Consumer Discretionary · Automotive Retail · US stock · price as of 22 Oct 2026
Key indicators
Price
$3,270.70
52-week range
$2,730.65 – $4,040.00
Market cap
$55.1B
P/E (trailing)
22.5×
EV / EBITDA
15.0×
Free-cash-flow yield
3.0%
Dividend yield
–
Revenue (last 12 months)
$20.0B
Revenue growth (3y a year)
5.2%
Operating margin
18.0%
Return on invested capital
47.7%
Net debt / EBITDA
2.1×
Fair value
Fair value (average of valid models)$3,319.54 middle half of models $3,091 – $3,471
Versus priceFair+2% to fair value
P/E multiple
$3,219.56
P/S multiple
$3,079.73
EV/EBITDA multiple
$3,504.94
EV/EBIT multiple
$3,319.82
EV/revenue multiple
$3,094.14
10-year DCF, EBITDA exit
$3,444.01
5-year DCF, EBITDA exit
$3,492.23
10-year DCF, revenue exit
$3,405.83
5-year DCF, revenue exit
$3,463.96
10-year DCF, growth exit
$2,962.83
5-year DCF, growth exit
$2,932.42
Earnings power value
$3,914.98
Model uncertainty
Low
X-Ray Score
49/ 100 · High confidence · ahead of 45% of sector peers
Valuation40
Growth43
Profitability63
Financial health46
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
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.
StocksXray gives Autozone Inc an X-Ray Score of 49 out of 100 (high confidence), ahead of 45% of the S&P 500 stocks in its sector. Its strongest lens is profitability (63) and its weakest is valuation (40).
Our fair value (the average of the valid models) is $3,319.54 (range $3,090.54 to $3,471.02). At $3,270.70 the stock trades 1% below that value, so the label is "Fair" with low model uncertainty. Fair value is a range, not a price target.
XStocksXray
Autozone Inc (AZO)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$1,548.49
$2,163.02
$2,453.40
$3,181.48
$4,198.53
$3,270.70
Market cap
$35.3B
$44.8B
$46.9B
$56.6B
$72.4B
$55.1B
P/E
16.3×
18.5×
18.5×
21.3×
29.0×
22.5×
EV / revenue
2.7×
3.1×
3.1×
3.5×
4.3×
3.2×
EV / EBITDA
11.8×
13.7×
13.7×
15.1×
19.2×
15.0×
Price / free cash flow
12.2×
17.7×
21.9×
29.3×
40.4×
33.7×
Free-cash-flow yield
8.2%
5.7%
4.6%
3.4%
2.5%
3.0%
Price / book
–
–
–
–
–
–
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 3 Good · ● 8 Average · ● 5 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−2.8%Bad
Free-cash-flow yield3.0%Bad
Risk models
Altman Z score0.1×Bad
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)7.3%Average
Free-cash-flow growth (3y)−11.0%Bad
Revenue growth (3y)5.2%Average
Growth consistency100%Good
Balance sheet
Current ratio0.9×Bad
Net debt / EBITDA2.1×Average
Interest coverno interest costGood
Valuation
Fair value vs price1.0×Average
EBIT / EV yield5.6%Average
Profitability
Return on invested capital47.7%Good
Operating margin18.0%Average
Gross profitability49.5%Average
Red flags
Negative equity — Book equity is negative
Negative equity — Book equity is negative
Negative equity — Book equity is negative
Negative equity — Book equity is negative
Negative equity — Book equity is negative
XStocksXray
Autozone Inc (AZO)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
14,630
16,252
17,457
18,490
18,939
19,986
Gross profit
7,718
8,473
9,070
9,817
9,966
10,344
Operating income
2,945
3,271
3,474
3,789
3,610
3,602
Net income
2,170
2,430
2,528
2,662
2,498
2,478
Diluted EPS ($)
95.19
117.19
132.36
149.55
144.87
145.41
Free cash flow
2,897
2,539
2,144
1,931
1,790
1,633
Gross margin
52.8%
52.1%
52.0%
53.1%
52.6%
51.8%
Operating margin
20.1%
20.1%
19.9%
20.5%
19.1%
18.0%
Net margin
14.8%
14.9%
14.5%
14.4%
13.2%
12.4%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
14,516
15,275
15,986
17,177
19,355
20,916
Cash
1,171
264
277
298
272
254
Total debt
5,270
6,122
7,669
9,024
8,800
9,016
Equity
-1,798
-3,539
-4,350
-4,750
-3,414
-2,785
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
