Autozone Financials
This page shows Autozone (AZO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Steady retail margins are increasingly being absorbed by heavier reinvestment and a buyback-shaped balance sheet.
Across the last five annual periods, free cash flow compressed from$2.90B to$1.79B even though operating cash flow stayed in the same neighborhood. The missing cash largely went into higher capital spending, which rose from$622M to$1.33B , so the business remains cash-generative but is becoming more capital intensive.
AutoZone’s reported profitability has been unusually steady for a retailer: gross margin held near
The balance sheet is shaped less by weak earnings than by aggressive share repurchases: liabilities have exceeded assets for years, and the company spent more on buybacks than free cash flow in several recent periods. That posture can work because the business still produces roughly
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Autozone's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Autozone has an operating margin of 19.1%, meaning the company retains $19 of operating profit per $100 of revenue. This strong profitability earns a score of 91/100, reflecting efficient cost management and pricing power. This is down from 20.5% the prior year.
Autozone's revenue grew a modest 2.4% year-over-year to $18.9B. This slow but positive growth earns a score of 47/100.
Autozone has a moderate D/E ratio of -2.58. This balance of debt and equity financing earns a leverage score of 30/100.
Autozone's current ratio of 0.88 is below the typical benchmark, resulting in a score of 14/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Autozone converts 9.4% of revenue into free cash flow ($1.8B). This strong cash generation earns a score of 68/100.
Autozone scores 2.53, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($49.1B) relative to total liabilities ($22.8B). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Autozone passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Autozone generates $1.25 in operating cash flow ($3.1B OCF vs $2.5B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Autozone earns $7.4 in operating income for every $1 of interest expense ($3.6B vs $490.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Autozone generated $18.9B in revenue in fiscal year 2025. This represents an increase of 2.4% from the prior year.
Autozone's EBITDA was $4.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 2.7% from the prior year.
Autozone reported $2.5B in net income in fiscal year 2025. This represents a decrease of 6.2% from the prior year.
Autozone earned $144.87 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 3.1% from the prior year.
Cash & Balance Sheet
Autozone generated $1.8B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 7.3% from the prior year.
Autozone held $271.8M in cash against $8.8B in long-term debt as of fiscal year 2025.
Autozone had 17M shares outstanding in fiscal year 2025. This represents a decrease of 1.6% from the prior year.
Margins & Returns
Autozone's gross margin was 52.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the prior year.
Autozone's operating margin was 19.1% in fiscal year 2025, reflecting core business profitability. This is down 1.4 percentage points from the prior year.
Autozone's net profit margin was 13.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.2 percentage points from the prior year.
Capital Allocation
Autozone spent $1.6B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 49.8% from the prior year.
Autozone invested $1.3B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 23.7% from the prior year.
AZO Income Statement
| Metric | Q3'26 | Q1'26 | Q4'25 | Q3'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.8B+4.6% | $4.6B | N/A | $4.5B+4.3% | $4.3B | N/A | $4.2B+9.8% | $3.9B |
| Cost of Revenue | $2.3B+2.1% | $2.3B | N/A | $2.1B+4.9% | $2.0B | N/A | $2.0B+10.7% | $1.8B |
| Gross Profit | $2.5B+7.0% | $2.4B | N/A | $2.4B+3.8% | $2.3B | N/A | $2.3B+8.9% | $2.1B |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.6B+1.6% | $1.6B | N/A | $1.5B+4.2% | $1.4B | N/A | $1.4B+2.2% | $1.3B |
| Operating Income | $923.8M+17.8% | $784.2M | N/A | $866.2M+3.0% | $841.1M | N/A | $900.2M+21.1% | $743.2M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $171.8M+16.8% | $147.1M | N/A | $146.4M-13.1% | $168.6M | N/A | $144.0M+14.7% | $125.6M |
| Net Income | $641.5M+20.8% | $530.8M | N/A | $608.4M+7.7% | $564.9M | N/A | $651.7M+26.5% | $515.0M |
| EPS (Diluted) | $38.07+22.6% | $31.04 | N/A | $35.36+8.7% | $32.52 | N/A | $36.69+27.0% | $28.89 |
AZO Balance Sheet
| Metric | Q3'26 | Q1'26 | Q4'25 | Q3'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $20.9B+6.4% | $19.7B+1.6% | $19.4B+3.9% | $18.6B+6.6% | $17.5B+1.7% | $17.2B+0.4% | $17.1B+2.3% | $16.7B |
| Current Assets | $8.9B+5.8% | $8.4B+1.2% | $8.3B+4.5% | $8.0B+7.6% | $7.4B+1.6% | $7.3B+0.2% | $7.3B+1.8% | $7.2B |
| Cash & Equivalents | $253.7M-11.8% | $287.6M+5.8% | $271.8M+1.2% | $268.6M-11.6% | $304.0M+2.0% | $298.2M+8.3% | $275.4M-9.5% | $304.1M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $764.9M+19.9% | $637.8M-4.8% | $670.1M+13.9% | $588.5M+10.3% | $533.5M-2.2% | $545.6M-7.0% | $586.8M+17.1% | $501.1M |
| Goodwill | $302.6M0.0% | $302.6M0.0% | $302.6M0.0% | $302.6M0.0% | $302.6M0.0% | $302.6M0.0% | $302.6M0.0% | $302.6M |
| Total Liabilities | $23.7B+3.5% | $22.9B+0.5% | $22.8B+0.8% | $22.6B+2.1% | $22.1B+1.0% | $21.9B-0.1% | $21.9B+1.8% | $21.6B |
| Current Liabilities | $10.0B+2.3% | $9.8B+3.1% | $9.5B+0.6% | $9.5B+6.5% | $8.9B+2.0% | $8.7B-5.2% | $9.2B+4.8% | $8.8B |
| Long-Term Debt | $9.0B+4.6% | $8.6B-2.0% | $8.8B-0.6% | $8.9B-1.8% | $9.0B-0.1% | $9.0B+6.2% | $8.5B-1.6% | $8.6B |
| Total Equity | -$2.8B+13.8% | -$3.2B+5.4% | -$3.4B+14.1% | -$4.0B+14.9% | -$4.7B+1.6% | -$4.7B+1.8% | -$4.8B0.0% | -$4.8B |
| Retained Earnings | -$3.8B-8.9% | -$3.4B+13.4% | -$4.0B+17.4% | -$4.8B-24.7% | -$3.9B+12.8% | -$4.4B+16.9% | -$5.3B+10.9% | -$6.0B |
AZO Cash Flow Statement
| Metric | Q3'26 | Q1'26 | Q4'25 | Q3'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $802.0M-15.1% | $944.2M-0.9% | $952.8M+63.2% | $583.7M-28.1% | $811.8M-24.1% | $1.1B+59.9% | $669.5M-19.4% | $830.3M |
| Capital Expenditures | $345.5M+10.0% | $314.2M-28.9% | $441.6M+50.9% | $292.7M+18.5% | $247.0M-28.8% | $346.8M+47.5% | $235.1M-0.1% | $235.4M |
| Free Cash Flow | $456.5M-27.5% | $630.0M+23.3% | $511.1M+75.6% | $291.0M-48.5% | $564.8M-21.9% | $723.5M+66.6% | $434.4M-27.0% | $594.8M |
| Investing Cash Flow | -$345.6M-5.8% | -$326.7M+32.4% | -$483.2M-62.3% | -$297.7M-12.0% | -$265.7M+28.2% | -$370.2M+0.5% | -$372.3M-37.6% | -$270.5M |
| Financing Cash Flow | -$487.7M+19.1% | -$602.7M-28.5% | -$469.0M-62.7% | -$288.4M+46.4% | -$538.1M+19.1% | -$664.8M-103.8% | -$326.1M+40.9% | -$552.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $580.7M+35.9% | $427.2M-3.6% | $442.9M+35.7% | $326.4M-39.6% | $540.1M-23.3% | $703.7M-3.4% | $728.1M-51.0% | $1.5B |
AZO Financial Ratios
| Metric | Q3'26 | Q1'26 | Q4'25 | Q3'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.1%+1.2pp | 51.0% | N/A | 52.7%-0.3pp | 53.0% | N/A | 53.5%-0.4pp | 53.9% |
| Operating Margin | 19.1%+2.1pp | 16.9% | N/A | 19.4%-0.3pp | 19.7% | N/A | 21.3%+2.0pp | 19.3% |
| Net Margin | 13.3%+1.8pp | 11.5% | N/A | 13.6%+0.4pp | 13.2% | N/A | 15.4%+2.0pp | 13.4% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 3.1%+0.4pp | 2.7% | N/A | 3.3%+0.0pp | 3.2% | N/A | 3.8%+0.7pp | 3.1% |
| Current Ratio | 0.89+0.0 | 0.86-0.0 | 0.88+0.0 | 0.840.0 | 0.830.0 | 0.84+0.0 | 0.79-0.0 | 0.82 |
| Debt-to-Equity | -3.24-0.6 | -2.67-0.1 | -2.58-0.3 | -2.23-0.3 | -1.93-0.0 | -1.90-0.1 | -1.76+0.0 | -1.78 |
| FCF Margin | 9.4%-4.2pp | 13.6% | N/A | 6.5%-6.7pp | 13.2% | N/A | 10.3%-5.1pp | 15.4% |
Note: Shareholder equity is negative (-$3.4B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.88), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Autozone's annual revenue?
Autozone (AZO) reported $18.9B in total revenue for fiscal year 2025. This represents a 2.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Autozone's revenue growing?
Autozone (AZO) revenue grew by 2.4% year-over-year, from $18.5B to $18.9B in fiscal year 2025.
Is Autozone profitable?
Yes, Autozone (AZO) reported a net income of $2.5B in fiscal year 2025, with a net profit margin of 13.2%.
What is Autozone's EBITDA?
Autozone (AZO) had EBITDA of $4.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Autozone have?
As of fiscal year 2025, Autozone (AZO) had $271.8M in cash and equivalents against $8.8B in long-term debt.
What is Autozone's gross margin?
Autozone (AZO) had a gross margin of 52.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Autozone's operating margin?
Autozone (AZO) had an operating margin of 19.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Autozone's net profit margin?
Autozone (AZO) had a net profit margin of 13.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Autozone's free cash flow?
Autozone (AZO) generated $1.8B in free cash flow during fiscal year 2025. This represents a -7.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Autozone's operating cash flow?
Autozone (AZO) generated $3.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Autozone's total assets?
Autozone (AZO) had $19.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Autozone's capital expenditures?
Autozone (AZO) invested $1.3B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Autozone's current ratio?
Autozone (AZO) had a current ratio of 0.88 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Autozone's debt-to-equity ratio?
Autozone (AZO) had a debt-to-equity ratio of -2.58 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Autozone's return on assets (ROA)?
Autozone (AZO) had a return on assets of 12.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Autozone's debt-to-equity ratio negative or unusual?
Autozone (AZO) has negative shareholder equity of -$3.4B as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Autozone's Altman Z-Score?
Autozone (AZO) has an Altman Z-Score of 2.53, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Autozone's Piotroski F-Score?
Autozone (AZO) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Autozone's earnings high quality?
Autozone (AZO) has an earnings quality ratio of 1.25x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Autozone cover its interest payments?
Autozone (AZO) has an interest coverage ratio of 7.4x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Autozone?
Autozone (AZO) scores 58 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.