NYSE: AZO
AutoZone
Consumer Discretionary · Retail-Auto & Home Supply Stores
52-week range
$2,730.65$3,996.25
Stock price
Market cap
At each fiscal year end: closing price × shares outstanding.Figures shown are for FY2026, ended Aug 29, 2026. Hover or tap a column for another year.$47.7B
Show tableHide table
| Period | Market cap |
|---|---|
| FY2017, ended Aug 26, 2017 | $14.5B |
| FY2018, ended Aug 25, 2018 | $19.7B |
| FY2019, ended Aug 31, 2019 | $26.3B |
| FY2020, ended Aug 29, 2020 | $27.6B |
| FY2021, ended Aug 28, 2021 | $32.5B |
| FY2022, ended Aug 27, 2022 | $41.1B |
| FY2023, ended Aug 26, 2023 | $43.4B |
| FY2024, ended Aug 31, 2024 | $53.8B |
| FY2025, ended Aug 30, 2025 | $69.8B |
| FY2026, ended Aug 29, 2026 | $47.7B |
Revenue
By fiscal year.Figures shown are for FY2026, ended Aug 29, 2026. Hover or tap a column for another year.$20.3B
Show tableHide table
| Period | Revenue |
|---|---|
| FY2017, ended Aug 26, 2017 | $10.9B |
| FY2018, ended Aug 25, 2018 | $11.2B |
| FY2019, ended Aug 31, 2019 | $11.9B |
| FY2020, ended Aug 29, 2020 | $12.6B |
| FY2021, ended Aug 28, 2021 | $14.6B |
| FY2022, ended Aug 27, 2022 | $16.3B |
| FY2023, ended Aug 26, 2023 | $17.5B |
| FY2024, ended Aug 31, 2024 | $18.5B |
| FY2025, ended Aug 30, 2025 | $18.9B |
| FY2026, ended Aug 29, 2026 | $20.3B |
Net income and free cash flow
By fiscal year. Free cash flow is operating cash flow minus capex.Figures shown are for FY2026, ended Aug 29, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2017, ended Aug 26, 2017 | $1.28B | $1.02B |
| FY2018, ended Aug 25, 2018 | $1.34B | $1.56B |
| FY2019, ended Aug 31, 2019 | $1.62B | $1.63B |
| FY2020, ended Aug 29, 2020 | $1.73B | $2.26B |
| FY2021, ended Aug 28, 2021 | $2.17B | $2.90B |
| FY2022, ended Aug 27, 2022 | $2.43B | $2.54B |
| FY2023, ended Aug 26, 2023 | $2.53B | $2.14B |
| FY2024, ended Aug 31, 2024 | $2.66B | $1.93B |
| FY2025, ended Aug 30, 2025 | $2.50B | $1.79B |
| FY2026, ended Aug 29, 2026 | $2.57B | $1.82B |
Cash and cash equivalents
At each fiscal year end.Figures shown are for FY2026, ended Aug 29, 2026. Hover or tap a column for another year.$326M
Show tableHide table
| Period | Cash and cash equivalents |
|---|---|
| FY2017, ended Aug 26, 2017 | $293M |
| FY2018, ended Aug 25, 2018 | $218M |
| FY2019, ended Aug 31, 2019 | $176M |
| FY2020, ended Aug 29, 2020 | $1.75B |
| FY2021, ended Aug 28, 2021 | $1.17B |
| FY2022, ended Aug 27, 2022 | $264M |
| FY2023, ended Aug 26, 2023 | $277M |
| FY2024, ended Aug 31, 2024 | $298M |
| FY2025, ended Aug 30, 2025 | $272M |
| FY2026, ended Aug 29, 2026 | $326M |
Total debt
At each fiscal year end. Short- and long-term borrowings, excluding leases.Figures shown are for FY2026, ended Aug 29, 2026. Hover or tap a column for another year.$9.08B
Show tableHide table
| Period | Total debt |
|---|---|
| FY2017, ended Aug 26, 2017 | $5.08B |
| FY2018, ended Aug 25, 2018 | $5.01B |
| FY2019, ended Aug 31, 2019 | $5.21B |
| FY2020, ended Aug 29, 2020 | $5.51B |
| FY2021, ended Aug 28, 2021 | $5.27B |
| FY2022, ended Aug 27, 2022 | $6.12B |
| FY2023, ended Aug 26, 2023 | $7.67B |
| FY2024, ended Aug 31, 2024 | $9.02B |
| FY2025, ended Aug 30, 2025 | $8.80B |
| FY2026, ended Aug 29, 2026 | $9.08B |
Shares outstanding
At each fiscal year end, adjusted for splits. Down 41.5% since 2017.Figures shown are for FY2026, ended Aug 29, 2026. Hover or tap a column for another year.16.1M
Show tableHide table
| Period | Shares outstanding |
|---|---|
| FY2017, ended Aug 26, 2017 | 27.5M |
| FY2018, ended Aug 25, 2018 | 25.6M |
| FY2019, ended Aug 31, 2019 | 23.8M |
| FY2020, ended Aug 29, 2020 | 23.2M |
| FY2021, ended Aug 28, 2021 | 21.0M |
| FY2022, ended Aug 27, 2022 | 19.0M |
| FY2023, ended Aug 26, 2023 | 17.7M |
| FY2024, ended Aug 31, 2024 | 16.9M |
| FY2025, ended Aug 30, 2025 | 16.6M |
| FY2026, ended Aug 29, 2026 | 16.1M |
Buybacks and new shares
By fiscal year, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for FY2026, ended Aug 29, 2026. Hover or tap a column for another year.Net: $1.88B more bought back than issued
Show tableHide table
| Period | Bought back | Paid to employees |
|---|---|---|
| FY2017, ended Aug 26, 2017 | $1.07B | $38.2M |
| FY2018, ended Aug 25, 2018 | $1.59B | $43.7M |
| FY2019, ended Aug 31, 2019 | $2.00B | $43.3M |
| FY2020, ended Aug 29, 2020 | $931M | $44.8M |
| FY2021, ended Aug 28, 2021 | $3.38B | $56.1M |
| FY2022, ended Aug 27, 2022 | $4.36B | $70.6M |
| FY2023, ended Aug 26, 2023 | $3.70B | $93.1M |
| FY2024, ended Aug 31, 2024 | $3.14B | $106M |
| FY2025, ended Aug 30, 2025 | $1.58B | $125M |
| FY2026, ended Aug 29, 2026 | $2.01B | $137M |
Revenue (TTM)
$20.3B
+7.4% YoY
Net income (TTM)
$2.57B
+3.0% YoY
Cash
$326M
+20.0% YoY
Total debt
$9.08B
+3.2% YoY
Valuation
At current price- Market Cap
- $51.0B
- P/E
- 19.8×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 2.5×
- Price / Book
- n/m. Market cap / shareholders' equity
- EV / EBITDA
- 13.6×
Growth
Trailing 12 months- Revenue (TTM)
- $20.3B
- Revenue Growth YoY
- 7.4%
- Revenue CAGR 3Y
- 5.2%
- Revenue CAGR 5Y
- 6.8%
- EPS Growth YoY
- 5.3%
- Net Income Growth YoY
- 3.0%
Profitability
Trailing 12 months- Gross Margin
- 52.3%
- Operating Margin
- 18.3%
- Net Margin
- 12.6%
- FCF Margin
- 8.9%
- Return on Equity
- n/m. Net income (TTM) / average equity
Earnings
Trailing 12 months- Net Income
- $2.57B
- EPS (diluted)
- $152.55
- EBITDA
- $4.41B
- Operating Income
- $3.72B
Balance Sheet
As of Aug 29, 2026- Cash and cash equivalents
- $326M
- Total Debt
- $9.08B
- Net Debt
- $8.75B
- Total Assets
- $21.6B
- Total Liabilities
- $24.1B
- Shareholders' Equity
- −$2.50B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $3.25B
- Capital Expenditure
- $1.43B
- Free Cash Flow
- $1.82B
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 0.40
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 7.4% year over year, at $20.3B.
Note
Net margin of 12.6% over the last 12 months.
Note
Net debt of $8.75B is 2.0× EBITDA.
Note
Free cash flow of $1.82B, 8.9% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Aug 29, 2026 · filed Oct 26, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K56Some concerns
56Some concerns
10-K for the fiscal year ended Aug 30, 2025
Filed Oct 27, 2025 · Read the filing on EDGAR
- Sales rose 2.4% to $18.9 billion, but net income fell 6.2% to $2.5 billion. The prior year had an extra week, and both a weaker peso and an inventory accounting (LIFO) charge hurt results.
- US same-store sales sped up to 3.2% from 0.4%. US sales to repair shops grew 6.7%.
- Buybacks were cut roughly in half to $1.5 billion, below operating cash flow, and debt fell slightly to $8.8 billion.
- New US tariffs and other countries' responses are now a leading risk. The company plans to spend somewhat more on new stores and hub stores in fiscal 2026.
Business momentum
Mixed
“Operating profit decreased 4.7% to $3.6 billion, net income decreased 6.2% to $2.5 billion and diluted earnings per share decreased 3.1% to $144.87 for the year.”
Outlook
Neutral
“During fiscal 2026, we expect to moderately increase the investment in our business as compared to fiscal 2025.”
Financial stress
Low
“As of August 30, 2025, we held $271.8 million of cash and cash equivalents, as well as $2.2 billion in undrawn capacity on our revolving credit facility, without giving effect to commercial paper borrowings.”
Tone against the previous report
About the same
Red flags
None found in this report.
Positives
US same-store sales sped up
“This growth was driven primarily by a domestic same store sales increase of 3.2% and net sales of $374.3 million from new domestic and international stores.”
Sales to repair shops grew strongly
“Domestic commercial sales increased $329.5 million, or 6.7%, compared to fiscal 2024 domestic commercial sales.”
Debt fell and buybacks were funded by cash from operations
“During the year ended August 30, 2025, we repaid our $400 million 3.250% Senior Notes and $500 million 3.625% Senior Notes due April 2025 and issued $500 million of new debt”
Concerns
Operating costs grew faster than sales
“Operating, selling, general and administrative expenses for fiscal 2025 increased to $6.4 billion, or 33.6% of net sales, from $6.0 billion, or 32.6% of net sales for fiscal 2024.”
Return on invested capital fell sharply
“For the fiscal year ended August 30, 2025, our adjusted after-tax return on invested capital ("ROIC"), which is a non-GAAP measure, was 41.3% as compared to 49.7% for the prior year.”
Interest costs keep rising
“Interest expense, net for fiscal 2025 was $475.8 million compared with $451.6 million during fiscal 2024.”
New risks since the previous report
New US tariffs and retaliation by other countries
“During fiscal 2025, new global trade tariffs were announced on imports to the United States, including additional tariffs on various countries from which the Company directly or indirectly imports and/or sources merchandise, including Canada, China and Mexico, among others.”
A weaker Mexican peso cut sales and profit
“fiscal 2025 comparisons were negatively impacted by foreign currency exchange rates which had an unfavorable impact to net sales of $273.1 million and operating profit of $88.2 million.”
Inventory accounting (LIFO) charge reduced gross margin
“The decrease in gross margin was driven by 55 basis points ($64.0 million charge in the current year versus $40.0 million benefit in the prior year) from non-cash LIFO impact.”
Biggest risks named
- Tariffs and trade policy raising product costs
- Weaker consumer demand from inflation and high interest rates
- Wage pressure, staff turnover and possible unionization
- Heavy debt and reliance on supplier payment terms and credit ratings
- Competition from online sellers and other parts retailers
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −3 | |
| Outlook | 0 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −1.5 | |
| Score | 56 | |
Written by AI (Claude Opus 5.5) from the report’s text. 12 of 12 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Oct 26, 2026 | Pro | |||
| 10-K | Oct 27, 2025 | 56 | Mixed | None | |
| 10-K | Oct 28, 2024 | 64 | Improving | None | |
| 10-K | Oct 24, 2023 | 65 | Improving | None | |
| 10-K | Oct 24, 2022 | 62 | Improving | None | |
| 10-K | Oct 25, 2021 | 71 | Strong improvement | None | |
| 10-K | Oct 26, 2020 | 63 | Improving | None | |
| 10-K | Oct 28, 2019 | 73 | Strong improvement | None | |
| 10-K | Oct 24, 2018 | 53 | Mixed | 2 minor | |
| 10-K | Oct 25, 2017 | 53 | Stable | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-K for FY2026 (period ended Aug 29, 2026), filed Oct 26, 2026. View filings on SEC EDGAR