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AutoZone (AZO) stock

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NYSE: AZO NYSE Automotive Retail Next results ~December 8, 2026

B Fundamentals grade

AutoZone is a retailer and distributor of automotive parts and related products, sold under its own AutoZone name and private label brands. Alongside its stores, the company operates ALLDATA, a separate business unit, and relies on distribution centres and a network of hubs to supply inventory. It describes a strong emphasis on customer service, which it markets as "WOW! Customer service".

The company serves two broad groups of customers: individual do-it-yourself retail shoppers and commercial buyers such as repair shops and auto dealers, to whom it sells and delivers parts. It earns money from these retail and commercial sales. Around 13% of its purchases were directly imported in fiscal 2025, with the remainder sourced through domestic and international vendors.

AutoZone sells in the United States and internationally, with operations in Mexico and Brazil, where it adapts its range to local vehicles and repair habits. At 30 August 2025 it operated 7,657 stores, up from 6,549 in 2020, and employed approximately 130,000 people, whom it calls AutoZoners.

Based on AutoZone's 10-K filed October 27, 2025.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$1900

Cash-flow model

Base case. Range ~$1300–$2700 across our lower- and higher-growth cases (1.3%–11.3% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 42% below it.

Price used: $3253.01, November 2, 2026

AutoZone valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter AutoZone files

10-K filed October 26: AutoZone

Model value +6.8%

Revenue for the twelve months to August 2026 was $20.3bn, up 7.4% on a year earlier, faster than the 5.7% growth a quarter earlier. Free-cash-flow margin held at 8.9%. The diluted share count is down 2.2% on a year earlier, which lifts each remaining share. Our model value rises from $1,715 to $1,832 a share, against a share price of $3,170. The rating stays Sell. At that price, our model says the market is pricing in about 14.3% a year of cash-flow growth for five years, faster than the 6.8% a year revenue growth it has delivered.

Source: 10-K filed October 26, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed June 12: AutoZone

Revenue for the twelve months to May 2026 reached $20.3bn, up 7.4% on a year earlier and faster than the 5.7% recorded a quarter before. Free cash flow margin held at 8.9%. With the diluted share count down 2.2% on a year earlier, each remaining share counts for more. That combination lifts the fundamentals grade from C+ to B. Our model value is little changed at $1,715 a share, well below the $3,209 share price, so the rating stays Sell. At that price, the model implies the market expects about 14.9% a year of cash flow growth for five years, running ahead of the 6.8% a year revenue growth the company has actually delivered.

10-Q on SEC EDGAR

Where AutoZone stands after its latest 10-Q

Revenue for the twelve months to May 2026 was $20.0bn, up 5.7% on a year earlier, faster than 5.0% a quarter earlier. Free-cash-flow margin fell to 8.2% from 10.6% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 1 of our 3 financial-health checks. Our cash-flow model value is $1,677 a share, against a share price of $3,155. At that price, our model says the market is pricing in about 14.7% a year of cash-flow growth for five years, faster than the 6.4% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 8, 2026 (estimated)

AutoZone's trailing-twelve-month revenue grew 7.4% year on year, with a free-cash-flow margin of 8.9%. Where it stands out: gross margin of 52.3% ranks 1 of 20 automotive retail companies we cover. Where it lags: long-term debt as % of assets of 42.0% ranks 17 of 19 automotive retail companies we cover.

Our discounted-cash-flow model values the business at ~$1900 per share in the base case (~$1300–$2700 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 7.4% (+1.7pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 2.2% in a year, so each share owns more of the business.

Things to watch

  • Priced above our value. The share price of $3,253.01 is 42% above our value per share of $1,900.
  • Weak cash conversion. Free cash flow was 71% of net income over the last 12 months.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 42.0% ranks 17 of 19 automotive retail companies we cover (median 28.4%).
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 0.7% ranks 19 of 22 automotive retail companies we cover (median 0.3%).

Latest results: FY2026 Q4

Filed October 26, 2026
Earnings per share
$56.05 against an average estimate of $53.89: beat by 4.0%
Revenue
$6.59bn, up 5.6% on a year earlier
Share reaction
+1.4% in the first session after the results on September 22, 2026, against -0.7% for the S&P 500
Next report
December 8, 2026; average EPS estimate $35.45

AutoZone's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.6%
  • 1 week+2.0%
  • 1 month+16.5%
  • This year-4.1%
  • 1 year-11.5%
  • 5 years+81.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$20.3B
Operating margin
18.3%
Net margin
12.6%
EPS (TTM, diluted)
$152.55

Growth

Revenue growth
+7.4%
Change in growth rate
+1.7 pts
Share count change
−2.2%

Cash

Free cash flow (TTM)
$1.8B
FCF margin
8.9%
Stock pay % of revenue
0.7%

Earnings

Last results
September 22, 2026
Next results (est.)
December 8, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Leadership
  3. Leadership
  4. Results
  5. Insider trade
  6. Agreement
  7. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

AutoZone valuation models and calculator

What the price is pricing in

The share price implies about 14.5% a year of cash-flow growth for five years.That is faster than the 6.8% a year revenue growth AutoZone has delivered.

  • Priced in14.5%
  • Last 12 months7.4%
  • 3 years a year5.2%
  • 5 years a year6.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($3235.85, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$1900
Price used
$3235.85close November 3, 2026
Implied change
▼ 42%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of AutoZone's free cash flow after stock-based pay with after-tax interest added back ($1.8B, FY2026 Q4 TTM), growing 7% and 6.6% in the next two years (forecasts, guidance and its record), then back to 6.3% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$1300–~$2700 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of AutoZone's free cash flow after stock-based pay ( $1.8B, FY2026 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value AutoZone as an operating company, with every model that fits that kind of business. Cost of equity 7.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.65 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$1900 ~$1300–$2700 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$2300 ~$1600–$3500 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$2000 ~$1900–$2300 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare AutoZone with Automotive Retail in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −32%
  • Revenue growth 5 points higher ▲ +41%
  • Free-cash-flow margin 1 point lower ▼ −14%
  • Last year's free-cash-flow margin change, if it persists ▼ −7%
  • Discount rate 1 point higher ▼ −19%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $1081$1661$2431$3445$4767$6476
8.5% $699$1120$1675$2401$3343$4556
10% $469$795$1222$1777$2495$3415

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$753.47$528.95$770.52$1101.69$1189.12$1548.49$2163.02$2453.40$3181.48$4198.53$2961.96
Market value$23.0bn$15.4bn$21.1bn$28.1bn$28.6bn$35.3bn$44.8bn$46.9bn$56.6bn$72.4bn$50.0bn
+ Net debt (− = net cash)$4.8bn$4.8bn$4.8bn$5.1bn$3.8bn$4.1bn$5.9bn$7.4bn$8.8bn$8.6bn$8.8bn
Enterprise value$27.7bn$20.2bn$25.9bn$33.1bn$32.4bn$39.4bn$50.7bn$54.3bn$65.4bn$81.0bn$58.8bn
Multiples
Price / sales 2.2x1.4x1.9x2.4x2.3x2.4x2.8x2.7x3.1x3.8x2.5x
Price / earnings 18.5x12.0x15.8x17.4x16.5x16.3x18.5x18.5x21.3x29.0x19.4x
Price / free cash flow 19.9x15.1x13.6x17.2x12.7x12.2x17.7x21.9x29.3x40.4x27.5x
EV / EBITDA 11.8x8.4x12.0x12.8x11.5x11.8x13.7x13.7x15.1x19.2x13.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

85 /100

Strong moat

How hard AutoZone's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 22.9% of total assets over 10 years.

  • Pricing power 18 / 20

    Gross margin has been a median 52.7%, moving by 0.6 percentage points (standard deviation) across 10 years.

  • Durability 16 / 20

    Operating margin has been a median 19.1%; its worst year was 16.1%.

  • Cash conversion 17 / 20

    Free cash flow was positive in 10 of 10 years, at a median 13.0% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 26.0% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (90 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: December 8, 2026, before the open. Analysts expect revenue of $4.9bn and EPS of $35.45 (range $31.47 to $39.20) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $169.37 +11% $21.8bn +7%
Next $191.11 +13% $23.4bn +7%

Next year's EPS estimate has moved −2.4% in 90 days, across 24 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −3.5% on 90 days ago. In the last 30 days, 2 analysts raised AutoZone's forecast and 20 cut it.

Consensus EPS forecast AutoZone, last 90 days
$160.00 $170.00 $180.00 $190.00 $200.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $175.47 Current fiscal year, 60 days ago: $175.07 Current fiscal year, 30 days ago: $170.09 Current fiscal year, 7 days ago: $169.56 Current fiscal year, Now: $169.37 $169.37 Next fiscal year, 90 days ago: $195.79 Next fiscal year, 60 days ago: $195.45 Next fiscal year, 30 days ago: $190.52 Next fiscal year, 7 days ago: $191.30 Next fiscal year, Now: $191.11 $191.11

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $175.47$195.79
60 days ago $175.07$195.45
30 days ago $170.09$190.52
7 days ago $169.56$191.30
Now $169.37$191.11

Earnings against estimates

Quarter toEstimateActualSurprise
Aug 2026 $53.89 $56.05 +4.0%
May 2026 $36.17 $38.07 +5.3%
Feb 2026 $27.29 $27.63 +1.2%
Nov 2025 $32.35 $31.04 −4.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 22, 2026

No numeric guidance in AutoZone's latest earnings release (filed September 22, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows AutoZone's revenue by +7.0% next year and +6.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+7.3%, weight 70%) and the company's own record (+6.3%, weight 30%) . How the weights are set.

Analyst recommendations

27 analysts, Oct 2026
Buy2385%
Hold415%
Sell00%

Monthly trend

  1. Oct 2026518427
  2. Sep 2026519428
  3. Aug 2026518427
  4. Jul 2026518427

Counts of recommendations published by analysts covering AutoZone, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.0%
of tradable shares
Days to cover
1.71
at average volume
Short interest, 1 month
+16%
to October 15, 2026
Held by institutions
99%
of shares
Held by insiders
0.2%
of shares
Employees
79,200
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −11.5%

$3674.43 on October 31, 2025 to $3253.01

ThenNowEffect
Revenue (last 12 months) $18.9bn $20.3bn +7.4%
Net margin 13.2% 12.6% −4.1%
P/E multiple 25.4x 21.3x −15.9%
Share count 17m 17m +2.3%

Biggest factor: p/e multiple.

Last 3 years +26.4%

$2574.54 on November 3, 2023 to $3253.01

ThenNowEffect
Revenue (last 12 months) $17.5bn $20.3bn +16.5%
Net margin 14.5% 12.6% −12.7%
P/E multiple 19.5x 21.3x +9.6%
Share count 19m 17m +13.3%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AZO+77%+18%+5%+24%+6%−4%
Industry peers (median)+38%−25%+21%−3%−17%−10%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AZO75%50%50%67%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AZO−13%−21%−16%−15%−22%−28%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 42% from December 10, 2019 to March 23, 2020. Getting back needed a 73% gain, reached on September 2, 2020, 163 days after the low.

Price behaviour

52-week range
$2792.03 – $3967.95
From 52-week high
−18.0%
vs 50-day average
+9.5%
vs 200-day average
−0.2%
Volatility (1 year)
30%
Beta vs S&P 500
0.13

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±4.2%
After a week
5 up, 7 down
typical move ±4.9%
After a month
5 up, 7 down
typical move ±7.8%
Results releasedNext dayS&P 500 next day5 days21 days
September 22, 2026 +1.4% −0.7% +2.6% +12.6%
May 26, 2026 −11.1% +0.6% −11.1% −10.2%
March 3, 2026 −4.3% −0.2% −4.0% −11.7%
December 9, 2025 −9.2% +0.6% −9.3% −9.2%
September 23, 2025 +1.4% −0.9% +4.1% −3.0%
May 27, 2025 −2.1% +1.5% −2.1% −8.0%
March 4, 2025 +2.2% −0.1% +2.4% +9.5%
December 10, 2024 +0.6% +0.5% −0.1% −2.5%
September 24, 2024 +2.0% +0.1% +4.1% +4.8%
May 21, 2024 −5.2% 0.0% −6.3% +2.3%
February 27, 2024 +8.7% +0.1% +12.0% +15.2%
December 5, 2023 +1.7% −0.4% −0.1% −4.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How AutoZone’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.43× the last 60 days’ realised volatility .
  • Calls are priced 2 points richer than puts (25-delta): demand for upside is high, which favours selling calls over puts.
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

AZO AutoZone Grade B $3,248.06

Own 100 shares, sell the $3,380 call expiring December 18, 2026 (46 days) for $117.5 a share — $11,750 per contract.

Previous session · Bid $117.5, ask $140.2, quoted Mon 2 Nov, 17:15 New York time with AZO at $3,248.06. Option prices move with the shares: check the live chain at your broker before trading.

  • If AZO ends below $3,380: you keep your shares and the $11,750 — 3.6% extra on the position, 28.7% a year at that pace.
  • If it ends above $3,380: your shares are sold at $3,380, a total return of 7.7% including the premium — at or above our value of ~$1900.
$24.9k $0 −$62.6k Break-even $3,130.56 Price $3,248.06 ← Our value ~$1900
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$11,750
Annualised
28.7%
Break-even
$3,130.56
Max gain
$24,943.99
Chance of selling
~44%

Results are expected around December 8, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Own the shares, buy the $3,000 put and sell the $3,380 call, both expiring December 18, 2026 (46 days).

  • Net credit of $40.70 a share ($4,070 per contract of 100 shares).
  • Worst case at expiry: -6.4%, if the shares fall below $3,000 (-7.6% from today).
  • Best case at expiry: +5.3%, if the shares rise above $3,380 (+4.1%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $1,900: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

AutoZone in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) AutoZone
$17B $18B $19B $20B $21B FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $17.7B Revenue (TTM), FY24 Q2: $17.8B Revenue (TTM), FY24 Q3: $18B Revenue (TTM), FY24 Q4: $18.5B Revenue (TTM), FY25 Q1: $18.6B Revenue (TTM), FY25 Q2: $18.7B Revenue (TTM), FY25 Q3: $18.9B Revenue (TTM), FY25 Q4: $18.9B Revenue (TTM), FY26 Q1: $19.3B Revenue (TTM), FY26 Q2: $19.6B Revenue (TTM), FY26 Q3: $20B Revenue (TTM), FY26 Q4: $20.3B $20.3B

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $17.7B
FY24 Q2 $17.8B
FY24 Q3 $18B
FY24 Q4 $18.5B
FY25 Q1 $18.6B
FY25 Q2 $18.7B
FY25 Q3 $18.9B
FY25 Q4 $18.9B
FY26 Q1 $19.3B
FY26 Q2 $19.6B
FY26 Q3 $20B
FY26 Q4 $20.3B
Revenue growth, TTM YoY AutoZone
0% 2% 4% 6% 8% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: 6.6% Revenue growth, TTM YoY, FY24 Q2: 5.6% Revenue growth, TTM YoY, FY24 Q3: 5.0% Revenue growth, TTM YoY, FY24 Q4: 5.9% Revenue growth, TTM YoY, FY25 Q1: 5.2% Revenue growth, TTM YoY, FY25 Q2: 4.7% Revenue growth, TTM YoY, FY25 Q3: 5.2% Revenue growth, TTM YoY, FY25 Q4: 2.4% Revenue growth, TTM YoY, FY26 Q1: 3.8% Revenue growth, TTM YoY, FY26 Q2: 5.0% Revenue growth, TTM YoY, FY26 Q3: 5.7% Revenue growth, TTM YoY, FY26 Q4: 7.4% 7.4%

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 6.6%
FY24 Q2 5.6%
FY24 Q3 5.0%
FY24 Q4 5.9%
FY25 Q1 5.2%
FY25 Q2 4.7%
FY25 Q3 5.2%
FY25 Q4 2.4%
FY26 Q1 3.8%
FY26 Q2 5.0%
FY26 Q3 5.7%
FY26 Q4 7.4%
Operating margin (TTM) AutoZone
18% 19% 20% 21% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: 20.4% Operating margin (TTM), FY24 Q2: 20.6% Operating margin (TTM), FY24 Q3: 20.7% Operating margin (TTM), FY24 Q4: 20.5% Operating margin (TTM), FY25 Q1: 20.4% Operating margin (TTM), FY25 Q2: 20.1% Operating margin (TTM), FY25 Q3: 19.6% Operating margin (TTM), FY25 Q4: 19.1% Operating margin (TTM), FY26 Q1: 18.4% Operating margin (TTM), FY26 Q2: 18.1% Operating margin (TTM), FY26 Q3: 18.0% Operating margin (TTM), FY26 Q4: 18.3% 18.3%

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 20.4%
FY24 Q2 20.6%
FY24 Q3 20.7%
FY24 Q4 20.5%
FY25 Q1 20.4%
FY25 Q2 20.1%
FY25 Q3 19.6%
FY25 Q4 19.1%
FY26 Q1 18.4%
FY26 Q2 18.1%
FY26 Q3 18.0%
FY26 Q4 18.3%
FCF margin (TTM) AutoZone
8% 9% 10% 11% 12% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: 11.7% FCF margin (TTM), FY24 Q2: 11.4% FCF margin (TTM), FY24 Q3: 10.6% FCF margin (TTM), FY24 Q4: 10.4% FCF margin (TTM), FY25 Q1: 10.2% FCF margin (TTM), FY25 Q2: 10.8% FCF margin (TTM), FY25 Q3: 10.6% FCF margin (TTM), FY25 Q4: 9.5% FCF margin (TTM), FY26 Q1: 9.6% FCF margin (TTM), FY26 Q2: 8.2% FCF margin (TTM), FY26 Q3: 8.2% FCF margin (TTM), FY26 Q4: 8.9% 8.9%

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 11.7%
FY24 Q2 11.4%
FY24 Q3 10.6%
FY24 Q4 10.4%
FY25 Q1 10.2%
FY25 Q2 10.8%
FY25 Q3 10.6%
FY25 Q4 9.5%
FY26 Q1 9.6%
FY26 Q2 8.2%
FY26 Q3 8.2%
FY26 Q4 8.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar AutoZone took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $20.3B
  2. Cost of revenue $9.7B · 47.7%
  3. Gross profit $10.6B · 52.3%
  4. Selling, general and admin $6.9B · 34.0%
  5. Operating income $3.7B · 18.3%
  6. Income tax $678M · 3.3%
  7. Interest and other $473M · 2.3%
  8. Net income $2.6B · 12.6%

Shares of revenue. Source: AutoZone's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Aug 2010 2011 Aug 2011 2012 Aug 2012 2013 Aug 2013 2014 Aug 2014 2015 Aug 2015 2016 Aug 2016 2017 Aug 2017 2018 Aug 2018 2019 Aug 2019 2020 Aug 2020 2021 Aug 2021 2022 Aug 2022 2023 Aug 2023 2024 Aug 2024 2025 Aug 2025 2026 Aug 2026
Income
Revenue 7.4 8.1 8.6 9.1 9.5 10.2 10.6 10.9 11.2 11.9 12.6 14.6 16.3 17.5 18.5 18.9 20.3
Gross profit 3.7 4.1 4.4 4.7 4.9 5.3 5.6 5.7 6.0 6.4 6.8 7.7 8.5 9.1 9.8 10.0 10.6
EBITDA 1.5 1.7 1.8 2.0 2.1 2.2 2.4 2.4 2.2 2.6 2.8 3.4 3.7 4.0 4.3 4.2 4.4
Operating income 1.3 1.5 1.6 1.8 1.8 2.0 2.1 2.1 1.8 2.2 2.4 2.9 3.3 3.5 3.8 3.6 3.7
Net income 0.7 0.8 0.9 1.0 1.1 1.2 1.2 1.3 1.3 1.6 1.7 2.2 2.4 2.5 2.7 2.5 2.6
Diluted EPS $14.97 $19.47 $23.48 $27.79 $31.57 $36.03 $40.70 $44.07 $48.77 $63.43 $71.93 $95.19 $117.19 $132.36 $149.55 $144.87 $152.55
Growth (year on year)
Revenue +8.0% +9.6% +6.6% +6.3% +3.6% +7.5% +4.4% +2.4% +3.1% +5.7% +6.5% +15.8% +11.1% +7.4% +5.9% +2.4% +7.4%
EBITDA +11.4% +11.9% +8.9% +8.7% +4.1% +6.8% +6.1% +1.9% −10.3% +20.0% +8.9% +19.1% +10.8% +7.0% +9.2% −2.7% +4.4%
Operating income +12.2% +13.3% +9.0% +8.9% +3.2% +6.7% +5.5% +1.0% −12.9% +22.4% +9.1% +21.8% +11.1% +6.2% +9.1% −4.7% +3.1%
Net income +12.4% +15.0% +9.6% +9.3% +5.2% +8.5% +7.0% +3.2% +4.4% +20.9% +7.2% +25.2% +11.9% +4.1% +5.3% −6.2% +3.0%
Diluted EPS +27.6% +30.1% +20.6% +18.4% +13.6% +14.1% +13.0% +8.3% +10.7% +30.1% +13.4% +32.3% +23.1% +12.9% +13.0% −3.1% +5.3%
Margins
Gross margin 50.4% 51.0% 51.5% 51.8% 52.1% 52.3% 52.7% 52.7% 53.2% 53.7% 53.6% 52.8% 52.1% 52.0% 53.1% 52.6% 52.3%
EBITDA margin 20.5% 20.9% 21.4% 21.9% 22.0% 21.8% 22.2% 22.1% 19.2% 21.8% 22.3% 22.9% 22.8% 22.8% 23.5% 22.3% 21.7%
Operating margin 17.9% 18.5% 18.9% 19.4% 19.3% 19.2% 19.4% 19.1% 16.1% 18.7% 19.1% 20.1% 20.1% 19.9% 20.5% 19.1% 18.3%
Net margin 10.0% 10.5% 10.8% 11.1% 11.3% 11.4% 11.7% 11.8% 11.9% 13.6% 13.7% 14.8% 14.9% 14.5% 14.4% 13.2% 12.6%
Free-cash-flow margin 12.0% 12.0% 9.8% 10.9% 9.5% 10.7% 10.8% 9.3% 13.9% 13.8% 17.9% 19.8% 15.6% 12.3% 10.4% 9.5% 8.9%
Cash flow
Cash from operations 1.2 1.3 1.2 1.4 1.3 1.6 1.6 1.6 2.1 2.1 2.7 3.5 3.2 2.9 3.0 3.1 3.2
Capital spending 0.3 0.3 0.4 0.4 0.4 0.5 0.5 0.6 0.5 0.5 0.5 0.6 0.7 0.8 1.1 1.3 1.4
Free cash flow 0.9 1.0 0.8 1.0 0.9 1.1 1.2 1.0 1.6 1.6 2.3 2.9 2.5 2.1 1.9 1.8 1.8
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1
Free cash flow after stock pay 0.9 0.9 0.8 1.0 0.9 1.1 1.1 1.0 1.5 1.6 2.2 2.8 2.5 2.1 1.8 1.7 1.7
Balance sheet
Cash 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.2 0.2 1.8 1.2 0.3 0.3 0.3 0.3 0.3
Total debt 2.9 3.4 3.8 4.2 4.5 4.6 4.9 5.1 5.0 5.2 5.6 5.3 6.2 7.7 9.1 8.8 9.1
Net debt (negative = net cash) 2.8 3.3 3.7 4.0 4.4 4.5 4.8 4.8 4.8 5.1 3.8 4.1 5.9 7.4 8.8 8.6 8.8
Diluted shares 49m 44m 40m 37m 34m 32m 30m 29m 27m 25m 24m 23m 21m 19m 18m 17m 17m
Returned to shareholders
Buybacks 1.1 1.5 1.4 1.4 1.1 1.3 1.5 1.1 1.6 2.0 0.9 3.4 4.4 3.7 3.1 1.6 2.0
Total returned 1.1 1.5 1.4 1.4 1.1 1.3 1.5 1.1 1.6 2.0 0.9 3.4 4.4 3.7 3.1 1.6 2.0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 3 checks passed · August 29, 2026
What it owns · $21.6bn
Short-term assets $9.1bnLonger-term assets $12.5bn
What it owes, and who funded it · $10.1bn
Short-term liabilities $10.1bnShareholders' equity $-2.5bn
  • Short-term assets cover short-term liabilities $9.1bn of assets due within a year against $10.1bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $326m of cash against $9.1bn of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $3.2bn of operating cash flow against $9.1bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From AutoZone's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q4 TTM
Buybacks (TTM)
$2B
Returned to shareholders
111%
of free cash flow
Buybacks, last 3 fiscal years
$6.7B
Diluted share count
−2.2%
year over year
Total shareholder yield
3.8%
dividends 0.0% + buybacks 3.8% of market value
Sales & admin spending
34.0%
of revenue
Days sales outstanding
14 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in automotive retail
Last 12 months unless stated AZO GPI ORLY MUSA ABG SAH Median
Revenue, last 12 months $20.3bn $21.8bn $18.6bn $23.3bn $17.6bn $15.5bn $8.6bn
Revenue growth, last 12 months 7.4% −3.4% 8.5% 20.2% −1.3% 2.0% −0.8%
Revenue growth, 3-year average 5.2% 7.6% 6.9% 2.1% 6.2% 2.5% 2.1%
Revenue growth, latest quarter 5.6% −6.7% 8.1% 34.8% −8.1% 0.4% 1.2%
Gross margin 52.3% 15.9% 51.6% — 17.1% 15.7% 23.4%
Operating margin 18.3% 3.6% 19.6% 4.2% 4.2% 3.2% 3.7%
Operating margin, 3-year average 19.3% 4.0% 19.5% 3.9% 4.7% 2.9% 4.0%
Net margin 12.6% 1.7% 14.3% 2.9% 2.7% 1.3% 1.3%
Cash from operations / revenue 16.0% 2.2% 17.7% 4.9% 4.4% 0.3% 2.5%
Free-cash-flow margin 8.9% 1.0% 11.6% 2.9% 3.9% 0.6% 1.1%
Free-cash-flow margin, 3-year average 9.6% 1.0% 11.4% 2.3% 3.6% 2.2% 2.2%
Stock pay / revenue 0.7% 0.1% 0.2% 0.1% 0.1% 0.2% 0.3%
Change in share count −2.2% −7.7% −6.5% −6.6% −5.0% −4.2% −1.1%

Median of all 23 companies we cover in automotive retail. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

23 automotive retail companies
Measure Company Peer median Rank
Revenue growth Growth 7.4% -0.8% 7 of 23
Change in growth rate Growth +1.7pp -0.5pp 8 of 23
Gross margin Profitability 52.3% 27.7% 1 of 20
Operating margin Profitability 18.3% 3.7% 2 of 21
Net margin Profitability 12.6% 1.3% 2 of 23
Free-cash-flow margin Cash generation 8.9% 1.1% 3 of 23
Stock pay as % of revenue Cash generation 0.7% 0.3% 19 of 22
Long-term debt as % of assets Balance sheet 42.0% 28.4% 17 of 19
Change in share count Balance sheet -2.2% -1.1% 8 of 19
Days sales outstanding Balance sheet 14 days 9 days 10 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to August 29, 2026
Geography
Region Revenue Share YoY
United States $17.6B 86.6% ▲ 5.7%
Outside the US $2.7B 13.4% ▲ 20.2%

From AutoZone's 10-K filed October 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$49.8B
Institutions reporting
1,265
Shares held vs prior quarter
▲ 5.8%
Positions opened / closed
102 / 127

Top buyers and sellers, Q2 2026: 515 institutions bought and 594 sold ; the biggest buyer was Vanguard Portfolio Management LLC (+220K shares) and the biggest seller Morgan Stanley (−48K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Jpmorgan Chase & Co $4B 1.3M 7.9% ▲ 9.6%
Blackrock, Inc. $3.9B 1.2M 7.9% ▼ 0.9%
Vanguard Capital Management LLC $3.4B 1.1M 6.9% ▲ 0.2%
Vanguard Portfolio Management LLC $2.4B 765K 4.9% ▲ 40.2%
State Street Corp $2.3B 719K 4.6% ▲ 2.2%
Geode Capital Management, LLC $1.3B 417K 2.7% ▲ 0.5%
Price T Rowe Associates Inc $1.3B 401K 2.6% ▲ 2.5%
Morgan Stanley $1.3B 398K 2.6% ▼ 10.8%
Royal Bank Of Canada $994M 311K 2.0% ▼ 4.5%
Norges Bank $906M 283K 1.8% —
First Manhattan Co. Llc. $838M 262K 1.7% ▲ 0.1%
FMR LLC $785M 246K 1.6% ▼ 14.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not AutoZone's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $1.7M 4 trades by 3 insiders, last 12 months Insider sales History → $38.9M 7 trades by 4 insiders · 0% under pre-set plans
Net ▼ $37.2M net selling
Insider Date Trade Shares Price Value
Leriche Dennis W. Sr. Vice President August 7, 2026 Sell 1,455 $3100.00 $4.5M
Hannasch Brian Director May 29, 2026 Buy 165 $2987.00 $492,855
Graves Earl G Jr Director April 10, 2026 Sell 50 $3478.72 $173,936
Smith Richard Craig Sr. Vice President January 23, 2026 Sell 5,910 $3700.00 $21.9M
Smith Richard Craig Sr. Vice President January 16, 2026 Sell 3,190 $3500.00 $11.2M
Graves Earl G Jr Director January 2, 2026 Sell 250 $3295.00 $823,750
Mrkonic George R Jr Director January 2, 2026 Sell 96 $3341.97 $320,829
Mrkonic George R Jr Director January 2, 2026 Sell 1 $3344.57 $2,709
George Michael A Director December 22, 2025 Buy 145 $3398.13 $492,729
Hannasch Brian Director December 18, 2025 Buy 147 $3393.09 $498,784
Jackson Jamere CFO December 10, 2025 Buy 55 $3413.50 $187,742

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 46 trades and filings

In the last 12 months, 2 members of Congress disclosed 2 purchases and 3 sales of AutoZone shares.

  • Rick W. Allen(R-GA 12):Sale (full), $15,001 - $50,000, traded September 22, 2026, filed October 14, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded May 29, 2026, filed June 8, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded January 30, 2026, filed February 13, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around December 8, 2026 estimated from the company's past filing pattern, not announced

  • September 22, 2026
  • May 26, 2026
  • March 3, 2026
  • December 9, 2025
  • September 23, 2025
  • May 27, 2025

Recent SEC filings

Data status

When each part of this page on AutoZone was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

AutoZone in brief

What does AutoZone do?
AutoZone is a US-listed company in the automotive retail industry. Its financial year ends in August.
What is AutoZone's stock ticker?
AutoZone trades under the ticker AZO on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is AutoZone's revenue, and how fast is it growing?
Over its most recent trailing twelve months, AutoZone reported revenue of $20.3B, 7.4% higher than a year earlier, according to its SEC filings.
What is AutoZone's free cash flow?
AutoZone's free-cash-flow margin is 8.9% of revenue over the trailing twelve months, ranking 3 of the 23 automotive retail companies we cover.
What is AutoZone's fair value (intrinsic value) per share?
Our discounted-cash-flow model of AutoZone's free cash flow after stock-based pay gives ~$1900 per share in the base case, and ~$1300–$2700 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are AutoZone's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Jpmorgan Chase & Co, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is AutoZone buying back stock, and does it pay a dividend?
AutoZone spent $2B on share repurchases over the trailing twelve months, and its diluted share count fell 2.2% over the year.
What is AutoZone's market cap?
On August 28, 2026, AutoZone's market capitalisation was about $50B, with a price-to-earnings ratio of 19.4 and net debt of $8.8B. Market figures come from third-party market data and may be delayed.
Who are AutoZone's competitors?
In our Automotive Retail peer group, the companies closest to AutoZone are Group 1 Automotive Inc, O'Reilly Automotive, Murphy USA Inc., Asbury Automotive Group Inc and Sonic Automotive Inc. The side-by-side comparison below sets their revenue, margins and growth against AutoZone's.
Are insiders buying or selling AutoZone stock?
Over the last 12 months, AutoZone's directors and officers reported 4 open-market purchases and 7 sales on Form 4. The insider trading page charts every trade.
When is AutoZone's next earnings date?
Around December 8, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — AutoZone announces its own schedule.