# AutoZone, Inc. (AZO)

> Source: Nexqual · https://nexqual.com/AZO · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, AutoZone, Inc. (AZO), nexqual.com/AZO" · informational, not investment advice.

**Price:** USD 3,270.7 (+3.61% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 3,156.74 · day 3,162.71–3,277.41 · 52w 2,730.65–3,996.25 · market cap $52.9B · NYQ

## Key facts
- Last four reported quarters (through May 9, 2026): revenue $20.0B, net income $2.48B (12.4% margin), free cash flow $1.63B (SEC filings).
- Valuation: P/E 21.3x (avg 23.1x at the last 3 fiscal year-ends), EV/EBITDA 14.5x, net debt $8.80B.
- 1 of 80 tracked superinvestors hold AZO (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $4.7M; 2 not under a Rule 10b5-1 plan ($4.7M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $493K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.96 on a 1–5 scale) (27 analysts), mean target USD 3,719.96 (range 3,000–4,800).
- Total return with dividends: 1Y -15.1% vs S&P 500 +14.9%; 5Y +78.4% vs S&P 500 +80.3%.
- Next earnings: 2026-12-08, EPS estimate USD 35.4, revenue estimate $4.95B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $14.6B | $16.3B | $17.5B | $18.5B | $18.9B | $20.0B |
| Gross profit | $7.72B | $8.47B | $9.07B | $9.82B | $9.97B | — |
| Operating income | $2.94B | $3.27B | $3.47B | $3.79B | $3.61B | $3.60B |
| Net income | $2.17B | $2.43B | $2.53B | $2.66B | $2.50B | $2.48B |
| EPS (diluted) | $95.19 | $117.19 | $132.36 | $149.55 | $144.87 | — |
| Free cash flow | $2.90B | $2.54B | $2.14B | $1.93B | $1.79B | $1.63B |
| Gross margin | 52.8% | 52.1% | 52.0% | 53.1% | 52.6% | — |
| Operating margin | 20.1% | 20.1% | 19.9% | 20.5% | 19.1% | 18.0% |
| Net margin | 14.8% | 14.9% | 14.5% | 14.4% | 13.2% | 12.4% |
| Revenue growth | +15.8% | +11.1% | +7.4% | +5.9% | +2.4% | — |
| Cash + short-term investments | $1.17B | $264M | $277M | $298M | $272M | — |
| Total debt | $5.30B | $6.15B | $7.71B | $9.08B | $8.85B | — |
Fiscal years end Aug. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through May 9, 2026)
P/E 21.3x · P/S 2.6x · EV/EBITDA 14.5x · EV/Sales 3.1x · P/FCF 32.4x · FCF yield 3.09% · Earnings yield 4.68% · Buyback yield (TTM) 3.34% · Net debt $8.80B · EV $61.7B
P/E at fiscal year-ends: Aug 2025 29.0x, Aug 2024 21.3x, Aug 2023 19.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold AZO. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Tweedy Browne |  | 1.34% | $17.7M | Reduced -0.1% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-07 | Leriche Dennis W. | Sr. Vice President | 1,455 | $4.5M | 76.7% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-04-10 | Graves Earl G Jr | Director | 50 | $174K | 1% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $493K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-05-29 | Hannasch Brian | Director | 165 | $493K | 2,987 | Too little history (no open-market trades in 2023 or 2024) |

## Analysts
Consensus Buy (mean 1.96 on a 1–5 scale), 27 analysts; mean target USD 3,719.96 (low 3,000, high 4,800).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-29 | Bernstein | Initiated | Outperform | $3698 |
| 2026-09-28 | JP Morgan | Target lowered | Overweight | $3850 → $3700 |
| 2026-09-23 | Roth Capital | Target lowered | Buy | $4023 → $3850 |
| 2026-09-23 | Truist Securities | Target lowered | Buy | $3817 → $3648 |
| 2026-09-23 | TD Cowen | Target lowered | Buy | $3500 → $3400 |
| 2026-09-23 | DA Davidson | Target lowered | Buy | $3750 → $3500 |
| 2026-09-23 | Raymond James | Target lowered | Strong Buy | $4000 → $3700 |
| 2026-09-23 | Mizuho | Target lowered | Neutral | $3200 → $3000 |
| 2026-09-23 | BMO Capital | Target lowered | Outperform | $4000 → $3500 |
| 2026-09-23 | Barclays | Target lowered | Overweight | $3637 → $3400 |
| 2026-09-23 | Baird | Target lowered | Neutral | $3600 → $3400 |
| 2026-09-23 | Guggenheim | Target lowered | Buy | $4000 → $3750 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -15.1% | +78.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -15.1% | +12.3% |
| Volatility (annualized) | 30.5% | 25.5% |
| Max drawdown | -29.6% (Nov 2025→Oct 2026) | -35.4% (Sep 2025→Sep 2026) |

## Peers (Auto Parts)
ORLY (O'Reilly Automotive, Inc.) USD 92 +3.14% · GPC (Genuine Parts Company) USD 127.97 +2.56% · MGA (Magna International, Inc.) USD 64.72 +1.39% · HSAI (Hesai Group) USD 12.14 -7.96% · BWA (BorgWarner Inc.) USD 55.46 -3.46% · AUR (Aurora Innovation, Inc.) USD 4.86 -2.99%

## More
Full page: https://nexqual.com/AZO · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name AZO in their own reports (relationship from AZO's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| supplier | INNEOVA Holdings Ltd (INEO) | 20-F 2026-05-15 | "(S) and mainly supplies genuine OEM and aftermarket spare parts to customers through the Autozone (S) retail outlets located in" |

## Revenue by product line (fiscal year ended 2025-08-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Failure | $9.29B | 49.1% | +3.5% |
| Maintenance Items | $6.81B | 35.9% | +2.9% |
| Accessories | $2.84B | 15.0% | -1.8% |
| Total revenue | $18.94B | 100% | — |

## Revenue by region (fiscal year ended 2025-08-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $16.67B | 88.0% | +2.8% |
| Non Us | $2.27B | 12.0% | -0.2% |
| Total revenue | $18.94B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-11-30) | $35.40 | $38.14 | -7.2% | $4.95B | 20 |
| Next quarter (ends 2027-02-28) | $31.75 | $32.42 | -2.1% | $4.59B | 20 |
| Current fiscal year (ends 2027-08-31) | $169.87 | $175.47 | -3.2% | $21.85B | 24 |
| Next fiscal year (ends 2028-08-31) | $191.30 | $195.79 | -2.3% | $23.41B | 23 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-12-08): ±11.0%; earnings reaction alone ±3.5%; last 8 reports averaged ±4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 33.4% | ±7.6% |
| 2026-12-18 | 56 | 34.9% | ±11.0% |
| 2027-01-15 | 84 | 33.7% | ±13.0% |
| 2027-03-19 | 147 | 34.3% | ±17.5% |
| 2027-06-17 | 237 | 34.1% | ±22.1% |
| 2027-09-17 | 329 | 33.7% | ±25.7% |