Carmax vs Penske Automotive Group
Penske Automotive Group is the larger business, with $31.81bn of revenue in fiscal 2025 against $25.88bn for Carmax (1.2 times as much). Penske Automotive Group grew faster (-0.2% against -1.8%). Penske Automotive Group kept more of each dollar of sales as profit: a net margin of 2.9% against 1.0%.
| Latest fiscal year | CarmaxKMX, 2026 | Penske Automotive GroupPAG, 2025 |
|---|---|---|
| Revenue | $25.88bn | $31.81bn |
| Revenue growth | -1.8% | -0.2% |
| Net income | $247m | $935m |
| Operating margin | — | 4.0% |
| Net margin | 1.0% | 2.9% |
| Return on equity | 4.1% | 17.1% |
| Free cash flow | $1.24bn | $651m |
| Cash | $123m | $64.7m |
| Total debt | $18.05bn | $2.17bn |
| Debt to equity | — | 38.9% |
| Dividend per share | — | $5.18 |
| Dividend yield | — | 2.7% |
| Share buybacks | $643m | $159m |
| Employees | 27,796 | 27,700 |
| Market value | $7.62bn | $13.95bn |
| Price vs our value range | — | Above our value range |
| Moat score | 34 (Weak) | 51 (Moderate) |
| Insider trades, 12 months | 5 buys, 0 sales | 0 buys, 3 sales |