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AutoZone

AZO NYSE Automotive Retail Financials FY2016–FY2025

AutoZone's revenue rose 2.4% to $18.9 billion in fiscal 2025. Its operating margin was 19.1%, down from 20.5% a year earlier. Free cash flow was $1.8 billion, down 7.3%. It paid out $1.6 billion in dividends and buybacks, 88% of free cash flow. The diluted share count fell 3.1%.

Last close · Oct 23, 2026

$3,200.76

2.1%
Value it Compare
Revenue Total sales reported in the income statement.
$18.9B
2.4% vs prior year
Operating margin Operating income as a share of revenue.
19.1%
1.4 pts
Net income Profit after all expenses, interest and tax.
$2.5B
6.2%
Free cash flow Cash from operations minus capital spending.
$1.8B
7.3%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
58.2%
20.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$54.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
22.0x
On $145.44 EPS (TTM)

What AutoZone does

No business description yet.

Legal name
AUTOZONE INC
Fiscal year ends
August 30, 2025
Latest annual report
—
Accession · CIK
0001104659-25-102611
0000866787

Revenue and margins

AutoZone had $18.9B of revenue in fiscal 2025, up 2.4% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 15.2% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $1.8B in fiscal 2025, 9.5% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

AutoZone returned $1.6B to shareholders in fiscal 2025, 88% of free cash flow. The diluted share count fell 3.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value AutoZone yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$8.9B and divides by 17.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 22.0x · peers 16.3x · sector 17.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably AutoZone can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $1.2B$264M$277M$298M$272M
Debt incl. finance leases $5.5B$6.4B$8.0B$9.4B$9.2B
Net debt / EBITDA 1.3x1.7x1.9x2.1x2.1x
Interest coverage 14.6x16.5x10.9x8.1x7.4x
Current ratio 0.9x0.8x0.8x0.8x0.9x
Quick ratio 0.2x0.1x0.1x0.1x0.1x
Total assets $14.5B$15.3B$16.0B$17.2B$19.4B
Total liabilities $16.3B$18.8B$20.3B$21.9B$22.8B
Shareholders' equity −$1.8B−$3.5B−$4.3B−$4.7B−$3.4B
Net debt (− = net cash) $4.4B$6.2B$7.7B$9.1B$8.9B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$1.7M

3 insiders

Sold, 12 months

$40.0M

5 insiders

Of sales under plans

3%

$1.1M

DateInsiderTradeSharesPriceValueFiling
Aug 7, 2026 Dennis W. LeRicheSr. Vice President Sold 1,455 $3,100.00 $4.5M Form 4
May 29, 2026 Brian HannaschDirector Bought 165 $2,987.00 $0.5M Form 4
Apr 10, 2026 Earl G Graves JrDirector Sold 50 $3,478.72 $0.2M Form 4
Jan 23, 2026 Richard Craig SmithSr. Vice President Sold 5,910 $3,700.00 $21.9M Form 4
Jan 16, 2026 Richard Craig SmithSr. Vice President Sold 3,190 $3,500.00 $11.2M Form 4
Jan 2, 2026 Earl G Graves JrDirector Sold 250 $3,295.00 $0.8M Form 4
Jan 2, 2026 George R Mrkonic JrDirector Sold 97 $3,341.99 $0.3M Form 4
Dec 22, 2025 Michael A GeorgeDirector Bought 145 $3,398.13 $0.5M Form 4
Dec 18, 2025 Brian HannaschDirector Bought 147 $3,393.09 $0.5M Form 4
Dec 10, 2025 Jamere JacksonCFO Bought 55 $3,413.50 $0.2M Form 4
Oct 27, 2025 Borninkhof K. MichelleSenior Vice President & CIO Sold plan 300 $3,775.00 $1.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✓
Current ratio rose ✓ ✓ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✕ ✓ ✕
Revenue rose relative to assets ✓ ✓ ✕
F-score 6 / 98 / 96 / 9
Accruals ratio −2.6%−2.1%−3.4%
Altman Z'' −0.08−0.120.03

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
AutoZone AZO $54.1B 2.4% 19.1% 9.5% 58.2% 22.0x 6
Murphy USA MUSA $9.9B −4.3% 3.7% 1.9% 20.5% 16.3x 5 Compare →
Asbury Automotive Group ABG $3.2B 4.7% 4.8% — 9.2% 6.4x 6 Compare →
O'Reilly Automotive ORLY $74.5B 6.4% 19.5% 9.0% 59.7% 28.5x 7 Compare →
Carvana CVNA $42.8B 48.6% 9.3% 4.4% 24.6% — 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $10.6B $10.9B $11.2B $11.9B $12.6B $14.6B $16.3B $17.5B $18.5B $18.9B
Gross profit $5.6B $5.7B $6.0B $6.4B $6.8B $7.7B $8.5B $9.1B $9.8B $10.0B
Operating income $2.1B $2.1B $1.8B $2.2B $2.4B $2.9B $3.3B $3.5B $3.8B $3.6B
Interest expense $151M $159M $182M $194M $208M $202M $199M $320M $465M $490M
Pretax income $1.9B $1.9B $1.6B $2.0B $2.2B $2.7B $3.1B $3.2B $3.3B $3.1B
Income tax $672M $645M $299M $414M $484M $579M $650M $639M $675M $636M
Net income $1.2B $1.3B $1.3B $1.6B $1.7B $2.2B $2.4B $2.5B $2.7B $2.5B
Diluted EPS $40.70 $44.07 $48.77 $63.43 $71.93 $95.19 $117.19 $132.36 $149.55 $144.87
Diluted shares 0.03B 0.03B 0.03B 0.03B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B
Cash flow
Cash from operations $1.6B $1.6B $2.1B $2.1B $2.7B $3.5B $3.2B $2.9B $3.0B $3.1B
Capital expenditure $489M $554M $522M $496M $458M $622M $672M $797M $1.1B $1.3B
Free cash flow $1.2B $1.0B $1.6B $1.6B $2.3B $2.9B $2.5B $2.1B $1.9B $1.8B
Depreciation and amortization $297M $323M $345M $370M $398M $408M $442M $498M $550M $613M
Stock-based compensation $39.8M $38.2M $43.7M $43.3M $44.8M $56.1M $70.6M $93.1M $106M $125M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $1.5B $1.1B $1.6B $2.0B $931M $3.4B $4.4B $3.7B $3.1B $1.6B
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $1.5B $1.1B $1.6B $2.0B $931M $3.4B $4.4B $3.7B $3.1B $1.6B
Balance sheet
Cash and short-term investments $190M $293M $218M $176M $1.8B $1.2B $264M $277M $298M $272M
Total debt $4.9B $5.1B $5.0B $5.2B $5.5B $5.3B $6.1B $7.7B $9.0B $8.8B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $223M $276M $310M $288M $399M $400M
Current assets $4.2B $4.6B $4.6B $5.0B $6.8B $6.4B $6.6B $6.8B $7.3B $8.3B
Current liabilities $4.7B $4.8B $5.0B $5.5B $6.3B $7.4B $8.6B $8.5B $8.7B $9.5B
Inventory $3.6B $3.9B $3.9B $4.3B $4.5B $4.6B $5.6B $5.8B $6.2B $7.0B
Property and equipment, net $3.7B $4.0B $4.2B $4.4B $4.5B $4.9B $5.2B $5.6B $6.2B $7.1B
Total assets $8.6B $9.3B $9.3B $9.9B $14.4B $14.5B $15.3B $16.0B $17.2B $19.4B
Total liabilities $10.4B $10.7B $10.9B $11.6B $15.3B $16.3B $18.8B $20.3B $21.9B $22.8B
Shareholders' equity −$1.8B −$1.4B −$1.5B −$1.7B −$878M −$1.8B −$3.5B −$4.3B −$4.7B −$3.4B
Margins
Gross margin 52.7% 52.7% 53.2% 53.7% 53.6% 52.8% 52.1% 52.0% 53.1% 52.6%
Operating margin 19.4% 19.1% 16.1% 18.7% 19.1% 20.1% 20.1% 19.9% 20.5% 19.1%
EBITDA margin 22.2% 22.1% 19.2% 21.8% 22.3% 22.9% 22.9% 22.8% 23.5% 22.3%
Net margin 11.7% 11.8% 11.9% 13.6% 13.7% 14.8% 15.0% 14.5% 14.4% 13.2%
FCF margin 10.8% 9.3% 13.9% 13.8% 17.9% 19.8% 15.6% 12.3% 10.5% 9.5%
Returns
Return on capital — 43.9% 44.7% 53.7% 58.9% 81.8% 99.2% 93.1% 78.5% 58.2%
Return on capital employed 56.5% 49.5% 41.1% 50.9% 38.6% 38.5% 47.3% 49.1% 47.6% 39.5%
Return on assets 14.9% 14.3% 14.4% 16.8% 14.3% 15.0% 16.3% 16.2% 16.1% 13.7%
Growth
Revenue growth 4.4% 2.4% 3.1% 5.7% 6.5% 15.8% 11.1% 7.4% 5.9% 2.4%
Net income growth 7.0% 3.2% 4.4% 20.9% 7.2% 25.2% 12.0% 4.1% 5.3% −6.2%
EPS growth 13.0% 8.3% 10.7% 30.1% 13.4% 32.3% 23.1% 12.9% 13.0% −3.1%
FCF growth 5.5% −11.8% 53.3% 4.8% 38.6% 28.0% −12.4% −15.5% −9.9% −7.3%
Share count change −5.3% −4.7% −5.7% −7.0% −5.5% −5.4% −9.1% −7.9% −6.8% −3.1%
Financial health
Net debt / EBITDA 2.0x 2.0x 2.2x 2.0x 1.4x 1.3x 1.7x 1.9x 2.1x 2.1x
Interest coverage 13.7x 13.1x 10.0x 11.4x 11.6x 14.6x 16.5x 10.9x 8.1x 7.4x
Current ratio 0.9x 1.0x 0.9x 0.9x 1.1x 0.9x 0.8x 0.8x 0.8x 0.9x
Quick ratio 0.1x 0.2x 0.1x 0.1x 0.4x 0.2x 0.1x 0.1x 0.1x 0.1x
Capital allocation
Capex / revenue 4.6% 5.1% 4.7% 4.2% 3.6% 4.3% 4.1% 4.6% 5.8% 7.0%
Stock comp / revenue 0.4% 0.4% 0.4% 0.4% 0.4% 0.4% 0.4% 0.5% 0.6% 0.7%
Payouts / FCF 126.1% 105.4% 102.2% 122.8% 41.2% 116.6% 171.7% 172.5% 162.6% 88.2%
Quality scores
Piotroski F-score — 6.0 6.0 7.0 8.0 5.0 6.0 6.0 8.0 6.0
Altman Z'' 0.5 0.7 0.5 0.6 1.0 0.7 0.1 −0.1 −0.1 0.0
Accruals ratio −4.8% −3.2% −8.0% −5.3% −8.1% −9.3% −5.3% −2.6% −2.1% −3.4%

Source: SEC EDGAR XBRL filings (CIK 0000866787). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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