AN vs. KMX

Last updated Jun 3, 2026

AN (AutoNation, Inc.) and KMX (CarMax, Inc.) are both stocks. Both operate in the Auto & Truck Dealerships industry within the Consumer Cyclical sector. Over the past 10 years, AN returned 14.70%/yr vs -1.58%/yr for KMX. At a 0.47 correlation, their price movements are largely independent.

Performance

AN vs. KMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AutoNation, Inc. (AN) and CarMax, Inc. (KMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AN achieves a -7.45% return, which is significantly lower than KMX's 13.69% return. Over the past 10 years, AN has outperformed KMX with an annualized return of 14.70%, while KMX has yielded a comparatively lower -1.58% annualized return.

AN

• 1D: 1.10%
• 1M: -9.00%
• YTD: -7.45%
• 6M: -7.90%
• 1Y: 5.13%
• 3Y*: 11.04%
• 5Y*: 13.61%
• 10Y*: 14.70%

KMX

• 1D: -2.42%
• 1M: 14.02%
• YTD: 13.69%
• 6M: 13.48%
• 1Y: -31.57%
• 3Y*: -16.20%
• 5Y*: -17.34%
• 10Y*: -1.58%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AN vs. KMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AN AutoNation, Inc.	-7.45%	21.57%	13.09%	39.96%	-8.17%	67.43%	43.51%	36.22%	-30.45%	5.51%
KMX CarMax, Inc.	13.69%	-52.74%	6.54%	26.03%	-53.24%	37.87%	7.74%	39.76%	-2.18%	-0.40%

Correlation

The correlation between AN and KMX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Feb 5, 1997	0.47

The correlation between AN and KMX shifts across timeframes, from 0.47 (all time) to 0.61 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap AN : $6.63B KMX : $6.48B
EPS AN : $18.31 KMX : $1.66
PE Ratio AN : 10.43 KMX : 26.54
PS Ratio AN : 0.26 KMX : 0.25
PB Ratio AN : 2.98 KMX : 1.10
Total Revenue (TTM) AN : $27.49B KMX : $25.88B
Gross Profit (TTM) AN : $4.88B KMX : $2.81B
EBITDA (TTM) AN : $1.46B KMX : $768.58M

Return for Risk

AN vs. KMX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AN

AN Risk / Return Rank: 43
AN Sharpe Ratio Rank: 47
AN Sortino Ratio Rank: 41
AN Omega Ratio Rank: 39
AN Calmar Ratio Rank: 44
AN Martin Ratio Rank: 45

KMX

KMX Risk / Return Rank: 18
KMX Sharpe Ratio Rank: 14
KMX Sortino Ratio Rank: 18
KMX Omega Ratio Rank: 16
KMX Calmar Ratio Rank: 21
KMX Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AN vs. KMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AutoNation, Inc. (AN) and CarMax, Inc. (KMX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AN	KMX	Difference
Sharpe ratio Return per unit of total volatility	0.19	-0.60	+0.79
Sortino ratio Return per unit of downside risk	0.46	-0.53	+0.99
Omega ratio Gain probability vs. loss probability	1.05	0.92	+0.14
Calmar ratio Return relative to maximum drawdown	0.18	-0.56	+0.74
Martin ratio Return relative to average drawdown	0.40	-0.89	+1.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AN vs. KMX - Sharpe Ratio Comparison

The current AN Sharpe Ratio is 0.19, which is higher than the KMX Sharpe Ratio of -0.60. The chart below compares the historical Sharpe Ratios of AN and KMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AN	KMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.19	-0.60	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	-0.39	+0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	-0.04	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.10	+0.12

Drawdowns

AN vs. KMX - Drawdown Comparison

The maximum AN drawdown since its inception was -90.15%, roughly equal to the maximum KMX drawdown of -93.19%. Use the drawdown chart below to compare losses from any high point for AN and KMX.

Drawdown Indicators

	AN	KMX	Difference
Max Drawdown Largest peak-to-trough decline	-90.15%	-93.19%	+3.04%
Max Drawdown (1Y) Largest decline over 1 year	-21.39%	-56.85%	+35.46%
Max Drawdown (3Y) Largest decline over 3 years	-29.54%	-65.38%	+35.84%
Max Drawdown (5Y) Largest decline over 5 years	-29.54%	-80.06%	+50.52%
Max Drawdown (10Y) Largest decline over 10 years	-63.63%	-80.06%	+16.43%
Current Drawdown Current decline from peak	-15.89%	-71.63%	+55.74%
Average Drawdown Average peak-to-trough decline	-38.68%	-31.72%	-6.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.76%	35.78%	-26.02%

Volatility

AN vs. KMX - Volatility Comparison

The current volatility for AutoNation, Inc. (AN) is 9.51%, while CarMax, Inc. (KMX) has a volatility of 13.40%. This indicates that AN experiences smaller price fluctuations and is considered to be less risky than KMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AN	KMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.51%	13.40%	-3.89%
Volatility (6M) Calculated over the trailing 6-month period	20.57%	34.12%	-13.55%
Volatility (1Y) Calculated over the trailing 1-year period	27.65%	52.44%	-24.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.09%	44.16%	-8.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.06%	40.51%	-3.45%

Dividends

AN vs. KMX - Dividend Comparison

Neither AN nor KMX has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

AN vs. KMX - Profitability Comparison

The chart below illustrates the profitability comparison between AutoNation, Inc. and CarMax, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, AutoNation, Inc. reported a gross profit of 1.21B and revenue of 6.55B. Therefore, the gross margin over that period was 18.5%.

KMX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CarMax, Inc. reported a gross profit of 420.20M and revenue of 4.52B. Therefore, the gross margin over that period was 9.3%.

AN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AutoNation, Inc. reported an operating income of 314.30M and revenue of 6.55B, resulting in an operating margin of 4.8%.

KMX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CarMax, Inc. reported an operating income of -339.44M and revenue of 4.52B, resulting in an operating margin of -7.5%.

AN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AutoNation, Inc. reported a net income of 205.40M and revenue of 6.55B, resulting in a net margin of 3.1%.

KMX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CarMax, Inc. reported a net income of -120.68M and revenue of 4.52B, resulting in a net margin of -2.7%.

Frequently Asked Questions

Can I hold both AN and KMX in my portfolio?

AN and KMX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AN or KMX?

KMX has higher volatility (13.40%) compared to AN (9.51%). In terms of maximum drawdown, AN dropped -90.15% vs KMX's -93.19%.

Which has better risk-adjusted returns?

AN currently has the higher Sharpe Ratio (0.19 vs -0.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.