Autozone Inc (AZO)
Consumer Discretionary · Automotive Retail · US stock · S&P 500 component
$3,270.70
▲ +113.96 (3.61%)
Fair valueFair
$3,320 +1.5% to fair value
$1,660fair band $2,825–$4,024$4,979
Day's range
$3,162.42 – $3,277.41
52-week range
$2,730.65 – $4,040.00
Red flags⚠ Negative equity⚠ Negative equity⚠ Negative equity⚠ Negative equity⚠ Negative equity
About Autozone Inc
AutoZone is a retailer of automotive replacement parts, accessories and maintenance products in the United States, Mexico and Brazil. It sells to do-it-yourself customers through its stores and to repair shops through a commercial programme. The company earns money from retail sales of parts such as batteries, brakes and fluids, and demand tends to be supported by the age of vehicles on the road and the need for repairs.
Trailing twelve-month revenue stands at $20.0 billion, while revenue grew by 5.2% a year over the past three years. Return on invested capital is 48%, alongside an operating margin of 18.0%. Net debt is 2.1 times EBITDA. The company does not currently pay a dividend. On the X-Ray Score, it is rated 49 out of 100.
Price chart
52-wk range $2,730.65 – $4,040.00Volume 208,379Daily, split-adjusted
Vitals
Market cap$55.1B
52-week range$2,730.65 – $4,040.00
Volume (last day)208,379
P/E (TTM)22.5
EBIT / EV yield5.6%
Free-cash-flow yield3.0%
Dividend yieldNo dividend
Revenue (TTM)$20.0B
Net income (TTM)$2.5B
Operating margin18.0%
Return on capital47.7%
Debt incl. leases$9.0B
Cash & securities$254M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$3,320middle half of models $3,091 – $3,471
Fair
+1.5% to fair value
Average of the 12 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Low, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $3,271
Undervalued < $2,825Fair $2,825 – $4,024Overvalued > $4,024
P/E multiple
$3,220
P/S multiple
$3,080
EV/EBITDA multiple
$3,505
EV/EBIT multiple
$3,320
EV/revenue multiple
$3,094
10-year DCF, EBITDA exit
$3,444
5-year DCF, EBITDA exit
$3,492
10-year DCF, revenue exit
$3,406
5-year DCF, revenue exit
$3,464
10-year DCF, growth exit
$2,963
5-year DCF, growth exit
$2,932
Earnings power value
$3,915
Growth the price implies
8.9%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Consumer Discretionary peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
40/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield5.6%
Free-cash-flow yield3.0%
Fair value vs price1.0×
Growth
Weak
43/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)5.2%
EPS growth (3y)7.3%
Growth consistency100%
Profitability
Fair
63/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital47.7%
Operating margin18.0%
Gross profitability49.5%
Financial health
Weak
47/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA2.1×
Interest coverNo interest cost
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+2.4%
Feb '25
+5.4%
May '25
+0.6%
Aug '25
+8.2%
Nov '25
+8.1%
Feb '26
+8.4%
May '26
Revenue against the same quarter a year earlier. Latest quarter revenue $4.8B, diluted EPS $38.07.
Compare with peers
CVNA Carvana Co.50 ORLY O Reilly Automotive In...46Other Automotive Retail companies by X-Ray Score.
SWOT analysis: Autozone Inc
Strengthsinside the company
- Return on invested capital is 47.7%, against a median of 24.2% for sector peers.
- Operating profit covers interest 50x, so debt costs are a small drag.
Weaknessesinside the company
- Altman Z-score of 0.1 is in the zone linked with financial distress in past studies.
Opportunitiesvaluation and setting
- No specific opportunity is visible in our valuation, sector or growth data.
Threatsvaluation and setting
- Our checks raised: Negative equity; Negative equity.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare AZO with peers and sector
Medians of 46 Consumer Discretionary peers and of 46 Consumer Discretionary stocks in our universe.
Largest peers (X-Ray Score): AMZN 42, TSLA 28, HD 40, MCD 53, TJX 55, BKNG 70.
| Metric | AZO | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 49 | 51 | 51 |
| Valuation | 40 | 49 | 49 |
| Growth | 43 | 53 | 53 |
| Profitability | 63 | 52 | 52 |
| Financial health | 46 | 50 | 50 |
| Dividends | – | 52 | 52 |
Sector leaders: highest X-Ray Score in Consumer Discretionary
AZO ranks #26 of 47 in Consumer Discretionary by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for AZO
Each factor is rated by where AZO stands among the 47 Consumer Discretionary stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 3 Good · 10 Average · 7 Bad of 20
Growth: 0 · 2 · 1
Profitability: 2 · 2 · 0
Financial strength: 1 · 2 · 1
Valuation: 0 · 3 · 1
Cash flow: 0 · 0 · 4
Efficiency: 0 · 1 · 0
| Factor | AZO | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +5.2% | Average beats 37% | +6.5% | – | – |
| Revenue growth, last year | +2.4% | Bad beats 27% | +4.9% | +7.4% | ▼ Worse |
| EPS growth, 3 years a year | +7.3% | Average beats 57% | +4.0% | – | – |
| Profitability | |||||
| Gross margin | 51.8% | Good beats 69% | 42.5% | 52.6% | ≈ In line |
| Operating margin | 18.0% | Average beats 66% | 14.9% | 20.1% | ▼ Worse |
| Net margin | 12.4% | Average beats 64% | 11.4% | 14.5% | ▼ Worse |
| Return on invested capital | 47.7% | Good beats 77% | 24.6% | – | – |
| Financial strength | |||||
| Net debt / EBITDA | 2.1x | Average beats 49% | 1.8x | 1.9x | ≈ In line |
| Interest cover | 50.0x | Good beats 76% | 25.3x | 10.9x | ▲ Better |
| Current ratio | 0.89 | Bad beats 29% | 1.10 | 0.84 | ≈ In line |
| Piotroski F-score | 6 / 9 | Average beats 49% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 22.2x | Average beats 46% | 21.1x | 18.5x | ▼ Worse |
| Price / sales | 2.8x | Average beats 41% | 2.1x | 2.8x | ≈ In line |
| EV / EBITDA | 15.0x | Average beats 50% | 15.0x | 13.7x | ≈ In line |
| Free cash flow yield | 3.0% | Bad beats 22% | 4.3% | 4.6% | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | 8.2% | Bad beats 32% | 10.8% | 12.3% | ▼ Worse |
| Cash from operations / net income | 1.24 | Bad beats 26% | 1.37 | 1.25 | ≈ In line |
| Free cash flow growth, 3 years a year | −11.0% | Bad beats 16% | +12.1% | – | – |
| Accruals (lower is better) | −2.8% | Bad beats 22% | −5.3% | – | – |
| Efficiency | |||||
| Days sales outstanding | 14 days | Average beats 50% | 14 days | 11 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 3 Good · ● 8 Average · ● 5 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldBad
Risk models
Altman Z''Bad
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Average
Growth consistencyGood
Balance sheet
Current ratioBad
Net debt / EBITDAAverage
Interest coverGood
Valuation
Fair value vs priceAverage
EBIT / EV yieldAverage
Profitability
Return on invested capitalGood
Operating marginAverage
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 47/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $14.6B | $16.3B | $17.5B | $18.5B | $18.9B |
| Operating income | $2.9B | $3.3B | $3.5B | $3.8B | $3.6B |
| Net income | $2.2B | $2.4B | $2.5B | $2.7B | $2.5B |
| Operating cash flow | $3.5B | $3.2B | $2.9B | $3.0B | $3.1B |
| Operating margin | 20.1% | 20.1% | 19.9% | 20.5% | 19.1% |
| Free cash flow | $2.9B | $2.5B | $2.1B | $1.9B | $1.8B |
| Diluted EPS | $95.19 | $117.19 | $132.36 | $149.55 | $144.87 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
12 bullish · 0 neutral · 4 bearish
Weekly
Bullish
7 bullish · 1 neutral · 4 bearish
Monthly
Bearish
2 bullish · 1 neutral · 5 bearish
Moving averages (daily)
| SMA 10 | 3,050.9 | Bullish |
| EMA 10 | 3,081.8 | Bullish |
| SMA 20 | 2,953.7 | Bullish |
| EMA 20 | 3,007.2 | Bullish |
| SMA 50 | 2,948.0 | Bullish |
| EMA 50 | 2,979.0 | Bullish |
| SMA 100 | 3,006.0 | Bullish |
| EMA 100 | 3,050.8 | Bullish |
| SMA 200 | 3,269.4 | Bullish |
| EMA 200 | 3,208.4 | Bullish |
Oscillators (daily)
| RSI (14) | 73.10 | Bearish |
| MACD (12, 26) | 71.70 | Bullish |
| Momentum (12) | 12.84 | Bullish |
| Stochastic %K (14) | 98.77 | Bearish |
| Williams %R (14) | -1.23 | Bearish |
| CCI (20) | 176.4 | Bearish |
Pivot points (classic, last session)
S3 3,081.3 | S2 3,121.9 | S1 3,196.3 | Pivot 3,236.8 | R1 3,311.3 | R2 3,351.8 | R3 3,426.3 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
ETFs that hold AZO
| ETF | Share of the fund |
|---|---|
| XRT SPDR S&P Retail | 1.39% |
| XLY Consumer Discretionary Select Sector S... | 1.31% |
| VOT Vanguard Mid-Cap Growth | 1.16% |
| FDIS Fidelity MSCI Consumer Discretionary I... | 0.78% |
| USMV iShares MSCI USA Min Vol Factor | 0.74% |
| VCR Vanguard Consumer Discretionary | 0.74% |
| FQAL Fidelity Quality Factor | 0.71% |
| JAVA JPMorgan Active Value | 0.65% |
The eight funds with the largest weight in AZO among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
AZO stock splits
AZO has split its stock 2 times since 1992. The latest was a 2-for-1 split on 21 Apr 1994.
Full AZO stock split history →AZO SEC filings
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Entered a material agreement
8-KSEC EDGAR
Entered a material agreement
424B5SEC EDGAR
424B5
8-KSEC EDGAR
Other events
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.