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AutoZone key statistics and ratios

In fiscal 2026, AutoZone had a net margin of 12.6%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2010Aug 20102011Aug 20112012Aug 20122013Aug 20132014Aug 20142015Aug 20152016Aug 20162017Aug 20172018Aug 20182019Aug 20192020Aug 20202021Aug 20212022Aug 20222023Aug 20232024Aug 20242025Aug 20252026Aug 2026
Net margin10.0%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%
Return on assets13.3%14.8%15.3%15.5%14.9%14.9%14.9%14.3%14.4%16.8%14.3%15.0%16.3%16.2%16.1%13.7%12.6%
Effective tax rate36.4%35.9%36.0%36.0%35.7%35.6%35.1%33.5%18.3%20.4%21.8%21.1%21.1%20.2%20.2%20.3%20.9%
SG&A as % of revenue32.5%32.5%32.6%32.4%32.8%33.1%33.4%33.6%37.1%35.0%34.5%32.6%32.0%32.1%32.6%33.6%34.0%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

Compare with peers

Head to head: AZO vs GPIAZO vs ORLYAZO vs MUSAABG vs AZO

More: Automotive Retail stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from AutoZone's SEC filings (10-K and 10-Q), retrieved October 27, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to AutoZone.