43 | ||
| Q3 25 | $2.05 | $0.64 | ||
| Q2 25 | $1.84 | $1.38 | ||
| Q1 25 | $1.41 | $0.58 | ||
| Q4 24 | $1.65 | $0.81 | ||
| Q3 24 | $2.58 | $0.85 | ||
| Q2 24 | $1.71 | $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 | $519.8K | $204.9M |
| Total DebtLower is stronger | $8.5M | $16.6B |
| Stockholders' EquityBook value | $10.0M | $6.1B |
| Total Assets | $25.0M | $25.6B |
| Debt / EquityLower = less leverage | 0.85× | 2.74× |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $519.8K | — | ||
| Q4 25 | $646.2M | $204.9M | ||
| Q3 25 | $2.0B | $540.4M | ||
| Q2 25 | $1.9B | $262.8M | ||
| Q1 25 | $1.2B | $247.0M | ||
| Q4 24 | $1.3B | $271.9M | ||
| Q3 24 | $1.3B | $524.7M | ||
| Q2 24 | $384.0M | $218.9M |
| Q2 26 | $8.5M | — | ||
| Q4 25 | $7.4B | $16.6B | ||
| Q3 25 | $8.1B | $17.8B | ||
| Q2 25 | $7.5B | $18.0B | ||
| Q1 25 | $7.0B | $18.1B | ||
| Q4 24 | $6.9B | $18.1B | ||
| Q3 24 | $7.0B | $18.1B | ||
| Q2 24 | $7.5B | $18.2B |
| Q2 26 | $10.0M | — | ||
| Q4 25 | $9.8B | $6.1B | ||
| Q3 25 | $9.7B | $6.2B | ||
| Q2 25 | $9.3B | $6.3B | ||
| Q1 25 | $8.9B | $6.2B | ||
| Q4 24 | $8.8B | $6.2B | ||
| Q3 24 | $8.5B | $6.2B | ||
| Q2 24 | $8.3B | $6.2B |
| Q2 26 | $25.0M | — | ||
| Q4 25 | $24.7B | $25.6B | ||
| Q3 25 | $23.9B | $27.1B | ||
| Q2 25 | $23.7B | $27.4B | ||
| Q1 25 | $22.4B | $27.4B | ||
| Q4 24 | $22.4B | $27.3B | ||
| Q3 24 | $22.1B | $27.3B | ||
| Q2 24 | $21.5B | $27.2B |
| Q2 26 | 0.85× | — | ||
| Q4 25 | 0.75× | 2.74× | ||
| Q3 25 | 0.83× | 2.87× | ||
| Q2 25 | 0.81× | 2.86× | ||
| Q1 25 | 0.79× | 2.91× | ||
| Q4 24 | 0.79× | 2.92× | ||
| Q3 24 | 0.82× | 2.93× | ||
| Q2 24 | 0.91× | 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 | — | $1.3B |
| Free Cash FlowOCF − Capex | — | $1.1B |
| FCF MarginFCF / Revenue | — | 19.2% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | — | 20.14× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.9B |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q4 25 | $1.1B | $1.3B | ||
| Q3 25 | $791.3M | $785.5M | ||
| Q2 25 | $701.8M | $299.5M | ||
| Q1 25 | $369.4M | $146.4M | ||
| Q4 24 | $766.7M | $-23.4M | ||
| Q3 24 | $786.7M | $619.1M | ||
| Q2 24 | $611.1M | $-117.7M |
| Q2 26 | — | — | ||
| Q4 25 | $758.0M | $1.1B | ||
| Q3 25 | $529.7M | $654.0M | ||
| Q2 25 | $485.1M | $162.8M | ||
| Q1 25 | $131.5M | $18.8M | ||
| Q4 24 | $407.0M | $-150.6M | ||
| Q3 24 | $550.3M | $509.9M | ||
| Q2 24 | $414.2M | $-221.6M |
| Q2 26 | — | — | ||
| Q4 25 | 18.1% | 19.2% | ||
| Q3 25 | 12.7% | 9.9% | ||
| Q2 25 | 12.1% | 2.2% | ||
| Q1 25 | 3.6% | 0.3% | ||
| Q4 24 | 10.2% | -2.4% | ||
| Q3 24 | 13.8% | 7.3% | ||
| Q2 24 | 10.4% | -3.1% |
| Q2 26 | — | — | ||
| Q4 25 | 7.9% | 2.4% | ||
| Q3 25 | 6.3% | 2.0% | ||
| Q2 25 | 5.4% | 1.8% | ||
| Q1 25 | 6.4% | 2.1% | ||
| Q4 24 | 9.0% | 2.0% | ||
| Q3 24 | 5.9% | 1.6% | ||
| Q2 24 | 4.9% | 1.5% |
| Q2 26 | — | — | ||
| Q4 25 | 1.93× | 20.14× | ||
| Q3 25 | 1.35× | 8.24× | ||
| Q2 25 | 1.34× | 1.42× | ||
| Q1 25 | 0.92× | 1.63× | ||
| Q4 24 | 1.62× | -0.19× | ||
| Q3 24 | 1.07× | 4.66× | ||
| Q2 24 | 1.24× | -0.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ECL
| Product and equipment sales | $3.2B | 78% |
| Service and lease sales | $891.5M | 22% |
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% |
