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AutoZone, Inc.

AZO Consumer Cyclical Auto Parts

AutoZone, Inc.’s revenue for fiscal 2026 (year ended August 2026) was $20.3 billion, up 7.39% from fiscal 2025.

Revenue
+5.64%
EPS
+14.3%
Free cash flow
+35.7%
Total debt
+3.17%

Quarter to August 2026, against a year earlier

3,309.71 15.85 −0.48%
Market cap
$53.3B
P/E
21.2×
Fwd P/E
18.7×
Dividend yield
—
F-score
6/9
Altman Z
2.50
Beneish M
−2.49
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2026

  • Auto Parts Stores

Every year since 2008 →

Insider Decisions last twelve months

Bought, $m 1.67
Sold, $m 38.86
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 3 — — — — 1 — — — — — —
Sell — 4 — — 1 — — — 1 — — —
Insider Ownership 2.62%

Capital & Financial Ratios $m

Size
Market Cap 53,260.00
Revenue ttm 20,338.55
Net income ttm 2,572.78
Free cash flow ttm 1,815.53
Net debt Q 8,752.21
Valuation
P/E 21.18
Forward P/E 18.70
Price / sales 2.68
Forward P/S Powerpack
Price / FCF 30.21
Price / book 0.00
Financial health
Current ratio Q 0.90 (below 1: weak)
Debt / equity Q (3.63) (negative: negative equity)
Interest coverage Q 8.86
Growth
Revenue growth Q +5.64% (above 0%: growing)
Operating income growth Q +10.10% (above 0%: growing)
EPS, this year +11.24%
EPS, next year A +12.72%
Revenue, next year A +7.29%
EPS, past 5 yrs +9.89%
EPS, next 5 yrs A +12.32%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.1×, against a ten-year median of 2.9×; over the ten years it ranged from 1.9× in 2017 to 4.3× in 2025.
P/E against its own 10 years 84.78%
10-year low 10-year high
P/S against its own 10 years 66.04%
10-year low 10-year high
EV/Sales against its own 10 years 68.50%
10-year low 10-year high
EV/FCF against its own 10 years 87.39%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 2026
Cash 277 298 272 326
Receivables 520 546 670 755
Inventory 5,764 6,155 7,026 7,736
Other 218 308 374 289
6,779 7,307 8,341 9,106
2023 2024 2025 2026
Payables 7,201 7,356 8,026 8,597
ST’ Debt — — — —
Other — — — —
8,512 8,714 9,519 10,107

Compound Annual Growth %

10y 5y 3y
Sales 6.70% 6.81% 5.22%
Cash Flow 7.07% (1.58%) 3.38%
Earnings 7.56% 3.46% 0.58%
Book Value 0.00% 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q4 FY26 Estimate 54.54 Actual 56.05

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY26 32.24 31.04 Miss by 1.20
Q2 FY26 27.10 27.63 Beat by 0.53
Q3 FY26 36.18 38.07 Beat by 1.89
Q4 FY26 54.54 56.05 Beat by 1.51
Q1 FY27 36.06 — Reports 8 December 2026

EPS $

Nov Feb May Aug Year
’26 — — — — —
’26 31.04 27.63 38.07 56.05 152.55
’25 32.52 28.29 35.36 48.71 144.87
’24 32.55 28.89 36.69 51.58 149.55
’23 27.45 24.64 34.12 46.46 132.36
’22 25.69 22.30 29.03 40.51 117.19
’21 18.61 14.93 26.48 35.72 95.19
Fiscal quarters ending in the months shown.

Revenue $m

Nov Feb May Aug Year
’26 — — — — —
’26 4,629 4,274 4,841 6,595 20,339
’25 4,280 3,952 4,464 6,243 18,939
’24 4,190 3,859 4,235 6,205 18,490
’23 3,985 3,691 4,091 5,691 17,457
’22 3,669 3,370 3,865 5,348 16,252
’21 3,154 2,911 3,651 4,913 14,630
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Nov Feb May Aug Year
’26 — — — — —
’26 944 373 802 1,130 3,249
’25 812 584 769 953 3,117
’24 830 434 669 1,070 3,004
’23 794 354 725 1,068 2,941
’22 778 362 843 1,228 3,211
’21 683 356 1,191 1,288 3,519
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Nov Feb May Aug Year
’26 — — — — —
’26 630 36 456 693 1,816
’25 565 291 423 511 1,790
’24 603 171 434 723 1,931
’23 689 200 554 702 2,144
’22 690 268 695 886 2,539
’21 568 231 1,057 1,071 2,927
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 14.4% a year for ten years. It grew 5.4% a year over the last ten.

Implied
14.4%
10 years, reported
5.4%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to August

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 10,889 11,221 11,864 12,632 14,630 16,252 17,457 18,490 18,939 20,339 +7.2% 21,821 23,355 24,977 +7.1%
Gross margin, % 52.71 53.24 53.65 53.60 52.75 52.13 51.96 53.09 52.62 52.34 (0.4) pt
EBT 1,925 1,636 2,031 2,217 2,749 3,079 3,168 3,337 3,134 3,251 +6.0%
EBT margin, % 17.68 14.58 17.12 17.55 18.79 18.95 18.15 18.05 16.55 15.98 (1.7) pt
Net income 1,281 1,338 1,617 1,733 2,170 2,430 2,528 2,662 2,498 2,573 +8.1%
Per share, $
Per share, $ Revenue 383.00 416.06 475.20 536.62 657.89 808.29 943.12 1,068.25 1,128.04 1,234.06 +13.9%
Earnings 45.05 49.59 64.78 73.62 97.60 120.83 136.60 153.82 148.80 156.11 +14.8%
Cash flow 55.24 77.13 85.26 115.55 158.23 159.70 158.88 173.56 185.68 197.14 +15.2%
Capex (19.38) (19.36) (19.60) (18.95) (26.61) (33.44) (43.04) (61.97) (79.06) (86.98) +18.2%
Free cash flow 35.87 57.77 65.65 96.61 131.62 126.26 115.84 111.58 106.62 110.16 +13.3%
Book value (50.24) (56.37) (68.65) (37.30) (80.84) (176.00) (235.00) (274.40) (203.37) (151.84) +13.1%
Shares, m 28 27 25 24 22 20 19 17 17 16 (5.9%)
Valuation, ×
Valuation, × P/E 11.71 15.45 16.99 16.29 14.67 17.12 17.75 20.39 28.09 19.14 17.8
P/S 1.38 1.84 2.32 2.23 2.28 2.59 2.67 2.94 3.71 2.42 2.4
P/B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
EV/Sales 1.86 2.31 2.78 2.57 2.60 2.97 3.11 3.44 4.18 2.88 2.9
EV/FCF 20.07 16.75 20.27 13.15 11.50 18.82 26.43 33.09 44.49 32.43 23.7
Cash, $m
Cash, $m Operating cash flow 1,571 2,080 2,129 2,720 3,519 3,211 2,941 3,004 3,117 3,249 +8.4%
Capex (551) (522) (489) (446) (592) (672) (797) (1,073) (1,327) (1,434) +11.2%
Free cash flow 1,020 1,558 1,639 2,274 2,927 2,539 2,144 1,931 1,790 1,816 +6.6%
Balance, $m
Balance, $m Working capital (155) (393) (483) 529 (954) (1,960) (1,732) (1,407) (1,178) (1,000) +23.0%
Net debt 4,788 4,788 5,030 3,763 4,098 5,858 7,391 8,726 8,528 8,752 +6.9%
Shareholders’ equity (1,428) (1,520) (1,714) (878) (1,798) (3,539) (4,350) (4,750) (3,414) (2,502) +6.4%
Returns, %
Returns, % ROA 14.34 14.38 16.81 14.25 15.00 16.31 16.18 16.06 13.68 12.55 (1.8) pt
ROIC 38.70 34.63 41.77 52.38 79.98 88.16 71.38 59.55 44.12 37.23 (1.5) pt
ROE (79.66) (90.72) (100.01) (133.73) (162.24) (91.06) (64.10) (58.52) (61.20) (86.97) (7.3) pt
People
People Employees 87,000 90,000 96,000 100,000 100,000 112,000 119,000 126,000 130,000 132,000 +4.7%
Revenue/emp, $m 0.13 0.12 0.12 0.13 0.15 0.15 0.15 0.15 0.15 0.15 +2.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Aug 2026 · latest quarter Aug 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

AutoZone is a retailer and distributor of automotive replacement parts and accessories in the Americas. Founded in 1979 and headquartered in Memphis, it is led by President and Chief Executive Officer Philip B. Daniele III.

It sells new and remanufactured hard parts, maintenance products, accessories and non-automotive items for cars, sport utility vehicles, vans and light-duty trucks. Hard parts are components that replace or repair vehicle systems, such as batteries, brakes, starters, alternators, engines and radiators. Maintenance products include fluids, filters, wipers and related items.

Where the money comes from and where it goes Fiscal 2026

Fiscal 2026: revenue by segment, and margins
Auto Parts Stores 20,339 100.00%
Gross margin 52.34%
Operating margin 18.31%
Pre-tax margin 15.98%

Revenue by segment since 2008

AutoZone, Inc. vs peers in Auto Parts (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ORLY O'Reilly Automotive, Inc. $73.6B 27.8× 26.6× +8.83% (above 0%: growing) +12.94% (above 0%: growing) −20.89% (below 0%: shrinking) 52.39% 21.45% Compare
AZO AutoZone, Inc. $53.3B 21.2× 18.7× +5.64% (above 0%: growing) +14.29% (above 0%: growing) +35.67% (above 0%: growing) 53.34% 19.97%
GPC Genuine Parts Company $17.2B 478× 20.3× +4.17% (above 0%: growing) 0.00% +4.99% (above 0%: growing) 38.09% 5.04% Compare
ALSN Allison Transmission Holdings, Inc. $9.6B 16.6× 13.1× +121.36% (above 0%: growing) +41.10% (above 0%: growing) +86.41% (above 0%: growing) 32.92% 19.82% Compare
BWA BorgWarner Inc. $9.5B 19.5× 10.7× −2.90% (below 0%: shrinking) +58.48% (above 0%: growing) −28.20% (below 0%: shrinking) 18.98% 8.66% Compare
ALV Autoliv, Inc. $8.9B 14.8× 12.7× −0.48% (below 0%: shrinking) −6.99% (below 0%: shrinking) −18.30% (below 0%: shrinking) 18.42% 9.43% Compare
APTV Aptiv PLC $8.3B 11.3× 10.6× +2.30% (above 0%: growing) n/m −56.43% (below 0%: shrinking) 21.57% 8.78% Compare
AUR Aurora Innovation, Inc. $8.1B — (loss-making) — (loss-making) +200.00% (above 0%: growing) n/m −31.21% (below 0%: shrinking) (166.67%) (8,566.67%) Compare
LEA Lear Corporation $5.5B 10.0× 9.1× +1.64% (above 0%: growing) +35.64% (above 0%: growing) −48.40% (below 0%: shrinking) 6.62% 3.41% Compare
Median of peers $9.2B 16.6× 12.7× +3.24% +24.29% −24.54% 20.27% 8.72%

All 55 Auto Parts stocks →

From the latest earnings call

Updated

  • Philip Daniele said AutoZone’s commercial expansion, including hubs and mega hubs, was intended to improve parts availability and service for DIY and commercial customers.
  • Jamere Jackson said AutoZone expected an inflationary operating environment and would manage pricing with suppliers and customers while monitoring ticket trends.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Mizuho Oct 4, 2026 Target cut Hold 3,000.00
Bernstein Oct 4, 2026 Initiated Outperform 3,698.00
Raymond James Sep 28, 2026 Target cut Buy 4,000.00 → 3,700.00
Truist Sep 28, 2026 Target cut Buy 3,817.00 → 3,648.00
JPMorgan Sep 28, 2026 Target cut Outperform 3,850.00 → 3,700.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 95.13%
Held by the ten largest 44.77%
Holder Shares Stake Change
Vanguard 2.02m 12.35% +223.51k
JPMorgan Chase 1.25m 7.68% +110.27k
BlackRock 1.23m 7.55% −11.72k
State Street 718.69k 4.40% +15.80k
Geode Capital Management 416.59k 2.55% +1.90k
T. Rowe Price 400.86k 2.46% +9.86k
Morgan Stanley 398.04k 2.44% −48.10k
Royal Bank of Canada 310.98k 1.90% −14.50k
Norges Bank 283.49k 1.74% +283.49k
UBS 277.46k 1.70% +210.96k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 28 October 2025

Ownership

Directors and executive officers, together 2.60%
Vanguard Group, Inc. 10.65%
BlackRock, Inc. 7.66%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

AutoZone, Inc. (AZO) Latest News

2 Nov

Impact 3 · · Trefis

30 Oct

Impact 3 · · Trefis

29 Oct

Impact 4 · · Trefis
Impact 3 · · Zacks
Impact 3 · · Barchart

27 Oct

Impact 4 · · Simply Wall St.

26 Oct

Impact 3 · · FreightWaves
Impact 3 · · GlobeNewswire

24 Oct

Impact 4 · · Simply Wall St.

23 Oct

Impact 3 · · Zacks
Impact 3 · · Zacks

22 Oct

Impact 3 · · Zacks

21 Oct

Impact 4 · · Trefis
Impact 3 · · GlobeNewswire

20 Oct

Impact 4 · · Trefis
Impact 3 · · packagingdive.com
Impact 3 · · Barchart

16 Oct

Impact 3 · · Zacks

14 Oct

Impact 4 · · StockStory

13 Oct

Impact 3 · · Simply Wall St.

12 Oct

Impact 3 · · Zacks

9 Oct

Impact 3 · · StockStory
Impact 3 · · Simply Wall St.

4 Oct

Impact 3 · · Simply Wall St.

2 Oct

Impact 4 · · supplychaindive.com

30 Sep

Impact 4 · · Zacks

29 Sep

Impact 3 · · Zacks

28 Sep

Impact 3 · · Stocktwits

25 Sep

Impact 4 · · Trefis
Impact 3 · · StockStory

AZO metrics, ten years each

stockrow.com/AZO · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com