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Side-by-side financial comparison of Huntington Ingalls Industries (HII) 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 $3.5B, roughly 1.7× Huntington Ingalls Industries). Huntington Ingalls Industries runs the higher net margin — 4.6% vs 1.1%, a 3.5% gap on every dollar of revenue. On growth, Huntington Ingalls Industries posted the faster year-over-year revenue change (15.7% vs -6.9%). CarMax produced more free cash flow last quarter ($1.1B vs $516.0M). Over the past eight quarters, Huntington Ingalls Industries's revenue compounded faster (11.3% CAGR vs 1.5%).
Huntington Ingalls Industries, Inc. (HII) is the largest military shipbuilding company in the United States as well as a provider of professional services to partners in government and industry. HII was formed on 31 March 2011, as a divestiture from Northrop Grumman.
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.
HII vs KMX — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.5B | $5.8B |
| Net Profit | $159.0M | $62.2M |
| Gross Margin | — | 10.2% |
| Operating Margin | 4.9% | — |
| Net Margin | 4.6% | 1.1% |
| Revenue YoY | 15.7% | -6.9% |
| Net Profit YoY | 29.3% | -50.4% |
| EPS (diluted) | $4.06 | $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 | $3.5B | $5.8B | ||
| Q3 25 | $3.2B | $6.6B | ||
| Q2 25 | $3.1B | $7.5B | ||
| Q1 25 | $2.7B | $6.0B | ||
| Q4 24 | $3.0B | $6.2B | ||
| Q3 24 | $2.7B | $7.0B | ||
| Q2 24 | $3.0B | $7.1B | ||
| Q1 24 | $2.8B | $5.6B |
| Q4 25 | $159.0M | $62.2M | ||
| Q3 25 | $145.0M | $95.4M | ||
| Q2 25 | $152.0M | $210.4M | ||
| Q1 25 | $149.0M | $89.9M | ||
| Q4 24 | $123.0M | $125.4M | ||
| Q3 24 | $101.0M | $132.8M | ||
| Q2 24 | $173.0M | $152.4M | ||
| Q1 24 | $153.0M | $50.3M |
| Q4 25 | — | 10.2% | ||
| Q3 25 | — | 10.9% | ||
| Q2 25 | — | 11.8% | ||
| Q1 25 | — | 11.1% | ||
| Q4 24 | — | 10.9% | ||
| Q3 24 | — | 10.8% | ||
| Q2 24 | — | 11.1% | ||
| Q1 24 | — | 10.4% |
| Q4 25 | 4.9% | — | ||
| Q3 25 | 5.0% | — | ||
| Q2 25 | 5.3% | — | ||
| Q1 25 | 5.9% | 2.0% | ||
| Q4 24 | 3.7% | 2.7% | ||
| Q3 24 | 3.0% | 2.5% | ||
| Q2 24 | 6.3% | 2.9% | ||
| Q1 24 | 5.5% | 1.2% |
| Q4 25 | 4.6% | 1.1% | ||
| Q3 25 | 4.5% | 1.4% | ||
| Q2 25 | 4.9% | 2.8% | ||
| Q1 25 | 5.4% | 1.5% | ||
| Q4 24 | 4.1% | 2.0% | ||
| Q3 24 | 3.7% | 1.9% | ||
| Q2 24 | 5.8% | 2.1% | ||
| Q1 24 | 5.5% | 0.9% |
| Q4 25 | $4.06 | $0.43 | ||
| Q3 25 | $3.68 | $0.64 | ||
| Q2 25 | $3.86 | $1.38 | ||
| Q1 25 | $3.79 | $0.58 | ||
| Q4 24 | $3.15 | $0.81 | ||
| Q3 24 | $2.56 | $0.85 | ||
| Q2 24 | $4.38 | $0.97 | ||
| Q1 24 | $3.87 | $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 | — | $204.9M |
| Total DebtLower is stronger | $2.7B | $16.6B |
| Stockholders' EquityBook value | $5.1B | $6.1B |
| Total Assets | $12.7B | $25.6B |
| Debt / EquityLower = less leverage | 0.53× | 2.74× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $204.9M | ||
| Q3 25 | — | $540.4M | ||
| Q2 25 | — | $262.8M | ||
| Q1 25 | — | $247.0M | ||
| Q4 24 | — | $271.9M | ||
| Q3 24 | — | $524.7M | ||
| Q2 24 | — | $218.9M | ||
| Q1 24 | $10.0M | $574.1M |
| Q4 25 | $2.7B | $16.6B | ||
| Q3 25 | — | $17.8B | ||
| Q2 25 | — | $18.0B | ||
| Q1 25 | — | $18.1B | ||
| Q4 24 | $2.7B | $18.1B | ||
| Q3 24 | — | $18.1B | ||
| Q2 24 | — | $18.2B | ||
| Q1 24 | — | $18.0B |
| Q4 25 | $5.1B | $6.1B | ||
| Q3 25 | $5.0B | $6.2B | ||
| Q2 25 | $4.9B | $6.3B | ||
| Q1 25 | $4.8B | $6.2B | ||
| Q4 24 | $4.7B | $6.2B | ||
| Q3 24 | $4.2B | $6.2B | ||
| Q2 24 | $4.2B | $6.2B | ||
| Q1 24 | $4.1B | $6.1B |
| Q4 25 | $12.7B | $25.6B | ||
| Q3 25 | $12.3B | $27.1B | ||
| Q2 25 | $12.1B | $27.4B | ||
| Q1 25 | $12.1B | $27.4B | ||
| Q4 24 | $12.1B | $27.3B | ||
| Q3 24 | $11.1B | $27.3B | ||
| Q2 24 | $11.3B | $27.2B | ||
| Q1 24 | $11.2B | $27.2B |
| Q4 25 | 0.53× | 2.74× | ||
| Q3 25 | — | 2.87× | ||
| Q2 25 | — | 2.86× | ||
| Q1 25 | — | 2.91× | ||
| Q4 24 | 0.58× | 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 | $650.0M | $1.3B |
| Free Cash FlowOCF − Capex | $516.0M | $1.1B |
| FCF MarginFCF / Revenue | 14.8% | 19.2% |
| Capex IntensityCapex / Revenue | 3.9% | 2.4% |
| Cash ConversionOCF / Net Profit | 4.09× | 20.14× |
| TTM Free Cash FlowTrailing 4 quarters | $794.0M | $1.9B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $650.0M | $1.3B | ||
| Q3 25 | $118.0M | $785.5M | ||
| Q2 25 | $823.0M | $299.5M | ||
| Q1 25 | $-395.0M | $146.4M | ||
| Q4 24 | $391.0M | $-23.4M | ||
| Q3 24 | $213.0M | $619.1M | ||
| Q2 24 | $-9.0M | $-117.7M | ||
| Q1 24 | $-202.0M | $309.6M |
| Q4 25 | $516.0M | $1.1B | ||
| Q3 25 | $13.0M | $654.0M | ||
| Q2 25 | $727.0M | $162.8M | ||
| Q1 25 | $-462.0M | $18.8M | ||
| Q4 24 | $277.0M | $-150.6M | ||
| Q3 24 | $125.0M | $509.9M | ||
| Q2 24 | $-99.0M | $-221.6M | ||
| Q1 24 | $-277.0M | $199.8M |
| Q4 25 | 14.8% | 19.2% | ||
| Q3 25 | 0.4% | 9.9% | ||
| Q2 25 | 23.6% | 2.2% | ||
| Q1 25 | -16.9% | 0.3% | ||
| Q4 24 | 9.2% | -2.4% | ||
| Q3 24 | 4.5% | 7.3% | ||
| Q2 24 | -3.3% | -3.1% | ||
| Q1 24 | -9.9% | 3.6% |
| Q4 25 | 3.9% | 2.4% | ||
| Q3 25 | 3.3% | 2.0% | ||
| Q2 25 | 3.1% | 1.8% | ||
| Q1 25 | 2.5% | 2.1% | ||
| Q4 24 | 3.8% | 2.0% | ||
| Q3 24 | 3.2% | 1.6% | ||
| Q2 24 | 3.0% | 1.5% | ||
| Q1 24 | 2.7% | 2.0% |
| Q4 25 | 4.09× | 20.14× | ||
| Q3 25 | 0.81× | 8.24× | ||
| Q2 25 | 5.41× | 1.42× | ||
| Q1 25 | -2.65× | 1.63× | ||
| Q4 24 | 3.18× | -0.19× | ||
| Q3 24 | 2.11× | 4.66× | ||
| Q2 24 | -0.05× | -0.77× | ||
| Q1 24 | -1.32× | 6.16× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HII
| Aircraftcarriers | $984.0M | 28% |
| Fixedpriceincentive | $758.0M | 22% |
| Submarines | $744.0M | 21% |
| Surfacecombatantsandcoastguardcutters | $452.0M | 13% |
| Amphibiousassaultships | $433.0M | 12% |
| Costtype | $123.0M | 4% |
| Otherprograms | $4.0M | 0% |
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% |
