CarMax, Inc. (KMX)
CarMax is the largest US used-car retailer, selling vehicles through stores and an online platform.
Consumer Discretionary stock comparison
KMX vs LEN: which business are you actually underwriting?
Compare CarMax, Inc. with Lennar Corporation using their business models, SEC classifications, fiscal calendars, current primary filings, and the research questions that matter. This is a thesis framework—not a price target or automatic winner.
- Sector
- Consumer
- Industry
- Different SIC
- Shared themes
- 2
- Updated
- 2026-04-15
KMX vs LEN: quick comparison
| Company fact | KMX | LEN |
|---|---|---|
| Company | CarMax, Inc. | Lennar Corporation |
| Exchange | NYSE | NYSE |
| Headquarters | Not recorded | Not recorded |
| Founded | Not recorded | Not recorded |
| SEC industry | Retail-Auto Dealers & Gasoline Stations | General Bldg Contractors - Residential Bldgs |
| Fiscal year-end | February 28 | November 30 |
| Latest annual filing | 10-K · 2026-04-15 | 10-K · 2026-01-28 |
How the businesses differ
Lennar Corporation (LEN)
Lennar builds single-family homes and provides related mortgage and title services across the United States.
The useful starting point is not which ticker has performed better. It is whether the two companies convert the same economic forces into revenue and cash flow in the same way. KMX is classified by the SEC as Retail-Auto Dealers & Gasoline Stations, while LEN is classified as General Bldg Contractors - Residential Bldgs. The different industry codes are a warning against treating sector membership as proof of identical economics.
Which thesis does each company fit?
Use the distinction below to decide which filing deserves deeper work. It is a research routing rule, not a recommendation or prediction.
Study KMX when…
- Real wage growth and consumer confidence
- Interest rates on autos and big-ticket credit
- Inventory cycles and promotional intensity
- The trade-down between premium and value
Study LEN when…
- Real wage growth and consumer confidence
- Interest rates on autos and big-ticket credit
- Inventory cycles and promotional intensity
- The trade-down between premium and value
Shared research themes
US marketsEconomic trends
SEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable.KMX's fiscal year ends February 28, while LEN's ends November 30. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House Clerk snapshot contains 0matched transaction rows for KMXand 0 for LEN. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
KMX primary filings
LEN primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
KMX vs LEN FAQs
Are KMX and LEN direct competitors?
CarMax, Inc. and Lennar Corporation sit in the same Consumer Discretionary sector but have different SEC industry classifications. The comparison is most useful for portfolio role and sector exposure, not as a claim that every product competes directly.
Which is better, KMX or LEN?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this KMX vs LEN comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. Use a regulated broker or licensed quote provider for current prices, then use the primary filings here to test the business thesis.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-08-10. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-08-10. Independent educational research; not investment advice.
Go beyond KMX vs LEN.
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