AUTOZONE INC

10-K & 10-Q Filings

AutoZone, Inc. is a leading retailer and distributor of automotive replacement parts and accessories in the Americas. The company began operations in 1979 and operates 6,300 stores in the United States, 740 stores in Mexico, and 100 stores in Brazil. AutoZone's business strategy focuses on providing superior customer service, offering quality products at competitive prices, and expanding its store network. The company's merchandise is purchased through store support centers in Memphis, Tennessee; Monterrey, Mexico; Sao Paulo, Brazil; Shanghai, China; Haryana, India; and Istanbul, Turkey. AutoZone's website is www.autozone.com, and its ticker symbol is AZO. The company's executive officers include William C. Rhodes III (Chairman, President, and CEO), Philip B. Daniele III (CEO-Elect), Jamere Jackson (Chief Financial Officer), Thomas B. Newbern (Chief Operating Officer), William R. Hackney (Executive Vice President – Merchandising, Marketing and Supply Chain), Jenna M. Bedsole (Senior Vice President, General Counsel & Secretary), K. Michelle Borninkhof (Senior Vice President and Chief Information Officer), Preston B. Frazer (Senior Vice President – Finance, Store Development and Strategy), and Eric S. Gould (Senior Vice President – Supply Chain). Domingo J. Hurtado Rodríguez is the Senior Vice President – International.

12 mos ending Aug 25, 201212 mos ending Aug 31, 201312 mos ending Aug 30, 201412 mos ending Aug 29, 201512 mos ending Aug 27, 201612 mos ending Aug 26, 201712 mos ending Aug 25, 201812 mos ending Aug 31, 201912 mos ending Aug 29, 202012 mos ending Aug 28, 202112 mos ending Aug 27, 202212 mos ending Aug 26, 20233 mos ending Feb 11, 20233 mos ending Feb 10, 2024CAGR %YoY %Revenue (+)

$8603.86

8962.11

9307.80

10187.34

10635.68

10888.68

11221.08

11863.74

12631.97

14629.58

16252.23

17457.21

3690.98

3859.13

6.64%4.56%Cost of Revenue (-)

$4171.83

4406.60

4540.41

4860.31

5026.94

5149.06

5247.33

5498.74

5861.21

6911.80

7779.58

8386.79

1760.98

1779.47

6.55%1.05%Gross Profit (+)

$4432.04

4740.94

4934.91

5327.03

5608.74

5739.62

5973.75

6365.00

6770.75

7717.78

8472.65

9070.42

1930.00

2079.65

6.73%7.75%Selling, General & Administrative (-)

$2803.14

2967.84

3104.68

3373.98

3548.34

3659.55

4162.89

4148.86

4353.07

4773.26

5201.92

5596.44

1260.03

1336.41

6.49%6.06%Operating Expenses (-)

$2803.14

2967.84

3104.68

3373.98

3548.34

3659.55

4162.89

4148.86

4353.07

4773.26

5201.92

5596.44

1260.03

1336.41

6.49%6.06%Costs & Expenses (Total) (-)

$6974.97

7374.43

7645.09

8234.29

8575.28

8808.61

9410.22

9647.61

10214.29

11685.06

12981.50

13983.22

3021.01

3115.88

6.53%3.14%Operating Income/Loss (+)

$1628.89

1773.10

1830.22

1953.05

2060.39

2080.07

1810.86

2216.14

2417.68

2944.53

3270.73

3473.99

669.98

743.24

7.13%10.94%Interest Expense (-)

150.44

147.68

154.58

174.53

184.80

201.16

195.34

191.64

306.37

65.61

102.62

56.41%Earnings before Tax (+)

$1452.99

1587.68

1662.71

1802.61

1912.71

1925.49

1636.33

2031.33

2216.51

2749.19

3079.09

3167.61

604.37

640.62

7.34%6.00%Tax Expense (-)

$522.61

571.20

592.97

642.37

671.71

644.62

298.79

414.11

483.54

578.88

649.49

639.19

127.82

125.59

1.85%-1.75%Income/Loss (Continuing Operations) (+)

$930.37

1016.48

1069.74

1160.24

1241.01

1280.87

1337.54

1617.22

1732.97

2170.31

2429.60

2528.43

476.54

515.03

9.51%8.08%Net Income/Loss (+)

$930.37

1016.48

1069.74

1160.24

1241.01

1280.87

1337.54

1617.22

1732.97

2170.31

2429.60

2528.43

476.54

515.03

9.51%8.08%Net Income/Loss (Common) (+)

$930.37

1016.48

1069.74

1160.24

1241.01

1280.87

1337.54

1617.22

1732.97

2170.31

2429.60

2528.43

476.54

515.03

9.51%8.08%EPS (Basic)

$24.04

28.28

32.16

36.76

41.52

45.05

49.59

64.78

73.62

97.60

120.83

136.60

25.48

29.74

17.11%16.72%EPS (Diluted)

$23.48

27.79

31.57

36.03

40.70

44.07

48.77

63.43

71.93

95.19

117.19

132.36

24.64

28.89

17.02%17.25%Weighted Avg Shares (Basic)

38.70

35.94

33.27

31.56

29.89

28.43

26.97

24.97

23.54

22.24

20.11

18.51

18.70

17.32

-6.48%-7.41%Weighted Avg Shares (Diluted)

39.63

36.58

33.88

32.21

30.49

29.07

27.42

25.50

24.09

22.80

20.73

19.10

19.34

17.83

-6.42%-7.80%Cash

$103.09

142.19

124.48

175.31

189.73

293.27

217.82

176.30

1750.82

1171.34

264.38

277.05

301.29

304.10

9.40%0.93%Receivables

$161.38

171.64

200.90

247.87

287.68

280.73

258.14

309.00

364.77

378.39

504.89

520.38

484.77

501.12

11.23%3.37%Inventory

$2627.98

Other Assets (Current)

$86.50

2964.18

3255.23

3547.11

3762.16

4037.25

4159.91

4543.39

4696.28

4865.58

5858.72

5981.99

6008.75

6351.84

46.98%5.71%Assets (Current)

$2978.95

3278.01

3580.61

3970.29

4239.57

4611.26

4635.87

5028.69

6811.87

6415.30

6627.98

6779.43

6794.81

7157.06

7.76%5.33%Property, Plant & Equipment (Net)

$2855.93

3071.36

3310.47

3505.63

3733.25

4031.02

4218.40

4398.75

4509.22

4856.89

5170.42

5596.55

5236.13

5907.48

6.31%12.82%Accumulated Depreciation

$1803.83

1987.16

2190.20

2386.07

2596.86

2842.18

3073.22

3314.45

3627.32

3950.29

4282.75

4741.34

4487.73

4940.46

9.18%10.09%Goodwill & Intangibles

$302.64

367.83

391.89

302.64

0.00%0.00%Other Assets

$128.12

174.89

258.94

234.54

235.07

225.62

190.07

165.83

218.46

222.65

255.18

309.16

267.72

351.18

8.34%31.17%Assets (Non-current)

$3286.69

3614.08

3937.25

4132.06

4360.21

4648.53

4711.11

4867.23

7612.00

8100.90

8647.06

9206.45

8750.34

9560.60

9.82%9.26%Assets (Total)

$6265.64

6892.09

7517.86

8102.35

8599.79

9259.78

9346.98

9895.91

14423.87

14516.20

15275.04

15985.88

15545.14

16717.65

8.89%7.54%Accounts Payable

$3421.88

3792.49

4132.29

4453.81

4690.32

4766.30

5028.68

5512.14

6059.24

7133.19

8344.99

8254.60

8339.35

8476.10

8.33%1.64%Debt (Current)

$49.88

173.73

180.91

223.85

Other Liabilities (Current)

$183.83

202.92

227.89

259.06

236.57

243.41

257.26

275.27

296.51

3.10%7.72%Liabilities (Current)

$3655.59

4169.15

4541.09

4712.87

4690.32

4766.30

5028.68

5512.14

6283.09

7369.75

8588.39

8511.86

8614.62

8772.61

7.99%1.83%Debt (Non-current)

$3718.30

4013.27

4162.89

4624.88

4924.12

5081.24

5005.93

5206.34

8014.93

5269.82

6122.09

7668.55

7042.30

8630.55

6.80%22.55%Other Liabilities

$439.77

396.99

435.73

465.99

772.89

840.62

832.72

891.28

1003.83

3674.16

4103.47

4155.37

4072.39

4151.81

22.65%1.95%Liabilities (Non-current)

$4158.07

4410.26

4598.62

5090.87

5697.01

5921.86

5838.65

6097.62

9018.76

8943.98

10225.56

11823.92

11114.69

12782.37

9.97%15.00%Liabilities (Total)

$7813.66

8579.41

9139.72

9803.74

10387.32

10688.16

10867.34

11609.76

15301.85

16313.73

18813.96

20335.77

19729.31

21554.97

9.08%9.25%Treasury Stock

$1053.10

1002.42

807.67

971.81

932.77

618.39

1231.43

1403.88

356.49

2535.62

3262.77

2684.96

767.46

139.47

8.88%-81.83%Retained Earnings

$-1033.20

-1378.94

-1529.12

-1418.74

-1602.19

-1642.39

-1208.82

-1305.35

-1450.97

-419.83

-1330.07

-2959.28

-4471.84

-5978.92

-33.70%AOCI

$-152.01

-120.79

-128.90

-249.52

-307.53

-254.56

-235.81

-269.32

-354.25

-307.99

-300.54

-190.84

-269.31

-204.90

23.92%Shareholder's Equity

$-1548.03

-1687.32

-1621.86

-1701.39

-1787.54

-1428.38

-1520.36

-1713.85

-877.98

-1797.54

-3538.91

-4349.89

-4184.17

-4837.32

-15.61%Liabilities & Equity

$6265.64

6892.09

7517.86

8102.35

8599.79

9259.78

9346.98

9895.91

14423.87

14516.20

15275.04

15985.88

15545.14

16717.65

8.89%7.54%Net Income/Loss

$930.37

1016.48

1069.74

1160.24

1241.01

1280.87

1337.54

1617.22

1732.97

2170.31

2429.60

2528.43

9.51%Depreciation & Amortization

$219.90

235.49

258.12

276.15

305.38

331.42

353.48

378.12

408.20

420.54

453.50

506.84

7.89%Increase/Decrease in Working Capital

$-77.83

-172.78

-12.45

-59.66

-62.55

137.06

-158.04

-61.66

-483.03

-906.01

-71.83

205.86

Share-based Compensation

$33.36

37.31

39.39

-52.72

130.26

-6.80

Adjustments to Reconcile Net Income

$293.61

398.53

271.49

364.88

336.32

289.74

742.76

511.29

987.14

1348.23

781.53

412.36

3.14%Net Cash (Operating)

$1223.98

1415.01

1341.23

1525.12

1577.33

1570.61

2080.29

2128.51

2720.11

3518.54

3211.14

2940.79

8.29%Capital Expenditure

$371.48

520.77

445.03

566.32

498.79

553.83

486.51

496.05

457.74

621.77

672.39

796.66

7.18%Net Cash (Investing)

$-374.76

-527.29

-447.97

-567.91

-505.83

-553.60

-521.86

-491.85

-497.88

-601.78

-648.10

-876.18

Increase/Decrease in Debt

$391.98

391.11

124.14

268.81

263.58

110.00

-128.80

151.39

267.84

-309.85

786.22

1475.14

12.80%Increase/Decrease in Equity

$-1287.53

-1290.16

-1057.18

-1204.70

-1372.17

-1016.96

-1502.30

-1816.08

-862.51

-3190.56

-4246.06

-3517.06

Interest Expenses

$161.80

174.04

166.48

137.63

136.73

135.33

163.97

153.37

161.86

187.95

178.56

260.87

4.44%Net Cash (Financing)

$-843.43

-847.02

-911.56

-896.70

-1052.80

-914.33

-1632.15

-1674.09

-643.64

-3500.42

-3470.50

-2060.08

Cash Taxes Paid

$443.67

498.59

556.97

539.15

582.38

579.92

427.16

383.87

339.49

574.85

461.23

570.25

2.31%Effect of Exchange Rate

$-0.30

-1.60

0.58

-9.69

-4.27

0.85

-1.72

-4.10

-4.08

4.17

0.51

8.15

Increase/Decrease in Cash

$5.49

39.10

-17.71

50.82

14.43

103.54

-75.45

-41.52

1574.52

-579.48

-906.96

12.67

7.91%Cash (Beginning)

$97.61

103.09

142.19

124.48

175.31

189.73

293.27

217.82

176.30

1750.82

1171.34

264.38

9.48%Cash (Ending)

$103.09

142.19

124.48

175.31

189.73

293.27

217.82

176.30

1750.82

1171.34

264.38

277.05

9.40%NOPAT

$1131.51

1216.28

1217.14

1368.90

1433.05

1453.59

1338.14

1797.34

2047.38

2328.83

2780.79

2848.58

528.28

597.53

8.76%13.11%Gross Margin %

51.51%

52.90%

53.02%

52.29%

52.74%

52.71%

53.24%

53.65%

53.60%

52.75%

52.13%

51.96%

52.29%

53.89%

Operating Margin %

18.93%

19.78%

19.66%

19.17%

19.37%

19.10%

16.14%

18.68%

19.14%

20.13%

20.12%

19.90%

18.15%

19.26%

NOPAT Margin %

13.15%

13.57%

13.08%

13.44%

13.47%

13.35%

11.93%

15.15%

16.21%

15.92%

17.11%

16.32%

14.31%

15.48%

Net Margin %

10.81%

11.34%

11.49%

11.39%

11.67%

11.76%

11.92%

13.63%

13.72%

14.84%

14.95%

14.48%

12.91%

13.35%

Tax Rate %

30.53%

31.40%

33.50%

29.91%

30.45%

30.12%

26.10%

18.90%

15.32%

20.91%

14.98%

18.00%

21.15%

19.60%

ROA

18.06%

17.65%

16.19%

16.90%

16.66%

15.70%

14.32%

18.16%

14.19%

16.04%

18.20%

17.82%

3.40%

3.57%

ROE

-73.09%

-72.08%

-75.05%

-80.46%

-80.17%

-101.76%

-88.01%

-104.87%

-233.19%

-129.56%

-78.58%

-65.49%

-12.63%

-12.35%

ROIC

44.60%

630.33%

537.95%

Asset Turnover

1.37

1.30

1.24

1.26

1.24

1.18

1.20

0.88

1.01

1.06

1.09

0.24

0.23

Inventory Turnover

1.59

Equity Multiplier

-4.05

-4.08

-4.64

-4.76

-4.81

-6.48

-6.15

-5.77

-16.43

-8.08

-4.32

-3.68

-3.72

-3.46

Current Ratio

0.81

0.79

0.84

0.90

0.97

0.92

0.91

1.08

0.87

0.77

0.80

0.79

0.82

Quick Ratio

0.07

0.08

0.07

0.09

0.10

0.12

0.09

0.34

0.21

0.09

Debt/Equity Ratio

-2.43

-2.48

-2.68

-2.72

-2.75

-3.56

-3.29

-3.04

-9.38

-2.93

-1.73

-1.76

-1.68

-1.78

Interest Coverage Ratio

10.07

10.19

10.99

14.19

15.07

15.37

11.04

14.45

14.94

15.67

18.32

13.32

Working Capital/Sales

-0.07

-0.40

-0.42

-0.41

-0.40

-0.39

-0.41

-0.42

-0.35

-0.39

-0.47

-0.43

-2.08

-2.03

Total Payout

$1057.34

1073.09

1099.51

1073.51

1245.32

1042.30

1795.07

1818.06

756.53

3688.36

3638.40

2302.78

7.33%Payout Ratio %

93.45%

88.23%

90.34%

78.42%

86.90%

71.71%

134.15%

101.15%

36.95%

158.38%

130.84%

80.84%