KMX vs LAD
CarMax Inc. and Lithia Motors Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | KMX | LAD |
|---|---|---|
| Revenue | $25.9B | $37.6B |
| Net income | $247.3M | $819.6M |
| Gross margin | 10.8% | 15.2% |
| Net margin | 1.0% | 2.2% |
| Return on equity | 4.1% | 12.4% |
| Diluted EPS | $1.68 | $32.32 |
| Dividend / share | · | $2.18 |
| Payout ratio | · | 6.7% |
| Free cash flow | $1.2B | $5.8M |
| Equity | · | $6.6B |
| Net debt / equity | 2.95× | 1.41× |
| Current ratio | 2.20× | 1.17× |
| Revenue CAGR 5y | 6.4% | 23.4% |
| Profit CAGR 5y | −19.8% | 11.7% |
LAD bills 1.5× the revenue of KMX, and keeps more of each dollar of revenue as profit (2.2% against 1.0%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | KMX | LAD |
|---|---|---|
| FY2025 | $25.9B | $37.6B |
| FY2024 | $26.4B | $36.2B |
| FY2023 | $26.5B | $31.0B |
| FY2022 | $29.7B | $28.2B |
| FY2021 | $31.9B | $22.8B |
| FY2020 | $19.0B | $13.1B |
| FY2019 | $20.3B | $12.7B |
| FY2018 | $18.2B | $11.8B |
| FY2017 | $17.1B | $10.1B |
| FY2016 | $15.9B | $8.7B |
Bottom line
| Fiscal year | KMX | LAD |
|---|---|---|
| FY2025 | $247.3M | $819.6M |
| FY2024 | $500.6M | $796.7M |
| FY2023 | $479.2M | $1.0B |
| FY2022 | $484.8M | $1.3B |
| FY2021 | $1.2B | $1.1B |
| FY2020 | $746.9M | $470.3M |
| FY2019 | $888.4M | $271.5M |
| FY2018 | $842.4M | $265.7M |
| FY2017 | $664.1M | $245.2M |
| FY2016 | $627.0M | $197.1M |
17 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$11,753,769,000 | LAD |
| FY2024 | −$9,834,780,000 | LAD |
| FY2023 | −$4,506,260,000 | LAD |
| FY2022 | +$1,497,100,000 | KMX |
| FY2021 | +$9,068,712,000 | KMX |
| FY2020 | +$5,823,649,000 | KMX |
| FY2019 | +$7,647,300,000 | KMX |
| FY2018 | +$6,351,700,000 | KMX |
| FY2017 | +$7,033,709,000 | KMX |
| FY2016 | +$7,196,918,000 | KMX |
| FY2015 | +$7,285,423,000 | KMX |
| FY2014 | +$8,878,390,000 | KMX |
| FY2013 | +$8,568,550,000 | KMX |
| FY2012 | +$7,646,331,000 | KMX |
| FY2011 | +$7,370,853,000 | KMX |
| FY2010 | +$6,938,932,000 | KMX |
| FY2009 | +$5,741,564,000 | KMX |
The higher-revenue side has changed between KMX and LAD over this period. The gap has widened since the earliest year compared.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
17 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −1.2 pp | LAD |
| FY2024 | −0.4 pp | LAD |
| FY2023 | −1.5 pp | LAD |
| FY2022 | −2.8 pp | LAD |
| FY2021 | −1.0 pp | LAD |
| FY2020 | +0.4 pp | KMX |
| FY2019 | +2.2 pp | KMX |
| FY2018 | +2.4 pp | KMX |
| FY2017 | +1.4 pp | KMX |
| FY2016 | +1.7 pp | KMX |
| FY2015 | +1.8 pp | KMX |
| FY2014 | +1.6 pp | KMX |
| FY2013 | +1.3 pp | KMX |
| FY2012 | +1.5 pp | KMX |
| FY2011 | +1.9 pp | KMX |
| FY2010 | +3.5 pp | KMX |
| FY2009 | +3.2 pp | KMX |
The higher net margin has changed hands between KMX and LAD over this period.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
KMX's net margin has been more volatile than LAD's over the 17 comparable fiscal years — 1.1 percentage points of standard deviation against 1.0.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between KMX and LAD over these 17 fiscal years — KMX led in 12 and LAD in 5.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
LAD's return on equity has been more volatile than KMX's over the 17 comparable fiscal years — 7.0 percentage points of standard deviation against 6.0.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between KMX and LAD over these 17 fiscal years — KMX led in 4 and LAD in 13.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.