AutoZone, Inc. (AZO) Key Metrics
AZO valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $50.47B
- Enterprise value
- $58.36B
- P/E (TTM)
- 20.5 10-yr median 17.7
- Forward P/E
- 16.5
- PEG ratio
- 1.31
- Price / sales
- 2.5 10-yr median 2.4
- Price / book
- 13.4
- EV / EBITDA
- 13.8 10-yr median 13.5
- Dividend yield
- —
- Beta
- 0.40
AZO key metrics, FY2017–FY2026
Fiscal year ended August 31, 2026 · U.S. dollarsAZO valuation Price multiples at each fiscal year-end price.
P/E ratio−32.3%
19.6
FY2026 · hover or tap a bar for each year
FY2017FY2026
Price / sales−35.1%
2.5
FY2026 · hover or tap a bar for each year
FY2017FY2026
EV / EBITDA−15.9%
16.8
FY2026 · hover or tap a bar for each year
FY2017FY2026
AZO returns How much profit the business earns on the capital it uses.
Return on invested capital−3.8 pts
32.3%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Return on assets−1.1 pts
12.6%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Asset turnover−4.3%
0.99
FY2026 · hover or tap a bar for each year
FY2017FY2026
AZO per-share figures Results divided by the shares outstanding at year-end.
Revenue per share+9.8%
$1,205.96
FY2026 · hover or tap a bar for each year
FY2017FY2026
Earnings per share+5.3%
$152.55
FY2026 · hover or tap a bar for each year
FY2017FY2026
Book value per share
−$148.38
FY2026 · hover or tap a bar for each year
FY2017FY2026
Shares outstanding−2.2%
16.9M
FY2026 · hover or tap a bar for each year
FY2017FY2026
AZO financial health Debt, liquidity and how easily interest is covered.
Net debt+$104.3M
$12.12B
FY2026 · hover or tap a bar for each year
FY2017FY2026
Net debt / EBITDA+0.41
3.26
FY2026 · hover or tap a bar for each year
FY2017FY2026
Current ratio+2.8%
0.90
FY2026 · hover or tap a bar for each year
FY2017FY2026
Interest coverage+6.2%
7.9
FY2026 · hover or tap a bar for each year
FY2017FY2026
Debt / assets−9.4%
0.58
FY2026 · hover or tap a bar for each year
FY2017FY2026
AZO efficiency & capital use Working capital cycle and where the cash goes.
Days of inventory+10 days
278 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Days payables outstanding0 days
313 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
AZO valuation history
Fiscal year-endToday10-year median
AZO returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
AZO debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
AZO cash returned to shareholders
DividendsBuybacksFree cash flow
AZO price vs earnings per share
Share price at year-endEPS (right axis)
AZO key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $50.45B | $72.40B | $56.64B | $48.36B | $43.94B | $35.32B | $28.82B | $28.09B | $21.03B | $15.36B |
| Enterprise value | $62.57B | $84.42B | $68.71B | $59.01B | $52.97B | $42.38B | $35.38B | $33.18B | $25.87B | $20.20B |
| P/E ratio | 19.6 | 29.0 | 21.3 | 19.1 | 18.1 | 16.3 | 16.6 | 17.4 | 15.7 | 12.0 |
| Price / sales | 2.5 | 3.8 | 3.1 | 2.8 | 2.7 | 2.4 | 2.3 | 2.4 | 1.9 | 1.4 |
| Price / free cash flow | — | 40.4 | 29.3 | 22.6 | 17.3 | 12.2 | 12.7 | 17.2 | 13.5 | 15.1 |
| Price / operating cash flow | — | 23.2 | 18.9 | 16.4 | 13.7 | 10.0 | 10.6 | 13.2 | 10.1 | 9.8 |
| EV / sales | 3.1 | 4.5 | 3.7 | 3.4 | 3.3 | 2.9 | 2.8 | 2.8 | 2.3 | 1.9 |
| EV / EBITDA | 16.8 | 20.0 | 15.8 | 14.9 | 14.3 | 12.6 | 12.6 | 12.8 | 12.0 | 8.4 |
| EV / free cash flow | — | 47.2 | 35.6 | 27.5 | 20.9 | 14.6 | 15.6 | 20.3 | 16.6 | 19.9 |
| Earnings yield | 5.1% | 3.5% | 4.7% | 5.2% | 5.5% | 6.1% | 6.0% | 5.8% | 6.4% | 8.3% |
| Free cash flow yield | — | 2.5% | 3.4% | 4.4% | 5.8% | 8.2% | 7.8% | 5.8% | 7.4% | 6.6% |
| Dividend yield | — | — | — | 1.3% | 1.4% | 0.0% | 0.0% | 0.0% | 0.8% | 3.9% |
| Shareholder yield (dividends + buybacks) | — | 2.2% | 5.5% | 8.9% | 11.3% | 9.6% | 3.2% | 7.1% | 8.4% | 10.9% |
| Share price at fiscal year-end | $2,991.24 | $4,198.53 | $3,181.48 | $2,531.33 | $2,119.21 | $1,549.15 | $1,196.31 | $1,101.69 | $766.88 | $528.44 |
| Per share | ||||||||||
| Revenue per share | $1,205.96 | $1,098.21 | $1,038.60 | $913.85 | $783.88 | $641.68 | $524.30 | $465.28 | $409.17 | $374.63 |
| Earnings per share | $152.55 | $144.87 | $149.55 | $132.36 | $117.19 | $95.19 | $71.93 | $63.43 | $48.77 | $44.07 |
| Operating cash flow per share | — | $180.77 | $168.74 | $153.94 | $154.88 | $154.33 | $112.90 | $83.48 | $75.86 | $54.04 |
| Free cash flow per share | — | $103.80 | $108.49 | $112.24 | $122.45 | $127.06 | $93.90 | $64.02 | $56.81 | $34.98 |
| Cash per share | $19.34 | $15.76 | $16.75 | $14.50 | $12.75 | $51.38 | $72.67 | $6.91 | $7.94 | $10.09 |
| Book value per share | −$148.38 | −$197.99 | −$266.79 | −$227.71 | −$170.69 | −$78.84 | −$36.44 | −$67.22 | −$55.44 | −$49.14 |
| Tangible book value per share | −$148.38 | −$215.54 | −$283.79 | −$243.55 | −$185.29 | −$92.12 | −$49.06 | −$79.30 | −$66.83 | −$64.43 |
| Dividends per share | — | — | — | $31.73 | $29.10 | $0.00 | $0.00 | $0.00 | $6.21 | $20.64 |
| Capex per share | — | $76.96 | $60.25 | $41.70 | $32.43 | $27.27 | $19.00 | $19.45 | $19.04 | $19.05 |
| Debt per share | $738.06 | $712.60 | $694.66 | $572.15 | $448.38 | $360.94 | $344.76 | $206.39 | $184.45 | $176.48 |
| Shares outstanding | 16.9M | 17.2M | 17.8M | 19.1M | 20.7M | 22.8M | 24.1M | 25.5M | 27.4M | 29.1M |
| Change in shares outstanding | −2.2% | −3.1% | −6.8% | −7.9% | −9.1% | −5.4% | −5.5% | −7.0% | −5.6% | −4.7% |
| Returns & profitability | ||||||||||
| Return on invested capital (ROIC) | 32.3% | 36.1% | 44.4% | 47.0% | 48.0% | 42.5% | 41.8% | 52.7% | 44.0% | 43.2% |
| Return on assets (ROA) | 12.6% | 13.7% | 16.1% | 16.2% | 16.3% | 15.0% | 14.3% | 16.8% | 14.4% | 14.3% |
| Return on tangible assets | 11.9% | 13.1% | 15.8% | 16.1% | 16.2% | 15.3% | 12.3% | 16.9% | 14.8% | 14.5% |
| Free cash flow margin | — | 9.5% | 10.4% | 12.3% | 15.6% | 19.8% | 17.9% | 13.8% | 13.9% | 9.3% |
| Income quality (OCF / net income) | — | 1.25 | 1.13 | 1.16 | 1.32 | 1.62 | 1.57 | 1.32 | 1.56 | 1.23 |
| Financial health | ||||||||||
| Total debt | $12.45B | $12.29B | $12.37B | $10.93B | $9.30B | $8.23B | $8.31B | $5.26B | $5.06B | $5.13B |
| Cash & short-term investments | $326.1M | $271.8M | $298.2M | $277.1M | $264.4M | $1.17B | $1.75B | $176.3M | $217.8M | $293.3M |
| Net debt | $12.12B | $12.02B | $12.07B | $10.65B | $9.03B | $7.06B | $6.56B | $5.09B | $4.84B | $4.84B |
| Debt / assets | 0.58 | 0.63 | 0.72 | 0.68 | 0.61 | 0.57 | 0.58 | 0.53 | 0.54 | 0.55 |
| Net debt / EBITDA | 3.26 | 2.85 | 2.77 | 2.68 | 2.43 | 2.11 | 2.33 | 1.97 | 2.24 | 2.01 |
| Current ratio | 0.90 | 0.88 | 0.84 | 0.80 | 0.77 | 0.87 | 1.08 | 0.91 | 0.92 | 0.97 |
| Quick ratio | 0.14 | 0.14 | 0.13 | 0.12 | 0.12 | 0.24 | 0.37 | 0.13 | 0.14 | 0.15 |
| Interest coverage | 7.9 | 7.4 | 8.2 | 11.3 | 17.1 | 15.1 | 12.0 | 12.0 | 10.2 | 13.3 |
| Working capital | −$1.00B | −$1.18B | −$1.41B | −$1.73B | −$1.96B | −$954.5M | $528.8M | −$483.5M | −$392.8M | −$155.0M |
| Invested capital | $9.62B | $8.60B | $7.32B | $6.30B | $5.49B | $5.26B | $5.68B | $3.37B | $3.32B | $3.41B |
| Tangible asset value | −$2.50B | −$3.72B | −$5.05B | −$4.65B | −$3.84B | −$2.10B | −$1.18B | −$2.02B | −$1.83B | −$1.87B |
| Net current asset value | −$15.03B | −$14.43B | −$14.62B | −$13.56B | −$12.19B | −$9.90B | −$8.49B | −$6.58B | −$6.23B | −$6.08B |
| Graham net-net per share | −$1,182.28 | −$1,071.75 | −$1,019.00 | −$878.73 | −$740.46 | −$549.97 | −$458.26 | −$354.62 | −$309.37 | −$283.62 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $606.2M | $603.4M | $0 | $0 | $0 | $170.2M | $600.0M |
| Share buybacks (net) | — | $1.58B | $3.14B | $3.70B | $4.36B | $3.38B | $930.9M | $2.00B | $1.59B | $1.07B |
| Dividend payout ratio | — | — | — | 24.0% | 24.8% | 0.0% | 0.0% | 0.0% | 12.7% | 46.8% |
| Dividends + buybacks / free cash flow | — | 88.2% | 162.6% | 200.8% | 195.5% | 116.6% | 41.1% | 122.8% | 113.1% | 164.4% |
| Capex / revenue | — | 7.0% | 5.8% | 4.6% | 4.1% | 4.3% | 3.6% | 4.2% | 4.7% | 5.1% |
| Capex / operating cash flow | — | 42.6% | 35.7% | 27.1% | 20.9% | 17.7% | 16.8% | 23.3% | 25.1% | 35.3% |
| Capex / depreciation | — | 2.16 | 1.95 | 1.60 | 1.52 | 1.53 | 1.15 | 1.34 | 1.51 | 1.71 |
| Stock-based compensation / revenue | — | 0.7% | 0.6% | 0.5% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% |
| SG&A / revenue | — | 33.6% | 32.6% | 32.1% | 32.0% | 32.6% | 34.5% | 35.0% | 34.0% | 30.6% |
| Efficiency | ||||||||||
| Days sales outstanding | — | 11.7 | 10.5 | 10.7 | 9.9 | 9.3 | 9.7 | 8.7 | 8.8 | 9.5 |
| Days of inventory on hand | 277.9 | 268.1 | 250.8 | 248.1 | 241.1 | 240.6 | 273.8 | 274.2 | 272.2 | 266.3 |
| Days payables outstanding | 312.9 | 312.9 | 306.3 | 315.6 | 312.4 | 294.9 | 312.0 | 307.8 | 298.4 | 292.9 |
| Cash conversion cycle (days) | — | -33.0 | -45.0 | -56.7 | -61.3 | -45.0 | -28.5 | -24.8 | -17.4 | -17.1 |
| Receivables turnover | — | 31.16 | 34.69 | 34.05 | 36.80 | 39.37 | 37.50 | 41.84 | 41.65 | 38.31 |
| Payables turnover | 1.17 | 1.17 | 1.19 | 1.16 | 1.17 | 1.24 | 1.17 | 1.19 | 1.22 | 1.25 |
| Inventory turnover | 1.31 | 1.36 | 1.46 | 1.47 | 1.51 | 1.52 | 1.33 | 1.33 | 1.34 | 1.37 |
| Asset turnover | 0.99 | 1.04 | 1.12 | 1.12 | 1.09 | 1.01 | 1.04 | 1.23 | 1.21 | 1.22 |
| Average receivables | — | $607.9M | $533.0M | $512.6M | $441.6M | $371.6M | $336.9M | $283.6M | $269.4M | $284.2M |
| Average payables | $8.31B | $7.69B | $7.28B | $7.25B | $6.66B | $5.59B | $5.01B | $4.64B | $4.29B | $4.13B |
| Average inventory | $7.38B | $6.59B | $5.96B | $5.70B | $5.14B | $4.56B | $4.40B | $4.13B | $3.91B | $3.76B |
| Intangibles / total assets | 0.0% | 1.6% | 1.8% | 1.9% | 2.0% | 2.1% | 2.1% | 3.1% | 3.3% | 4.8% |
Computed from AZO's annual financial statements (latest annual report filed September 22, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
AZO valuation and financial ratios
At the end of fiscal 2026 (August 31, 2026), AutoZone traded at 19.6 times earnings, against a 10-year median of 17.7. Based on the latest twelve months, the trailing P/E is 20.5 and the forward P/E is 16.5. AutoZone earned a return on invested capital of 32.3% in fiscal 2026. It ended the year with $12.4 billion of debt and $326.1 million in cash and short-term investments, net debt of $12.1 billion. The share count fell 42.0% from 29.1M to 16.9M over 9 years.
See the AZO income statement, the AZO chart for price history, or the AZO stock overview for the latest quote and news.
AZO key metrics FAQ
What is AutoZone's P/E ratio?
AutoZone's trailing P/E ratio is 20.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 16.5. At the end of fiscal 2026 it was 19.6, compared with a 10-year median of 17.7.
What is AutoZone's EV/EBITDA?
AutoZone's enterprise value was 16.8 times EBITDA at the end of fiscal 2026 (enterprise value $62.6 billion, EBITDA $3.7 billion); the current EV/EBITDA is 13.8.
What is AutoZone's ROIC?
AutoZone's return on invested capital was 32.3% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does AutoZone have?
AutoZone had total debt of $12.4 billion at the end of fiscal 2026 and $12.1 billion of net debt (3.26 times EBITDA).
What is AutoZone's current ratio?
AutoZone's current ratio was 0.90 at the end of fiscal 2026: current assets were 0.90 times current liabilities.