YouTube · Q2 2026 · 2026-08-04
AZO · NYSE
AutoZone, Inc.
Auto Parts · United States
USD 3.25K2.6% daily changeQuote 2026-11-02 · USD
- Market cap (USD)
- US$52.36B
- Trailing P/E
- 21.32x
- Forward P/E
- 16.93x
- Quarterly revenue growth
- 5.6%
- Trailing net margin
- 12.7%
- Indicated dividend yield
- —
Snapshot 2026-11-03 · Latest financial period 2026-08-29 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2026-12-08 (provider estimate; issuer confirmation unavailable here).
Company background
AutoZone, Inc. operates as a retailer and distributor of automotive replacement parts and accessories in the Americas. The company offers a 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. It also provides failure products, such as A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition, lighting, mufflers, radiators, starters and alternators, thermostats, tire repair, and water pumps. In addition, the company offers maintenance products, including antifreeze and windshield washer fluid; brake drums, rotors, shoes, and pads; chemicals, including brake and power steering fluid, and oil and fuel additives; oil and transmission fluid; oil, cabin, air, fuel, and transmission filters; oxygen sensors; paint and accessories; refrigerant and accessories; shock absorbers and struts; spark plugs and wires; and windshield wipers. Further, it provides air fresheners, cell phone accessories, drinks and snacks, floor mats and seat covers, interior and exterior accessories, mirrors, performance products protectants and cleaners, sealants and adhesives, steering wheel covers, tools, towing, vehicle entertainment systems, and wash and wax. It offers its products under the AutoZone, AutoZone Rewards, Get in the Zone, Zone, Duralast, Econocraft, ProElite, ProVantage, ShopPro, SureBilt, TotalPro, TruGrade, Valucraft, and ALLDATA names. The company sells its products through stores, www.autozone.com, www.autozonepro.com, www.alldata.com, and www.duralastparts.com, as well as commercial sales program that provides delivery of parts and other products and commercial credit to local, regional and national repair garages, dealers, service stations, fleet owners, and other accounts. AutoZone, Inc. was founded in 1979 and is headquartered in Memphis, Tennessee.
Company websiteQ4 FY2026
Go beyond the headline.
AZO Stock: The Margin Rebound Has a Refund Inside — Q4 FY2026
Published 2026-09-22
Q4 FY2026 REPORT HIGHLIGHTS
What’s changed for AZO
AutoZone earnings rose, but tariff refunds, LIFO, growing inventory and flat free cash flow complicate the recovery. Our HOLD model values the stock at $2,800.
The margin rebound has temporary contributors.
Tariff refunds and the comparative LIFO effect total 250 bp against a 182 bp gross-margin increase.
Commercial scale is outpacing productivity.
Sales grew 8.6%, but weekly sales per program rose 2.7% as the program count expanded.
Cash after investment barely grew.
FY2026 OCF less capital spending was $1.807B versus $1.790B, despite 7.4% sales growth.
Buyback discipline matters.
About $2.026B was repurchased at an average $3,496, above the pre-release reference.
The price already allows for some recovery.
Three valuation routes center near $2,800, with a $2,100–$3,900 scenario range.
Comparable businesses
AZO peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | AZOAutoZone, Inc.Snapshot 2026-11-03Financial period: 2026-08-29 | ORLYO'Reilly Automotive, Inc.Snapshot 2026-11-03Financial period: 2026-09-30 | GPCGenuine Parts CompanySnapshot 2026-11-03Financial period: 2026-09-30 |
|---|---|---|---|
| Market capMarket value, converted to USD | US$52.36B | US$72.98B | US$17.18B |
| Forward P/EProvider forward earnings estimate | 16.93x | 24.80x | 15.31x |
| EV / EBITDAEnterprise value / trailing EBITDA | 15.23x | 19.31x | 11.27x |
| Revenue growthLatest quarter vs prior-year quarter | 5.6% | 8.8% | 4.2% |
| Operating marginLatest reported quarter | 18.0% | 21.4% | 6.4% |
| Free cash flow yieldTrailing cash flow / market cap | 2.3% | 2.2% | 5.3% |
| Net debt / EBITDANet debt / trailing EBITDA | 3.00x | 2.35x | 2.94x |
| Debt / equityTotal debt / positive book equity | — | — | 1.46x |
| Trailing P/ETrailing twelve-month earnings | 21.32x | 26.99x | 461.52x |
| Price / bookPrice / positive book equity per share | — | — | 3.70x |
| EV / salesEnterprise value / trailing revenue | 3.21x | 4.38x | 0.92x |
| Earnings growthLatest quarter vs prior-year quarter | 15.0% | 13.4% | 0.0% |
| Gross marginTrailing twelve months | 51.7% | 51.8% | 37.7% |
| Net marginTrailing twelve months | 12.7% | 14.3% | 0.1% |
| Return on equityProvider trailing return; positive equity only | — | — | 0.7% |
| Free cash flow marginTrailing free cash flow / revenue | 5.9% | 8.5% | 3.6% |
| Dividend yieldIndicated annual dividend / price | — | — | 3.4% |
| Earnings payoutProvider trailing dividend payout | 0.0% | 0.0% | 1,622.1% |
| Current ratioCurrent assets / current liabilities | 0.90x | 0.77x | 1.22x |
| BetaProvider historical market sensitivity | 0.37 | 0.55 | 0.66 |
YouTube · Q2 2026 · 2026-08-04
YouTube · Q2 2026 · 2026-07-21
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-03. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for AZO
Q4 FY20262026-09-22
FREE RESEARCH PACKET · Q4 FY2026
AZO: The Margin Rebound Has a Refund Inside
AutoZone earnings rose, but tariff refunds, LIFO, growing inventory and flat free cash flow complicate the recovery. Our HOLD model values the stock at $2,800.
Research published September 22, 2026 · Download original report
Read Research PacketAZO Stock: The Margin Rebound Has a Refund Inside — Q4 FY2026
Presentation · 2026-09-22 · YouTube
Q3 FY20262026-05-26
AZO Stock: HOLD Call - Beat But Crashed 9% Q3 FY2026
Presentation · 2026-05-26 · YouTube