• CarMax average operating margin for 2023 was 2.64%, a 30.16% decline from 2022.
• CarMax average operating margin for 2022 was 3.78%, a 36.04% decline from 2021.
• CarMax average operating margin for 2021 was 5.91%, a 6.87% decline from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.