O'Reilly Automotive key statistics and ratios

In fiscal 2025, O'Reilly Automotive had an operating margin of 19.5% and a current ratio of 0.77. 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.

O'Reilly Automotive: financial ratios, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Gross margin	48.0%	48.6%	49.0%	50.1%	50.7%	51.4%	52.3%	52.5%	52.6%	52.8%	53.1%	52.4%	52.7%	51.2%	51.3%	51.2%	51.6%	51.6%
Operating margin	11.1%	13.2%	15.0%	15.8%	16.6%	17.6%	19.0%	19.8%	19.2%	19.0%	18.9%	20.8%	21.9%	20.5%	20.2%	19.5%	19.5%	19.6%
Net margin	6.3%	7.8%	8.8%	9.5%	10.1%	10.8%	11.7%	12.1%	12.6%	13.9%	13.7%	15.1%	16.2%	15.1%	14.8%	14.3%	14.3%	14.3%
Free-cash-flow margin	−2.7%	6.3%	13.7%	15.4%	7.7%	10.5%	11.7%	12.0%	10.4%	12.8%	10.6%	20.4%	20.7%	17.9%	12.8%	12.1%	9.0%	11.6%
Return on equity	11.4%	14.2%	16.8%	23.7%	32.9%	39.1%	46.8%	57.8%	99.4%	—	—	—	—	—	—	—	—	—
Return on assets	6.4%	8.5%	9.6%	10.4%	11.3%	12.4%	14.1%	15.0%	15.3%	17.0%	14.9%	15.7%	18.6%	17.8%	17.7%	16.6%	16.2%	15.6%
Asset turnover	1.01	1.10	1.10	1.10	1.13	1.15	1.21	1.24	1.22	1.23	1.09	1.04	1.14	1.18	1.19	1.16	1.13	1.09
Current ratio	1.83	1.87	1.65	1.20	1.17	1.09	0.99	0.96	0.93	0.91	0.86	0.86	0.77	0.71	0.73	0.70	0.77	0.75
Debt to equity	29.4%	11.2%	28.0%	52.2%	71.2%	69.4%	71.4%	116.8%	458.8%	971.8%	984.3%	>999%	—	—	—	—	—	—
Interest cover (operating income ÷ interest)	11.9x	18.1x	30.8x	24.3x	22.5x	23.8x	26.5x	24.0x	18.9x	14.9x	13.7x	15.0x	20.2x	18.7x	15.8x	14.6x	14.7x	14.4x
Effective tax rate	38.1%	39.2%	37.8%	37.8%	36.7%	36.3%	36.2%	36.6%	30.8%	21.8%	22.3%	22.7%	22.2%	22.4%	21.9%	21.6%	21.7%	22.0%
SG&A as % of revenue	36.9%	35.0%	34.1%	34.3%	34.1%	33.8%	33.2%	32.7%	33.4%	33.8%	34.2%	31.6%	30.8%	30.7%	31.1%	31.7%	32.1%	32.1%
Capital spending as % of revenue	8.6%	6.8%	5.7%	4.9%	6.0%	6.0%	5.2%	5.5%	5.2%	5.3%	6.2%	4.0%	3.3%	3.9%	6.4%	6.1%	6.6%	6.1%
Free cash flow ÷ net income	−42.1%	80.7%	155.7%	162.3%	76.4%	97.7%	100.0%	99.7%	82.7%	92.4%	77.7%	135.3%	127.7%	119.0%	86.4%	84.9%	62.8%	81.4%
Dividends and buybacks ÷ free cash flow	—	0.0%	123.5%	152.0%	182.2%	113.9%	122.0%	145.5%	231.7%	140.1%	132.6%	88.0%	89.6%	127.0%	155.4%	102.5%	131.6%	155.5%

US$ thousands unless shown otherwise. Fiscal quarters.

O'Reilly Automotive: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Gross margin	51.6%	51.3%	51.3%	51.4%	51.9%	51.8%	51.5%	51.4%
Operating margin	20.5%	18.0%	17.9%	20.2%	20.7%	18.8%	18.5%	20.2%
Net margin	15.2%	13.5%	13.0%	14.8%	15.4%	13.7%	13.2%	14.6%
Free-cash-flow margin	11.8%	8.2%	11.3%	10.1%	6.5%	8.3%	17.3%	14.3%
Current ratio	0.70	0.70	0.71	0.72	0.76	0.77	0.76	0.75
SG&A as % of revenue	31.0%	33.3%	33.4%	31.2%	31.1%	33.0%	33.0%	31.3%

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

2 of 4 checks passed · June 30, 2026

What it owns · $17.4bn

Short-term assets $7.2bnLonger-term assets $10.2bn

What it owes, and who funded it · $9.6bn

Short-term liabilities $9.6bnShareholders' equity $-1.8bn

Short-term assets cover short-term liabilities $7.2bn of assets due within a year against $9.6bn 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 $262m of cash against $7.0bn 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 $3.3bn of operating cash flow against $7.0bn of debt.
Operating profit covers interest at least five times over Operating income of $3.6bn against $253m of interest.

From O'Reilly Automotive'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 O'Reilly Automotive'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 21.9% of total assets over 10 years.
Pricing power 18 / 20

Gross margin has been a median 52.3%, moving by 0.7 percentage points (standard deviation) across 10 years.
Durability 16 / 20

Operating margin has been a median 19.7%; its worst year was 18.9%.
Cash conversion 16 / 20

Free cash flow was positive in 10 of 10 years, at a median 12.2% of revenue.
Discipline 20 / 20

The diluted share count fell 29.7% over five years; stock-based pay has been a median 0.2% 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: ABG vs ORLY AZO vs ORLY GPI vs ORLY ORLY vs SAH

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

Figures from O'Reilly Automotive's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to O'Reilly Automotive.