AZONYSERetail-Auto & Home Supply StoresFiscal year ends August 29
AUTOZONE INC
Financials through Q3 FY2026, quarter ended May 9, 2026Last filing: 10-Q on Jun 12, 2026
$3097.88−22.71 (-0.73%)
Close on Oct 19, 2026
- Market cap
- $52.21B
- P/E (TTM)
- 21.3
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
52.6%−1.0 pts over 5 years
Operating margin
19.1%−0.1 pts over 5 years
Net margin
13.2%−0.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +2.4% | +5.2% | +8.4% | +6.4% | |
| Gross profit | +1.5% | +5.6% | +8.0% | +6.5% | |
| Operating income | -4.7% | +3.3% | +8.3% | +6.3% | |
| Net income | -6.2% | +0.9% | +7.6% | +8.0% | |
| EPS, diluted | -3.1% | +7.3% | +15.0% | +14.9% | |
| Free cash flow | -7.3% | -11.0% | -4.6% | +5.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -71.1% | -133.7% | -61.2% | |
| Return on assets | 14.9% | 14.3% | 13.7% | |
| Current ratio | 0.90 | 1.08 | 0.88 | |
| Debt to equity | -2.75 | -6.28 | -2.58 | |
| Net debt to EBITDA | 2.01× | 1.34× | 2.02× | |
| Interest coverage | 13.6× | 11.6× | 7.4× | |
| Capex to revenue | 4.6% | 3.6% | 7.0% | |
| Diluted shares | 30M | 24M | 17M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Autozone generated $15.79B from operations and spent $20.65B on capital expenditure, dividends and share buybacks. 22% of that went back into the business.
Generated
$15.79B
Used
$20.65B
Capital expenditure$4.49B22%Dividends$00%Share buybacks$16.16B78%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin13.2%
×Asset turnover1.04×
×Equity multiplier-4.47×
=Return on equity, FY2025-61.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 13.2% | 1.04× | -4.47× | -61.2% |
| FY2024 | 14.4% | 1.12× | -3.64× | -58.5% |
| FY2023 | 14.5% | 1.12× | -3.96× | -64.1% |
| FY2022 | 14.9% | 1.09× | -5.58× | -91.1% |
| FY2021 | 14.8% | 1.01× | -10.82× | -162.2% |
| FY2020 | 13.7% | 1.04× | -9.38× | -133.7% |
| FY2019 | 13.6% | 1.23× | -5.95× | -100.0% |
| FY2018 | 11.9% | 1.21× | -6.31× | -90.7% |
| FY2017 | 11.8% | 1.22× | -5.55× | -79.7% |
| FY2016 | 11.7% | 1.27× | -4.79× | -71.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$2.50B
- Cash generatingOperating cash flow above zero$3.12B
- Return on assets improvedROA up on the prior year16.7% → 14.5%
- Earnings backed by cashOperating cash flow above net income$3.12B vs $2.50B
- Less leverageLong-term debt to assets fell52.5% → 45.5%
- Better liquidityCurrent ratio rose0.84 → 0.88
- No dilutionShare count did not rise18M → 17M
- Gross margin improvedGross margin up on the prior year53.09% → 52.62%
- More efficientAsset turnover rose1.16 → 1.10