AutoZone (AZO)

Consumer Discretionary · $51.8B market cap · SEC CIK 0000866787

Next reports on Dec 8, 2026, with analysts expecting $35.62 in earnings per share.

52-week range $2,731 to $3,996. 19% below its 52-week high and 18% above its low.

The case for AZO

• Earns 12% a year on everything it owns (return on assets).
• Moves less than the market (beta 0.33).

The case against

• Owes more than it owns: shareholder equity is −$2.5B, usually the result of buybacks funded with debt. ROE and price-to-book mean little here.
• Current liabilities exceed current assets (ratio 0.90).
• Long-term debt of $9.1B against $326M of cash.
• Trailed the S&P 500 by 25 points over the past year.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Consumer Discretionary companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• Shareholder equity is negative, so return on equity, price-to-book and debt-to-equity are left out.
• Each factor except momentum is half fixed thresholds, half rank among the 48 Consumer Discretionary companies.

The financials

The financials, five years deep

Pulled from AutoZone's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What AutoZone says it does

Introduction AutoZone, Inc. (“AutoZone,” the “Company,” “we,” “our” or “us”) is a leading retailer and distributor of automotive replacement parts and accessories in the Americas. We began operations in 1979 and at August 29, 2026, operated 6,863 stores in the United States (“U.S.”), 1,001 stores in Mexico and 167 stores in Brazil. Each store carries an extensive product line for cars, sport utility vehicles, vans and light duty trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products. At August 29, 2026, in 6,443 of our domestic stores as well as the vast majority of our stores in Mexico and Brazil, we had a commercial sales program that provides prompt delivery of parts and other products and commercial credit to local, regional and national repair garages, dealers, service stations, fleet owners and other accounts. We also sell automotive hard parts, maintenance…

Risk factors AZO lists in its 10-K

• The current global economic and geopolitical landscape has increased uncertainty about key areas of doing business internationally and may have a negative impact on our business
• If demand for our products slows, then our business may be materially adversely affected
• If we are unable to compete successfully against other businesses that sell the products that we sell, we could lose customers and market share and our sales and profits may decline
• We may not be able to sustain our historic rate of sales growth
• If we cannot profitably increase our market share in the commercial automotive parts business, our sales growth may be limited
• Our business depends upon hiring, training and retaining qualified employees, including members of management and other key personnel
• Inability to acquire and provide quality merchandise at competitive prices could materially adversely affect our sales and results of operations
• We are subject to risks associated with products sourced outside the U.S
• Disruptions in our supply chain and other factors affecting the distribution of our merchandise could adversely impact our business and results of operations
• Our success in international operations is dependent on our ability to manage the unique challenges presented by international markets
• Business interruptions may negatively impact our operating hours, operability of our computer and other systems, availability of merchandise and otherwise have a material adverse effect on our sales and our business
• Our failure to protect our brand and reputation could have an adverse effect on our relationships with our customers, AutoZoners, suppliers, vendors and other stakeholders, thereby negatively impacting sales and profitability
• We are self-insured for certain costs associated with our operations and an increase in our insurance claims and expenses may have a material negative impact on us
• A downgrade in our credit ratings or a general disruption in the credit markets could make it more difficult for us to access funds, refinance our debt, obtain new funding or issue debt securities
• Our business, results of operations, financial condition and cash flows may be adversely affected by the adoption of new laws, changes to existing laws, increased enforcement activity or other governmental actions
• We may be adversely affected by legal, regulatory or market responses to global climate change
• Significant changes in macroeconomic and geopolitical factors could materially adversely affect our financial condition and results of operations

Filings

Other Consumer Discretionary companies